ORD 40126 - Rescind Ord 37300 - Oasis Inn and Suites TIF Agreement �
4. ?'s7 lir RECEIVED Planning Department
Omaha/Douglas Civic Center
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roOmaha,Nebraska 68183
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CITY CLERK James R.Thele
City of Omaha
Jean Stothert,Mayor O M A H A, NE B R A S K A Director
September 9, 2014
Honorable President
And Members of the City Council,
The attached Ordinance is administrative as it rescinds the Tax Increment Financing (TIF)
Redevelopment Agreement between the City of Omaha and Grover Street Acquisition, LLC
which was to implement the Grover Street Acquisition, LLC Oasis Inn and Suites
Redevelopment Project Plan. The Plan contemplated the development of a hotel and water park
at 7007 Grover Street. This Redevelopment Agreement was approved by the City Council on
February 28, 2006 by Ordinance No. 37300, which provided for the use of ad valorem taxes
generated by such development and obligated the Developer to complete the Redevelopment
Project.
The proposed Redevelopment Project never materialized, and thus the City is canceling this
Redevelopment Agreement. No TIF proceeds have been allocated for this project. However, if
any excess ad valorem taxes or TIF were generated, those taxes will be returned to the taxing
jurisdictions.
Your favorable consideration of this Ordinance is requested.
Sinc rely, Referred to City Council for Consideration:
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Jamth. l
s R. Thee Date Mayor's Office/Title Date
Pla ping Director
Approved as to Funding:
gAr - ‘5)-/'V
h . Curtiss
p ate
Ste Rob rt G. Stubbe, P.E. Date
Finance Director ti Public Works Director
2024 dlh
ORDINANCE NO. 7a,--Zw
AN ORDINANCE Rescinding Ordinance No. 37300 passed on February 28, 2006 approving a
Tax Increment Financing (TIF) Redevelopment Agreement with Grover Street
Acquisition, LLC, a Nebraska Limited Liability Company, c/o Kathryn Barker, 405
North 115 Street Suite 100, Omaha, Nebraska 68154 to implement the Grover Street
Acquisition, LLC Oasis Inn and Suites Redevelopment Project Plan for the development
of a hotel and an indoor water park at located at 7007 Grover Street, and providing for an
effective date.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF OMAHA:
Section 1. The Redevelopment Agreement with Grover Street Acquisition, LLC to
implement the Grover Street Acquisition, LLC Oasis Inn and Suites Redevelopment Project Plan
for the development of a hotel and an indoor water park located at 7007 Grover Street, passed by
the City Council on February 28, 2006 by Ordinance No. 37300, shall be and is hereby
rescinded.
Section 2. This Ordinance shall be in full force and take effect immediately from and
after the date of its passage.
INTRODUCED BY COUNCILMEMBER:
APPROVED BY:
bk4. 03*i
MAYOR OF THE CITY OF OMAHA iDATE
PASSED SEP 2 3 2014
ATTEST:
7/50/CITY CLERK OF THE CITY OF OMAHA DATE
APROVED AS TO FORM:
CITY ATTORNEY DATE
2024 dlh
%/5 7
ORDINANCE NO. /o.2(
AN ORDINANCE rescinding Ordinance No.
37300 passed on February 28, 2006
approving a Tax Increment Financing (TIF)
Redevelopment Agreement with Grover
Street Acquisition, LLC, a Nebraska
Limited Liability Company, c/o Kathryn
Barker, 405 North 115 Street Suite 100,
Omaha, Nebraska 68154, to implement the
Grover Street Acquisition, LLC Oasis Inn
and Suites Redevelopment Project Plan for
the development of a hotel and an indoor
water park located at 7007 Grover Street;
and providing for an effective date.
2024 dlh
PRESENTED TO COUNCIL
7/)ng
9� 6
SEP 1 6 2014 -Gm?r -
PUBLICATIONS Final Reading SEP 2 3 2014
PUBLICATION OF HEARING Passed
Date 9 r
BUSTER BROWN
PUBLICATION OF ORDINANCE City Clerk
Date r 0-r ( 1 q--