Serving proudly since 1873 as the beautiful Nebraska Panhandle's first newspaper
Serving proudly since 1873 as the beautiful Nebraska Panhandle's first newspaper
In August 2018, the City of Sidney approached voters to amend the LB840 program to accept private donations. On June 25, Economic Development Director Melissa Norgard announced the City was awarded a grant from an anonymous donor of $300,000 annually. The award is for four years with the potential of $1.2 million added to the LB840 fund.
“This is a huge deal,” Norgard said to the Sidney City Council June 25.
She said the funds will be for development of future new jobs. The funds can only be used for future projects. As the program works, if a company enters an agreement with Sidney’s Economic Development Office, agreed-upon funds are disbursed to the company and the Economic Development Office then submits a request for funds from the Nebraska Community Foundation.
“The best part is we will have lots of new jobs to show for it,” she said.
The funds were awarded to Sidney by an anonymous donor-advised fund through Nebraska Community Foundation. The fund is represented locally by Wendall Gaston.
The funds will be utilized to create jobs and attract new businesses to Sidney and Cheyenne County. The revised economic development plan that was approved by voters through a special election in August of 2018 allows the City to accept these contributed funds for the purpose of job creation. These funds will be used in accordance with all the guidelines approved by voters in the economic development plan.
City of Sidney and Cheyenne County Economic Development have been working with Nebraska Community Foundation for the past year to determine the best use of funds in Sidney. Economic development and new jobs are a priority in Sidney, and City and Economic Development officials are working to continue to bring new jobs and opportunities to the residents of this region. The City is grateful for the funding and knows investing in jobs will prove to be a great investment both in the near- term and into the future.
Nebraska Community Foundation (NCF) is a tax-exempt public charity in accordance with Section 501(c)(3) of the Internal Revenue Code. NCF is governed by a volunteer board of directors made up of a diverse group of community leaders from across the state. NCF board and staff are committed to good governance practices, transparency and accountability to the communities, organizations and donors they serve. The NCF network comprises 220 affiliated funds benefiting 257 communities in 82 Nebraska counties. Since 1994, NCF has reinvested $323 million in Nebraska’s people and places.
Reader Comments(0)