THE ORD NEBRASKA

Blog

Economic Development Fund Update

The month of September receipts for the Ord city sales tax program for economic development are reported below. Sales tax receipts for the economic development fund are available for a variety of uses including low interest loans for business development, site and property improvement, community development and community promotion.

Of the annual receipts for the 1% sales tax, only 4/10 of 1% of the City’s annual valuation can be used for economic development purposes, according to NE  Statute. Any excess funds above the amount at the end of the 12-13 fiscal year will be transferred to the general fund of the City for expenditure on infrastructure, parks, community promotion and public safety purposes.

 

Leave a Reply