Nelscott Urban Renewal (Tax Increment Finance) Plan (2023)

Print
Share & Bookmark, Press Enter to show all options, press Tab go to next option

Background

Per City Council direction, an Urban Renewal Feasibility Study was completed for the Nelscott Urban Renewal Area in 2019. The feasibility study indicated that urban renewal would help provide funding to assist in improving infrastructure, parks, creek restoration, and assistance with development including light industrial, commercial and residential development. 

A City Advisory Committee was formed to help guide the preparation of an urban renewal plan. They began meeting in February and completed their fifth and final meeting on April 26th. At that meeting the Advisory Committee voted to move the Plan forward in the adoption process.  

In addition, two Community Open Houses have been held to receive public input on the proposed urban renewal plan. Those meetings had a total of over 50 attendees. 

If adopted, the Nelscott Urban Renewal (Tax Increment Finance) Plan will establish the urban renewal boundary, goals, and objectives for the area, and outlines project and programs that will help improve the conditions of the Area.  

Project Update

The Nelscott Urban Renewal (Tax Increment Finance) Plan was approved unanimously by the City Council on August 28, 2023. The final approval followed the Lincoln County Board of Commissioners vote to adopt the Plan on August 16, 2023 and the Lincoln City Planning Commission's review of the Plan's conformance with the City’s Comprehensive Plan. The Planning Commission made their motion to support the Plan on July 18, 2023. 

The Plan was officially adopted and recorded with the County on September 27, 2023.

Based on this timeline, the Agency will begin collecting revenue in October 2024. Typically, it takes about five years of collection before projects begin.  

Documents