level of commitment and support from the local business community will be compared to other applicants. Points in this section include: 0-49—no evidence, or very little evidence from the business community that it will commit resources and support downtown revitalization efforts. 50-100—significant evidence from the business community that it will commit resources and support downtown revitalization efforts. This includes: letters of support; financial commitments from businesses; letters of intent from businesses to commit resources to the project; and any other evidence that identifies the support of the business community Matching Funds: Up to 50 points possible. No minimum points in this section are required in order to meet threshold. For purposes of DTR applications, matching funds are defined as local funds (including funds and or in-kind contributions) committed to the project’s “other” activities that exceed the required match. Points will be awarded to applicants based on the amount of matching funds provided that exceed the required match. Communities who provide more matching funds will receive points within this section. The table below further describes this scoring criteria. Matching 50 points 10% or greater of total project costs above required match 25 points 5-9.99% of total project costs above required match 10 points 3-4.99% of total project costs above required match 0 points Less than 3% of total project cost above required match MEF: Up to 100 points possible. No minimum points in this section are required in order to meet threshold. A Municipal Equalization Fund (MEF) score will be generated for each community that has applied for this program. The Municipal Equalization Fund (MEF) was created in 1996 as a needs-based method of providing state aid to cities. The program is administered by the Nebraska Department of Revenue, with data provided by the Department of Revenue’s Property Assessment and Research Divisions, and the Nebraska Auditor of Public Accounts. Final aid calculations for Nebraska communities are posted in June of each year. This aid formula provides a way of looking at and resources while at the same time ensuring that local governments provide a level of local resources. DED will incorporate the MEF calculation into the scoring criteria for this program. Each city’s population is multiplied by the average per capita property tax levy for the relevant population Then each city’s property tax valuation is multiplied by the state average
level of commitment and support from the local business community will be compared to other applicants. Points in this section include: 0-49—no evidence, or very little evidence from the business community that it will commit resources and support downtown revitalization efforts. 50-100—significant evidence from the business community that it will commit resources and support downtown revitalization efforts. This includes: letters of support; financial commitments from businesses; letters of intent from businesses to commit resources to the project; and any other evidence that identifies the support of the business community Matching Funds: Up to 50 points possible. No minimum points in this section are required in order to meet threshold. For purposes of DTR applications, matching funds are defined as local funds (including “other” funds and or in-kind contributions) committed to the project’s activities that exceed the required match. Points will be awarded to applicants based on the amount of matching funds provided that exceed the required match. Communities who provide more matching funds will receive points within this section. The table below further describes this scoring criteria. Matching 50 points 10% or greater of total project costs above required match 25 points 5-9.99% of total project costs above required match 10 points 3-4.99% of total project costs above required match 0 points Less than 3% of total project cost above required match MEF: Up to 100 points possible. No minimum points in this section are required in order to meet threshold. A Municipal Equalization Fund (MEF) score will be generated for each community that has applied for this program. The Municipal Equalization Fund (MEF) was created in 1996 as a needs-based method of providing state aid to cities. The program is administered by the Nebraska Department of Revenue, with data provided by the Department of Revenue’s Property Assessment and Research Divisions, and the Nebraska Auditor of Public Accounts. Final aid calculations for Nebraska communities are posted in June of each year. This aid formula provides a way of looking at and resources while at the same time ensuring that local governments provide a level of local resources. DED will incorporate the MEF calculation into the scoring criteria for this program. Each city’s population is multiplied by the average per capita property tax levy for the relevant population Then each city’s property tax valuation is multiplied by the state average
Chapter_3_DowntownRevitalization.docx