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City of Crete Nebraska




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Tax Increment Finance (TIF) Program

Tax Increment Financing, or TIF is a tool to assist in financing redevelopment projects in designated blighted and substandard areas of the city.  The City of Crete issues bonds or a promissory note to finance any approved project.  The property taxes generated from the increased valuation of the development are captured for a period of up to 15 years to repay the public investment.

Visit the Community and Economic Development Office main page

The purpose of TIF is to help communities undertake redevelopment activities for urban renewal and municipal growth.  TIF allows a city to pay for the public improvements that are part of a private redevelopment project.  TIF is not a grant and it is not a primary funding source for a redevelopment project, but does provide an incentive for private development that will increase the tax base of the Crete community and create additional jobs.  

TIF Program Documents