Community Redevelopment Authority Encourages Strategic Investment in Falls City, Nebraska
The Community Redevelopment Authority (CRA) is a government arm of the city that manages Tax Increment Financing (TIF). “This is probably the best economic development tool at our disposal,” said Anthony Nussbaum, City Manager. “Tax Increment Financing is a very important mechanism that encourages investment in Falls City. Nebraska communities have used this program to successfully develop housing and commercial property for new businesses or the expansion of existing ones,” said Lucas Froeschl, Falls City EDGE Director. “Tax Increment Financing encourages investment and job creation in our community. Approximately 38% of Falls City’s land qualifies so there is a lot of opportunity to use TIF to help fund development and redevelopment projects.”
What is Tax Increment Financing?
Tax Increment Financing (TIF) is a method of financing public improvements associated with a private development project. For example, if a developer built retail space, a manufacturing facility or housing in a blighted or substandard area, a TIF could potentially be used to help fund the project. Read our FAQ for more information and answers to frequently asked questions about TIF.