Community Redevelopment Authority
When do they meet: As needed
Where do they meet: Grant City Hall
Consists of: Five (5) Members
Term: Five (5) Years
Compensation: None
Minimum for Quorum: Three (3) Members
POWERS AND DUTIES:
The Authority shall adopt rules for the transaction of its business and shall keep a record of its resolutions, transactions, findings and determinations, which records shall be made available for public inspection during regular business hours.
The Authority may appoint a Director, a Community Redevelopment Administrator or Coordinator and such other officers and employees as may be desired through contract with the Department of Economic Development upon terms which are mutually agreeable.
The Director, when appointed, shall serve as Ex-Officio Secretary of the Community Redevelopment Authority, and shall perform such duties as may be assigned by the Authority, including the necessary administrative functions described in the statutes under which the Authority has been created.
The Authority shall be vested with all the powers, duties and responsibilities set forth at Chapter 18, Article 21, the Community Development Law and Nebraska Revised Statute §§ 18-2101 to 18-2154.
The Authority shall organize by electing one of its members Chairperson of the Authority, and another of its members Vice Chairperson. The presence of three members shall constitute a quorum for the transaction of business.
The purpose of the CRA is to study and designate certain areas of the city in need of improvement and development. This body can determine the types of improvements or developments needed and recommend appropriate means for funding such improvements or developments for the maximum benefit to the city’s taxpayers. The CRA can borrow money, issue bonds, conduct public hearings, undertake investigations, surveys, appraisals, and ask for a levy of taxes.
The CRA promotes redevelopment in two ways, Tax Increment Financing (TIF) and grant funding. Public and private property owners may approach the CRA to request financing through either mechanism via formal letters to the Board and the TIF application. Eligible projects must be located in areas that have been declared “Blighted and Substandard” by the CRA in accordance with Nebraska’s Community Development Law.