Bill on changing 'blighted' tag for TIF projects passes 1st round in Nebraska Legislature
TD Ameritrade used tax-increment financing to build in an office park area in Omaha’s Old Mill neighborhood. Property owners in the Old Mill area complained about attaching the blighted label to land around the new headquarters.
Posted: Tuesday, January 14, 2014 12:00 am
Updated: 11:08 am, Tue Mar 25, 2014.
LINCOLN — Cities would no longer have to declare properties “blighted and substandard” to provide tax-increment financing for redevelopment projects under a proposal given first-round approval by the Nebraska Legislature on Tuesday.
The “blighted” tag causes consternation for property owners due to the stigma it attaches to a plot of land and worries that it will lower property values.
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Tuesday, January 14, 2014 12:00 am.
Updated: 11:08 am.