{"id":28383,"date":"2020-08-04T13:52:06","date_gmt":"2020-08-04T19:52:06","guid":{"rendered":"http:\/\/update.legislature.ne.gov\/?p=28383"},"modified":"2020-08-07T12:56:11","modified_gmt":"2020-08-07T18:56:11","slug":"tax-increment-finance-changes-amended-advanced","status":"publish","type":"post","link":"https:\/\/update.legislature.ne.gov\/?p=28383","title":{"rendered":"Tax-increment financing changes amended, advanced"},"content":{"rendered":"

A bill intended to make certain redevelopment projects easier advanced from general file Aug. 4.<\/p>\n

\"Sen.
Sen. Mike Groene<\/figcaption><\/figure>\n

LB1021, as introduced by North Platte Sen. Mike Groene, would create expedited review of tax-increment financing for redevelopment projects under the state\u2019s Community Development Law if the project:
\n\u2022 involves repair, rehabilitation or replacement of an existing structure in an existing substandard or blighted area;
\n\u2022 is in a county with a population of less than 150,000 or in an area that has been declared extremely blighted;
\n\u2022 involves a structure that is at least 50 years old; and
\n\u2022 does not exceed $250,000 for a single-family structure, $1 million for a multi-family or commercial structure or $10 million for a structure on the National Register of Historic Places.<\/p>\n

An Urban Affairs Committee amendment would increase the minimum age of a structure to 60 years and reduce eligibility to counties with a population of less than 100,000. The decision to allow expedited review would rest with the governing body of a municipality.<\/p>\n

Groene described the bill as a \u201cmicro-TIF\u201d measure and said it would reduce construction costs, make workforce housing more affordable and rejuvenate blighted areas.<\/p>\n

\u201c[LB1021] will remove statutory and financial barriers presently in the way of urban renewal in truly blighted and substandard areas,\u201d he said.<\/p>\n

Sen. Ben Hansen of Blair supported the bill, which he said would make it more difficult to abuse TIF.<\/p>\n

\u201cWe\u2019re putting the power back in the people\u2019s hands,\u201d he said.<\/p>\n

Following adoption of the committee amendment 40-0, lawmakers advanced LB1021 to select file on a 41-0 vote.<\/p>\n","protected":false},"excerpt":{"rendered":"

A bill intended to make certain redevelopment projects easier advanced from general file Aug. 4.<\/p>\n","protected":false},"author":1,"featured_media":28382,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[23],"tags":[142],"class_list":["post-28383","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-urban-affairs","tag-sen-mike-groene"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/update.legislature.ne.gov\/wp-content\/uploads\/2020\/08\/LB1021Groene8-4-20a.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/posts\/28383","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=28383"}],"version-history":[{"count":3,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/posts\/28383\/revisions"}],"predecessor-version":[{"id":28434,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/posts\/28383\/revisions\/28434"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/media\/28382"}],"wp:attachment":[{"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=28383"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=28383"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=28383"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}