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Hastings council approves TIF‑backed plan to convert old middle school into 68 apartments
Summary
After a public hearing, the Hastings City Council approved a plan modification to use tax‑increment financing and other public and private funds to support a 68‑unit adaptive reuse of the former middle school; the measure passed 7–1.
The Hastings City Council voted to approve a redevelopment plan modification that clears the way for a tax‑increment‑financing (TIF)‑supported conversion of the city’s former middle school into a 68‑unit apartment building.
Mayor Huntley closed the public hearing and the council approved Resolution No. 2026‑0606 — the vote passed 7–1. City staff and project supporters told the council the project covers about 1.69 acres near the northeast corner of North Lincoln Avenue and West Fifth Street and depends on a mix of public and private funding to be financially feasible.
Why it matters: City staff and the Community Redevelopment Authority (CRA) said the adaptive reuse is unlikely to proceed without TIF because construction costs outpace the project’s income valuation. Randy Chick, speaking for the CRA, outlined the proposed financing package: approximately $7.5–$8 million in bank financing, about $2.4 million in owner equity, a $1.8 million TIF loan, $830,000 from the Nebraska Affordable Housing Trust Fund (which carries a 10‑unit requirement restricted to households at or below 120% of…
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