Housing construction, (Brian Neben, Central Nebraska Today)
HASTINGS — The Hastings city council approved tax increment financing assistance for the Trailside Village project which aims to add new homes in northeast Hastings during their meeting on Monday, April 14.
The Hastings Community Redevelopment Authority, on behalf of Queen City Development, LLC, applied for the Trailside Village Redevelopment project. The goal is to construct 31 new dwelling units on the vacant parcel that is generally located southeast of the intersection of East 31st St. and W. Laux Dr.
Queen City Development was seeking $1,400,000 in TIF to assist with the project.
Tax increment financing (TIF) in Nebraska is primarily designed to finance the public costs associated with a private development project. Essentially, the property tax increases resulting from a development are targeted to repay the public investment required by a project.
Each until would be 1,500 square feet on the first and second floors. There are will be 14 manufactured duplexes and one tri-plex that will be built to offer a community setting intended to be rented in the first few years and then sold individually as single-family homes.
The TIF funds will be used to purchase the land from the Hastings Economic Development Corporation by the end of the month. The end goal is to have all 31 units in place by the end of the year.
The Planning Commission held a public hearing on the item at their March 15, 2025, meeting. The
Commission voted 6-0 to recommend approval.
Mark Funkey, Hastings City Administrator, noted the Trailside Village project is “excellent and innovative project in the North Park Commons area,” and recommended approval.
The council approved the request 7-1, with council member Mike Anderson voting in dissent.
