LB840 Funds - Loans and Grants: Since 2013, $1,340,451.48 in LB840 funds have been distributed through this program.

The Local Option Municipal Economic Development Act is based on the premise that communities should use their own tax dollars in ways that best meet local needs. The City of O’Neill is utilizing the LB840 funds to create jobs; generate employment opportunities and increase the number of households in the City of O’Neill and Holt County. Through the attraction of new capital investment in our community we are working towards sustainability and vitality for the community and surrounding area.​

LB840 Funds – Property Improvement Program Grants

For commercial properties, the Property Improvement Program (PIP) supports exterior business improvements, from minor renovation and historical façade renovations and structure demolition.  Residential properties are only eligible for demolition activities.  The rear and sides of commercial buildings that are visible from major travel corridors and sidewalks may also be eligible on a case-by-case basis.  Professional, legal, design and the City permit fees may be included in the total storefront improvements cost.

Since 2015, twenty-five PIP grants have been awarded totaling $86,073.73.

Tax Increment Financing (TIF)

The City of O'Neill has the ability to use TIF to assist new or expanding businesses. TIF is the use of newly created property tax dollars on improvements. It is the use of new tax dollars that would not exist without the project. TIF can only be used in areas that have been designated as blighted and substandard.​

TIF projects:

  • Adamson Distributing - Rehabilitation to the real estate by adding a 7,200 square foot addition to the existing distribution/warehouse facility on the real estate.
  • Evergreen Assisted Living Facility - Rehabilitation of real estate for use as an assisted living facility for the elderly.
  • Holiday Inn Express - Change in current land use by acquisition and demolition of existing motel due to obsolescence and condition of the premises. New structure will include meeting rooms and an indoor pool.
  • Church Street Area Redevelopment Plan - The project entails the engineering, easement acquisition, installation and financing by the City of O'Neill of paving, curb, gutter and storm sewer in the Church Street addition.
  • 21st Century Growers Hydroponics - Facility - Rehabilitation of real estate for constructing a ten acre hydroponic green house.  
  • Bank First – Facility – Rehabilitation of real estate for constructing a full service banking facility.  
  • M.J. Kersenbrock D.D.S – Demolition and removal of existing building, demolition of concrete structures and site preparation, site acquisition, installation of utilities and new construction of a dental facility. 
  • O'Nell Senior Living - Rehabilitation of real estate for us as a memory care and assisted living facility for the elderly.

Holt County Economic Development

"Nebraska's Irish Capital"

City of O'Neill

The City of O’Neill is a partner in the Holt County Economic Development effort. HCED has been established through an inter-local agreement and is a partnership of all municipalities to enhance and promote economic vitality and a strong sense of community for existing and future businesses in Holt County.  For more information on HCED or to start up or relocate a business in O’Neill, please contact Holt County Economic Development Director Darby Paxton at 402-336-1504 or Please visit HCED’s website and witness all of the exciting activity in Holt County.