An important revitalization tool used by the City of Omaha is called TIF.  TIF is used to help finance the cost of making improvements in a redevelopment project area.

When an improvement is made to a property in a TIF-designated redevelopment area, taxes in that area rise.  That increase, the difference between taxes before and after the improvement, is “captured” and used to finance the cost of the improvement.  In this way, TIF makes it more economically feasible to locate and build in an area that otherwise would have less appeal and be more expensive than competing areas.

At base, TIF offers an economic development incentive to encourage private investment and redevelopment, permitting cites to:

• replace and/or rehabilitate deteriorated buildings
• develop housing for low-income and moderate-income families
• finance public infrastructure such as streets, sewer and water systems, and sidewalks 

The City of Omaha has used TIF extensively for over thirty years on projects ranging from the revitalization of downtown Omaha and midtown Omaha, to the creation of the Aksarben Village, the Airport Business Park, and the Stockyards Business Park in South Omaha.

TIF Application   TIF Guidelines   Community Redevelopment Area Map   TIF Project Statistics - Job Information Worksheet

Contact HCD for more information.