Tax Increment Financing (TIF)
Tax Increment Financing, or TIF, is a tool to assist in financing redevelopment projects in designated blighted and substandard areas of the City. The property taxes generated from the increased valuation of the development are then captured for a period of up to 15 years to finance the eligible public improvements.
TIF is not a grant and it is not a primary funding source for a redevelopment project, but does provide an incentive for private development that will increase the tax base. Any expenses incurred before the TIF application has been approved are not eligible.
Project Eligibility
To be eligible for TIF, a proposed redevelopment project must be located in a designated redevelopment area and within the City limits. TIF can be used to pay for eligible public improvements, which may include:
- Land Acquisition
- Site Development – Demolition, Grading, Site…
Redevelopment Areas
All TIF projects must occur within a redevelopment area that has been declared blighted and substandard by the City. The City of Beatrice has established 13 redevelopment areas. A copy of the redevelopment plan for the various redevelopment areas is available below. A map of the…
TIF Process Checklist
What are all the steps of the TIF process? A checklist has been created laying out all the steps you can expect when applying for these funds.
TIF Financing Project Example
How does TIF financing work? An example can be found here for a hypothetical project.
Tax Increment Financing FAQs
Read MoreMicro TIF Projects
The Nebraska Legislature has adopted LB 1021. Under this law, City Councils may pass a resolution allowing for expedited reviews of redevelopment plans for certain qualifying TIF Projects (“Micro TIF” projects). For those projects that qualify as a Micro TIF …
Annual Tax Increment Financing (TIF) Report
In accordance with Neb. Rev. Stat. §18-2117.01, the Community Redevelopment Authority of the City of Beatrice provides an annual report regarding the approval and progress of redevelopment projects that are financed in whole or in part through the division of taxes as provided in §18-2147.
Supporting Documents
Contact Us
City of Beatrice
400 Ella Street
Beatrice, NE 68310
(402) 228-5200
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