Tax Increment Financing Information

The City of Hastings Development Services staff, in collaboration with the Community Redevelopment Authority (CRA), have developed this page to inform the public about Tax Increment Financing (TIF). This page addresses frequently asked questions such as what is tif, how is tif used, and do taxing entities still collect taxes on the property. TIF is regulated and defined by Nebraska State Statutes and allows the Community Redevelopment Authority to:

"encourage needed urban rehabilitation, to provide for the redevelopment of substandard and blighted areas, or to undertake any or all of such activities or other feasible activities as may be suitably employed to achieve the objectives of such workable program."

To date, the Hastings Community Redevelopment Authority has completed over 100 TIF projects. Some notable projects include the Kensington, the Rivoli Theater, and Walgreens.

Click the image below to visit a storymap about Tax Increment Financing.