The Nebraska Legislature Considers Riverfront Development Legislation
LB 806 (Mello) adopts the Riverfront Development District Act (the “Act”). The Act would enable cities to create one or more riverfront districts to improve or develop riverfront areas and to assess an occupation tax based on a business owner’s square footage to fund the development. A quasi-municipal body, a Riverfront Development Authority, would oversee development, take actions related to development including entering into contracts and creating and implementing plans for improvements and redevelopment, and fund infrastructure and public improvements within the district by fixing and charging rents for use of the Authority’s real property, receiving and investing grants and loans, and issuing bonds. The bill is on General File, and the Urban Affairs Committee proposed an amendment to address overlap with a business improvement district. The bill does not currently have a priority designation.
