Loading...
RES 2013-0579 - Traver's Row TIF redevelopment project plan cF0"'AHA'NFB� � a, \I Planning Department : Omaha/Douglas Civic Center altii +y �'�'Ab ' :�J 1819 harnam Street,Suite 1100 n ¢� • ,1I i 13 tP t Omaha,Nebraska 68183 o ; le. .• (402)444-5150 O 4 Telefax(402)444-6140 �'rED FE8RUA Clr1 f� `_ c ? R. E. Cunningham,RA,F.SAME Cityof Omaha Dtrector Jim Suttle,Mayor April 30, 2013 Honorable President and Members of the City Council, The attached Resolution transmits the Traver's Row Tax Increment Financing (TIF) Redevelopment Project Plan. This project proposes the complete rehabilitation of 10 historic duplex apartment buildings arid the rehabilitation of the structure which contains a commercial tenant space, the former Super Bee Mart, and apartments above located at 26`11 and St. Mary's Avenue. Originally named Traverhurst Rows, the buildings were built in 1916 by the Traver's Brothers and are an excellent example of working class tenement housing in Omaha during that era. The owner has submitted these buildings for the National Registry of Historic Places, approvals are underway. The neglected and vacant buildings have fostered vagrancy within the neighborhood for many years. The rehabilitation of these buildings will restore a vibrant residential character to the neighborhood, remove code violations, make the project a productive asset and bring much needed revitalization to this area of Midtown. The Redevelopment Project Plan recommends the City's participation in the redevelopment of this project site through the allocation of TIF in an amount up to $318,500.00 to offset costs such as acquisition, site work, rehabilitation, architectural and engineering fees, surveying, and any public improvements to include $10,000.00 in TIF contributions toward the street improvements along Leavenworth Street corridor. The estimated total project cost is $1,853,500.00, but is subject to change as final costs come in. Your favorable consideration of this Resolution will be appreciated. Respe submitte Refe o City Cou it for Co sideration: /4 /o '(3 unpin ham . S Date Mayor's Office Date • g Y Planning Director Approved: 3 Allen Herink Date Robert G. Stubbe, P.E. Date Acting Finance Director 0 Public Works Director 1838 dlh Notice of Publication: May 2, 2013 and May 9, 2013 Public Hearing: May 21, 2013 EXifiQ V, /i 4)Survey & Legal Description of project site Description Name &Completed by Topographic Survey - Traverhurst Duplexes (Renamed Traver's Row) Ehrhart Griffin &Associates boughs CovNrI f-sse-ssDR.'s Recokb A-ETAcENT Itrpx) LOT PROJECT NO. EGA121056—TS I N y O g BS R U I II •••�• -_ iPK 11 F pV At t, A„ N. gib, ' _. I / 15,OUST iNOIDI ..M 11 ........... . TO n (� /. I W TII 34=I �115111 � IEEE- — II w Wq I II f k wLOT 4 • . W :1 •tA iLOT 2 LOT 1 &;� II LOT 5 k LOT 3 t CI i I�lk.ei WC' �' _v,� 'WEE p I�M1m1 IA 3 I ° '� LEGAL DESCRIPTION EHRHART iltlN3E � n� l'il 'wN TRAVERHURSi A SUBO ASION CONTAINING LOTS I THROUGH 1 NCLUSL£ AND PORTIONS\1 ••_ - OF 26TH AVENUE(PUBLIC RIGHT-Or-WAY)AND.TONES STREET(PUBLIC RGHi OF WAY) GRIFFIN & G LOT 8 R1: ,P,P, I "" I -� mrril r II ALL As SURVEYED.PLAITED AND RECORDED n DWans COUNTY,NEBRnsKA. , ' I PRIVATE PROPERTY As SURvEYE0 HEREON: ASSOCIATES < "HE •,. } --"i„✓. In A52 F 51,68131 }} ee . LOTS THROUGH t NCLUSVE TRAVERHURSI A SUBDINSON,AS SURVEYED.PLATTED ANO OmanaNebraska d i '" :� _�. • C—• �- __ _ +1 _° _ RECORDED N OOUGLA6 COUNTY NEBRASKw A02/551 0631 ry • A a - 4Y F�a < {FPf1 _d _R- I III�C 3 6 --'°' s CI •. •w:.------1,---.,-.- 36'TA---, e- ��IE •ENGINEERING �R' , _"' _ _ i II •PLANNING " •_ ^•w III •LAND SURVEYING lww, _ -� 4 I r1 I �� —_ xeRn t i'C i xn. m.IM 111 • 15, �! v i31 �>'I - I ! III 1Vt OMj. iti, / t N ! LOT 11 g,i IUjlll NISCELUNEOVS NOTES: LOT 7 3 LOT 9 LOT 30 �g 1)THE CURRENT Con CONING FOR THE SUBJECT PROPERTY(PER PueuC RECORD)Is. — �_ i!. T R I LOT B T Joe,. sD1 J} "� I. 11 05 Ae 1(PL7 DormTDVm sERNCE DISTRICT YARN An AO OVERLAY 1 g IIE� IR@ �� .1 H'3 i 12 _ e Ylai' 1F�c O>E7iF'n..L„1�' II A a �" 7— y Iw�l11r• ��' _ -�' �-t- II RECANRENENT I— N.26THr ,T.4t y =-oi. -�_ ,y '—`w T� y > qq o n AARD Gr > a 5 ,_v Iy II II ROOM No ECONRNAENT II asE ,,,,, Tao PE¢x rtAMn,,o Q t,)o II Mas COCAR ma rcACE,rcxu,o A Q II ACI-1(PL)-OVERLAY LA •CI II ,A A swu,n RE NM Tab Or N,ERP ,30),PAANDAAALY FOR REP usw/aNA,wcnrn YTo nkan0F ANY wOOLCNS EA..sr CO ii OAST a 20.0 EAR... aNAHA PEAxxx�a z 2)x CER GTE OF TIRE INSURANCE/INFORMATION WAS SUPPLIED TO THE NAA)FRes�,, Y BE ADMK)NAL SUPPLEMENTAL sin RESTRICTIONS.EASEMENTS, g ill Q CCVIENA TS,,AAGREENEMS OR ENCUMBRANCES.RECORDED OR NOT RECORDED,THAT APPLY.IF �1 _ THE OWNER IS AWARE oF ANY<ENRONAA OFOR RNTAIION.R SHOULD BE ORWARDSU TO SEE Z Q ARCHBECT.ENGINEER AND LAND SURVEYOR FOR RENEW.THESE RE THE ZONING SET BACK LAIRSAS SNDWN. RESTRICTIONS mkt'SUPERSEDE L/.Ryy N w m 3)SUBJECT PROPERTY CONTNNS 29.635 SOUARE FEET OR 0.6E15 ACRES.MORE OR LESS.COMBINED. 11WA4N WO O LOTS 1 THROUGH O CONTAIN 16.910 SWARE FEET TOTAL. LOTS B THR0OCM 11 CONTAIN 10,925 SWORE FEET TOTAL. T /N 1 ♦)FLOOD ZONE OF SUBJECT PROPERTY-PER DOUGLAS COUNTY,NEBRAStA FLOOR INSURANCE �R Y^V l0 RATE MAP COMMUNITY OF THE CTY WAHA(COMMUNITY NUMBER-315224).ANNUAL YAP 'e4 EV nuNBER DIOSSCINDOC(NAPPING INOM.DATED MAY J.2010,IS ZONE::TMS TRACT LIES IN AN AREA DETERMINED TO BE OUTSIDE THE 0.2W ANNUAL CHANCE FLDWPLNN(PER FLOW INSURANCE RATE NAP INC.-PANEL NOT PRINTED). E ' LEGE D TK O 5)THE UTILITY LOCATIONS ON THIS PLATARE THE RESULT OF A COMBINATION OF FOLD iD POSITIONS AND/OR AS-BUILT ORAMINGS PROMDED BY THE UTILITY COMPANIES Al s/� 11/CAP(U.Ma) ...•a-PPO FWD NO.) 0,00.0 ARH1 "� ow. OURAREWE51 AND ARE THEREFORE SUBJECT TO INTERPRETATW.THE LOCATIONS ARE A-FpMO RUR(F iVM - TWIT NmGUAMAm Dig,"Hadln< nq,a 00 APPRO WARE AND NO WARANTEE IS MADE OR IMPLIED AS TO THEIR ACCURACY. FURTHER 0 (T'4P.) �-LVFBDERIRi00 0SCA H.oMM P J _ 1XF6FICATIW MAY BE REQUIRED TO IDENTFY UTUTIES NOT SHOWN HEREIN CONTACT DY LNw�[vn0 OW Nehmckn l\ � �TREK pHENOLE .. Loll T A ��` DIGGERS HOTLINE OF xEBRASRA AT 1-800-331-5666 IN REDRAW OR IOWA ONE-CALL Ai ,) 1-BOO-292-BBB9 IN IOWA STORYne1o1RRn 6)ALL SANITARY AND STORM PIPE SIZES(DIAMETERS)HERE ESTIMATED AT THE SURFACE E On P.. 4�N NY LUH) NoTE: F ncenset mow.a OF THE STRUCTURE.CONFINED SPACE ENTRY'WAS NOT EMPLOYED TO MEASURES DATE: 4/11/2012 II RCM= IL DIAMETERS DIRECTLY.ALL PIPE DIAMETERS ARE SUBJECT TO VERIFINATPO BY TH o.MT p ,W IstFE"IxVPO �117 MTWIE011117 a 9Mr. CONTRACTOR. DESIGNED BY: RPM 1W�MAMMY1.1 OREIRL4 # !� 'M ro POMO t...PE W v 7 ELEVATIONS SHOVM HEREON ARE U.S..,FROM CITY LOCATED DDAT DATUM BY SWAT ON. .'� Fim a MAIM Odd M.nL n%NNw �Now ' COM.1 so-1-e a InA,q'0oo.ply.N0 OO 0 1 0 B M.:NORTH STORM SEMEN E. n ED AT HE INTERSECnon OE DRAM BY. WOO ovum 0 W. � ONna vALr< OPo2ON TAL CONtn DTR-116 V,LJRA STREETS. D Mnt TV U MAWO 99H PAR 9'(u.s.CS DATUM) CHECKED BY: PHy�llxxx BJ H 11 r ASSUMED/LOCAL DATUM. LK CRC*. aERASA9 Biqa_ • • LB-5,0 LOUD SURVEYOR'S CERTIFICATE ' g'j' o,.Y,v,„REO I.,RD F(/9Ar . NWnroA uxOEn T,IE uRs a ra n uE m aOnuRA A'� OME 4,13/12 SHEET N0. 1 OF 1 Douglas County Account Information Page 1 of 2, Douglas County, Nebraska Property Record - R2316970000 Print Report View Interactive GIS Map Information is valid as of 2013-4-1 Treasurers Tax Report New Feature 44 .4 Subdivision Sales Search Owner ENLR LLC & ULFERTS ROW HOUSE 2612 N 152 ST OMAHA NE 68116-0000 Property Information Key Number: 1697 0000 23 Account Type: Commercial Parcel Number: 2316970000 Parcel Address: 2609 ST MARYS AV OMAHA NE 68105-0000 Legal Description: SWITZLERS SUB DIV LOT 3 BLOCK 0 54 X 103 Value Information Land Improvement Total 2012 $11,100.00 $4,600.00 $15,700.00 2011 $11,100.00 $4,600.00 $15,700.00 2010 $11,100.00 $4,600.00 $15,700.00 2009 $11,100.00 $4,600.00 $15,700.00 2008 $11,100.00 $4,600.00 $15,700.00 2007 $11,100.00 $4,600.00 $15,700.00 Sales Information Sales Date: 2003-04-08 Deed Type: WD Book: 1 2003 11 Page: 163346 Price: $17,500.00 Grantor: I Donald E Olson ETAL Grantee: William J Simmons ETAL Valid/Invalid: I Valid Exclusion Reason: Show All Transactions Land Information Acres SF Units Depth Width Vacant 0.12 5562.0 1.0 1 0.0 0.0 No http://douglascone.wgxtreme.com/java/wgx_douglasne/static/accountinfoj sp?accountno=... 4/10/2013 Douglas County Account Information Page 2 of Improvement Information L___i Building 1 aq pzi St'M ary iY+ �, u� j t,� 1 Ili Tp n- 6 .R •Al F,: Jones Int9:71i4Wb�HrtRNInFYrIr1A`Yr/]Yy3.f.Yr1:7 CLICK TO ENLARGE IMAGE __ carnAaic�o�mcwxin 7 2oo1 ]II CLICK TO ENLARGE IMAGE Square Footage: 1.0 i Percent Complete: 100.0% Perimeter j 0.0 Quality: Average Unit Type: i Condition: ' Average Built As: ' Parking Lot Condo Square Footage: 0.0 H- A None ! Rooms: a 0.0 Exterior: Units: 0.0 Interior: Baths: 0.0 loaf Cover: i Bedrooms: 0.0 Roof Type: ! Stories: 0.0 Floorcover: Foundation: Sprinkler Square Footage: 0.0 Year Built Year Percent Adjusted Year Physical Age Remodeled , Remodeled � Built 1990 0 0% 0 0 Detail Type Detail Description Units Add On Paving Asphalt Park 5000.0 http://douglascone.wgxtreme.com/javalwgx_douglasne/static/accountinfo.j sp?accountno=... 4/1 0/2013 EXHIBIT "B" TRAVER'S ROW TIF REDEVELOPMENT PROJECT PLAN 26TH & ST. MARY'S AVENUE MAY 2013 �Z,LAHA, /11 PLANNING•OMAHA O �' 4rED FEBIO'Q� Jim Suttle, Mayor City of Omaha R. E. Cunningham, RA, F. SAME Director, Planning Department Omaha/Douglas Civic Center 1819 Farnam Street, Ste. 1111 Omaha, Nebraska 68183 5 . CASE: C3-13-081 APPLICANT: Planning Department on behalf of the City of Omaha REQUEST: Approval of the TRAVERS ROW TIF REDEVELOPMENT PROJECT PLAN LOCATION: Southwest of 26th and St. Mary's Avenue SUBJECT AREA IS SHADED -APRIL 2013 L)I !R 1 • . CI-1( - I-) r GC-ACI-1(PL) .4... , R&ACI (RL) N - CI-1(PL) !NILGC-ACI-1(PL) rrco __ L i DS-ACI-1(PL) i • ''} -•—• , '-,-.-----T'il , 1-1i. Jones-St • GO-AC1 (P,L) DS-ACI-1(PL) a N. cil DS-ACI-1(PL) co • Leavenworth St GC•ACI (PL.) GC-ACI-1(PL) GC-ACI-1 Pi") N :. 0 300 Feet INTER-OFFICE COMMUNICATION City of Omaha,Nebraska Planning Department TO: Chairman and Members of the Planning Board FROM: R. E. Cunningham,RA,F.SAME Planning Director DATE: March 27,2013 SUBJECT: Traver's Row Duplexes TIF Redevelopment Project Plan 26th Street&St. Mary's Avenue Case#C3-13-081 This TIF project represents the complete rehabilitation of 10 historic duplex apartment buildings and 1 commercial bay that are currently condemned and in rapidly deteriorating condition. This project will have a market-rate,residential unit mix as follows: Rentals 1 bedroom =4 units (above commercial property) 2 bedroom =4 units (2 duplexes are 2 Bdrm) 3 bedroom =16 units(8 duplexes are 3 Bdrm) Owner-occupied = 0(No owner occupied) Total Residential Units =24 units Originally, named Traverhurst Rows, the buildings were built in 1916 by the Traver's Brothers and are an excellent example of working class housing in Omaha during that era. The owner has submitted these buildings for the National Registry of Historic Places; approvals are underway. The commercial tenant space, formerly a grocery store, and the apartments will receive a new roof as well as some cosmetic improvements to ensure the look and feel is consistent with the other properties. The neglected and vacant buildings have fostered vagrancy within the neighborhood for many years. This rehabilitation will include the replacement of broken windows, deteriorated porch structures, roofing,interior finishes,and mechanical,electrical and plumbing systems. Each apartment will have a replaced/remodeled bathroom and kitchen along with other modern amenities and details expected for medium income market rental rates. Exterior brick walls will be restored. The site will be reworked to provide adequate sidewalks,landscaping,lighting and parking located adjacent to each apartment.The site will receive new water and gas lines as well as new sewer hookups in half the units to meet City of Omaha sewer requirements. The project site is currently zoned DS-ACI-1(PL) and no zoning changes are required. Public infrastructure improvements will include new water and gas lines as well as new sewer hookups to 1/2 of the units,sidewalks,landscaping and lighting. A waiver may be required for a minimum sidewalk width of 7' to be reduced to 5'. Appropriate signage, landscape lighting and historically appropriate fencing will be details that improve the sense of neighborhood. The project is scheduled to be completed in spring 2014. No Building Permit will be issued based on a site plan that does not comply with the provisions of the Zoning Ordinance. BH Interoffice Communication Case#C3-13-081 Page 2 TIF Request: A TIF request of$318,500.00 will be used to offset cost such as acquisition,site work, rehabilitation,architectural and engineering,surveying,and any public improvements. We will request $10,000.00 of the TIF proceeds/loan to be contributed toward the street improvements along the Leavenworth Street corridor. The total estimated project cost is$1,825,500.00. This project will be required to comply with all Planning Department and Planning Board recommendations. The project site and area meet the requirements of Nebraska Community Development Law and qualify for the submission of an application for the utilization of Tax Increment Financing to cover cost associated with project development as submitted for approval through the Tax Increment Financing process. The project is in compliance with the Master Plan,appropriate Ordinances and development regulations of the City. DEPARTMENT RECOMMENDATION: Approval. ATTACHMENTS Plan BH INTER-OFFICE COMMUNICATION Date: March 19,2013 To: TIF Committee: Rick Cunningham,Cassie Seagren, Scott Winkler,AL Herink, Paul Kratz, Robert Stubbe, Todd Pfitzer, Gail Braun,Aida Amoura- Rezac From: Bridget A. Hadley- City Planning Applicant: Ulferts Row House Property Management, LLC owned by David Ulferts and ENLR,LLC owned by Jeffery Royal Project Name: Traver's Row Duplexes TIF Redevelopment Project Plan Location: 26th& St. Mary's Avenue Project: This TIF project represents the complete rehabilitation of 10 historic duplex apartment buildings that are currently condemned and in rapidly deteriorating condition. This project will have a market-rate, residential unit mix as follows: Rentals 1 bedroom =4 units(above commercial • property) 2 bedroom =4.units (2 duplexes are 2 Bdrm) 3 bedroom = 16 units (8 duplexes are 3 Bdrm) Owner-occupied = 0 (No owner occupied) Total Residential Units =24 units Originally named Traverhurst Rows, the buildings were built in 1916 by the Traver's Brothers and are an excellent example of working class tenement housing in Omaha during that era. The owner has submitted these buildings for National Registry of Historic Places, approvals are underway. The commercial tenant space, formerly a grocery store, and the apartments will receive a new roof as well as some cosmetic improvements to ensure the look and feel is consistent with the other properties. The neglected and vacant buildings have fostered vagrancy within the neighborhood for many years. This rehabilitation will include the replacement of broken windows, deteriorated porch structures, roofing, interior finishes, and mechanical, electrical and plumbing systems. Each apartment will have a replaced/remodeled bathroom and kitchen along with other modern amenities and details expected for medium income market rental rates. Exterior brick walls will be restored. The site will be reworked to provide adequate sidewalks, landscaping, lighting and parking located adjacent to each apartment. The site will receive new water and gas lines as well as new sewer hookups in half the units to meet City of Omaha sewer requirements. • The project site is currently zoned DS-ACI 1 (PL), no zoning changes are required. Public infrastructure improvements will include new water and gas lines as well as new sewer hookups to %2 of the units, sidewalks, landscaping and lighting. A waiver will be required for a minimum sidewalk width of 7' to be reduced to 5'. Appropriate signage, landscape lighting and historically appropriate fencing will be details that improve the sense of neighborhood. The project is scheduled to be completed in spring 2014. TIF will be used to offset costs such as acquisition, site work, rehabilitation, architectural and engineering, surveying, and any public improvements. We will request $10,000.00 of the TIF proceeds/loan to be contributed toward the street improvements along the Leavenworth Street corridor. The total estimated project cost is $1,853,500.00. TIF eligible costs are as follows: Acquisition $ 213,000.00 ($28K for duplexes+$185K for comml. space and apartments) Construction/rehab costs $1,635,500.00 (excludes $5k in legal fees) Total TIF Eligible $1,848,500.00 The project site and area meet the requirements of Nebraska Community Development Law and qualify for the submission of an application for the utilization of Tax Increment Financing to cover cost associated with project development as submitted for approval through the Tax Increment Financing process. The project is in compliance with the Master Plan, appropriate Ordinances and development regulations of the City. Request: The TIF request is $318,500.00; up to $337,077.00 inclusive of capitalized interest; bank interest rate of 5.75%. Using the current levy rate of 2.17448% supports the TIF amount inclusive of capitalized costs. See attached TIF calculation spreadsheet. TIF Fee Schedule: $500.00 application fee and the processing fee of $3,000.00 were paid; administrative fees of$0.00. Total fees will be $3,500.00. Recommendation: Approval ATTACHMENTS TIF Application TIF Calculation Spreadsheet Applicant: Travers Row PRO FORMA Debt Service Payments Total Less Pre- TIF Treasurer's Revenues -- Taxable Development Taxable Tax Tax 1%Collection Available Interest at Loan Capitalized Interest at DATE Valuation Base Valuation Levy Revenues Fee For TIF Loan Principal 5.75% Total Balance Interest 5.75% -- ---- -- --- -- --- -- . -- ______. -- 0 $318,500 0.5 $ - 0 $ - 2:17448 $ - $ - $ - $0 $0 $0 $327,657 9157 9157 1 $ - 0 $ - 2.17448 $ - $ - $ - $0 $0 $0 $337,077 9420 9420 1.5 $ 1,663,245 0 $ 1,663,245 2.17448 $ 18,083 $ 181 $ 17,902 $8,211 $9,691 $17,902 $328,866 0 9691 2 $ 1,663,245 0 $ 1,663,245 2.17448 $ 18,083 $ 181 $ 17,902 $8,447 $9,455 $17,902 $320,419 0 9455 2.5 $ 1,663,245 0 $ 1,663,245 2.17448 $ 18,083 $ 181 $ 17,902 $8,690 $9,212 $17,902 $311,729 0 9212 3 $ 1,663,245 0 $ 1,663,245 2.17448 $ 18,083 $ 181 $ 17,902 $8,940 $8,962 $17,902 $302,789 0 8962 3.5 $ 1,663,245 0 $ 1,663,245 2.17448 $ 18,083 $ 181 $ 17,902 $9,197 $8,705 $17,902 $293,592 0 8705 4 $ 1,663,245 0 $ 1,663,245 2.17448 $ 18,083 $ 181 $ 17,902 $9,461 $8,441 $17,902 $284,131 0 8441 4.5 $ 1,663,245 0 $ 1,663,245 2.17448 $ 18,083 $ 181 $ 17,902 $9,733 $8,169 $17,902 $274,398 0 8169 5 $ 1,663,245 0 $ 1,663,245 2.17448 $ 18,083 $ 181 $ 17,902 $10,013 $7,889 $17,902 $264,385 0 7889 5.5 $ 1,663,245 .0 $ 1,663,245 2.17448 $ 18,083 $ 181 $ 17,902 $10,301 $7,601 $17,902 $254,084 0 7601 6 $ 1,663,245 0 $ 1,663,245 2.17448 $ 18,083 $ 181 $ 17,902 $10,597 $7,305 $17,902 $243,487 0 7305 6.5 $ 1,663,245 0 $ 1,663,245 2.17448 $ - 18,083 $ 181 $ 17;902 $10,902 $7,000 $17,902 $232,585 0 7000 7 $ 1,663,245 0 $ 1,663,245 2.17448 $ 18,083 $ 181 $ 17,902 $11,215 $6,687 $17,902 $221,370 0 6687 7.5 $ 1,663,245 0 $ 1,663,245 2.17448 $ 18,083 $ 181 $ 17,902. $11,538 $6,364 $17,902 $209,832 0 6364 8 $ 1,663,245 0 $ 1,663,245 2.17448 $ 18,083 $ 181 $ 17,902 $11,869 $6,033 $17,902 $197,963 0 6033 8.5 $ 1,663,245 0 $ 1,663,245 2.17448 $ 18,083 $ 181 $ 17,902 $12,211 $5,691 $17,902 $185,752 0 5691 9 $ 1,663,245 0 $ 1,663,245 2.17448 $ 18,083 $ 181 $ 17,902 $12,562 $5,340 $17,902 $173,190 0 5340 9.5 $ 1,663,245 0 $ 1,663,245 2.17448 $ 18,083 $ 181 $ 17,902 $12,923 $4,979 $17,902 $160,267 0 4979 10 $ 1,663,245 0 $ 1,663,245 2.17448 $ 18,083 $ 181 $ 17,902 $13,294 $4,608 $17,902 $146,973 0 4608 10.5 $ 1,663,245 0 $ 1,663,245 2.17448 $ 18,083 $ 181 $ 17,902 $13,677 $4,225 $17,902 $133,296 0 4225 11 $ 1,663,245 0 $ 1,663,245 2.17448 $ 18,083 $ 181 $ 17,902 $14,070 $3,832 $17,902 $119,226 0 3832 11.5 $ 1,663,245 0 $ 1,663,245 2.17448 $ 18,083 $ 181 $ 17,902 $14,474 $3,428 $17,902 $104,752 0 3428 12 $ 1,663,245 0 $ 1,663,245 2.17448 $ 18,083 $ 181 $ 17,902 $14,890 $3,012 $17,902 $89,862 0 3012 12.5 $ 1,663,245 0 $ 1,663,245 2.17448 $ 18,083 $ 181 $ 17,902 $15,318 $2,584 $17,902 $74,544 0 2584 13 $ 1,663,245 0 $ 1,663,245 2.17448 $ 18,083 $ 181 $ 17,902 $15,759 $2,143 $17,902 $58,785 0 2143 13.5 $ 1,663,245 0 $ 1,663,245 2.17448 $ 18,083 $ 181 $ 17,902 $16,212 $1,690 $17,902 $42,573 0 1690 14 $ 1,663,245 0 $ 1,663,245 2.17448 $ 18,083 $ 181 $ 17,902 $16,678 $1,224 $17,902 $25,895 0 1224 14.5 $ 1,663,245 0 $ 1,663,245 2.17448 $ 18,083 $ 181 $ 17,902 $17,158 $744 $17,902 $8,737 0 744 15 $ 1,663,245 0 $ 1,663,245 2.17448 $ 18,083 $ 181 $ 17,902 $17,651 $251 $17,902 $0 0 251 $506,324 $5,068 $501,256 $345,991 $155,265 $501,256 $18,577 ASSUMPTIONS: (F9=calculate) NOTE:.This Information is provided to assist in analyzing the Original Loan Amount $318,500 specific request to the TIF committee. This Information is subject Capitalized Interest $18,577 1.Assume No Pre-Development Base to change based on actual tax assessments.This schedule assumes Loan Balance Remaining $0 2.Loan Amount: $318,500 a 90%real estate valuation and a 1.0 debt coverage ratio.The 3.Interest Rate: 5.75% actual TIF amount available to fund site specific project cost will $337,077 4.Project Hard Cos $1,848,050 " change based on the cost of public improvements. 5.Increment Base: $1,663,245 Est.Annual Incremental Tax Payment $ 36,166 • All project costs except legal Traver ' s Row TIF A ppli cation Cit y of O maha February 26, 2013 Traver' s Row Table of Contents Section # Title 1 Project Summary 2 Narrative 3 Site Plans & Elevations 4 Survey & Legal Descriptions 5 Sources & Uses, Financing 6 Construction Budget & Timeline 7 Pro-forma 8 ROI Analysis 9 Evaluation Criteria 10 Cost-Benefit Analysis 11 Organization Documentation 12 Attachments Traver' s Row TIF Application City of Omaha 1)Proj ect Summary Project Owner: Ulferts Row House Property Management, LLC owned by David Ulferts and ENLR, LLC owned by Jeffery Royal. Project Name: Traver's Row Named after the Traver brother's who built the 11 buildings in 1916. Project Addresses: 11 buildings located at 26th & St. Mary's plus parking lot to the East of 26th street 652 S. 26th Ave. (commercial space+4 single units) 658 S. 26th Ave. ,.. 662 S. 26th Ave. 666 S. 26th Ave. 670 S. 26th Ave. 661 S. 26th Ave. 665 S. 26th Ave. 657 South 26th Ave. 2601 Jones St. 2605 Jones St. 653 S 26th AV 2609 St Mary's AV(parking lot) Project Legal Description(s): Lot One(1),Traverhurst, an Addition to the City of Omaha, as surveyed, platted and recorded in Douglas County,Nebraska. /*- Lot Two (2), Traverhurst, an Addition to the City of Omaha,as surveyed, platted and recorded in Douglas County,Nebraska. The North 43 feet of Lot Three(3), Traverhurst Addition, an Addition to the City of Omaha, as surveyed, platted and recorded in Douglas County,Nebraska. �•. The South Two (S 2)of Lot Three(3) and all of Lot Four(4), Traverhurst, an Addition to the City of Omaha, as surveyed, platted and recorded in Douglas County,Nebraska. Lot Five(5), Traverhurst, an Addition to the City of Omaha, as surveyed,platted and recorded in Douglas County,Nebraska. Lot Six(6),Traverhurst, an Addition to the City of Omaha, as surveyed, platted and recorded in Douglas County,Nebraska. Lot Seven(7), Traverhurst, an Addition to the City of Omaha, as surveyed, platted and recorded in Douglas County,Nebraska. Lot Eight(8),Traverhurst Addition,an Addition to the City of Omaha, as surveyed, platted and recorded in Douglas County,Nebraska. Lot Nine(9),Traverhurst Addition, an Addition to the City of Omaha, as surveyed,platted and recorded in Douglas County,Nebraska. Lot Ten(10)—Traverhurst Addition, an Addition to the City of Omaha, as surveyed, platted and recorded in Douglas County,Nebraska. Lot Eleven(11)-TRAVERHURST ADD LOT 11 BLOCK 0 48.84 X 75.345,Addition to the City of Omaha, as surveyed, platted and recorded in Douglas County,Nebraska 2605 St Mary's Av SWITZLERS SUB DIV LOT 2 BLOCK 0 50 X 107.2, Addition to the City of Omaha, as surveyed, platted and recorded in Douglas County,Nebraska Estimated Total Project Cost: $1,825,500 ° TIF Request: $308,510 *44 Current Use: Ten condemned Duplex Apartments,plus one occupied mixed-use commercial retail building with four, one bedroom apartment units. Duplexes are approximately 1,200 square feet in size and the commercial space is about 900 square feet. The duplexes have not been occupied for 5 years and each has multiple code violations issued by the City Code Inspectors. Current Zoning: DS-ACI-1(PL) Proposed Use: Rehabilitation of the ten duplexes (20 units)maintaining current use as apartments for rent, under market rent rates; the commercial/retail building seeking a new tenant which will not include alcohol package sales. Current Annual Real Estate Taxes(2011 tax year): $7,866.24 Current Assessed Tax Valuation(2011 tax year): $318,200.00 Wit a 2)Narrative A. Detailed Project Description Traver's Row will be the complete rehabilitation of ten historic duplex apartment buildings that are currently condemned and in rapidly deteriorating condition. The neglected and vacant buildings have fostered vagrancy within the neighborhood for many years. This rehabilitation will include the replacement of broken windows, deteriorated porch structures,roofing, interior finishes, and mechanical, electrical and plumbing systems. Each apartment will have a replaced/remodeled bathroom and kitchen along with other modern amenities and details expected for medium income market rental rates. Exterior brick walls will be restored. The site will be reworked to provide adequate sidewalks, landscaping, lighting and parking located adjacent to each apartment. The site will receive new water and gas lines as well as new sewer hookups in half the units to meet City of Omaha Sewer requirements. The Commercial Tenant space and Apartments will receive a new roof as well as some cosmetic improvements to ensure the look and feel is consistent with the other properties. B. Ownership Structure/Control of Property Tenants in Common LLC ownership structure with 50% of the project owned by Jeff Royal w/ENLR LLC and 50% owned by David Ulferts w/Ulferts Row House Property Management. Dave Ulferts will be the primary point of contact and director of operations. ..I. C. Land Use Plan Street work will be required to improve parking, pedestrian circulation with better sidewalks, ramps and stairs to improve the safety of residents. Land use will remain as a densely populated urban residential neighborhood. Consideration has been given to additional land purchase to accommodate future growth of the usage and occupancy. A scenario where the commercial business has a greater need for employee and customer parking than what currently exists may result in additional land purchase and usage. D. Zoning—Current and Proposed Current DS-ACI-1(PL) Proposed zoning will remain the same. The Site Plan has been resubmitted for formal review which incorporated the slight revisions requested by City of Omaha Public Works. E. Public Improvements, if applicable Street work as referenced in Land Use. The design team worked with City Planning and Public Works Departments to optimize parking along Jones Street and comply with the ACI-1 urban design district regulations. Additional parking of exists at current existing parking lot directly East of property and street parking can be utilized on St. Mary's Avenue. Appropriate signage, landscape lighting and historically appropriate fencing will be details that improve the sense of neighborhood. F. Historical Status, if applicable Traverhurst Rows were built in 1916 by the Traver's Brothers and are an excellent example of working class tenement housing in Omaha. The design of densely built duplexes is unique and fits well with our redevelopment efforts. It is important for Omaha to keep its diverse stock of historic structures. Although these buildings are not impressive architecturally, they exemplify an important pattern of development related to Omaha's growth and commerce. Documentation to nominate the properties onto the National Registry of Historic Places is complete with the formal nomination process commencing. We secured our nomination for State Historic Preservation in September 2012. We will continue to work closely with the State Historical Society who has been very supportive of redevelopment plans. 3)Site Plan & Example Floor Plan Description Name & Completed by KkrOtt Site Layout Plan - Traverhurst Duplexes(Renamed Traver's Row) Ehrhart Griffin &Associates SOSti Example Floor Plan - Traver's Row pen Architect LLC Paul Nelson I I I I I I I 1 e ; I I I i i - i , 1 I , ,,. I .. , .. a I .`,..' A , -` R . ,P,",'''''.....-'•--:. ' HA- .- ' - -''''- { 4/ - ....LL ,- 1-triVIL 12 ''''',4.2 1-,'-4- '''' ,.. H 11 Ft_ .. 1 - '';' • • '' — "------- 1,, t t',— ;--" '-'L., ' L. 2 '' - '— - -- ----,.. '•; ,_ — — ' ' L-L — - . , ,— „„, , ,, ;°,;,11„%rNc_— ',.sf; , -; „.t, ; LOT 4 , , , .., 14 It.„...;„: . ; ... ,..„.... L.,; . ..„ ; , 1,0T 5 : 't t 1 .. ; •■•• _ , . , LOT LOT - , ; .,__ t ,, SCOVVI'AEU7 -1, — SEE DETAILED 10/1‘.81TNTEARLIoN cL1185 —PER CITY OF L _, IX-, BRICK PAVERS ; ppEcAST 5 II ,, -SEE DETAILICD 1 (TypicAL) CONCRETE WALL ' —-SEE DETAILIOD h (TYPICAL) , (1YPICAL) y GHANA GTO pLATE ,h • 1 1-52 • I .--__4_4_, , . ' ' " ''• ,4, LOT 6 1 ..,_ 1 I , ; 1 ; p,,,,,.„ ; L;-' ,Li' , -___Aft__—.._____ X i ' it7 - 'r. : , 1-i' ° 7.1 '1.1.,,..LH,._ ,' : ;'I', - ,1 : : 1 , I , 1"‘, , 1 27 '• 1 , 4 T . 1 • 1, h %',J, , 4 71`7-7H-10(Er-A '41" _ - -1 h).' [13_,',•, ' ','' -_ AB,SN 0°NEE 4' C AI; ,..2, , , . •; . . -A-A- ...:_1.,_..15 ii,._,J_.., _ ,-_, 415.65 4-L1,',..,; ,',-',-;,,,i,-;;;;-,t,t;--,'• .1 '\de; _1_2 -----#"------- -. ..„,.., ,-. I : I ' I. t-—-- ''. ;''i Z..,.4.; -_ <, • ... .1 -------7--- -1__ -- - .. 1 H,A1 H 4` \._,arSTEVCASTIOLN I',I.C H 1 l'0.78'R ' \ ,[,,,,R• •+...%_, ARCH CTURAL ee , SECTION ' -, ....,_„ CHASE DRAIN [il• '.'1 h" 1 ' -SEE , 7)17-3I '-'-,'; ,...,..•---'1 -- [ rr 7-CONCRETE ; S , 1 • 1I\ ' , 7 '------- --,-;?-ii ,----J; - I - ' P_Vg-1,,,t() , cr); ._ t i t • 4, - i [ 1 TRA.ENCLOSURE. II ' 1 [7,', LOT 9 - t ',.;„_ ; .;) LOT 11 II -SEE 11 ARCHITECTURAL • 5 ' I Orr 10 t ,. - 1,-.L. 1 .F Tu•K 1 hr7", 1-5 Z' I 5 h., rtyr- 8 , , _, , , , .,..„ 1—— ' TE ' ,, 1-11""71 ,qh• ' h' ", ,hI r IMPROVEIIENTS _ rmpRo04.1t71 1 _ IMPIAEN' I[ • . ' 4' [ (1[-1'01 - 1 I S CN 0+127 ' y1 •. 7 1V---1 r- __._rl'1,-- d-- ' '' • 1 4'--v--',71-1.-T.7t„,,,,. r ,,. 01.1AHA BID PLATEII _,)KG, rr it c- ril r'T NO. I, g Ms PRIVATE ImPROVEM el ENTS 7., PUBLIC IMPROVEMENTS PRIVATE IMPROVEMENTS LEGEN12 P.M Imeonon lOmme Omer or loos om sms..m. E.sRosc.,,,,,,,,,,,,,,,,,,,,.. —--— PROPERTY UNE 01•11.MPS KIM DIST. 8',Ngt, 1 4 `YRI S \ 01.131 NM Mt T CM MEM OE COMM MIMES MIUM.MS m 18' m m 16' + I • , I -PROPOSED 71 P.G.G.PAVEMENT 110/111.01 WE.MS 11' E., -PROPOSED 5'PVC NOTE: MOOKOC11110 MUTT EMMONS MOM ME TAM MITSMET1011 9. 9' Rau,CENTERLINE/BASE,INF 111.0110 TO US EMS1 MUTT MIMICS YAM COMM.IMEM .1114.011r4111M11 OARMI.AS POSMILORI MS ACCMISCE 04 It, m•.---CENTERL E CONCRETE ththEEES-E.SEEEEE.1 -P R 0 P 0 It 0 61 11 I CK P A V E R S . IN RETAINING WALL NO LENGTH RA0o.rS UNE/CHORD DIRECTION IALBSTAJ.SMOIMATION TO PK/1119..TM JOMIC=MOM ROAD,BASELINE .....K____, 44_22i TYPE.9,L"DCURB m RIGOR OF WAY CI 49 604 S86'26'04 7417 1 ' 0 1 ."hI -l'Pr gSTYDS?2N'TTRAD'IZATRI","_°,CUTTER e.L,'.'7. ) 01.11A)1-1100-3M-SOM(STOCCIMS)WO TO MAMA j---m-F-____, .. REVISION DATE DRAWN BY ------, _sLOAE ____— SLOPE CI 40 641 26 000 N46'331 55 267/5 -ASPHALTIC CONCRETE PAVEmENT BE CC 241830 NI'3Y 55 26, ,., . .• -PROPOSED CONDITIONED SOIL k.ropmeBe —1-1--—---- —NEW 51 PVC LAYOUT PLAN SIDEWALK —EXVING SURFACING )EHRHART :z;z2" CITY OF OMAHA SHEET OPW52433—PD,W. 4_ ,--- la TYPICAL SECTION GRIFFIN & •FANO CURVE.. DRAWN BY.ECU I FILE NAME.Cy 1_LAYOUT_I 2 1 056.dw g WilIV .sc...t.E ASSOCIATES 'g'111‘, 6MoC PUBUC WORKS DEPARTMENT -'--7 C.\c,,„,s p,y,Ls\,2[056',E4g,noo,,,,\Tvoc\E\DI I_LAyOuT4121056 ORg i i i 1 i i i i I I I 1 I I i i I � JI pen _ - — -�_� ...r��— '�g, .!r3a flax - I I331 flIDGEW00D AVENUE o, ALLEY OMAHA,NEBRASKA V68124 ENUE ", a a " anN caktc.w _ 1402)515-0529 " ., _ �+uiwlwr 'r / ......_Ft------ '-� 4,. - 0Ool@p penardNect corn rn FnrMNGISM cmi \ I I DUPLEX 1-UNIT A&8 �\ DUPLEX 2-UNIT A1&B su wmri UNIT ' .,,,I DUPLEX 4-UNIT A&B 1 DUPLEX 3-UNIT A&B 1 \, DUPLEX UNI50,1126,T &B \ 0 I I D 1 �� I .70 IIIII��\. _.a_ �, __. 40111, _ 'P 1 tiN — D traver's row w, O; u $ sff ws fa Au s,rtes 'I z 26th&JOAFS STREETS .. M, COMAHA IFBRASKA 68102 VE ru .LL saaw ummhauf , rn — — I ,,i .!,,Pa GUTTER I no ax�oni REPLACE ALL.. f00RS fa .Es s he -- .—o_ a CM! (4110 — (i. \ _ —1 OWNER TRAVER'S ROW U C � „�r, - a � e t / —�g _ I OMAHA.NEBRASKA 68116 f° F`^ I 1 - i BUILDING 11 -UNIT A B,C&D w N p I ,gg � i >e,�.� I 3 Z - - D LEX aIIDO- +TtA 4 COMMERCIAL TENANT f , (` fl4�'LEff$ UMTASu� X A� z�sn.wmse�. ---1 ,� I\ 655St(fmipYry,Wt; DUPLEX REHABILITATIONS u$ 11L41 m I :{" 1 I BULDINGS: 8-9-1 O :, 1 _ - _ a — .. Mc.. \\ ..., '% 9" ram. .u,(u4cani 26TH STREET a f 3 DATE: 18FEBRUARr2013 P, y� a .� 'z, a — — — — — — — — — — — — — — I ARCHITECTURAL SITE PLAN NOT TO SCALE _.. FOR REFERENCE ONLY. THE PROJECT INCLUDES WORK FOR THE REHABILITATION OF DUPLEXES 8,9&10 ONLY.SITEW ORK IS UNDER A SEPARATE SCOPE OF WORK.REHABILITATION OF DUPLEXES ` , 1-7 ANO BUILDING 11 WILL BE SUBMITTED AS FUTURE V PHASES a i a a a a a a a a a . a a -,,,„, a a . , r______ CEILING SYMBOL LEGEND ELECTRICAL SYMBOL LEGEND 1 MARK DESCRIPTION 1 MARK DESCRIPTION Pe ii i S Light switch-single pole Duplex wall receptacle.14 off finish floor UPS. hi;ii.C.hil i i'-'.."..:.' .. i r- 1 1331 RIDGEWOOD AVENUE S3 Light switch-3 way(or as indicated) I tb 1 Fourplex wall receptical ChAAHA,NEBRASKA 68124 I-- - i (402)515-0529 Surface mounted ceiling light fixture lit.„...i Duplex-ground fault circuit interrupter w.1 hrieght oh finish floor identified pail@penarchitect corn www.penarditectcom I-0 Surface mounted wan light fixture dir Switched outlet-See lighting plan for switch location ED Transformer for low voltage lighting 6- High voltage receptacle-see appliance schedule to coondinate power requirements O Recessed light fixture-round (J) Receptacle or power for appliance.See appliance schedule for requirements P 0 Recessed light fixture-square El Duplex floor receptacle.CARLON E97BR SINGLE DOOR BRASS ® Smoke detector(marked CO for carbon monoxide sensing) A CATS rougthin.Wiring and device Is N.I.C.Install 1 ii conduit with pull-wire from device to nearest network hub traver's row 26th&JONES STREETS O Programmable thermostat El Cable rough-in at Television.Prowire cable to secy.box located in basement. locate at standard height unless othenvlse indicated off finish floor. OMAHA NEBRASKA 68102 El Security system key Pad-by others Cable distribution box N.I.C.Location At Doe may vary based on primary service 11 -- - L Lighting Control Station hy Lowc.,Vsinmew9tohngectoon,r.Pvrovide rough-in and pathway_ Wireless router.Provide power OWNER:TRAVER'S ROW LIC 2612 N 152nd STREET OMAHA,NEBRASKA 68116 i_ E Occupancy sensing light switch re b. 11-Power rough-in.Coordinate with equipment supplier and provide box or flexible metal conduit as required E Motorized window shade-by others.Provide 115v power. 0 Controlled switch provided by Low Voltage Contractor.Provide d rough-in and pathway.Coorinate with C ontractor .___— 13 L Fire alarm&firmed connected to common fire alarm system .-i=i-i---,, LED Under-counter cabinet lighting ,____________.,_______________. DUFLEX REHABILITATIONS 171 :Culll.1 fir.ierin landi.r seicafitY/pandel.Wire to each smolis dote...and security ., BUILDINGS: 8-9-10 NOTES, ..- ' , All devices end cover plates shall be standard Lewiton in tight almond color,thermoplastic/nylon ! NORTH matenal Specific circuitry design shall be done by the Electrical Contractor according to municipal code DATE, 18 FEBRUARY 2013 Alt circuits shall be neatly labeled according to loads Inside the panel cover Coordinate city Owner supplied low voltage contractor who allied installing data,phone&cable wiring AO I 4 / € I SEE UNIT B FOR Pen TYPICAL NOTES AND ELECTRICAL INFEN DOOR '; {.,,#'+ F..."`-" OPENING WITH 1331 RIDGEWOOD AVENUE BRICK A 66124 W8 T W (OM J515--0529 .. ._,,._ GENERAL NOTES BASRVENT YW8 ._ __- — - ,.. _ -.- --. ...... -.,- 4E917 WEBB pmarohlecccom CONDITIONS VARY PER DUPLEX.R LOCATIONS ." •...-- - ..._ _ ..- Y-___ - .411141) WU@ce^a1driM.com E EOANELS .ELECTRICAL, UNIT TO LOLL,PENG ARDNAR8TD FLVT FROM UNITOF UNIT.ITEIY6 i ARE E OF WO FOR TIE QUANTITIES DEFINING NEW ELECTRICAL SCOPE 6 WORK AND WANTITES MY. PANEL I REMOVE ALL ABANDONED OR DISCONNECTED I - *RAC NEOIANKAL&ELECTRICAL EIXIPIBENT.CORDUT • Y WRING,DEVICES AND DUCTWORK.EXISTING `Y CHM DUCTWORK AND ELECTRICAL MAY REMAIN N A RACE F OPERATIONAL AND DETERMINED TO W8'1- W8I MEET CURRENT CODE. CLEAN LOOSE DEBRIS AND DUST FROM OVERHEAD r WOOD FRAMNG AND HORIZONTAL DEFACES F I F I WITH CONPBESSED AR OR HARD REUSE. CLEAN LOOSE DEBRIS AOL DUST FROM BRKK 10A UNFINISHED BASEMENT N -. t OB UNFINISHED BASEMENT WALLS AND CONCRETE FLOOR WITH LOW ---- iWHI �a" R'H-I traver's row PRESSURE POWER WASH. AJ R 26th&JONES STREETS REPAR OR REPLACE ALL LOOSE,DAMAGED OR - OMAHA REBRASKA 68102 MISSING STAR TREADS TO MATCH EXISTING. __ _.____.______. _._. _._._.__ ._._._____. —,_._.__ 10 M ti OWNER TRAVER'S ROW LLC 2612 N 1 STREET OMAHA.NEBBEBRASKA 68116 HANDRAIL W81 j.-- ',W8 UP ,,,UP DUPLEX REHABILITATIONS GAS SERVICE AND METER BUILDINGS: 8-9-10 I. - F • WATER SERVICE NOTE &NETER I FOOTINGS ARE BE L CA DBASEDOTHE ALIGNMENT OF NEW DATE 18 FEBRUARY 2013 COlMNS THAT CENTER —� -, a -C.M.U.PER-TYP. ON THE EXISTING PORCH I ROOF STRUCTURE. 7}- I I— 1 rfI T r 1 I(� m BRICK VENEER I �II.L_.__.---__--- " BEPNEENSIAES-__.—._�II is I a L _J J N 4 <L_ BRICK VENEER -6' VENEER ! 1, Ei g'wCt'w FOOTING- IN B'D.PSEE CONCRETE q I DETAL ON TD SEE DETAL ON T0.13 ' 1 CAST-IN-PLACE CONCRETE STAIRS Al FLOOR PLAN-BASEMENT/PORCH FOUNDATION - __ _ SCALE:1/4"=1'0" 1 HOW-BlAB Be-1 lrun.oax*Ic 1 IT SEE UNIT B FOR pen TYPICAL NOTES PELL OPENING 4-DIA.CORREGATED FENCE BETWEEN AND ELECTRICAL SEE DETAIL ROUND D.S.TO RAIN BLADNGS-TYP. COLLECTION BARREL W3 W4 W4 W3 x, # r - ' TIT Mil IT 1331 RIDGEWOOD AVENUE GENERAL NOTES-MAN LEVEL OMAHA,NEBRA6KA 68124 o ' (402)515-0529 DUP CONDITIONS VARY PER LE%.LOCATIONS — _ OF EOUPNENT.ELECTRICAL.PLUMBING ROUGH-NS OW-I S-I LW. S- •W-I pa A Ilw+aR NUM.corn WILL VARY FROM UNLIT TO LRIT.ITEMS I_ www.pmarcFilM-corn ARE INDICATED FOR TIE PURPOSES OF DEFNNG O NT Rw 7 O n c .. N SCOPE OF WORK AND OUANTTES ONLY. DINING ROOM DINING ROOM l `—E-I I E KITCHEN KITCHEN i REMOVE ALL ABANDONED OR DISCONNECTED 'bN MECHANICAL&ELECTRICAL EOUMENF,CONDUIT rn I, - •m WIRING,DEVICES AND DUCTWORK EXISTING t DUCTWORK AND ELECTRICAL MAY REMAN N -:.I,' n I 'p pP PLACE F OPERATIONAL AND DETERMINED TO i ' -- -- MEEf CIARENT CODE ROLLING AT INTERIOR WALLS AND CELINGS THAT -- —CABINET J ORK RECENE NEW MEP SYSTEMS,REPLACE DUCTWORK r ' CHASE --- T PLASTER WALL FINISH WITH NEW I/2"GYPSUM /CHASE T----\) // ROLLING WALL BOARD WITH SMOOTH FINISH.PLASTER WALLS T mI CABINET MAT ARE UNAFFECTED BY NEW WOK AND IN - / ) RFI N� �A ACI :► A GOOD CONDRK)N MAY REMAN N RACE. ' M I l N _J l U ��I traver's row t 4 %1 DN N z .,I. .71 i GREEN EXTERIOR PLASTER WALL FNBH N GOOD GREEN � ;f ,. - 0._--- }}. _ _ \ "t CONIDfiION(WITHOUT CRACKS AND SECURED TO SPACE _ T/ 7 -". .-`� " SPACE 2616&JCMES STREETS MASONRY SUBSTRATE)MAY REMAN.PATCH r ---� OMAHA NEBRASKA 68102 AREAS THAT ARE LOOSE OR MISSNG WITH NEW 1 1 PORTLAND CENENT PLASTER WALL FINISH - HANDRAIL WOOD TRIM REMOVED AS RELATING TO NEW y.,,F+ {..•.i. WORK SHALL BE REPLACED TO MATCH EXISTING. 3 m' SEE PETALS ON TYPICAL DRAWINGS.CONDITIONS VARY FROM LINT TO UNIT. ID LIVING ROOM OWNER TRESTRETW LLC LIVING ROOM WHERE DETER/MRATED,REPLACE EEXISTING1 ' It@ 2612 N 152M STREET 3 SUB-FLOOR WITH NEW 3/4"PLYWOOD.APPLY _ — OMAHA,NEBRASKA 68116 BEAD OF CONSTRUCTION ADHESNE AND SCREW 1 TO EXISTNG FLOOR FRAMING AT 12"O.C. i. ®p p: 9 y .--- UP UP SEE WINDOW SURVEY FOR SPECIFIC WINDOW REPLACEMENTS.LAYOUT REPRESENTS DUPLEX _ IS CONDITIONS VARY FROM BUILDING TO OUJ DINE RY E Y --__— D1 D1 _.._.. I1- W2 --' V_s/ --_ �•I ---t--c W2-N. b DUPLEX REHABILITATIONS 6"ST EP LP `�' BUILDINGS: 8-9-10 LATTICE I—MAILO SCREEN WALL l0A 10B BOX d TAPERED WOOD COLUMNS _ NORTH WOOD RAIJNG PORCH 1 I NEWEL POST WI SIMPSON DTT2 STEEL PIPE 3"CORRUGATED POUND DS. O nAaEn - i DECK FASPOSTRAIL DATE-I8 FEBRUARY 2013 gglN BARREL T \. �PORCH ROOF OVERINNG K U.-LIGHT K( K (SPOT) ©--- — J"STEPS LP— NW NEW����O0o PORCH VP I FLOORIRKKING& aavu.8 STRUCTUIE CONCRETE STEPS CONIC.WALK L • t ]"STEPS UP— CONCRETE LAMP POST WALL STEPS -SEE CIVIL A2 FLOOR PLAN—MAIN LEVEL SCALE:1/4"6 1'-0" 1 I 1 t I I I pen SEE UNIT B FOR i,Li ,. TYPICAL NOTES NEW WALL AND ELECTRICAL FOR PLUMBING FUR WALL N 1331 RIWEWOOD AVENUE FOR FEW TLB 0 OMAHA,NEBRAS(A 68124 ,a' (402)515-0529 GENERAL NOTES-IAPERIEVEL W3 W5 ._W5 W3_ paSgpenarchted corn CONDITIONS VARY PER OLRLEX.LOCATIONS I� ..__ :. ll ®._ ,.. wvrw.perwditect.com AL. AR EQUIPMENT,OR TFE UR OSES OF DEFINING ROUGH-INS A I IM V HILL VARY FROM UNIT TO UNIT ITEMS D2715 EN ®11 , LOS D2 ARE N)KATED FOR TFE PURPOSES OF OEFIMNG SCOPE OF WORK AND OUANTITES ONLY. I c• BEDROOM 1 CLmS BEDROOM 1 REMOVE ALL ABANDONED OR DISCONNECTED S"9 i _ MECIANICAL 6 ELECTRICAL EOLPMENT,CONDUT `"J. 1Q D2 .�c 1, OF m WIRING.DEVICES AND DUCTWORK.EXISTING I ' DUCTWORK AND ELECTRICAL MAY REMAINN 3 -L' D2 ?BAT C :�•'TH Fl ' RACE R OPERATIONAL AND DETERMINED TO !1"�I 'CLOS ,, O CLOS +� MEET CURRENT CODE. r D2 �� ,� W AT INTERIOR WALLS AND CEILINGS THAT , D2 y I WC 1 \ C D2 I 02 RECEIVE NEW MEP SYSTEMS,REPLACE j PLASTER WALL FINISH WITH NEW 1/T GYPSUM • 1 � ' WALL BOARD WITH SMOOTH FINISH.RASTER WALLS _ INEN LINE NEW WALL FOR THAT ARE UNAFFECTED BY NEW WORK AND IN '' I = a traver's row D2 � D2 �" ��.. cC 5E GOOD CONDRKXV MAY REMAN N RACE. - Y � t �a. EXTERIOR PLASTER WALL FINISH N GOOD 'E/ r • 26th 1-JONES STREETS CONDITION(WITHOUT TRACES AND SECURED TO 1 I t C q y1 OAMHq NEBRASKA 68102 MASONRY SUBSTRATE/MAY REMAIN PATCH {#S HALL ONE- W ON HALL - AREASTHATARELOOSEORMISSNGWRHNEW ►� / �® I CLOS PORT AND CEMENT PLASTER WALL FNISH : / I� - WOOD TRIM REMOVED AS RELATING TO NEW 1 �•I• Y � a.. �.. ® 1r�t�� ® 11 �B' T^ WORK SHALL BE REPLACED TO MATCH EXISTING. , E '.. SEE DETAILS ON TYPICAL ORAWNGS.CONDITIONS D2: (• AL i ID2 VARY FROM UNIT TO UNIT U- D2'., D2, ;.I D2 'ID2 2612N TRAVf7TREEI LLC 1 1 \ 2612 N 152+W STREET PROVIDE NEW R-30 BAIT INSULATION ABOVE t'-"Y <q/ sK,.....: ,3 < 1., OMAHA,NEBRASKA 68116 BARNG(BELOW ATM SPACE)WRHUM W ( ! I r }---- 1, BARKER DIRECTLY BEHIND NEW GYPSUM WALL t BOARD.LAY BOW NEW DUCTWORK SLING m J 1 CLOS CLOS RAFTERS AND ABOVE NEW IXKTWORK FOR 3 I9 1� CF UNIFORM ATEDLAYER-SEE RC N11022 t f. t rca»%. F *,O ®1-�� WHERE 00101 RATED,REPLACE EXISTING 1 1- 1:4 /1 ❑v' SUB-FLOOR WITI NEW 3/41 PLYWOOD.APPLY I �• is BEAD CE CONSTRUCTION ADHESIVE AND SCREW BEDROOM 2 1/'. t,.. BEDROOM 2 TO EXISTING FLOOR FRAMING AT I TO C. ! /, BEDROOM3 • -" Z `� • C.A.=OOT1E5 ROD.t t/a'CHflOME KV ROD I: D2, D2" DUPLEX REHABILRATONS .I BEDROOM 3 ALL CLOSET SHELVING SHALL BE 3/4"THICK li -9-10 WHITE MELAMNE WRH MATCHING EDGEBAND. 1 ® ® BUIDWJCS. 8 SET ON I/T THICK PANT GRADE WALL CLEATS s ANCHORED ON EACH SIDE TO FRAMING. __ _ ).. r- ...... -.�_ I., _.__._ �- __. .-. �_.,-_ ... _. _.. :NORM W3 W3 W3 W3 1 `i• DATE: 18 FEBRUARY 2013 PORCH ROOF \e\ 1 NEW ASPHALT \ 3-D.S.NFT SHINGLE ROOFWG ���3-X4'GALVANIZED ' GUTTER FLOOR PLAN-UPPER LEVEL _ A3 SCALE'1/41=1'-02 P 0222.,2012 PEN nwArratY is ' 5) Sources & Uses Sources TIF Funding $ 308,510 Historical Tax Credit $ 276,100 Loan (rate of 5%) $ 1,240,890 $ 1,825,500 USES Site Work & Additional Expenses $ 619,000 Construction & Redevelopment Costs $ 1,206,500 Total Uses $ 1,825,500 Note: Currently exploring additional sources of State Historical Tax Credits if passed by the Nebraska Legislature and if our project fits their criteria. Regardless, TIF is critical and project cannot be completed without TIF (see ROI analysis). bdi�k of 101 NORTH SECOND STREET POST OFFICE BOX 379 ELGIN, NEBRASKA 68636-0379 PHONE:(402)843-2228 FAX:(402)843-2260 July 30, 2012 City of Omaha Planning&TIF Department RE: Preliminary commitment for financing Traver's Row Redevelopment Project This is to confirm our commitment for financing for the Traver's Row Redevelopment Project contingent upon TIF approval from the City of Omaha. The project costs are estimated at $1.6 million and Historical Tax Credits and Tax Increment Financing are both being secured. If you have any questions please give me a call. We look forward to participating in this redevelopment project. Si rely, SWIM ary` - rt CEP FDIC tl� r+v 6) Construction Budget Site Work&Additional Expenses Costs Street Work, Sidewalks, Landscaping & Fencing $ 175,000 Legal Work $ 5,000 Architecture $ 35,000 Engineer&Survey $ 34,000 Comm BId Purchase (Lot 11+ Parking Lot) $ 185,000 Garbage Enclosure &Site Signage $ 28,000 Parking Lot Improvement& Fence $ 57,000 General Contracting Fee $ 100,000 Total $ 619,000 Construction & Redevelopment Costs Costs Tear out $ 13,000 Roof $ 80,000 Plumbing $ 265,000 Electrical $ 140,000 Framing interior walls, insulation $ 40,000 Tuckpointing $ 22,500 HVAC/Central Air $ 128,000 Dry Wall & Painting $ 75,000 Fixtures $ 43,000 Appliances $ 54,000 Windows $ 62,000 Carpet/Tile/Sand Wood Floors $ 42,000 Lights/Steps/Patio area $ 52,500 Front Porches $ 100,000 Finish Work $ 44,500 Special Consideration-see notes $ 45,000 Sub Total $ 1,206,500 Grand Total $ 1,825,500 Construction Timeline Sequencing Description Comments ..a Phase 2 Framing Spring/Summer 2013 Electrical Plumbing HVAC Determine placement of vents • ■ Phase 4 Trim Fall 2013 Dry wall Finishes (tile,wood floor); Fixtures(lights,faucets); Equipment FFE (Appliances) ��s>.. .:: ....... .... :.. . ...gym.Q:: _..: r_ _�........... ...,_. ....: w� � af� .. ...... .. r � Eu .. ff. ... Misc Utilities Coordination of site work-gas,water, plumbing hookups NOTES: 1. Overall phased approach to completing the remodeling of the 20 duplex units. First set of permits pulled on buildings 7,8&9 and then subsequent permits pulled in phased approach typically 2-3 buildings at a time. 2.Occupancy to occur when initial duplexes(buildings 7,8&9)and site work completed. 3. Construction is expected to be completed within 18 months(2014). I i 1 i I I 1 £ 1 1 j i I 1 j t I 7) Proforma Monthly Proforma - Expenses& Revenue Mnthly Operational Expenses #of Months 1 2 Loan Payments(loan of$1.25M) 12 $ - $ - Management Fee 12 $ 1,035 $ 1,035 Yrly Operational Expenses: Repairs 12 $ 1,449 $ 1,449 Yearly Loan Payments $ 105,108 Taxes 12 $ 3,250 $ 3,250 Management Fee 5% $ 12,420 Insurance 12 $ 2,070 $ 2,070 Repairs 7% $ 17,388 Misc 12 $ 1,035 $ 1,035 Taxes $ 39,000 Total Expenses(Const+Op) $ 8,839 $ 8,839 Insurance 10% $ 24,840 Misc 5% $ 12,420 Monthly Revenue Projections Unit 1 Total $ 211,176 Unit 2 Unit 3 Unit 4 Revenue Projections Units Monthly$ #of Mnths Yrly Revenue Occupancy Net Yearly Revenue Unit 5 $ 1,025 20 $ 20,500 12 $ 246,000 90% $ 221,400 Unit 6 $ 500 4 $ 2,000 12 $ 24,000 75% $ 18,000 Unit 7 $ 750 1 $ 750 12 $ 9,000 100% $ 9,000 Unit 8 $ 279,000 $ 248,400 Unit 9 Unit 10 Unit 11 Misc.Items Unit 12 Vacancy Amt $ 30,600 Unit 13 Unit 14 Unit 15 Unit 16 Unit 17 Unit 18 Financial Summary Yearly Unit 19 Total Yearly Revenue $ 248,400 Unit 20 Total Yearly Expenses $ 211,176 Single Unit 1 Net I $ 37,224 Single Unit 2 Single Unit 3 Single Unit 4 Commercial Bay Total Revenue $ - $ - Net(Rev-Exp) $ (8,839) $ (8,839) Month# 1 2 i I i 1 1 I l i 1 1 I 1 t I Year 1 3 4 5 6 7 8 9 10 11 13 14 15 16 17 18 19 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 8,759 $ 8,759 $ 8,759 $ 8,759 $ 8,759 $ 8,759 $ 8,759 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 1,449 $ 1,449 $ 1,449 $ 1,449 $ 1,449 $ 1,449 $ 1,449 $ 1,449 $ 1,449 $ 1,449 $ 1,449 $ 1,449 $ 1,449 $ 1,449 $ 1,449 $ 1,449 $ 1,449 $ 3,250 $ 3,250 $ 3,250 $ 3,250 $ 3,250 $ 3,250 $ 3,250 $ 3,250 $ 3,250 $ 3,250 $ 3,250 $ 3,250 $ 3,250 $ 3,250 $ 3,250 $ 3,250 $ 3,250 $ 2,070 $ 2,070 $ 2,070 $ 2,070 $ 2,070 $ 2,070 $ 2,070 $ 2,070 $ 2,070 $ 2,070 $ 2,070 $ 2,070 $ 2,070 $ 2,070 $ 2,070 $ 2,070 $ 2,070 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 8,839 $ 8,839 $ 8,839 $ 8,839 $ 8,839 $ 8,839 $ 8,839 $ 8,839 $ 8,839 $ 8,839 $ 17,598 $ 17,598 $ 17,598 $ 17,598 $ 17,598 $ 17,598 $ 17,598 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $$' ,',02 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,02$ $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ ;1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 '$„,1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 _$ ,1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 5 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $`„ �025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $-, ., 25; $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 .,$ =;1,Q2$ $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 =1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 ;1,025 r $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 `x 1,025' $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 1;025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 � ,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 t 02 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 P�,' $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 ` 02 - $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 'IL' O6 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 i rr: $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 ^' ei $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 750 $ 750 $ 750 $ 750 $ 750 $ 750 $ 750 $ 750 $ 750 $ 750 $ 750 $ 750 $ 750 $ 3,550 $ 5,600 $ 7,650 $9,700 $ 12,500 $ 14,550 $ 16,600 $ 18,650 $ 20,700 I , $ 20,700 $ 20,700 $ 20,700 $ 20,700 $ 20,700 $ 20,700 $ 20,700 $ (5,289) $ (3,239) $ (1,189) $ 861 $ 3,661 $ 5,711 $ 7,761 $ 9,811 $ 11,861 $ 3,102 $ 3,102 $ 3,102 $ 3,102 $ 3,102 $ 3,102 $ 3,102 3 4 5 6 7 8 9 10 11 }' 13 14 15 16 17 18 19 Year 2 Year 3 20 21 22 23;� 25 26 27 28 29 30 31 32 33 34 35 ,86 $ 8,759 $ 8,759 $ 8,759 $ 8,759 $ 8,759 $ 8,759 $ 8,759 $ 8,759 $ 8,759 $ 8,759 $ 8,759 $ 8,759 $ 8,759 $ 8,759 $ 8,759 $ 8,759 $ 8,759 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 1,449 $ 1,449 $ 1,449 $ 1,449 $ 1,449 $ 1,449 $ 1,449 $ 1,449 $ 1,449 $ 1,449 $ 1,449 $ 1,449 $ 1,449 $ 1,449 $ 1,449 $ 1,449 $ 1,449 $ 3,250 $ 3,250 $ 3,250 $ 3,250 $ 3,250 $ 3,250 $ 3,250 $ 3,250 $ 3,250 $ 3,250 $ 3,250 $ 3,250 $ 3,250 $ 3,250 $ 3,250 $ 3,250 $ 3,250 $ 2,070 $ 2,070 $ 2,070 $ 2,070 $ 2,070 $ 2,070 $ 2,070 $ 2,070 $ 2,070 $ 2,070 $ 2,070 $ 2,070 $ 2,070 $ 2,070 $ 2,070 $ 2,070 $ 2,070 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 1035 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 1,035 $ 17,598 $ 17,598 $ 17,598 $ 17,598 $ 17,598 $ 17,598 $ 17,598 $ 17,,598 $ 17,598 $ 17,598 $ 17,598 $ 17,598 $ 17,598 $ 17,598 $ 17,598 $ 17,598 $ 17,598 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ '1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1.yZ5 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ °1.,02$,, $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,O $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025' $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1�025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,02$ $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ °1,025' $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025' $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,02$ $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $4 1,05 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ :1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 � � 025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 is 1,i325 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 ± ,�f125 $ 1,025 $ 1,025 $ 1,025 $ 1,025 ,$ ,1 ' $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 f" $!25 $ 1,025 $ 1,025 $ 1,025 $ 1,025 `$ ' $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,0254 a5 $ 1,025 $ 1,025 $ 1,025 $ 1,025 '$:fi '' $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 o ° $ 1,025 $ 1,025 $ 1,025 $ 1,025 $' .1 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 , a_.� $ 1,025 $ 1,025 $ 1,025 $ 1,025 $'--1,02$ ` $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 a $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025;. $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 d $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ ,1,025,: $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 : $ 1,025 $ 1,025 $ 1,025 $ 1,025 $-i, 2r5° $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 : t $ � 5� $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1;Q2$-� $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 15 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $- 1;0i5:. $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,025 $ 1,0251 6 `. ,R $ 500 $ 500 $ 500 $ 500 ''$.`- 5 °: $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 SqQ i $ 500 $ 500 $ 500 $ 500 $`,''',$ , $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 f $ 500 $ 500 $ 500 $ 500 `.$ $ $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 a $ 750 $ 750 $ 750 $ 750 $ 750 $ 750 $ 750 $ 750 $ 750 $ 750 $ 750 $ 750 $ 750 $ 750 $ 750 $ 750 $ 750 $ 20,700 $ 20,700 $ 20,700 $ 20,700 $ 20,700 $ 20,700 $ 20,700 $ 20,700 $ 20,700 $ 20,700 $ 20,700 $ 20,700 $ 20,700 $ 20,700 $ 20,700 $ 20,700 $ 20,700 1. $ 3,102 $ 3,102 $ 3,102 $ 3,102 q` $ 3,102 $ 3,102 $ 3,102 $ 3,102 $ 3,102 $ 3,102 $ 3,102 $ 3,102 $ 3,102 $ 3,102 $ 3,102 = s ,wr , 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 -= 6 8) ROI Analysis Without the successful incorporation of Tax Increment Financing (TIF) it would not be economically feasible to proceed with this project. With Without TIF TIF Gross Annual Income $ 279,000 $ 279,000 Less: Vacancy $ (30,600) $ (30,600) Less: Expenses (including RE taxes) $ (106,068) $ (106,068) Less: Primary Debt Service $ (105,108) $ (105,108) Less: Secondary Debt Service $ (42,912) Annual Cash Flow $ 37,224 $ (5,688) Return on Investment 3.00% Negative Conclusion: Without TIF there would be insufficient cash flow and partner return would not be feasible. Therefore the partners have determined that they will not complete the project without TIF. MOA 9)Evaluation Criteria A. Mandatory Criteria 1. This property is located within Community Redevelopment Area 004000 2. No lost revenues for city 3. Not economically feasible without TIF 4. The project meets the City Master Plan in numerous ways. .04 • It is appropriate to the future land use area identified as Mixed Use. • The buildings are historic and will preserved as a result of the TIF funding and historic tax credits • The project clearly meets the specific goals set in the Concept Element by addressing "Housing Conservation and Rehabilitation"by creating healthy quality living in an older downtown neighborhood of Omaha. Once occupied,the twenty-four dwelling units will add to the population densification of the City urban core. B. Discretionary Criteria This project exceeds the minimum criteria of at least 3 of the 9 discretionary criteria. The 4 areas we meet or exceed and their corresponding criteria number are described below: #3. The project involves the rehabilitation of designated city landmark; a building listed on or eligible for listing on, the National Register of Historic Places; or a building located within a local landmark district. Project involves National Registry of Historic Places and we have coordinated our restoration efforts through the Nebraska Historical Society which has approved our nomination(see attachment#1). The buildings were built by the Traver's Brothers in 1916 and included on the site is a horse post, which we intend to retain. #4. The project will eliminate an actual or potential hazard to the public. Hazards may include condemned, vacant or unsafe buildings, sites or structures. Project will eliminate condemned and vacant properties. #8. The redevelopment site has displayed a recent pattern of declining real property assessments, as measured by the Douglas County Assessor's Office. Redevelopment site has displayed a recent pattern of declining real property assessments as measured by OMIP the Douglas County Assessor's Office. Most recently the 2011 valuation of 657 S 26 Av was $63,500 and the 2012 valuation is $24,100 which is a material decline in valuation and similar to the other duplexes. #9. The project incorporates green building techniques or materials and/or the use of"green"technology within the redevelopment project site. This project uses one of the most effective Green building techniques there is, conservation. The greenest buildings are ones that are already built. By saving these buildings,we will be reducing the environmental impact on our community in ways much more significant than a new building could. Specifically the embodied energy used to create these buildings (or new ones on the site)has value. If the buildings are torn down and landfilled all of that potential energy will be wasted. The energy consumed to build all ten apartment buildings including brick, glass,transportation of materials and heat are equal to 15.6 million BTUs(or 124,340 gallons of gasoline). EMPLOYMENT INFORMATION Permanent Jobs(FTE)to be Created: .5 (property manager or onsite facilities person 'A time) 1.0 Permanent Jobs(FTE)to be Retained: 0 Permanent Jobs(FTE)to be Relocated: 0 TOTAL .5 Project will involve a new commercial business and new employment is anticipated but unknown at this time. Anticipated Annual Payroll&Estimated number of construction jobs to be created during construction phase: Over$400,000 in temporary construction workers wages. RESIDENTIAL UNIT INFORMATION : Multi-Family Rentals 1 bedroom =4 units (above commercial property) 2 bedroom =4 units(2 duplexes are 2 Bdrm) Atawei 3 bedroom = 16 units(8 duplexes are 3 Bdrm) Owner-occupied = 0 (No owner occupied) Total Residential Units = 24 10) Cost-Benefit Analysis Considerations: 1. Tax Shifts resulting from the approval of the use of funds. No tax shifts are resulting from this project. TIF is a critical component to this redevelopment project and we will comply with all TIF requirements. Specifically,the property tax increases generated from the redeveloped site are applied to the TIF loans, obtained by the owner, until they are repaid, or for 15 years, after which the increases revert to local government taxing jurisdictions. 2. Public infrastructure and community public service needs impacts and local tax impacts arising from project receiving incentives. The neglected and vacant buildings have fostered vagrancy within the neighborhood for many years. This rehabilitation is possible because of the project receiving incentives. The public service improvements include improving the general area from a safety,visual appearance and economic improvement to the mid-town area. This large redevelopment effort East of the Interstate is ideally the start of additional larger redevelopment efforts. Improving overall property values of existing and future redevelopment efforts is an expected long term, positive local tax impact. Additional families/residents into this area means additional tax base, services needed and a more vibrant urban living environment. We are targeting your professionals likely to get entry level/office «� jobs which typically pay between $30,000 and $75,000 per year. This is incremental income brought into this neighborhood and additional goods and services will be required(food, dry cleaning, coffee shops, churches, etc.). 3. Impacts on employers and employees of firms located or expanding within the boundaries of the area of the redevelopment project. Currently the commercial bay is being marketed to potential new tenants. Initial interest has been from other convenient stores,however ownership does not intend to allow package liquor sales so other types Oft of businesses such as café,deli, insurance agent or other types of service business such as sign companies are being considered. Additional services to the residential tenants, neighborhood members and 14,000 cars a day drive by on St. Mary's Street make this a viable commercial business location. '� 4. Impacts on employers and employees within the city of village and the immediate area that are located outside the boundaries of the area of the redevelopment project. More housing for potential employees in this area will give local employers more appeal if 2 and 3 �" bedroom duplexes are available. Those employees of local businesses in the area will have a general feeling of safety will improve based on the conversations with numerous neighboring businesses and local neighborhood association comments. The majority of comments relate to improving the area, providing potential residency to their workers and improving the neighborhood through this redevelopment project. 5. Any other impacts determined by the authority to be relevant to the consideration of costs and benefits arising from the redevelopment project. Currently the existing street is narrow, difficult for snow plows to navigate and also the street is coble which has additional maintenance requirements. Significant resources and investments in expanding the street, sidewalks, and infrastructure are a part of this TIF project. The public benefit is significant even though improved property values, urban design and improving density living. We anticipate additional redevelopment efforts which will continue to enhance an area that is considered a high priority area by the Omaha Chamber of Commerce. Park East Neighborhood Association, of which current owners are active ." members, has been supportive of our redevelopment efforts and planning on continuing to be a member of this excellent local organization. 11) Organization Documents �. Certificate of Organizations attached for: • Ulferts Row House Property Management, LLC • ENLR,LLC CERTIFICATE OF ORGANIZATION OF ULFERTS ROW HOUSE PROPERTY MANAGEMENT, LLC This Certificate of Organization of ULFERTS ROW HOUSE PROPERTY MANAGEMENT, LLC (the "Company") is being executed by the undersigned for the purpose of forming a limited liability company pursuant to the Nebraska Uniform Limited Liability Company Act,Neb. Rev. Stat. 21-101 et seq. 1. Name. The name of the limited liability company is ULFERTS ROW HOUSE PROPERTY MANAGEMENT, LLC. 2 Registered Agent and Address. The name and address of the Company's registered agent for service of process in the State of Nebraska is 2612 N. 152 Street, Omaha,NE 68116. 3. Initial Designated Office. The initial designated office of the Company is 2612 N. 152 Street, Omaha,NE 68106. IN WITNESS WHEREOF, the undersigned, the organizer of the Company, has caused this Certificate of Organization to be duly executed as of the 2 day of July, 2012. Dave Ulferts, Organi'er a.� 476091 CERTIFICATE OF ORGANIZATION OF ENLR, LLC This Certificate of Organization of ENLR, LLC (the "Company") is being executed by the undersigned for the purpose of forming a limited liability company pursuant to the Nebraska Uniform Limited Liability Company Act,Neb. Rev. Stat. 21-101 et seq. 1. Name. The name of the limited liability company is ENLR, LLC. 2. Registered Agent and Address. The name and address of the Company's registered agent for service of process in the State of Nebraska is 731 N. 57th Avenue, Omaha, NE 68132. 3. Initial Designated Office. The initial designated office of the Company is 731 N. 57th vn+.4e Avenue, Omaha, NE 68132. IN WITNESS WHEREOF, the undersigned, the organi, er of the Company, has caused this Certificate of Organization to be duly executed as of the day of July, 2012. . J =f ' ylal, •rgani'er 476095 12) Attachments Description Name Attachment# 1 Nebraska State Historical Society—Nomination approval. Attachment#2 MUD Agreement—for new water main STATE HISTORICAL SOCIETY September 24, 2012 Traver Row, LLC 2612 North 152nd Street Omaha, NE 68116 Dear Sir/Madam: As you know, the Nebraska State Historic Preservation Review Board met on September 21, 2012, to review nominations to the National Register of Historic Places. The board approved the nomination of the Traver Brothers Houses. The nomination will now be forwarded to the Keeper of the National Register of Historic Places, National Park Service,for final review; and if approved, listing in the Register. You will be notified of the listing and receive a copy of the nomination. We want to thank you for your support of historic preservation and commend you for your commitment to preserve this property. Please let us know if we can provide any technical assistance in the future. Sincerely, L. 'obert Puschendorf Deputy State Historic Pres-rvation Officer 1500 R Street PO Box 82554 Lincoln,NE 68501-2554 p:(800)833-6747 (402)471-3270 p f:(402)471-3100 www.nebraskahistory.org Traver' s Row Addendum TIF Application City of Omaha Project Name: Traver's Row Date: March 20, 2013 Changes reflected by section and description noted below. In all cases it reflects$28,000 in property acquisition costs not accounted for in our original TIF Application. Section 1: Project Summary Estimated Total Project Cost: $1,853,500 (increase of$28,000) Section 5: Sources&Uses Sources: Adding Owners Equity of$28,000 New total of$1,853,500(increase of$28,000) Uses: Adding$28,000 to Site Work&Additional Expenses new total$647,000 New total of$1,853,500(increase of$28,000) Section 6: Construction Budget Site Work& Additional Expenses: Adding$28,000 in Acquisition.Costs. New Site Work&Additional Expenses Total $653,000 Grand Total $1,853,500 (increase of$28,000) Thank you. C-25A CITY OF OMAHA LEGISLATIVE CHAMBER Omaha, Nebraska RESOLVED BY THE CITY COUNCIL OF THE CITY OF OMAHA: WHEREAS, the primary objectives of the City of Omaha's Master Plan and Community Development Program are to encourage additional private investment and infill development within inner-city neighborhoods; and to eliminate conditions which are detrimental to public health, safety and welfare, by developing vacant, underutilized property within these neighborhoods; and, WHEREAS, the redevelopment project site located at 26th and St. Mary's Avenue is within a designated community redevelopment area, as the area meets the definition of blighted and substandard per the Community Development law and is in need of redevelopment; and, WHEREAS, the Traver's Row Tax Increment Financing (TIF) Redevelopment Project Plan was approved by the TIF Committee and subsequently, by the City of Omaha Planning Board at their April 3, 2013 meeting; and, WHEREAS, the project site for Traver's Row Tax Increment Financing (TIF) Redevelopment Project Plan is located at 26th and St. Mary's Avenue and is legally described in Exhibit "A" which is attached hereto and herein incorporated by reference; and, WHEREAS, the Traver's Row Tax Increment Financing (TIF) Redevelopment Project Plan which contemplates the complete rehabilitation of 10 historic duplex apartment buildings and the rehabilitation of the structure which contains a commercial tenant space and apartments above as described in Exhibit "B" attached hereto and herein incorporated by reference; and, WHEREAS, the Traver's Row Tax Increment Financing (TIF) Redevelopment Project Plan recommends the City's participation in the redevelopment of this project site through the allocation of TIF in an amount up to $318,500.00 to offset costs such as acquisition, site work, rehabilitation, architectural and engineering fees, surveying, and any public improvement to include $10,000.00 in TIF contributions toward the street improvements along Leavenworth Street corridor; and, WHEREAS, the Plan presents a project based on estimated figures and projections that are subject to change as project costs are finalized, and is required to comply with all Planning Department requirements and Planning Board recommendations; and, By Council member Adopted City Clerk Approved Mayor C-25A CITY OF OMAHA LEGISLATIVE CHAMBER Omaha,Nebraska Page 2 WHEREAS, Section 18-2108 of the Nebraska Revised Statutes requires the City of Omaha to adopt a redevelopment plan before taking an active part in a redevelopment project; including the division of ad valorem taxes for a period not to exceed fifteen years under Sections 18-2147 through 18-2150, Revised Statutes of Nebraska; and, NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF OMAHA: THAT, the attached Traver's Row Tax Increment Financing (TIF) Redevelopment Project Plan for the redevelopment project site located at 26th and St. Mary's Avenue which contemplates the complete rehabilitation of 10 historic duplex apartment buildings and the rehabilitation of the structure which contains a commercial tenant space and apartments above; recommending the City's participation through the allocation of TIF in an amount up to $318,500.00 to offset costs such as acquisition, site work, rehabilitation, architectural and engineering fees, surveying, and any public improvement to include $10,000.00 in TIF contributions toward the street improvements along Leavenworth Street corridor, but is subject to change as final costs come in; containing a provision for the division of ad valorem taxes under Section 18-2147 through 18-2150, Revised Statutes of Nebraska, as recommended by the City Planning Department, be and hereby is approved. APPROVED AS TO FORM: pu., CITY ATTORNEY DATE 1838 dlh By..•117,4479711-14. ou cilmember Adopted Jf// Z. 1.... .. . 13 C rl ` 14 y Clerk Approved... e Mayor NO. Resolution by Res. that, the attached Traver's Row Tax Increment Financing (TIF) Redevelopment 1838 dlh Project Plan for the redevelopment project site located at 26th and St. Mary's Avenue which contemplates the complete rehabilitation of 10 historic duplex apartment buildings and the rehabilitation of the structure which contains a commercial tenant space and apartments above; recommending the City's participation through the allocation of TIF in an amount up to $318,500.00 to offset costs such as acquisition, site work, rehabilitation, architectural and engineering fees, surveying, and any public improvement to include $10,000.00 in TIF contributions toward the street improvements along Leavenworth Street corridor, but is subject to change as final costs come in; containing a provision for the division of ad valorem taxes under Section 18-2147 through 18-2150, Revised Statutes of Nebraska. as recommended by the City Planning Department. be and hereby is approved. Presented to City Council APR 3 0" 2013Aigary.7"0-b-Gtoile eo zivicY/A6Ve MAY 2 1 2013 - Adopted U,u3ier grown City Clerk