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Auburn pays back TIF monies

By John Nixon

09/25/2024

(KLZA)--Nebraska Attorney General Mike Foley announced Monday that the City of Auburn has returned $658,003 of what was determined by a state auditors investigation to have been overcollected Tax Increment Financing funds.

Foley says the excess funds will be returned to schools and local government entities in Nemaha County.

During an interview with The Nebraska Examiner, Foley alleged that Auburn's Community Redevelopment Authority collected more TIF revenue that it should have for certain redevelopment projects and then used the funds to pay for different projects.

Tax Increment Financing is use by local municipalities for economic development and redevelopment projects in blighted areas.

State Auditor Foley listed out his concerns to Auburn and Nemaha County authorities in a letter in May.

Auburn was allegedly using TIF revenue remaining from a redevelopment project by rolling it over into an account to be used for other projects.

Foley said that reality is that Auburn has put the money back where it belonged.

Foley has noted he has concerns statewide regarding the increased use of TIF. Foley says cities are attempting to cleanup blighted areas and incentivize economic development which is good, but he feels we may have reached a point were things are a little out of control.

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