Bill on changing ‘blighted’ tag for TIF projects passes 1st round in Nebraska Legislature
“Cities would no longer have to declare properties “blighted and substandard” to provide tax-increment financing for redevelopment projects under a proposal given first-round approval by the Nebraska Legislature on Tuesday.
The “blighted” tag causes consternation for property owners due to the stigma it attaches to a plot of land and worries that it will lower property values.
The most recent instance was in Omaha in 2012 when property owners in the Old Mill area of west Omaha complained about attaching the blighted label to land around the new TD Ameritrade headquarters. There was also talk about designating the area around Crossroads, including the affluent Fairacres area, in central Omaha, as “blighted.” The city ended up removing Fairacres.”
Hammel, Paul. Omaha.com 16 January 2014.