Provide financing for start-up of new businesses, or expansion of existing businesses/industry;
Creation and retention of jobs mainly for low and moderate income persons;
Diversify the local economy by assisting new business and industry not already present;
Assist in the redevelopment of vacant and/or blighted buildings and land; and
Assist business and industry with job training costs.
ECONOMIC REVOLVING LOAN FUND GUIDELINES
ECONOMIC REVOLVING LOAN APPLICATION

Northeast Nebraska Economic Development District Reuse Funds – A fund created to provide economic development and job creation in Northeast area of Nebraska using the following objectives:

Provide financing for start-up of new businesses, or expansion of existing businesses/industry;
Creation and retention of jobs mainly for low and moderate income persons;
Diversify the local economy by assisting new business and industry not already present;
Assist in the redevelopment of vacant and/or blighted buildings and land; and
Assist business and industry with job training costs.
www.nenedd.org

Tax Increment Financing – A method of funding public improvements associated with private developments in designated “blight and substandard” areas of a community. This is achieved by capturing the projected increase in property tax revenue which will result from the private development.

The City of David City, Nebraska will proactively assist businesses to achieve Tax Increment Financing that meets the needs of their business.
Funding can be used for public infrastructure and land acquisition.

Industrial Revenue Bonds – Industrial revenue bonds are issued by the City of David City, Nebraska to finance land, buildings, and equipment for industrial projects. The rate of interest on the bonds is normally lower than on most loans. Industrial revenue bonds can provide assistance for manufacturing projects of up to $10 million.

The City of David City, Nebraska will proactively assist businesses to achieve Industrial Revenue Bond funding that meets the needs of the business.

Community Development Law LB-562

The City of David City, Nebraska will proactively assist businesses to achieve LB-562 funding that meets the needs of the business.
Designation of an “Enhanced Employment Area” which results in 2 new employees and new investment of $150,000.
The city may levy a general business occupation tax upon businesses within an “Enhanced Employment Area” and shall retire a Municipal Bond.
Funding can be used for public infrastructure and land acquisition.

Community Development Block Grants (CDBG) –

The City of David City, Nebraska will proactively assist businesses to achieve CDBG funding that meets the needs of the business.
Administered by the Nebraska Department of Economic Development.
Applies to all communities in the State of Nebraska.
Must support job-creation activities for low- and moderate-income residents.
Funds are awarded to local governments to finance programs that accomplish these goals.
Eligible businesses must be “for-profit” & engaged in one or more of the following activities:

Manufacturing, when the majority of the sales are derived from interstate commerce
Services, when the majority of the sales are derived from interstate commerce
Research & development, including conducting research, development of research, or scientific or industrial testing
Tourism attractions to annually draw 2,500 or more visitors form outside of a 100-mile radius. Does not include tourism support facilities such as motels, restaurants, gift shops, or service stations
Administrative management headquarters
Transportation when the majority of revenue is derived from interstate commerce
Dairy operations

The Nebraska Department of Economic Development - Community Development Homepage

The Nebraska Advantage Package – The Nebraska Advantage package was designed to create a business climate that makes Nebraska the preferred location for starting and growing your business. The Nebraska Advantage rewards businesses that invest in the state and hire Nebraskans. In this progressive, pro-business tax climate, corporate income and sales taxes are reduces or virtually eliminated.

For more information, visit the Nebraska Advantage website at http://www.nebraskaadvantage.biz
The City of David City, Nebraska will proactively assist businesses to achieve Nebraska Advantage funding that meets the needs of the business.

ECONOMIC DEMOGRAPHICS

Interested in learning more about David City, Butler County and the surrounding area? Visit these links:

BUTLER COUNTY AREA FOUNDATION

The Butler County Area Foundation, organized in 1982, provides a means by which those persons who wish to have an impact on the future of David City and Butler County may do so with tax deductible gifts of money, property, stocks, bonds, or insurance policies. Many gifts to the Foundation are memorials to friends and loved ones. The Foundation is structured to receive gifts of any size, and those gifts may be directed at specific uses by the donor.

The Foundation is a non-profit corporation organized under the laws of the State of Nebraska, with perpetual existence. It is affiliated with the Nebraska Community Foundation, which provides investment management services and counsel and advice to the local governing board and, if requested to, to prospective donors. The local Board of Directors is responsible for best use of the gifts, grants, and endowments provided by donors. Grants made locally can go only to qualified non-profit entities.

The Butler County Area Foundation currently manages eight scholarships set up by donors for the benefit of local high school graduates. It also has several other funds established for the benefit of certain local projects and activities. The largest single fund, however, is a general fund, comprised of undesignated contributions. It is with the income from this fund that the Board is able to assist in current local projects and needs according to its best judgment.

During its twenty plus years of existence the Butler County Area Foundation has made total grants of nearly $300,000 to local projects and activities and to scholarships for local students. This has obviously been a tremendous boost to the progress of our community. The Foundation’s assets now exceed $600,000. Clearly, the more those assets grow through gifts the more the Foundation can do for our community.

For more information or to make a donation, contact any director or write to us at PO Box 91, David City, NE 68632