
ECONOMIC DEVELOPMENT LOCAL INCENTIVES
CDBG Funds
The City of
Current CDBG projects:
Rowse Hydraulic Rakes,Inc.
Economic Development Re-Use Funds
The City of
Re-Use Fund Objectives:
1. Provide financing for start-up and existing businesses that cannot obtain sufficient conventional financing or to attract new businesses to the community.
2. To create and retain jobs principally for low-moderate income persons.
3. To diversify the local economy by assisting businesses which are not presently in the community.
4. To encourage the redevelopment and rehabilitation of buildings and land, to include vacant, blighted and substandard areas.
5. To promote entrepreneurship and new business development.
6. To provide necessary public infrastructure to businesses.
Current Re-Use Loans:
08-ED-01 – This project consists of
rehabilitation of a commercial building to accommodate commercial business
activity. Loan amount - $40,000.00
08-ED-02 – This project consists of the
purchase of equipment and inventory for a new commercial business. Loan amount - $22,000.00
08-ED-03 – This project consists of the
purchase of equipment for an existing commercial business. This existing business will create an
additional full time job. Loan
amount - $40,000.00
08-ED-05 – This project consists of a new
business to be located in an existing commercial building. The building will be used for a tire
store, vehicle servicing, auto repair and small engine repair. The new business will create two full
time jobs. Loan amount - $20,000.00
08-ED-06 – This project consists of a new
business to be located in an existing commercial building. The building will be renovated to
accommodate a full service menu of barbeque food items. The new business will create four full
time jobs. Loan amount - $10,000.00
09-ED-01 – This project consists of the
purchase of equipment and inventory for a new commercial business. Loan amount - $10,000.00
09-ED-02 – This project consists of the purchase
of equipment for a new commercial business. Loan amount - $3,500.00
Tax Increment Financing (TIF)
The City of O'Neill has the
ability to use TIF to assist new or expanding businesses. TIF is the use of newly
created property tax dollars on improvements. It is the use of new tax dollars
that would not exist without the project. TIF can only be used in areas that
have been designated as blighted and substandard.
Current TIF projects:
Adamson
Distributing -
Rehabilitation to the real estate by adding a 7,200 square foot addition to the
existing distribution/warehouse facility on the real estate.
Evergreen Assisted Living
Facility - Rehabilitation of real estate for use as an assisted living
facility for the elderly.
Holiday Inn Express - Change in current land use by
acquisition and demolition of existing motel due to obsolescence and condition
of the premises. New structure will include meeting rooms and an indoor pool.
21st
Century Growers Hydroponics - Facility -
Rehabilitation of real estate for constructing a ten acre hydroponic
green house.
Bank First –
Facility – Rehabilitation of real estate for constructing a full service
banking facility.
MJ Kersenbrock
DDS –
Demolition and removal of existing building, demolition of concrete structures
and site preparation, site acquisition, installation of utilities and new
construction of a dental facility.
For available development sites
see following real estate links:
Earley Real Estate
Farmer's National
Waldo
Realty
The City of
Economic Development Corporation
The O'Neill
Economic Development Corporation works with the City of
CITY OF
Economic Development
Accomplishments 2000-2009
Business Recruitment and Development
2000 – R&D Manufacturing
2000 - The Evergreen Assisted Living
2000 – Holiday Inn Express
2004 –
2005 - Bank First
Business Expansion
2000 - Adamson Distributing
2009 – MJ Kersenbrock
DDS
<>CDBG or Re-Use
Loans
2 Loans totaling
$431,900
CDBG Loans
Loan Amount
2000 Nebraska Rubber Innovations,
Inc.
$241,900
2000 R&D
Manufacturing
$190,000
Re-Use Loans
<>
See loans listed above.
Rural
2002-2009 - REAP loans in O'Neill totaling $606,500
<>2001-2005 - Retail sales
increased in O’Neill by 7.5%.
Grants Received
2000 – Finalization of down payment assistance CDBG
in the amount of $175,000 for first time homebuyers; 12 individuals and
families served.
2001 – Planning CDBG in the amount of $24,600 to
complete a comprehensive plan, economic development strategic plan as well as a
city-wide blight study.
2003 – Down payment assistance CDBG in the amount of
$200,000 for first time homebuyers; 16 individuals and families served.
2004 – Pinnacle Bank challenge grant to the
O’Neill Community Foundation in the amount of $25,000 to grow an
endowment fund. The Foundation will
receive an additional $25,000 if endowment reaches
$500,000.
2005 – O’Neill Home Town Competitiveness
awarded $75,000 Kellogg Grant.
2005 – Economic Development
CDBG in the amount of $130,000 for Rural Enterprise Assistance Project
(REAP). The City of
2007 – Safe Routes to School
Grant in the amount of $93,538 for installation of approximately 3,000 feet of
sidewalk on the north side of
2007 – Peter Kiewitt Foundation Grant in the amount of $24,000 to help
offset the cost of purchasing the historic lights for downtown O’Neill.
2007 - Economic Development CDBG
in the amount of $105,000 for Rural Enterprise Assistance Project (REAP).
The City of
2009 - Economic Development CDBG
in the amount of $52,500 for Rural Enterprise Assistance Project (REAP).
The City of
2009 – Peter Kiewitt Foundation Grant to the O’Neill Community
Foundation in the amount of $20,000 for emergency relief grant fund to help
meet essential human needs, especially during these harsh winter months.
2010 - Peter Kiewitt
Foundation Grant to the O’Neill Community Foundation in the amount of
$20,000 for emergency relief grant fund to help meet essential human needs,
especially during these harsh winter months.
Hometown Competitiveness Program
>
Entrepreneurship
Youth
Leadership
Charitable Assets
<>Awards
2005 – NCIP Award for Volunteer & Leadership
Development
2005 –
2007 – NCIP Award for Orthopedic
Physician/Recruitment for