Walker outlines growth fund ahead of November election

Nebraska City Area EDC

NEBRASKA CITY -  Economic Developer Lisa Walker updated city commissioners Monday regarding  Nebraska City Growth Fund successes over the past 19 years including community impact and oversight.

Walker: “It supports business expansion, new business recruitment, workforce development, housing development, small business assistance, community development projects and some site development, as well.”

The fund was first approved with sales tax support in 2007. Voters renewed the program 10 years ago and are being asked in November to approve another 10 years.

Walker said of the $5.7 million invested through the LB840 program, only $3.8 million came directly from sales tax. The remaining $1.9 million was earned on interest.

Walker: “The funding has helped launch, expand or improve 100 businesses or community projects across Nebraska City.”

Community projects include grants for hanging flower baskets and the community pass program for the Nebraska City Museum Association.

She said application forms are picked up and returned to city hall before going to the Nebraska City Area EDC office and a citizens advisory review committee that is appointed by the mayor.

Walker said applicants give a presentation before the review committee.

Walker: “Who ask lots of questions. They understand the importance of these funds. These are public dollars. They want to make sure they are invested wisely, whether they are through a grant or a loan.”

The review committee decides if a project should move forward and the city council makes the final decision.

Under the proposed renewal, the Growth Fund will not receive sales taxes unless the city collects more than $2.2 million in sales tax. Up to 12 percent of sales tax could go to the growth fund.