NGage - Members of the Beatrice City Council and Gage County Board of Supervisors have been working together towards the formation of a new economic development group, Gage Area Growth Enterprise (NGage). Some of NGage's goals will include working with all communities in Gage County to increase employment opportunities and the tax base while recruiting new businesses and assisting existing businesses.
Economic Development Program (LB840) - The citizens of Beatrice renewed the City's economic development program in May of 2012. The economic development program is a tool that encourages and stimulates the growth of quality jobs, attracts permanent investment, broadens the tax bases, and diversifies the economic base. The overall goal of the economic development program is to decrease the unemployment rate and increase the per capita and median household incomes throughout Beatrice and Gage County. To review Beatrice's Economic Development Program click here.
Community Development Block Grant (CDBG) Reuse Loan Fund - The City of Beatrice has a CDBG Reuse Loan Fund available to local businesses. The terms of the loan are negotiated on an individual basis. The amount of loans varies depending on the amount of funds requested and available. CDBG Reuse Loans must be tied to either job-creation or job-retention for low-to-moderate income (LMI) individuals. Interested parties must complete an application. Applications are reviewed by the Citizens' Advisory Review Committee and approved by the Beatrice City Council. All information is kept confidential.
Tax Increment Financing (TIF)
Tax Increment Financing (TIF) - The Community Redevelopment Laws allow for the increaded property taxes generated by the improvement of blighted property to be used to pay for the financing of the redevelopment, known as tax increment financing or TIF. TIF provides a means of encouraging private investment in blighted and substandard areas by allowing city governments to devot all property tax revenue increases to repay the public investment needed to attract development. The City of Beatrice has established four redevelopment areas where projects are available for TIF. Click here for examples of expenses eligible for TIF.
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