Legislative Bill 840, the Local Option Municipal Economic Development Act is based on the premise that communities should use their own tax dollars in ways that best meet their local needs.
In November 1990, the state granted towns the ability to keep a percentage of their sales tax (upon voter approval) to be spent in their community toward economic growth.
In November 2009, Scribner voters approved to keep the 1.5% of 7% sales tax in a fund to be used for economic growth only.
The account is governed by Scribner’s LB840 Citizen’s Advisory Committee and LB840 Loan Committee, which both answer to the Scribner City Council.
WHAT IS IT USED FOR?
35% of the funds go toward the hiring of Scribner’s Economic Development Director. The Director is in charge of:
- Grant writing
- Committee organizations such as the Beautification Committee
- Attracting new businesses and helping them get established
- Running the city’s website and Facebook page, along with various local business Facebook pages
- Graphically designing local event flyers
- Project management such as the Mohr Auditorium renovation, downtown beautification, etc.
- Updating the message center sign on Highway 275
- Event organizing
- Annual Big Give event
- Public outreach
- Public relations
- Marketing for the town of Scribner.
The rest of the 65% goes into an account to be used for various projects throughout the city that support the mission of economic growth within Scribner. The funds also help out new businesses that need a low-interest loan (3.5%) over a 10-year period.
LB840 HAS HELPED FUND
- Various local businesses utilized the low-interest loan
- Saving the old city hall bell tower with renovations
- Spear Field bleacher repairs and paint
- Tearing down rundown homes to make room for new
- New playground in city park
- Infrastructure in the industrial park
- Infrastructure in a field, in order to set up for housing
- Fairground RV park
- Workforce Housing Fund investment which is being utilized by Hoppe Development on Main & Bridge Streets
- Highway 275 Message Center Sign
- Economic Specialist for various feasibility studies