Local Civic, Cultural, and Convention Center Financing Act.
~ Revised Statutes Cumulative
Supplement 2004
-------------------------------------------------------------------------------------------------------
13-2701
Act, how cited.
Sections 13-2701 to
13-2710 shall be known and may be cited as the Local Civic, Cultural, and
Convention Center Financing Act.
Source:
Laws 1999, LB 382, § 13
13-2702
Purpose of act.
The purpose of the Local
Civic, Cultural, and Convention Center Financing Act is to support the
development of civic, cultural, and convention centers throughout Nebraska.
Furthermore, the act is intended to support projects that attract new civic,
cultural, and convention activity to Nebraska from outside of Nebraska.
Source:
Laws 1999, LB 382, § 14
13-2703
Terms, defined.
For purposes of the Local
Civic, Cultural, and Convention Center Financing Act:
(1) Center means a civic,
cultural, or convention facility or area;
(2) Department means the
Department of Economic Development; and
(3) Fund means the Local
Civic, Cultural, and Convention Center Financing Fund.
Source:
Laws 1999, LB 382, § 15
13-2704
Local Civic, Cultural, and Convention Center Financing Fund; created;
use; investment.
The Local Civic, Cultural,
and Convention Center Financing Fund is created. The fund shall be administered
by the department. Any money in the fund available for investment shall be
invested by the state investment officer pursuant to the Nebraska Capital
Expansion Act and the Nebraska State Funds Investment Act. The fund may be used
for assistance for the construction of new centers or the renovation or
expansion of existing centers. The fund may not be used for planning,
programming, marketing, advertising, and related activities.
Source:
Laws 1999, LB 382, § 16
Cross References:
Nebraska Capital Expansion Act,see section
72-1269.
Nebraska State Funds Investment Act,see
section 72-1260.
13-2705
Conditional grant approval.
The department may
conditionally approve grants of assistance from the fund to eligible and
competitive applicants within the following limits:
(1) A grant request shall
be at least twenty thousand dollars but no more than:
(a) For a city of the
primary class, one million dollars;
(b) For a municipality
with a population of forty thousand but less than one hundred thousand, five
hundred thousand dollars;
(c) For a municipality
with a population of twenty thousand but less than forty thousand, four hundred
thousand dollars;
(d) For a municipality
with a population of ten thousand but less than twenty thousand, three hundred
thousand dollars;
(e) For a municipality
with a population of five thousand but less than ten thousand, two hundred
thousand dollars; and
(f) For a municipality
with a population of less than five thousand, one hundred thousand dollars;
(2) Assistance from the
fund shall not amount to more than fifty percent of the cost of construction,
renovation, or expansion; and
(3) A municipality shall
not be awarded more than one grant in any five-year period.
Source:
Laws 1999, LB 382, § 17
Laws 2003, LB 385, § 1
13-2706
Grant application.
Any municipality, except a
city of the metropolitan class, may apply for a grant of assistance from the
fund. Application shall be made on forms developed by the department.
Source:
Laws 1999, LB 382, § 18
Laws 2003, LB 385, § 2
13-2707
Department; evaluation criteria.
The department shall
evaluate all applications for grants of assistance based on the following
criteria:
(1) Attraction impact.
Funding decisions by the department shall be based in part on the likelihood of
the project attracting new cultural, civic, or convention activity to Nebraska
from outside of Nebraska. A project with greater out-of-state draw shall be
preferred over a project with less impact;
(2) Socioeconomic impact.
The project's potential for long-term positive impacts on the local and
regional economy and society;
(3) Financial support.
Assistance from the fund shall be matched at least equally from local sources.
At least eighty percent of the local match must be in cash. Projects with a
higher level of local matching funds shall be preferred as compared to those
with a lower level of matching funds;
(4) Readiness. The
applicant's fiscal and economic capacity to finance the local share and ability
to proceed and implement its plan and operate the convention center; and
(5) Project location. A
project shall be located in the municipality that applies for the grant.
Source:
Laws 1999, LB 382, § 19
Laws 2003, LB 385, § 3
13-2708
Grant; approval.
If a grant of assistance
is approved by the department, the applicant shall receive conditional approval
of the level of assistance. Projects shall receive funding from the fund in the
order conditional approval is received and whenever there is sufficient money
in the fund to provide the assistance. It is the intent of the Legislature to
appropriate funds to support projects which have received conditional approval
from the department. A grant of assistance shall be finally approved when funds
for the project are appropriated by the Legislature.
Source:
Laws 1999, LB 382, § 20
Laws 2003, LB 385, § 4
13-2709
Annual report.
The department shall
submit to the Governor, the Clerk of the Legislature, and the Legislative
Fiscal Analyst an annual report on or before December 1 each year documenting
the grants conditionally approved for funding by the Legislature in the
following fiscal year.
Source:
Laws 1999, LB 382, § 21
13-2710
Rules and regulations.
The department shall adopt
and promulgate rules and regulations to carry out the Local Civic, Cultural,
and Convention Center Financing Act.
Source:
Laws 1999, LB 382, § 22