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{ Utility News }   { Looking Ahead in Wayne }   

Looking Ahead in Wayne

 

Next Regular City Council Meeting

May 20th at 5:30 p.m. in the council chambers at 306 Pearl Street.

 

What does "blight and substandard determination" mean?

  • Our house on Oak Drive is over 40 years old.  It doesn't meet current insulation and ventilation building code standards, the driveway is cracking and it needs new shingles and would likely be determined to be blighted and substandard in a "blight and substandard study" of the area.

 

  • Almost every home in Nebraska over 40 years old would likely qualify.

 

  • Land in the city limits that is poorly drained or has problems with storm water run-off, is underdeveloped or has unsightly stuff on it would likely qualify as "blighted and substandard".

 

  • Most commercial properties downtown would likely qualify because they are over 40 years old unless they have been totally renovated.

 

Why do we care about this?

  • No building lasts forever.

 

  • Where do we get the money to fix up or tear down old buildings and replace them?

 

  • If a building isn't maintained what will it look like in another 20 years?

 

  • Should a community care if buildings aren't maintained?

 

What about downtown?

  • Most Nebraska towns were railroad towns and were built about the same time.

 

  • New state grant assistance and tax credit programs are being made available to property owners to help pay the costs to repair and extend the life of older buildings, fix sidewalks and streets.

 

  • To qualify for some of these programs a "blight determination study" (Congress gave it this name) has to be done for the area..

 

  • Some communities will take advantage of these new programs and some won't.

 

  • Wayne is seeking grant funds to assist building owners downtown and is doing the required "blight and substandard determination" study of the downtown area.

 

What is Tax Increment Financing (TIF)?

  • TIF is a financial incentive to build and renovate property in areas determined to be "blighted and substandard".

 

  • State law allows cities to approve a private TIF loan to a builder to help pay for removal of old buildings and new construction and renovation projects that create "new" real estate property valuation in an area that is "blighted and substandard".

 

  • The city can authorize the "new" incremental property tax that is generated by the new building to be used for the next 14 years to pay off the TIF loan that helped build it.

 

  • The community gets new and renovated buildings that would otherwise not have happened with TIF help in areas that need it.

 

  • Some communities use tax increment financing to help growth and some don't.

 

What is an example of TIF in Wayne?

  • The Oaks Retirement Center was built in 1998 with assistance from a TIF loan.

 

  • The community has enjoyed the benefit of this facility for nine years.

 

  • The $67,000 "new" property taxes per year that were dedicated to pay off the Oaks TIF loan have paid it off 6 years ahead of schedule and now will go to the school, city and county for future years.

 

  • The community now has both the benefit of $67,000 in new tax revenues and the addition of the Oaks.

 

Why do these things?

  • Communities grow and prosper by one project at a time.

 

  • Some communities use all the incentives they can find and some choose not to.

 

  • Someone has to step up and take the risk.

 

  • Wayne has a history of being pretty active.

 

 

City Budget Sessions

The mayor and city council are meeting in informal open budget discussions after council meetings planning next year's budget.  Your comments and presence are encouraged.

 

Questions or comments?  Call Lowell Johnson, City Administrator at 375-1733 or email me at cityadmin@cityofwayne.org.

 

 

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