Garden County Nebraska

GardenCoNe.com

Oshkosh, Lewellen, Lisco

Business and Economic Development
Economic Development Advisory Committee

Oshkosh Economic Development Advisory Committee
Administrator of Economic Development: Bill Campbell

LB840

LB840 is an Act passed by the state legislature in 1991, Local Option Municipal Economic Development. This Act authorizes incorporated cities and villages to collect and appropriate local tax dollars (salesand/or property tax) if approved by the local voters for economic development purposes. The Act outlines the formulation of the local economic development program Plan. The Plan forms the foundation for the collection and expenditure of local tax revenues for economic development.

Activities eligible for local funds collected for the economic development program would include any project or program for the purpose of providing direct or indirect financial assistance to a qualifying business, or for the payment of related costs and expenses.

An economic development program may include, but is not limited to, the following activities:

• 1. direct loans or grants to qualifying businesses for fixed assets and/or working capital;
• 2. loan guarantees for qualifying businesses;
• 3. grants for public works improvements which are essential for the location or expansion of a qualifying business;
• 4. grants or loans for job training;
• 5. the purchase of real estate, options for such purchases, and the renewal or extension of such options;
• 6. payments for salaries and support of city staff or the contracting of an outside entity to implement the economic development program; and
• 7. bonding used to carry out program activities.

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