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RES 2012-1458 - Slate TIF redevelopment project plan oM1/4Hn,�,.6,4 RFCEI !�tPi P PlanningDepartment c_`� `af,a� Omaha/Douglas Civic Center Mr-Via r- 1819 Farnam Street,Suite 1100 12 �� � i 2Omaha,Nebraska 68183 (402)444-5150 ! Telefax(402)444-6140 4TED FEI3°' Cr TY CLERK R.E. Cunningham,RA,F.SAME City of Omaha OMAR,., NEBR.vSV: Director Jim Suttle,Mayor October 30, 2012 Honorable President and Members of the City Council, The attached Resolution transmits the Slate Tax Increment Financing (TIF) Redevelopment Project Plan which is located at 1815 Capitol Avenue & 1818 Dodge Street. This project is an adaptive reuse and retrofitting of the 7-story Capitol Plaza Building (1815 Capitol Avenue) and the 1-story, "circular" shaped building, directly adjacent to the south (1818 Dodge Street). The Slate project proposes converting the office structure of the Capitol Plaza Building and adjacent structure to the south into a mix of 116 market-rate apartment units—one and two bedrooms, and a commercial space at the corner of 19t1' and Dodge Streets. 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 $2,250,000.00 to offset costs of acquisition, rehabilitation costs, site work, architectural and engineering, surveys and environmental and any public improvements, which also includes $20,000.00 of the TIF allocation toward the Downtown Public Improvement Fund. The estimated total project cost is $13,886,500.00, but is subject to change as final costs come in. Your favorable consideration of this Resolution will be appreciated. Respectfully submitted, Referred to City Council for Consideration: 4110Fie_iktiCA=gA /6; (4-0 f2- LADa Wahlait t6. bkO iJ a-iO 1 o)/2.1/L E. Cunnin_• . SA E Date Mayor's Office Date Planning Dir-ctor /1 Approved: Pam Spaccarotella Date Q i Robert G. Stubbe, P.E. � Date Finance Director Public Works Directo l 769-dlh Notice of Publication: November 1,2012 and November 8, 2012 Public Hearing: November 20, 2012 .. 0 . DC) CD,, < . 0 , • . f:L 0 ,-t 0 -,. ,..,- -c, 5. ,-, - , - " . -• -.• , . , sw -• ,-, u) -. - ,..4, . • ,•., e... •'-'3 • " .-+ . . ' ' P-11 .-- Po vl (4 0 (7)• p ,L4. ,__, 0 CD 69 A) '0 In, .--. .-• ••-t- po° 61) 613 $1) 0 0 k v<). c 0- , ci- (-7 ,..°. •-•• . • • (--) • . _.... . -,-, fa, z 0 ,7.t" -..), ••• N. . cy) (t) z .,-,-i'-cl f2,. -.'. ,-t po '.4„ 1-4 Z.. 0-.• .-.• .„.. ,-t 5- " • z .8 I ., '"(j., CD 111) Cr., N) 1...•• cr aa ,... 0 r-f-)(7C) Z 0 0 CM 0 0 • . , n • . 4;18) .1:2- < 0 ,„.,,-0- ,_,,-. "<:::, .--t ,..z.• ..... .,....„,-'• ;,..-4 CD •-t CD 0 • ;:-_. i-4.. c) CD ,•-i Li) .---. i ,, - C) e-I. 0-I• 0 . FrCD 0 • ,----, r-t . R- , ,•.,.,... J;.‘. .', . v) ,--,-. 0 •-c, 5 5- v). g 5' c:,' 6" 5. 6 g 5. v)=.a't CD,„,! 2 a. w 5-.,,'71.4 .. .+, z CD ci) •-p- 0 0 CL. f:L Z. 0 ,--.. 0 „, ,. „ ..< ,, Z 41. (-D ,......, ,,. .. • . , . . . ,. . . , . k . . . . ... . , . . • . . -. \...,:t.. .. • • . • . --a ..cs . CD C. ,..t 0 5 " $1) - < ,_,-• cf..... • =.. 0 .., aa • . • . . I. -\„t..N,X. . . .. CD v) . '-e..._. • 'ci . . •_ .-. Po ) k... . • . • ,.. , .„ ...._ -'-' • • 5 0 0 0 •5 . .' .• - 5 . ". . • . . ;•.. ..., n \ . •- Cr 0 ' . ...... CD 0.. . - • • • ' CD •. , r. .... :•:" i„• - . Po . '"' . • '. • ' 0 . • ..•''''••••,-- 0. 0"'•--- - .,..< - .. -,.. , - . • ' I • • g '--t• .. .. .. , . CD CD •\'• ' . . . . . • ••.. • . , n . 1 . • • • • .,-,-).,--<7- • . • . . .1 . • • • . ,. ." . • • • . • , • • . • • .., • . , . • •'. - • •. . . , . • . • , • c.--------,, • - .. • . •• . . •, ._ .„ .._ . . . • .• . - • . • . . , .. . . . . , . . . /- '. ; •-.. .. , ., . • CI . / . . • • • . . • . . . . . • . . . . ..... ._ ,.._ ._ . _ .0 a EXHIBIT "B" SLATE TIF REDEVELOPMENT PROJECT PLAN 1815 CAPITOL AVENUE & 1818 DODGE STREET NOVEMBER 2012 pt,�IAHA,N OQ II i, F,,p V�A``1 f7' mitviii lil 4AED FE'B PLANNING•OMAHA 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 2,223,642 $95.64 TOTAL SOURCES $44,216,634 $345.96 . / 1 of 1 9/26/2012 1:48 PM CI scribe the equipment's snow hauling capacity. Provide information for miscellaneous equipment on additional sheets as necessary. 5 ne►- fL-SO )99b 3000P ig 7 nffri axis. 5 12 CASE: C3-12-206 APPLICANT: Planning Department on behalf of the City of Omaha REQUEST: The Slate TIE Redevelopment Project Plan at 1815 Capitol Avenue & 1818 Dodge Street LOCATION: 1815 Capitol Avenue & 1818 Dodge Street SUBJECT AREA IS SHADED - OCTOBER 2012 - - . gO-A C -1(P C B D- :11/ - ermv�- )) BD CI-1(PL 9O-ACI-1(P ( CBD- , Z / (7P CBD-ACI-1(PL) -Davenport-S# • /( • c D-ACI- ) ./ : E CBD-ACI-1(PL) ) — Capitol-Ave —Capitol-Ave 0 III E 6 BD-ACI-1(P ) • = - - , )Ili (114 • I ) s odge-St CBD-ACI-1(PL) C C . D-ACI-1( '' D-ACI-1(PL) i BD- , CI-1(PL) Q : : re CBD-ACI-1(P ) • CBD-ACI-1 (PL) �, D-ACI-1(PL) : BD- £ CI-1(PL) 0 Douglas-St N is co iiii CBD-ACI- = D-A' ) _ i ?-,-,,.. ..:_ . . - L) CBD-ACI-1(PL) C = D=ACI ' L) C : D-ACI-1(P )(4 c B - CI-1(PL) N F 0 800 a.„„„� aM.„. Feet an amount up to $2,250,000.00 to offset costs of acquisition, rehabilitation costs, site work, architectural and engineering, surveys and environmental and any public improvements, which also includes $20,000.00 of the TIF allocation toward the Downtown Public Improvement Fund. The estimated total project cost is $13,886,500.00, but is subject to change as final costs come in. Your favorable consideration of this Resolution will be appreciated. Respectfully submitted, Referred to City Council for Consideration: 4110Fie_iktiCA=gA /6; (4-0 f2- LADa Wahlait t6. bkO iJ a-iO 1 o)/2.1/L E. Cunnin_• . SA E Date Mayor's Office Date Planning Dir-ctor /1 Approved: Pam Spaccarotella Date Q i Robert G. Stubbe, P.E. � Date Finance Director Public Works Directo l 769-dlh Notice of Publication: November 1,2012 and November 8, 2012 Public Hearing: November 20, 2012 .. 0 . DC) CD,, < . 0 , • . f:L 0 ,-t 0 -,. ,..,- -c, 5. ,-, - , - " . -• -.• , . , sw -• ,-, u) -. - ,..4, . • ,•., e... •'-'3 • " .-+ . . ' ' P-11 .-- Po vl (4 0 (7)• p ,L4. ,__, 0 CD 69 A) '0 In, .--. .-• ••-t- po° 61) 613 $1) 0 0 k v<). c 0- , ci- (-7 ,..°. •-•• . • • (--) • . _.... . -,-, fa, z 0 ,7.t" -..), ••• N. . cy) (t) z .,-,-i'-cl f2,. -.'. ,-t po '.4„ 1-4 Z.. 0-.• .-.• .„.. ,-t 5- " • z .8 I ., '"(j., CD 111) Cr., N) 1...•• cr aa ,... 0 r-f-)(7C) Z 0 0 CM 0 0 • . , n • . 4;18) .1:2- < 0 ,„.,,-0- ,_,,-. "<:::, .--t ,..z.• ..... .,....„,-'• ;,..-4 CD •-t CD 0 • ;:-_. i-4.. c) CD ,•-i Li) .---. i ,, - C) e-I. 0-I• 0 . FrCD 0 • ,----, r-t . R- , ,•.,.,... J;.‘. .', . v) ,--,-. 0 •-c, 5 5- v). g 5' c:,' 6" 5. 6 g 5. v)=.a't CD,„,! 2 a. w 5-.,,'71.4 .. .+, z CD ci) •-p- 0 0 CL. f:L Z. 0 ,--.. 0 „, ,. „ ..< ,, Z 41. (-D ,......, ,,. .. • . , . . . ,. . . , . k . . . . ... . , . . • . . -. \...,:t.. .. • • . • . --a ..cs . CD C. ,..t 0 5 " $1) - < ,_,-• cf..... • =.. 0 .., aa • . • . . I. -\„t..N,X. . . .. CD v) . '-e..._. • 'ci . . •_ .-. Po ) k... . • . • ,.. , .„ ...._ -'-' • • 5 0 0 0 •5 . .' .• - 5 . ". . • . . ;•.. ..., n \ . •- Cr 0 ' . ...... CD 0.. . - • • • ' CD •. , r. .... :•:" i„• - . Po . '"' . • '. • ' 0 . • ..•''''••••,-- 0. 0"'•--- - .,..< - .. -,.. , - . • ' I • • g '--t• .. .. .. , . CD CD •\'• ' . . . . . • ••.. • . , n . 1 . • • • • .,-,-).,--<7- • . • . . .1 . • • • . ,. ." . • • • . • , • • . • • .., • . , . • •'. - • •. . . , . • . • , • c.--------,, • - .. • . •• . . •, ._ .„ .._ . . . • .• . - • . • . . , .. . . . . , . . . /- '. ; •-.. .. , ., . • CI . / . . • • • . . • . . . . . • . . . . ..... ._ ,.._ ._ . - • INTER-OFFICE COMMUNICATION Date: September 10, 2012 To: TIF Committee: Rick Cunningham, Pam Spaccarotella, AL Herink, Paul Kratz, Robert Stubbe, Todd Pfitzer, Gail Braun, David Dover, Kenneth Johnson From: Bridget A. Hadley - City Planning Applicant: Heistand Farm 137 Limited Liability Company Location: 1815 Capitol Avenue & 1818 Dodge Street Project: This project, The Slate, is an adaptive reuse and retrofitting of the 7-story Capitol Plaza Building (1815 Capitol Avenue) and the 1-story, "flying saucer" shaped building, directly adjacent to the south (1818 Dodge Street). The project site is at the original location of the state Capitol. The Slate project proposes converting the office structure of the Capitol Plaza Building and adjacent structures into a mix of 116 market-rate apartment units—one and two bedrooms, and a commercial space at the corner of 19th and Dodge Streets. Balconies are contemplated for the Capitol Plaza Building. There were historically three parking levels under the Capitol Plaza Building; the top parking level was converted to commercial space years ago. The remaining two parking levels will have between 80 and 90 stalls. OmahaPark Five, the parking structure directly across Capitol Avenue would provide additional parking spaces for lease to tenants, should they be needed. There are approximately 10 surface parking stalls directly to the east of. the 1-story, "flying saucer" shaped building which can serve the commercial patrons. The Capitol Plaza Building, formerly occupied by Black Hills Energy, and the building located at 1818 Dodge Street have been vacant for a couple of years. This project will continue the trend of creating density within the core of downtown and providing affordable, market-rate residential units for young professionals, students and others; however, the units are geared toward single Gen-Y tenants per the developer. In addition, it will help fulfill the 2030 Downtown Master Plan goal of creating over 5,000 residential units over the next 18 years. Zoning is CBD/ACI-1(PL); no changes are proposed. Utilities exist at and to the site. Public improvements such as new sidewalks, lighting and landscaping will be subject to recommendations of the Urban Design Manager, and will include any other public improvements as necessary along Dodge Street, Capitol Avenue, and 19th Street. This project will be required to comply with all Planning Department and Planning Board recommendations. No Building Permit will be issued based on a site plan that does not comply with the provisions of the Zoning Ordinance. .-• ••-t- po° 61) 613 $1) 0 0 k v<). c 0- , ci- (-7 ,..°. •-•• . • • (--) • . _.... . -,-, fa, z 0 ,7.t" -..), ••• N. . cy) (t) z .,-,-i'-cl f2,. -.'. ,-t po '.4„ 1-4 Z.. 0-.• .-.• .„.. ,-t 5- " • z .8 I ., '"(j., CD 111) Cr., N) 1...•• cr aa ,... 0 r-f-)(7C) Z 0 0 CM 0 0 • . , n • . 4;18) .1:2- < 0 ,„.,,-0- ,_,,-. "<:::, .--t ,..z.• ..... .,....„,-'• ;,..-4 CD •-t CD 0 • ;:-_. i-4.. c) CD ,•-i Li) .---. i ,, - C) e-I. 0-I• 0 . FrCD 0 • ,----, r-t . R- , ,•.,.,... J;.‘. .', . v) ,--,-. 0 •-c, 5 5- v). g 5' c:,' 6" 5. 6 g 5. v)=.a't CD,„,! 2 a. w 5-.,,'71.4 .. .+, z CD ci) •-p- 0 0 CL. f:L Z. 0 ,--.. 0 „, ,. „ ..< ,, Z 41. (-D ,......, ,,. .. • . , . . . ,. . . , . k . . . . ... . , . . • . . -. \...,:t.. .. • • . • . --a ..cs . CD C. ,..t 0 5 " $1) - < ,_,-• cf..... • =.. 0 .., aa • . • . . I. -\„t..N,X. . . .. CD v) . '-e..._. • 'ci . . •_ .-. Po ) k... . • . • ,.. , .„ ...._ -'-' • • 5 0 0 0 •5 . .' .• - 5 . ". . • . . ;•.. ..., n \ . •- Cr 0 ' . ...... CD 0.. . - • • • ' CD •. , r. .... :•:" i„• - . Po . '"' . • '. • ' 0 . • ..•''''••••,-- 0. 0"'•--- - .,..< - .. -,.. , - . • ' I • • g '--t• .. .. .. , . CD CD •\'• ' . . . . . • ••.. • . , n . 1 . • • • • .,-,-).,--<7- • . • . . .1 . • • • . ,. ." . • • • . • , • • . • • .., • . , . • •'. - • •. . . , . • . • , • c.--------,, • - .. • . •• . . •, ._ .„ .._ . . . • .• . - • . • . . , .. . . . . , . . . /- '. ; •-.. .. , ., . • CI . / . . • • • . . • . . . . . • . . . . ..... ._ ,.._ ._ . • TIF will be used to offset costs such as acquisition, rehabilitation costs, site work, architectural and engineering, surveys and environmental and public improvements. The City will also request a minimum $20,000.00 contribution from the TIF proceeds to go toward the Downtown public improvement fund. The total estimated project costs are $13,886,500.00. TIF Eligible Costs are as follows: Acquisition $ 1,000,000 Hard Costs $10,987,000 Appraisals/Permits $ 13,000 A/E $ 350,000 Environmental & Surveys $ 7,500 TIF Fees $ 75,000 Total TIF Eligible $12,432,500 The project is scheduled to be complete by October 2013. 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 approval of up to $2,250,000.00 in TIF; bank interest rate of 4.25%. Using the current levy rate of 2.17798% supports the TIF request inclusive of capitalized costs. See attached TIF calculation spreadsheets. TIF Fee Schedule: $500.00 application fee was paid, the processing fee of $3,000.00 will be collected; administrative fees of$25,000.00 will be billed. Total fees will be $28,500.00. Recommendation: Approval ATTACHMENTS TIF Application TIF Calculation Spreadsheets Dodge Street have been vacant for a couple of years. This project will continue the trend of creating density within the core of downtown and providing affordable, market-rate residential units for young professionals, students and others; however, the units are geared toward single Gen-Y tenants per the developer. In addition, it will help fulfill the 2030 Downtown Master Plan goal of creating over 5,000 residential units over the next 18 years. Zoning is CBD/ACI-1(PL); no changes are proposed. Utilities exist at and to the site. Public improvements such as new sidewalks, lighting and landscaping will be subject to recommendations of the Urban Design Manager, and will include any other public improvements as necessary along Dodge Street, Capitol Avenue, and 19th Street. This project will be required to comply with all Planning Department and Planning Board recommendations. No Building Permit will be issued based on a site plan that does not comply with the provisions of the Zoning Ordinance. .-• ••-t- po° 61) 613 $1) 0 0 k v<). c 0- , ci- (-7 ,..°. •-•• . • • (--) • . _.... . -,-, fa, z 0 ,7.t" -..), ••• N. . cy) (t) z .,-,-i'-cl f2,. -.'. ,-t po '.4„ 1-4 Z.. 0-.• .-.• .„.. ,-t 5- " • z .8 I ., '"(j., CD 111) Cr., N) 1...•• cr aa ,... 0 r-f-)(7C) Z 0 0 CM 0 0 • . , n • . 4;18) .1:2- < 0 ,„.,,-0- ,_,,-. "<:::, .--t ,..z.• ..... .,....„,-'• ;,..-4 CD •-t CD 0 • ;:-_. i-4.. c) CD ,•-i Li) .---. i ,, - C) e-I. 0-I• 0 . FrCD 0 • ,----, r-t . R- , ,•.,.,... J;.‘. .', . v) ,--,-. 0 •-c, 5 5- v). g 5' c:,' 6" 5. 6 g 5. v)=.a't CD,„,! 2 a. w 5-.,,'71.4 .. .+, z CD ci) •-p- 0 0 CL. f:L Z. 0 ,--.. 0 „, ,. „ ..< ,, Z 41. (-D ,......, ,,. .. • . , . . . ,. . . , . k . . . . ... . , . . • . . -. \...,:t.. .. • • . • . --a ..cs . CD C. ,..t 0 5 " $1) - < ,_,-• cf..... • =.. 0 .., aa • . • . . I. -\„t..N,X. . . .. CD v) . '-e..._. • 'ci . . •_ .-. Po ) k... . • . • ,.. , .„ ...._ -'-' • • 5 0 0 0 •5 . .' .• - 5 . ". . • . . ;•.. ..., n \ . •- Cr 0 ' . ...... CD 0.. . - • • • ' CD •. , r. .... :•:" i„• - . Po . '"' . • '. • ' 0 . • ..•''''••••,-- 0. 0"'•--- - .,..< - .. -,.. , - . • ' I • • g '--t• .. .. .. , . CD CD •\'• ' . . . . . • ••.. • . , n . 1 . • • • • .,-,-).,--<7- • . • . . .1 . • • • . ,. ." . • • • . • , • • . • • .., • . , . • •'. - • •. . . , . • . • , • c.--------,, • - .. • . •• . . •, ._ .„ .._ . . . • .• . - • . • . . , .. . . . . , . . . /- '. ; •-.. .. , ., . • CI . / . . • • • . . • . . . . . • . . . . ..... ._ ,.._ ._ . E 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: September 7,2012 SUBJECT: The Slate TIF Redevelopment Project Plan 1815 Capitol Avenue& 1818 Dodge Street Case#C3-12-206 This project,The Slate, is an adaptive reuse and retrofitting of the 7-story Capitol Plaza Building(1815 Capitol Avenue)and the 1-story, "circular"shaped building,directly adjacent to the south (1818 Dodge Street). The project site is at the original location of the state Capitol. The Slate project proposes converting the office structure of the Capitol Plaza Building and adjacent structures into a mix of 116 market-rate apartment units—one and two bedrooms,and a commercial space at the corner of 19th and Dodge Streets. Balconies are contemplated for the Capitol Plaza Building. There were historically three parking levels under the Capitol Plaza Building;the top parking level was converted to commercial space years ago. The remaining two parking levels will have between 80 and 90 stalls. OmahaPark Five,the parking structure directly across Capitol Avenue would provide additional parking spaces for lease to tenants,should they be needed. There are approximately 10 surface parking stalls directly to the east of the 1-story, "flying saucer"shaped building which can serve the commercial patrons. The Capitol Plaza Building,formerly occupied by Black Hills Energy,and the building located at 1818 Dodge Street have been vacant for a couple of years. This project will continue the trend of creating density within the core of downtown and providing affordable, market-rate residential units for young professionals,students and others;however,the units are geared toward single Gen-Y tenants per the developer. In addition, it will help fulfill the 2030 Downtown Master Plan goal of creating over 5,000 residential units over the next 18 years. Zoning is CBD/ACI-1(PL);no changes are proposed. Utilities exist at and to the site. Public improvements such as new sidewalks, lighting and landscaping will be subject to recommendations of the Urban Design Manager,and will include any other public improvements as necessary along Dodge Street, Capitol Avenue,and 19th Street. This project will be required to comply with all Planning Department and Planning Board recommendations. No Building Permit will be issued based on a site plan that does not comply with the provisions of the Zoning Ordinance. TIF Request:A TIF approval of up to$2,250,000.00. TIF will be used to offset costs such as acquisition, rehabilitation costs,site work,architectural and engineering,surveys and environmental and public improvements. The total estimated project costs are$13,886,500.00.00. The City will also request a minimum$20,000.00 contribution from the TIF proceeds to go toward the Downtown Public Improvement Fund. The project is scheduled to be complete by October 2013. 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 0 •-c, 5 5- v). g 5' c:,' 6" 5. 6 g 5. v)=.a't CD,„,! 2 a. w 5-.,,'71.4 .. .+, z CD ci) •-p- 0 0 CL. f:L Z. 0 ,--.. 0 „, ,. „ ..< ,, Z 41. (-D ,......, ,,. .. • . , . . . ,. . . , . k . . . . ... . , . . • . . -. \...,:t.. .. • • . • . --a ..cs . CD C. ,..t 0 5 " $1) - < ,_,-• cf..... • =.. 0 .., aa • . • . . I. -\„t..N,X. . . .. CD v) . '-e..._. • 'ci . . •_ .-. Po ) k... . • . • ,.. , .„ ...._ -'-' • • 5 0 0 0 •5 . .' .• - 5 . ". . • . . ;•.. ..., n \ . •- Cr 0 ' . ...... 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C V1 .- N M v U) Q 00000)mo) mmmmma)o) o)o)0) mmo)0) 0) o)o)mmma) o) o) l v 49 69 68 69 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 M M M M M M M M M M(`7 M M M M M M M M M M M M M M M M o W W W W W W W(D(0 UD W W W W W W W W W W W W W W W W I v O 0 H 0(9(9 699 69 69 69 69(9(9(9(9 69(9 69(9(9(9(9(9(9(9(9(9 09(9 Cl 68 « o 0 0 0 0 0 W v W W v W N N U)O n v .-r N m N m m N r 10 N 4d f9(9 69 v 0 M N m N N m N N W O m M d' M N W W n m U)N N J C N W W N O v r .- CO m O N M V v 7 M N m W M 0 W r Q I O N v cc r N v N m n W v N O m 0 N M d)n U) M o W W v 0 ti v V v V'7 V E ` M M M M M M N N N N N 09696969 0 69 W 69 69 69 09 f9 f9 f9 f9 W W W(9 09 69 f9 69 69 69 69 69 n - 2 ea P. 69 L0 0_ C 0 I u R 0 0 0 0 W W m U) N M N N v m N U) W N W n 0 N 0 0 n N W M. 0 0 CO N n 69 f9 69 f9 W 0 n W W W W W N 0 n W m n W V.U)m m M U)M W O n 69 n CO (0 a N W.-r N W t0 .- W W v N O m W W W m 0.-M W m N W N ON N m r m o N M U) W W O M U) m O N C W W M U)r m N v 1 o O . v R .0 Z W W n n N n n n W W W W W W m m m m m 0 0 0 0 0 . N OW W CO0 C 69(9(9 69 69(9 69 f9 f9 69 t9 69(9 0 8 0 69 69 W CI .- ' N N 01 ' 09(9 09 f9 Vl(A(A N N W N CI- 69 69 09 I 01 c c m Q m m m m m m m m m m m m m m m m m m m m m m m m m m v E W W N o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 o M T Z j W J ' ' ' ' M M M M M M M M M M M M M M M M M W M M M M M M M M 0 O C N LL W W W W W W W W W UD W W W W W W tD W UD W W W W W W W ' N 0) 0. C X o m > 0 C' ~ 4 LL 69696469N U9696969mmm W m W(9 W(94i(9(94i V369 v)(9696969(9 E y 0 C C N U)U)U)U)W U) U)U)U)U)U)U)U) U)U)U)U)U)U)(0 U)U)(0 M U) o c ." E L 0 N n n n n n n N n r n n N r r r r n N r N N r n n n I o c E U N j N N .- •- - •-•--•-•--•--.- .--.-.- j O J 0 N U M N N C 2.51) t9 C.�m a -o .. m m c ........64............... ' oUJ v v v v v v v v v v v v v v v v v v v v v v v v v v l y 4) ... .. . .. ... ... .. . W a) ' '" , 4 v 4 v v v v v v v v v v v v v v v v v v v v v V V toxf0 N f, l N.n n n r r N r N N N N r r N N N N n N n n n n r n v U) , > 1 o 0 69 0969-6 W v,M d)U3WW 09W W W6969696969696969t969W 69(9WW(9 W W W W WN WN W NW NW W W NW NW NW W WN NW NW W W W W W NWW W W W0O000)O0O000O00OOOO0000O000O000 .. I F NNNNNNNNc. N NNNNNNN ' I - E - • H o 3 a, J co L o O o o 0 0 0 0 0 0 0 0 O o o o o o 0 o o o o o o 0 L-. "'d H p O o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0)5 > U N Q .. .. M M M M M M M N) M M M M M M M M M M M M M M M M M M •0 C -2 N CD CD a6 W W W W W W W W W W CD C6 C6 Co ao CO W W W W W W C C N U U la N W W W W W W W W W W W W W W W W W W W W W W W W W W N O L ` N ' a) F N J r r N N N N N n n n n n n n n n r r r n N r r N n n m U '0 a F-> o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 c E N o m2 >' (9 N 4 4(9 6 6,(9 69 69 69(9 69 69 69 t9 69 W(9(9(9(9 69(9(9 69 U9(9(9(9 c O L U I o) F _ E E E 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O 0 y C y U a) C U 8 N > W d 0 Cr_ w L c y 0 n vOi m,- E d m `L = N a)m 16 a) O N E U J N N = N D U W 0 E w �o a m > E m c o 00000000000000000000000000 0 o V o rn o 0 0 0 0 0o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 'o _ _ _ . C a) C ' ' ' ' C)M M M M C'1 M M M M M M M M(h N M M M M M M M M M M G U 'C .O V �a ° W N Co CD CD W C6 a0 C6 W e W C6 W W W CD W CD C6 W CO W W W W N L Y O j N '= al jp W W W W W W W W W W W W W W W W W W W.W W W W W W W •C O O x 0 r n r r r r r r r N N r r r r r r n N r N N N N N r 0 y U C•� U °a° F m 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 'm« C f A Y m > E o 0 > 69(9<9 e9 69 69 69 69t9(969 N N t9(9 w(969N6969N(969(9<969N(96, a) c c m a m m 2 = o O V) ,-U) N O M W v W W N W W r W W W m M O W .-W N W M N v O N C i T E CC O N M v N CO r W m •-0 '-M'-4'- o o.y N A co W • _ .. ___.__-.. .. _ ___ .L._`.��LL_A _ _._... _... _ _ . . U 0 ' F tE t o j c m Q Z (I) 2 CO CO U , . I Slate 1 1 ,T,I ..., ,.........„ . ,.. 4 ,i, ii, „,;,., ,,,.... ..'",:,,- . ! '; ; :: !! ., , . „ t' tt ,_.. .„ i , , , ., 1 11,11 li -1111Mo !Pt ........_ ditildt I II untiMil, glirj„ n 11 . , + . •e { Mill 11111� �sit' :.4::H.*::.,...,,,,..,7.,. ��� �-� I I I I 1815 Capitol Ave & 1818 Dodge Street Omaha, NE I $44,216,634 $345.96 . / 1 of 1 9/26/2012 1:48 PM CI scribe the equipment's snow hauling capacity. Provide information for miscellaneous equipment on additional sheets as necessary. 5 ne►- fL-SO )99b 3000P ig 7 nffri axis. 5 i . TAX INCREMENT FINANCING 1 APPLICATION I OSHA' N4, Atjr )� �J f Ak L 1 'n5r1;r2,*erAfifizwa„In 1 040 FEBlik. II II II I I Please submit 9 copies of the completed application to the following: City of Omaha—Planning Department I I 1819 Farnam Street Suite 1111 Omaha,Nebraska 68183 II Attention: Economic Development Staff II II II �-� I I I I 1815 Capitol Ave & 1818 Dodge Street Omaha, NE I $44,216,634 $345.96 . / 1 of 1 9/26/2012 1:48 PM CI scribe the equipment's snow hauling capacity. Provide information for miscellaneous equipment on additional sheets as necessary. 5 ne►- fL-SO )99b 3000P ig 7 nffri axis. 5 I � e Pag 3 Table of Contents Project Summary II. Narrative A. Detailed Project Description B. Ownership Structure/Control of Property C. Land Use Plan-N/A D. Zoning—Current- CBD ' E. Public Improvements, if applicable-N/A F. Historical Status, if applicable III. Site Plans &Elevations IV. Alta Survey& Legal Description of project site V. Sources & Uses and preliminary commitment letters for financing and/or equity VI. Construction Project Budget and Project Timeline VII. Pro-Forma, indicating total project costs and revenues VIII. ROI Analysis—"But For"/Statement of Need IX. Evaluation Criteria A. Mandatory 1 B. Discretionary X. Cost-Benefit Analysis II XI. Organization Documentation XII. Attachments II A. Reports and Studies, if applicable-Not available at this time 1. Appraisals II 2. Market Analysis 3. Feasibility Analysis II 4. Environmental 5. Traffic I I B. Proof of Ownership of Real Property, if applicable C. Historic Designation/Preservation Documentation, if applicable II D. Other Documentation I I II »i»v, a E¢ . g E • N RO_N p t co Q J C D. C V1 .- N M v U) Q 00000)mo) mmmmma)o) o)o)0) mmo)0) 0) o)o)mmma) o) o) l v 49 69 68 69 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 M M M M M M M M M M(`7 M M M M M M M M M M M M M M M M o W W W W W W W(D(0 UD W W W W W W W W W W W W W W W W I v O 0 H 0(9(9 699 69 69 69 69(9(9(9(9 69(9 69(9(9(9(9(9(9(9(9(9 09(9 Cl 68 « o 0 0 0 0 0 W v W W v W N N U)O n v .-r N m N m m N r 10 N 4d f9(9 69 v 0 M N m N N m N N W O m M d' M N W W n m U)N N J C N W W N O v r .- CO m O N M V v 7 M N m W M 0 W r Q I O N v cc r N v N m n W v N O m 0 N M d)n U) M o W W v 0 ti v V v V'7 V E ` M M M M M M N N N N N 09696969 0 69 W 69 69 69 09 f9 f9 f9 f9 W W W(9 09 69 f9 69 69 69 69 69 n - 2 ea P. 69 L0 0_ C 0 I u R 0 0 0 0 W W m U) N M N N v m N U) W N W n 0 N 0 0 n N W M. 0 0 CO N n 69 f9 69 f9 W 0 n W W W W W N 0 n W m n W V.U)m m M U)M W O n 69 n CO (0 a N W.-r N W t0 .- W W v N O m W W W m 0.-M W m N W N ON N m r m o N M U) W W O M U) m O N C W W M U)r m N v 1 o O . v R .0 Z W W n n N n n n W W W W W W m m m m m 0 0 0 0 0 . N OW W CO0 C 69(9(9 69 69(9 69 f9 f9 69 t9 69(9 0 8 0 69 69 W CI .- ' N N 01 ' 09(9 09 f9 Vl(A(A N N W N CI- 69 69 09 I 01 c c m Q m m m m m m m m m m m m m m m m m m m m m m m m m m v E W W N o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 o M T Z j W J ' ' ' ' M M M M M M M M M M M M M M M M M W M M M M M M M M 0 O C N LL W W W W W W W W W UD W W W W W W tD W UD W W W W W W W ' N 0) 0. C X o m > 0 C' ~ 4 LL 69696469N U9696969mmm W m W(9 W(94i(9(94i V369 v)(9696969(9 E y 0 C C N U)U)U)U)W U) U)U)U)U)U)U)U) U)U)U)U)U)U)(0 U)U)(0 M U) o c ." E L 0 N n n n n n n N n r n n N r r r r n N r N N r n n n I o c E U N j N N .- •- - •-•--•-•--•--.- .--.-.- j O J 0 N U M N N C 2.51) t9 C.�m a -o .. m m c ........64............... ' oUJ v v v v v v v v v v v v v v v v v v v v v v v v v v l y 4) ... .. . .. ... ... .. . W a) ' '" , 4 v 4 v v v v v v v v v v v v v v v v v v v v v V V toxf0 N f, l N.n n n r r N r N N N N r r N N N N n N n n n n r n v U) , > 1 o 0 69 0969-6 W v,M d)U3WW 09W W W6969696969696969t969W 69(9WW(9 W W W W WN WN W NW NW W W NW NW NW W WN NW NW W W W W W NWW W W W0O000)O0O000O00OOOO0000O000O000 .. I F NNNNNNNNc. N NNNNNNN ' I - E - • H o 3 a, J co L o O o o 0 0 0 0 0 0 0 0 O o o o o o 0 o o o o o o 0 L-. "'d H p O o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0)5 > U N Q .. .. M M M M M M M N) M M M M M M M M M M M M M M M M M M •0 C -2 N CD CD a6 W W W W W W W W W W CD C6 C6 Co ao CO W W W W W W C C N U U la N W W W W W W W W W W W W W W W W W W W W W W W W W W N O L ` N ' a) F N J r r N N N N N n n n n n n n n n r r r n N r r N n n m U '0 a F-> o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 c E N o m2 >' (9 N 4 4(9 6 6,(9 69 69 69(9 69 69 69 t9 69 W(9(9(9(9 69(9(9 69 U9(9(9(9 c O L U I o) F _ E E E 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O 0 y C y U a) C U 8 N > W d 0 Cr_ w L c y 0 n vOi m,- E d m `L = N a)m 16 a) O N E U J N N = N D U W 0 E w �o a m > E m c o 00000000000000000000000000 0 o V o rn o 0 0 0 0 0o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 'o _ _ _ . C a) C ' ' ' ' C)M M M M C'1 M M M M M M M M(h N M M M M M M M M M M G U 'C .O V �a ° W N Co CD CD W C6 a0 C6 W e W C6 W W W CD W CD C6 W CO W W W W N L Y O j N '= al jp W W W W W W W W W W W W W W W W W W W.W W W W W W W •C O O x 0 r n r r r r r r r N N r r r r r r n N r N N N N N r 0 y U C•� U °a° F m 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 'm« C f A Y m > E o 0 > 69(9<9 e9 69 69 69 69t9(969 N N t9(9 w(969N6969N(969(9<969N(96, a) c c m a m m 2 = o O V) ,-U) N O M W v W W N W W r W W W m M O W .-W N W M N v O N C i T E CC O N M v N CO r W m •-0 '-M'-4'- o o.y N A co W • _ .. ___.__-.. .. _ ___ .L._`.��LL_A _ _._... _... _ _ . . U 0 ' F tE t o j c m Q Z (I) 2 CO CO U Page 14 I) Project Summary Project Owner: Heistand Farm 137 Limited Liability Company Project Address: 1815 Capitol Ave & 1818 Dodge Street Omaha,NE 68102 Project Legal Description: See Alta Survey 1 Estimated Total Project Cost: $13,886,500 1 I I TIF Request: $2,250,000 • II Current Use: Vacant Office Space Current Zoning: CBD II Proposed Use: Market Rate Multi-Family Apartments I I I I Current Annual Real Estate Taxes (2011 tax year): $68,081.31 II Current Assessed Tax Valuation (2012 tax year): Land: $428,400 I I Improvements: $5,790,300.00 Total: $6,218,700.00 II II II nt's snow hauling capacity. Provide information for miscellaneous equipment on additional sheets as necessary. 5 ne►- fL-SO )99b 3000P ig 7 nffri axis. 5 1 Slate IProject Description The Capitol Plaza Building was built as a no-nonsense, serviceable office building in the heart of Omaha's ICentral Business District. The building is situated two blocks east of Central High School, built atop Capitol Hill, the location of the original state Capitol. When first constructed, pedestrians entered the I building from the corner of 19th and Capitol Avenue via a ramping walkway with concrete 'lilly pad' structures for cover. This walkway terminated in a covered elevator lobby, centrally located on the south elevation of the building. Vehicles entered the building e from either Dodge Street,Capitol Street I or 19th Street directly into one of three parking levels. The main elevator lobby, discussed earlier, was located on the uppermost parking level. Above these three parking levels were historically six office I floors, set back one structural bay on the north and south sides, and cantilevered over the sidewalk to the west. I The most recent tenant of the building was Black Hills Energy, which occupied the building until just a couple of years ago. At some point in time the concrete 'lilly pads' were removed from the north elevation and a curvilinear greenhouse-type roof constructed in their place. The 3rd floor, or uppermost Iparking level/elevator lobby was converted from parking to building services with such amenities as meeting rooms, cafeteria, kitchen and security office all constructed on a wood-framed platform floor. After the construction of their new offices, Black Hills Energy moved out and the building has remained Iderelict ever since. The building has been purchased and plans are underway for redevelopment, ensuring another 50 years of service by the building to the city of Omaha. II The exterior of this Modernist icon will be enhanced by the addition of a multitude of balconies on the north and south elevations, providing a horizontal, rhythmic counterpoint to the stark verticality of the Iblack mosaic tile bands. Besides new atrium-type doors leading out to each balcony, the existing aluminum sliders will be replaced with more thermally-effective aluminum window units. Each of the I approximately 110 residential units will have private exterior space. For the units on the fourth through I ninth floors, balconies provide this amenity. Tenants fortunate enough to have an apartment on the third (historic and new entry) level will have a glass curtain wall leading onto a private exterior terrace. I I On the interior, the redevelopment will renovate all office areas (including the third floor) of the building into efficient market-rate multi-family apartments geared toward single Gen-Y tenants. There will be a mix of approximatly 1/4 two-bedroom units to 3/4 one-bedroom units. The style of these II residential units will be clean and efficient, with studios sized at 535 square feet, one bedrooms ranging from 641 to 739 square feet, and two bedrooms ranging in size from 823 to 933 square feet. On the I I tenth floor, which is currently the equipment penthouse and roof,there will be tenant amenities such as a fitness center, a community room for parties of fifty or less, and a deck with sweeping views over Central High School, the Creighton campus and on to the Missouri River. The building will be managed Ifrom The Highline, which is a mere four blocks west on Dodge Street. The two parking levels will have between 80 and 90 stalls. OmahaPark Five, the parking structure directly across Capitol Avenue would II have additional parking spaces for lease to tenants,should they be needed. The north addition/ 'flying saucer' building will also accompany the renovation with six more residential II units and some type of restaurant or night club, adding additional zest and a fresh sense of vibrancy to this somewhat overlooked corner of downtown. II �m a -o .. m m c ........64............... ' oUJ v v v v v v v v v v v v v v v v v v v v v v v v v v l y 4) ... .. . .. ... ... .. . W a) ' '" , 4 v 4 v v v v v v v v v v v v v v v v v v v v v V V toxf0 N f, l N.n n n r r N r N N N N r r N N N N n N n n n n r n v U) , > 1 o 0 69 0969-6 W v,M d)U3WW 09W W W6969696969696969t969W 69(9WW(9 W W W W WN WN W NW NW W W NW NW NW W WN NW NW W W W W W NWW W W W0O000)O0O000O00OOOO0000O000O000 .. I F NNNNNNNNc. N NNNNNNN ' I - E - • H o 3 a, J co L o O o o 0 0 0 0 0 0 0 0 O o o o o o 0 o o o o o o 0 L-. "'d H p O o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0)5 > U N Q .. .. M M M M M M M N) M M M M M M M M M M M M M M M M M M •0 C -2 N CD CD a6 W W W W W W W W W W CD C6 C6 Co ao CO W W W W W W C C N U U la N W W W W W W W W W W W W W W W W W W W W W W W W W W N O L ` N ' a) F N J r r N N N N N n n n n n n n n n r r r n N r r N n n m U '0 a F-> o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 c E N o m2 >' (9 N 4 4(9 6 6,(9 69 69 69(9 69 69 69 t9 69 W(9(9(9(9 69(9(9 69 U9(9(9(9 c O L U I o) F _ E E E 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O 0 y C y U a) C U 8 N > W d 0 Cr_ w L c y 0 n vOi m,- E d m `L = N a)m 16 a) O N E U J N N = N D U W 0 E w �o a m > E m c o 00000000000000000000000000 0 o V o rn o 0 0 0 0 0o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 'o _ _ _ . C a) C ' ' ' ' C)M M M M C'1 M M M M M M M M(h N M M M M M M M M M M G U 'C .O V �a ° W N Co CD CD W C6 a0 C6 W e W C6 W W W CD W CD C6 W CO W W W W N L Y O j N '= al jp W W W W W W W W W W W W W W W W W W W.W W W W W W W •C O O x 0 r n r r r r r r r N N r r r r r r n N r N N N N N r 0 y U C•� U °a° F m 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 'm« C f A Y m > E o 0 > 69(9<9 e9 69 69 69 69t9(969 N N t9(9 w(969N6969N(969(9<969N(96, a) c c m a m m 2 = o O V) ,-U) N O M W v W W N W W r W W W m M O W .-W N W M N v O N C i T E CC O N M v N CO r W m •-0 '-M'-4'- o o.y N A co W • _ .. ___.__-.. .. _ ___ .L._`.��LL_A _ _._... _... _ _ . . U 0 ' F tE t o j c m Q Z (I) 2 CO CO U I . 1 - THE DEVELOPMENT TEAM Developer/General Contractor Accountant I Nustyle Development Brad R.Gross C.P.A. Todd Heistand 613 Iowa Ave 514 Walker Street Dunlap,IA 51529 Woodbine,IA 51579 Phone:(712)643-5158 I Phone: (712)647-2041 Fax: (712)647-2990 Contact: Todd Heistand Mechanical Engineer I Architect Morrissey Engineering Inc. 3317 North 107th Street Omaha,NE 68134 Alley Poyner Architecture Phone:(402)491-4144 I 1516 Cumming Street Contact:George Morrissey Omaha,NE 68102 Phone: (402)341-1544 Structural Engineer Fax: (402)341-4735 I Contact: Albert Macchietto Thompson,Dreesen,&Dorner 10836 Old Mill Road Property Management Omaha,NE 68154 I Phone: (402)330-8860 Heistand Properties Management LLC Fax: (402)330-5866 1524 Cuming Street Contact: Kip Squire Omaha,NE 68102 I Phone: (402)345-8000 Civil Engineer Fax: (402)345-0334 Contact: Michelle Woodson Thompson,Dreesen,&Dorner 10836 Old Mill Road I Attorney Omaha,NE 68154 Phone: (402)330-8860 Woods&Aitken LLP Fax: (402)330-5866 10250 Regency Circle Contact: Kip Squire I Omaha,NE 68114 Phone: (402)898-7409 Fax: (402)898-7401 Owner Contact: Mike Matejka I Heistand Farms 137,LLC 514 Walker Street Woodbine,IA 51579 Phone: (712)-647-2041 I Fax: (712)647-2990 Contact: Todd Heistand I I I EXHIBIT 8 nced by the addition of a multitude of balconies on the north and south elevations, providing a horizontal, rhythmic counterpoint to the stark verticality of the Iblack mosaic tile bands. Besides new atrium-type doors leading out to each balcony, the existing aluminum sliders will be replaced with more thermally-effective aluminum window units. Each of the I approximately 110 residential units will have private exterior space. For the units on the fourth through I ninth floors, balconies provide this amenity. Tenants fortunate enough to have an apartment on the third (historic and new entry) level will have a glass curtain wall leading onto a private exterior terrace. I I On the interior, the redevelopment will renovate all office areas (including the third floor) of the building into efficient market-rate multi-family apartments geared toward single Gen-Y tenants. There will be a mix of approximatly 1/4 two-bedroom units to 3/4 one-bedroom units. The style of these II residential units will be clean and efficient, with studios sized at 535 square feet, one bedrooms ranging from 641 to 739 square feet, and two bedrooms ranging in size from 823 to 933 square feet. On the I I tenth floor, which is currently the equipment penthouse and roof,there will be tenant amenities such as a fitness center, a community room for parties of fifty or less, and a deck with sweeping views over Central High School, the Creighton campus and on to the Missouri River. The building will be managed Ifrom The Highline, which is a mere four blocks west on Dodge Street. The two parking levels will have between 80 and 90 stalls. OmahaPark Five, the parking structure directly across Capitol Avenue would II have additional parking spaces for lease to tenants,should they be needed. The north addition/ 'flying saucer' building will also accompany the renovation with six more residential II units and some type of restaurant or night club, adding additional zest and a fresh sense of vibrancy to this somewhat overlooked corner of downtown. II �m a -o .. m m c ........64............... ' oUJ v v v v v v v v v v v v v v v v v v v v v v v v v v l y 4) ... .. . .. ... ... .. . 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C a) C ' ' ' ' C)M M M M C'1 M M M M M M M M(h N M M M M M M M M M M G U 'C .O V �a ° W N Co CD CD W C6 a0 C6 W e W C6 W W W CD W CD C6 W CO W W W W N L Y O j N '= al jp W W W W W W W W W W W W W W W W W W W.W W W W W W W •C O O x 0 r n r r r r r r r N N r r r r r r n N r N N N N N r 0 y U C•� U °a° F m 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 'm« C f A Y m > E o 0 > 69(9<9 e9 69 69 69 69t9(969 N N t9(9 w(969N6969N(969(9<969N(96, a) c c m a m m 2 = o O V) ,-U) N O M W v W W N W W r W W W m M O W .-W N W M N v O N C i T E CC O N M v N CO r W m •-0 '-M'-4'- o o.y N A co W • _ .. ___.__-.. .. _ ___ .L._`.��LL_A _ _._... _... _ _ . . U 0 ' F tE t o j c m Q Z (I) 2 CO CO U I ' B. OwnershipStructure Control of Property / p Y ' Property located at 1815 Captiol Ave & 1818 Dodge Street Omaha, NE 68102 Owner: Heistand Farm 137 Limited Liability Company Managing Member of Owner: Heistand Farm Holdings Limited Liability Company 100% Heistand Farm Holdings Limited Liability Company Managing Members: Todd Heistand 50% & Mary Heistand 50% • 1 1 1 I I I I I Current Annual Real Estate Taxes (2011 tax year): $68,081.31 II Current Assessed Tax Valuation (2012 tax year): Land: $428,400 I I Improvements: $5,790,300.00 Total: $6,218,700.00 II II II nt's snow hauling capacity. 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Besides new atrium-type doors leading out to each balcony, the existing aluminum sliders will be replaced with more thermally-effective aluminum window units. Each of the I approximately 110 residential units will have private exterior space. For the units on the fourth through I ninth floors, balconies provide this amenity. Tenants fortunate enough to have an apartment on the third (historic and new entry) level will have a glass curtain wall leading onto a private exterior terrace. I I On the interior, the redevelopment will renovate all office areas (including the third floor) of the building into efficient market-rate multi-family apartments geared toward single Gen-Y tenants. There will be a mix of approximatly 1/4 two-bedroom units to 3/4 one-bedroom units. The style of these II residential units will be clean and efficient, with studios sized at 535 square feet, one bedrooms ranging from 641 to 739 square feet, and two bedrooms ranging in size from 823 to 933 square feet. On the I I tenth floor, which is currently the equipment penthouse and roof,there will be tenant amenities such as a fitness center, a community room for parties of fifty or less, and a deck with sweeping views over Central High School, the Creighton campus and on to the Missouri River. The building will be managed Ifrom The Highline, which is a mere four blocks west on Dodge Street. The two parking levels will have between 80 and 90 stalls. OmahaPark Five, the parking structure directly across Capitol Avenue would II have additional parking spaces for lease to tenants,should they be needed. The north addition/ 'flying saucer' building will also accompany the renovation with six more residential II units and some type of restaurant or night club, adding additional zest and a fresh sense of vibrancy to this somewhat overlooked corner of downtown. II �m a -o .. m m c ........64............... ' oUJ v v v v v v v v v v v v v v v v v v v v v v v v v v l y 4) ... .. . .. ... ... .. . 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' Tr :_,..L.-4, Nu-- 1 'I. 1 I it a ' !Iiir' 1 I T ,4110.a.. „, ; r _1.1._ 4 p zjig,' IllmArip. r III\► I IFS s:r Ti I*III` `w ' ��.71 4) q� , li_ u .__.•40 l , .. �; • rra I = ' J !i -O w IID.crgi in`F.tQ1 �_nib _ LAMP e I iEt _al l l I IIID a ■■■D a ai� 1 f li n c 1 l 1 Iu o D .* • , I 0 I - — 1_ — ± i ■! _ is law — — . `r ' 0 \ I 1 — - ' w 4- I 0 • r'r 1S " 0 ce CD 1 I - ' ' :1� d 06 I i i FIER , 1111 I lib- -1 1. o _ I .111 W � I I ,11 , _ � - X � W i I. � , Z I Oiv O r d itt§ UI■ P— . a . •- a Q W 1 ( ) O I o co lit I cu LI , __ N I ° }' 'a O 1 I Fax: (712)647-2990 Contact: Todd Heistand I I I EXHIBIT 8 nced by the addition of a multitude of balconies on the north and south elevations, providing a horizontal, rhythmic counterpoint to the stark verticality of the Iblack mosaic tile bands. Besides new atrium-type doors leading out to each balcony, the existing aluminum sliders will be replaced with more thermally-effective aluminum window units. Each of the I approximately 110 residential units will have private exterior space. For the units on the fourth through I ninth floors, balconies provide this amenity. Tenants fortunate enough to have an apartment on the third (historic and new entry) level will have a glass curtain wall leading onto a private exterior terrace. I I On the interior, the redevelopment will renovate all office areas (including the third floor) of the building into efficient market-rate multi-family apartments geared toward single Gen-Y tenants. There will be a mix of approximatly 1/4 two-bedroom units to 3/4 one-bedroom units. The style of these II residential units will be clean and efficient, with studios sized at 535 square feet, one bedrooms ranging from 641 to 739 square feet, and two bedrooms ranging in size from 823 to 933 square feet. On the I I tenth floor, which is currently the equipment penthouse and roof,there will be tenant amenities such as a fitness center, a community room for parties of fifty or less, and a deck with sweeping views over Central High School, the Creighton campus and on to the Missouri River. The building will be managed Ifrom The Highline, which is a mere four blocks west on Dodge Street. The two parking levels will have between 80 and 90 stalls. OmahaPark Five, the parking structure directly across Capitol Avenue would II have additional parking spaces for lease to tenants,should they be needed. The north addition/ 'flying saucer' building will also accompany the renovation with six more residential II units and some type of restaurant or night club, adding additional zest and a fresh sense of vibrancy to this somewhat overlooked corner of downtown. II �m a -o .. m m c ........64............... ' oUJ v v v v v v v v v v v v v v v v v v v v v v v v v v l y 4) ... .. . .. ... ... .. . 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Besides new atrium-type doors leading out to each balcony, the existing aluminum sliders will be replaced with more thermally-effective aluminum window units. Each of the I approximately 110 residential units will have private exterior space. For the units on the fourth through I ninth floors, balconies provide this amenity. Tenants fortunate enough to have an apartment on the third (historic and new entry) level will have a glass curtain wall leading onto a private exterior terrace. I I On the interior, the redevelopment will renovate all office areas (including the third floor) of the building into efficient market-rate multi-family apartments geared toward single Gen-Y tenants. There will be a mix of approximatly 1/4 two-bedroom units to 3/4 one-bedroom units. The style of these II residential units will be clean and efficient, with studios sized at 535 square feet, one bedrooms ranging from 641 to 739 square feet, and two bedrooms ranging in size from 823 to 933 square feet. On the I I tenth floor, which is currently the equipment penthouse and roof,there will be tenant amenities such as a fitness center, a community room for parties of fifty or less, and a deck with sweeping views over Central High School, the Creighton campus and on to the Missouri River. The building will be managed Ifrom The Highline, which is a mere four blocks west on Dodge Street. The two parking levels will have between 80 and 90 stalls. OmahaPark Five, the parking structure directly across Capitol Avenue would II have additional parking spaces for lease to tenants,should they be needed. The north addition/ 'flying saucer' building will also accompany the renovation with six more residential II units and some type of restaurant or night club, adding additional zest and a fresh sense of vibrancy to this somewhat overlooked corner of downtown. II �m a -o .. m m c ........64............... ' oUJ v v v v v v v v v v v v v v v v v v v v v v v v v v l y 4) ... .. . .. ... ... .. . 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C a) C ' ' ' ' C)M M M M C'1 M M M M M M M M(h N M M M M M M M M M M G U 'C .O V �a ° W N Co CD CD W C6 a0 C6 W e W C6 W W W CD W CD C6 W CO W W W W N L Y O j N '= al jp W W W W W W W W W W W W W W W W W W W.W W W W W W W •C O O x 0 r n r r r r r r r N N r r r r r r n N r N N N N N r 0 y U C•� U °a° F m 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 'm« C f A Y m > E o 0 > 69(9<9 e9 69 69 69 69t9(969 N N t9(9 w(969N6969N(969(9<969N(96, a) c c m a m m 2 = o O V) ,-U) N O M W v W W N W W r W W W m M O W .-W N W M N v O N C i T E CC O N M v N CO r W m •-0 '-M'-4'- o o.y N A co W • _ .. ___.__-.. .. _ ___ .L._`.��LL_A _ _._... _... _ _ . . U 0 ' F tE t o j c m Q Z (I) 2 CO CO U I . 1 I ' ROI 1 ! 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' Z 0 I \ IIIIIIIII111 IIIIIIIII 11I1111111 1 IIIIIIIII ° 11IIIIIIIIII ° 1 I J I ° I 11 11 1 .. 111M.111111111, ' I _ 1I_ iiliii11111I (;�uuiiliill 1 Ii 1111111111 I II�I!IIIIIIII IluuIIIIII iliiiIiI _ 1 l ii y II I 11111111111111111 ,-iliilliill I l h�-IIIIIIIIIII [�11I111I111: �111111I111 I �1II I1111 L, I MIII M 0 1 0 [ 0(J)w C 1 nough to have an apartment on the third (historic and new entry) level will have a glass curtain wall leading onto a private exterior terrace. I I On the interior, the redevelopment will renovate all office areas (including the third floor) of the building into efficient market-rate multi-family apartments geared toward single Gen-Y tenants. There will be a mix of approximatly 1/4 two-bedroom units to 3/4 one-bedroom units. The style of these II residential units will be clean and efficient, with studios sized at 535 square feet, one bedrooms ranging from 641 to 739 square feet, and two bedrooms ranging in size from 823 to 933 square feet. On the I I tenth floor, which is currently the equipment penthouse and roof,there will be tenant amenities such as a fitness center, a community room for parties of fifty or less, and a deck with sweeping views over Central High School, the Creighton campus and on to the Missouri River. The building will be managed Ifrom The Highline, which is a mere four blocks west on Dodge Street. The two parking levels will have between 80 and 90 stalls. OmahaPark Five, the parking structure directly across Capitol Avenue would II have additional parking spaces for lease to tenants,should they be needed. The north addition/ 'flying saucer' building will also accompany the renovation with six more residential II units and some type of restaurant or night club, adding additional zest and a fresh sense of vibrancy to this somewhat overlooked corner of downtown. II �m a -o .. m m c ........64............... ' oUJ v v v v v v v v v v v v v v v v v v v v v v v v v v l y 4) ... .. . .. ... ... .. . W a) ' '" , 4 v 4 v v v v v v v v v v v v v v v v v v v v v V V toxf0 N f, l N.n n n r r N r N N N N r r N N N N n N n n n n r n v U) , > 1 o 0 69 0969-6 W v,M d)U3WW 09W W W6969696969696969t969W 69(9WW(9 W W W W WN WN W NW NW W W NW NW NW W WN NW NW W W W W W NWW W W W0O000)O0O000O00OOOO0000O000O000 .. I F NNNNNNNNc. N NNNNNNN ' I - E - • H o 3 a, J co L o O o o 0 0 0 0 0 0 0 0 O o o o o o 0 o o o o o o 0 L-. "'d H p O o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0)5 > U N Q .. .. M M M M M M M N) M M M M M M M M M M M M M M M M M M •0 C -2 N CD CD a6 W W W W W W W W W W CD C6 C6 Co ao CO W W W W W W C C N U U la N W W W W W W W W W W W W W W W W W W W W W W W W W W N O L ` N ' a) F N J r r N N N N N n n n n n n n n n r r r n N r r N n n m U '0 a F-> o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 c E N o m2 >' (9 N 4 4(9 6 6,(9 69 69 69(9 69 69 69 t9 69 W(9(9(9(9 69(9(9 69 U9(9(9(9 c O L U I o) F _ E E E 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O 0 y C y U a) C U 8 N > W d 0 Cr_ w L c y 0 n vOi m,- E d m `L = N a)m 16 a) O N E U J N N = N D U W 0 E w �o a m > E m c o 00000000000000000000000000 0 o V o rn o 0 0 0 0 0o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 'o _ _ _ . C a) C ' ' ' ' C)M M M M C'1 M M M M M M M M(h N M M M M M M M M M M G U 'C .O V �a ° W N Co CD CD W C6 a0 C6 W e W C6 W W W CD W CD C6 W CO W W W W N L Y O j N '= al jp W W W W W W W W W W W W W W W W W W W.W W W W W W W •C O O x 0 r n r r r r r r r N N r r r r r r n N r N N N N N r 0 y U C•� U °a° F m 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 'm« C f A Y m > E o 0 > 69(9<9 e9 69 69 69 69t9(969 N N t9(9 w(969N6969N(969(9<969N(96, a) c c m a m m 2 = o O V) ,-U) N O M W v W W N W W r W W W m M O W .-W N W M N v O N C i T E CC O N M v N CO r W m •-0 '-M'-4'- o o.y N A co W • _ .. ___.__-.. .. _ ___ .L._`.��LL_A _ _._... _... _ _ . . 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AS ea« d2 rsotimsox. axa�r a coaxes, arc. a.rwncsr�LAND TITLE SURVEY A�><-• O ConeultinQ EnQlneere & Lend Surveyor{ ti„y 11.1. 1J 10666 OLD WM RHO , , d OWILL et H164 'w •SIT U (10f1 630•sup' MDT NATIOLW.ONfC � "ti nww f•0-u M 0 1 0 [ 0(J)w C 1 nough to have an apartment on the third (historic and new entry) level will have a glass curtain wall leading onto a private exterior terrace. I I On the interior, the redevelopment will renovate all office areas (including the third floor) of the building into efficient market-rate multi-family apartments geared toward single Gen-Y tenants. There will be a mix of approximatly 1/4 two-bedroom units to 3/4 one-bedroom units. The style of these II residential units will be clean and efficient, with studios sized at 535 square feet, one bedrooms ranging from 641 to 739 square feet, and two bedrooms ranging in size from 823 to 933 square feet. On the I I tenth floor, which is currently the equipment penthouse and roof,there will be tenant amenities such as a fitness center, a community room for parties of fifty or less, and a deck with sweeping views over Central High School, the Creighton campus and on to the Missouri River. The building will be managed Ifrom The Highline, which is a mere four blocks west on Dodge Street. The two parking levels will have between 80 and 90 stalls. OmahaPark Five, the parking structure directly across Capitol Avenue would II have additional parking spaces for lease to tenants,should they be needed. The north addition/ 'flying saucer' building will also accompany the renovation with six more residential II units and some type of restaurant or night club, adding additional zest and a fresh sense of vibrancy to this somewhat overlooked corner of downtown. II �m a -o .. m m c ........64............... ' oUJ v v v v v v v v v v v v v v v v v v v v v v v v v v l y 4) ... .. . .. ... ... .. . W a) ' '" , 4 v 4 v v v v v v v v v v v v v v v v v v v v v V V toxf0 N f, l N.n n n r r N r N N N N r r N N N N n N n n n n r n v U) , > 1 o 0 69 0969-6 W v,M d)U3WW 09W W W6969696969696969t969W 69(9WW(9 W W W W WN WN W NW NW W W NW NW NW W WN NW NW W W W W W NWW W W W0O000)O0O000O00OOOO0000O000O000 .. I F NNNNNNNNc. N NNNNNNN ' I - E - • H o 3 a, J co L o O o o 0 0 0 0 0 0 0 0 O o o o o o 0 o o o o o o 0 L-. "'d H p O o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0)5 > U N Q .. .. M M M M M M M N) M M M M M M M M M M M M M M M M M M •0 C -2 N CD CD a6 W W W W W W W W W W CD C6 C6 Co ao CO W W W W W W C C N U U la N W W W W W W W W W W W W W W W W W W W W W W W W W W N O L ` N ' a) F N J r r N N N N N n n n n n n n n n r r r n N r r N n n m U '0 a F-> o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 c E N o m2 >' (9 N 4 4(9 6 6,(9 69 69 69(9 69 69 69 t9 69 W(9(9(9(9 69(9(9 69 U9(9(9(9 c O L U I o) F _ E E E 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O 0 y C y U a) C U 8 N > W d 0 Cr_ w L c y 0 n vOi m,- E d m `L = N a)m 16 a) O N E U J N N = N D U W 0 E w �o a m > E m c o 00000000000000000000000000 0 o V o rn o 0 0 0 0 0o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 'o _ _ _ . C a) C ' ' ' ' C)M M M M C'1 M M M M M M M M(h N M M M M M M M M M M G U 'C .O V �a ° W N Co CD CD W C6 a0 C6 W e W C6 W W W CD W CD C6 W CO W W W W N L Y O j N '= al jp W W W W W W W W W W W W W W W W W W W.W W W W W W W •C O O x 0 r n r r r r r r r N N r r r r r r n N r N N N N N r 0 y U C•� U °a° F m 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 'm« C f A Y m > E o 0 > 69(9<9 e9 69 69 69 69t9(969 N N t9(9 w(969N6969N(969(9<969N(96, a) c c m a m m 2 = o O V) ,-U) N O M W v W W N W W r W W W m M O W .-W N W M N v O N C i T E CC O N M v N CO r W m •-0 '-M'-4'- o o.y N A co W • _ .. ___.__-.. .. _ ___ .L._`.��LL_A _ _._... _... _ _ . . U 0 ' F tE t o j c m Q Z (I) 2 CO CO U I . elate upon stabilization with TIF 'SOURCES AND USES OF FUNDS 116 UNITS + COMMERCIAL USE OF FUNDS TOTAL PER UNIT IPURCHASE OF BUILDING and LAND 1,000,000 8,621 PARKING/SITE IMPROVEMENTS 140,000 1,207 CONSTRUCTION RESIDENTIAL 9,606,500 82,815 I CONSTRUCTION COMMERCIAL 155,000 1,336 CONSTRUCTION CONTINGENCY 645,000 5,560 FINANCING AND SOFT COSTS 840,000 7,241 LEASE UP AND OPERATING RESERVE 250,000 2,155 I DEVELOPER PROFIT/OVERHEAD 1,250,000 10,776 TOTAL USE OF FUNDS 13,886,500 119,711 SOURCE OF FUNDS TOTAL PER UNIT ICONVENTIONAL LOAN 9,500,000 81,897 TAX INCREMENT FINANCING 2,250,000 19,397 HOME FUNDS 0 I FEDERAL HISTORIC TAX CREDITS @$0.83 0 0 STATE HISTORIC TAX CREDITS 0 0 LOW INCOME HOUSING TAX CREDITS 0 0 G.P. EQUITY&DEFERRED FEES 2,136,500 18,418 I TOTAL SOURCE OF FUNDS 13,886,500 119,711 OPERATING PRO FORMA 'RESIDENTIAL UNITS SQ FT Per Sq. Ft. Totals I 90 702 1 -BR UNIT 850 PER MONTH 1.21 63,180 26 882 2-BR UNIT 975 PER MONTH 1.11 22,932 116 ANNUAL RESID INCOME 1,222,200 1.18 86,112 LESS VACANCY(5%) (61,110) I LESS EXPENSES (313,200) 2,700 Per Unit COMMERCIAL-TRIPLE NET I 95 85 Parking Stalls 96,900 $10.00 Per Sq. Ft 1 $ 10.00 COMMERCIAL UNIT 2,000 sq ft 20,000 ANNUAL COMMERCIAL INCOME 116,900 LESS VACANCY(10%) (11,690) ITOTAL OPERATING INCOME 953,100 "ST DEBT SERVICE RATIO 1.54 (617,581) ORT LOAN AMOUNT 9,500,000 INTEREST RATE 4.25 TERMS 25 IND DEBT SERVICE RATIO 1.16 (203,115) IF LOAN AMOUNT 2,250,000 MORT INTEREST RATE 4.25 I TERMS 15 NET INCOME $ 132.40 I Return On Equity 6.20% OWILL et H164 'w •SIT U (10f1 630•sup' MDT NATIOLW.ONfC � "ti nww f•0-u M 0 1 0 [ 0(J)w C 1 nough to have an apartment on the third (historic and new entry) level will have a glass curtain wall leading onto a private exterior terrace. I I On the interior, the redevelopment will renovate all office areas (including the third floor) of the building into efficient market-rate multi-family apartments geared toward single Gen-Y tenants. There will be a mix of approximatly 1/4 two-bedroom units to 3/4 one-bedroom units. The style of these II residential units will be clean and efficient, with studios sized at 535 square feet, one bedrooms ranging from 641 to 739 square feet, and two bedrooms ranging in size from 823 to 933 square feet. On the I I tenth floor, which is currently the equipment penthouse and roof,there will be tenant amenities such as a fitness center, a community room for parties of fifty or less, and a deck with sweeping views over Central High School, the Creighton campus and on to the Missouri River. The building will be managed Ifrom The Highline, which is a mere four blocks west on Dodge Street. The two parking levels will have between 80 and 90 stalls. OmahaPark Five, the parking structure directly across Capitol Avenue would II have additional parking spaces for lease to tenants,should they be needed. The north addition/ 'flying saucer' building will also accompany the renovation with six more residential II units and some type of restaurant or night club, adding additional zest and a fresh sense of vibrancy to this somewhat overlooked corner of downtown. II �m a -o .. m m c ........64............... ' oUJ v v v v v v v v v v v v v v v v v v v v v v v v v v l y 4) ... .. . .. ... ... .. . W a) ' '" , 4 v 4 v v v v v v v v v v v v v v v v v v v v v V V toxf0 N f, l N.n n n r r N r N N N N r r N N N N n N n n n n r n v U) , > 1 o 0 69 0969-6 W v,M d)U3WW 09W W W6969696969696969t969W 69(9WW(9 W W W W WN WN W NW NW W W NW NW NW W WN NW NW W W W W W NWW W W W0O000)O0O000O00OOOO0000O000O000 .. I F NNNNNNNNc. N NNNNNNN ' I - E - • H o 3 a, J co L o O o o 0 0 0 0 0 0 0 0 O o o o o o 0 o o o o o o 0 L-. "'d H p O o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0)5 > U N Q .. .. M M M M M M M N) M M M M M M M M M M M M M M M M M M •0 C -2 N CD CD a6 W W W W W W W W W W CD C6 C6 Co ao CO W W W W W W C C N U U la N W W W W W W W W W W W W W W W W W W W W W W W W W W N O L ` N ' a) F N J r r N N N N N n n n n n n n n n r r r n N r r N n n m U '0 a F-> o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 c E N o m2 >' (9 N 4 4(9 6 6,(9 69 69 69(9 69 69 69 t9 69 W(9(9(9(9 69(9(9 69 U9(9(9(9 c O L U I o) F _ E E E 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O 0 y C y U a) C U 8 N > W d 0 Cr_ w L c y 0 n vOi m,- E d m `L = N a)m 16 a) O N E U J N N = N D U W 0 E w �o a m > E m c o 00000000000000000000000000 0 o V o rn o 0 0 0 0 0o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 'o _ _ _ . C a) C ' ' ' ' C)M M M M C'1 M M M M M M M M(h N M M M M M M M M M M G U 'C .O V �a ° W N Co CD CD W C6 a0 C6 W e W C6 W W W CD W CD C6 W CO W W W W N L Y O j N '= al jp W W W W W W W W W W W W W W W W W W W.W W W W W W W •C O O x 0 r n r r r r r r r N N r r r r r r n N r N N N N N r 0 y U C•� U °a° F m 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 'm« C f A Y m > E o 0 > 69(9<9 e9 69 69 69 69t9(969 N N t9(9 w(969N6969N(969(9<969N(96, a) c c m a m m 2 = o O V) ,-U) N O M W v W W N W W r W W W m M O W .-W N W M N v O N C i T E CC O N M v N CO r W m •-0 '-M'-4'- o o.y N A co W • _ .. ___.__-.. .. _ ___ .L._`.��LL_A _ _._... _... _ _ . . U 0 ' F tE t o j c m Q Z (I) 2 CO CO U I . IS-late upon stabilization without TIF `SOURCES AND USES OF FUNDS 116 UNITS + COMMERCIAL USE OF FUNDS TOTAL PER UNIT IPURCHASE OF BUILDING and LAND 1,000,000 8,621 PARKING/SITE IMPROVEMENTS 140,000 1,207 I CONSTRUCTION RESIDENTIAL 9,606,500 82,815 CONSTRUCTION COMMERCIAL 155,000 1,336 CONSTRUCTION CONTINGENCY 645,000 5,560 FINANCING AND SOFT COSTS 840,000 7,241 I LEASE UP AND OPERATING RESERVE 250,000 2,155 DEVELOPER PROFIT/OVERHEAD 1,250,000 10,776 TOTAL USE OF FUNDS 13,886,500 119,711 ISOURCE OF FUNDS TOTAL PER UNIT CONVENTIONAL LOAN 11,750,000 101,293 TAX INCREMENT FINANCING 0 0 I G.P. EQUITY&DEFERRED FEES 2,136,500 18,418 ,TOTAL SOURCE OF FUNDS 13,886,500 119,711 'OPERATING PRO FORMA RESIDENTIAL I UNITS SQ FT Per Sq. Ft. Totals 90 702 1 -BR UNIT 850 PER MONTH 1.21 63,180 26 882 2-BR UNIT 975 PER MONTH 1.11 22,932 116 ANNUAL RESID INCOME 1,222,200 1.18 86,112 I LESS VACANCY(5%) (61,110) LESS EXPENSES (313,200) 2,700 Per Unit ADDITIONAL TAXES DUE WITHOUT TIF (203,115) IOMMERCIAL-TRIPLE NET 95 85 Parking Stalls 96,900 $10.00 Per Sq. Ft 1 $ 10.00 COMMERCIAL UNIT 2,000 sq ft 20,000 I ANNUAL COMMERCIAL INCOME 116,900 LESS VACANCY(10%) (11,690) 1 I TOTAL OPERATING INCOME 749,985 1ST DEBT SERVICE RATIO 0.98 (763,851) 'MORT LOAN AMOUNT 11,750,000 INTEREST RATE 4.25 TERMS 25 1 ND DEBT SERVICE RATIO 0.98 0 TIF LOAN AMOUNT 0 MORT INTEREST RATE 4.25 TERMS 15 INET INCOME $ (13.866) 1 Return on Equity -0.65% $ 132.40 I Return On Equity 6.20% OWILL et H164 'w •SIT U (10f1 630•sup' MDT NATIOLW.ONfC � "ti nww f•0-u M 0 1 0 [ 0(J)w C 1 nough to have an apartment on the third (historic and new entry) level will have a glass curtain wall leading onto a private exterior terrace. I I On the interior, the redevelopment will renovate all office areas (including the third floor) of the building into efficient market-rate multi-family apartments geared toward single Gen-Y tenants. There will be a mix of approximatly 1/4 two-bedroom units to 3/4 one-bedroom units. The style of these II residential units will be clean and efficient, with studios sized at 535 square feet, one bedrooms ranging from 641 to 739 square feet, and two bedrooms ranging in size from 823 to 933 square feet. On the I I tenth floor, which is currently the equipment penthouse and roof,there will be tenant amenities such as a fitness center, a community room for parties of fifty or less, and a deck with sweeping views over Central High School, the Creighton campus and on to the Missouri River. The building will be managed Ifrom The Highline, which is a mere four blocks west on Dodge Street. The two parking levels will have between 80 and 90 stalls. OmahaPark Five, the parking structure directly across Capitol Avenue would II have additional parking spaces for lease to tenants,should they be needed. The north addition/ 'flying saucer' building will also accompany the renovation with six more residential II units and some type of restaurant or night club, adding additional zest and a fresh sense of vibrancy to this somewhat overlooked corner of downtown. II �m a -o .. m m c ........64............... ' oUJ v v v v v v v v v v v v v v v v v v v v v v v v v v l y 4) ... .. . .. ... ... .. . W a) ' '" , 4 v 4 v v v v v v v v v v v v v v v v v v v v v V V toxf0 N f, l N.n n n r r N r N N N N r r N N N N n N n n n n r n v U) , > 1 o 0 69 0969-6 W v,M d)U3WW 09W W W6969696969696969t969W 69(9WW(9 W W W W WN WN W NW NW W W NW NW NW W WN NW NW W W W W W NWW W W W0O000)O0O000O00OOOO0000O000O000 .. I F NNNNNNNNc. N NNNNNNN ' I - E - • H o 3 a, J co L o O o o 0 0 0 0 0 0 0 0 O o o o o o 0 o o o o o o 0 L-. "'d H p O o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0)5 > U N Q .. .. M M M M M M M N) M M M M M M M M M M M M M M M M M M •0 C -2 N CD CD a6 W W W W W W W W W W CD C6 C6 Co ao CO W W W W W W C C N U U la N W W W W W W W W W W W W W W W W W W W W W W W W W W N O L ` N ' a) F N J r r N N N N N n n n n n n n n n r r r n N r r N n n m U '0 a F-> o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 c E N o m2 >' (9 N 4 4(9 6 6,(9 69 69 69(9 69 69 69 t9 69 W(9(9(9(9 69(9(9 69 U9(9(9(9 c O L U I o) F _ E E E 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O 0 y C y U a) C U 8 N > W d 0 Cr_ w L c y 0 n vOi m,- E d m `L = N a)m 16 a) O N E U J N N = N D U W 0 E w �o a m > E m c o 00000000000000000000000000 0 o V o rn o 0 0 0 0 0o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 'o _ _ _ . C a) C ' ' ' ' C)M M M M C'1 M M M M M M M M(h N M M M M M M M M M M G U 'C .O V �a ° W N Co CD CD W C6 a0 C6 W e W C6 W W W CD W CD C6 W CO W W W W N L Y O j N '= al jp W W W W W W W W W W W W W W W W W W W.W W W W W W W •C O O x 0 r n r r r r r r r N N r r r r r r n N r N N N N N r 0 y U C•� U °a° F m 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 'm« C f A Y m > E o 0 > 69(9<9 e9 69 69 69 69t9(969 N N t9(9 w(969N6969N(969(9<969N(96, a) c c m a m m 2 = o O V) ,-U) N O M W v W W N W W r W W W m M O W .-W N W M N v O N C i T E CC O N M v N CO r W m •-0 '-M'-4'- o o.y N A co W • _ .. ___.__-.. .. _ ___ .L._`.��LL_A _ _._... _... _ _ . . U 0 ' F tE t o j c m Q Z (I) 2 CO CO U • FWBank ' First Westroads Bank Joel C.Jensen Senior Vice President jjensen@fwbk.com (402)778-1343 August 29,2012 Todd Heistand NuStyle Development 514 Walker St. Woodbine,IA 51579 ' RE: 1815 Capitol Avenue, Omaha,Nebraska Construction and Tax Increment Financing Dear Mr. Heistand: Please be advised that First Westroads Bank would favorably consider providing Tax Increment ' Financing in the amount of$2,250,000 at an interest rate of 4.25%, and construction financing in the amount of$9,500,000 related to the redevelopment of the property located at 1815 Capitol Avenue in Omaha,Nebraska. I look forward to working with you on this project. 1 Best regards, Joel ensen Senior Vice President • 15750 West Dodge Road•Omaha,Nebraska 68118•Main Line:(402)330-7200•Fax:(402)330-8272•www fwbk.com UNITS SQ FT Per Sq. Ft. Totals 90 702 1 -BR UNIT 850 PER MONTH 1.21 63,180 26 882 2-BR UNIT 975 PER MONTH 1.11 22,932 116 ANNUAL RESID INCOME 1,222,200 1.18 86,112 I LESS VACANCY(5%) (61,110) LESS EXPENSES (313,200) 2,700 Per Unit ADDITIONAL TAXES DUE WITHOUT TIF (203,115) IOMMERCIAL-TRIPLE NET 95 85 Parking Stalls 96,900 $10.00 Per Sq. Ft 1 $ 10.00 COMMERCIAL UNIT 2,000 sq ft 20,000 I ANNUAL COMMERCIAL INCOME 116,900 LESS VACANCY(10%) (11,690) 1 I TOTAL OPERATING INCOME 749,985 1ST DEBT SERVICE RATIO 0.98 (763,851) 'MORT LOAN AMOUNT 11,750,000 INTEREST RATE 4.25 TERMS 25 1 ND DEBT SERVICE RATIO 0.98 0 TIF LOAN AMOUNT 0 MORT INTEREST RATE 4.25 TERMS 15 INET INCOME $ (13.866) 1 Return on Equity -0.65% $ 132.40 I Return On Equity 6.20% OWILL et H164 'w •SIT U (10f1 630•sup' MDT NATIOLW.ONfC � "ti nww f•0-u M 0 1 0 [ 0(J)w C 1 nough to have an apartment on the third (historic and new entry) level will have a glass curtain wall leading onto a private exterior terrace. I I On the interior, the redevelopment will renovate all office areas (including the third floor) of the building into efficient market-rate multi-family apartments geared toward single Gen-Y tenants. There will be a mix of approximatly 1/4 two-bedroom units to 3/4 one-bedroom units. The style of these II residential units will be clean and efficient, with studios sized at 535 square feet, one bedrooms ranging from 641 to 739 square feet, and two bedrooms ranging in size from 823 to 933 square feet. On the I I tenth floor, which is currently the equipment penthouse and roof,there will be tenant amenities such as a fitness center, a community room for parties of fifty or less, and a deck with sweeping views over Central High School, the Creighton campus and on to the Missouri River. The building will be managed Ifrom The Highline, which is a mere four blocks west on Dodge Street. The two parking levels will have between 80 and 90 stalls. OmahaPark Five, the parking structure directly across Capitol Avenue would II have additional parking spaces for lease to tenants,should they be needed. The north addition/ 'flying saucer' building will also accompany the renovation with six more residential II units and some type of restaurant or night club, adding additional zest and a fresh sense of vibrancy to this somewhat overlooked corner of downtown. II �m a -o .. m m c ........64............... ' oUJ v v v v v v v v v v v v v v v v v v v v v v v v v v l y 4) ... .. . .. ... ... .. . W a) ' '" , 4 v 4 v v v v v v v v v v v v v v v v v v v v v V V toxf0 N f, l N.n n n r r N r N N N N r r N N N N n N n n n n r n v U) , > 1 o 0 69 0969-6 W v,M d)U3WW 09W W W6969696969696969t969W 69(9WW(9 W W W W WN WN W NW NW W W NW NW NW W WN NW NW W W W W W NWW W W W0O000)O0O000O00OOOO0000O000O000 .. I F NNNNNNNNc. N NNNNNNN ' I - E - • H o 3 a, J co L o O o o 0 0 0 0 0 0 0 0 O o o o o o 0 o o o o o o 0 L-. "'d H p O o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0)5 > U N Q .. .. M M M M M M M N) M M M M M M M M M M M M M M M M M M •0 C -2 N CD CD a6 W W W W W W W W W W CD C6 C6 Co ao CO W W W W W W C C N U U la N W W W W W W W W W W W W W W W W W W W W W W W W W W N O L ` N ' a) F N J r r N N N N N n n n n n n n n n r r r n N r r N n n m U '0 a F-> o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 c E N o m2 >' (9 N 4 4(9 6 6,(9 69 69 69(9 69 69 69 t9 69 W(9(9(9(9 69(9(9 69 U9(9(9(9 c O L U I o) F _ E E E 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O 0 y C y U a) C U 8 N > W d 0 Cr_ w L c y 0 n vOi m,- E d m `L = N a)m 16 a) O N E U J N N = N D U W 0 E w �o a m > E m c o 00000000000000000000000000 0 o V o rn o 0 0 0 0 0o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 'o _ _ _ . C a) C ' ' ' ' C)M M M M C'1 M M M M M M M M(h N M M M M M M M M M M G U 'C .O V �a ° W N Co CD CD W C6 a0 C6 W e W C6 W W W CD W CD C6 W CO W W W W N L Y O j N '= al jp W W W W W W W W W W W W W W W W W W W.W W W W W W W •C O O x 0 r n r r r r r r r N N r r r r r r n N r N N N N N r 0 y U C•� U °a° F m 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 'm« C f A Y m > E o 0 > 69(9<9 e9 69 69 69 69t9(969 N N t9(9 w(969N6969N(969(9<969N(96, a) c c m a m m 2 = o O V) ,-U) N O M W v W W N W W r W W W m M O W .-W N W M N v O N C i T E CC O N M v N CO r W m •-0 '-M'-4'- o o.y N A co W • _ .. ___.__-.. .. _ ___ .L._`.��LL_A _ _._... _... _ _ . . U 0 ' F tE t o j c m Q Z (I) 2 CO CO U I . iThe Slate TIF Costs 8/7/2012 Cost Land 100,000 Existing Structures 900,000 Site Grading, Clearing, Parking,etc. 40,000 Off-site Improvements (TIF) 100,000 Construction Hard Costs 8,594,500 Construction Contingency 645,000 Architectural 345,000 Survey\ Engineering Fees 8,000 Environmental Study \ Review 4,500 General Conditions 250,000 IGC Fee 1,000,000 'TIF HARD COSTS 11,987,000 1 1 1 1 1 urrent Assessed Tax Valuation (2012 tax year): Land: $428,400 I I Improvements: $5,790,300.00 Total: $6,218,700.00 II II II nt's snow hauling capacity. Provide information for miscellaneous equipment on additional sheets as necessary. 5 ne►- fL-SO )99b 3000P ig 7 nffri axis. 5 I Units 116 Residential Construction Budget Cost►Unit I Utilities and Telephone 50,000 431 Temporary Toilets 5,500 47 Dump Fees and Trash Hauling 45,000 388 Demolition Labor 110,000 948 Asbestos/Lead Removal 4,000 34 Core Drilling/Sawcuts 130,000 1,121 Concrete/Interior 78,000 672 Concrete/Flatwork 40,000 345 I Parking Lot/Garage i 40,000 345 Elevator Maintenance 5,000 43 Tuckpointing/Masonry 10,000 86 I Windows 300,000 2,586 Storefront Glass 50,000 431 Historical Storefronts - ICarpentry-Material 5,000 43 Carpentry-Labor 10,000 86 ' Roof 125,000 1,078 Crane cost 30,000 259 Steel Fabrication I 80,000 690 ' Steel Erection I 50,000 431 Elevators 500,000 4,310 Fireproofing 10,000 86 I Framing/Drywall/Insulate 900,000 7,759 Plumbing 1,200,000 10,345 HVAC 1,040,000 8,966 IElectrical I 1,500,000 12,931 Fire Sprinkler I 300,000 2,586 I Fire Alarm System 75,000 647 Security System 75,000 647 Kitchen/Bath Cabinets 220,000 1,897 I Wooden Doors and Trim 90,000 776 Hardware Material 55,000 474 Cabinet/Trim Install 90,000 776 I Metal Doors 50,000 431 Metal Doors/Hardware Install 7,000 60 Paint/ Stain 116,000 1,000 IFlooring 289,000 2,491 Refurbish Floors and Stairs 5,000 43 ' Appliances 232,000 2,000 Bath accessories 54,000 466 Closet Shelving 23,200 200 I Window Coverings 10,000 86 Signage/Mailboxes 6,800 59 I 15 INET INCOME $ (13.866) 1 Return on Equity -0.65% $ 132.40 I Return On Equity 6.20% OWILL et H164 'w •SIT U (10f1 630•sup' MDT NATIOLW.ONfC � "ti nww f•0-u M 0 1 0 [ 0(J)w C 1 nough to have an apartment on the third (historic and new entry) level will have a glass curtain wall leading onto a private exterior terrace. I I On the interior, the redevelopment will renovate all office areas (including the third floor) of the building into efficient market-rate multi-family apartments geared toward single Gen-Y tenants. There will be a mix of approximatly 1/4 two-bedroom units to 3/4 one-bedroom units. The style of these II residential units will be clean and efficient, with studios sized at 535 square feet, one bedrooms ranging from 641 to 739 square feet, and two bedrooms ranging in size from 823 to 933 square feet. On the I I tenth floor, which is currently the equipment penthouse and roof,there will be tenant amenities such as a fitness center, a community room for parties of fifty or less, and a deck with sweeping views over Central High School, the Creighton campus and on to the Missouri River. The building will be managed Ifrom The Highline, which is a mere four blocks west on Dodge Street. The two parking levels will have between 80 and 90 stalls. OmahaPark Five, the parking structure directly across Capitol Avenue would II have additional parking spaces for lease to tenants,should they be needed. The north addition/ 'flying saucer' building will also accompany the renovation with six more residential II units and some type of restaurant or night club, adding additional zest and a fresh sense of vibrancy to this somewhat overlooked corner of downtown. II �m a -o .. m m c ........64............... ' oUJ v v v v v v v v v v v v v v v v v v v v v v v v v v l y 4) ... .. . .. ... ... .. . W a) ' '" , 4 v 4 v v v v v v v v v v v v v v v v v v v v v V V toxf0 N f, l N.n n n r r N r N N N N r r N N N N n N n n n n r n v U) , > 1 o 0 69 0969-6 W v,M d)U3WW 09W W W6969696969696969t969W 69(9WW(9 W W W W WN WN W NW NW W W NW NW NW W WN NW NW W W W W W NWW W W W0O000)O0O000O00OOOO0000O000O000 .. I F NNNNNNNNc. N NNNNNNN ' I - E - • H o 3 a, J co L o O o o 0 0 0 0 0 0 0 0 O o o o o o 0 o o o o o o 0 L-. "'d H p O o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0)5 > U N Q .. .. M M M M M M M N) M M M M M M M M M M M M M M M M M M •0 C -2 N CD CD a6 W W W W W W W W W W CD C6 C6 Co ao CO W W W W W W C C N U U la N W W W W W W W W W W W W W W W W W W W W W W W W W W N O L ` N ' a) F N J r r N N N N N n n n n n n n n n r r r n N r r N n n m U '0 a F-> o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 c E N o m2 >' (9 N 4 4(9 6 6,(9 69 69 69(9 69 69 69 t9 69 W(9(9(9(9 69(9(9 69 U9(9(9(9 c O L U I o) F _ E E E 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O 0 y C y U a) C U 8 N > W d 0 Cr_ w L c y 0 n vOi m,- E d m `L = N a)m 16 a) O N E U J N N = N D U W 0 E w �o a m > E m c o 00000000000000000000000000 0 o V o rn o 0 0 0 0 0o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 'o _ _ _ . C a) C ' ' ' ' C)M M M M C'1 M M M M M M M M(h N M M M M M M M M M M G U 'C .O V �a ° W N Co CD CD W C6 a0 C6 W e W C6 W W W CD W CD C6 W CO W W W W N L Y O j N '= al jp W W W W W W W W W W W W W W W W W W W.W W W W W W W •C O O x 0 r n r r r r r r r N N r r r r r r n N r N N N N N r 0 y U C•� U °a° F m 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 'm« C f A Y m > E o 0 > 69(9<9 e9 69 69 69 69t9(969 N N t9(9 w(969N6969N(969(9<969N(96, a) c c m a m m 2 = o O V) ,-U) N O M W v W W N W W r W W W m M O W .-W N W M N v O N C i T E CC O N M v N CO r W m •-0 '-M'-4'- o o.y N A co W • _ .. ___.__-.. .. _ ___ .L._`.��LL_A _ _._... _... _ _ . . U 0 ' F tE t o j c m Q Z (I) 2 CO CO U I . I Final Clean 25,000 216 • . Furniture/Fitness Equip/ Decor 30,000 259 Trash Chutes/Install 8,000 69 IToilet Partitions/Install 4,000 34 Storage units I Safety/Fencing 4,000 34 Rent-Field Equipment/Crane 30,000 259 Hardware/Tools/Supplies 20,000 172 I Contract Labor 120,000 1,034 Project Manager/Accountant 30,000 259 Superintendent/Foreman 110,000 948 I GC General Conditions 250,000 2,155 General Contractor Fee 1,000,000 8,621 Contingency 645,000 5,560 1 - ' Residential Construction Total 10,291,500 88,720 ICommercial Construction Budget Cost/Unit Plumbing 10,000 IHVAC 20,000 Electrical 20,000 I Frame & Drywall 30,000 Demo 5,000 Flooring 10,000 I Finish 10,00o Basement 20,000 Windows/doors 30,000 ICommercial Construction Total 155,000 Residential Construction Commercial Construction IContingency ISoft Costs Accounting 3,000 I Appraisals / Market Study 5,000 Architectural 345,000 Building Permits 8,000 I Closing Fees & Costs 5,000 Const. Period Taxes 50,000 Const. Period Interest 200,000 I ial 55,000 474 Cabinet/Trim Install 90,000 776 I Metal Doors 50,000 431 Metal Doors/Hardware Install 7,000 60 Paint/ Stain 116,000 1,000 IFlooring 289,000 2,491 Refurbish Floors and Stairs 5,000 43 ' Appliances 232,000 2,000 Bath accessories 54,000 466 Closet Shelving 23,200 200 I Window Coverings 10,000 86 Signage/Mailboxes 6,800 59 I 15 INET INCOME $ (13.866) 1 Return on Equity -0.65% $ 132.40 I Return On Equity 6.20% OWILL et H164 'w •SIT U (10f1 630•sup' MDT NATIOLW.ONfC � "ti nww f•0-u M 0 1 0 [ 0(J)w C 1 nough to have an apartment on the third (historic and new entry) level will have a glass curtain wall leading onto a private exterior terrace. I I On the interior, the redevelopment will renovate all office areas (including the third floor) of the building into efficient market-rate multi-family apartments geared toward single Gen-Y tenants. There will be a mix of approximatly 1/4 two-bedroom units to 3/4 one-bedroom units. The style of these II residential units will be clean and efficient, with studios sized at 535 square feet, one bedrooms ranging from 641 to 739 square feet, and two bedrooms ranging in size from 823 to 933 square feet. On the I I tenth floor, which is currently the equipment penthouse and roof,there will be tenant amenities such as a fitness center, a community room for parties of fifty or less, and a deck with sweeping views over Central High School, the Creighton campus and on to the Missouri River. The building will be managed Ifrom The Highline, which is a mere four blocks west on Dodge Street. The two parking levels will have between 80 and 90 stalls. OmahaPark Five, the parking structure directly across Capitol Avenue would II have additional parking spaces for lease to tenants,should they be needed. The north addition/ 'flying saucer' building will also accompany the renovation with six more residential II units and some type of restaurant or night club, adding additional zest and a fresh sense of vibrancy to this somewhat overlooked corner of downtown. II �m a -o .. m m c ........64............... ' oUJ v v v v v v v v v v v v v v v v v v v v v v v v v v l y 4) ... .. . .. ... ... .. . W a) ' '" , 4 v 4 v v v v v v v v v v v v v v v v v v v v v V V toxf0 N f, l N.n n n r r N r N N N N r r N N N N n N n n n n r n v U) , > 1 o 0 69 0969-6 W v,M d)U3WW 09W W W6969696969696969t969W 69(9WW(9 W W W W WN WN W NW NW W W NW NW NW W WN NW NW W W W W W NWW W W W0O000)O0O000O00OOOO0000O000O000 .. I F NNNNNNNNc. N NNNNNNN ' I - E - • H o 3 a, J co L o O o o 0 0 0 0 0 0 0 0 O o o o o o 0 o o o o o o 0 L-. "'d H p O o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0)5 > U N Q .. .. M M M M M M M N) M M M M M M M M M M M M M M M M M M •0 C -2 N CD CD a6 W W W W W W W W W W CD C6 C6 Co ao CO W W W W W W C C N U U la N W W W W W W W W W W W W W W W W W W W W W W W W W W N O L ` N ' a) F N J r r N N N N N n n n n n n n n n r r r n N r r N n n m U '0 a F-> o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 c E N o m2 >' (9 N 4 4(9 6 6,(9 69 69 69(9 69 69 69 t9 69 W(9(9(9(9 69(9(9 69 U9(9(9(9 c O L U I o) F _ E E E 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O 0 y C y U a) C U 8 N > W d 0 Cr_ w L c y 0 n vOi m,- E d m `L = N a)m 16 a) O N E U J N N = N D U W 0 E w �o a m > E m c o 00000000000000000000000000 0 o V o rn o 0 0 0 0 0o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 'o _ _ _ . C a) C ' ' ' ' C)M M M M C'1 M M M M M M M M(h N M M M M M M M M M M G U 'C .O V �a ° W N Co CD CD W C6 a0 C6 W e W C6 W W W CD W CD C6 W CO W W W W N L Y O j N '= al jp W W W W W W W W W W W W W W W W W W W.W W W W W W W •C O O x 0 r n r r r r r r r N N r r r r r r n N r N N N N N r 0 y U C•� U °a° F m 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 'm« C f A Y m > E o 0 > 69(9<9 e9 69 69 69 69t9(969 N N t9(9 w(969N6969N(969(9<969N(96, a) c c m a m m 2 = o O V) ,-U) N O M W v W W N W W r W W W m M O W .-W N W M N v O N C i T E CC O N M v N CO r W m •-0 '-M'-4'- o o.y N A co W • _ .. ___.__-.. .. _ ___ .L._`.��LL_A _ _._... _... _ _ . . U 0 ' F tE t o j c m Q Z (I) 2 CO CO U I _ £fi i F iyg igg,,.ba - aL t !Rinili I ' :Wi , i,1P _c . Pa Engineering ,0 'fi1g''t 0..,0 Environmental Reports 4,500 I Legal Fees Const Period 6,000 LIHTC / Syndicator Fees Origination Fees 50,500 I Surveys ( 3,000 Property Insurance during Cons 50,000 ' TIF Costs 75,000 Title Insurance 30,000 Soft Cost Total 2,140,000 I Lease Up & Reserve Advertising 75,000 Branding 50,000 Leasing Agents 75,000 Marketing 50,000 Lease Up & Reserve Total 250,000 1 1 I 1 1 1 on for miscellaneous equipment on additional sheets as necessary. 5 ne►- fL-SO )99b 3000P ig 7 nffri axis. 5 I . I . I I- U 0 I W co • C9 • 0 Q I J 0 Z 0 I Q 2 cc • a I Q CC 2 m I L Z (.9 Z N 0 I CI w • 0 Z 1 U O a wI I 0 0 Q J n I Z 0 } , Q I W a Q N U U) w I re 0 re Zto w Z w = I g w C9 w in w a tZ- w < 0 I- W Z w a I c9 = j = CO w11 z g w a Z Z z � � o z z X a re Z 0 0 w ga U. w 0 0 C~i 00. W I- F- Z 0 > d 1 ~ g= cr ix wQ wm d ►= 2 c z Z w yU YUJ() Z 0 I ntial Construction Commercial Construction IContingency ISoft Costs Accounting 3,000 I Appraisals / Market Study 5,000 Architectural 345,000 Building Permits 8,000 I Closing Fees & Costs 5,000 Const. Period Taxes 50,000 Const. Period Interest 200,000 I ial 55,000 474 Cabinet/Trim Install 90,000 776 I Metal Doors 50,000 431 Metal Doors/Hardware Install 7,000 60 Paint/ Stain 116,000 1,000 IFlooring 289,000 2,491 Refurbish Floors and Stairs 5,000 43 ' Appliances 232,000 2,000 Bath accessories 54,000 466 Closet Shelving 23,200 200 I Window Coverings 10,000 86 Signage/Mailboxes 6,800 59 I 15 INET INCOME $ (13.866) 1 Return on Equity -0.65% $ 132.40 I Return On Equity 6.20% OWILL et H164 'w •SIT U (10f1 630•sup' MDT NATIOLW.ONfC � "ti nww f•0-u M 0 1 0 [ 0(J)w C 1 nough to have an apartment on the third (historic and new entry) level will have a glass curtain wall leading onto a private exterior terrace. I I On the interior, the redevelopment will renovate all office areas (including the third floor) of the building into efficient market-rate multi-family apartments geared toward single Gen-Y tenants. There will be a mix of approximatly 1/4 two-bedroom units to 3/4 one-bedroom units. The style of these II residential units will be clean and efficient, with studios sized at 535 square feet, one bedrooms ranging from 641 to 739 square feet, and two bedrooms ranging in size from 823 to 933 square feet. On the I I tenth floor, which is currently the equipment penthouse and roof,there will be tenant amenities such as a fitness center, a community room for parties of fifty or less, and a deck with sweeping views over Central High School, the Creighton campus and on to the Missouri River. The building will be managed Ifrom The Highline, which is a mere four blocks west on Dodge Street. The two parking levels will have between 80 and 90 stalls. OmahaPark Five, the parking structure directly across Capitol Avenue would II have additional parking spaces for lease to tenants,should they be needed. The north addition/ 'flying saucer' building will also accompany the renovation with six more residential II units and some type of restaurant or night club, adding additional zest and a fresh sense of vibrancy to this somewhat overlooked corner of downtown. II �m a -o .. m m c ........64............... ' oUJ v v v v v v v v v v v v v v v v v v v v v v v v v v l y 4) ... .. . .. ... ... .. . W a) ' '" , 4 v 4 v v v v v v v v v v v v v v v v v v v v v V V toxf0 N f, l N.n n n r r N r N N N N r r N N N N n N n n n n r n v U) , > 1 o 0 69 0969-6 W v,M d)U3WW 09W W W6969696969696969t969W 69(9WW(9 W W W W WN WN W NW NW W W NW NW NW W WN NW NW W W W W W NWW W W W0O000)O0O000O00OOOO0000O000O000 .. I F NNNNNNNNc. N NNNNNNN ' I - E - • H o 3 a, J co L o O o o 0 0 0 0 0 0 0 0 O o o o o o 0 o o o o o o 0 L-. 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O m to J p u c w 111 E �T 4 c ' h� n `.. o c mid '' a c8 2 E E _ a a) a) 2.a) z'Z E (° $ S. E 1. a v t9 ; m AI•m 5 5 % 'E,.,1 c rn 8. 8 a 0 O c c c a) L' 1 c d rn+n o x c y m > �',, w c )e m eu._d._ N La 0 E u W R c a O) N o till- fq ti y W n d rn a>i u �, d d c o) v'1 l w . g d ai LL _ re m e E c �'c :! m a, m (° p o c `_ A g c , 883 �( a .c��s1� uAx.amlwc�lSym z aye L° " m o,0,8 a L t m ai Z,c c (o E 's e it� y Cy C1��ov�lL �C�JE (° O �. Z mI c o�Bi lAp rn ti w m o 2 ci v m S. (o(ff�c°)i•� $uCJ, « m 2 f 76I(off 2 i 8 3— L° i d v s O y1y y rn 2 2 `3 t,.;� 8 a`) c I a CD E O L c.,! 5 1 U le C e `(' A (O 9 (0 ...N N I OL c I d N O r«•p 0 O N 0. a) O 0_N LL.L-.N L. 0 N a) w W a W 0.15b� z O <00ci.in <2eaLal(�v,CCE(000ac. I-- zO CC 2 a .-Fo0OH z o 1 11 i III III ! l I I 1 i i ! I 1 1 1 I I1 Ii II 1 �� ,., i•• `'';�` ` ,'„'0,.J r rAI: 1+•� 1. 1 1 �,, � • •d ,,.,`''1�' a- •--- nI.Project •i-. i No. MAPA-28(110) Fr 1 [� t► ,l!` j ti L 4 tv4n.E+ll:.., ; }' 'L. �R.rr1 :A! ... ram l i]l•. :t-:1...� r. i Control No.22537 • Exhibit"A" Harney St Corridor Feasibility Study I . I . E. STATEMENT AND DEMONSTRATION THAT THE PROJECT WOULD NOT PROCEED WITHOUT THE USE OF TIF. Without the successful incorporation of Tax Increment Financing, it would not be economically feasible to rehabilitate 1815 Capitol Ave & 1818 Dodge Street. TIF ' effectively combined with substantial equity, forms the critical basis for the remaining traditional financing to be economically viable. The developer is making a capital and equity contribution in the amount of$2,136,500. ' With TIF Without TIF ' Gross Annual Income $1,339,100 $1,339,100 Less Expenses ($313,200) ($313,200) Less Vacancy ($72,800) ($72,800) ' Less Debt Service (Primary) ($617,581) ($763,851) Less Debt Service (TIF) ($203,115) $0 ' Less Additional Debt Service $0 Less Real Estate Taxes ($203,115) Net Projected Annual Cash Flow $132,403 ($13,866) Equity $2,136,500 Return on Investment (Pre-Tax) 6.20% -0.65% Summary Conclusion: The project would not be able to proceed without Tax Increment Financing because it would not be an economically feasible investment. 1 1 EXHIBIT E 0 Architectural 345,000 Building Permits 8,000 I Closing Fees & Costs 5,000 Const. Period Taxes 50,000 Const. Period Interest 200,000 I ial 55,000 474 Cabinet/Trim Install 90,000 776 I Metal Doors 50,000 431 Metal Doors/Hardware Install 7,000 60 Paint/ Stain 116,000 1,000 IFlooring 289,000 2,491 Refurbish Floors and Stairs 5,000 43 ' Appliances 232,000 2,000 Bath accessories 54,000 466 Closet Shelving 23,200 200 I Window Coverings 10,000 86 Signage/Mailboxes 6,800 59 I 15 INET INCOME $ (13.866) 1 Return on Equity -0.65% $ 132.40 I Return On Equity 6.20% OWILL et H164 'w •SIT U (10f1 630•sup' MDT NATIOLW.ONfC � "ti nww f•0-u M 0 1 0 [ 0(J)w C 1 nough to have an apartment on the third (historic and new entry) level will have a glass curtain wall leading onto a private exterior terrace. I I On the interior, the redevelopment will renovate all office areas (including the third floor) of the building into efficient market-rate multi-family apartments geared toward single Gen-Y tenants. There will be a mix of approximatly 1/4 two-bedroom units to 3/4 one-bedroom units. The style of these II residential units will be clean and efficient, with studios sized at 535 square feet, one bedrooms ranging from 641 to 739 square feet, and two bedrooms ranging in size from 823 to 933 square feet. On the I I tenth floor, which is currently the equipment penthouse and roof,there will be tenant amenities such as a fitness center, a community room for parties of fifty or less, and a deck with sweeping views over Central High School, the Creighton campus and on to the Missouri River. The building will be managed Ifrom The Highline, which is a mere four blocks west on Dodge Street. The two parking levels will have between 80 and 90 stalls. OmahaPark Five, the parking structure directly across Capitol Avenue would II have additional parking spaces for lease to tenants,should they be needed. The north addition/ 'flying saucer' building will also accompany the renovation with six more residential II units and some type of restaurant or night club, adding additional zest and a fresh sense of vibrancy to this somewhat overlooked corner of downtown. II �m a -o .. m m c ........64............... ' oUJ v v v v v v v v v v v v v v v v v v v v v v v v v v l y 4) ... .. . .. ... ... .. . W a) ' '" , 4 v 4 v v v v v v v v v v v v v v v v v v v v v V V toxf0 N f, l N.n n n r r N r N N N N r r N N N N n N n n n n r n v U) , > 1 o 0 69 0969-6 W v,M d)U3WW 09W W W6969696969696969t969W 69(9WW(9 W W W W WN WN W NW NW W W NW NW NW W WN NW NW W W W W W NWW W W W0O000)O0O000O00OOOO0000O000O000 .. I F NNNNNNNNc. N NNNNNNN ' I - E - • H o 3 a, J co L o O o o 0 0 0 0 0 0 0 0 O o o o o o 0 o o o o o o 0 L-. "'d H p O o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0)5 > U N Q .. .. M M M M M M M N) M M M M M M M M M M M M M M M M M M •0 C -2 N CD CD a6 W W W W W W W W W W CD C6 C6 Co ao CO W W W W W W C C N U U la N W W W W W W W W W W W W W W W W W W W W W W W W W W N O L ` N ' a) F N J r r N N N N N n n n n n n n n n r r r n N r r N n n m U '0 a F-> o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 c E N o m2 >' (9 N 4 4(9 6 6,(9 69 69 69(9 69 69 69 t9 69 W(9(9(9(9 69(9(9 69 U9(9(9(9 c O L U I o) F _ E E E 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O 0 y C y U a) C U 8 N > W d 0 Cr_ w L c y 0 n vOi m,- E d m `L = N a)m 16 a) O N E U J N N = N D U W 0 E w �o a m > E m c o 00000000000000000000000000 0 o V o rn o 0 0 0 0 0o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 'o _ _ _ . C a) C ' ' ' ' C)M M M M C'1 M M M M M M M M(h N M M M M M M M M M M G U 'C .O V �a ° W N Co CD CD W C6 a0 C6 W e W C6 W W W CD W CD C6 W CO W W W W N L Y O j N '= al jp W W W W W W W W W W W W W W W W W W W.W W W W W W W •C O O x 0 r n r r r r r r r N N r r r r r r n N r N N N N N r 0 y U C•� U °a° F m 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 'm« C f A Y m > E o 0 > 69(9<9 e9 69 69 69 69t9(969 N N t9(9 w(969N6969N(969(9<969N(96, a) c c m a m m 2 = o O V) ,-U) N O M W v W W N W W r W W W m M O W .-W N W M N v O N C i T E CC O N M v N CO r W m •-0 '-M'-4'- o o.y N A co W • _ .. ___.__-.. .. _ ___ .L._`.��LL_A _ _._... _... _ _ . . U 0 ' F tE t o j c m Q Z (I) 2 CO CO U I _ - Evidence the Project Meets Evaluation Criteria Mandatory Criteria 1. The project is located at 1815 Captiol Ave & 1818 Dodge Street within a designated community redevelopment area. 2. The use of TIF will not result in a loss of pre-existing tax revenues. ' 3. The project will not be economically feasible with the use of Tax Increment Financing due to limited cash flow/debt service ratio and additional expenses for incremental taxes created. It would result in a negative cash flow situation. ' 4. The project furthers the objectives of the City's Master Plan a. Rehab vacant buildings into market rate apartments in the downtown area. ' Allowing more residents to live in the downtown area. b. This project will create an estimate of 175 construction jobs c. The apartment management will create 2 full time positions. d. The flying saucer portion of the building is being set aside for a first class restaurant space. We estimate this to create an estimate of 4 full time jobs ' and 3 part time jobs in the area. It will also create more foot traffic for other retail services in the area. Discretionary Criteria 4. The project will eliminate an actual or potential hazard to the public by redeveloping an otherwise largely vacant building and unused open lot. The ' building has been vacant for 1 %2 years. 6. The building to be redeveloped displays conditions of blight. 7. The project involves the start-up of an entirely new business, set aside commercial space for a restaurant operating within the City of Omaha. 8. The property has been declining in value as measured by the Douglas County ' Assessor's office. 1 1 Refurbish Floors and Stairs 5,000 43 ' Appliances 232,000 2,000 Bath accessories 54,000 466 Closet Shelving 23,200 200 I Window Coverings 10,000 86 Signage/Mailboxes 6,800 59 I 15 INET INCOME $ (13.866) 1 Return on Equity -0.65% $ 132.40 I Return On Equity 6.20% OWILL et H164 'w •SIT U (10f1 630•sup' MDT NATIOLW.ONfC � "ti nww f•0-u M 0 1 0 [ 0(J)w C 1 nough to have an apartment on the third (historic and new entry) level will have a glass curtain wall leading onto a private exterior terrace. I I On the interior, the redevelopment will renovate all office areas (including the third floor) of the building into efficient market-rate multi-family apartments geared toward single Gen-Y tenants. There will be a mix of approximatly 1/4 two-bedroom units to 3/4 one-bedroom units. The style of these II residential units will be clean and efficient, with studios sized at 535 square feet, one bedrooms ranging from 641 to 739 square feet, and two bedrooms ranging in size from 823 to 933 square feet. On the I I tenth floor, which is currently the equipment penthouse and roof,there will be tenant amenities such as a fitness center, a community room for parties of fifty or less, and a deck with sweeping views over Central High School, the Creighton campus and on to the Missouri River. The building will be managed Ifrom The Highline, which is a mere four blocks west on Dodge Street. The two parking levels will have between 80 and 90 stalls. OmahaPark Five, the parking structure directly across Capitol Avenue would II have additional parking spaces for lease to tenants,should they be needed. The north addition/ 'flying saucer' building will also accompany the renovation with six more residential II units and some type of restaurant or night club, adding additional zest and a fresh sense of vibrancy to this somewhat overlooked corner of downtown. II �m a -o .. m m c ........64............... ' oUJ v v v v v v v v v v v v v v v v v v v v v v v v v v l y 4) ... .. . .. ... ... .. . W a) ' '" , 4 v 4 v v v v v v v v v v v v v v v v v v v v v V V toxf0 N f, l N.n n n r r N r N N N N r r N N N N n N n n n n r n v U) , > 1 o 0 69 0969-6 W v,M d)U3WW 09W W W6969696969696969t969W 69(9WW(9 W W W W WN WN W NW NW W W NW NW NW W WN NW NW W W W W W NWW W W W0O000)O0O000O00OOOO0000O000O000 .. I F NNNNNNNNc. N NNNNNNN ' I - E - • H o 3 a, J co L o O o o 0 0 0 0 0 0 0 0 O o o o o o 0 o o o o o o 0 L-. "'d H p O o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0)5 > U N Q .. .. M M M M M M M N) M M M M M M M M M M M M M M M M M M •0 C -2 N CD CD a6 W W W W W W W W W W CD C6 C6 Co ao CO W W W W W W C C N U U la N W W W W W W W W W W W W W W W W W W W W W W W W W W N O L ` N ' a) F N J r r N N N N N n n n n n n n n n r r r n N r r N n n m U '0 a F-> o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 c E N o m2 >' (9 N 4 4(9 6 6,(9 69 69 69(9 69 69 69 t9 69 W(9(9(9(9 69(9(9 69 U9(9(9(9 c O L U I o) F _ E E E 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O 0 y C y U a) C U 8 N > W d 0 Cr_ w L c y 0 n vOi m,- E d m `L = N a)m 16 a) O N E U J N N = N D U W 0 E w �o a m > E m c o 00000000000000000000000000 0 o V o rn o 0 0 0 0 0o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 'o _ _ _ . C a) C ' ' ' ' C)M M M M C'1 M M M M M M M M(h N M M M M M M M M M M G U 'C .O V �a ° W N Co CD CD W C6 a0 C6 W e W C6 W W W CD W CD C6 W CO W W W W N L Y O j N '= al jp W W W W W W W W W W W W W W W W W W W.W W W W W W W •C O O x 0 r n r r r r r r r N N r r r r r r n N r N N N N N r 0 y U C•� U °a° F m 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 'm« C f A Y m > E o 0 > 69(9<9 e9 69 69 69 69t9(969 N N t9(9 w(969N6969N(969(9<969N(96, a) c c m a m m 2 = o O V) ,-U) N O M W v W W N W W r W W W m M O W .-W N W M N v O N C i T E CC O N M v N CO r W m •-0 '-M'-4'- o o.y N A co W • _ .. ___.__-.. .. _ ___ .L._`.��LL_A _ _._... _... _ _ . . U 0 ' F tE t o j c m Q Z (I) 2 CO CO U . EMPLOYMENT INFORMATION ' Please provide employment information for each Project Area. Reproduce the table below for each Project Area. Also, provide a separate listing of positions and corresponding salaries & wages. Permanent Jobs (FTE) to be CREATED 6 Permanent Jobs (FTE) to be RETAINED ' Permanent Jobs (FTE) to be RELOCATED TOTAL 6 ' Anticipated Annual Payroll $335,000 Estimated number of construction jobs to be created during 175 ' construction phase 1-Property Managers- $45,000 1 Maintenance -$40,000 ' 4 Full Time Restaurant Staff- $250,000 1 I Marketing 50,000 Lease Up & Reserve Total 250,000 1 1 I 1 1 1 on for miscellaneous equipment on additional sheets as necessary. 5 ne►- fL-SO )99b 3000P ig 7 nffri axis. 5 I . I/ , RESIDENTIAL UNIT INFORMATION ' Please provide employment information for each Project Area. Reproduce the table below for each Project Area. Rent Range ' Multi-Family Rental 0 Studio $0 (includes Condos, 90 1 bedroom $850 Townhomes, 26 2 bedroom $975 ' Rowhouses, Apartments) Owner-occupied 0 1 bedroom ' 0 2 bedroom 0 3 bedroom Total Units 116 r 1 1 I I I i i intenance -$40,000 ' 4 Full Time Restaurant Staff- $250,000 1 I Marketing 50,000 Lease Up & Reserve Total 250,000 1 1 I 1 1 1 on for miscellaneous equipment on additional sheets as necessary. 5 ne►- fL-SO )99b 3000P ig 7 nffri axis. 5 I COST BENEFIT ANALYSIS Slate The request meets the necessary requirements for consideration. The site is in an area that has been declared Blighted and Substandard. The TIF proceeds are to be used to cover any public ' improvement cost with the remaining balance of the TIF to be used for Project-specific TIF eligible cost. The proposed TIF will be used to offset site preparation and public improvements costs as required and to defray other site development costs that are eligible activities. The site is not being utilized at the fullest and best economic use. The site is currently vacant and/or underutilized with marginal tax value as the property with limited assessed value. The ' project will bring new infill, market-rate residential rental housing units and commercial retailing into the market. ' The use of TIF will not result in tax shifts. The current level of taxes will continue to flow to the current taxing entities, and only the increased value of revenues resulting from the improvements will be applied to the cost of the improvement. ' No community public service need will be generated as a result of this Project. The development of this site will provide employment by increasing the demand for personal services and ' employees to provide these services. This development will impact other businesses, as there will be an increase in the demand for employees to fill the employment opportunities created by this development. There will also be competition for renters to fill the new residential units ' being made available. The provision of new housing will increase employment opportunities and other economic opportunities by increasing the demand for goods and services. ' The development will cause an increase in traffic in the area; however, the current street system is able to accommodate the Project. The creation of new housing opportunities, the creation of new employment opportunities, and the increased demand for goods and services justify the cost associated with the Project. The long-term benefits resulting from the increase in the tax base resulting from the development are other valid justifications to provide assistance to the Project. This project will be able to act as a catalyst to spur much needed future development for the area directly west of this project. 1 ent on the third (historic and new entry) level will have a glass curtain wall leading onto a private exterior terrace. I I On the interior, the redevelopment will renovate all office areas (including the third floor) of the building into efficient market-rate multi-family apartments geared toward single Gen-Y tenants. There will be a mix of approximatly 1/4 two-bedroom units to 3/4 one-bedroom units. The style of these II residential units will be clean and efficient, with studios sized at 535 square feet, one bedrooms ranging from 641 to 739 square feet, and two bedrooms ranging in size from 823 to 933 square feet. On the I I tenth floor, which is currently the equipment penthouse and roof,there will be tenant amenities such as a fitness center, a community room for parties of fifty or less, and a deck with sweeping views over Central High School, the Creighton campus and on to the Missouri River. The building will be managed Ifrom The Highline, which is a mere four blocks west on Dodge Street. The two parking levels will have between 80 and 90 stalls. OmahaPark Five, the parking structure directly across Capitol Avenue would II have additional parking spaces for lease to tenants,should they be needed. The north addition/ 'flying saucer' building will also accompany the renovation with six more residential II units and some type of restaurant or night club, adding additional zest and a fresh sense of vibrancy to this somewhat overlooked corner of downtown. II �m a -o .. m m c ........64............... ' oUJ v v v v v v v v v v v v v v v v v v v v v v v v v v l y 4) ... .. . .. ... ... .. . W a) ' '" , 4 v 4 v v v v v v v v v v v v v v v v v v v v v V V toxf0 N f, l N.n n n r r N r N N N N r r N N N N n N n n n n r n v U) , > 1 o 0 69 0969-6 W v,M d)U3WW 09W W W6969696969696969t969W 69(9WW(9 W W W W WN WN W NW NW W W NW NW NW W WN NW NW W W W W W NWW W W W0O000)O0O000O00OOOO0000O000O000 .. I F NNNNNNNNc. N NNNNNNN ' I - E - • H o 3 a, J co L o O o o 0 0 0 0 0 0 0 0 O o o o o o 0 o o o o o o 0 L-. "'d H p O o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0)5 > U N Q .. .. M M M M M M M N) M M M M M M M M M M M M M M M M M M •0 C -2 N CD CD a6 W W W W W W W W W W CD C6 C6 Co ao CO W W W W W W C C N U U la N W W W W W W W W W W W W W W W W W W W W W W W W W W N O L ` N ' a) F N J r r N N N N N n n n n n n n n n r r r n N r r N n n m U '0 a F-> o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 c E N o m2 >' (9 N 4 4(9 6 6,(9 69 69 69(9 69 69 69 t9 69 W(9(9(9(9 69(9(9 69 U9(9(9(9 c O L U I o) F _ E E E 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O 0 y C y U a) C U 8 N > W d 0 Cr_ w L c y 0 n vOi m,- E d m `L = N a)m 16 a) O N E U J N N = N D U W 0 E w �o a m > E m c o 00000000000000000000000000 0 o V o rn o 0 0 0 0 0o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 'o _ _ _ . C a) C ' ' ' ' C)M M M M C'1 M M M M M M M M(h N M M M M M M M M M M G U 'C .O V �a ° W N Co CD CD W C6 a0 C6 W e W C6 W W W CD W CD C6 W CO W W W W N L Y O j N '= al jp W W W W W W W W W W W W W W W W W W W.W W W W W W W •C O O x 0 r n r r r r r r r N N r r r r r r n N r N N N N N r 0 y U C•� U °a° F m 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 'm« C f A Y m > E o 0 > 69(9<9 e9 69 69 69 69t9(969 N N t9(9 w(969N6969N(969(9<969N(96, a) c c m a m m 2 = o O V) ,-U) N O M W v W W N W W r W W W m M O W .-W N W M N v O N C i T E CC O N M v N CO r W m •-0 '-M'-4'- o o.y N A co W • _ .. ___.__-.. .. _ ___ .L._`.��LL_A _ _._... _... _ _ . . U 0 ' F tE t o j c m Q Z (I) 2 CO CO U Exhibits 1. Financial Statements available upon request to be held in confidence. i i ce the table below for each Project Area. Rent Range ' Multi-Family Rental 0 Studio $0 (includes Condos, 90 1 bedroom $850 Townhomes, 26 2 bedroom $975 ' Rowhouses, Apartments) Owner-occupied 0 1 bedroom ' 0 2 bedroom 0 3 bedroom Total Units 116 r 1 1 I I I i i intenance -$40,000 ' 4 Full Time Restaurant Staff- $250,000 1 I Marketing 50,000 Lease Up & Reserve Total 250,000 1 1 I 1 1 1 on for miscellaneous equipment on additional sheets as necessary. 5 ne►- fL-SO )99b 3000P ig 7 nffri axis. 5 � Q i �- • -5! ARXCLES OF ORGANIZATION 1 a OF 9a 1 Q � < N � < Heistand Farm 137 Limited Liability Company 7,1 ARTICLE I ' Name, The name of this limited liability company is Heistand Farm 137 Limited Liability Company(the"Company"). ARTICLE 2 iDuration The Company shall have perpetual existence. ARTICLE 3 Purpose The purposes for which the Company is organized are to undertake any and all lawful ipurposes for which a limited Ii bility company may be organized under the laws of the State of Iowa. ARTICLE 4 Principal Place of Business i The Company s principal place of business is at 1400 Quay Avenue, Woodbine, Iowa 51579. 1 ARTICLE 5 Registered Office and Registered Agent 1 5.1 Office. The initial registered office of the Company is 1400 Quay Avenue, Woodbine,Iowa 51579. i 61244-FORM 0 9420 of this site will provide employment by increasing the demand for personal services and ' employees to provide these services. This development will impact other businesses, as there will be an increase in the demand for employees to fill the employment opportunities created by this development. There will also be competition for renters to fill the new residential units ' being made available. The provision of new housing will increase employment opportunities and other economic opportunities by increasing the demand for goods and services. ' The development will cause an increase in traffic in the area; however, the current street system is able to accommodate the Project. The creation of new housing opportunities, the creation of new employment opportunities, and the increased demand for goods and services justify the cost associated with the Project. The long-term benefits resulting from the increase in the tax base resulting from the development are other valid justifications to provide assistance to the Project. This project will be able to act as a catalyst to spur much needed future development for the area directly west of this project. 1 ent on the third (historic and new entry) level will have a glass curtain wall leading onto a private exterior terrace. I I On the interior, the redevelopment will renovate all office areas (including the third floor) of the building into efficient market-rate multi-family apartments geared toward single Gen-Y tenants. There will be a mix of approximatly 1/4 two-bedroom units to 3/4 one-bedroom units. The style of these II residential units will be clean and efficient, with studios sized at 535 square feet, one bedrooms ranging from 641 to 739 square feet, and two bedrooms ranging in size from 823 to 933 square feet. On the I I tenth floor, which is currently the equipment penthouse and roof,there will be tenant amenities such as a fitness center, a community room for parties of fifty or less, and a deck with sweeping views over Central High School, the Creighton campus and on to the Missouri River. The building will be managed Ifrom The Highline, which is a mere four blocks west on Dodge Street. The two parking levels will have between 80 and 90 stalls. OmahaPark Five, the parking structure directly across Capitol Avenue would II have additional parking spaces for lease to tenants,should they be needed. The north addition/ 'flying saucer' building will also accompany the renovation with six more residential II units and some type of restaurant or night club, adding additional zest and a fresh sense of vibrancy to this somewhat overlooked corner of downtown. II �m a -o .. m m c ........64............... ' oUJ v v v v v v v v v v v v v v v v v v v v v v v v v v l y 4) ... .. . .. ... ... .. . W a) ' '" , 4 v 4 v v v v v v v v v v v v v v v v v v v v v V V toxf0 N f, l N.n n n r r N r N N N N r r N N N N n N n n n n r n v U) , > 1 o 0 69 0969-6 W v,M d)U3WW 09W W W6969696969696969t969W 69(9WW(9 W W W W WN WN W NW NW W W NW NW NW W WN NW NW W W W W W NWW W W W0O000)O0O000O00OOOO0000O000O000 .. I F NNNNNNNNc. N NNNNNNN ' I - E - • H o 3 a, J co L o O o o 0 0 0 0 0 0 0 0 O o o o o o 0 o o o o o o 0 L-. "'d H p O o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0)5 > U N Q .. .. M M M M M M M N) M M M M M M M M M M M M M M M M M M •0 C -2 N CD CD a6 W W W W W W W W W W CD C6 C6 Co ao CO W W W W W W C C N U U la N W W W W W W W W W W W W W W W W W W W W W W W W W W N O L ` N ' a) F N J r r N N N N N n n n n n n n n n r r r n N r r N n n m U '0 a F-> o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 c E N o m2 >' (9 N 4 4(9 6 6,(9 69 69 69(9 69 69 69 t9 69 W(9(9(9(9 69(9(9 69 U9(9(9(9 c O L U I o) F _ E E E 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O 0 y C y U a) C U 8 N > W d 0 Cr_ w L c y 0 n vOi m,- E d m `L = N a)m 16 a) O N E U J N N = N D U W 0 E w �o a m > E m c o 00000000000000000000000000 0 o V o rn o 0 0 0 0 0o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 'o _ _ _ . C a) C ' ' ' ' C)M M M M C'1 M M M M M M M M(h N M M M M M M M M M M G U 'C .O V �a ° W N Co CD CD W C6 a0 C6 W e W C6 W W W CD W CD C6 W CO W W W W N L Y O j N '= al jp W W W W W W W W W W W W W W W W W W W.W W W W W W W •C O O x 0 r n r r r r r r r N N r r r r r r n N r N N N N N r 0 y U C•� U °a° F m 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 'm« C f A Y m > E o 0 > 69(9<9 e9 69 69 69 69t9(969 N N t9(9 w(969N6969N(969(9<969N(96, a) c c m a m m 2 = o O V) ,-U) N O M W v W W N W W r W W W m M O W .-W N W M N v O N C i T E CC O N M v N CO r W m •-0 '-M'-4'- o o.y N A co W • _ .. ___.__-.. .. _ ___ .L._`.��LL_A _ _._... _... _ _ . . U 0 ' F tE t o j c m Q Z (I) 2 CO CO U • U . 5.2 Agent. The name of the initial registered agent of the Company at such address is Todd Heistand. ' ARTICLE 6 Manaacment of the Company The management of the Company shall be vested in one or more Managers, who shall ' hold the offices and have the responsibilities accorded to them by the Members and as set out in the Operating Agreement. The 7me and address of the initial Manager is as follows: ' Todd Heistand 1400 Quay Avenue 'At'oodbine IA 51579 ' Any successor or additional Managers shall be appointed im the manner provided in the Operating Agreement. The undersigned, being!he organizing Member of the Company, hereby adopts and signs the foregoing Articles of Organ}zation for the purpose of forming the Company. Dated this 2nd day of April, 2004. ' Todd Heistand, anager 1 1 ' FILED IOWA SECRETARY OF STATE ICC. v 049421 W378577 2 . II 1 ay Avenue, Woodbine,Iowa 51579. i 61244-FORM 0 9420 of this site will provide employment by increasing the demand for personal services and ' employees to provide these services. This development will impact other businesses, as there will be an increase in the demand for employees to fill the employment opportunities created by this development. There will also be competition for renters to fill the new residential units ' being made available. The provision of new housing will increase employment opportunities and other economic opportunities by increasing the demand for goods and services. ' The development will cause an increase in traffic in the area; however, the current street system is able to accommodate the Project. The creation of new housing opportunities, the creation of new employment opportunities, and the increased demand for goods and services justify the cost associated with the Project. The long-term benefits resulting from the increase in the tax base resulting from the development are other valid justifications to provide assistance to the Project. This project will be able to act as a catalyst to spur much needed future development for the area directly west of this project. 1 ent on the third (historic and new entry) level will have a glass curtain wall leading onto a private exterior terrace. I I On the interior, the redevelopment will renovate all office areas (including the third floor) of the building into efficient market-rate multi-family apartments geared toward single Gen-Y tenants. There will be a mix of approximatly 1/4 two-bedroom units to 3/4 one-bedroom units. The style of these II residential units will be clean and efficient, with studios sized at 535 square feet, one bedrooms ranging from 641 to 739 square feet, and two bedrooms ranging in size from 823 to 933 square feet. On the I I tenth floor, which is currently the equipment penthouse and roof,there will be tenant amenities such as a fitness center, a community room for parties of fifty or less, and a deck with sweeping views over Central High School, the Creighton campus and on to the Missouri River. The building will be managed Ifrom The Highline, which is a mere four blocks west on Dodge Street. The two parking levels will have between 80 and 90 stalls. OmahaPark Five, the parking structure directly across Capitol Avenue would II have additional parking spaces for lease to tenants,should they be needed. The north addition/ 'flying saucer' building will also accompany the renovation with six more residential II units and some type of restaurant or night club, adding additional zest and a fresh sense of vibrancy to this somewhat overlooked corner of downtown. II �m a -o .. m m c ........64............... ' oUJ v v v v v v v v v v v v v v v v v v v v v v v v v v l y 4) ... .. . .. ... ... .. . W a) ' '" , 4 v 4 v v v v v v v v v v v v v v v v v v v v v V V toxf0 N f, l N.n n n r r N r N N N N r r N N N N n N n n n n r n v U) , > 1 o 0 69 0969-6 W v,M d)U3WW 09W W W6969696969696969t969W 69(9WW(9 W W W W WN WN W NW NW W W NW NW NW W WN NW NW W W W W W NWW W W W0O000)O0O000O00OOOO0000O000O000 .. I F NNNNNNNNc. N NNNNNNN ' I - E - • H o 3 a, J co L o O o o 0 0 0 0 0 0 0 0 O o o o o o 0 o o o o o o 0 L-. "'d H p O o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0)5 > U N Q .. .. M M M M M M M N) M M M M M M M M M M M M M M M M M M •0 C -2 N CD CD a6 W W W W W W W W W W CD C6 C6 Co ao CO W W W W W W C C N U U la N W W W W W W W W W W W W W W W W W W W W W W W W W W N O L ` N ' a) F N J r r N N N N N n n n n n n n n n r r r n N r r N n n m U '0 a F-> o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 c E N o m2 >' (9 N 4 4(9 6 6,(9 69 69 69(9 69 69 69 t9 69 W(9(9(9(9 69(9(9 69 U9(9(9(9 c O L U I o) F _ E E E 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O 0 y C y U a) C U 8 N > W d 0 Cr_ w L c y 0 n vOi m,- E d m `L = N a)m 16 a) O N E U J N N = N D U W 0 E w �o a m > E m c o 00000000000000000000000000 0 o V o rn o 0 0 0 0 0o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 'o _ _ _ . C a) C ' ' ' ' C)M M M M C'1 M M M M M M M M(h N M M M M M M M M M M G U 'C .O V �a ° W N Co CD CD W C6 a0 C6 W e W C6 W W W CD W CD C6 W CO W W W W N L Y O j N '= al jp W W W W W W W W W W W W W W W W W W W.W W W W W W W •C O O x 0 r n r r r r r r r N N r r r r r r n N r N N N N N r 0 y U C•� U °a° F m 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 'm« C f A Y m > E o 0 > 69(9<9 e9 69 69 69 69t9(969 N N t9(9 w(969N6969N(969(9<969N(96, a) c c m a m m 2 = o O V) ,-U) N O M W v W W N W W r W W W m M O W .-W N W M N v O N C i T E CC O N M v N CO r W m •-0 '-M'-4'- o o.y N A co W • _ .. ___.__-.. .. _ ___ .L._`.��LL_A _ _._... _... _ _ . . U 0 ' F tE t o j c m Q Z (I) 2 CO CO U ICertificate of Standing Page 1 of 1 IOWA SECRETARY OF STATE MATT SCHULTZ cos OF Job y °`. is e ssv „A VARY OF CERTIFICATE OF EXISTENCE Certificate Validation The following certificate was issued by the Iowa Secretary of State Certificate ID: CS70024 Validation Date: 8/3/2012 Date: 8/3/2012 Name: HEISTAND FARM 137 LIMITED LIABILITY COMPANY(489DLC -292730) Date of Incorporation: 4/5/2004 Duration: PERPETUAL I, Matt Schultz, Secretary of State of the State of Iowa, custodian of the records of incorporations, certify the following for the limited liability company named on this certificate: a. The entity is in existence and duly incorporated under the laws of Iowa. b. All fees, taxes and penalties equired under the Revised Uniform Limited Liability Company Act ' and other laws due the Secre ry of State have been paid. c. The most recent biennial report required has been filed with the Secretary of State. d. The Secretary of State has nod administratively dissolved the limited liability company. e. The Secretary of State has no filed either a statement of dissolution or statement of termination. 1 • Matt Schultz, Iowa Secretary of State e these services. This development will impact other businesses, as there will be an increase in the demand for employees to fill the employment opportunities created by this development. There will also be competition for renters to fill the new residential units ' being made available. The provision of new housing will increase employment opportunities and other economic opportunities by increasing the demand for goods and services. ' The development will cause an increase in traffic in the area; however, the current street system is able to accommodate the Project. The creation of new housing opportunities, the creation of new employment opportunities, and the increased demand for goods and services justify the cost associated with the Project. The long-term benefits resulting from the increase in the tax base resulting from the development are other valid justifications to provide assistance to the Project. This project will be able to act as a catalyst to spur much needed future development for the area directly west of this project. 1 ent on the third (historic and new entry) level will have a glass curtain wall leading onto a private exterior terrace. I I On the interior, the redevelopment will renovate all office areas (including the third floor) of the building into efficient market-rate multi-family apartments geared toward single Gen-Y tenants. There will be a mix of approximatly 1/4 two-bedroom units to 3/4 one-bedroom units. The style of these II residential units will be clean and efficient, with studios sized at 535 square feet, one bedrooms ranging from 641 to 739 square feet, and two bedrooms ranging in size from 823 to 933 square feet. On the I I tenth floor, which is currently the equipment penthouse and roof,there will be tenant amenities such as a fitness center, a community room for parties of fifty or less, and a deck with sweeping views over Central High School, the Creighton campus and on to the Missouri River. The building will be managed Ifrom The Highline, which is a mere four blocks west on Dodge Street. The two parking levels will have between 80 and 90 stalls. OmahaPark Five, the parking structure directly across Capitol Avenue would II have additional parking spaces for lease to tenants,should they be needed. The north addition/ 'flying saucer' building will also accompany the renovation with six more residential II units and some type of restaurant or night club, adding additional zest and a fresh sense of vibrancy to this somewhat overlooked corner of downtown. II �m a -o .. m m c ........64............... ' oUJ v v v v v v v v v v v v v v v v v v v v v v v v v v l y 4) ... .. . .. ... ... .. . W a) ' '" , 4 v 4 v v v v v v v v v v v v v v v v v v v v v V V toxf0 N f, l N.n n n r r N r N N N N r r N N N N n N n n n n r n v U) , > 1 o 0 69 0969-6 W v,M d)U3WW 09W W W6969696969696969t969W 69(9WW(9 W W W W WN WN W NW NW W W NW NW NW W WN NW NW W W W W W NWW W W W0O000)O0O000O00OOOO0000O000O000 .. I F NNNNNNNNc. N NNNNNNN ' I - E - • H o 3 a, J co L o O o o 0 0 0 0 0 0 0 0 O o o o o o 0 o o o o o o 0 L-. "'d H p O o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0)5 > U N Q .. .. M M M M M M M N) M M M M M M M M M M M M M M M M M M •0 C -2 N CD CD a6 W W W W W W W W W W CD C6 C6 Co ao CO W W W W W W C C N U U la N W W W W W W W W W W W W W W W W W W W W W W W W W W N O L ` N ' a) F N J r r N N N N N n n n n n n n n n r r r n N r r N n n m U '0 a F-> o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 c E N o m2 >' (9 N 4 4(9 6 6,(9 69 69 69(9 69 69 69 t9 69 W(9(9(9(9 69(9(9 69 U9(9(9(9 c O L U I o) F _ E E E 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O 0 y C y U a) C U 8 N > W d 0 Cr_ w L c y 0 n vOi m,- E d m `L = N a)m 16 a) O N E U J N N = N D U W 0 E w �o a m > E m c o 00000000000000000000000000 0 o V o rn o 0 0 0 0 0o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 'o _ _ _ . C a) C ' ' ' ' C)M M M M C'1 M M M M M M M M(h N M M M M M M M M M M G U 'C .O V �a ° W N Co CD CD W C6 a0 C6 W e W C6 W W W CD W CD C6 W CO W W W W N L Y O j N '= al jp W W W W W W W W W W W W W W W W W W W.W W W W W W W •C O O x 0 r n r r r r r r r N N r r r r r r n N r N N N N N r 0 y U C•� U °a° F m 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 'm« C f A Y m > E o 0 > 69(9<9 e9 69 69 69 69t9(969 N N t9(9 w(969N6969N(969(9<969N(96, a) c c m a m m 2 = o O V) ,-U) N O M W v W W N W W r W W W m M O W .-W N W M N v O N C i T E CC O N M v N CO r W m •-0 '-M'-4'- o o.y N A co W • _ .. ___.__-.. .. _ ___ .L._`.��LL_A _ _._... _... _ _ . . U 0 ' F tE t o j c m Q Z (I) 2 CO CO U •� C A Chairperson �► • Board of Commissioners Douglas County LC2 Civic Center 1819 Farnam Street Omaha, NE 68183-0001 • • • • Chairperson • Omaha Public Schools • 3215 Cuming Street • Omaha, NE 68131 . Chairperson Board of Governors Metropolitan Community College 3000 Fort Street Omaha, NE 68111 • Chairperson . . Board of Directors Papio Natural Resources District 8901 South 154'h Street Omaha, NE 68138 • President • • Educational Services Unit 1 • 3215 Cuming Street Omaha, NE 68131 • Chairperson • Metropolitan Utilities District • 1723 Harney Street Omaha, NE 68102 • • Chairperson • Metro Area Transit Authority 2222 Cuming Street • Omaha, NE 68102 Chairperson Omaha/Douglas Public Building Commission MAILING LIST RECEIVED • /D •-LO -/ RECEIVED BY �' - 4-et4 • ING MADE el • DATE MAILED // / —/dz 1 • Matt Schultz, Iowa Secretary of State e these services. This development will impact other businesses, as there will be an increase in the demand for employees to fill the employment opportunities created by this development. There will also be competition for renters to fill the new residential units ' being made available. The provision of new housing will increase employment opportunities and other economic opportunities by increasing the demand for goods and services. ' The development will cause an increase in traffic in the area; however, the current street system is able to accommodate the Project. The creation of new housing opportunities, the creation of new employment opportunities, and the increased demand for goods and services justify the cost associated with the Project. The long-term benefits resulting from the increase in the tax base resulting from the development are other valid justifications to provide assistance to the Project. This project will be able to act as a catalyst to spur much needed future development for the area directly west of this project. 1 ent on the third (historic and new entry) level will have a glass curtain wall leading onto a private exterior terrace. I I On the interior, the redevelopment will renovate all office areas (including the third floor) of the building into efficient market-rate multi-family apartments geared toward single Gen-Y tenants. There will be a mix of approximatly 1/4 two-bedroom units to 3/4 one-bedroom units. The style of these II residential units will be clean and efficient, with studios sized at 535 square feet, one bedrooms ranging from 641 to 739 square feet, and two bedrooms ranging in size from 823 to 933 square feet. On the I I tenth floor, which is currently the equipment penthouse and roof,there will be tenant amenities such as a fitness center, a community room for parties of fifty or less, and a deck with sweeping views over Central High School, the Creighton campus and on to the Missouri River. The building will be managed Ifrom The Highline, which is a mere four blocks west on Dodge Street. The two parking levels will have between 80 and 90 stalls. OmahaPark Five, the parking structure directly across Capitol Avenue would II have additional parking spaces for lease to tenants,should they be needed. The north addition/ 'flying saucer' building will also accompany the renovation with six more residential II units and some type of restaurant or night club, adding additional zest and a fresh sense of vibrancy to this somewhat overlooked corner of downtown. II �m a -o .. m m c ........64............... ' oUJ v v v v v v v v v v v v v v v v v v v v v v v v v v l y 4) ... .. . .. ... ... .. . W a) ' '" , 4 v 4 v v v v v v v v v v v v v v v v v v v v v V V toxf0 N f, l N.n n n r r N r N N N N r r N N N N n N n n n n r n v U) , > 1 o 0 69 0969-6 W v,M d)U3WW 09W W W6969696969696969t969W 69(9WW(9 W W W W WN WN W NW NW W W NW NW NW W WN NW NW W W W W W NWW W W W0O000)O0O000O00OOOO0000O000O000 .. I F NNNNNNNNc. N NNNNNNN ' I - E - • H o 3 a, J co L o O o o 0 0 0 0 0 0 0 0 O o o o o o 0 o o o o o o 0 L-. "'d H p O o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0)5 > U N Q .. .. M M M M M M M N) M M M M M M M M M M M M M M M M M M •0 C -2 N CD CD a6 W W W W W W W W W W CD C6 C6 Co ao CO W W W W W W C C N U U la N W W W W W W W W W W W W W W W W W W W W W W W W W W N O L ` N ' a) F N J r r N N N N N n n n n n n n n n r r r n N r r N n n m U '0 a F-> o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 c E N o m2 >' (9 N 4 4(9 6 6,(9 69 69 69(9 69 69 69 t9 69 W(9(9(9(9 69(9(9 69 U9(9(9(9 c O L U I o) F _ E E E 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O 0 y C y U a) C U 8 N > W d 0 Cr_ w L c y 0 n vOi m,- E d m `L = N a)m 16 a) O N E U J N N = N D U W 0 E w �o a m > E m c o 00000000000000000000000000 0 o V o rn o 0 0 0 0 0o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 'o _ _ _ . C a) C ' ' ' ' C)M M M M C'1 M M M M M M M M(h N M M M M M M M M M M G U 'C .O V �a ° W N Co CD CD W C6 a0 C6 W e W C6 W W W CD W CD C6 W CO W W W W N L Y O j N '= al jp W W W W W W W W W W W W W W W W W W W.W W W W W W W •C O O x 0 r n r r r r r r r N N r r r r r r n N r N N N N N r 0 y U C•� U °a° F m 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 'm« C f A Y m > E o 0 > 69(9<9 e9 69 69 69 69t9(969 N N t9(9 w(969N6969N(969(9<969N(96, a) c c m a m m 2 = o O V) ,-U) N O M W v W W N W W r W W W m M O W .-W N W M N v O N C i T E CC O N M v N CO r W m •-0 '-M'-4'- o o.y N A co W • _ .. ___.__-.. .. _ ___ .L._`.��LL_A _ _._... _... _ _ . . U 0 ' F tE t o j c m Q Z (I) 2 CO CO U OMAH"' NF City ofOmaha, fAre6raskg `� ��I *C„, • ,Ai'Vrzor*."1--%4rii 1819 Farnam--Suite LC 1 n®r r Omaha, Nebraska 68183-0112 0 '`?_=1- ,• Buster Brown (402) 444-5550 �A tv City Clerk FAX (402) 444-5263 o4) FEBRI "NOTICE TO TAXING AUTHORITY" Notice is hereby given that the Omaha City Council has set Tuesday, November 20, 2012 at 2:00 p.m. as the date of Public Hearing on the Slate Tax Increment Financing Redevelopment Project Plan. The Slate Tax Increment Financing Redevelopment Project Plan is located at 1815 Capitol Avenue and 1818 Dodge Street. This project is an adaptive reuse and retrofitting of the 7-story Capitol Plaza Building (1815 Capitol Avenue) and the 1-story, "circular" shaped building, directly adjacent to the south (1818 Dodge Street). The Slate project proposes converting the office structure of the Capitol Plaza Building and adjacent structure to the south into a mix of 116 market-rate apartment units — one and two bedrooms, and a commercial space at the corner of 19th and Dodge Streets. Tax Increment Financing in an amount up to $2,250,000.00 will be used to offset the costs of acquisition, rehabilitation costs, site work, architectural and engineering, surveys and environmental and any public improvement, which also includes $20,000.00 of the TIF allocation toward the Downtown Public Improvement Fund. The estimated total project cost is $13,886,500.00. A copy of said plan is available for public inspection in the City Clerk's Office. Public Hearing will be held before the City Council of the City of Omaha, in the Legislative Chambers, Omaha/Douglas Civic Center, 1819 Farnam Street, Omaha, Nebraska. Buster Brown City Clerk crease in traffic in the area; however, the current street system is able to accommodate the Project. The creation of new housing opportunities, the creation of new employment opportunities, and the increased demand for goods and services justify the cost associated with the Project. The long-term benefits resulting from the increase in the tax base resulting from the development are other valid justifications to provide assistance to the Project. This project will be able to act as a catalyst to spur much needed future development for the area directly west of this project. 1 ent on the third (historic and new entry) level will have a glass curtain wall leading onto a private exterior terrace. I I On the interior, the redevelopment will renovate all office areas (including the third floor) of the building into efficient market-rate multi-family apartments geared toward single Gen-Y tenants. There will be a mix of approximatly 1/4 two-bedroom units to 3/4 one-bedroom units. The style of these II residential units will be clean and efficient, with studios sized at 535 square feet, one bedrooms ranging from 641 to 739 square feet, and two bedrooms ranging in size from 823 to 933 square feet. On the I I tenth floor, which is currently the equipment penthouse and roof,there will be tenant amenities such as a fitness center, a community room for parties of fifty or less, and a deck with sweeping views over Central High School, the Creighton campus and on to the Missouri River. The building will be managed Ifrom The Highline, which is a mere four blocks west on Dodge Street. The two parking levels will have between 80 and 90 stalls. OmahaPark Five, the parking structure directly across Capitol Avenue would II have additional parking spaces for lease to tenants,should they be needed. The north addition/ 'flying saucer' building will also accompany the renovation with six more residential II units and some type of restaurant or night club, adding additional zest and a fresh sense of vibrancy to this somewhat overlooked corner of downtown. II �m a -o .. m m c ........64............... ' oUJ v v v v v v v v v v v v v v v v v v v v v v v v v v l y 4) ... .. . .. ... ... .. . W a) ' '" , 4 v 4 v v v v v v v v v v v v v v v v v v v v v V V toxf0 N f, l N.n n n r r N r N N N N r r N N N N n N n n n n r n v U) , > 1 o 0 69 0969-6 W v,M d)U3WW 09W W W6969696969696969t969W 69(9WW(9 W W W W WN WN W NW NW W W NW NW NW W WN NW NW W W W W W NWW W W W0O000)O0O000O00OOOO0000O000O000 .. I F NNNNNNNNc. N NNNNNNN ' I - E - • H o 3 a, J co L o O o o 0 0 0 0 0 0 0 0 O o o o o o 0 o o o o o o 0 L-. "'d H p O o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0)5 > U N Q .. .. M M M M M M M N) M M M M M M M M M M M M M M M M M M •0 C -2 N CD CD a6 W W W W W W W W W W CD C6 C6 Co ao CO W W W W W W C C N U U la N W W W W W W W W W W W W W W W W W W W W W W W W W W N O L ` N ' a) F N J r r N N N N N n n n n n n n n n r r r n N r r N n n m U '0 a F-> o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 c E N o m2 >' (9 N 4 4(9 6 6,(9 69 69 69(9 69 69 69 t9 69 W(9(9(9(9 69(9(9 69 U9(9(9(9 c O L U I o) F _ E E E 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O 0 y C y U a) C U 8 N > W d 0 Cr_ w L c y 0 n vOi m,- E d m `L = N a)m 16 a) O N E U J N N = N D U W 0 E w �o a m > E m c o 00000000000000000000000000 0 o V o rn o 0 0 0 0 0o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 'o _ _ _ . C a) C ' ' ' ' C)M M M M C'1 M M M M M M M M(h N M M M M M M M M M M G U 'C .O V �a ° W N Co CD CD W C6 a0 C6 W e W C6 W W W CD W CD C6 W CO W W W W N L Y O j N '= al jp W W W W W W W W W W W W W W W W W W W.W W W W W W W •C O O x 0 r n r r r r r r r N N r r r r r r n N r N N N N N r 0 y U C•� U °a° F m 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 'm« C f A Y m > E o 0 > 69(9<9 e9 69 69 69 69t9(969 N N t9(9 w(969N6969N(969(9<969N(96, a) c c m a m m 2 = o O V) ,-U) N O M W v W W N W W r W W W m M O W .-W N W M N v O N C i T E CC O N M v N CO r W m •-0 '-M'-4'- o o.y N A co W • _ .. ___.__-.. .. _ ___ .L._`.��LL_A _ _._... _... _ _ . . U 0 ' F tE t o j c m Q Z (I) 2 CO CO U a tit 12 CASE: C3-12-206 APPLICANT: Planning Department on behalf of the City of Omaha REQUEST: The Slate TIF Redevelopment Project Plan at 1815 Capitol Avenue & 1818 Dodge Street LOCATION: 1815 Capitol Avenue & 1818 Dodge Street SUBJECT AREA IS SHADED - OCTOBER 2012 . • • ■ ■ ¢O-ACI-1(P BD CI-1(PL) 90-ACI-1(P CBD- I-1(P ) • ■• o `� CBD-ACI-1(PL) Davenport-St- . . . 4 : o-ACI- ) CBD-ACI-1(PL) Capitol BD-ACI-1(P ) • ) t ) Dodge St CBD-ACi-1(PL) C D-ACI-1( '' ) • D-ACI-1(PL) : BD- , CI-1(PL) . D.Ac: CAD-ACI-1(P ) • • • • � CBD-ACI-1 (PL) D-ACI-1(PL) BD- CI-1(PL) Douglas-St (45 CBD-ACI- L) CBD-ACI-1(PL) = D-ACI ' L) C = D-ACI-1(P ) Nil B - CI-1(PL) 0 800 ���«� Feet ement Financing in an amount up to $2,250,000.00 will be used to offset the costs of acquisition, rehabilitation costs, site work, architectural and engineering, surveys and environmental and any public improvement, which also includes $20,000.00 of the TIF allocation toward the Downtown Public Improvement Fund. The estimated total project cost is $13,886,500.00. A copy of said plan is available for public inspection in the City Clerk's Office. Public Hearing will be held before the City Council of the City of Omaha, in the Legislative Chambers, Omaha/Douglas Civic Center, 1819 Farnam Street, Omaha, Nebraska. Buster Brown City Clerk crease in traffic in the area; however, the current street system is able to accommodate the Project. The creation of new housing opportunities, the creation of new employment opportunities, and the increased demand for goods and services justify the cost associated with the Project. The long-term benefits resulting from the increase in the tax base resulting from the development are other valid justifications to provide assistance to the Project. This project will be able to act as a catalyst to spur much needed future development for the area directly west of this project. 1 ent on the third (historic and new entry) level will have a glass curtain wall leading onto a private exterior terrace. I I On the interior, the redevelopment will renovate all office areas (including the third floor) of the building into efficient market-rate multi-family apartments geared toward single Gen-Y tenants. There will be a mix of approximatly 1/4 two-bedroom units to 3/4 one-bedroom units. The style of these II residential units will be clean and efficient, with studios sized at 535 square feet, one bedrooms ranging from 641 to 739 square feet, and two bedrooms ranging in size from 823 to 933 square feet. On the I I tenth floor, which is currently the equipment penthouse and roof,there will be tenant amenities such as a fitness center, a community room for parties of fifty or less, and a deck with sweeping views over Central High School, the Creighton campus and on to the Missouri River. The building will be managed Ifrom The Highline, which is a mere four blocks west on Dodge Street. The two parking levels will have between 80 and 90 stalls. OmahaPark Five, the parking structure directly across Capitol Avenue would II have additional parking spaces for lease to tenants,should they be needed. The north addition/ 'flying saucer' building will also accompany the renovation with six more residential II units and some type of restaurant or night club, adding additional zest and a fresh sense of vibrancy to this somewhat overlooked corner of downtown. II �m a -o .. m m c ........64............... ' oUJ v v v v v v v v v v v v v v v v v v v v v v v v v v l y 4) ... .. . .. ... ... .. . W a) ' '" , 4 v 4 v v v v v v v v v v v v v v v v v v v v v V V toxf0 N f, l N.n n n r r N r N N N N r r N N N N n N n n n n r n v U) , > 1 o 0 69 0969-6 W v,M d)U3WW 09W W W6969696969696969t969W 69(9WW(9 W W W W WN WN W NW NW W W NW NW NW W WN NW NW W W W W W NWW W W W0O000)O0O000O00OOOO0000O000O000 .. I F NNNNNNNNc. N NNNNNNN ' I - E - • H o 3 a, J co L o O o o 0 0 0 0 0 0 0 0 O o o o o o 0 o o o o o o 0 L-. "'d H p O o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0)5 > U N Q .. .. M M M M M M M N) M M M M M M M M M M M M M M M M M M •0 C -2 N CD CD a6 W W W W W W W W W W CD C6 C6 Co ao CO W W W W W W C C N U U la N W W W W W W W W W W W W W W W W W W W W W W W W W W N O L ` N ' a) F N J r r N N N N N n n n n n n n n n r r r n N r r N n n m U '0 a F-> o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 c E N o m2 >' (9 N 4 4(9 6 6,(9 69 69 69(9 69 69 69 t9 69 W(9(9(9(9 69(9(9 69 U9(9(9(9 c O L U I o) F _ E E E 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O 0 y C y U a) C U 8 N > W d 0 Cr_ w L c y 0 n vOi m,- E d m `L = N a)m 16 a) O N E U J N N = N D U W 0 E w �o a m > E m c o 00000000000000000000000000 0 o V o rn o 0 0 0 0 0o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 'o _ _ _ . C a) C ' ' ' ' C)M M M M C'1 M M M M M M M M(h N M M M M M M M M M M G U 'C .O V �a ° W N Co CD CD W C6 a0 C6 W e W C6 W W W CD W CD C6 W CO W W W W N L Y O j N '= al jp W W W W W W W W W W W W W W W W W W W.W W W W W W W •C O O x 0 r n r r r r r r r N N r r r r r r n N r N N N N N r 0 y U C•� U °a° F m 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 'm« C f A Y m > E o 0 > 69(9<9 e9 69 69 69 69t9(969 N N t9(9 w(969N6969N(969(9<969N(96, a) c c m a m m 2 = o O V) ,-U) N O M W v W W N W W r W W W m M O W .-W N W M N v O N C i T E CC O N M v N CO r W m •-0 '-M'-4'- o o.y N A co W • _ .. ___.__-.. .. _ ___ .L._`.��LL_A _ _._... _... _ _ . . U 0 ' F tE t o j c m Q Z (I) 2 CO CO U 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 1815 Capitol Avenue & 1818 Dodge Street 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 Slate Tax Increment Financing (TIF) Redevelopment Project Plan was approved by the TIF Committee and by the City of Omaha Planning Board at their October 3,2012 meeting; and, WHEREAS, the project site for the Slate Tax Increment Financing (TIF) Redevelopment Project Plan is located at 1815 Capitol Avenue & 1818 Dodge Street and is legally described in Exhibit "A" which is attached hereto and herein incorporated by reference; and, WHEREAS, the Slate Tax Increment Financing (TIF) Redevelopment Project Plan contemplates the adaptive reuse and retrofitting of the 7-story Capitol Plaza Building (1815 Capitol Avenue) and the 1-story, "circular" shaped building, directly adjacent to the south (1818 Dodge Street) into a mix of 116 market-rate apartment units — one and two bedrooms, and a commercial space as described in Exhibit "B" attached hereto and herein incorporated by reference; and, WHEREAS, this Resolution seeks the approval of the Slate Tax Increment Financing (TIF) Redevelopment Project Plan, which recommends the City's participation through the allocation of TIF in an amount up to $2,250,000.00 to offset costs of acquisition, rehabilitation costs, site work, architectural and engineering, surveys and environmental and any public improvements, which also includes $20,000.00 of the TIF allocation toward the Downtown Public Improvement Fund; the estimated total project cost is $13,886,500.00; 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 Councilmember Adopted City Clerk Approved Mayor ents geared toward single Gen-Y tenants. There will be a mix of approximatly 1/4 two-bedroom units to 3/4 one-bedroom units. The style of these II residential units will be clean and efficient, with studios sized at 535 square feet, one bedrooms ranging from 641 to 739 square feet, and two bedrooms ranging in size from 823 to 933 square feet. On the I I tenth floor, which is currently the equipment penthouse and roof,there will be tenant amenities such as a fitness center, a community room for parties of fifty or less, and a deck with sweeping views over Central High School, the Creighton campus and on to the Missouri River. The building will be managed Ifrom The Highline, which is a mere four blocks west on Dodge Street. The two parking levels will have between 80 and 90 stalls. OmahaPark Five, the parking structure directly across Capitol Avenue would II have additional parking spaces for lease to tenants,should they be needed. The north addition/ 'flying saucer' building will also accompany the renovation with six more residential II units and some type of restaurant or night club, adding additional zest and a fresh sense of vibrancy to this somewhat overlooked corner of downtown. II �m a -o .. m m c ........64............... ' oUJ v v v v v v v v v v v v v v v v v v v v v v v v v v l y 4) ... .. . .. ... ... .. . W a) ' '" , 4 v 4 v v v v v v v v v v v v v v v v v v v v v V V toxf0 N f, l N.n n n r r N r N N N N r r N N N N n N n n n n r n v U) , > 1 o 0 69 0969-6 W v,M d)U3WW 09W W W6969696969696969t969W 69(9WW(9 W W W W WN WN W NW NW W W NW NW NW W WN NW NW W W W W W NWW W W W0O000)O0O000O00OOOO0000O000O000 .. I F NNNNNNNNc. N NNNNNNN ' I - E - • H o 3 a, J co L o O o o 0 0 0 0 0 0 0 0 O o o o o o 0 o o o o o o 0 L-. "'d H p O o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0)5 > U N Q .. .. M M M M M M M N) M M M M M M M M M M M M M M M M M M •0 C -2 N CD CD a6 W W W W W W W W W W CD C6 C6 Co ao CO W W W W W W C C N U U la N W W W W W W W W W W W W W W W W W W W W W W W W W W N O L ` N ' a) F N J r r N N N N N n n n n n n n n n r r r n N r r N n n m U '0 a F-> o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 c E N o m2 >' (9 N 4 4(9 6 6,(9 69 69 69(9 69 69 69 t9 69 W(9(9(9(9 69(9(9 69 U9(9(9(9 c O L U I o) F _ E E E 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O 0 y C y U a) C U 8 N > W d 0 Cr_ w L c y 0 n vOi m,- E d m `L = N a)m 16 a) O N E U J N N = N D U W 0 E w �o a m > E m c o 00000000000000000000000000 0 o V o rn o 0 0 0 0 0o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 'o _ _ _ . C a) C ' ' ' ' C)M M M M C'1 M M M M M M M M(h N M M M M M M M M M M G U 'C .O V �a ° W N Co CD CD W C6 a0 C6 W e W C6 W W W CD W CD C6 W CO W W W W N L Y O j N '= al jp W W W W W W W W W W W W W W W W W W W.W W W W W W W •C O O x 0 r n r r r r r r r N N r r r r r r n N r N N N N N r 0 y U C•� U °a° F m 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 'm« C f A Y m > E o 0 > 69(9<9 e9 69 69 69 69t9(969 N N t9(9 w(969N6969N(969(9<969N(96, a) c c m a m m 2 = o O V) ,-U) N O M W v W W N W W r W W W m M O W .-W N W M N v O N C i T E CC O N M v N CO r W m •-0 '-M'-4'- o o.y N A co W • _ .. ___.__-.. .. _ ___ .L._`.��LL_A _ _._... _... _ _ . . U 0 ' F tE t o j c m Q Z (I) 2 CO CO U C-25A CITY OF OMAHA LEGISLATIVE CHAMBER • Omaha,Nebraska Page 2 • WHEREAS, Section 18-2108 of the Nebraska Revised Statutes requires•tie City: of Omaha to adopt a redevelopment plan before taking an active part in a redevelopment•fproject; 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 the Slate Tax Increment Financing (TIF) Redevelopment Project Plan for the redevelopment project site located at 1815 Capitol Avenue & 1.818 Dodge Street which contemplates the adaptive reuse and retrofitting of the 7-story Capitol Plaza Building (1815 Capitol Avenue) and the 1-story, "circular" shaped building, directly adjacent to the south (1818 Dodge Street) into a mix of 116 market-rate apartment units — one and two bedrooms, and a commercial space, recommending the City's participation through the allocation of Tax Increment Financing in an amount up to $2,250,000.00 to offset costs of acquisition, rehabilitation costs, site work, architectural and engineering, surveys and environmental and any public improvements, which also includes $20,000.00 of the TIF allocation toward the Downtown Public Improvement Fund, 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: . IPlI/v ASSISTANT CITY ATTORNEY DATE I769-dlh • 20772a4 Bye u cilmember Adopted NOV .2 O. 2011 •7 :Q .,® Ci IV Clerk Approved ; /0 /./..:o?,l.4/ Mayor t up to $2,250,000.00 to offset costs of acquisition, rehabilitation costs, site work, architectural and engineering, surveys and environmental and any public improvements, which also includes $20,000.00 of the TIF allocation toward the Downtown Public Improvement Fund; the estimated total project cost is $13,886,500.00; 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 Councilmember Adopted City Clerk Approved Mayor ents geared toward single Gen-Y tenants. There will be a mix of approximatly 1/4 two-bedroom units to 3/4 one-bedroom units. The style of these II residential units will be clean and efficient, with studios sized at 535 square feet, one bedrooms ranging from 641 to 739 square feet, and two bedrooms ranging in size from 823 to 933 square feet. On the I I tenth floor, which is currently the equipment penthouse and roof,there will be tenant amenities such as a fitness center, a community room for parties of fifty or less, and a deck with sweeping views over Central High School, the Creighton campus and on to the Missouri River. The building will be managed Ifrom The Highline, which is a mere four blocks west on Dodge Street. The two parking levels will have between 80 and 90 stalls. OmahaPark Five, the parking structure directly across Capitol Avenue would II have additional parking spaces for lease to tenants,should they be needed. The north addition/ 'flying saucer' building will also accompany the renovation with six more residential II units and some type of restaurant or night club, adding additional zest and a fresh sense of vibrancy to this somewhat overlooked corner of downtown. II �m a -o .. m m c ........64............... ' oUJ v v v v v v v v v v v v v v v v v v v v v v v v v v l y 4) ... .. . .. ... ... .. . W a) ' '" , 4 v 4 v v v v v v v v v v v v v v v v v v v v v V V toxf0 N f, l N.n n n r r N r N N N N r r N N N N n N n n n n r n v U) , > 1 o 0 69 0969-6 W v,M d)U3WW 09W W W6969696969696969t969W 69(9WW(9 W W W W WN WN W NW NW W W NW NW NW W WN NW NW W W W W W NWW W W W0O000)O0O000O00OOOO0000O000O000 .. I F NNNNNNNNc. N NNNNNNN ' I - E - • H o 3 a, J co L o O o o 0 0 0 0 0 0 0 0 O o o o o o 0 o o o o o o 0 L-. "'d H p O o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0)5 > U N Q .. .. M M M M M M M N) M M M M M M M M M M M M M M M M M M •0 C -2 N CD CD a6 W W W W W W W W W W CD C6 C6 Co ao CO W W W W W W C C N U U la N W W W W W W W W W W W W W W W W W W W W W W W W W W N O L ` N ' a) F N J r r N N N N N n n n n n n n n n r r r n N r r N n n m U '0 a F-> o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 c E N o m2 >' (9 N 4 4(9 6 6,(9 69 69 69(9 69 69 69 t9 69 W(9(9(9(9 69(9(9 69 U9(9(9(9 c O L U I o) F _ E E E 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O 0 y C y U a) C U 8 N > W d 0 Cr_ w L c y 0 n vOi m,- E d m `L = N a)m 16 a) O N E U J N N = N D U W 0 E w �o a m > E m c o 00000000000000000000000000 0 o V o rn o 0 0 0 0 0o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 'o _ _ _ . C a) C ' ' ' ' C)M M M M C'1 M M M M M M M M(h N M M M M M M M M M M G U 'C .O V �a ° W N Co CD CD W C6 a0 C6 W e W C6 W W W CD W CD C6 W CO W W W W N L Y O j N '= al jp W W W W W W W W W W W W W W W W W W W.W W W W W W W •C O O x 0 r n r r r r r r r N N r r r r r r n N r N N N N N r 0 y U C•� U °a° F m 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 'm« C f A Y m > E o 0 > 69(9<9 e9 69 69 69 69t9(969 N N t9(9 w(969N6969N(969(9<969N(96, a) c c m a m m 2 = o O V) ,-U) N O M W v W W N W W r W W W m M O W .-W N W M N v O N C i T E CC O N M v N CO r W m •-0 '-M'-4'- o o.y N A co W • _ .. ___.__-.. .. _ ___ .L._`.��LL_A _ _._... _... _ _ . . U 0 ' F tE t o j c m Q Z (I) 2 CO CO U CD e N �t CD to r- O UQ Q •U4 F- � �s O _ f�V ` ]>` CY !, 0�04 r+ O `L3 Ur04 O CD � C 0 0 - ' � p 0 �� '' CAD d o) O O �y O-h . cD N`C3 CD O• O R . - (D .� '"d CD p. p N Aa O O Z -CD '� O N 'CS r. -' '-. Oi O.� CCD CCD $ t z E O V'` a. i o ' go o o '.r? O• 15 chi P r* oo ° 0 O 1 -?.4 CD O p 0 O A) O O Lv ¢' to �* • a ;7. + •`�•�;.W -' CCDD Cr4 r O` < to • n n n CCD P N -• N Cm w Z 0 O O O O O cc �' -- O SD 0 .-. CAD O� Q: p A$ CD ^ f,\i Q IV n b A cr4LO "� a Y ~' p� al O 0 O Cr CD CD 0 p ' O ' O 5' p 0 V N \• N Cl) O CAD n• H c' P 5 N Q '-• N n. 00 O CD `CS ( CD nFA Op CAR° O1 n CO CD OS• - UQ C. nn J d cD D • E cn D _O Y 0AO •O0 A A ~ C .--r O PO 2+, C N 00 �. t C OO ca `Q a,go p, ..-r. 'A , • va • `D a • N CCDD ¢ ^` CD CD aL : C C1.0" CD r`S. CD pF CD CD E. 6' e--f n � Cl) O ,—h • . 4 , ‘Ikt I' ,I, Bye u cilmember Adopted NOV .2 O. 2011 •7 :Q .,® Ci IV Clerk Approved ; /0 /./..:o?,l.4/ Mayor t up to $2,250,000.00 to offset costs of acquisition, rehabilitation costs, site work, architectural and engineering, surveys and environmental and any public improvements, which also includes $20,000.00 of the TIF allocation toward the Downtown Public Improvement Fund; the estimated total project cost is $13,886,500.00; 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 Councilmember Adopted City Clerk Approved Mayor ents geared toward single Gen-Y tenants. There will be a mix of approximatly 1/4 two-bedroom units to 3/4 one-bedroom units. The style of these II residential units will be clean and efficient, with studios sized at 535 square feet, one bedrooms ranging from 641 to 739 square feet, and two bedrooms ranging in size from 823 to 933 square feet. On the I I tenth floor, which is currently the equipment penthouse and roof,there will be tenant amenities such as a fitness center, a community room for parties of fifty or less, and a deck with sweeping views over Central High School, the Creighton campus and on to the Missouri River. The building will be managed Ifrom The Highline, which is a mere four blocks west on Dodge Street. The two parking levels will have between 80 and 90 stalls. OmahaPark Five, the parking structure directly across Capitol Avenue would II have additional parking spaces for lease to tenants,should they be needed. The north addition/ 'flying saucer' building will also accompany the renovation with six more residential II units and some type of restaurant or night club, adding additional zest and a fresh sense of vibrancy to this somewhat overlooked corner of downtown. II �m a -o .. m m c ........64............... ' oUJ v v v v v v v v v v v v v v v v v v v v v v v v v v l y 4) ... .. . .. ... ... .. . W a) ' '" , 4 v 4 v v v v v v v v v v v v v v v v v v v v v V V toxf0 N f, l N.n n n r r N r N N N N r r N N N N n N n n n n r n v U) , > 1 o 0 69 0969-6 W v,M d)U3WW 09W W W6969696969696969t969W 69(9WW(9 W W W W WN WN W NW NW W W NW NW NW W WN NW NW W W W W W NWW W W W0O000)O0O000O00OOOO0000O000O000 .. I F NNNNNNNNc. N NNNNNNN ' I - E - • H o 3 a, J co L o O o o 0 0 0 0 0 0 0 0 O o o o o o 0 o o o o o o 0 L-. "'d H p O o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0)5 > U N Q .. .. M M M M M M M N) M M M M M M M M M M M M M M M M M M •0 C -2 N CD CD a6 W W W W W W W W W W CD C6 C6 Co ao CO W W W W W W C C N U U la N W W W W W W W W W W W W W W W W W W W W W W W W W W N O L ` N ' a) F N J r r N N N N N n n n n n n n n n r r r n N r r N n n m U '0 a F-> o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 c E N o m2 >' (9 N 4 4(9 6 6,(9 69 69 69(9 69 69 69 t9 69 W(9(9(9(9 69(9(9 69 U9(9(9(9 c O L U I o) F _ E E E 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O 0 y C y U a) C U 8 N > W d 0 Cr_ w L c y 0 n vOi m,- E d m `L = N a)m 16 a) O N E U J N N = N D U W 0 E w �o a m > E m c o 00000000000000000000000000 0 o V o rn o 0 0 0 0 0o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 'o _ _ _ . C a) C ' ' ' ' C)M M M M C'1 M M M M M M M M(h N M M M M M M M M M M G U 'C .O V �a ° W N Co CD CD W C6 a0 C6 W e W C6 W W W CD W CD C6 W CO W W W W N L Y O j N '= al jp W W W W W W W W W W W W W W W W W W W.W W W W W W W •C O O x 0 r n r r r r r r r N N r r r r r r n N r N N N N N r 0 y U C•� U °a° F m 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 'm« C f A Y m > E o 0 > 69(9<9 e9 69 69 69 69t9(969 N N t9(9 w(969N6969N(969(9<969N(96, a) c c m a m m 2 = o O V) ,-U) N O M W v W W N W W r W W W m M O W .-W N W M N v O N C i T E CC O N M v N CO r W m •-0 '-M'-4'- o o.y N A co W • _ .. ___.__-.. .. _ ___ .L._`.��LL_A _ _._... _... _ _ . . U 0 ' F tE t o j c m Q Z (I) 2 CO CO U • "NOTICE TO PUBLIC" , THE DAILY RECORD NOTICE OF PUBLIC HEARING ON THE SLATE TAX INCREMENT FINANCING 1 OF O,�lV - TT - REDEVELOPMENT PROJECT PLAN � Notice is hereby given that the Omaha City Council has set Tuesday, November , LYNDA K. HENNINGSEN, Publisher 20,2012 at 2:00 p.m.as the date of Public Hearing on the Slate Tax Increment PROOF OF PUBLICATION Financing Redevelopment Project Plan. The Slate Tax Increment Financing Redevelopment Project Plan is located at UNITED STATES OF AMERICA 1815 Capitol Avenue and 1818 Dodge Street , This project is an adaptive reuse and The State of Nebraska, retrofitting of the 7-story Capitol Plaza SS. Building (1815 Capitol Avenue) and the 1- District of Nebraska, story, "circular" shaped building, directly County of Douglas, adjacent to the south (1818 Dodge Street). The Slate project proposes converting the City of Omaha, office structure of the Capitol Plaza Building and adjacent structure to the south into a mix of 116 market-rate apartment units-one J.BOYD and two bedrooms and a commercial space at the corner of 19 and Dodge Streets. Tax being duly sworn,deposes and says that she is Increment Financing in an amount up to $2,250,000.00 will be used to offset the costs LEGAL EDITOR of acquisition, rehabilitation costs, site work, architectural and engineering, surveys and environmental and any public improvement, of THE DAILY RECORD, of Omaha, a legal newspaper, printed and which also includes $20,000.00 of the TIF published daily in the English language, having a bona fide paid allocation toward the Downtown Public Improvement Fund. The estimated _total circulation in Douglas County in excess of 300 copies, printed in project cost is$13,886,500.00. Omaha,in said County of Douglas,for more than fifty-two weeks last A copy of said plan is available for public inspection in the City Clerk's Office. past; that the printed notice hereto attached was published in THE Public Hearing will be held before the City Council of the City of Omaha, Legislative DAILY RECORD,of Omaha,on Chambers, Omaha/Douglas Civic Center, 1819 Farnam Street,Omaha,Nebraska. November 1 and 8, 701 2 BUSTER BROWN, City Clerk ALL REQUESTS FOR SIGN LANGUAGE INTERPRETERS(SIGNERS)WILL REQUIRE A MINIMUM OF 48 HOURS ADVANCE NOTICE. IF ALTERNATIVE FORMATS ARE NEEDED, ALL REQUESTS WILL REQUIRE A MINIMUM That said aper during that time was r: published and OF TICE. PLEASE NOTIFY CINDY2 HOURS ADVANCE OFORD THINNES- in gene �9, • the County of Douglas, ::• ;�• • of Nebraska. 444-5553, IF ARRANGEMENTS NEED TO BE `k -••••.. F MADE Q�:*NI:RAL ,Qf11-1&8-12 I v .� Subscribed in my pIT e,nd sworn t. efore • Y 6 t•.. P lish•r's r.Iv Cji"Is ON me this 8th /da of , COty m y Ad t?orf�l Copies November /20 12 •�of Y 6 �01�6 /NM/ TgTF• OF NE,�P Notary Public•'7 . f.'fr •- ... ty, .Ote . 'Ne.r:. a ch is a mere four blocks west on Dodge Street. The two parking levels will have between 80 and 90 stalls. OmahaPark Five, the parking structure directly across Capitol Avenue would II have additional parking spaces for lease to tenants,should they be needed. The north addition/ 'flying saucer' building will also accompany the renovation with six more residential II units and some type of restaurant or night club, adding additional zest and a fresh sense of vibrancy to this somewhat overlooked corner of downtown. II �m a -o .. m m c ........64............... ' oUJ v v v v v v v v v v v v v v v v v v v v v v v v v v l y 4) ... .. . .. ... ... .. . W a) ' '" , 4 v 4 v v v v v v v v v v v v v v v v v v v v v V V toxf0 N f, l N.n n n r r N r N N N N r r N N N N n N n n n n r n v U) , > 1 o 0 69 0969-6 W v,M d)U3WW 09W W W6969696969696969t969W 69(9WW(9 W W W W WN WN W NW NW W W NW NW NW W WN NW NW W W W W W NWW W W W0O000)O0O000O00OOOO0000O000O000 .. I F NNNNNNNNc. N NNNNNNN ' I - E - • H o 3 a, J co L o O o o 0 0 0 0 0 0 0 0 O o o o o o 0 o o o o o o 0 L-. "'d H p O o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0)5 > U N Q .. .. M M M M M M M N) M M M M M M M M M M M M M M M M M M •0 C -2 N CD CD a6 W W W W W W W W W W CD C6 C6 Co ao CO W W W W W W C C N U U la N W W W W W W W W W W W W W W W W W W W W W W W W W W N O L ` N ' a) F N J r r N N N N N n n n n n n n n n r r r n N r r N n n m U '0 a F-> o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 c E N o m2 >' (9 N 4 4(9 6 6,(9 69 69 69(9 69 69 69 t9 69 W(9(9(9(9 69(9(9 69 U9(9(9(9 c O L U I o) F _ E E E 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O 0 y C y U a) C U 8 N > W d 0 Cr_ w L c y 0 n vOi m,- E d m `L = N a)m 16 a) O N E U J N N = N D U W 0 E w �o a m > E m c o 00000000000000000000000000 0 o V o rn o 0 0 0 0 0o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 'o _ _ _ . C a) C ' ' ' ' C)M M M M C'1 M M M M M M M M(h N M M M M M M M M M M G U 'C .O V �a ° W N Co CD CD W C6 a0 C6 W e W C6 W W W CD W CD C6 W CO W W W W N L Y O j N '= al jp W W W W W W W W W W W W W W W W W W W.W W W W W W W •C O O x 0 r n r r r r r r r N N r r r r r r n N r N N N N N r 0 y U C•� U °a° F m 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 'm« C f A Y m > E o 0 > 69(9<9 e9 69 69 69 69t9(969 N N t9(9 w(969N6969N(969(9<969N(96, a) c c m a m m 2 = o O V) ,-U) N O M W v W W N W W r W W W m M O W .-W N W M N v O N C i T E CC O N M v N CO r W m •-0 '-M'-4'- o o.y N A co W • _ .. ___.__-.. .. _ ___ .L._`.��LL_A _ _._... _... _ _ . . U 0 ' F tE t o j c m Q Z (I) 2 CO CO U Place Ad Here Proof of publication NOTICE TO PUBLIC 1 NOTICE OF PUBLIC HEARING ON THE SLATE TAX INCREMENT FINANCING REDEVELOPMENT PROJECT PLAN AFFIDAVIT Notice is hereby given that the Omaha City Council has set Tuesday,November 20,2012 at 2:00 as the date iofn PublicedevHearing on the State of Nebraska, County of Douglas, ss: Slate Tax Increment Financing Redevelopment Project Plan. The Slate Tax Increment Financing Redevelop- ment Project Plan is located at 1815 Capitol KileyPetersen,beingdulysworn, deposes and says that he/she is an employee of Avenue and 1818 Dodge Street. This project is p y an adaptive reuse and retrofitting of the 7- story Capitol Plaza Building(1815 Capitol Ave- The Omaha World-Herald, a legal daily newspaper printed and published in the nue)and the 1-story,'circular"shaped build- ' Stree directly Slate projacent ect pr the oposeslcon converting g county of Douglas and State of Nebraska, and of general circulation in the the office structure ofthe Capitol Plaza Build- ing and adjacent structure to the south into a mix x two bed market-rate apartment mmrcial space o e Counties of Douglas, and Sarpy and State of Nebraska, and that the attached at the corner of 19th and Dodge Streets. Tax In- crement Financing in an amount up to printed notice was published two consecutive weeks in the said newspaper the $2,250,000.00 will be used to offset the costs of acquisition,rehabilitation costs,site work,ar- chitectural and engineering,surveys and envi- first insertion having been on November 1, 2012 and thereafter on November 8, ronmental and any public improvement,which also includes$20,000.00 of the TIF allocation to- i Fund. The Downtown total project Improvementv j 2012,and that said newspaper is a legal newspaper under the statutes of the State st is $13,886,500.00. pof Nebraska. The above facts are within my personal knowledge. The Omaha in the City Clerk's availableOffifor public in- spectionWorld-Herald has an average circulation of 145,620 Daily and 179,203 Sunday, Public Hearing will be held before the City Cative Chambencil rsftOmahe ha/Dougl of as Omaha, Cin ivic 1819 in 2012. Farnam Street,Omaha,Nebraska. Buster Brown / City Cleric ALL REQUESTS FOR SIGN LANGUAGE �� UIRE A INTERPRETERS MINIMUM OEF 48 HOURS A ADVANCE WILL NOT NOTICE. ` IF ALTERNATIVE FORMATS ARE NEEDED ALL (Signed) Title:Account Executive REQUESTS WILL REQUIRE A MINIMUM OF 72 HOURS ADVANCE NOTICE. PLEASE NOTIFY CINDY FORD THINNES-IF ARRANGEMENTS NEED TO BE M 444-5553, MADE. S bscribed in my presence and sworn to before me this day of • & st1l ,2012. GENERAL NOTARY-State of Nebraska HILLARY ADDISON tEtt Conn.Exp.NOV8Mbef23,2016 Notary P lic Printer's Fee$ Affidavit Paid By , COty m y Ad t?orf�l Copies November /20 12 •�of Y 6 �01�6 /NM/ TgTF• OF NE,�P Notary Public•'7 . f.'fr •- ... ty, .Ote . 'Ne.r:. a ch is a mere four blocks west on Dodge Street. The two parking levels will have between 80 and 90 stalls. OmahaPark Five, the parking structure directly across Capitol Avenue would II have additional parking spaces for lease to tenants,should they be needed. 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