LB840 Fund Reviewed at City Council Meeting

NORFOLK - A required public hearing was held earlier this week at the Norfolk City Council meeting to review the city's LB840 economic development program.  City Finance Director Randy Gates is an ex-officio member of the Citizens Advisory Review Committee and told the council the group met on December 3rd.  Norfolk's LB840 economic development fund has a balance of $1.14 million.  So far the LB840 funds have assisted with the Premiere Marketing development at the corner of Benjamin Ave. and Riverside Blvd.  A second project for Petersen Ag Systems has been approved for funding up to $60,000.  Gates says a preliminary site has been selected for that development and is undergoing environmental review.  State law requires a public hearings every six months for LB840 programs.