On September 11, 2023, the Nebraska Department of Economic Development will begin accepting applications from inland port authorities requesting funding under the Site and Building Development Fund subaccount (SBDF Subaccount). The Department will accept and review applications on a rolling basis.
The Nebraska Legislature created the SBDF Subaccount to finance large, shovel-ready industrial sites developed under the Municipal Inland Port Authority Act. Only inland port authorities that are properly formed and functioning pursuant to all requirements of the Municipal Inland Port Authority Act are eligible to apply for SBDF Subaccount funds. Among other requirements, inland port authorities will need to provide a description of the large, shovel-ready industrial project for which the inland port authority seeks to use SBDF Subaccount funds. A proposed project must have a total cost of at least $1 million. It must also be able to begin development within six months of executing a SBDF Subaccount agreement with the Department. Additionally, a proposed project must have as its purpose the development of business, manufacturing, or other commercial sites within an inland port authority’s designated inland port district.
Additional information can be found in the SBDF Subaccount guidelines which are available on the Department’s Municipal Inland Port Authority Act webpage.