it HERE

Report
ENGAGE & PARTICIPATE
Cities compete every day to get
businesses to locate or expand in their
jurisdiction.
Some cities win the competition, some
cities lose….. and many cities never
know they were in the battle!
WHY WOULD BUSINESSES LOCATE
IN BELLEVUE?
• Low Utility Costs
• Strong Work Ethics
• Low Cost of Living
• Educated Workers
• Quality of Life
WHY NOT BELLEVUE?
• Lack of large “pad site ready”
parcels
• Lack of Business Incentives
• Lack of Industry
Diversification
LOCAL OPTION MUNICIPAL
ECONOMIC DEVELOPMENT ACT –
LB 840
• Constitutional and legislative prohibitions prevent cities from
investing local public funds in development programs.
• LB 840 removed these limitations and provided municipalities
greater latitude in determining and acting upon local needs.
• Economic diversification is a critical priority for the City of
Bellevue through recruitment of new business in the Highway 34
Corridor.
HIGHWAY 34 CORRIDOR
LOCAL OPTION MUNICIPAL ECONOMIC
DEVELOPMENT ACT – LB 840
• The core of the LB 840 process involves formulation of a
local economic development program.
• Bellevue City Council approved program August 25, 2014.
• Voters determine approval of plan November 4, 2014.
ELIGIBLE ACTIVITIES
Any project or program for the purpose
of providing direct or indirect financial
assistance to a qualifying business, or for
related costs and expenses
EXAMPLES OF ELIGIBLE ACTIVITIES
• Construction of Infrastructure Improvements
• Purchase Real Estate for Development
• Loans, Grants, and Loan Guarantees for
Qualifying Businesses
• Job Training Grants and Loans
• Recruit New Businesses, Promote Expansion
of Current Businesses
QUALIFYING BUSINESSES
• Manufacturing
• Research and Development
• Processing, Storage, Transport, Sales of
Goods or Commodities
• Headquarter Facilities
• Telecommunication Facilities
• Tourism-related activities
• Retail
SOURCE OF FUNDS
• Existing City Sales Tax, Lodging
Tax, Occupancy Tax, and Real
Estate Tax
• Additional Funds from Non-City
Sources (i.e., grants)
• No New Taxes unless Approved
by Voters
COMMUNITIES USING LB 840
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Ainsworth
Albion
Alliance
Arapahoe
Arnold
Atkinson
Bayard
Beatrice
Beaver City
Beemer
Blair
Burwell
Cambridge
Central City
Chadron
Clearwater
Columbus
Cozad
Crete
Crofton
Curtis
Doniphan
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Fairbury
Falls City
Fremont
Geneva
Gering
Gothenburg
Grand Island
Hartington
Holdrege
Imperial
Kimball
LaVista
Lexington
Louisville
Loup City
McCook
Milford
Mitchell
Nebraska City
Neligh
Norfolk
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North Platte
O’Neill
Ord
Oshkosh
Plattsmouth
Ravenna
Sargent
Schuyler
Scottsbluff
Seward
Sidney
South Sioux City
St. Paul
Stromsburg
Superior
Sutton
Tecumseh
Valentine
Wakefield
Wayne
West Point
LB 840 SUCCESS STORIES
Local
Incentive
Total
Investment
Jobs
Created
$610,000
Rail Spur
$28,000,000
56,000 sq. ft. bldg.
100 new
$10-$15/hour
$400,000,000
(Cargill)
$1,000,000
Land & Utilities
100 new
$30,000 avg.
Salaries
Scottsbluff
$500,000
$1,000,000
100 new
$9 -$16/ hour
$500,000
$10,000,000
1,200 jobs
retained
City
Beatrice
(ACCUMA)
Blair
(OROCOM)
Sidney
(Cabela’s)
BELLEVUE’S ECONOMIC
DEVELOPMENT PROGRAM
Targets the Highway 34 Corridor District with the
following purpose & goals:
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Create new jobs
Generate employment opportunities
Attract a variety of new businesses
Attract new capital investment
Broaden the tax base
Expand the labor market
HIGHWAY 34 CORRIDOR
BELLEVUE’S ECONOMIC
DEVELOPMENT PROGRAM
Goals to be achieved in Highway 34 Corridor:
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Construct infrastructure improvements in Hwy 34 Corridor
Provide grants to qualifying businesses
Establish loan fund for use by qualified businesses
Purchase real estate for development
Promote development of the new Hwy 34 corridor as an
industrial area
SOURCE OF FUNDS FOR
BELLEVUE PROGRAM
• Existing City Sales Tax, Lodging Tax, Occupancy
Tax, and Real Estate tax
• No new taxes
• City may contribute an amount not to exceed
$375,000 for any on-half year and $750,000
per year if budgeted
DOES BELLEVUE HAVE
POTENTIAL FUNDS?
WHEN APPROVED AT ELECTION
• The Economic Development Program is
established by ordinance
• Appointment of Citizen’s Advisory Review
Committee
• Establish an Economic Development Fund
• City Council determines whether to provide funds
in the annual budget
WHAT IF WE DON’T APPROVE
PROPOSITION 1?
• Bellevue remains limited on economic development tools
- Other Communities with LB 840 possess a valuable
advantage in business retention and recruitment
• No new industrial growth likely, and continued loss of
business development which could result in:
- Increased property taxes
- Loss of services
- Limited employment opportunities
- Deterioration of educational opportunities
• Highway 34 infrastructure improvements remain unfunded

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