NORFOLK - The Norfolk City Council approved a change to the City’s Economic Development Plan.
The plan allows Norfolk to collect and appropriate local tax dollars—including sales and/or property tax, if approved by the local voters—for economic development purposes.
City Administrator Andy Colvin told council members the change now includes retail as a qualifying business.
"The reason for this is for our recent approval that we got from the USDA for a revolving loan to set that up. The matching funds we have for that grant are our LB840 dollars is what we had proposed that has been approved. The final thing we need to do is amend our Economic Development Plan to provide for that."
Colvin said the purpose for adding retail business is to allow the small businesses to be able to qualify for financial help from the city.
The council approved the change on all three readings.