NEBRASKA CITY – Nebraska City commissioners agreed Monday to a tax increment financing program for housing and revitalization of property on the National Register of Historic Places.

Alison Borer of the law firm Cline Williams told commissioners that the state Legislature passed a law in 2020 that allows cities to offer micro-TIF in order to cut out the long hearing and notice process of tax increment financing.

Rather than hearings before the planning commission and city council, the city administrator would do an initial review of applications and place qualifying projects on the city council agenda for approval within 30 days.

Buildings or vacant lots that have been in the city for at least 60 years can qualify for micro-TIF when the completed value is not more than $350,000 for single-family residences, $1.5 million for multi-family residential or $10 million for revitalization of a property on the National Register of Historic Places.

Structures listed on the National Register of Historic Places include Arbor Lodge, Grand Army of the Republic Hall, Kregel Windmill Company, Mayhew Cabin, Nebraska City Burlington Depot and Jasper Ware house.

The city has currently listed the Burlington Depot for sale.