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 Preparation
• Professional Fees – Architect, Engineering, Legal
• Installation or Construction of Public Infrastructure – Water, Sanitary Sewer, Street, Electrical, Storm Water, Lighting, Public Spaces, Public Parking, Natural Gas, City Engineering
• Other Expenses Allowed by State Statute.

Additionally, in order to use TIF, the City must perform a cost-benefit analysis of the project and determine that the costs and benefits of the project are in the long-term best interest of the City and the project would not be economically feasible without the use of TIF.

Projects must include funding for any required public improvements.

For TIF, the Project owner/developer must secure funds for the project, including any public improvements, as required. The incremental tax allocations paid into Gage County are forwarded to the owner/developer, or their assignees as received, to service the TIF loan. Except for the tax allocations for the permitted term, the City assumes no responsibility for the repayment of any TIF loan.

The City assumes no responsibility for the financing of any TIF loan or bond.