Section 19-5704 - Grant; application; contents; eligibility; limitations(1) Beginning July 1, 2024, an eligible grantee may apply to the Department of Economic Development for a grant under the Municipality Infrastructure Aid Act on forms created by the department.(2) To be eligible for a grant under the Municipality Infrastructure Aid Act, an eligible grantee shall include the following in its application: (a) The infrastructure improvements that are a part of a redevelopment plan approved under the Community Development Law;(b) How the infrastructure improvements would attract and support any new business or business expansion;(c) How the infrastructure improvements would provide infrastructure that is sufficient for the new business or business expansion;(d) The cost-benefit analysis of the redevelopment plan approved under the Community Development Law; and(e) How the new business or business expansion would provide the following:(i) The creation of additional jobs in or near the eligible grantee;(ii) The creation of high-quality jobs in or near the eligible grantee;(iii) Increased business investment in or near the eligible grantee; and(iv) Revitalization of rural and other distressed areas of the state.(3) A grant shall not be awarded to an eligible grantee if:(a) The eligible grantee does not provide a positive cost-benefit analysis of the redevelopment plan approved under the Community Development Law; or(b) The eligible grantee does not provide matching funds in the amount of at least twenty-five percent of the amount of the grant.(4) An eligible grantee shall not be awarded a grant of more than five million dollars for any single application.Neb. Rev. Stat. §§ 19-5704
Added by Laws 2024, LB 600,§ 4, eff. 4/17/2024.