OMAHA- Despite public concerns over allotting a tax subsidy to a casino developer, the City Council approved a multimillion-dollar financing plan for the proposed redevelopment of Omaha’s Horsemen’s Park on Tuesday.

Council members, on a 6-1 vote, authorized up to $17.5 million in tax increment financing for the Horsemen’s Park project, which envisions transforming the property into a casino, racing and entertainment complex, according to the proposal.

Don Rowe was the lone “no” vote on the resolution. The District 5 councilman said he has long been a proponent of TIF. Rowe also said he signed the petition to allow Nebraskans to vote on the legalization of casinos in the state, which voters overwhelmingly approved in 2020.

“When I talk to my constituents, they are OK with the project,” Rowe said. “They’d rather spend their entertainment money in Omaha than go to Council Bluffs, no question about it, but they are having trouble with understanding why we should rebate back tax dollars to pay for the infrastructure costs.”

Tax increment financing, known as TIF, is a frequently used but sometimes controversial redevelopment tool based in state law. It allows developers to take out a loan to help cover eligible redevelopment expenses in areas deemed blighted.

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