Adopts the Urban Development Incentive Act to provide grants for real estate development in economically distressed areas.
The Urban Development Incentive Act aims to promote sustainable, equitable economic growth in Nebraska by providing grants to small and emerging developers for real estate projects in economically distressed areas. The act defines eligible developers and outlines various grant types, including funding for technical assistance, job creation, and sustainability features. The Department of Economic Development administers the grants, with an annual appropriation of $46.5 million from the General Fund. The act also mandates annual reporting on grant usage and outcomes.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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