VOTE YES

For PROPOSITION 1

VOTE YES TO: • Create new jobs• Attract new businesses• Grow Bellevue!

Visit www.BellevueNebraska.com for more information

ENGAGE & PARTICIPATE

Cities compete every day to get businesses to locate or expand in their jurisdiction.Some cities win the competition, some cities lose….. and many cities never know they were in the battle!

WHY WOULD BUSINESSES LOCATE IN BELLEVUE?

• Low Utility Costs• Strong Work Ethics• Low Cost of Living• Educated Workers• Quality of Life

WHY NOT BELLEVUE?

• Lack of large “pad site ready” parcels

• Lack of Business Incentives• Lack of Industry

Diversification

LOCAL OPTION MUNICIPAL ECONOMIC DEVELOPMENT ACT – LB 840

• Constitutional and legislative prohibitions prevent cities from investing local public funds in development programs.

• LB 840 removed these limitations and provided municipalities greater latitude in determining and acting upon local needs.

• Economic diversification is a critical priority for the City of Bellevue through recruitment of new business in the Highway 34 Corridor.

HIGHWAY 34 CORRIDOR

• The core of the LB 840 process involves formulation of a local economic development program.

• Bellevue City Council approved program August 25, 2014.

• Voters determine approval of plan November 4, 2014.

LOCAL OPTION MUNICIPAL ECONOMIC DEVELOPMENT ACT – LB 840

ELIGIBLE ACTIVITIES

Any project or program for the purpose of providing direct or indirect financial assistance to a qualifying business, or for related costs and expenses

EXAMPLES OF ELIGIBLE ACTIVITIES

• Construction of Infrastructure Improvements• Purchase Real Estate for Development• Loans, Grants, and Loan Guarantees for

Qualifying Businesses• Job Training Grants and Loans• Recruit New Businesses, Promote Expansion

of Current Businesses

QUALIFYING BUSINESSES

• Manufacturing• Research and Development• Processing, Storage, Transport, Sales of

Goods or Commodities• Headquarter Facilities• Telecommunication Facilities• Tourism-related activities• Retail

SOURCE OF FUNDS

• Existing City Sales Tax, Lodging Tax, Occupancy Tax, and Real Estate Tax

• Additional Funds from Non-City Sources (i.e., grants)

• No New Taxes unless Approved by Voters

COMMUNITIES USING LB 840

• Ainsworth• Albion• Alliance• Arapahoe• Arnold• Atkinson• Bayard• Beatrice• Beaver City• Beemer• Blair• Burwell• Cambridge• Central City• Chadron• Clearwater• Columbus• Cozad• Crete• Crofton• Curtis• Doniphan

• Fairbury• Falls City• Fremont• Geneva• Gering• Gothenburg• Grand Island• Hartington• Holdrege• Imperial• Kimball• LaVista• Lexington• Louisville• Loup City• McCook• Milford• Mitchell• Nebraska City• Neligh• Norfolk

• North Platte• O’Neill• Ord• Oshkosh• Plattsmouth• Ravenna• Sargent• Schuyler• Scottsbluff• Seward• Sidney• South Sioux City• St. Paul• Stromsburg• Superior• Sutton• Tecumseh• Valentine• Wakefield• Wayne• West Point

LB 840 SUCCESS STORIES

Local Total JobsCity Incentive Investment Created

Beatrice $610,000 $28,000,000 100 new(ACCUMA) Rail Spur 56,000 sq. ft. bldg. $10-$15/hour

Blair $1,000,000 $400,000,000 100 new(Cargill) Land & Utilities $30,000 avg.

Salaries

Scottsbluff $500,000 $1,000,000 100 new(OROCOM) $9 -$16/ hour

Sidney $500,000 $10,000,000 1,200 jobs(Cabela’s) retained

BELLEVUE’S ECONOMIC DEVELOPMENT PROGRAM

Targets the Highway 34 Corridor District with the following purpose & goals:

• Create new jobs• Generate employment opportunities• Attract a variety of new businesses• Attract new capital investment• Broaden the tax base• Expand the labor market

HIGHWAY 34 CORRIDOR

BELLEVUE’S ECONOMIC DEVELOPMENT PROGRAM

Goals to be achieved in Highway 34 Corridor:

• Construct infrastructure improvements in Hwy 34 Corridor• Provide grants to qualifying businesses• Establish loan fund for use by qualified businesses• Purchase real estate for development• Promote development of the new Hwy 34 corridor as an

industrial area

SOURCE OF FUNDS FOR BELLEVUE PROGRAM

• Existing City Sales Tax, Lodging Tax, Occupancy Tax, and Real Estate tax

• No new taxes• City may contribute an amount not to exceed

$375,000 for any on-half year and $750,000 per year if budgeted

DOES BELLEVUE HAVE POTENTIAL FUNDS?

WHEN APPROVED AT ELECTION

• The Economic Development Program is established by ordinance

• Appointment of Citizen’s Advisory Review Committee

• Establish an Economic Development Fund

• City Council determines whether to provide funds in the annual budget

WHAT IF WE DON’T APPROVE PROPOSITION 1?

• Bellevue remains limited on economic development tools- Other Communities with LB 840 possess a valuable advantage in business retention and recruitment

• No new industrial growth likely, and continued loss of business development which could result in:

- Increased property taxes- Loss of services- Limited employment opportunities- Deterioration of educational opportunities

• Highway 34 infrastructure improvements remain unfunded

VOTE YES

For PROPOSITION 1

VOTE YES TO: • Create new jobs• Attract new businesses• Grow Bellevue!

Visit www.BellevueNebraska.com for more information