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Local Economic Development Incentives 
Fairbury Downtown Design Challenge Grants
for Storefront and Facade Improvements in the Fairbury Downtown Historic
District
The City of Fairbury LB840 fund offers matching grants for
storefront and façade improvements in the downtown business
district up to a maximum amount of $3,000.00 per storefront. Design
challenge grants are intended to stimulate private investment in
the revitalization of downtown architecture and to foster image-making
improvements to downtown commercial properties.
Funding for the Fairbury Downtown Design Challenge Grant Program
is provided from the Local Option Sales Tax Program (LB840). Grants
are made in accordance with the Fairbury Downtown Design Challenge
Grant policies and are in conformance with all applicable state
and local requirements. The City of Fairbury administers the Program
under the contract.
Businesses, developers, and interested parties are strongly encouraged
to discuss the applicability of various projects with Joe Parker, Fairbury City Administrator @ (402) 729-2476, Dave
Taladay with SENDD at (402) 475-2520 or Julie Lambert, Main Street Consulting Group at (402) 613-2063.
LB840 Program
The State of Nebraska allows local communities flexibility in establishing
economic development at the local level through what is known as
the LB840 program. The
City of Fairbury has implemented an LB840 fund to use as an incentive for business
retention, expansion, moves to the community and startups. The program
is currently established as a grant program to enhance other funding avenues
used by a business in the project. The program is highly flexible, and
leaves the funding approval process up to the local level.
Past projects
have included the purchase of land for Industrial and Retail development, infrastructure
improvements, business acquisitions, industrial facility construction, seed capital
for expansion of product lines, and partnerships with local housing development. The
City of Fairbury has committed to working with SouthEast Nebraska Development
District (SENDD) for the management of the program's activities.
Businesses, developers, and interested parties are strongly encouraged
to discuss the applicability of various projects with Joe Parker, Fairbury City Administrator @ (402) 729-2476, Dave
Taladay with SENDD at (402) 475-2520 or Julie Lambert, Main Street Consulting Group at (402) 613-2063.
To Download the necessary documents, click on the appropriate
link below.
CDBG Reuse Fund
The City of Fairbury maintains a revolving
loan fund, entitled a Reuse Fund, to help support local economic
development activities. Eligible businesses include industrial,
manufacturing, food processing, agricultural processing, bagging
and cleaning facilities, commercial services, telecommunication,
transportation, retail and tourism. Eligible activities include
the acquisition of real estate, land, and buildings, fixed assets,
machinery and equipment, renovations, remodeling, site preparation,
storage and distribution systems, treatment systems, and job training
costs. Working capital may also be an eligible activity for
certain retail and tourism activities. There are specific
job creation/retention requirements associated with the provision
of funding through the Reuse Plan. The funds are available
on a low interest loan basis. Terms of the loan are subject
to the approval of a local Reuse fund committee.
Reuse funds are designated for use within the City limits of the
City of Fairbury. Jefferson County has a separate Reuse fund
for potential projects within the surrounding County. Rules
for use of the Jefferson County Reuse fund will be different, though
fairly comparable, with the rules of the City of Fairbury's Reuse
fund. Questions in regards to the County Reuse Fund may be
directed to the Jefferson County Commissioners at (402) 729-6818 or Julie Lambert, Main Street Consulting Group at (402) 613-2063.
Rural Enterprise Assistance Project
Small business owners must compete and succeed in a rapidly changing
environment.
The Rural Enterprise Assistance Project (REAP), a program of
the Center for Rural Affairs, is a small business development program
that can help! REAP consists of four elements including:
networking, business management training, credit (micro-loans)
and technical assistance.
For more information, please click here.
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Chamber
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