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RES 2011-1104 - Lofts at 14th LLC TIF redevelopment project plan °e° ''ee,� Planning Department a`,t, t t :�►- f l .!tit P. u �� a - L.i * Omaha/Douglas Civic Center �f+'.��'A!J.`� 1819 Farnam Street,Suite 1100 z �fErA `g hOmaha,Nebraska 68183 no® CY �► w 1 I SEP '" I A I I: 4 (402)444 5150 0oe'T r�� ,,r'=,t+ C t„p r_,r st Telefax(402)444-6140 FD FEBR ^I .P �r t f.el:. 1 r R.E.Cunningham,RA,F.SAME City of Omaha '��s� 1 * J 4.r;s A 4a t' Director Jim Suttle,Mayor September 13, 2011 Honorable President and Members of the City Council, The attached Resolution transmits the Lofts at 14th,LLC Tax Increment Financing Redevelopment Project Plan located at 802 South 14th Street which proposes the redevelopment of the former Safeway Cab Building site into a new 4-story building consisting of 42 market-rate apartments, comprised of a unit mix of studios, one- and two-bedroom units. The ground level will feature an entry plaza, elevator lobby and 37 enclosed parking stalls. A portion of the 2nd floor will provide an outdoor roof deck accessible to the building residents. This project is a response to the demand for additional market-rate apartment units in the downtown area. 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 $450,000.00 to offset costs of acquisition, sitework, architectural and engineering,utility assessments and public improvements on- and off-site of this project. The total project cost is estimated to be $5,860,621.00 with TIF eligible cost of approximately $1,078,671.00. Your favorable consideration of this Resolution will be appreciated. Respectfully submitted, Referred to City Council for Consideration: ct i. ; io-719 n r ' ' . Cunningh. _RA E Date Mayor's Office ate 1) Planning Direc or Approved: Ou..... PciALL :f/-// '-31 // r1 Pam Spadcarotella Date Ro rt G. Stubbe,P.E. Date .\Finance Director Public Works Director Notice of Publication and Public Hearing: September 15 and September 22, 2011 Public Hearing: October 4,2011 Plnlsf1583-cover letter 5"k • P:\MYR\0002PR Approved.. Mayor BB a�a�,a��% 9n�'6' g g 'r1 g 8q Ks8i .a.ags cs53, s_Aws.._.s `l'" gm a. H a . 6 'mThU 4 y$ g e.c..mc gEm2g S=. c'' WWRJIW $g. m�2 i' 3lv6g" iEz. `g8 � age o d hS a m g a�5 g.w 5 g m 8 L8 10 5' g k- 1 S m g.6= " I M m m E. 5 g i g 8 $ o m�.' 52 .. g=2 m gIg Fag2 6R.c.c c' �• ' 36 0 0 .= Em�_ 38.LUIA gy°.� w tiB$ `5 $ ? amm m' Dv • m QQ11111 " 2.� ggap� y8.8'g FrgiekPae 6amm3= 3 . s G,� �= g = 8m $ m m 8yg� c _G 6gg3gm`3- amm m N o ma l' n. sEms8 »m 76 a 0' . • sg oog �bo plan=$M8c' .-f7E:.„.E-go �ymwH� o E cRSzmz a ¢maAzR a°` _�; meaTc zDOm(�'~ I$ aQ2 8go =rt`iN _, m 4•» m Ozc'r'4 ' a.e..2 8,€,m`'m Spilt 1-o$ a N- mm?" z 9 =Zzzmo o g gag m g m g=s.&*• $ ga -' 3 '1R rx m,_z se ' _-� a�'�1ag@a�aa $ 9 _,'g,- I rmyr ArO � a . 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LOTS 1 THRU 4,BLOCK 199 '�e { AL I ACSM ENGINEERING°PLANNING°FIELD SERVICES g 9 LAND TITLE SURVEY ORIGINAL CITY OF OMAHA • @ B eacaucar+rc,neeR+srcR °RmumlSTRIET W6. I r<e § @ PRD•reI,P2I rm FNCy<OE0MM of Publication and Public Hearing: September 15 and September 22, 2011 Public Hearing: October 4,2011 Plnlsf1583-cover letter 5"k • P:\MYR\0002PR Approved.. Mayor BB a�a�,a��% 9n�'6' g g 'r1 g 8q Ks8i .a.ags cs53, s_Aws.._.s `l'" gm a. 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FEBR0, / 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 North 86th St. Omaha, NE 68114 (402) 502-1083 Mr. Mike McCarthy Chairman McCarthy Group 1601 Dodge St. , Suite 3800 Omaha, NE 68164 (402) 932-8600 ty of Omaha i p:\law-city council documents\2011\10185dae.doc ':.fi,t l' 4 liC. vity. • 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: July 27,2011 • SUBJECT: LOFTS AT 14TH,LLC TIF REDEVELOPMENT PROJECT PLAN 802 South 14th Street #C3-11-144 This project represents the redevelopment of the former Safeway Cab Building site by converting the project site to a new 4-story building consisting of 42 market rate apartments,comprised of a unit mix of studios,one-and two-bedroom units. The ground level will feature an entry plaza,elevator lobby and 37 enclosed parking stalls. A portion of the 2nd floor will provide an outdoor roof deck accessible to the building residents. The unit mix is as follows: Multifamily Rental Number of Units Unit Mix 3 Studio 32 1 bedroom 7 2 bedroom Total Units 42 According to market data in section G of the TIF application,in addition to information gleaned from several experienced developers building within the urban core of Omaha,demand has been strong for new apartment units. Much of the demand is due to the apartment condo conversions that occurred several years ago,just prior to the financial and mortgage crisis of 2008 and 2009. The result is pinned-up demand for rental units. The addition of this project to the downtown market helps to fulfill the vision of the Downtown Master Plan which calls for higher residential densities. The project site was recently rezoned from DS-ACI-1 to CBD ACI-1. Public improvements will include additional parking,streetscaping and sidewalks,landscaping,as well as efforts to re-stripe Leavenworth to reduce the number of lanes and add diagonal parking. This project will be required to comply with all Planning Department and Planning Board recommendations. The TIF request is for$450,000.04,which will offset costs of acquisition,sitework,architectural and engineering,utility assessments and public improvements on-and off-site to this project. Total estimated project costs are$5,860,621.00 The project site and area meet the requirements of Nebraska Community Development Law and qualify for the submission of an application for the utilization of Tax Increment Financing to cover costs 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 BH 2 i' 3lv6g" iEz. `g8 � age o d hS a m g a�5 g.w 5 g m 8 L8 10 5' g k- 1 S m g.6= " I M m m E. 5 g i g 8 $ o m�.' 52 .. g=2 m gIg Fag2 6R.c.c c' �• ' 36 0 0 .= Em�_ 38.LUIA gy°.� w tiB$ `5 $ ? amm m' Dv • m QQ11111 " 2.� ggap� y8.8'g FrgiekPae 6amm3= 3 . s G,� �= g = 8m $ m m 8yg� c _G 6gg3gm`3- amm m N o ma l' n. sEms8 »m 76 a 0' . • sg oog �bo plan=$M8c' .-f7E:.„.E-go �ymwH� o E cRSzmz a ¢maAzR a°` _�; meaTc zDOm(�'~ I$ aQ2 8go =rt`iN _, m 4•» m Ozc'r'4 ' a.e..2 8,€,m`'m Spilt 1-o$ a N- mm?" z 9 =Zzzmo o g gag m g m g=s.&*• $ ga -' 3 '1R rx m,_z se ' _-� a�'�1ag@a�aa $ 9 _,'g,- I rmyr ArO � a . 'gH 97d ,5 = 6 $ = 8 ePI, " `zDi " ".c '•mc $m8g.awl• Fgac Qea - gSo 3 zM ' c4< -aa ma 'w' m'e' mm=e 8g0c R vAxmm 1-"0 8 o mo it8 ,0 � �, .66 acsa.o. c me 0 Fm2g2 8$ @ S t* gg 1 1 Fii(wnc<vzi gg o5g6g r , 8ga1' ,oQ a g g _ y $ Q g m �l�u uiim00im 11/111190 � m d't1 in! 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Egy� ..__ 6N F0 • • 65, 'C'*Zv 1gm$' 88ga 88, $ a C ..'sn .s$ $a F (n m-i L4+ m4 88,EW Rg-8 O1m ,gff= Ig" ''. �zm�0 .aF am6 s! _ ��0 3' `� I <00- m `g'g' wc.d o 8 g' •• (nm s 3g. g .kn I c a g_7 8 0 8 3 6 ' E. .-1 N 1n Co 1n ID n co Ol O to sa3 to o c 1 • J = 88 4 (JD COV VI N A VI O- O CO u° CO 0 o 'n a ; o v y V1 X X V) < V)Y V) 0 VI U d U w .-1 L W WI V) X X 6 CS ..4 0 .<-1 0 ON .n-I U3 W 0 ta0 t~0 40 oV 1 L .1 .-1 .i .i .i .i .i .i .-1 a 1. a N N N CO N N N co N g8 F luedioiued yoea iaylaym awwalap of af1H Jiwiad of(E'saugpeap luawasingsip pue luawliwwoo pun;6wlaaw uI sluedpiued Jo aouewiopad loeil of(z 'swei6oid nay)6ui6euew ul sluedp!ped 3WOH is!sse of(l :pasn aq !pm uogewio;w ayl 'seals ogewwei6aid Pup uo pus 'saluadoid ayi Jo slueual JO iaumo ay!uo'saivadnid palsisse uo uoISWJO;uI sapnpw sly) sluawannbai 6wuodai pue uouoagoo e1ep;o iagwnu Jue0giu6ls a sasodw!alnlels 3010H ayl •Jagwnu!ailuoo 9W0 pgen e s/elds!p uo!papo0 ley;ssalun uogewio;w;o uo!papo0 a'ol puodsai of pannbai lou si,uosiad a pue'iosuods JO pnpuoo Jou Aew/oua6e siyl 'uogewio;ui Jo uoipa!!oo Sill 6wmainai pue 6ugaIdwoo pue'papaau eiep Sill 6uiweluiew pue 6wiagle6'saoinos elep 6ugsixa 6wyoieas'suoipnnsui 6wmainai iol awg ayl 6wpnpw'asuodsai lad sainuiw 9L a6eJane 0l pa4ewgsa s!uogewo;w;o uoipago0 siyl io;uapinq 6wuodai oggnd iepea UhW ia410-OZ %09-09-b • L__ M ril g1 LOFTS AT 14TH M 14th & LEAVENWORTH PI OMAHA, NEBRASKA APPLICATION FOR TAX INCREMENT FINANCING 11 _,-----'\ i. ",itt • _ter '1 : OS* _ � ii iiii - Ws" ii-a-70/41 adillain ,.....111171 ;---11!lljjulliliP-----r1"Pgll--- --fll—i lel. - ;;.0," 1, 1 II I III 't*. '' - 0111 111 ii-MVIAMILLISIMI . l' 1 Itri — Vaireil — — 1 -4- ,?...._____ ...,-. --- ......-- ta AMERICA FIRST 123 Real Estate Group 44 • (402) 932-8600 ty of Omaha i p:\law-city council documents\2011\10185dae.doc ':.fi,t l' 4 liC. vity. • AMal ERICA R Re Estate FI GroupST July 8, 2011 Mr.Ken Johnson Economic Development Manager 1819 Farnam Street, Suite 1110 Omaha,NE 68183 Ms. Bridget Hadley City Planner 1819 Farnam Street, Suite 1110 Omaha,NE 68183 Re: Lofts at 14th Dear Mr. Johnson &Ms. Hadley, On behalf of Lofts at 14th, LLC (Member: America First Real Estate Group,Dominic Vaccaro,Vice President)we appreciate the opportunity to submit the following Application for Tax Increment Financing for Lofts at 14th. The new construction of the Lofts at 14th will provide further suitable and sustainable housing for Omaha's Downtown. Located at 14t1'and Leavenworth,formerly the Safeway Cab Building,the new 4 story structure will provide 42 market rate apartments. Our market data and experience demonstrates a strong need for more apartment housing downtown. Omaha's master plans also call for further housing downtown. Current and historical rental rates are strong and vacancy rates are low. America First plans to invest nearly$6 million dollars to build the Lofts at 14th. Through this investment,the city will see further beautification of Omaha's Downtown. Furthermore,Downtown residents will experience the opportunity for more safe and sustainable housing. This application requests the approval or$450,000 in Tax Increment Financing to support the development of the Lofts at 14th, a 42 unit, $6 million project. As represented within the application, the Lofts at 14th project meets the mandatory and discretionary criteria set forth within the Tax Increment Financing Guidelines issued by the City of Omaha. The Lofts at 14th project cannot proceed without Tax Increment Financing Assistance. Resp D inic accaro Vice President ts :.r ONE BURLINGTON PLACE, 1004 FARNAM STREET,SUITE 400,OMAHA,NEBRASKA 68102 402.444.1630 PHONE 402.930.3047 FAX• WWW.AFREG.COM s for$450,000.04,which will offset costs of acquisition,sitework,architectural and engineering,utility assessments and public improvements on-and off-site to this project. Total estimated project costs are$5,860,621.00 The project site and area meet the requirements of Nebraska Community Development Law and qualify for the submission of an application for the utilization of Tax Increment Financing to cover costs 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 BH 2 i' 3lv6g" iEz. `g8 � age o d hS a m g a�5 g.w 5 g m 8 L8 10 5' g k- 1 S m g.6= " I M m m E. 5 g i g 8 $ o m�.' 52 .. g=2 m gIg Fag2 6R.c.c c' �• ' 36 0 0 .= Em�_ 38.LUIA gy°.� w tiB$ `5 $ ? amm m' Dv • m QQ11111 " 2.� ggap� y8.8'g FrgiekPae 6amm3= 3 . s G,� �= g = 8m $ m m 8yg� c _G 6gg3gm`3- amm m N o ma l' n. sEms8 »m 76 a 0' . • sg oog �bo plan=$M8c' .-f7E:.„.E-go �ymwH� o E cRSzmz a ¢maAzR a°` _�; meaTc zDOm(�'~ I$ aQ2 8go =rt`iN _, m 4•» m Ozc'r'4 ' a.e..2 8,€,m`'m Spilt 1-o$ a N- mm?" z 9 =Zzzmo o g gag m g m g=s.&*• $ ga -' 3 '1R rx m,_z se ' _-� a�'�1ag@a�aa $ 9 _,'g,- I rmyr ArO � a . 'gH 97d ,5 = 6 $ = 8 ePI, " `zDi " ".c '•mc $m8g.awl• Fgac Qea - gSo 3 zM ' c4< -aa ma 'w' m'e' mm=e 8g0c R vAxmm 1-"0 8 o mo it8 ,0 � �, .66 acsa.o. c me 0 Fm2g2 8$ @ S t* gg 1 1 Fii(wnc<vzi gg o5g6g r , 8ga1' ,oQ a g g _ y $ Q g m �l�u uiim00im 11/111190 � m d't1 in! R � c'o� 1.5 �mB m20 mo8mo 8x• a �6 t fD x<om`mo 1 § gg a- �o•N• - Z 5 y l $ m mccc�z1' $'�°, e M • z�a„o� .1§ 2ma2 ! Imak 80 g- 11 q,,..nzz� „& R g s g 0. m zmy�-<im '8•�gm1. gk m= m• - = o p��' u^m, •.mne ".$ m 8 g. `Wcm 4 Igc 2mmzmz gm3 11 or F''n`.. '1o $ -z zoN-C91Om HO n0.,Z=g- mm.Ika IiQ 0. 3n 'o$"$ etz6 R 3 v x3 Fg Su 8 8 a:gg i, g5c e -fg4ma gng.= KI' = o gr asiG 3 $ 1 "=mom sm -g m � � g 3 n la$ mm m21-4E 5 .6 Sams. Egy� ..__ 6N F0 • • 65, 'C'*Zv 1gm$' 88ga 88, $ a C ..'sn .s$ $a F (n m-i L4+ m4 88,EW Rg-8 O1m ,gff= Ig" ''. �zm�0 .aF am6 s! _ ��0 3' `� I <00- m `g'g' wc.d o 8 g' •• (nm s 3g. g .kn I c a g_7 8 0 8 3 6 ' E. .-1 N 1n Co 1n ID n co Ol O to sa3 to o c 1 • J = 88 4 (JD COV VI N A VI O- O CO u° CO 0 o 'n a ; o v y V1 X X V) < V)Y V) 0 VI U d U w .-1 L W WI V) X X 6 CS ..4 0 .<-1 0 ON .n-I U3 W 0 ta0 t~0 40 oV 1 L .1 .-1 .i .i .i .i .i .i .-1 a 1. a N N N CO N N N co N g8 F luedioiued yoea iaylaym awwalap of af1H Jiwiad of(E'saugpeap luawasingsip pue luawliwwoo pun;6wlaaw uI sluedpiued Jo aouewiopad loeil of(z 'swei6oid nay)6ui6euew ul sluedp!ped 3WOH is!sse of(l :pasn aq !pm uogewio;w ayl 'seals ogewwei6aid Pup uo pus 'saluadoid ayi Jo slueual JO iaumo ay!uo'saivadnid palsisse uo uoISWJO;uI sapnpw sly) sluawannbai 6wuodai pue uouoagoo e1ep;o iagwnu Jue0giu6ls a sasodw!alnlels 3010H ayl •Jagwnu!ailuoo 9W0 pgen e s/elds!p uo!papo0 ley;ssalun uogewio;w;o uo!papo0 a'ol puodsai of pannbai lou si,uosiad a pue'iosuods JO pnpuoo Jou Aew/oua6e siyl 'uogewio;ui Jo uoipa!!oo Sill 6wmainai pue 6ugaIdwoo pue'papaau eiep Sill 6uiweluiew pue 6wiagle6'saoinos elep 6ugsixa 6wyoieas'suoipnnsui 6wmainai iol awg ayl 6wpnpw'asuodsai lad sainuiw 9L a6eJane 0l pa4ewgsa s!uogewo;w;o uoipago0 siyl io;uapinq 6wuodai oggnd iepea UhW ia410-OZ %09-09-b • L__ I) Project Summary Project Owner: Lofts at 14th, LLC, a subsidiary of America First Real Estate Group, LLC Project Address: 802 South 14th Street, Omaha,NE 68108 Project Legal Description: Lots 1 & 2, Block 199, Original City of Omaha, as surveyed, platted and recorded in Douglas County,Nebraska Estimated Overall Project Cost: $5,900,000 TIF Request: $450,000 Current Use: Vacant Land Current Zoning: DS (Application to re-zone to CBD has been submitted) Proposed Use: Multifamily Y Current Annual Real Estate Taxes (2010 tax year): $ 10,124.70 Current Assessed Tax Valuation (2011 tax year): Land: $ 435,600 Improvements: $ 0 Total: $ 435,600 l documents\2011\10185dae.doc ':.fi,t l' 4 liC. vity. • II) Narrative A. Detailed Project Description The project will be situated on the former site of the Safeway Cabs building located on the corner of 14th and Leavenworth Streets. After years of code violations, this building was demolished to make way for this redevelopment opportunity. The project will consist of the new construction of 42 market rate multifamily apartments in a mix of studio, 1-bedroom and 2-bedroom configurations. The ground level of the development will feature the building's entry plaza, elevator lobby and 37 enclosed parking stalls. Floors 2—4 will feature the apartment units and will be wood frame construction in an "L" shape configuration. A portion of the 2nd floor will provide an outdoor roof deck accessible to building residents. The project's architecture will be modern in appearance. Materials will include a brick base and fiber cement siding with Fry Reglet Reveal Panel Trim trim pieces and reveals at the upper floors. The project's developer is America First Real Estate Group, a subsidiary of The Burlington Capital Group. Work qualifications and experience are on file with the City of Omaha. The project will be designed by Holland Basham Architects and constructed by Dicon Construction. B. Ownership Structure/Control of Property The project will be owned by a Lofts at 14th, LLC, a subsidiary of America First Real Estate Group, LLC of Omaha. The project site will be acquired simultaneous with the closing of the financing for the project. • C. Land Use Plan The proposed building will be constructed to the property boundaries, while maintaining an approximately 10' buffer from the existing building to the west. D. Zoning—Current and Proposed Current zoning is DS, and a re-zoning application has been submitted for CBD. E. Public Improvements, if applicable Public improvements will include parking and sidewalks adjacent to the property, repaving of the public alley to the south of the property, removal of existing railroad tracks adjacent to the property along 14th Street and contributions towards efforts to re-stripe Leavenworth Street(making it two lanes instead of three and adding diagonal parking). F. Historic Value, if applicable Not applicable for new construction. Tax Increment Financing to cover costs 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 BH 2 i' 3lv6g" iEz. `g8 � age o d hS a m g a�5 g.w 5 g m 8 L8 10 5' g k- 1 S m g.6= " I M m m E. 5 g i g 8 $ o m�.' 52 .. g=2 m gIg Fag2 6R.c.c c' �• ' 36 0 0 .= Em�_ 38.LUIA gy°.� w tiB$ `5 $ ? amm m' Dv • m QQ11111 " 2.� ggap� y8.8'g FrgiekPae 6amm3= 3 . s G,� �= g = 8m $ m m 8yg� c _G 6gg3gm`3- amm m N o ma l' n. sEms8 »m 76 a 0' . • sg oog �bo plan=$M8c' .-f7E:.„.E-go �ymwH� o E cRSzmz a ¢maAzR a°` _�; meaTc zDOm(�'~ I$ aQ2 8go =rt`iN _, m 4•» m Ozc'r'4 ' a.e..2 8,€,m`'m Spilt 1-o$ a N- mm?" z 9 =Zzzmo o g gag m g m g=s.&*• $ ga -' 3 '1R rx m,_z se ' _-� a�'�1ag@a�aa $ 9 _,'g,- I rmyr ArO � a . 'gH 97d ,5 = 6 $ = 8 ePI, " `zDi " ".c '•mc $m8g.awl• Fgac Qea - gSo 3 zM ' c4< -aa ma 'w' m'e' mm=e 8g0c R vAxmm 1-"0 8 o mo it8 ,0 � �, .66 acsa.o. c me 0 Fm2g2 8$ @ S t* gg 1 1 Fii(wnc<vzi gg o5g6g r , 8ga1' ,oQ a g g _ y $ Q g m �l�u uiim00im 11/111190 � m d't1 in! R � c'o� 1.5 �mB m20 mo8mo 8x• a �6 t fD x<om`mo 1 § gg a- �o•N• - Z 5 y l $ m mccc�z1' $'�°, e M • z�a„o� .1§ 2ma2 ! Imak 80 g- 11 q,,..nzz� „& R g s g 0. m zmy�-<im '8•�gm1. gk m= m• - = o p��' u^m, •.mne ".$ m 8 g. `Wcm 4 Igc 2mmzmz gm3 11 or F''n`.. '1o $ -z zoN-C91Om HO n0.,Z=g- mm.Ika IiQ 0. 3n 'o$"$ etz6 R 3 v x3 Fg Su 8 8 a:gg i, g5c e -fg4ma gng.= KI' = o gr asiG 3 $ 1 "=mom sm -g m � � g 3 n la$ mm m21-4E 5 .6 Sams. Egy� ..__ 6N F0 • • 65, 'C'*Zv 1gm$' 88ga 88, $ a C ..'sn .s$ $a F (n m-i L4+ m4 88,EW Rg-8 O1m ,gff= Ig" ''. �zm�0 .aF am6 s! _ ��0 3' `� I <00- m `g'g' wc.d o 8 g' •• (nm s 3g. g .kn I c a g_7 8 0 8 3 6 ' E. .-1 N 1n Co 1n ID n co Ol O to sa3 to o c 1 • J = 88 4 (JD COV VI N A VI O- O CO u° CO 0 o 'n a ; o v y V1 X X V) < V)Y V) 0 VI U d U w .-1 L W WI V) X X 6 CS ..4 0 .<-1 0 ON .n-I U3 W 0 ta0 t~0 40 oV 1 L .1 .-1 .i .i .i .i .i .i .-1 a 1. a N N N CO N N N co N g8 F luedioiued yoea iaylaym awwalap of af1H Jiwiad of(E'saugpeap luawasingsip pue luawliwwoo pun;6wlaaw uI sluedpiued Jo aouewiopad loeil of(z 'swei6oid nay)6ui6euew ul sluedp!ped 3WOH is!sse of(l :pasn aq !pm uogewio;w ayl 'seals ogewwei6aid Pup uo pus 'saluadoid ayi Jo slueual JO iaumo ay!uo'saivadnid palsisse uo uoISWJO;uI sapnpw sly) sluawannbai 6wuodai pue uouoagoo e1ep;o iagwnu Jue0giu6ls a sasodw!alnlels 3010H ayl •Jagwnu!ailuoo 9W0 pgen e s/elds!p uo!papo0 ley;ssalun uogewio;w;o uo!papo0 a'ol puodsai of pannbai lou si,uosiad a pue'iosuods JO pnpuoo Jou Aew/oua6e siyl 'uogewio;ui Jo uoipa!!oo Sill 6wmainai pue 6ugaIdwoo pue'papaau eiep Sill 6uiweluiew pue 6wiagle6'saoinos elep 6ugsixa 6wyoieas'suoipnnsui 6wmainai iol awg ayl 6wpnpw'asuodsai lad sainuiw 9L a6eJane 0l pa4ewgsa s!uogewo;w;o uoipago0 siyl io;uapinq 6wuodai oggnd iepea UhW ia410-OZ %09-09-b • L__ III) Site Plans & Elevations Please see Attachment A. bsidiary of America First Real Estate Group, LLC Project Address: 802 South 14th Street, Omaha,NE 68108 Project Legal Description: Lots 1 & 2, Block 199, Original City of Omaha, as surveyed, platted and recorded in Douglas County,Nebraska Estimated Overall Project Cost: $5,900,000 TIF Request: $450,000 Current Use: Vacant Land Current Zoning: DS (Application to re-zone to CBD has been submitted) Proposed Use: Multifamily Y Current Annual Real Estate Taxes (2010 tax year): $ 10,124.70 Current Assessed Tax Valuation (2011 tax year): Land: $ 435,600 Improvements: $ 0 Total: $ 435,600 l documents\2011\10185dae.doc ':.fi,t l' 4 liC. vity. • • AMERICA FIRST Real Estate Group 14th & Leavenworth N N TIF Application I • /I . - {:::] • 1:::::r4111410„ r-illi )*[:::i frill'''. . . ---„ - .........„. ,_ . iti.,,, ... . - ..,.. . -......„._ .....„........ 0 ri 1 0 „,.......„. ................. CI . ,.._. • .-___. , li , -------, ...„...z.„ . s~-� -_.�� + �� yam_ •... `�.,,,,� x year): $ 10,124.70 Current Assessed Tax Valuation (2011 tax year): Land: $ 435,600 Improvements: $ 0 Total: $ 435,600 l documents\2011\10185dae.doc ':.fi,t l' 4 liC. vity. • s T t II <sv O 1 c Z ms- � l c _ I = W O 31$1.11 01) .! ,, z 4-..-&--_ igo_- ,,, _..:m.i.- p < < -I %-, _ - o = _- - L m = N O �_ziw4 '-1r-10 o JIM 3 tWe !*p?i . ZIE Ailifir. ,,,'7,r —.1......„ALI r---i 1 ' An j an I; CE. u_Li • 1)71....:u. A vv.-4, i ..„-It',1,- i CO r-T, , a uuu mail' •i. via ,KAE\gm t- -'I 1 . sit ma cama �� %i ,tea In 'C .,,c14„,.. �s �I �® \_. 03 P a i - C ima ill , 171111, a,�� a1rill. . Ek a i — 1114 ' ,_ ti 'Mil 1,---.A 3 �\m r m . M ` lit: > K -- ! —=,- i-- Aw- - - 1 Imamrs �!l�NEi . 11 o 1. i1.�muk !aim it •�Y k+ I , ....._. .... ,,,..., , . �7� .. t•, C ._ =1 Iit ME■ - ° s t emit rA I NW J i I /. Ili o Iv .� mow. I �; '�■ �¢ t i ti fri,, <r..._ck 4 , ,(4. ? 41/7,1,' a I) •f :, •1')•!.. a W.8 176 1/' t_, ii . Jr% II ip, ‘$' 4, opt NI _____IMI,iii= r. fItF1 F. � b� >o ,�.�_ Public improvements will include parking and sidewalks adjacent to the property, repaving of the public alley to the south of the property, removal of existing railroad tracks adjacent to the property along 14th Street and contributions towards efforts to re-stripe Leavenworth Street(making it two lanes instead of three and adding diagonal parking). F. Historic Value, if applicable Not applicable for new construction. Tax Increment Financing to cover costs 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 BH 2 i' 3lv6g" iEz. `g8 � age o d hS a m g a�5 g.w 5 g m 8 L8 10 5' g k- 1 S m g.6= " I M m m E. 5 g i g 8 $ o m�.' 52 .. g=2 m gIg Fag2 6R.c.c c' �• ' 36 0 0 .= Em�_ 38.LUIA gy°.� w tiB$ `5 $ ? amm m' Dv • m QQ11111 " 2.� ggap� y8.8'g FrgiekPae 6amm3= 3 . s G,� �= g = 8m $ m m 8yg� c _G 6gg3gm`3- amm m N o ma l' n. sEms8 »m 76 a 0' . • sg oog �bo plan=$M8c' .-f7E:.„.E-go �ymwH� o E cRSzmz a ¢maAzR a°` _�; meaTc zDOm(�'~ I$ aQ2 8go =rt`iN _, m 4•» m Ozc'r'4 ' a.e..2 8,€,m`'m Spilt 1-o$ a N- mm?" z 9 =Zzzmo o g gag m g m g=s.&*• $ ga -' 3 '1R rx m,_z se ' _-� a�'�1ag@a�aa $ 9 _,'g,- I rmyr ArO � a . 'gH 97d ,5 = 6 $ = 8 ePI, " `zDi " ".c '•mc $m8g.awl• Fgac Qea - gSo 3 zM ' c4< -aa ma 'w' m'e' mm=e 8g0c R vAxmm 1-"0 8 o mo it8 ,0 � �, .66 acsa.o. c me 0 Fm2g2 8$ @ S t* gg 1 1 Fii(wnc<vzi gg o5g6g r , 8ga1' ,oQ a g g _ y $ Q g m �l�u uiim00im 11/111190 � m d't1 in! R � c'o� 1.5 �mB m20 mo8mo 8x• a �6 t fD x<om`mo 1 § gg a- �o•N• - Z 5 y l $ m mccc�z1' $'�°, e M • z�a„o� .1§ 2ma2 ! Imak 80 g- 11 q,,..nzz� „& R g s g 0. m zmy�-<im '8•�gm1. gk m= m• - = o p��' u^m, •.mne ".$ m 8 g. `Wcm 4 Igc 2mmzmz gm3 11 or F''n`.. '1o $ -z zoN-C91Om HO n0.,Z=g- mm.Ika IiQ 0. 3n 'o$"$ etz6 R 3 v x3 Fg Su 8 8 a:gg i, g5c e -fg4ma gng.= KI' = o gr asiG 3 $ 1 "=mom sm -g m � � g 3 n la$ mm m21-4E 5 .6 Sams. Egy� ..__ 6N F0 • • 65, 'C'*Zv 1gm$' 88ga 88, $ a C ..'sn .s$ $a F (n m-i L4+ m4 88,EW Rg-8 O1m ,gff= Ig" ''. �zm�0 .aF am6 s! _ ��0 3' `� I <00- m `g'g' wc.d o 8 g' •• (nm s 3g. g .kn I c a g_7 8 0 8 3 6 ' E. .-1 N 1n Co 1n ID n co Ol O to sa3 to o c 1 • J = 88 4 (JD COV VI N A VI O- O CO u° CO 0 o 'n a ; o v y V1 X X V) < V)Y V) 0 VI U d U w .-1 L W WI V) X X 6 CS ..4 0 .<-1 0 ON .n-I U3 W 0 ta0 t~0 40 oV 1 L .1 .-1 .i .i .i .i .i .i .-1 a 1. a N N N CO N N N co N g8 F luedioiued yoea iaylaym awwalap of af1H Jiwiad of(E'saugpeap luawasingsip pue luawliwwoo pun;6wlaaw uI sluedpiued Jo aouewiopad loeil of(z 'swei6oid nay)6ui6euew ul sluedp!ped 3WOH is!sse of(l :pasn aq !pm uogewio;w ayl 'seals ogewwei6aid Pup uo pus 'saluadoid ayi Jo slueual JO iaumo ay!uo'saivadnid palsisse uo uoISWJO;uI sapnpw sly) sluawannbai 6wuodai pue uouoagoo e1ep;o iagwnu Jue0giu6ls a sasodw!alnlels 3010H ayl •Jagwnu!ailuoo 9W0 pgen e s/elds!p uo!papo0 ley;ssalun uogewio;w;o uo!papo0 a'ol puodsai of pannbai lou si,uosiad a pue'iosuods JO pnpuoo Jou Aew/oua6e siyl 'uogewio;ui Jo uoipa!!oo Sill 6wmainai pue 6ugaIdwoo pue'papaau eiep Sill 6uiweluiew pue 6wiagle6'saoinos elep 6ugsixa 6wyoieas'suoipnnsui 6wmainai iol awg ayl 6wpnpw'asuodsai lad sainuiw 9L a6eJane 0l pa4ewgsa s!uogewo;w;o uoipago0 siyl io;uapinq 6wuodai oggnd iepea UhW ia410-OZ %09-09-b • L__ g 2 1 1 1 1 '4; 6;* . " z aso �„,1 70a17s' EMI s c ! _. a\ !.... ..._ • _ 0 I 1 :44:414, . Le_ .,1 1 \\\\ iI ) •4,...r li - 1' . I N: • . 1..O.7 . ic S E, illIllll1 Ii \ m III \\\ \ \ k\r, , �� : \ • v F Q :„ v.- z c S i Improvements: $ 0 Total: $ 435,600 l documents\2011\10185dae.doc ':.fi,t l' 4 liC. vity. • • n " ' 1 'il -'" , 6 --- • me I. 1 e, ( q$ .¢t !"r 1 3 . a .1 s 9 .$ € : EE Ya (� s # �:ga a e qp ag I. le E T 2 E �r� 4Se Y i - E E f� • b ao Y t a € a. #g 1 k F i # 18 i € t s $ s } 3Q .1 a :r #i 11 . 11 F➢#s ;aa i 1 ! a F.F. I I i 11 • �ai 1 11! U !!I!;!! °i!ft IliF 1 • 1 1 1EI l 3 4FP al top „��1 � # ill �� x y lib E 3 3 E 1P ' I an;.glE 1 i"p a # I jj ll g l @ 1 o ..-' a sa I is1iII ilL I I I II II !,' it• h 1y If k Q �7yi H@ Q Fl l8 # I [ a x 3 $ {F - '1 -.'1z•[i1 i4 , gl 751%4• 8 x - Sa ,, 4 Y s $ °1 „1, 11"g lix � � Qe�1�I €t 1 : I ' a 1#11 a€.g11ls r' a§ . 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Egy� ..__ 6N F0 • • 65, 'C'*Zv 1gm$' 88ga 88, $ a C ..'sn .s$ $a F (n m-i L4+ m4 88,EW Rg-8 O1m ,gff= Ig" ''. �zm�0 .aF am6 s! _ ��0 3' `� I <00- m `g'g' wc.d o 8 g' •• (nm s 3g. g .kn I c a g_7 8 0 8 3 6 ' E. .-1 N 1n Co 1n ID n co Ol O to sa3 to o c 1 • J = 88 4 (JD COV VI N A VI O- O CO u° CO 0 o 'n a ; o v y V1 X X V) < V)Y V) 0 VI U d U w .-1 L W WI V) X X 6 CS ..4 0 .<-1 0 ON .n-I U3 W 0 ta0 t~0 40 oV 1 L .1 .-1 .i .i .i .i .i .i .-1 a 1. a N N N CO N N N co N g8 F luedioiued yoea iaylaym awwalap of af1H Jiwiad of(E'saugpeap luawasingsip pue luawliwwoo pun;6wlaaw uI sluedpiued Jo aouewiopad loeil of(z 'swei6oid nay)6ui6euew ul sluedp!ped 3WOH is!sse of(l :pasn aq !pm uogewio;w ayl 'seals ogewwei6aid Pup uo pus 'saluadoid ayi Jo slueual JO iaumo ay!uo'saivadnid palsisse uo uoISWJO;uI sapnpw sly) sluawannbai 6wuodai pue uouoagoo e1ep;o iagwnu Jue0giu6ls a sasodw!alnlels 3010H ayl •Jagwnu!ailuoo 9W0 pgen e s/elds!p uo!papo0 ley;ssalun uogewio;w;o uo!papo0 a'ol puodsai of pannbai lou si,uosiad a pue'iosuods JO pnpuoo Jou Aew/oua6e siyl 'uogewio;ui Jo uoipa!!oo Sill 6wmainai pue 6ugaIdwoo pue'papaau eiep Sill 6uiweluiew pue 6wiagle6'saoinos elep 6ugsixa 6wyoieas'suoipnnsui 6wmainai iol awg ayl 6wpnpw'asuodsai lad sainuiw 9L a6eJane 0l pa4ewgsa s!uogewo;w;o uoipago0 siyl io;uapinq 6wuodai oggnd iepea UhW ia410-OZ %09-09-b • L__ • P 6u1 lig PAR z • • V V V V V vy .M PZEI I AA o-a .Inu .4,1i I .rn I AWL PI .ell o-,a t II I II D ------_1 o _ ryF� o l,y :S'''' _ Sg fr i I � j--) ion _ :71::::--i''''1 I b § A.G Ii g • .o,a .rn onGt I bq .o-,el 1 .rn o-a .ii -i. -- ,1_______-3--L'_=1-1-=----:-..,7=101 t-9:111? 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Egy� ..__ 6N F0 • • 65, 'C'*Zv 1gm$' 88ga 88, $ a C ..'sn .s$ $a F (n m-i L4+ m4 88,EW Rg-8 O1m ,gff= Ig" ''. �zm�0 .aF am6 s! _ ��0 3' `� I <00- m `g'g' wc.d o 8 g' •• (nm s 3g. g .kn I c a g_7 8 0 8 3 6 ' E. .-1 N 1n Co 1n ID n co Ol O to sa3 to o c 1 • J = 88 4 (JD COV VI N A VI O- O CO u° CO 0 o 'n a ; o v y V1 X X V) < V)Y V) 0 VI U d U w .-1 L W WI V) X X 6 CS ..4 0 .<-1 0 ON .n-I U3 W 0 ta0 t~0 40 oV 1 L .1 .-1 .i .i .i .i .i .i .-1 a 1. a N N N CO N N N co N g8 F luedioiued yoea iaylaym awwalap of af1H Jiwiad of(E'saugpeap luawasingsip pue luawliwwoo pun;6wlaaw uI sluedpiued Jo aouewiopad loeil of(z 'swei6oid nay)6ui6euew ul sluedp!ped 3WOH is!sse of(l :pasn aq !pm uogewio;w ayl 'seals ogewwei6aid Pup uo pus 'saluadoid ayi Jo slueual JO iaumo ay!uo'saivadnid palsisse uo uoISWJO;uI sapnpw sly) sluawannbai 6wuodai pue uouoagoo e1ep;o iagwnu Jue0giu6ls a sasodw!alnlels 3010H ayl •Jagwnu!ailuoo 9W0 pgen e s/elds!p uo!papo0 ley;ssalun uogewio;w;o uo!papo0 a'ol puodsai of pannbai lou si,uosiad a pue'iosuods JO pnpuoo Jou Aew/oua6e siyl 'uogewio;ui Jo uoipa!!oo Sill 6wmainai pue 6ugaIdwoo pue'papaau eiep Sill 6uiweluiew pue 6wiagle6'saoinos elep 6ugsixa 6wyoieas'suoipnnsui 6wmainai iol awg ayl 6wpnpw'asuodsai lad sainuiw 9L a6eJane 0l pa4ewgsa s!uogewo;w;o uoipago0 siyl io;uapinq 6wuodai oggnd iepea UhW ia410-OZ %09-09-b • L__ III - g Pi Ii ! _iiNg • Y 7 7 D--_ �,..,,,. ,I •-. , Y 1-.- - __-T- .[-,,- --,ii III 1 i i '�-L'�"A� 11-1 i i if i i I-i� " i 1- IV; --i O !• '' 14--I! !. .ii Lir!1 I Itj is.. i-i1.1 I;i; -� I 2 i i I cy . 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Egy� ..__ 6N F0 • • 65, 'C'*Zv 1gm$' 88ga 88, $ a C ..'sn .s$ $a F (n m-i L4+ m4 88,EW Rg-8 O1m ,gff= Ig" ''. �zm�0 .aF am6 s! _ ��0 3' `� I <00- m `g'g' wc.d o 8 g' •• (nm s 3g. g .kn I c a g_7 8 0 8 3 6 ' E. .-1 N 1n Co 1n ID n co Ol O to sa3 to o c 1 • J = 88 4 (JD COV VI N A VI O- O CO u° CO 0 o 'n a ; o v y V1 X X V) < V)Y V) 0 VI U d U w .-1 L W WI V) X X 6 CS ..4 0 .<-1 0 ON .n-I U3 W 0 ta0 t~0 40 oV 1 L .1 .-1 .i .i .i .i .i .i .-1 a 1. a N N N CO N N N co N g8 F luedioiued yoea iaylaym awwalap of af1H Jiwiad of(E'saugpeap luawasingsip pue luawliwwoo pun;6wlaaw uI sluedpiued Jo aouewiopad loeil of(z 'swei6oid nay)6ui6euew ul sluedp!ped 3WOH is!sse of(l :pasn aq !pm uogewio;w ayl 'seals ogewwei6aid Pup uo pus 'saluadoid ayi Jo slueual JO iaumo ay!uo'saivadnid palsisse uo uoISWJO;uI sapnpw sly) sluawannbai 6wuodai pue uouoagoo e1ep;o iagwnu Jue0giu6ls a sasodw!alnlels 3010H ayl •Jagwnu!ailuoo 9W0 pgen e s/elds!p uo!papo0 ley;ssalun uogewio;w;o uo!papo0 a'ol puodsai of pannbai lou si,uosiad a pue'iosuods JO pnpuoo Jou Aew/oua6e siyl 'uogewio;ui Jo uoipa!!oo Sill 6wmainai pue 6ugaIdwoo pue'papaau eiep Sill 6uiweluiew pue 6wiagle6'saoinos elep 6ugsixa 6wyoieas'suoipnnsui 6wmainai iol awg ayl 6wpnpw'asuodsai lad sainuiw 9L a6eJane 0l pa4ewgsa s!uogewo;w;o uoipago0 siyl io;uapinq 6wuodai oggnd iepea UhW ia410-OZ %09-09-b • L__ s1 E o ! cesgq Y Y p-- _ — `; 1f ° :!. - -i" ij -! 11 � ! i i; ' iI ! �, • if -, — 0 _ , , _ ,- ! . i ,1 r n �� f .� I � T ! 4e 1 cfp:-, Qo � a,, , mn f n irk ORtilP4icran-ffir it "—cm V 4-gym iiiir II Ile li it M141-4 to g@ 1 . 11.1 r::::__ 1,--_..,.._____ ,..__ •-.2 11.--- --_,.. -—- .- EL jLgi -44, -------- -atF*11- LBAtigi — -- • if,,,,q , [ - - .i of 40k , x.„, , \• 1 i'" .@'<4.1--- --.114-; :4 -I V I:- ilia �yI1'`.V v im_' E o: ■ . . • r , 8� g0 :`:[' o I r ---7 f _ I �� ITV Li, • G .. g0,, .J I I . l I Ern T 1 t '.' 4 — — 11 g I o I Xa i i I I I , k E .--@[.tp. —- —_ I U' U U U U I U U U �v _' I 1 • } il p B � h € • LL o i F F i s! i •a r a e a a s A a a$ 1• � '3 €L 1s •'• g 111 x iif a 1S.-r 1 • L1' #:�D: a — _ ID 9D s,4D ' -- JD � i � eieei o ' I e.ii �ie�.-m , .......e>.eeie9 fie -is iiiiii.-0ti�, a a a a 6'3 3 3 3 3(. � {// eiiij��ee6dNNE. e% eeee ic� r Y i i '- 4D 11 . i F1IYYYYYYYY —.F.Z— '\ 1 \y-,,�_L__-)..19 — .4- "J Y I\\` h�•w..--'=-m.ry"wu....,— -------- __.—___-4yf�..nsa�xna.a�ariaeev:` --- ti I R g'r MR ee y .- 1 — i __- ._-_-' �/-`- -" -- -- - op. l731 S a S i pF$ ' x 000iif.' / / �i m ti Ili eee.B I ..ma's oe • , gg F 3 € :::w:•N. 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Egy� ..__ 6N F0 • • 65, 'C'*Zv 1gm$' 88ga 88, $ a C ..'sn .s$ $a F (n m-i L4+ m4 88,EW Rg-8 O1m ,gff= Ig" ''. �zm�0 .aF am6 s! _ ��0 3' `� I <00- m `g'g' wc.d o 8 g' •• (nm s 3g. g .kn I c a g_7 8 0 8 3 6 ' E. .-1 N 1n Co 1n ID n co Ol O to sa3 to o c 1 • J = 88 4 (JD COV VI N A VI O- O CO u° CO 0 o 'n a ; o v y V1 X X V) < V)Y V) 0 VI U d U w .-1 L W WI V) X X 6 CS ..4 0 .<-1 0 ON .n-I U3 W 0 ta0 t~0 40 oV 1 L .1 .-1 .i .i .i .i .i .i .-1 a 1. a N N N CO N N N co N g8 F luedioiued yoea iaylaym awwalap of af1H Jiwiad of(E'saugpeap luawasingsip pue luawliwwoo pun;6wlaaw uI sluedpiued Jo aouewiopad loeil of(z 'swei6oid nay)6ui6euew ul sluedp!ped 3WOH is!sse of(l :pasn aq !pm uogewio;w ayl 'seals ogewwei6aid Pup uo pus 'saluadoid ayi Jo slueual JO iaumo ay!uo'saivadnid palsisse uo uoISWJO;uI sapnpw sly) sluawannbai 6wuodai pue uouoagoo e1ep;o iagwnu Jue0giu6ls a sasodw!alnlels 3010H ayl •Jagwnu!ailuoo 9W0 pgen e s/elds!p uo!papo0 ley;ssalun uogewio;w;o uo!papo0 a'ol puodsai of pannbai lou si,uosiad a pue'iosuods JO pnpuoo Jou Aew/oua6e siyl 'uogewio;ui Jo uoipa!!oo Sill 6wmainai pue 6ugaIdwoo pue'papaau eiep Sill 6uiweluiew pue 6wiagle6'saoinos elep 6ugsixa 6wyoieas'suoipnnsui 6wmainai iol awg ayl 6wpnpw'asuodsai lad sainuiw 9L a6eJane 0l pa4ewgsa s!uogewo;w;o uoipago0 siyl io;uapinq 6wuodai oggnd iepea UhW ia410-OZ %09-09-b • L__ 6V ' ( � E I IJ iii g o 1 Y Y Y d •71 i --- 1 - f-, 'Pk"i ;' : ,c:ai - -i `311 ti!i Ib ! !i i-iiY. ,� i �' O ; ,1 Li ,_ i.i I_t!i-11I I r ! I i _t! 7• L i ' ' 4,61t. \'''' ' '" -.j_.-,"' -i--,_4_1 2- 'ffl IL's' &Pill Z-TIE : kl4J I 4\i rimi .C) sel , „151—i.”-: 4 11 el / ' •44Ikk‘ "i_rt-- 'gil 1 1 ' : firmzilo • �_�_—_ S� — —Pg. - _ - _ - _- - --.. _. - �� + is^ f j i-ii •.•s, Y 0 I g i gf a g e • i I 5 z '.' 4 — — 11 g I o I Xa i i I I I , k E .--@[.tp. —- —_ I U' U U U U I U U U �v _' I 1 • } il p B � h € • LL o i F F i s! i •a r a e a a s A a a$ 1• � '3 €L 1s •'• g 111 x iif a 1S.-r 1 • L1' #:�D: a — _ ID 9D s,4D ' -- JD � i � eieei o ' I e.ii �ie�.-m , .......e>.eeie9 fie -is iiiiii.-0ti�, a a a a 6'3 3 3 3 3(. � {// eiiij��ee6dNNE. e% eeee ic� r Y i i '- 4D 11 . i F1IYYYYYYYY —.F.Z— '\ 1 \y-,,�_L__-)..19 — .4- "J Y I\\` h�•w..--'=-m.ry"wu....,— -------- __.—___-4yf�..nsa�xna.a�ariaeev:` --- ti I R g'r MR ee y .- 1 — i __- ._-_-' �/-`- -" -- -- - op. l731 S a S i pF$ ' x 000iif.' / / �i m ti Ili eee.B I ..ma's oe • , gg F 3 € :::w:•N. I .;. i�" dD,4D4B `�. - e ms, 1 I._..a%saa.So •,lee ..�� O ' Elt f /,ee, ` V \\\\\\S./•fie' I . iiiiif 1 ' I::::: Ij mF }` O 14Dtilt' it :Ma j ki t 4D 40 OP s! :;I ��4D 4D E!s Vi ;i 4.361 : F 2' 4' s' 1 s ~1 ° I b4€ '8 5 1 Z g§ 11 g 1. V 1',°.°e's :1 i --+7" ab /WWI ei l31 laia.- € F; gall ' • G�e'ie'. I ;I I vQ s 1s" r .ea • hal is'el a s` _ �Ln-�_i_o -.=_ ji I 11 J S3 w. ilt. rig- , +. e. IIL i;� L�� 99 I "% de '-------- -------,1 ,I Ai. -,-,--,..- 4!!-11'fit, , ...Ill. .s.,.k.,1‘7 -1 .:4'. ::.:.r ,.„,.., , . ,, ,.,. ,....:.,.,„. ,„..„,,. , ,„,., ... •, ptil . • R :: 4D = , ..we a I - _-_�_ 1. '': '1 Q l# 4 $ ' 4 n"iiBl_�iii_ ex 1 +- AS ems= .,� :':gh.. 3 a IlD ��a i like =fir it i 0 Fm2g2 8$ @ S t* gg 1 1 Fii(wnc<vzi gg o5g6g r , 8ga1' ,oQ a g g _ y $ Q g m �l�u uiim00im 11/111190 � m d't1 in! R � c'o� 1.5 �mB m20 mo8mo 8x• a �6 t fD x<om`mo 1 § gg a- �o•N• - Z 5 y l $ m mccc�z1' $'�°, e M • z�a„o� .1§ 2ma2 ! Imak 80 g- 11 q,,..nzz� „& R g s g 0. m zmy�-<im '8•�gm1. gk m= m• - = o p��' u^m, •.mne ".$ m 8 g. `Wcm 4 Igc 2mmzmz gm3 11 or F''n`.. '1o $ -z zoN-C91Om HO n0.,Z=g- mm.Ika IiQ 0. 3n 'o$"$ etz6 R 3 v x3 Fg Su 8 8 a:gg i, g5c e -fg4ma gng.= KI' = o gr asiG 3 $ 1 "=mom sm -g m � � g 3 n la$ mm m21-4E 5 .6 Sams. Egy� ..__ 6N F0 • • 65, 'C'*Zv 1gm$' 88ga 88, $ a C ..'sn .s$ $a F (n m-i L4+ m4 88,EW Rg-8 O1m ,gff= Ig" ''. �zm�0 .aF am6 s! _ ��0 3' `� I <00- m `g'g' wc.d o 8 g' •• (nm s 3g. g .kn I c a g_7 8 0 8 3 6 ' E. .-1 N 1n Co 1n ID n co Ol O to sa3 to o c 1 • J = 88 4 (JD COV VI N A VI O- O CO u° CO 0 o 'n a ; o v y V1 X X V) < V)Y V) 0 VI U d U w .-1 L W WI V) X X 6 CS ..4 0 .<-1 0 ON .n-I U3 W 0 ta0 t~0 40 oV 1 L .1 .-1 .i .i .i .i .i .i .-1 a 1. a N N N CO N N N co N g8 F luedioiued yoea iaylaym awwalap of af1H Jiwiad of(E'saugpeap luawasingsip pue luawliwwoo pun;6wlaaw uI sluedpiued Jo aouewiopad loeil of(z 'swei6oid nay)6ui6euew ul sluedp!ped 3WOH is!sse of(l :pasn aq !pm uogewio;w ayl 'seals ogewwei6aid Pup uo pus 'saluadoid ayi Jo slueual JO iaumo ay!uo'saivadnid palsisse uo uoISWJO;uI sapnpw sly) sluawannbai 6wuodai pue uouoagoo e1ep;o iagwnu Jue0giu6ls a sasodw!alnlels 3010H ayl •Jagwnu!ailuoo 9W0 pgen e s/elds!p uo!papo0 ley;ssalun uogewio;w;o uo!papo0 a'ol puodsai of pannbai lou si,uosiad a pue'iosuods JO pnpuoo Jou Aew/oua6e siyl 'uogewio;ui Jo uoipa!!oo Sill 6wmainai pue 6ugaIdwoo pue'papaau eiep Sill 6uiweluiew pue 6wiagle6'saoinos elep 6ugsixa 6wyoieas'suoipnnsui 6wmainai iol awg ayl 6wpnpw'asuodsai lad sainuiw 9L a6eJane 0l pa4ewgsa s!uogewo;w;o uoipago0 siyl io;uapinq 6wuodai oggnd iepea UhW ia410-OZ %09-09-b • L__ IV) Alta Survey & Legal Description of Project Site Please see Attachment B. 70a17s' EMI s c ! _. a\ !.... ..._ • _ 0 I 1 :44:414, . Le_ .,1 1 \\\\ iI ) •4,...r li - 1' . I N: • . 1..O.7 . ic S E, illIllll1 Ii \ m III \\\ \ \ k\r, , �� : \ • v F Q :„ v.- z c S i Improvements: $ 0 Total: $ 435,600 l documents\2011\10185dae.doc ':.fi,t l' 4 liC. vity. • V) Sources & Uses Estimated Tax Total Valuation TIF Eligible Loan Amount 4,688,497 TIF 450,000 Equity 722,124 Total Sources 5,860,621 Acquisition 276,774 276,774 276,774 Sitework & Other TIF Eligible Costs 594,020 594,020 594,020 Building Construction 4,052,189 4,052,189 A/E/Consultants 394,928 394,928 69,856 TIF Fees 3,500 3,500 Utility Assessments 20,000 20,000 20,000 Taxes & Insurance 15,000 Fees & Permits - - Contingency 75,617 75,617 13,375 Financing & Interest Costs 196,283 Project Management 232,310 232,310 41,092 Total Uses 5,860,621 5,645,838 1,018,618 Please see Attachment C for a preliminary commitment for financing. Omaha State Bank's TIF loan rate would be 6.0%. — — 11 g I o I Xa i i I I I , k E .--@[.tp. —- —_ I U' U U U U I U U U �v _' I 1 • } il p B � h € • LL o i F F i s! i •a r a e a a s A a a$ 1• � '3 €L 1s •'• g 111 x iif a 1S.-r 1 • L1' #:�D: a — _ ID 9D s,4D ' -- JD � i � eieei o ' I e.ii �ie�.-m , .......e>.eeie9 fie -is iiiiii.-0ti�, a a a a 6'3 3 3 3 3(. � {// eiiij��ee6dNNE. e% eeee ic� r Y i i '- 4D 11 . i F1IYYYYYYYY —.F.Z— '\ 1 \y-,,�_L__-)..19 — .4- "J Y I\\` h�•w..--'=-m.ry"wu....,— -------- __.—___-4yf�..nsa�xna.a�ariaeev:` --- ti I R g'r MR ee y .- 1 — i __- ._-_-' �/-`- -" -- -- - op. l731 S a S i pF$ ' x 000iif.' / / �i m ti Ili eee.B I ..ma's oe • , gg F 3 € :::w:•N. I .;. i�" dD,4D4B `�. - e ms, 1 I._..a%saa.So •,lee ..�� O ' Elt f /,ee, ` V \\\\\\S./•fie' I . iiiiif 1 ' I::::: Ij mF }` O 14Dtilt' it :Ma j ki t 4D 40 OP s! :;I ��4D 4D E!s Vi ;i 4.361 : F 2' 4' s' 1 s ~1 ° I b4€ '8 5 1 Z g§ 11 g 1. V 1',°.°e's :1 i --+7" ab /WWI ei l31 laia.- € F; gall ' • G�e'ie'. I ;I I vQ s 1s" r .ea • hal is'el a s` _ �Ln-�_i_o -.=_ ji I 11 J S3 w. ilt. rig- , +. e. IIL i;� L�� 99 I "% de '-------- -------,1 ,I Ai. -,-,--,..- 4!!-11'fit, , ...Ill. .s.,.k.,1‘7 -1 .:4'. ::.:.r ,.„,.., , . ,, ,.,. ,....:.,.,„. ,„..„,,. , ,„,., ... •, ptil . • R :: 4D = , ..we a I - _-_�_ 1. '': '1 Q l# 4 $ ' 4 n"iiBl_�iii_ ex 1 +- AS ems= .,� :':gh.. 3 a IlD ��a i like =fir it i 0 Fm2g2 8$ @ S t* gg 1 1 Fii(wnc<vzi gg o5g6g r , 8ga1' ,oQ a g g _ y $ Q g m �l�u uiim00im 11/111190 � m d't1 in! R � c'o� 1.5 �mB m20 mo8mo 8x• a �6 t fD x<om`mo 1 § gg a- �o•N• - Z 5 y l $ m mccc�z1' $'�°, e M • z�a„o� .1§ 2ma2 ! Imak 80 g- 11 q,,..nzz� „& R g s g 0. m zmy�-<im '8•�gm1. gk m= m• - = o p��' u^m, •.mne ".$ m 8 g. `Wcm 4 Igc 2mmzmz gm3 11 or F''n`.. '1o $ -z zoN-C91Om HO n0.,Z=g- mm.Ika IiQ 0. 3n 'o$"$ etz6 R 3 v x3 Fg Su 8 8 a:gg i, g5c e -fg4ma gng.= KI' = o gr asiG 3 $ 1 "=mom sm -g m � � g 3 n la$ mm m21-4E 5 .6 Sams. 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'ram_ �4 y__ �+.� .�,� ..„....... ....., , ___L _ E, - , ....._____ ___, • El ......,. __. .... .___ _ .....___ , _ ,_. _ .... _ _ ealk.NM(.M" 1.111.11.0.1r0110 iimMIWOMMICa 1.� Omaha State Bank Expect Excellence April 29, 2011 Mr. Dominic Vaccaro Vice President America First Real Estate Group One Burlington Place 1004 Famam Street, Suite 400 Omaha,NE 68102 Re: Financing of Improvements— 14th& Leavenworth Dear Mr. Vaccaro: Omaha State Bank would favorably consider providing financing to construct apartments and associated public improvements at 14th & Leavenworth Streets, Omaha, Nebraska. The financing package would include Tax Increment Financing("TIF") with an amount to be determined. Please do not hesitate to give me a call if you have any further questions or require additional information. We look forward to working with you on this transaction. Sincer , Charles D. Boone Vice President CDB/dc 12100 West Center Road•Omaha,Nebraska 68144 BANK:(402)333-9100•FAX:(402)333-9787•www.omahastate.com MEMBER FDIC Q EQUAL OPPORTUNITY LENDER C ' 1 O N (n 0)C N- C)a0 C) CO O) N (V(V O N- C O C I O O N- C 0) N O 2 O of O I (n h D) V N 0) Ds Cr N CI) 0 C CO N NCO (0 N CO C n C) CO C O 10 E = . n N. N. O CO CO N. N. h N.- CID (O O (0 On 0 0 C sr . C) C) C) N N V)V) P N (1) n N 0 d ,_U U) Q J C a C • Q s- N co C 0 O O O O CO CO CO CO CO CO CO CO CO CO CO CO CO aO CO CO CO 00 03 CO CO CO CO CO CO CO CO I 69 fA V)69 N_ N N_ N_N_ N_ N N_ N_ N_ N N_ N_ N_ N N_N_ N. N_ N N_ N_ N_ N_ N_ N_ ON,) I c(co'W a0 05 co co'co'co co'co"co"co"c0 a0 co c0 co"co" co"O aO a0 a0 c(I o ' C C C C Cr C Cr Cr Cr C C C C C Cr C C C C C V C C C . 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J 69 69 69 Vl 69 V)Vf 69 69 64 69 69 V)69 69 V)V)V)69 V)V)V)09 69 V)69 69 69 69 V) E 9 O a) C C 7 O (O .- (O N (A CO N C 00 (0 (O (O 0 N N co (O O) OO O 0 r- OO N (O CO (0 C 0 0 C f/) a) ..a)_. O O .- N C) C (O CO N. N O) O N C) •- V' r- .N 7 '0 0 N 6) 113 c ~ F 0 C a) Q Iliw (a a m co 1- O L 0 C O Q Z N 3 Oa co c VI) Construction Project Budget and Project Timeline Please see Attachment D. 14th & Leavenworth • • TIF Application . •0 4 1 iz:1 41610, , • in 1:::11 r. II: 1 ... r:,:p. • All••% . ' CO 1 _____ .......... „,. ______ ..... ,,,, . 'ram_ �4 y__ �+.� .�,� ..„....... ....., , ___L _ E, - , ....._____ ___, • El ......,. __. .... .___ _ .....___ , _ ,_. _ .... _ _ ealk.NM(.M" 1.111.11.0.1r0110 iimMIWOMMICa 1.� * AMERICA FIRST Real Estate Group , 14th & Leavenworth TIF Application mo _ 1111101140 i /I , I , 1 1 1 1 ... 1:::::1 r 411111:frb. a v CO 1 L , ,......... a n 1 - •,,, -0 c �- --- ♦►�� .� 3 n .` "�. 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N O) O N C) •- V' r- .N 7 '0 0 N 6) 113 c ~ F 0 C a) Q Iliw (a a m co 1- O L 0 C O Q Z N 3 Oa co c CO4 14th and Leavenworth APT 5/2/2011 GENERAL CONTRACTOR Omaha, NE411111 " . 5/2/2011 4/25/2011 4/26/2011 14th & Leavenworth APT Code Omaha, NE SD Budget Notes TIF Breakout GENERAL CONDITIONS 1.041 Project Management $ 66,240.00 $ 1.043 Project Administration $ 3,413.00 $ - 1.045 Project Supervision $ 75,200.00 $ - 1.510 Temp Utilities $ 21,691.00 $ - 1.515 Winter Conditions $ 48,000.00 $ - 1.525 Staging Rental $ 1,500.00 $ - 1.580 Project Sign $ 630.00 $ - 1.590 Field Office $ 3,465.00 $ - 1.710 Dumpster $ 11,700.00 $ - 720 Clean-up18 951.00 $ - 1 $ 1.850 Mileage $ 8,551.00 $ - 1.950 Builders Risk $ 10,000.00 $ - 1.960 Office Expenses $ 2,250.00 $ - SITEWORK 2.047 Equipment $ 14,600.00 $ - 2.066 Testing $ - By Owner $ - 2.068 Surveying $ 11,001.00 $ - 2.220 Site Demolition Included in 2.310 2.220 Demo Existing Footings $ 10,000.00 Allowance $ 10,000.00 2.250 Earth Shoring $ 80,000.00 Allowance $ 80,000.00 2.250 Under Pinning Existing Bldg $ 10,000.00 Allowance $ 10,000.00 2.310 Grading $ 90,109.00 $ 90,109.00 2.370 Erosion Control $ 6,050.00 $ 6,050.00 2.465 Geo Pier Foundations $ 167,500.00 $ 167,500.00 2.750 Concrete Paving $ 45,053.00 $ 45,053.00 2.760 Paving Specialties $ 2,229.00 $ 2,229.00 2.820 Temp Fencing $ 7,535.00 $ - 2.820 Fencing $ 1,400.00 $ - 2.870 Site Furnishings $ 3,451.00 $ - 2.930 Landscaping $ 10,000.00 Allowance $ 10,000.00 CONCRETE 3.030 Haul Spoils $ 1,500.00 $ - 3.305 Footings $ 45,503.00 $ - 3.335 Slab on Grade $ 47,100.00 $ - 3.338 Slab on Deck $ 86,500.00 $ - 3.510 Gypsum Flooring $ 38,057.00 Acoustimat 1 $ - MASONRY 4.200 Masonry and Brick $ 180,542.00 $ - STEEL 1 5.105 Structural Steel $ 297,010.00 $ - 5.115 Reinforcing Steel $ 34,111.00 $ - WOODS/PLASTICS 6.050 Small Tools/Fasteners $ 10,000.00 $ - 6.100 Rough Carpentry -Labor $ 132,923.00 $ - 6.100 Rough Carpentry -Materials $ 220,058.00 $ - 6.180 Finish Carpentry-Labor $ 39,550.00 $ - 6.200 Finish Carpentry-Material $ 45,000.00 $ - 6.501 Unit Cabinets $ 67,128.00 Consolidated Kitchens $ - Page 1 of 3 ' a0 a0 N CO.N 06 a0 a0 a0 a0 CO oD CO-OS W W ao oD o0 a0 a0 a0 a0 W o0 00 d R LL I C C C C C C C C C Cr s{ C C C C C C C C C C C C C Cr Cr N CA > A 1-: I C N > (p K a O E 2 E U. 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N O) O N C) •- V' r- .N 7 '0 0 N 6) 113 c ~ F 0 C a) Q Iliw (a a m co 1- O L 0 C O Q Z N 3 Oa co c iiiit N 14th and Leavenworth APT 5/2/2011 YCO NERAL CONTRACTOR Omaha, NE 5/2/2011 4/25/2011 4/26/2011 14th & Leavenworth APT Code Omaha, NE SD Budget Notes TIF Breakout 6.501 Unit Plam Counters $ 45,654.00 Consolidated Kitchens $ - 6.503 Window Sills $ 8,960.00 $ - THERMAL/MOISTURE 1 7.160 Waterproofing $ 21,637.00 $ - 7.210 Batt Insulation $ 25,727.00 $ - 7.255 Fire Proofing $ 45,100.00 $ - 7.410 Versa Lock Panels $ 9,395.00 $ - 7.460 Siding $ 198,118.00 $ - 7.500 EPDM Roofing $ 83,844.00 $ - 7.920 Caulking $ 16,900.00 $ - DOORS/WINDOWS 8.120 HM /Wood Entry/Hdwr $ 133,886.00 $ - 8.215 Prehung/Bifold $ - Included in 8.120 $ - 8.305 Access Doors-Ceiling $ 6,900.00 $ - 8.360 Overhead Doors $ 4,589.00 $ - 8.410 Aluminum Entrances $ 62,406.00 $ - 8.510 Fibrex Windows $ 47,579.00 $ - 8.410 Glass/Glazing/Mirrors $ - Included in 8.410 $ - FINISHES 9.300 Drywall $ 211,147.00 $ - 9.770 Flooring $ 75,432.00 $ - 9.900 Painting $ 76,035.00 Includes painting ceiling $ - SPECIAL CONDITIONS 10.430 Interior Signage $ 857.00 $ - 10.522 FEC $ 1,489.00 $ - 10.552 Mail Boxes $ 2,946.00 $ - • 10.555 Recycling/Trash Chutes $ 13,688.00 $ - 10.675 Metal/Wire Shelving $ 6,704.00 $ - 10.800 Toilet Accessories $ 4,788.00 $ - EQUIPMENT 11.452 Kitchen Appliances $ 68,200.00 $ - FURNISHING 12.510 Blinds $ - By Owner $ - CONVEYING SYSTEMS 14.240 Hydraulic Elevator $ 60,700.00 $ - MECHANICAL SYSTEMS 15.330 Fire Sprinkler System $ 65,000.00 $ - 15.410 Site Utilities $ 38,723.00 $ 38,723.00 15.410 Plumbing $ 311,447.00 Type M Copper $ - 15.510 HVAC $ 253,260.00 $ - Page 2 of 3 4.200 Masonry and Brick $ 180,542.00 $ - STEEL 1 5.105 Structural Steel $ 297,010.00 $ - 5.115 Reinforcing Steel $ 34,111.00 $ - WOODS/PLASTICS 6.050 Small Tools/Fasteners $ 10,000.00 $ - 6.100 Rough Carpentry -Labor $ 132,923.00 $ - 6.100 Rough Carpentry -Materials $ 220,058.00 $ - 6.180 Finish Carpentry-Labor $ 39,550.00 $ - 6.200 Finish Carpentry-Material $ 45,000.00 $ - 6.501 Unit Cabinets $ 67,128.00 Consolidated Kitchens $ - Page 1 of 3 ' a0 a0 N CO.N 06 a0 a0 a0 a0 CO oD CO-OS W W ao oD o0 a0 a0 a0 a0 W o0 00 d R LL I C C C C C C C C C Cr s{ C C C C C C C C C C C C C Cr Cr N CA > A 1-: I C N > (p K a O E 2 E U. 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J 69 69 69 Vl 69 V)Vf 69 69 64 69 69 V)69 69 V)V)V)69 V)V)V)09 69 V)69 69 69 69 V) E 9 O a) C C 7 O (O .- (O N (A CO N C 00 (0 (O (O 0 N N co (O O) OO O 0 r- OO N (O CO (0 C 0 0 C f/) a) ..a)_. O O .- N C) C (O CO N. N O) O N C) •- V' r- .N 7 '0 0 N 6) 113 c ~ F 0 C a) Q Iliw (a a m co 1- O L 0 C O Q Z N 3 Oa co c CO14th and Leavenworth APT 5/2/2011 GENERAL CONTRACTOR Omaha, NE 5/2/2011 4/25/2011 4/26/2011 14th& Leavenworth APT Code Omaha, NE SD Budget Notes TIF Breakout ELECTRICAL SYSTEMS 16.110 Electrical $ 275,680.00 $ - 16.110 Fire Alarm $ - Included $ - 16.110 Door Entry System $ - Included $ - 16.110 Relocate secondary $ 10,500.00 $ 10,500.00 16.110 Demo Vault $ 10,000.00 $ 10,000.00 MISC. REQUIREMENTS $ 392,044.00 Could vary based on final contract language $ 39,069.00 19.062 Building Permit $ - By Owner $ - 19.010 Sales Tax $ - Included $ - 19.060 Small Tools $ - Included $ - 19.055 Liability Insurance $ - Included $ - 19.070 OH &P $ - Included $ - 19.021 Sub Bonding $ - Included $ - 19.030 Contingency -2% $ - Included $ - 19.030 Warranty $ - Included $ - Budget Total- $ 4,564,836.00 $ 519,233.00 Owner Direct Costs 1.000 OPPD Transformer Relocation $ 74,787.00 $ 74,787.00 1.000 Building Permit $ 6,586.00 $ - Total with Owner Costs- $ 4,646,209.00 $ 594,020.00 Page 3 of 3 035.00 Includes painting ceiling $ - SPECIAL CONDITIONS 10.430 Interior Signage $ 857.00 $ - 10.522 FEC $ 1,489.00 $ - 10.552 Mail Boxes $ 2,946.00 $ - • 10.555 Recycling/Trash Chutes $ 13,688.00 $ - 10.675 Metal/Wire Shelving $ 6,704.00 $ - 10.800 Toilet Accessories $ 4,788.00 $ - EQUIPMENT 11.452 Kitchen Appliances $ 68,200.00 $ - FURNISHING 12.510 Blinds $ - By Owner $ - CONVEYING SYSTEMS 14.240 Hydraulic Elevator $ 60,700.00 $ - MECHANICAL SYSTEMS 15.330 Fire Sprinkler System $ 65,000.00 $ - 15.410 Site Utilities $ 38,723.00 $ 38,723.00 15.410 Plumbing $ 311,447.00 Type M Copper $ - 15.510 HVAC $ 253,260.00 $ - Page 2 of 3 4.200 Masonry and Brick $ 180,542.00 $ - STEEL 1 5.105 Structural Steel $ 297,010.00 $ - 5.115 Reinforcing Steel $ 34,111.00 $ - WOODS/PLASTICS 6.050 Small Tools/Fasteners $ 10,000.00 $ - 6.100 Rough Carpentry -Labor $ 132,923.00 $ - 6.100 Rough Carpentry -Materials $ 220,058.00 $ - 6.180 Finish Carpentry-Labor $ 39,550.00 $ - 6.200 Finish Carpentry-Material $ 45,000.00 $ - 6.501 Unit Cabinets $ 67,128.00 Consolidated Kitchens $ - Page 1 of 3 ' a0 a0 N CO.N 06 a0 a0 a0 a0 CO oD CO-OS W W ao oD o0 a0 a0 a0 a0 W o0 00 d R LL I C C C C C C C C C Cr s{ C C C C C C C C C C C C C Cr Cr N CA > A 1-: I C N > (p K a O E 2 E U. 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C F vi U o .c 7 (� U1:3 N :'� O N Q m 76 O MI O o j� ' ' U _ C U ! c c' -o) .c c W c N F-4 c Ico . o 7, I c $ . � 8 E c P4 W z LL - v I Fh it o 'o Io 0 o < o EL 0 Y w ,-- 1 ______ ._____ .c o a 1.2 lc.. .t- 0.o $ - MECHANICAL SYSTEMS 15.330 Fire Sprinkler System $ 65,000.00 $ - 15.410 Site Utilities $ 38,723.00 $ 38,723.00 15.410 Plumbing $ 311,447.00 Type M Copper $ - 15.510 HVAC $ 253,260.00 $ - Page 2 of 3 4.200 Masonry and Brick $ 180,542.00 $ - STEEL 1 5.105 Structural Steel $ 297,010.00 $ - 5.115 Reinforcing Steel $ 34,111.00 $ - WOODS/PLASTICS 6.050 Small Tools/Fasteners $ 10,000.00 $ - 6.100 Rough Carpentry -Labor $ 132,923.00 $ - 6.100 Rough Carpentry -Materials $ 220,058.00 $ - 6.180 Finish Carpentry-Labor $ 39,550.00 $ - 6.200 Finish Carpentry-Material $ 45,000.00 $ - 6.501 Unit Cabinets $ 67,128.00 Consolidated Kitchens $ - Page 1 of 3 ' a0 a0 N CO.N 06 a0 a0 a0 a0 CO oD CO-OS W W ao oD o0 a0 a0 a0 a0 W o0 00 d R LL I C C C C C C C C C Cr s{ C C C C C C C C C C C C C Cr Cr N CA > A 1-: I C N > (p K a O E 2 E U. 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M N N CV- r r . . . . . .. r r r r • ' O r 2 LL U) • • 0N 0N- L)NM0) r 1- 000 U) V' N V' UM 01� V' I- V- MN- 0 � 0 0 r 0) (0 (0))O O O)O a C(O . r N N r N r r r 0 43 r M 0 H 0CN- 00) U) I- MO OOr00 a) 0U0N- 00 V' r0)- V' U) V' M )- a) U) O N O CO U) ao 0)O) O 0 O 00 O) LL LL r r >.0 CO L 0) C 0 • 2 rrrr U)r r r N N r N rr a- O L y fa M CO 0 • . X 0 Q Orr O N r C C N N r N C N X 43 CD CD CD • 7 CO ❑ ❑ ino re + + + N .L L -0 C r r r co r m 0 Ce 0 O N LL + C E (a a) J 0 - a) = � a) C O M CO M N M Mr rr r-Mrrr N NL O O C Cr) 0 LL r V' 0) C O > C a) X C a) 0 {- 0 C a a) > > N a N LL d 1 N 0 c6 Li V m LY M co a) O Q.O a) aa)) m �_ H ,N CI- N C C f3. 'C a) N ( O o O co U W O . v o `mCU - a) o (XoCO H a) ate) C) r U' >CLO ( D W CLH CO Z 0 Z 0 $ - 6.180 Finish Carpentry-Labor $ 39,550.00 $ - 6.200 Finish Carpentry-Material $ 45,000.00 $ - 6.501 Unit Cabinets $ 67,128.00 Consolidated Kitchens $ - Page 1 of 3 ' a0 a0 N CO.N 06 a0 a0 a0 a0 CO oD CO-OS W W ao oD o0 a0 a0 a0 a0 W o0 00 d R LL I C C C C C C C C C Cr s{ C C C C C C C C C C C C C Cr Cr N CA > A 1-: I C N > (p K a O E 2 E U. Vd 69 69 V)69 69 69 V)V)V)69 69 69 V)V)V)N 69 Vi 69 V)69 69 69 69 V)V)V>69 69 O COCOCOCOCO (D COCD COCOCOCOCOCO COCO (D CO COCD COCOCOCOCO . CO ¢ °� ce c ( N 0 roaocococoaoaocoroaococomao00ccocomaocoaocoaococo I (n c c 8t. ' ' " . 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J 69 69 69 Vl 69 V)Vf 69 69 64 69 69 V)69 69 V)V)V)69 V)V)V)09 69 V)69 69 69 69 V) E 9 O a) C C 7 O (O .- (O N (A CO N C 00 (0 (O (O 0 N N co (O O) OO O 0 r- OO N (O CO (0 C 0 0 C f/) a) ..a)_. O O .- N C) C (O CO N. N O) O N C) •- V' r- .N 7 '0 0 N 6) 113 c ~ F 0 C a) Q Iliw (a a m co 1- O L 0 C O Q Z N 3 Oa co c VIII) ROI Analysis—"But For" With TIF Without TIF Project Costs 5,860,621 5,860,621 Loan to Value Ratio 80% 80% Loan Amount 4,688,497 4,688,497 TIF Financing 450,000 - Equity Required 722,124 1,172,124 Total Financing and Equity 5,860,621 5,860,621 Loan Interest Rate 4.75% 4.75% Loan Amortization (Years) 30 30 Net Operating Income 356,086 356,086 Loan Principal & Interest 293,489 293,489 Net Cash Flow 62,597 62,597 Cash on Cash Return on Equity 8.7% 5.3% As evidenced above, the projected ROE without TIF would only be 5.3%, and with TIF, would be 8.7%. An equity return of 5.3% is not sufficient for a new construction real estate investment involving construction risk, stabilization risk and ongoing operating risk. However, an 8.7% return does merit this investment. Therefore, this project would not proceed without TIF. ONNNUU)(OO U) M (N QNOOMM V' NrrrrMa- rr � V' CNN V' r0 NrrrUr U) U) O) (O r V' U) r M N 0 • 0 • 00000000000000 NOON- 0U) U) NU) NMNO0 .0 N-aO 0 N r N- 0 r N M CO M r N . Or r a- r r r r a-r N N N-r 0 O)0)(0 00 N N I- M : M N N M N M N N N N N N. M N N CV- r r . . . . . .. r r r r • ' O r 2 LL U) • • 0N 0N- L)NM0) r 1- 000 U) V' N V' UM 01� V' I- V- MN- 0 � 0 0 r 0) (0 (0))O O O)O a C(O . r N N r N r r r 0 43 r M 0 H 0CN- 00) U) I- MO OOr00 a) 0U0N- 00 V' r0)- V' U) V' M )- a) U) O N O CO U) ao 0)O) O 0 O 00 O) LL LL r r >.0 CO L 0) C 0 • 2 rrrr U)r r r N N r N rr a- O L y fa M CO 0 • . X 0 Q Orr O N r C C N N r N C N X 43 CD CD CD • 7 CO ❑ ❑ ino re + + + N .L L -0 C r r r co r m 0 Ce 0 O N LL + C E (a a) J 0 - a) = � a) C O M CO M N M Mr rr r-Mrrr N NL O O C Cr) 0 LL r V' 0) C O > C a) X C a) 0 {- 0 C a a) > > N a N LL d 1 N 0 c6 Li V m LY M co a) O Q.O a) aa)) m �_ H ,N CI- N C C f3. 'C a) N ( O o O co U W O . v o `mCU - a) o (XoCO H a) ate) C) r U' >CLO ( D W CLH CO Z 0 Z 0 $ - 6.180 Finish Carpentry-Labor $ 39,550.00 $ - 6.200 Finish Carpentry-Material $ 45,000.00 $ - 6.501 Unit Cabinets $ 67,128.00 Consolidated Kitchens $ - Page 1 of 3 ' a0 a0 N CO.N 06 a0 a0 a0 a0 CO oD CO-OS W W ao oD o0 a0 a0 a0 a0 W o0 00 d R LL I C C C C C C C C C Cr s{ C C C C C C C C C C C C C Cr Cr N CA > A 1-: I C N > (p K a O E 2 E U. Vd 69 69 V)69 69 69 V)V)V)69 69 69 V)V)V)N 69 Vi 69 V)69 69 69 69 V)V)V>69 69 O COCOCOCOCO (D COCD COCOCOCOCOCO COCO (D CO COCD COCOCOCOCO . CO ¢ °� ce c ( N 0 roaocococoaoaocoroaococomao00ccocomaocoaocoaococo I (n c c 8t. ' ' " . 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O a). 69 E9 NVl69 01 Vi(9 V)6969 V!V!69 Vi 69 69 69 69 69 69 61 61 69 69 69 69 69 en V) is a) (A p)O C 0 rn a) 2:2; 0 0 0 c) 0 0 0 0 0 0 0 0 0 C) C) 0 0 C) C) C) C) 0 0 0 C) C) 0 0 C) 0 a) t C C C 0 I- > d a) U E W O• E N F-NL_ ..-a C o> Caa aa)) o 0 T• .) co ! m E -o a) n --1 a) OO ai N O 'N E O a' g - v CO0 COCOCOCOCOCOCOCOCOGO COCOCOCOCOaO aO 0O N (O N a0 aO aO (0 70 E `" (a,�7 a J a)'O 7 CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO 0 00 a0 co co CO 1 P. pEp X 5. 217. G. O C ' . ' ' r n N` n r- r-r n r- 1`N-r- N` n n Ns N` r r n 1s Ns n n h 1 d U N O Tr C) C) M C) C) C) C) (n C) C) co C) C) C) C) C) C) C) C) co C)C) C) M C) C) 1 C .Oa., ▪ ' (O (O CO CO CO CO (O (O OO CO CO (O OD (0 (O (D (D CO (O (O CO (O CO CO (D CO 0)LI. Ca 0 Iii O co 7 I Cr.C:C C C C V V C C Cr Cr.V Cr C C:C Cr.C C C C C C:C Cr I 'C♦- .7.E N O CO I a) C > a) ..L. J 69 69 69 Vl 69 V)Vf 69 69 64 69 69 V)69 69 V)V)V)69 V)V)V)09 69 V)69 69 69 69 V) E 9 O a) C C 7 O (O .- (O N (A CO N C 00 (0 (O (O 0 N N co (O O) OO O 0 r- OO N (O CO (0 C 0 0 C f/) a) ..a)_. O O .- N C) C (O CO N. N O) O N C) •- V' r- .N 7 '0 0 N 6) 113 c ~ F 0 C a) Q Iliw (a a m co 1- O L 0 C O Q Z N 3 Oa co c IX) Evaluation Criteria A. Mandatory 1. The project must be located within a blighted area or an area eligible for a designation of blight as required and set forth by State Statute. The 14th & Leavenworth site is located in a designated Blighted and Substandard Area of the City of Omaha. 2. The project must further the objectives of the City's Comprehensive Plan. As stated by the Omaha City Planning Department Recommendation Report dated April 27, 2011, the proposed project is "consistent with and carries out the goals and objectives of the City of Omaha Master Plan". 3. The use of TIF for the project will not result in a loss of pre-existing tax revenues to the City and other taxing jurisdictions. The Tax Increment Financing request proposes to utilize only the increase in property taxes resulting from the improvements proposed by the developer. Existing tax revenues will continue to accrue to the benefit of the City of Omaha and other taxing jurisdictions. 4. The developer is able to demonstrate that the project would not be economically feasible without the use of Tax Increment Financing. In addition, if the project has site alternatives, the proposal must demonstrate it would not occur in the area without TIF. As demonstrated in Section VIII, this project is not economically feasible without the use of Tax Increment Financing. This project represents a rare opportunity to develop an under-utilized site in Downtown Omaha. 5. The project will eliminate an actual or potential hazard to the public. Hazards may include condemned or unsafe buildings, sites or structures. As noted previously, the site is currently is in disrepair following the demolition of the former Safeway Cabs building. Prior to demolition, the building had been condemned, and the now undeveloped, vacant site presents potential hazards to the public that would be eliminated through this project. The project will also replace deteriorated sidewalks and alleys adjacent to the site. a- O L y fa M CO 0 • . X 0 Q Orr O N r C C N N r N C N X 43 CD CD CD • 7 CO ❑ ❑ ino re + + + N .L L -0 C r r r co r m 0 Ce 0 O N LL + C E (a a) J 0 - a) = � a) C O M CO M N M Mr rr r-Mrrr N NL O O C Cr) 0 LL r V' 0) C O > C a) X C a) 0 {- 0 C a a) > > N a N LL d 1 N 0 c6 Li V m LY M co a) O Q.O a) aa)) m �_ H ,N CI- N C C f3. 'C a) N ( O o O co U W O . v o `mCU - a) o (XoCO H a) ate) C) r U' >CLO ( D W CLH CO Z 0 Z 0 $ - 6.180 Finish Carpentry-Labor $ 39,550.00 $ - 6.200 Finish Carpentry-Material $ 45,000.00 $ - 6.501 Unit Cabinets $ 67,128.00 Consolidated Kitchens $ - Page 1 of 3 ' a0 a0 N CO.N 06 a0 a0 a0 a0 CO oD CO-OS W W ao oD o0 a0 a0 a0 a0 W o0 00 d R LL I C C C C C C C C C Cr s{ C C C C C C C C C C C C C Cr Cr N CA > A 1-: I C N > (p K a O E 2 E U. Vd 69 69 V)69 69 69 V)V)V)69 69 69 V)V)V)N 69 Vi 69 V)69 69 69 69 V)V)V>69 69 O COCOCOCOCO (D COCD COCOCOCOCOCO COCO (D CO COCD COCOCOCOCO . CO ¢ °� ce c ( N 0 roaocococoaoaocoroaococomao00ccocomaocoaocoaococo I (n c c 8t. ' ' " . C C C C C c c Tr C C C c sr C C C C C C C C C C C C C 1 CD co 7 _N C... _I d f O° a) _ o ULI .c 9 m N En m . 0 I- s- (9(9(9(9(9(9(9(9(9(9(9(969(9(9(9(9(9(9(9(9(9(9(9(9(9(9(9(9(9 O U J C C C C C C C C C C C s)- C C C sr C C Cr Cr C C C C C C 1 COV N ' ' ' ' co co a) (D (D CO CO CO CO CO (O CO (O (O (O CO CO OD OD (O (O co co co co co t O) X 7 co-a0 os co co co-OD 05 6 au m co"co"a0 co"co-a() co'o0 co"a0 co O co"a0 co' I C) II) j C C C C C C C C C C C C C C C C C C C C C C C C C C CO a) IY 69 V)V)V)V>V>69 69 69 69 69 69 V)69 V)69 69 69 V)69 69 V>69(9 69 69 69 to V3 69 69 (O (D CO (0 (D CO (0 (0 CO CO 0 (D (0 CO O O (O CO CO CO (O CO CO (.D (O (O CO (D (D CO 00 CO COCO CO a) CO CO CO CO CO a) a) co 00 03 CO CO CO CO CO CO CO CO CO CO CO CO co a) x T N- N- N- N. P. N.P. N. N. N. N. N- N- N. 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O a). 69 E9 NVl69 01 Vi(9 V)6969 V!V!69 Vi 69 69 69 69 69 69 61 61 69 69 69 69 69 en V) is a) (A p)O C 0 rn a) 2:2; 0 0 0 c) 0 0 0 0 0 0 0 0 0 C) C) 0 0 C) C) C) C) 0 0 0 C) C) 0 0 C) 0 a) t C C C 0 I- > d a) U E W O• E N F-NL_ ..-a C o> Caa aa)) o 0 T• .) co ! m E -o a) n --1 a) OO ai N O 'N E O a' g - v CO0 COCOCOCOCOCOCOCOCOGO COCOCOCOCOaO aO 0O N (O N a0 aO aO (0 70 E `" (a,�7 a J a)'O 7 CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO 0 00 a0 co co CO 1 P. pEp X 5. 217. G. O C ' . ' ' r n N` n r- r-r n r- 1`N-r- N` n n Ns N` r r n 1s Ns n n h 1 d U N O Tr C) C) M C) C) C) C) (n C) C) co C) C) C) C) C) C) C) C) co C)C) C) M C) C) 1 C .Oa., ▪ ' (O (O CO CO CO CO (O (O OO CO CO (O OD (0 (O (D (D CO (O (O CO (O CO CO (D CO 0)LI. Ca 0 Iii O co 7 I Cr.C:C C C C V V C C Cr Cr.V Cr C C:C Cr.C C C C C C:C Cr I 'C♦- .7.E N O CO I a) C > a) ..L. J 69 69 69 Vl 69 V)Vf 69 69 64 69 69 V)69 69 V)V)V)69 V)V)V)09 69 V)69 69 69 69 V) E 9 O a) C C 7 O (O .- (O N (A CO N C 00 (0 (O (O 0 N N co (O O) OO O 0 r- OO N (O CO (0 C 0 0 C f/) a) ..a)_. O O .- N C) C (O CO N. N O) O N C) •- V' r- .N 7 '0 0 N 6) 113 c ~ F 0 C a) Q Iliw (a a m co 1- O L 0 C O Q Z N 3 Oa co c B. Discretionary 1. The project will create one new business operating the rental property, Lofts at 14th, LLC, and approximately one FTE new job. 2. The project is located within Downtown Omaha, an area that has been designated as blighted and substandard. 3. TIF proceeds will be used for the construction of all public improvements required by the City of Omaha's Planning and Public Works Departments. 4. The project site displays conditions of blight and constitutes an economic and social liability detrimental to the continued growth of Downtown Omaha, the Old Market Historic District and the continued viability of several historic buildings in proximity to the site including the historic Lofts at 15th building immediately to the west of the project site. 6. The site that is to be redeveloped itself displays conditions of blight as established by Nebraska State Statute. This project has already provided for the demolition of the condemned former Safeway Cabs building. Given the former building on the site and in its current state following building demolition, the site possesses deteriorated structures, deterioration of site improvements, declining property tax assessments, the existence of conditions which endanger the public and property. The average age of other properties in the area exceeds forty (40) years, and the area will be enhanced by new construction and additional residential activity created. 8. The redevelopment site has displayed a recent pattern of declining real property assessments, as measured by the Douglas County Assessor's Office. The 2011 valuation of$435,600 demonstrates a decline from the 2010 level of$482,300. ormer Safeway Cabs building. Prior to demolition, the building had been condemned, and the now undeveloped, vacant site presents potential hazards to the public that would be eliminated through this project. The project will also replace deteriorated sidewalks and alleys adjacent to the site. a- O L y fa M CO 0 • . X 0 Q Orr O N r C C N N r N C N X 43 CD CD CD • 7 CO ❑ ❑ ino re + + + N .L L -0 C r r r co r m 0 Ce 0 O N LL + C E (a a) J 0 - a) = � a) C O M CO M N M Mr rr r-Mrrr N NL O O C Cr) 0 LL r V' 0) C O > C a) X C a) 0 {- 0 C a a) > > N a N LL d 1 N 0 c6 Li V m LY M co a) O Q.O a) aa)) m �_ H ,N CI- N C C f3. 'C a) N ( O o O co U W O . v o `mCU - a) o (XoCO H a) ate) C) r U' >CLO ( D W CLH CO Z 0 Z 0 $ - 6.180 Finish Carpentry-Labor $ 39,550.00 $ - 6.200 Finish Carpentry-Material $ 45,000.00 $ - 6.501 Unit Cabinets $ 67,128.00 Consolidated Kitchens $ - Page 1 of 3 ' a0 a0 N CO.N 06 a0 a0 a0 a0 CO oD CO-OS W W ao oD o0 a0 a0 a0 a0 W o0 00 d R LL I C C C C C C C C C Cr s{ C C C C C C C C C C C C C Cr Cr N CA > A 1-: I C N > (p K a O E 2 E U. Vd 69 69 V)69 69 69 V)V)V)69 69 69 V)V)V)N 69 Vi 69 V)69 69 69 69 V)V)V>69 69 O COCOCOCOCO (D COCD COCOCOCOCOCO COCO (D CO COCD COCOCOCOCO . CO ¢ °� ce c ( N 0 roaocococoaoaocoroaococomao00ccocomaocoaocoaococo I (n c c 8t. ' ' " . C C C C C c c Tr C C C c sr C C C C C C C C C C C C C 1 CD co 7 _N C... _I d f O° a) _ o ULI .c 9 m N En m . 0 I- s- (9(9(9(9(9(9(9(9(9(9(9(969(9(9(9(9(9(9(9(9(9(9(9(9(9(9(9(9(9 O U J C C C C C C C C C C C s)- C C C sr C C Cr Cr C C C C C C 1 COV N ' ' ' ' co co a) (D (D CO CO CO CO CO (O CO (O (O (O CO CO OD OD (O (O co co co co co t O) X 7 co-a0 os co co co-OD 05 6 au m co"co"a0 co"co-a() co'o0 co"a0 co O co"a0 co' I C) II) j C C C C C C C C C C C C C C C C C C C C C C C C C C CO a) IY 69 V)V)V)V>V>69 69 69 69 69 69 V)69 V)69 69 69 V)69 69 V>69(9 69 69 69 to V3 69 69 (O (D CO (0 (D CO (0 (0 CO CO 0 (D (0 CO O O (O CO CO CO (O CO CO (.D (O (O CO (D (D CO 00 CO COCO CO a) CO CO CO CO CO a) a) co 00 03 CO CO CO CO CO CO CO CO CO CO CO CO co a) x T N- N- N- N. P. N.P. N. N. N. N. N- N- N. 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O a). 69 E9 NVl69 01 Vi(9 V)6969 V!V!69 Vi 69 69 69 69 69 69 61 61 69 69 69 69 69 en V) is a) (A p)O C 0 rn a) 2:2; 0 0 0 c) 0 0 0 0 0 0 0 0 0 C) C) 0 0 C) C) C) C) 0 0 0 C) C) 0 0 C) 0 a) t C C C 0 I- > d a) U E W O• E N F-NL_ ..-a C o> Caa aa)) o 0 T• .) co ! m E -o a) n --1 a) OO ai N O 'N E O a' g - v CO0 COCOCOCOCOCOCOCOCOGO COCOCOCOCOaO aO 0O N (O N a0 aO aO (0 70 E `" (a,�7 a J a)'O 7 CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO 0 00 a0 co co CO 1 P. pEp X 5. 217. G. O C ' . ' ' r n N` n r- r-r n r- 1`N-r- N` n n Ns N` r r n 1s Ns n n h 1 d U N O Tr C) C) M C) C) C) C) (n C) C) co C) C) C) C) C) C) C) C) co C)C) C) M C) C) 1 C .Oa., ▪ ' (O (O CO CO CO CO (O (O OO CO CO (O OD (0 (O (D (D CO (O (O CO (O CO CO (D CO 0)LI. Ca 0 Iii O co 7 I Cr.C:C C C C V V C C Cr Cr.V Cr C C:C Cr.C C C C C C:C Cr I 'C♦- .7.E N O CO I a) C > a) ..L. J 69 69 69 Vl 69 V)Vf 69 69 64 69 69 V)69 69 V)V)V)69 V)V)V)09 69 V)69 69 69 69 V) E 9 O a) C C 7 O (O .- (O N (A CO N C 00 (0 (O (O 0 N N co (O O) OO O 0 r- OO N (O CO (0 C 0 0 C f/) a) ..a)_. O O .- N C) C (O CO N. N O) O N C) •- V' r- .N 7 '0 0 N 6) 113 c ~ F 0 C a) Q Iliw (a a m co 1- O L 0 C O Q Z N 3 Oa co c EMPLOYMENT INFORMATION Permanent Jobs (FTE) to be CREATED 1 Permanent Jobs (FTE) to be RETAINED Permanent Jobs (FTE) to be RELOCATED TOTAL 1 Anticipated Annual Payroll $ 20,000 Estimated number of construction jobs to be created during 70 construction phase RESIDENTIAL UNIT INFORMATION Multifamily Rental Number of Units Unit Mix 3 Studio 32 1 bedroom 7 2 bedroom Total Units 42 , , ___L _ E, - , ....._____ ___, • El ......,. __. .... .___ _ .....___ , _ ,_. _ .... _ _ ealk.NM(.M" 1.111.11.0.1r0110 iimMIWOMMICa 1.� X) Cost-Benefit Analysis 1. Tax shifts resulting from granting of tax incentives This project will create an entirely new tax base with no resulting tax shifts. 2. Public infrastructure and community public service needs impacts and local tax impacts arising from projects receiving incentives This project will provide new public infrastructure such as parking, sidewalks and alleys adjacent to the site. It will benefit public service needs by providing housing in the downtown area, reducing the vehicles and corresponding public service needs such as roads. Over the long term, it will provide additional local tax revenues. 3. Impacts on employers and employees of firms receiving tax incentives Since this project needs TIF to move forward, tax incentives will allow for additional opportunities for the employers and employees involved in this project benefitting development, financing, design, construction and property management industries. 4. Impacts on those Nebraska employers and employees not receiving direct incentives or benefits This project will stimulate economic activity and jobs, which will have an indirect benefit on Nebraska employers and employees not receiving direct incentives or benefits. For example, construction workers involved in the project will likely support restaurants in the vicinity of the project site during the construction period. Following construction, new downtown residents will have a similar effect. 5. Any other impacts relevant to the consideration of costs and benefits arising from the tax incentive program. This project will help to further develop Downtown Omaha and catalyze development in the areas south and west of the Old Market. 300. ormer Safeway Cabs building. Prior to demolition, the building had been condemned, and the now undeveloped, vacant site presents potential hazards to the public that would be eliminated through this project. The project will also replace deteriorated sidewalks and alleys adjacent to the site. a- O L y fa M CO 0 • . X 0 Q Orr O N r C C N N r N C N X 43 CD CD CD • 7 CO ❑ ❑ ino re + + + N .L L -0 C r r r co r m 0 Ce 0 O N LL + C E (a a) J 0 - a) = � a) C O M CO M N M Mr rr r-Mrrr N NL O O C Cr) 0 LL r V' 0) C O > C a) X C a) 0 {- 0 C a a) > > N a N LL d 1 N 0 c6 Li V m LY M co a) O Q.O a) aa)) m �_ H ,N CI- N C C f3. 'C a) N ( O o O co U W O . v o `mCU - a) o (XoCO H a) ate) C) r U' >CLO ( D W CLH CO Z 0 Z 0 $ - 6.180 Finish Carpentry-Labor $ 39,550.00 $ - 6.200 Finish Carpentry-Material $ 45,000.00 $ - 6.501 Unit Cabinets $ 67,128.00 Consolidated Kitchens $ - Page 1 of 3 ' a0 a0 N CO.N 06 a0 a0 a0 a0 CO oD CO-OS W W ao oD o0 a0 a0 a0 a0 W o0 00 d R LL I C C C C C C C C C Cr s{ C C C C C C C C C C C C C Cr Cr N CA > A 1-: I C N > (p K a O E 2 E U. Vd 69 69 V)69 69 69 V)V)V)69 69 69 V)V)V)N 69 Vi 69 V)69 69 69 69 V)V)V>69 69 O COCOCOCOCO (D COCD COCOCOCOCOCO COCO (D CO COCD COCOCOCOCO . 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O a). 69 E9 NVl69 01 Vi(9 V)6969 V!V!69 Vi 69 69 69 69 69 69 61 61 69 69 69 69 69 en V) is a) (A p)O C 0 rn a) 2:2; 0 0 0 c) 0 0 0 0 0 0 0 0 0 C) C) 0 0 C) C) C) C) 0 0 0 C) C) 0 0 C) 0 a) t C C C 0 I- > d a) U E W O• E N F-NL_ ..-a C o> Caa aa)) o 0 T• .) co ! m E -o a) n --1 a) OO ai N O 'N E O a' g - v CO0 COCOCOCOCOCOCOCOCOGO COCOCOCOCOaO aO 0O N (O N a0 aO aO (0 70 E `" (a,�7 a J a)'O 7 CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO 0 00 a0 co co CO 1 P. pEp X 5. 217. G. O C ' . ' ' r n N` n r- r-r n r- 1`N-r- N` n n Ns N` r r n 1s Ns n n h 1 d U N O Tr C) C) M C) C) C) C) (n C) C) co C) C) C) C) C) C) C) C) co C)C) C) M C) C) 1 C .Oa., ▪ ' (O (O CO CO CO CO (O (O OO CO CO (O OD (0 (O (D (D CO (O (O CO (O CO CO (D CO 0)LI. Ca 0 Iii O co 7 I Cr.C:C C C C V V C C Cr Cr.V Cr C C:C Cr.C C C C C C:C Cr I 'C♦- .7.E N O CO I a) C > a) ..L. J 69 69 69 Vl 69 V)Vf 69 69 64 69 69 V)69 69 V)V)V)69 V)V)V)09 69 V)69 69 69 69 V) E 9 O a) C C 7 O (O .- (O N (A CO N C 00 (0 (O (O 0 N N co (O O) OO O 0 r- OO N (O CO (0 C 0 0 C f/) a) ..a)_. O O .- N C) C (O CO N. N O) O N C) •- V' r- .N 7 '0 0 N 6) 113 c ~ F 0 C a) Q Iliw (a a m co 1- O L 0 C O Q Z N 3 Oa co c XI) Organizational Documentation Please see Attachment E. 1 Permanent Jobs (FTE) to be RETAINED Permanent Jobs (FTE) to be RELOCATED TOTAL 1 Anticipated Annual Payroll $ 20,000 Estimated number of construction jobs to be created during 70 construction phase RESIDENTIAL UNIT INFORMATION Multifamily Rental Number of Units Unit Mix 3 Studio 32 1 bedroom 7 2 bedroom Total Units 42 , , ___L _ E, - , ....._____ ___, • El ......,. __. .... .___ _ .....___ , _ ,_. _ .... _ _ ealk.NM(.M" 1.111.11.0.1r0110 iimMIWOMMICa 1.� AMERICA FIRST Real Estate Group 14th & Leavenworth . TIF Application .N.. / . 1 I 4- , i [ .] . ,---....1[::::] ..-441111j,.... - _ . .... ........, _..1...: ....... ........ ,,,,, . , . . ..... „..., 1 ....., . . ......._ .._ !'''' [1] '-'-''''-'"`".^. ..,. re. ...,.... `:. AI►i'/' ` \ I Ei �_ 0 -� 11 �``�._ 0 . �- --._ _ _,_ s. _= �`'` 11 riu LIT... _„.., ________________ m 1 _ ___. _....„..... u ,..., oi Ci CD 7 • N' O O_ 7 7 ^rrrwo err rrir� ".w _ This project will stimulate economic activity and jobs, which will have an indirect benefit on Nebraska employers and employees not receiving direct incentives or benefits. For example, construction workers involved in the project will likely support restaurants in the vicinity of the project site during the construction period. Following construction, new downtown residents will have a similar effect. 5. Any other impacts relevant to the consideration of costs and benefits arising from the tax incentive program. This project will help to further develop Downtown Omaha and catalyze development in the areas south and west of the Old Market. 300. ormer Safeway Cabs building. Prior to demolition, the building had been condemned, and the now undeveloped, vacant site presents potential hazards to the public that would be eliminated through this project. The project will also replace deteriorated sidewalks and alleys adjacent to the site. a- O L y fa M CO 0 • . X 0 Q Orr O N r C C N N r N C N X 43 CD CD CD • 7 CO ❑ ❑ ino re + + + N .L L -0 C r r r co r m 0 Ce 0 O N LL + C E (a a) J 0 - a) = � a) C O M CO M N M Mr rr r-Mrrr N NL O O C Cr) 0 LL r V' 0) C O > C a) X C a) 0 {- 0 C a a) > > N a N LL d 1 N 0 c6 Li V m LY M co a) O Q.O a) aa)) m �_ H ,N CI- N C C f3. 'C a) N ( O o O co U W O . v o `mCU - a) o (XoCO H a) ate) C) r U' >CLO ( D W CLH CO Z 0 Z 0 $ - 6.180 Finish Carpentry-Labor $ 39,550.00 $ - 6.200 Finish Carpentry-Material $ 45,000.00 $ - 6.501 Unit Cabinets $ 67,128.00 Consolidated Kitchens $ - Page 1 of 3 ' a0 a0 N CO.N 06 a0 a0 a0 a0 CO oD CO-OS W W ao oD o0 a0 a0 a0 a0 W o0 00 d R LL I C C C C C C C C C Cr s{ C C C C C C C C C C C C C Cr Cr N CA > A 1-: I C N > (p K a O E 2 E U. Vd 69 69 V)69 69 69 V)V)V)69 69 69 V)V)V)N 69 Vi 69 V)69 69 69 69 V)V)V>69 69 O COCOCOCOCO (D COCD COCOCOCOCOCO COCO (D CO COCD COCOCOCOCO . CO ¢ °� ce c ( N 0 roaocococoaoaocoroaococomao00ccocomaocoaocoaococo I (n c c 8t. ' ' " . C C C C C c c Tr C C C c sr C C C C C C C C C C C C C 1 CD co 7 _N C... _I d f O° a) _ o ULI .c 9 m N En m . 0 I- s- (9(9(9(9(9(9(9(9(9(9(9(969(9(9(9(9(9(9(9(9(9(9(9(9(9(9(9(9(9 O U J C C C C C C C C C C C s)- C C C sr C C Cr Cr C C C C C C 1 COV N ' ' ' ' co co a) (D (D CO CO CO CO CO (O CO (O (O (O CO CO OD OD (O (O co co co co co t O) X 7 co-a0 os co co co-OD 05 6 au m co"co"a0 co"co-a() co'o0 co"a0 co O co"a0 co' I C) II) j C C C C C C C C C C C C C C C C C C C C C C C C C C CO a) IY 69 V)V)V)V>V>69 69 69 69 69 69 V)69 V)69 69 69 V)69 69 V>69(9 69 69 69 to V3 69 69 (O (D CO (0 (D CO (0 (0 CO CO 0 (D (0 CO O O (O CO CO CO (O CO CO (.D (O (O CO (D (D CO 00 CO COCO CO a) CO CO CO CO CO a) a) co 00 03 CO CO CO CO CO CO CO CO CO CO CO CO co a) x T N- N- N- N. P. N.P. N. N. N. N. N- N- N. N- N N- N-N N-n N- N- N- N N- N- N- N- n Id I N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N --1 co a) E co co CO CO CO aO aO O 00 a0 a0 CO aO 03 CO CO aO CO CO CO a) co CO 03 aO CO a) U) a) CO aD a0 oD aO aO a0 CO a0'a0 a0 aO a0 aD a0 fO (0 00 a0 a0 aO a0 oO aO aD I _o N a) - a) CO ' ' ' ' Ns n n h Ns n Ns r n r r r n- n n N N-N-N-N- n r N N- I N 7 co t (L '- C) C) C) C) C) C) C) C)co-co-C) CO C)C) C)C)CO-V) C) C) CO-CO-co co C) C) 1 .L-. U) N F" iA N ca CO CO CO CO CO CD O CO CO CD CD (O CD CD co co co co (D co co co CO CD CO CO I 0 7 p 1- X 7 C C C C C C CV' C Cr.Cr.C C C C Nil sr C C C C C C C C C C I �!- -O 15 c.)F N sr C C C C C C C C C C C C C C C C C-Cr C C C C C V j N O a N..0 N >. O a). 69 E9 NVl69 01 Vi(9 V)6969 V!V!69 Vi 69 69 69 69 69 69 61 61 69 69 69 69 69 en V) is a) (A p)O C 0 rn a) 2:2; 0 0 0 c) 0 0 0 0 0 0 0 0 0 C) C) 0 0 C) C) C) C) 0 0 0 C) C) 0 0 C) 0 a) t C C C 0 I- > d a) U E W O• E N F-NL_ ..-a C o> Caa aa)) o 0 T• .) co ! m E -o a) n --1 a) OO ai N O 'N E O a' g - v CO0 COCOCOCOCOCOCOCOCOGO COCOCOCOCOaO aO 0O N (O N a0 aO aO (0 70 E `" (a,�7 a J a)'O 7 CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO 0 00 a0 co co CO 1 P. pEp X 5. 217. G. O C ' . ' ' r n N` n r- r-r n r- 1`N-r- N` n n Ns N` r r n 1s Ns n n h 1 d U N O Tr C) C) M C) C) C) C) (n C) C) co C) C) C) C) C) C) C) C) co C)C) C) M C) C) 1 C .Oa., ▪ ' (O (O CO CO CO CO (O (O OO CO CO (O OD (0 (O (D (D CO (O (O CO (O CO CO (D CO 0)LI. Ca 0 Iii O co 7 I Cr.C:C C C C V V C C Cr Cr.V Cr C C:C Cr.C C C C C C:C Cr I 'C♦- .7.E N O CO I a) C > a) ..L. J 69 69 69 Vl 69 V)Vf 69 69 64 69 69 V)69 69 V)V)V)69 V)V)V)09 69 V)69 69 69 69 V) E 9 O a) C C 7 O (O .- (O N (A CO N C 00 (0 (O (O 0 N N co (O O) OO O 0 r- OO N (O CO (0 C 0 0 C f/) a) ..a)_. O O .- N C) C (O CO N. N O) O N C) •- V' r- .N 7 '0 0 N 6) 113 c ~ F 0 C a) Q Iliw (a a m co 1- O L 0 C O Q Z N 3 Oa co c i • • STATE OF .„, NEBRASKA . .,x ° '� r cxcr +key United States of America, yl�N 1_ 4/ 4 Department of State State of Nebraska ss• Lincoln,Nebraska I I, John A. Gale, Secretary of State of Nebraska do hereby certify; the attached is a true and correct copy of the Certificate of Organization of LOFTS AT 14TH, LLC with its registered agent located in OMAHA, Nebraska, as filed in this office on April 26, 2011. In Testimony Whereof, I have hereunto set my hand and affixed the Great Seal of the State of Nebraska on April 26, 2011. 4. J/ tk_________,_ ',.°' *_ *,`°4- `.,: - ` SECRETARY OF STATE x �r j .11`A�IfY�Yi.I�4' .t .,, it, :77--4 ' °...lrg al*A - 0 ti� 41 ,,..• two' 41\c `"‘A/ i a *; �.� This certificate is not to be construed as an endorsement, aE '.. --� 3 ' recommendation, or notice of approval of the entity's t •�� f $ ' - financial condition or business activities and practices. entives or benefits. For example, construction workers involved in the project will likely support restaurants in the vicinity of the project site during the construction period. Following construction, new downtown residents will have a similar effect. 5. Any other impacts relevant to the consideration of costs and benefits arising from the tax incentive program. This project will help to further develop Downtown Omaha and catalyze development in the areas south and west of the Old Market. 300. ormer Safeway Cabs building. Prior to demolition, the building had been condemned, and the now undeveloped, vacant site presents potential hazards to the public that would be eliminated through this project. The project will also replace deteriorated sidewalks and alleys adjacent to the site. a- O L y fa M CO 0 • . X 0 Q Orr O N r C C N N r N C N X 43 CD CD CD • 7 CO ❑ ❑ ino re + + + N .L L -0 C r r r co r m 0 Ce 0 O N LL + C E (a a) J 0 - a) = � a) C O M CO M N M Mr rr r-Mrrr N NL O O C Cr) 0 LL r V' 0) C O > C a) X C a) 0 {- 0 C a a) > > N a N LL d 1 N 0 c6 Li V m LY M co a) O Q.O a) aa)) m �_ H ,N CI- N C C f3. 'C a) N ( O o O co U W O . v o `mCU - a) o (XoCO H a) ate) C) r U' >CLO ( D W CLH CO Z 0 Z 0 $ - 6.180 Finish Carpentry-Labor $ 39,550.00 $ - 6.200 Finish Carpentry-Material $ 45,000.00 $ - 6.501 Unit Cabinets $ 67,128.00 Consolidated Kitchens $ - Page 1 of 3 ' a0 a0 N CO.N 06 a0 a0 a0 a0 CO oD CO-OS W W ao oD o0 a0 a0 a0 a0 W o0 00 d R LL I C C C C C C C C C Cr s{ C C C C C C C C C C C C C Cr Cr N CA > A 1-: I C N > (p K a O E 2 E U. Vd 69 69 V)69 69 69 V)V)V)69 69 69 V)V)V)N 69 Vi 69 V)69 69 69 69 V)V)V>69 69 O COCOCOCOCO (D COCD COCOCOCOCOCO COCO (D CO COCD COCOCOCOCO . CO ¢ °� ce c ( N 0 roaocococoaoaocoroaococomao00ccocomaocoaocoaococo I (n c c 8t. ' ' " . C C C C C c c Tr C C C c sr C C C C C C C C C C C C C 1 CD co 7 _N C... _I d f O° a) _ o ULI .c 9 m N En m . 0 I- s- (9(9(9(9(9(9(9(9(9(9(9(969(9(9(9(9(9(9(9(9(9(9(9(9(9(9(9(9(9 O U J C C C C C C C C C C C s)- C C C sr C C Cr Cr C C C C C C 1 COV N ' ' ' ' co co a) (D (D CO CO CO CO CO (O CO (O (O (O CO CO OD OD (O (O co co co co co t O) X 7 co-a0 os co co co-OD 05 6 au m co"co"a0 co"co-a() co'o0 co"a0 co O co"a0 co' I C) II) j C C C C C C C C C C C C C C C C C C C C C C C C C C CO a) IY 69 V)V)V)V>V>69 69 69 69 69 69 V)69 V)69 69 69 V)69 69 V>69(9 69 69 69 to V3 69 69 (O (D CO (0 (D CO (0 (0 CO CO 0 (D (0 CO O O (O CO CO CO (O CO CO (.D (O (O CO (D (D CO 00 CO COCO CO a) CO CO CO CO CO a) a) co 00 03 CO CO CO CO CO CO CO CO CO CO CO CO co a) x T N- N- N- N. P. N.P. N. N. N. N. N- N- N. 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O a). 69 E9 NVl69 01 Vi(9 V)6969 V!V!69 Vi 69 69 69 69 69 69 61 61 69 69 69 69 69 en V) is a) (A p)O C 0 rn a) 2:2; 0 0 0 c) 0 0 0 0 0 0 0 0 0 C) C) 0 0 C) C) C) C) 0 0 0 C) C) 0 0 C) 0 a) t C C C 0 I- > d a) U E W O• E N F-NL_ ..-a C o> Caa aa)) o 0 T• .) co ! m E -o a) n --1 a) OO ai N O 'N E O a' g - v CO0 COCOCOCOCOCOCOCOCOGO COCOCOCOCOaO aO 0O N (O N a0 aO aO (0 70 E `" (a,�7 a J a)'O 7 CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO 0 00 a0 co co CO 1 P. pEp X 5. 217. G. O C ' . ' ' r n N` n r- r-r n r- 1`N-r- N` n n Ns N` r r n 1s Ns n n h 1 d U N O Tr C) C) M C) C) C) C) (n C) C) co C) C) C) C) C) C) C) C) co C)C) C) M C) C) 1 C .Oa., ▪ ' (O (O CO CO CO CO (O (O OO CO CO (O OD (0 (O (D (D CO (O (O CO (O CO CO (D CO 0)LI. Ca 0 Iii O co 7 I Cr.C:C C C C V V C C Cr Cr.V Cr C C:C Cr.C C C C C C:C Cr I 'C♦- .7.E N O CO I a) C > a) ..L. J 69 69 69 Vl 69 V)Vf 69 69 64 69 69 V)69 69 V)V)V)69 V)V)V)09 69 V)69 69 69 69 V) E 9 O a) C C 7 O (O .- (O N (A CO N C 00 (0 (O (O 0 N N co (O O) OO O 0 r- OO N (O CO (0 C 0 0 C f/) a) ..a)_. O O .- N C) C (O CO N. N O) O N C) •- V' r- .N 7 '0 0 N 6) 113 c ~ F 0 C a) Q Iliw (a a m co 1- O L 0 C O Q Z N 3 Oa co c NC Sto of Sieto John q Gole - CORP CRTO I!11!!!1111!11111 ill!!i1II1Ill11 HIII!Il! 1001059731 Pas: 2 LOFTS AT 14TH, LLC Filed. 04/26/2011 01:43 PM CERTIFICATE OF ORGANIZATION OF LOFTS AT 14TH, LLC 1. Name. The name of the limited liability company is: Lofts at 14th, LLC (the "Company"). 2. Purpose. The Company is organized to engage in any lawful business permitted under the laws of the State of Nebraska and the Nebraska Uniform Limited Liability Company Act (the"Act"). 3. Designated Office. The Initial Designated Office of the Company is: 1004 Farnam Street, Suite 400, Omaha,Nebraska 68102. 4. Agent for Service of Process. The Initial Agent in Nebraska for service of process is: Thomas McLeay, 1004 Farnam Street, Suite 400, Omaha,NE 68102. IN WITNESS WHEREOF, the undersigned, as an authorized person for the Company, hereby executes this Certificate of Organization on this 6 day of April, 2011. AUTHORIZED PERSON: 7g Thomas H. McLeay rganizcr financial condition or business activities and practices. entives or benefits. For example, construction workers involved in the project will likely support restaurants in the vicinity of the project site during the construction period. Following construction, new downtown residents will have a similar effect. 5. Any other impacts relevant to the consideration of costs and benefits arising from the tax incentive program. This project will help to further develop Downtown Omaha and catalyze development in the areas south and west of the Old Market. 300. ormer Safeway Cabs building. Prior to demolition, the building had been condemned, and the now undeveloped, vacant site presents potential hazards to the public that would be eliminated through this project. The project will also replace deteriorated sidewalks and alleys adjacent to the site. a- O L y fa M CO 0 • . X 0 Q Orr O N r C C N N r N C N X 43 CD CD CD • 7 CO ❑ ❑ ino re + + + N .L L -0 C r r r co r m 0 Ce 0 O N LL + C E (a a) J 0 - a) = � a) C O M CO M N M Mr rr r-Mrrr N NL O O C Cr) 0 LL r V' 0) C O > C a) X C a) 0 {- 0 C a a) > > N a N LL d 1 N 0 c6 Li V m LY M co a) O Q.O a) aa)) m �_ H ,N CI- N C C f3. 'C a) N ( O o O co U W O . v o `mCU - a) o (XoCO H a) ate) C) r U' >CLO ( D W CLH CO Z 0 Z 0 $ - 6.180 Finish Carpentry-Labor $ 39,550.00 $ - 6.200 Finish Carpentry-Material $ 45,000.00 $ - 6.501 Unit Cabinets $ 67,128.00 Consolidated Kitchens $ - Page 1 of 3 ' a0 a0 N CO.N 06 a0 a0 a0 a0 CO oD CO-OS W W ao oD o0 a0 a0 a0 a0 W o0 00 d R LL I C C C C C C C C C Cr s{ C C C C C C C C C C C C C Cr Cr N CA > A 1-: I C N > (p K a O E 2 E U. Vd 69 69 V)69 69 69 V)V)V)69 69 69 V)V)V)N 69 Vi 69 V)69 69 69 69 V)V)V>69 69 O COCOCOCOCO (D COCD COCOCOCOCOCO COCO (D CO COCD COCOCOCOCO . CO ¢ °� ce c ( N 0 roaocococoaoaocoroaococomao00ccocomaocoaocoaococo I (n c c 8t. ' ' " . 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For example, construction workers involved in the project will likely support restaurants in the vicinity of the project site during the construction period. Following construction, new downtown residents will have a similar effect. 5. Any other impacts relevant to the consideration of costs and benefits arising from the tax incentive program. This project will help to further develop Downtown Omaha and catalyze development in the areas south and west of the Old Market. 300. ormer Safeway Cabs building. Prior to demolition, the building had been condemned, and the now undeveloped, vacant site presents potential hazards to the public that would be eliminated through this project. The project will also replace deteriorated sidewalks and alleys adjacent to the site. a- O L y fa M CO 0 • . X 0 Q Orr O N r C C N N r N C N X 43 CD CD CD • 7 CO ❑ ❑ ino re + + + N .L L -0 C r r r co r m 0 Ce 0 O N LL + C E (a a) J 0 - a) = � a) C O M CO M N M Mr rr r-Mrrr N NL O O C Cr) 0 LL r V' 0) C O > C a) X C a) 0 {- 0 C a a) > > N a N LL d 1 N 0 c6 Li V m LY M co a) O Q.O a) aa)) m �_ H ,N CI- N C C f3. 'C a) N ( O o O co U W O . v o `mCU - a) o (XoCO H a) ate) C) r U' >CLO ( D W CLH CO Z 0 Z 0 $ - 6.180 Finish Carpentry-Labor $ 39,550.00 $ - 6.200 Finish Carpentry-Material $ 45,000.00 $ - 6.501 Unit Cabinets $ 67,128.00 Consolidated Kitchens $ - Page 1 of 3 ' a0 a0 N CO.N 06 a0 a0 a0 a0 CO oD CO-OS W W ao oD o0 a0 a0 a0 a0 W o0 00 d R LL I C C C C C C C C C Cr s{ C C C C C C C C C C C C C Cr Cr N CA > A 1-: I C N > (p K a O E 2 E U. Vd 69 69 V)69 69 69 V)V)V)69 69 69 V)V)V)N 69 Vi 69 V)69 69 69 69 V)V)V>69 69 O COCOCOCOCO (D COCD COCOCOCOCOCO COCO (D CO COCD COCOCOCOCO . CO ¢ °� ce c ( N 0 roaocococoaoaocoroaococomao00ccocomaocoaocoaococo I (n c c 8t. ' ' " . 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O a). 69 E9 NVl69 01 Vi(9 V)6969 V!V!69 Vi 69 69 69 69 69 69 61 61 69 69 69 69 69 en V) is a) (A p)O C 0 rn a) 2:2; 0 0 0 c) 0 0 0 0 0 0 0 0 0 C) C) 0 0 C) C) C) C) 0 0 0 C) C) 0 0 C) 0 a) t C C C 0 I- > d a) U E W O• E N F-NL_ ..-a C o> Caa aa)) o 0 T• .) co ! m E -o a) n --1 a) OO ai N O 'N E O a' g - v CO0 COCOCOCOCOCOCOCOCOGO COCOCOCOCOaO aO 0O N (O N a0 aO aO (0 70 E `" (a,�7 a J a)'O 7 CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO 0 00 a0 co co CO 1 P. pEp X 5. 217. G. O C ' . ' ' r n N` n r- r-r n r- 1`N-r- N` n n Ns N` r r n 1s Ns n n h 1 d U N O Tr C) C) M C) C) C) C) (n C) C) co C) C) C) C) C) C) C) C) co C)C) C) M C) C) 1 C .Oa., ▪ ' (O (O CO CO CO CO (O (O OO CO CO (O OD (0 (O (D (D CO (O (O CO (O CO CO (D CO 0)LI. Ca 0 Iii O co 7 I Cr.C:C C C C V V C C Cr Cr.V Cr C C:C Cr.C C C C C C:C Cr I 'C♦- .7.E N O CO I a) C > a) ..L. J 69 69 69 Vl 69 V)Vf 69 69 64 69 69 V)69 69 V)V)V)69 V)V)V)09 69 V)69 69 69 69 V) E 9 O a) C C 7 O (O .- (O N (A CO N C 00 (0 (O (O 0 N N co (O O) OO O 0 r- OO N (O CO (0 C 0 0 C f/) a) ..a)_. O O .- N C) C (O CO N. N O) O N C) •- V' r- .N 7 '0 0 N 6) 113 c ~ F 0 C a) Q Iliw (a a m co 1- O L 0 C O Q Z N 3 Oa co c • AMERICA FIRST Real Estate Group May 2, 2011 Mr. Paul Kratz Omaha City Attorney 1819 Farnam Street, Suite 804 Omaha,NE 68183 Re: 14th &Leavenworth TIF Application Financial Statements Dear Mr. Kratz: This letter is in response to the requested financial statements for Lofts at 14th, LLC as part of its application for Tax Increment Financing for a proposed development at 14t" and Leavenworth Streets. Lofts at 14t", LLC is a subsidiary of America First Real Estate Group, LLC, which is a subsidiary of The Burlington Capital Group LLC. Lofts at 14t", LLC is a single- purpose entity formed to own this project. These entities are privately held, however we agree to permit access to financial information for these entities at our office located at 1004 Farnam Street, Suite 400, Omaha, NE 68102. The City of Omaha agrees that it will not disclose, communicate or reveal to any other person, firm or corporation, and will not use any financial information, directly or indirectly, for any purpose other than to consider the proposed business relationship, without the prior written consent of America First Real Estate Group, LLC. If you should have any questions or concerns regarding this matter, please feel free to contact me. Sincerely, 4411",e°7" . Dominic Vaccaro Vice President ONE BURLINGTON PLACE, 1004 FARNAM STREET,SUITE 400,OMAHA,NEBRASKA 68102 402.444.1630 PHONE 402.930.3047 FAX WWW.AFREG.COM program. This project will help to further develop Downtown Omaha and catalyze development in the areas south and west of the Old Market. 300. ormer Safeway Cabs building. Prior to demolition, the building had been condemned, and the now undeveloped, vacant site presents potential hazards to the public that would be eliminated through this project. The project will also replace deteriorated sidewalks and alleys adjacent to the site. a- O L y fa M CO 0 • . X 0 Q Orr O N r C C N N r N C N X 43 CD CD CD • 7 CO ❑ ❑ ino re + + + N .L L -0 C r r r co r m 0 Ce 0 O N LL + C E (a a) J 0 - a) = � a) C O M CO M N M Mr rr r-Mrrr N NL O O C Cr) 0 LL r V' 0) C O > C a) X C a) 0 {- 0 C a a) > > N a N LL d 1 N 0 c6 Li V m LY M co a) O Q.O a) aa)) m �_ H ,N CI- N C C f3. 'C a) N ( O o O co U W O . v o `mCU - a) o (XoCO H a) ate) C) r U' >CLO ( D W CLH CO Z 0 Z 0 $ - 6.180 Finish Carpentry-Labor $ 39,550.00 $ - 6.200 Finish Carpentry-Material $ 45,000.00 $ - 6.501 Unit Cabinets $ 67,128.00 Consolidated Kitchens $ - Page 1 of 3 ' a0 a0 N CO.N 06 a0 a0 a0 a0 CO oD CO-OS W W ao oD o0 a0 a0 a0 a0 W o0 00 d R LL I C C C C C C C C C Cr s{ C C C C C C C C C C C C C Cr Cr N CA > A 1-: I C N > (p K a O E 2 E U. Vd 69 69 V)69 69 69 V)V)V)69 69 69 V)V)V)N 69 Vi 69 V)69 69 69 69 V)V)V>69 69 O COCOCOCOCO (D COCD COCOCOCOCOCO COCO (D CO COCD COCOCOCOCO . CO ¢ °� ce c ( N 0 roaocococoaoaocoroaococomao00ccocomaocoaocoaococo I (n c c 8t. ' ' " . 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O a). 69 E9 NVl69 01 Vi(9 V)6969 V!V!69 Vi 69 69 69 69 69 69 61 61 69 69 69 69 69 en V) is a) (A p)O C 0 rn a) 2:2; 0 0 0 c) 0 0 0 0 0 0 0 0 0 C) C) 0 0 C) C) C) C) 0 0 0 C) C) 0 0 C) 0 a) t C C C 0 I- > d a) U E W O• E N F-NL_ ..-a C o> Caa aa)) o 0 T• .) co ! m E -o a) n --1 a) OO ai N O 'N E O a' g - v CO0 COCOCOCOCOCOCOCOCOGO COCOCOCOCOaO aO 0O N (O N a0 aO aO (0 70 E `" (a,�7 a J a)'O 7 CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO 0 00 a0 co co CO 1 P. pEp X 5. 217. G. O C ' . ' ' r n N` n r- r-r n r- 1`N-r- N` n n Ns N` r r n 1s Ns n n h 1 d U N O Tr C) C) M C) C) C) C) (n C) C) co C) C) C) C) C) C) C) C) co C)C) C) M C) C) 1 C .Oa., ▪ ' (O (O CO CO CO CO (O (O OO CO CO (O OD (0 (O (D (D CO (O (O CO (O CO CO (D CO 0)LI. Ca 0 Iii O co 7 I Cr.C:C C C C V V C C Cr Cr.V Cr C C:C Cr.C C C C C C:C Cr I 'C♦- .7.E N O CO I a) C > a) ..L. J 69 69 69 Vl 69 V)Vf 69 69 64 69 69 V)69 69 V)V)V)69 V)V)V)09 69 V)69 69 69 69 V) E 9 O a) C C 7 O (O .- (O N (A CO N C 00 (0 (O (O 0 N N co (O O) OO O 0 r- OO N (O CO (0 C 0 0 C f/) a) ..a)_. O O .- N C) C (O CO N. N O) O N C) •- V' r- .N 7 '0 0 N 6) 113 c ~ F 0 C a) Q Iliw (a a m co 1- O L 0 C O Q Z N 3 Oa co c XII) Attachments A— Site Plans & Elevations B —Alta Survey & Legal Description of Project Site C—Preliminary Commitment for Financing D—Construction Project Budget and Project Timeline E—Organizational Documentation F—Financial Statement G—Market Data ring 70 construction phase RESIDENTIAL UNIT INFORMATION Multifamily Rental Number of Units Unit Mix 3 Studio 32 1 bedroom 7 2 bedroom Total Units 42 , , ___L _ E, - , ....._____ ___, • El ......,. __. .... .___ _ .....___ , _ ,_. _ .... _ _ ealk.NM(.M" 1.111.11.0.1r0110 iimMIWOMMICa 1.� * AMERICA FIRST Real Estate Group I 14th & Leavenworth TIF Application 0 INIIIIIII 0I I GO ' A I . [::1 rr,:411110A1.%'' -.. t10-' / „,......_ • 1 _` , 0 -.______ __________, [1 [11 ,... ---- ., 32 1 bedroom 7 2 bedroom Total Units 42 , , ___L _ E, - , ....._____ ___, • El ......,. __. .... .___ _ .....___ , _ ,_. _ .... _ _ ealk.NM(.M" 1.111.11.0.1r0110 iimMIWOMMICa 1.� Market Data Mitchell &Associates, Inc. recently concluded downtown Omaha should continue to see rising values for all real estate uses (see Attachment A). As shown in Figure 1, Omaha has demonstrated low vacancy rates and strong absorption. Figure 1 Construction/Absorption and Vacancy `�• � -6 1,000— Y1 -4 v o d 500- mc Z c 1111 k 16 _ 0 2006 2002 2008 2009 2010 2011 2012 2013 2014 2015 am Vacancy Rate wpg ConStnPaiOn wr Absorption Source:REIS 2011 Downtown Omaha in particular has felt as strain on apartments over the past few years due to apartment/condo conversions. Demand has been strong for new units and America First is certain the Lofts at 14th will be received positively by the market. America First currently owns and manages over 2,500 apartment units in the Omaha Metro, nearly, 500 of which are in the Downtown submarket. Historical occupancy for the downtown properties of Skinner Macaroni Apartments, Orpheum Tower Apartments and Capitol Hill Apartments has exceeded the 95%threshold for the past 5 years. Even with recent new units added to the Downtown/Midtown submarkets, inventory occupancy has remained strong. Average Downtown Occupancy is currently 98%(See Attachment B). Market rent for new construction and older product is strong. For example, 22 Floors, a similar new construction project in downtown Omaha currently receives rents from $1.25/SF - $1.35/SF. After renovating units to market rate,Lofts at 15th (managed by America First)was able to increase rents over 40%and stabilize occupancy quickly upon construction completion. Current occupancy is 94%. According to the City of Omaha's 2009 downtown master plan, Omaha has set a 20 year target of 4,800 new apartments, condos, and other residences in the area. Lofts at 14th will be an opportunity to continue to fulfill Omaha's target as well as provide suitable housing and investment downtown in a climate welcome to receive it. I Robb,Jeffrey. "Downtown Apartments Plans Speed Up."Omaha World Herald 8 June 2011,Print. + + + N .L L -0 C r r r co r m 0 Ce 0 O N LL + C E (a a) J 0 - a) = � a) C O M CO M N M Mr rr r-Mrrr N NL O O C Cr) 0 LL r V' 0) C O > C a) X C a) 0 {- 0 C a a) > > N a N LL d 1 N 0 c6 Li V m LY M co a) O Q.O a) aa)) m �_ H ,N CI- N C C f3. 'C a) N ( O o O co U W O . v o `mCU - a) o (XoCO H a) ate) C) r U' >CLO ( D W CLH CO Z 0 Z 0 $ - 6.180 Finish Carpentry-Labor $ 39,550.00 $ - 6.200 Finish Carpentry-Material $ 45,000.00 $ - 6.501 Unit Cabinets $ 67,128.00 Consolidated Kitchens $ - Page 1 of 3 ' a0 a0 N CO.N 06 a0 a0 a0 a0 CO oD CO-OS W W ao oD o0 a0 a0 a0 a0 W o0 00 d R LL I C C C C C C C C C Cr s{ C C C C C C C C C C C C C Cr Cr N CA > A 1-: I C N > (p K a O E 2 E U. Vd 69 69 V)69 69 69 V)V)V)69 69 69 V)V)V)N 69 Vi 69 V)69 69 69 69 V)V)V>69 69 O COCOCOCOCO (D COCD COCOCOCOCOCO COCO (D CO COCD COCOCOCOCO . CO ¢ °� ce c ( N 0 roaocococoaoaocoroaococomao00ccocomaocoaocoaococo I (n c c 8t. ' ' " . C C C C C c c Tr C C C c sr C C C C C C C C C C C C C 1 CD co 7 _N C... _I d f O° a) _ o ULI .c 9 m N En m . 0 I- s- (9(9(9(9(9(9(9(9(9(9(9(969(9(9(9(9(9(9(9(9(9(9(9(9(9(9(9(9(9 O U J C C C C C C C C C C C s)- C C C sr C C Cr Cr C C C C C C 1 COV N ' ' ' ' co co a) (D (D CO CO CO CO CO (O CO (O (O (O CO CO OD OD (O (O co co co co co t O) X 7 co-a0 os co co co-OD 05 6 au m co"co"a0 co"co-a() co'o0 co"a0 co O co"a0 co' I C) II) j C C C C C C C C C C C C C C C C C C C C C C C C C C CO a) IY 69 V)V)V)V>V>69 69 69 69 69 69 V)69 V)69 69 69 V)69 69 V>69(9 69 69 69 to V3 69 69 (O (D CO (0 (D CO (0 (0 CO CO 0 (D (0 CO O O (O CO CO CO (O CO CO (.D (O (O CO (D (D CO 00 CO COCO CO a) CO CO CO CO CO a) a) co 00 03 CO CO CO CO CO CO CO CO CO CO CO CO co a) x T N- N- N- N. P. N.P. N. N. N. N. N- N- N. N- N N- N-N N-n N- N- N- N N- N- N- N- n Id I N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N --1 co a) E co co CO CO CO aO aO O 00 a0 a0 CO aO 03 CO CO aO CO CO CO a) co CO 03 aO CO a) U) a) CO aD a0 oD aO aO a0 CO a0'a0 a0 aO a0 aD a0 fO (0 00 a0 a0 aO a0 oO aO aD I _o N a) - a) CO ' ' ' ' Ns n n h Ns n Ns r n r r r n- n n N N-N-N-N- n r N N- I N 7 co t (L '- C) C) C) C) C) C) C) C)co-co-C) CO C)C) C)C)CO-V) C) C) CO-CO-co co C) C) 1 .L-. U) N F" iA N ca CO CO CO CO CO CD O CO CO CD CD (O CD CD co co co co (D co co co CO CD CO CO I 0 7 p 1- X 7 C C C C C C CV' C Cr.Cr.C C C C Nil sr C C C C C C C C C C I �!- -O 15 c.)F N sr C C C C C C C C C C C C C C C C C-Cr C C C C C V j N O a N..0 N >. O a). 69 E9 NVl69 01 Vi(9 V)6969 V!V!69 Vi 69 69 69 69 69 69 61 61 69 69 69 69 69 en V) is a) (A p)O C 0 rn a) 2:2; 0 0 0 c) 0 0 0 0 0 0 0 0 0 C) C) 0 0 C) C) C) C) 0 0 0 C) C) 0 0 C) 0 a) t C C C 0 I- > d a) U E W O• E N F-NL_ ..-a C o> Caa aa)) o 0 T• .) co ! m E -o a) n --1 a) OO ai N O 'N E O a' g - v CO0 COCOCOCOCOCOCOCOCOGO COCOCOCOCOaO aO 0O N (O N a0 aO aO (0 70 E `" (a,�7 a J a)'O 7 CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO 0 00 a0 co co CO 1 P. pEp X 5. 217. G. O C ' . ' ' r n N` n r- r-r n r- 1`N-r- N` n n Ns N` r r n 1s Ns n n h 1 d U N O Tr C) C) M C) C) C) C) (n C) C) co C) C) C) C) C) C) C) C) co C)C) C) M C) C) 1 C .Oa., ▪ ' (O (O CO CO CO CO (O (O OO CO CO (O OD (0 (O (D (D CO (O (O CO (O CO CO (D CO 0)LI. Ca 0 Iii O co 7 I Cr.C:C C C C V V C C Cr Cr.V Cr C C:C Cr.C C C C C C:C Cr I 'C♦- .7.E N O CO I a) C > a) ..L. J 69 69 69 Vl 69 V)Vf 69 69 64 69 69 V)69 69 V)V)V)69 V)V)V)09 69 V)69 69 69 69 V) E 9 O a) C C 7 O (O .- (O N (A CO N C 00 (0 (O (O 0 N N co (O O) OO O 0 r- OO N (O CO (0 C 0 0 C f/) a) ..a)_. O O .- N C) C (O CO N. N O) O N C) •- V' r- .N 7 '0 0 N 6) 113 c ~ F 0 C a) Q Iliw (a a m co 1- O L 0 C O Q Z N 3 Oa co c Attachment A Mitchell &Associates,Inc., 301 N. 24th Street, Omaha Nebraska Appraisal 2010 th & Leavenworth TIF Application 0 INIIIIIII 0I I GO ' A I . [::1 rr,:411110A1.%'' -.. t10-' / „,......_ • 1 _` , 0 -.______ __________, [1 [11 ,... ---- ., 32 1 bedroom 7 2 bedroom Total Units 42 , , ___L _ E, - , ....._____ ___, • El ......,. __. .... .___ _ .....___ , _ ,_. _ .... _ _ ealk.NM(.M" 1.111.11.0.1r0110 iimMIWOMMICa 1.� METROPOLITAN AREA DESCRIPTION Omaha, largest Nebraska city and Douglas County seat, with estimated population of 394,366 in 2006 is on the east edge of Nebraska, adjacent to the Missouri River and anchor of the Omaha metropolitan area. The city was incorporated in 1857 along the banks of the Missouri River and grew rapidly after President Lincoln located the east terminus of the first transcontinental railroad here 1863 and has expanded generally westward in successive rings of outward growth the next 150 years. Today, Omaha occupies about one-third of Douglas County, radiating from the southeast portion of the county. Douglas County has natural boundaries on two sides with transitioning rural agricultural areas and the communities of Valley and Waterloo in addition the Omaha metropolitan area. The Omaha metropolitan area includes the City of Omaha and the communities immediately adjacent in Douglas and Sarpy Counties in Nebraska and Pottawattamie County in Iowa. The Omaha-Council Bluffs Metropolitan CBSA (Core Based Statistical Area) formerly known as the Metropolitan Statistical Area or MSA incorporates eight counties of Nebraska and Iowa. This area is defined by U.S. Office of Management and Budget as including Douglas, Sarpy, Cass, Saunders, Washington Counties (Nebraska), Harrison, Pottawattamie and Mills Counties • (Iowa). These counties are included in the Omaha CBSA because 25% or more of their populations commute daily to/from the Omaha metropolitan area. This commuting pattern reflects a strong interrelationship between the counties and the larger area behaving, in some respects, like an extended community. SOCIAL CHARACTERISTICS: Population: The Omaha CBSA population was 685,797 in 1990, 767,041 in 2000, estimated at 852,034 in 2009, projected at 893,740 in 2014, representing annual growth rates of 1.13% from 1990 to 2000, 1.14% from 2000 to 2009 and 0.96% from 2009 to 2014. Median age of the population was 34.0 years in 2000, estimated at 35.4 years in 2009 and projected to be 35.6 years in 2014.* Households: Number of households in the CBSA is growing faster than the general population. There were 257,279 households in 1990, 294,502 in 2000, estimated 331,499 in 2009 and projected 349,257 in 2014, representing annual growth of 1.36% from 1990-2000, 1.29% from 2000-2009 and 1.05% from 2009-2014. Average household size has gone from 2.61 in 1990 to 2.55 in 2000, estimated 2.52 in 2009 and projected to fall slightly to 2.51 in 2014. In 2000, 67.1% of households were family units; 32.9% were non-family units (one person or multiple unrelated people); 25.8% of all units were married with children, 26.5% were married without children, 10% were single parent families and 4.7% were other families. * Demographic Profile,Omaha-Council Bluffs CBSA,October 2009,©2009 ESRI Proposed Capitol Rows Apartments Mitchell&Associates, Inc. 301 North 24th Street O Copyright 2010 Page 22 Omaha, Nebraska abor $ 39,550.00 $ - 6.200 Finish Carpentry-Material $ 45,000.00 $ - 6.501 Unit Cabinets $ 67,128.00 Consolidated Kitchens $ - Page 1 of 3 ' a0 a0 N CO.N 06 a0 a0 a0 a0 CO oD CO-OS W W ao oD o0 a0 a0 a0 a0 W o0 00 d R LL I C C C C C C C C C Cr s{ C C C C C C C C C C C C C Cr Cr N CA > A 1-: I C N > (p K a O E 2 E U. Vd 69 69 V)69 69 69 V)V)V)69 69 69 V)V)V)N 69 Vi 69 V)69 69 69 69 V)V)V>69 69 O COCOCOCOCO (D COCD COCOCOCOCOCO COCO (D CO COCD COCOCOCOCO . CO ¢ °� ce c ( N 0 roaocococoaoaocoroaococomao00ccocomaocoaocoaococo I (n c c 8t. ' ' " . C C C C C c c Tr C C C c sr C C C C C C C C C C C C C 1 CD co 7 _N C... _I d f O° a) _ o ULI .c 9 m N En m . 0 I- s- (9(9(9(9(9(9(9(9(9(9(9(969(9(9(9(9(9(9(9(9(9(9(9(9(9(9(9(9(9 O U J C C C C C C C C C C C s)- C C C sr C C Cr Cr C C C C C C 1 COV N ' ' ' ' co co a) (D (D CO CO CO CO CO (O CO (O (O (O CO CO OD OD (O (O co co co co co t O) X 7 co-a0 os co co co-OD 05 6 au m co"co"a0 co"co-a() co'o0 co"a0 co O co"a0 co' I C) II) j C C C C C C C C C C C C C C C C C C C C C C C C C C CO a) IY 69 V)V)V)V>V>69 69 69 69 69 69 V)69 V)69 69 69 V)69 69 V>69(9 69 69 69 to V3 69 69 (O (D CO (0 (D CO (0 (0 CO CO 0 (D (0 CO O O (O CO CO CO (O CO CO (.D (O (O CO (D (D CO 00 CO COCO CO a) CO CO CO CO CO a) a) co 00 03 CO CO CO CO CO CO CO CO CO CO CO CO co a) x T N- N- N- N. P. N.P. N. N. N. N. N- N- N. N- N N- N-N N-n N- N- N- N N- N- N- N- n Id I N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N --1 co a) E co co CO CO CO aO aO O 00 a0 a0 CO aO 03 CO CO aO CO CO CO a) co CO 03 aO CO a) U) a) CO aD a0 oD aO aO a0 CO a0'a0 a0 aO a0 aD a0 fO (0 00 a0 a0 aO a0 oO aO aD I _o N a) - a) CO ' ' ' ' Ns n n h Ns n Ns r n r r r n- n n N N-N-N-N- n r N N- I N 7 co t (L '- C) C) C) C) C) C) C) C)co-co-C) CO C)C) C)C)CO-V) C) C) CO-CO-co co C) C) 1 .L-. U) N F" iA N ca CO CO CO CO CO CD O CO CO CD CD (O CD CD co co co co (D co co co CO CD CO CO I 0 7 p 1- X 7 C C C C C C CV' C Cr.Cr.C C C C Nil sr C C C C C C C C C C I �!- -O 15 c.)F N sr C C C C C C C C C C C C C C C C C-Cr C C C C C V j N O a N..0 N >. O a). 69 E9 NVl69 01 Vi(9 V)6969 V!V!69 Vi 69 69 69 69 69 69 61 61 69 69 69 69 69 en V) is a) (A p)O C 0 rn a) 2:2; 0 0 0 c) 0 0 0 0 0 0 0 0 0 C) C) 0 0 C) C) C) C) 0 0 0 C) C) 0 0 C) 0 a) t C C C 0 I- > d a) U E W O• E N F-NL_ ..-a C o> Caa aa)) o 0 T• .) co ! m E -o a) n --1 a) OO ai N O 'N E O a' g - v CO0 COCOCOCOCOCOCOCOCOGO COCOCOCOCOaO aO 0O N (O N a0 aO aO (0 70 E `" (a,�7 a J a)'O 7 CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO 0 00 a0 co co CO 1 P. pEp X 5. 217. G. O C ' . ' ' r n N` n r- r-r n r- 1`N-r- N` n n Ns N` r r n 1s Ns n n h 1 d U N O Tr C) C) M C) C) C) C) (n C) C) co C) C) C) C) C) C) C) C) co C)C) C) M C) C) 1 C .Oa., ▪ ' (O (O CO CO CO CO (O (O OO CO CO (O OD (0 (O (D (D CO (O (O CO (O CO CO (D CO 0)LI. Ca 0 Iii O co 7 I Cr.C:C C C C V V C C Cr Cr.V Cr C C:C Cr.C C C C C C:C Cr I 'C♦- .7.E N O CO I a) C > a) ..L. J 69 69 69 Vl 69 V)Vf 69 69 64 69 69 V)69 69 V)V)V)69 V)V)V)09 69 V)69 69 69 69 V) E 9 O a) C C 7 O (O .- (O N (A CO N C 00 (0 (O (O 0 N N co (O O) OO O 0 r- OO N (O CO (0 C 0 0 C f/) a) ..a)_. O O .- N C) C (O CO N. N O) O N C) •- V' r- .N 7 '0 0 N 6) 113 c ~ F 0 C a) Q Iliw (a a m co 1- O L 0 C O Q Z N 3 Oa co c METROPOLITAN AREA DESCRIPTION (CONTINUED) Housing: Number of housing units in the metro area increased more slowly than the household growth from 1990-2000, but increased more rapidly since. There were 311,540 housing units in 2000, estimated 358,599 in 2009 and projected 377,560 in 2014, equating to an annual increase of 1.58% from 2000-2009, 1.04% from 2009-2014 and overall residential vacancy of 6.5% in 1990, 5.5% in 2000, 7.6% in 2009 and 7.5% projected in 2014. Median and average housing unit values in the metro area are growing at a rate of about 4.5% per year. Median values were $99,410 in 2000, $117,718 in 2009 and project $127,287 in 2014. Average values were $121,524 in 2000, $143,978 in 2009 and projected $156,660 in 2014.* It is assumed the increase comes from a mix of appreciation of existing housing with influence of higher costs of construction of new homes. Urban Growth Pattern: HDR, Inc. published a 2006 article describing Omaha's historic growth pattern. Excerpt: "Founded on the western edge of the Missouri River, Omaha has traditionally been a river city. During its early years, the city grew north and south along the river. With continued growth, particularly in the late 19th and early 20th century when the city served as a dominant railroad hub for goods and people moving across the United States, the city began expanding in a westerly direction. Today, growth in the metro area is still in a predominantly western direction. For many residents, the intersection of 72nd Street and Dodge Street is the functional and psychological center of the community, even though most of the land around this intersection was undeveloped 50 years ago. The University of Nebraska at Omaha and Memorial Park are located here. The 72nd Street corridor is considered one of Omaha's major retail areas. Development of Omaha's western suburbs currently extends as far west as the community of Elkhorn, located at approximately 204th Street (U.S. Hwy 31). Growth is also occurring to the south of Omaha in Sarpy County, and in Council Bluffs, Iowa, located to the east of the city." Income: Median household and per capita incomes have risen steadily in recent years at a pace slightly faster than inflation, indicating slow but steady growth in real income. Median household incomes in the metro area were $44,650 in 2000, $59,690 in 2009 and a projected at $61,826 in 2014, an annual growth rate of 3.19% from 2000-2009 and 0.71% from 2009-2014.t Annual inflation has been around 2.2% for 2000-2008. Demographic Profile,Omaha-Council Bluffs CBSA,October 2009,©2009 ESRI t Demographic Profile,Omaha-Council Bluffs CBSA,October 2009,©2009 ESRI Proposed Capitol Rows Apartments Mitchell&Associates, Inc. 301 North 24th Street O Copyright 2010 Page 23 Omaha,Nebraska ©2009 ESRI Proposed Capitol Rows Apartments Mitchell&Associates, Inc. 301 North 24th Street O Copyright 2010 Page 22 Omaha, Nebraska abor $ 39,550.00 $ - 6.200 Finish Carpentry-Material $ 45,000.00 $ - 6.501 Unit Cabinets $ 67,128.00 Consolidated Kitchens $ - Page 1 of 3 ' a0 a0 N CO.N 06 a0 a0 a0 a0 CO oD CO-OS W W ao oD o0 a0 a0 a0 a0 W o0 00 d R LL I C C C C C C C C C Cr s{ C C C C C C C C C C C C C Cr Cr N CA > A 1-: I C N > (p K a O E 2 E U. Vd 69 69 V)69 69 69 V)V)V)69 69 69 V)V)V)N 69 Vi 69 V)69 69 69 69 V)V)V>69 69 O COCOCOCOCO (D COCD COCOCOCOCOCO COCO (D CO COCD COCOCOCOCO . CO ¢ °� ce c ( N 0 roaocococoaoaocoroaococomao00ccocomaocoaocoaococo I (n c c 8t. ' ' " . C C C C C c c Tr C C C c sr C C C C C C C C C C C C C 1 CD co 7 _N C... _I d f O° a) _ o ULI .c 9 m N En m . 0 I- s- (9(9(9(9(9(9(9(9(9(9(9(969(9(9(9(9(9(9(9(9(9(9(9(9(9(9(9(9(9 O U J C C C C C C C C C C C s)- C C C sr C C Cr Cr C C C C C C 1 COV N ' ' ' ' co co a) (D (D CO CO CO CO CO (O CO (O (O (O CO CO OD OD (O (O co co co co co t O) X 7 co-a0 os co co co-OD 05 6 au m co"co"a0 co"co-a() co'o0 co"a0 co O co"a0 co' I C) II) j C C C C C C C C C C C C C C C C C C C C C C C C C C CO a) IY 69 V)V)V)V>V>69 69 69 69 69 69 V)69 V)69 69 69 V)69 69 V>69(9 69 69 69 to V3 69 69 (O (D CO (0 (D CO (0 (0 CO CO 0 (D (0 CO O O (O CO CO CO (O CO CO (.D (O (O CO (D (D CO 00 CO COCO CO a) CO CO CO CO CO a) a) co 00 03 CO CO CO CO CO CO CO CO CO CO CO CO co a) x T N- N- N- N. P. N.P. N. N. N. N. N- N- N. N- N N- N-N N-n N- N- N- N N- N- N- N- n Id I N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N --1 co a) E co co CO CO CO aO aO O 00 a0 a0 CO aO 03 CO CO aO CO CO CO a) co CO 03 aO CO a) U) a) CO aD a0 oD aO aO a0 CO a0'a0 a0 aO a0 aD a0 fO (0 00 a0 a0 aO a0 oO aO aD I _o N a) - a) CO ' ' ' ' Ns n n h Ns n Ns r n r r r n- n n N N-N-N-N- n r N N- I N 7 co t (L '- C) C) C) C) C) C) C) C)co-co-C) CO C)C) C)C)CO-V) C) C) CO-CO-co co C) C) 1 .L-. U) N F" iA N ca CO CO CO CO CO CD O CO CO CD CD (O CD CD co co co co (D co co co CO CD CO CO I 0 7 p 1- X 7 C C C C C C CV' C Cr.Cr.C C C C Nil sr C C C C C C C C C C I �!- -O 15 c.)F N sr C C C C C C C C C C C C C C C C C-Cr C C C C C V j N O a N..0 N >. O a). 69 E9 NVl69 01 Vi(9 V)6969 V!V!69 Vi 69 69 69 69 69 69 61 61 69 69 69 69 69 en V) is a) (A p)O C 0 rn a) 2:2; 0 0 0 c) 0 0 0 0 0 0 0 0 0 C) C) 0 0 C) C) C) C) 0 0 0 C) C) 0 0 C) 0 a) t C C C 0 I- > d a) U E W O• E N F-NL_ ..-a C o> Caa aa)) o 0 T• .) co ! m E -o a) n --1 a) OO ai N O 'N E O a' g - v CO0 COCOCOCOCOCOCOCOCOGO COCOCOCOCOaO aO 0O N (O N a0 aO aO (0 70 E `" (a,�7 a J a)'O 7 CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO 0 00 a0 co co CO 1 P. pEp X 5. 217. G. O C ' . ' ' r n N` n r- r-r n r- 1`N-r- N` n n Ns N` r r n 1s Ns n n h 1 d U N O Tr C) C) M C) C) C) C) (n C) C) co C) C) C) C) C) C) C) C) co C)C) C) M C) C) 1 C .Oa., ▪ ' (O (O CO CO CO CO (O (O OO CO CO (O OD (0 (O (D (D CO (O (O CO (O CO CO (D CO 0)LI. Ca 0 Iii O co 7 I Cr.C:C C C C V V C C Cr Cr.V Cr C C:C Cr.C C C C C C:C Cr I 'C♦- .7.E N O CO I a) C > a) ..L. J 69 69 69 Vl 69 V)Vf 69 69 64 69 69 V)69 69 V)V)V)69 V)V)V)09 69 V)69 69 69 69 V) E 9 O a) C C 7 O (O .- (O N (A CO N C 00 (0 (O (O 0 N N co (O O) OO O 0 r- OO N (O CO (0 C 0 0 C f/) a) ..a)_. O O .- N C) C (O CO N. N O) O N C) •- V' r- .N 7 '0 0 N 6) 113 c ~ F 0 C a) Q Iliw (a a m co 1- O L 0 C O Q Z N 3 Oa co c • METROPOLITAN AREA DESCRIPTION (CONTINUED) • ECONOMIC CHARACTERISTICS: Omaha's economy is diversified with no one industry claiming more than one-fourth of the total workforce. Greatest concentration is in the trade, transportation and utilities sections with about 22% of all non-farm workers. Second greatest concentration is in the educational and health services industries with 14% of all non-farm workers. Raw products produced in the metro area are primarily agricultural products like meat and flour, but the area also produces a variety of finished consumer goods like frozen dinners, cereal, irrigation equipment, phone apparatus, store fixtures, hydraulic motors and pumps, paper boxes, packaging materials, furniture, computer components, etc. Corporate Headquarters: Omaha is home to four 2009 Fortune 500 companies: Berkshire Hathaway (11), Union Pacific (154), ConAgra (210), and Peter Kiewit & Sons (385), and four more Fortune 1,000 companies: Mutual of Omaha Companies (525), TD Ameritrade (746), West (869), and Werner Enterprises (876). It is also home to three of the 20 largest architectural firms HDR, Inc, Leo A. Daly, Inc and DLR, Inc. Other firms with regional or national visibility include Gallup Organization, Lozier Corporation, First Data Corp, ITI Marketing, Omaha Steaks, Godfather's Pizza, Inc., Oriental Trading Company, Valmont Industries, Woodmen of the World, and First National Bank of Omaha. The headquarters of about 30 insurance companies are based in Omaha. More than half of the 20+ telemarketing, direct response and reservation centers operating in Omaha have their corporate headquarters in the metro area. The metro is home to Offutt Air Force Base located in Bellevue, headquarters for USSTRATCOM.t Employment: In 2009, 421,087 people over age 16 were employed in the metro area labor force with 64.6% in white collar jobs, 15.4% in service jobs and 20% in blue collar .positions. Approximately 82.7% drove alone to work, 10.6% carpooled and remainder used other means of transportation. Average travel time to work in 2000 was 19.7 minutes.$ The last 10 years were marked by a steady 1%-2% annual net job growth with exception of a net loss in 2002 and zero growth in 2004. This steady growth in jobs helped produce the unusually low unemployment level experienced in the metro.§ Omaha unemployment rate remained lower than the nation for a number of years. Annual average unemployment rates were 2.8% in 2000, 3.3% in 2001, 4.0% in 2002, 4.3% in 2003, 4.4% in 2004, 4.3% in 2005, 3.5% in 2006, and 3.4% in 2007. Greater Omaha Economic Outlook 2009,Greater Omaha Chamber of Commerce t Omaha Metro Data,Omaha Metropolitan Area 2008,Greater Omaha Chamber of Commerce $ Demographic Profile, Omaha-Council Bluffs CBSA,October 2009,©2009 ESRI Metropolitan Areas At A Glance,Omaha-Council Bluffs,U.S. Department of Labor,Bureau of Labor Statistics Proposed Capitol Rows Apartments Mitchell&Associates, Inc. 301 North 24th Street O Copyright 2010 Page 24 Omaha,Nebraska rial $ 45,000.00 $ - 6.501 Unit Cabinets $ 67,128.00 Consolidated Kitchens $ - Page 1 of 3 ' a0 a0 N CO.N 06 a0 a0 a0 a0 CO oD CO-OS W W ao oD o0 a0 a0 a0 a0 W o0 00 d R LL I C C C C C C C C C Cr s{ C C C C C C C C C C C C C Cr Cr N CA > A 1-: I C N > (p K a O E 2 E U. Vd 69 69 V)69 69 69 V)V)V)69 69 69 V)V)V)N 69 Vi 69 V)69 69 69 69 V)V)V>69 69 O COCOCOCOCO (D COCD COCOCOCOCOCO COCO (D CO COCD COCOCOCOCO . CO ¢ °� ce c ( N 0 roaocococoaoaocoroaococomao00ccocomaocoaocoaococo I (n c c 8t. ' ' " . 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O a). 69 E9 NVl69 01 Vi(9 V)6969 V!V!69 Vi 69 69 69 69 69 69 61 61 69 69 69 69 69 en V) is a) (A p)O C 0 rn a) 2:2; 0 0 0 c) 0 0 0 0 0 0 0 0 0 C) C) 0 0 C) C) C) C) 0 0 0 C) C) 0 0 C) 0 a) t C C C 0 I- > d a) U E W O• E N F-NL_ ..-a C o> Caa aa)) o 0 T• .) co ! m E -o a) n --1 a) OO ai N O 'N E O a' g - v CO0 COCOCOCOCOCOCOCOCOGO COCOCOCOCOaO aO 0O N (O N a0 aO aO (0 70 E `" (a,�7 a J a)'O 7 CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO 0 00 a0 co co CO 1 P. pEp X 5. 217. G. O C ' . ' ' r n N` n r- r-r n r- 1`N-r- N` n n Ns N` r r n 1s Ns n n h 1 d U N O Tr C) C) M C) C) C) C) (n C) C) co C) C) C) C) C) C) C) C) co C)C) C) M C) C) 1 C .Oa., ▪ ' (O (O CO CO CO CO (O (O OO CO CO (O OD (0 (O (D (D CO (O (O CO (O CO CO (D CO 0)LI. Ca 0 Iii O co 7 I Cr.C:C C C C V V C C Cr Cr.V Cr C C:C Cr.C C C C C C:C Cr I 'C♦- .7.E N O CO I a) C > a) ..L. J 69 69 69 Vl 69 V)Vf 69 69 64 69 69 V)69 69 V)V)V)69 V)V)V)09 69 V)69 69 69 69 V) E 9 O a) C C 7 O (O .- (O N (A CO N C 00 (0 (O (O 0 N N co (O O) OO O 0 r- OO N (O CO (0 C 0 0 C f/) a) ..a)_. O O .- N C) C (O CO N. N O) O N C) •- V' r- .N 7 '0 0 N 6) 113 c ~ F 0 C a) Q Iliw (a a m co 1- O L 0 C O Q Z N 3 Oa co c METROPOLITAN AREA DESCRIPTION(CONTINUED) Per the Omaha Chamber of Commerce, the metro's 10 largest employers in 2008 were: Rank Company Employment 1. Offutt Air Force Base 10,000+ 2. Alegent Health 7,500+ 3. Omaha Public Schools 7,500+ 4. Methodist Health System 5,000+ 5. First Data Corp 5,000+ 6. First National Bank 2,500+ 7. Union Pacific Corporation 2,500+ 8. University of Nebraska Medical Center(UNMC) 2,500+ 9. The Nebraska Medical Center 2,500+ 10. ConAgra Foods 2,500+ Cost of Living: A recent survey of 300 U.S. cities indicated the relative price level of consumer goods/services in Omaha average 11% below the national index for six components: grocery items, housing, utilities, transportation, health care and miscellaneous goods/services. Industrial Real Estate: There are about 59,639,056 SF of industrial buildings throughout the metro area with the heaviest concentrations along the I-80/I-680 corridors. There has been relatively little speculative industrial construction in recent years and little development of new industrial land. The 2009 Omaha industrial average vacancy rates remain around 7% with average asking rents around $4.91/SF. A majority of available industrial land is in the I-80 West and Papillion/La Vista market areas. Office Real Estate: There are about 19,510,731 SF of office space across the metro area. The two greatest concentrations of office space are found in the Midtown and Central Business District with about 5,553,569 SF and West Omaha with about 13,977,162 SF. Average, asking full-service rents are around $18.00/SF in 2009; average citywide vacancy was around 17%.t There has been steady growth in office development throughout the metropolitan area, where the Central Business District has more than $2 billion in projects announced, completed or under construction. The suburban office market continues to have absorption along major east/west corridors of west Omaha and several areas of Sarpy County. New mixed-development business parks ranging from 200 to over 300 acres have been announced or are currently being developed. ConAgra developed a headquarters/global trading center east of downtown adjacent to the Missouri River, as is Gallup Organization's new campus. In 2002, First National Bank completed Omaha's tallest building with 999,100 SF in a 45-story office tower southwest of 16th and Dodge Streets. First National also built a modern technology center that became a model for centers with superior design including hydrogen fuel cell energy supply at 16th Street and Capitol Avenue. Industrial Market Trends,October,2009,CB Richard EllisIMEGA t Office Market Trends,October,2009,CB Richard EllisIMEGA Proposed Capitol Rows Apartments Mitchell&Associates, Inc. 301 North 24th Street O Copyright 2010 Page 25 Omaha,Nebraska iates, Inc. 301 North 24th Street O Copyright 2010 Page 24 Omaha,Nebraska rial $ 45,000.00 $ - 6.501 Unit Cabinets $ 67,128.00 Consolidated Kitchens $ - Page 1 of 3 ' a0 a0 N CO.N 06 a0 a0 a0 a0 CO oD CO-OS W W ao oD o0 a0 a0 a0 a0 W o0 00 d R LL I C C C C C C C C C Cr s{ C C C C C C C C C C C C C Cr Cr N CA > A 1-: I C N > (p K a O E 2 E U. 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P. N.P. N. N. N. N. N- N- N. N- N N- N-N N-n N- N- N- N N- N- N- N- n Id I N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N --1 co a) E co co CO CO CO aO aO O 00 a0 a0 CO aO 03 CO CO aO CO CO CO a) co CO 03 aO CO a) U) a) CO aD a0 oD aO aO a0 CO a0'a0 a0 aO a0 aD a0 fO (0 00 a0 a0 aO a0 oO aO aD I _o N a) - a) CO ' ' ' ' Ns n n h Ns n Ns r n r r r n- n n N N-N-N-N- n r N N- I N 7 co t (L '- C) C) C) C) C) C) C) C)co-co-C) CO C)C) C)C)CO-V) C) C) CO-CO-co co C) C) 1 .L-. U) N F" iA N ca CO CO CO CO CO CD O CO CO CD CD (O CD CD co co co co (D co co co CO CD CO CO I 0 7 p 1- X 7 C C C C C C CV' C Cr.Cr.C C C C Nil sr C C C C C C C C C C I �!- -O 15 c.)F N sr C C C C C C C C C C C C C C C C C-Cr C C C C C V j N O a N..0 N >. O a). 69 E9 NVl69 01 Vi(9 V)6969 V!V!69 Vi 69 69 69 69 69 69 61 61 69 69 69 69 69 en V) is a) (A p)O C 0 rn a) 2:2; 0 0 0 c) 0 0 0 0 0 0 0 0 0 C) C) 0 0 C) C) C) C) 0 0 0 C) C) 0 0 C) 0 a) t C C C 0 I- > d a) U E W O• E N F-NL_ ..-a C o> Caa aa)) o 0 T• .) co ! m E -o a) n --1 a) OO ai N O 'N E O a' g - v CO0 COCOCOCOCOCOCOCOCOGO COCOCOCOCOaO aO 0O N (O N a0 aO aO (0 70 E `" (a,�7 a J a)'O 7 CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO 0 00 a0 co co CO 1 P. pEp X 5. 217. G. O C ' . ' ' r n N` n r- r-r n r- 1`N-r- N` n n Ns N` r r n 1s Ns n n h 1 d U N O Tr C) C) M C) C) C) C) (n C) C) co C) C) C) C) C) C) C) C) co C)C) C) M C) C) 1 C .Oa., ▪ ' (O (O CO CO CO CO (O (O OO CO CO (O OD (0 (O (D (D CO (O (O CO (O CO CO (D CO 0)LI. Ca 0 Iii O co 7 I Cr.C:C C C C V V C C Cr Cr.V Cr C C:C Cr.C C C C C C:C Cr I 'C♦- .7.E N O CO I a) C > a) ..L. J 69 69 69 Vl 69 V)Vf 69 69 64 69 69 V)69 69 V)V)V)69 V)V)V)09 69 V)69 69 69 69 V) E 9 O a) C C 7 O (O .- (O N (A CO N C 00 (0 (O (O 0 N N co (O O) OO O 0 r- OO N (O CO (0 C 0 0 C f/) a) ..a)_. O O .- N C) C (O CO N. N O) O N C) •- V' r- .N 7 '0 0 N 6) 113 c ~ F 0 C a) Q Iliw (a a m co 1- O L 0 C O Q Z N 3 Oa co c METROPOLITAN AREA DESCRIPTION(CONTINUED) Retail/Commercial Real Estate: Omaha has approximately 27,791,420 SF of multi-tenant retail space distributed citywide. The heaviest retail concentrations are found along the West Center Road Corridor. The 2008 Omaha retail average vacancy was around 12% and the average asking rental rate is around $17.21/SF on full service terms.* The following excerpt is from a report by Grubb & Ellis:t "Historically, retail development in Omaha has been done by local developers. However, the opening of Village Pointe in 2004 started a trend of local developers bringing in a national developer as a joint venture partner when Quantum Development (local developer) paired up with RED Development (national developer). Sorensen Park Plaza is a joint venture between local developer Woltemath-Otis and Kimco, one of the nation's largest retail developers. The trend continues with Shadow Lake (The Lerner Company and RED development)." GOVERNMENTAL CHARACTERISTICS: Omaha is governed by a mayor-council form of government. The mayor is elected on a nonpartisan ballot for a four-year term. The City Council consists of seven members who are elected by district on a nonpartisan ballot for staggered four-year terms. Metropolitan Area Governments: Omaha is surrounded by smaller communities in Douglas, Sarpy and Washington (Nebraska) and Pottawattamie Counties (Iowa). Douglas County is governed by a seven-member Board of Commissioners elected by district at staggered two-year intervals for four-year terms. Douglas County cities Ralston and Valley have mayor-council governments; Bennington, Waterloo and Irvington have village boards. Sarpy County is governed by a five-member Board of Commissioners. In Sarpy County, Bellevue, Gretna, La Vista, Papillion and Springfield have mayor-council governments. Washington County is governed by a seven-member Board of Supervisors, while the city of Blair has a mayor-council government. Pottawattamie County is governed by a five-member Board of Supervisors. Cities of Council Bluffs and Carter Lake have mayor-council forms of government. ENVIRONMENTAL CHARACTERISTICS: Topography: The metro area is on the dissected plains of the Central Lowlands in eastern Nebraska. The Platte River Valley defines the west and south boundaries of the area and the Missouri River forms the east boundary. The area is dissected by these two rivers, their tributaries and the Elkhorn River and Papillion Creek. The city's rolling hills rise to an average 1,300' above sea level. * Retail SummaryBySubmarket,October 2009,CB Richard Ellis MEGA EllisIMEGA Retail Market Trends Omaha,Third Quarter 2008,Grubb&Ellis Research Proposed Capitol Rows Apartments Mitchell&Associates, Inc. 301 North 24th Street O Copyright 2010 Page 26 Omaha, Nebraska th Street O Copyright 2010 Page 25 Omaha,Nebraska iates, Inc. 301 North 24th Street O Copyright 2010 Page 24 Omaha,Nebraska rial $ 45,000.00 $ - 6.501 Unit Cabinets $ 67,128.00 Consolidated Kitchens $ - Page 1 of 3 ' a0 a0 N CO.N 06 a0 a0 a0 a0 CO oD CO-OS W W ao oD o0 a0 a0 a0 a0 W o0 00 d R LL I C C C C C C C C C Cr s{ C C C C C C C C C C C C C Cr Cr N CA > A 1-: I C N > (p K a O E 2 E U. Vd 69 69 V)69 69 69 V)V)V)69 69 69 V)V)V)N 69 Vi 69 V)69 69 69 69 V)V)V>69 69 O COCOCOCOCO (D COCD COCOCOCOCOCO COCO (D CO COCD COCOCOCOCO . CO ¢ °� ce c ( N 0 roaocococoaoaocoroaococomao00ccocomaocoaocoaococo I (n c c 8t. ' ' " . C C C C C c c Tr C C C c sr C C C C C C C C C C C C C 1 CD co 7 _N C... _I d f O° a) _ o ULI .c 9 m N En m . 0 I- s- (9(9(9(9(9(9(9(9(9(9(9(969(9(9(9(9(9(9(9(9(9(9(9(9(9(9(9(9(9 O U J C C C C C C C C C C C s)- C C C sr C C Cr Cr C C C C C C 1 COV N ' ' ' ' co co a) (D (D CO CO CO CO CO (O CO (O (O (O CO CO OD OD (O (O co co co co co t O) X 7 co-a0 os co co co-OD 05 6 au m co"co"a0 co"co-a() co'o0 co"a0 co O co"a0 co' I C) II) j C C C C C C C C C C C C C C C C C C C C C C C C C C CO a) IY 69 V)V)V)V>V>69 69 69 69 69 69 V)69 V)69 69 69 V)69 69 V>69(9 69 69 69 to V3 69 69 (O (D CO (0 (D CO (0 (0 CO CO 0 (D (0 CO O O (O CO CO CO (O CO CO (.D (O (O CO (D (D CO 00 CO COCO CO a) CO CO CO CO CO a) a) co 00 03 CO CO CO CO CO CO CO CO CO CO CO CO co a) x T N- N- N- N. P. N.P. N. N. N. N. N- N- N. N- N N- N-N N-n N- N- N- N N- N- N- N- n Id I N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N --1 co a) E co co CO CO CO aO aO O 00 a0 a0 CO aO 03 CO CO aO CO CO CO a) co CO 03 aO CO a) U) a) CO aD a0 oD aO aO a0 CO a0'a0 a0 aO a0 aD a0 fO (0 00 a0 a0 aO a0 oO aO aD I _o N a) - a) CO ' ' ' ' Ns n n h Ns n Ns r n r r r n- n n N N-N-N-N- n r N N- I N 7 co t (L '- C) C) C) C) C) C) C) C)co-co-C) CO C)C) C)C)CO-V) C) C) CO-CO-co co C) C) 1 .L-. U) N F" iA N ca CO CO CO CO CO CD O CO CO CD CD (O CD CD co co co co (D co co co CO CD CO CO I 0 7 p 1- X 7 C C C C C C CV' C Cr.Cr.C C C C Nil sr C C C C C C C C C C I �!- -O 15 c.)F N sr C C C C C C C C C C C C C C C C C-Cr C C C C C V j N O a N..0 N >. O a). 69 E9 NVl69 01 Vi(9 V)6969 V!V!69 Vi 69 69 69 69 69 69 61 61 69 69 69 69 69 en V) is a) (A p)O C 0 rn a) 2:2; 0 0 0 c) 0 0 0 0 0 0 0 0 0 C) C) 0 0 C) C) C) C) 0 0 0 C) C) 0 0 C) 0 a) t C C C 0 I- > d a) U E W O• E N F-NL_ ..-a C o> Caa aa)) o 0 T• .) co ! m E -o a) n --1 a) OO ai N O 'N E O a' g - v CO0 COCOCOCOCOCOCOCOCOGO COCOCOCOCOaO aO 0O N (O N a0 aO aO (0 70 E `" (a,�7 a J a)'O 7 CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO 0 00 a0 co co CO 1 P. pEp X 5. 217. G. O C ' . ' ' r n N` n r- r-r n r- 1`N-r- N` n n Ns N` r r n 1s Ns n n h 1 d U N O Tr C) C) M C) C) C) C) (n C) C) co C) C) C) C) C) C) C) C) co C)C) C) M C) C) 1 C .Oa., ▪ ' (O (O CO CO CO CO (O (O OO CO CO (O OD (0 (O (D (D CO (O (O CO (O CO CO (D CO 0)LI. Ca 0 Iii O co 7 I Cr.C:C C C C V V C C Cr Cr.V Cr C C:C Cr.C C C C C C:C Cr I 'C♦- .7.E N O CO I a) C > a) ..L. J 69 69 69 Vl 69 V)Vf 69 69 64 69 69 V)69 69 V)V)V)69 V)V)V)09 69 V)69 69 69 69 V) E 9 O a) C C 7 O (O .- (O N (A CO N C 00 (0 (O (O 0 N N co (O O) OO O 0 r- OO N (O CO (0 C 0 0 C f/) a) ..a)_. O O .- N C) C (O CO N. N O) O N C) •- V' r- .N 7 '0 0 N 6) 113 c ~ F 0 C a) Q Iliw (a a m co 1- O L 0 C O Q Z N 3 Oa co c METROPOLITAN AREA DESCRIPTION (CONTINUED) Superfund: A large section of East Omaha was designated as a Superfund site in 2003 by EPA. The designation came in response to contamination found in thousands of residential yards testing positive for high levels of lead. The contamination was believed from a nearby lead smelting plan that operated for more than a century. SUMMARY: In summary, each factor affecting area real estate values has positive indications at this time. With a growing, diversified economy, continued support of government, skilled/stable workforce and moderation of environmental conditions, the area should enjoy continued prosperity and desirability for real estate (investment), creating a positive and continued underlying basis for the value of the subject property. Proposed Capitol Rows Apartments Mitchell&Associates, Inc. 301 North 24th Street ©Copyright 2010 Page 27 Omaha,Nebraska r Company and RED development)." GOVERNMENTAL CHARACTERISTICS: Omaha is governed by a mayor-council form of government. The mayor is elected on a nonpartisan ballot for a four-year term. The City Council consists of seven members who are elected by district on a nonpartisan ballot for staggered four-year terms. Metropolitan Area Governments: Omaha is surrounded by smaller communities in Douglas, Sarpy and Washington (Nebraska) and Pottawattamie Counties (Iowa). Douglas County is governed by a seven-member Board of Commissioners elected by district at staggered two-year intervals for four-year terms. Douglas County cities Ralston and Valley have mayor-council governments; Bennington, Waterloo and Irvington have village boards. Sarpy County is governed by a five-member Board of Commissioners. In Sarpy County, Bellevue, Gretna, La Vista, Papillion and Springfield have mayor-council governments. Washington County is governed by a seven-member Board of Supervisors, while the city of Blair has a mayor-council government. Pottawattamie County is governed by a five-member Board of Supervisors. Cities of Council Bluffs and Carter Lake have mayor-council forms of government. ENVIRONMENTAL CHARACTERISTICS: Topography: The metro area is on the dissected plains of the Central Lowlands in eastern Nebraska. The Platte River Valley defines the west and south boundaries of the area and the Missouri River forms the east boundary. The area is dissected by these two rivers, their tributaries and the Elkhorn River and Papillion Creek. The city's rolling hills rise to an average 1,300' above sea level. * Retail SummaryBySubmarket,October 2009,CB Richard Ellis MEGA EllisIMEGA Retail Market Trends Omaha,Third Quarter 2008,Grubb&Ellis Research Proposed Capitol Rows Apartments Mitchell&Associates, Inc. 301 North 24th Street O Copyright 2010 Page 26 Omaha, Nebraska th Street O Copyright 2010 Page 25 Omaha,Nebraska iates, Inc. 301 North 24th Street O Copyright 2010 Page 24 Omaha,Nebraska rial $ 45,000.00 $ - 6.501 Unit Cabinets $ 67,128.00 Consolidated Kitchens $ - Page 1 of 3 ' a0 a0 N CO.N 06 a0 a0 a0 a0 CO oD CO-OS W W ao oD o0 a0 a0 a0 a0 W o0 00 d R LL I C C C C C C C C C Cr s{ C C C C C C C C C C C C C Cr Cr N CA > A 1-: I C N > (p K a O E 2 E U. Vd 69 69 V)69 69 69 V)V)V)69 69 69 V)V)V)N 69 Vi 69 V)69 69 69 69 V)V)V>69 69 O COCOCOCOCO (D COCD COCOCOCOCOCO COCO (D CO COCD COCOCOCOCO . 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Metropolitan Area Governments: Omaha is surrounded by smaller communities in Douglas, Sarpy and Washington (Nebraska) and Pottawattamie Counties (Iowa). Douglas County is governed by a seven-member Board of Commissioners elected by district at staggered two-year intervals for four-year terms. Douglas County cities Ralston and Valley have mayor-council governments; Bennington, Waterloo and Irvington have village boards. Sarpy County is governed by a five-member Board of Commissioners. In Sarpy County, Bellevue, Gretna, La Vista, Papillion and Springfield have mayor-council governments. Washington County is governed by a seven-member Board of Supervisors, while the city of Blair has a mayor-council government. Pottawattamie County is governed by a five-member Board of Supervisors. Cities of Council Bluffs and Carter Lake have mayor-council forms of government. ENVIRONMENTAL CHARACTERISTICS: Topography: The metro area is on the dissected plains of the Central Lowlands in eastern Nebraska. The Platte River Valley defines the west and south boundaries of the area and the Missouri River forms the east boundary. The area is dissected by these two rivers, their tributaries and the Elkhorn River and Papillion Creek. The city's rolling hills rise to an average 1,300' above sea level. * Retail SummaryBySubmarket,October 2009,CB Richard Ellis MEGA EllisIMEGA Retail Market Trends Omaha,Third Quarter 2008,Grubb&Ellis Research Proposed Capitol Rows Apartments Mitchell&Associates, Inc. 301 North 24th Street O Copyright 2010 Page 26 Omaha, Nebraska th Street O Copyright 2010 Page 25 Omaha,Nebraska iates, Inc. 301 North 24th Street O Copyright 2010 Page 24 Omaha,Nebraska rial $ 45,000.00 $ - 6.501 Unit Cabinets $ 67,128.00 Consolidated Kitchens $ - Page 1 of 3 ' a0 a0 N CO.N 06 a0 a0 a0 a0 CO oD CO-OS W W ao oD o0 a0 a0 a0 a0 W o0 00 d R LL I C C C C C C C C C Cr s{ C C C C C C C C C C C C C Cr Cr N CA > A 1-: I C N > (p K a O E 2 E U. Vd 69 69 V)69 69 69 V)V)V)69 69 69 V)V)V)N 69 Vi 69 V)69 69 69 69 V)V)V>69 69 O COCOCOCOCO (D COCD COCOCOCOCOCO COCO (D CO COCD COCOCOCOCO . CO ¢ °� ce c ( N 0 roaocococoaoaocoroaococomao00ccocomaocoaocoaococo I (n c c 8t. ' ' " . 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O a). 69 E9 NVl69 01 Vi(9 V)6969 V!V!69 Vi 69 69 69 69 69 69 61 61 69 69 69 69 69 en V) is a) (A p)O C 0 rn a) 2:2; 0 0 0 c) 0 0 0 0 0 0 0 0 0 C) C) 0 0 C) C) C) C) 0 0 0 C) C) 0 0 C) 0 a) t C C C 0 I- > d a) U E W O• E N F-NL_ ..-a C o> Caa aa)) o 0 T• .) co ! m E -o a) n --1 a) OO ai N O 'N E O a' g - v CO0 COCOCOCOCOCOCOCOCOGO COCOCOCOCOaO aO 0O N (O N a0 aO aO (0 70 E `" (a,�7 a J a)'O 7 CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO 0 00 a0 co co CO 1 P. pEp X 5. 217. G. O C ' . ' ' r n N` n r- r-r n r- 1`N-r- N` n n Ns N` r r n 1s Ns n n h 1 d U N O Tr C) C) M C) C) C) C) (n C) C) co C) C) C) C) C) C) C) C) co C)C) C) M C) C) 1 C .Oa., ▪ ' (O (O CO CO CO CO (O (O OO CO CO (O OD (0 (O (D (D CO (O (O CO (O CO CO (D CO 0)LI. Ca 0 Iii O co 7 I Cr.C:C C C C V V C C Cr Cr.V Cr C C:C Cr.C C C C C C:C Cr I 'C♦- .7.E N O CO I a) C > a) ..L. J 69 69 69 Vl 69 V)Vf 69 69 64 69 69 V)69 69 V)V)V)69 V)V)V)09 69 V)69 69 69 69 V) E 9 O a) C C 7 O (O .- (O N (A CO N C 00 (0 (O (O 0 N N co (O O) OO O 0 r- OO N (O CO (0 C 0 0 C f/) a) ..a)_. O O .- N C) C (O CO N. N O) O N C) •- V' r- .N 7 '0 0 N 6) 113 c ~ F 0 C a) Q Iliw (a a m co 1- O L 0 C O Q Z N 3 Oa co c MARKET AREA DESCRIPTION AND ANALYSIS "Social, economic, governmental and environmental forces also influence property value in the vicinity of the subject property which, in turn, directly affects the value of the subject property itself" "A market area or neighborhood is a group of complimentary land uses." Following is a summary of each of the four forces affecting the subject market area. SOCIAL CHARACTERISTICS: The appraised property is on the northwestern edge of the Omaha Central Business District (CBD), the original urban area adjacent to Missouri River and containing the Historic Old Market area, an established area primarily composed of older commercial properties and newer high-rise office buildings. As mentioned in the Metropolitan Area description, it is a major employment center for government, banks, Union Pacific Railroad, Qwest Communications and ConAgra. Generally, the area is considered bounded on the west and north by I-480, east by Missouri River and south by Leavenworth Street. The CBD neighborhood, generally encompassing the 68102 zip code, is comprised of nearly 5,674 residents in 2,509 households. Median age of area residents was 32.8 years. Median income is shown as $26,809. Income levels have increased since the 2000 Census and are projected to continue rising. The following table demonstrates the recent demographic trends. Population 2000 2008 2013 68102 5,358 5,674 5,887 % Annual Change +0.72% +0.74% Households 2000 2008 2013 68102 2,287 2,509 2,682 % Annual Change +1.16% +1.34% Median Household Income 2000 2008 2013 68102 $20,295 $26,809 $33,795 % Annual Change +3.54% +4.74% Average Household Income 2000 2008 2013 68102 $26,484 $36,674 $44,382 % Annual Change +4.15% +3.89% Proposed Capitol Rows Apartments Mitchell&Associates, Inc. 301 North 24th Street O Copyright 2010 Page 29 Omaha, Nebraska a five-member Board of Supervisors. Cities of Council Bluffs and Carter Lake have mayor-council forms of government. ENVIRONMENTAL CHARACTERISTICS: Topography: The metro area is on the dissected plains of the Central Lowlands in eastern Nebraska. The Platte River Valley defines the west and south boundaries of the area and the Missouri River forms the east boundary. The area is dissected by these two rivers, their tributaries and the Elkhorn River and Papillion Creek. The city's rolling hills rise to an average 1,300' above sea level. * Retail SummaryBySubmarket,October 2009,CB Richard Ellis MEGA EllisIMEGA Retail Market Trends Omaha,Third Quarter 2008,Grubb&Ellis Research Proposed Capitol Rows Apartments Mitchell&Associates, Inc. 301 North 24th Street O Copyright 2010 Page 26 Omaha, Nebraska th Street O Copyright 2010 Page 25 Omaha,Nebraska iates, Inc. 301 North 24th Street O Copyright 2010 Page 24 Omaha,Nebraska rial $ 45,000.00 $ - 6.501 Unit Cabinets $ 67,128.00 Consolidated Kitchens $ - Page 1 of 3 ' a0 a0 N CO.N 06 a0 a0 a0 a0 CO oD CO-OS W W ao oD o0 a0 a0 a0 a0 W o0 00 d R LL I C C C C C C C C C Cr s{ C C C C C C C C C C C C C Cr Cr N CA > A 1-: I C N > (p K a O E 2 E U. Vd 69 69 V)69 69 69 V)V)V)69 69 69 V)V)V)N 69 Vi 69 V)69 69 69 69 V)V)V>69 69 O COCOCOCOCO (D COCD COCOCOCOCOCO COCO (D CO COCD COCOCOCOCO . CO ¢ °� ce c ( N 0 roaocococoaoaocoroaococomao00ccocomaocoaocoaococo I (n c c 8t. ' ' " . C C C C C c c Tr C C C c sr C C C C C C C C C C C C C 1 CD co 7 _N C... _I d f O° a) _ o ULI .c 9 m N En m . 0 I- s- (9(9(9(9(9(9(9(9(9(9(9(969(9(9(9(9(9(9(9(9(9(9(9(9(9(9(9(9(9 O U J C C C C C C C C C C C s)- C C C sr C C Cr Cr C C C C C C 1 COV N ' ' ' ' co co a) (D (D CO CO CO CO CO (O CO (O (O (O CO CO OD OD (O (O co co co co co t O) X 7 co-a0 os co co co-OD 05 6 au m co"co"a0 co"co-a() co'o0 co"a0 co O co"a0 co' I C) II) j C C C C C C C C C C C C C C C C C C C C C C C C C C CO a) IY 69 V)V)V)V>V>69 69 69 69 69 69 V)69 V)69 69 69 V)69 69 V>69(9 69 69 69 to V3 69 69 (O (D CO (0 (D CO (0 (0 CO CO 0 (D (0 CO O O (O CO CO CO (O CO CO (.D (O (O CO (D (D CO 00 CO COCO CO a) CO CO CO CO CO a) a) co 00 03 CO CO CO CO CO CO CO CO CO CO CO CO co a) x T N- N- N- N. P. N.P. N. N. N. N. N- N- N. N- N N- N-N N-n N- N- N- N N- N- N- N- n Id I N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N --1 co a) E co co CO CO CO aO aO O 00 a0 a0 CO aO 03 CO CO aO CO CO CO a) co CO 03 aO CO a) U) a) CO aD a0 oD aO aO a0 CO a0'a0 a0 aO a0 aD a0 fO (0 00 a0 a0 aO a0 oO aO aD I _o N a) - a) CO ' ' ' ' Ns n n h Ns n Ns r n r r r n- n n N N-N-N-N- n r N N- I N 7 co t (L '- C) C) C) C) C) C) C) C)co-co-C) CO C)C) C)C)CO-V) C) C) CO-CO-co co C) C) 1 .L-. U) N F" iA N ca CO CO CO CO CO CD O CO CO CD CD (O CD CD co co co co (D co co co CO CD CO CO I 0 7 p 1- X 7 C C C C C C CV' C Cr.Cr.C C C C Nil sr C C C C C C C C C C I �!- -O 15 c.)F N sr C C C C C C C C C C C C C C C C C-Cr C C C C C V j N O a N..0 N >. O a). 69 E9 NVl69 01 Vi(9 V)6969 V!V!69 Vi 69 69 69 69 69 69 61 61 69 69 69 69 69 en V) is a) (A p)O C 0 rn a) 2:2; 0 0 0 c) 0 0 0 0 0 0 0 0 0 C) C) 0 0 C) C) C) C) 0 0 0 C) C) 0 0 C) 0 a) t C C C 0 I- > d a) U E W O• E N F-NL_ ..-a C o> Caa aa)) o 0 T• .) co ! m E -o a) n --1 a) OO ai N O 'N E O a' g - v CO0 COCOCOCOCOCOCOCOCOGO COCOCOCOCOaO aO 0O N (O N a0 aO aO (0 70 E `" (a,�7 a J a)'O 7 CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO 0 00 a0 co co CO 1 P. pEp X 5. 217. G. O C ' . ' ' r n N` n r- r-r n r- 1`N-r- N` n n Ns N` r r n 1s Ns n n h 1 d U N O Tr C) C) M C) C) C) C) (n C) C) co C) C) C) C) C) C) C) C) co C)C) C) M C) C) 1 C .Oa., ▪ ' (O (O CO CO CO CO (O (O OO CO CO (O OD (0 (O (D (D CO (O (O CO (O CO CO (D CO 0)LI. Ca 0 Iii O co 7 I Cr.C:C C C C V V C C Cr Cr.V Cr C C:C Cr.C C C C C C:C Cr I 'C♦- .7.E N O CO I a) C > a) ..L. J 69 69 69 Vl 69 V)Vf 69 69 64 69 69 V)69 69 V)V)V)69 V)V)V)09 69 V)69 69 69 69 V) E 9 O a) C C 7 O (O .- (O N (A CO N C 00 (0 (O (O 0 N N co (O O) OO O 0 r- OO N (O CO (0 C 0 0 C f/) a) ..a)_. O O .- N C) C (O CO N. N O) O N C) •- V' r- .N 7 '0 0 N 6) 113 c ~ F 0 C a) Q Iliw (a a m co 1- O L 0 C O Q Z N 3 Oa co c MARKET AREA DESCRIPTION AND ANALYSIS The number of households is increasing faster than the population, implying smaller households are locating downtown. Also, the households are reporting steady increases in income. Omaha's CBD appears to be maintaining status quo anchored by national corporations, banks, arts organizations, charitable organizations and government agencies committed to staying in the CBD while smaller companies/non-government agencies continue moving to more convenient, competitively priced suburban locations. ECONOMIC CHARACTERISTICS: In recent years, private redevelopment of underutilized Old Market buildings began. The Rubin Building at 1101 Harney Street, George H. Lee Building at 1105 Harney Street, Butter-Nut Coffee Building at 707 South 11th Street (gutted by fire), Commercial Optical Building (Macaroni Building) with 100,000 SF on six floors at 14th and Jackson Streets, the Bemis Foundation at 12th and Harney Streets, the Ford Warehouse, etc., have all been or are in the process of being renovated to commercial and/or apartment use. The CBD has seen substantial increases in the number of downtown residences in recent years. Many Omaha residents are attracted to the downtown residences for shorter commute times, social activity, and a variety of other reasons. Also, many transferees coming to Omaha from large, metropolitan areas such as Chicago, New York, San Francisco, etc., seem to prefer the loft-style apartments and retail shops resembling their hometown surroundings while being in a much safer, less expensive Midwestern city. Due to the lack of vacant land, many developers have converted old office and warehouse buildings for condominiums and apartments. Apartment vacancy rates were reported in the Fall 2008 IREM survey at 4% for the 68102 zip code. The Riverfront Place Development is underway just north of the CBD that includes two condominium towers with unit asking prices ranging from $200,000 to $1,000,000 for 12th and 13th floors penthouses. Townsend Development had planned Wall Street Tower, a $105 million, 32-story building on the old Union Pacific Railroad site at the northeast corner of 15th and Dodge Streets (old building was recently razed). It was originally planned for 282 condominiums, but has been reduced by half due to the slowing real estate market. It will include an upscale hotel, data center, parking garage, and ground level retail space. It was planned for completion in 2010 or 2011, but has since been halted due to the national economic conditions. Proposed Capitol Rows Apartments Mitchell&Associates, Inc. 301 North 24th Street O Copyright 2010 Page 30 Omaha,Nebraska esearch Proposed Capitol Rows Apartments Mitchell&Associates, Inc. 301 North 24th Street O Copyright 2010 Page 26 Omaha, Nebraska th Street O Copyright 2010 Page 25 Omaha,Nebraska iates, Inc. 301 North 24th Street O Copyright 2010 Page 24 Omaha,Nebraska rial $ 45,000.00 $ - 6.501 Unit Cabinets $ 67,128.00 Consolidated Kitchens $ - Page 1 of 3 ' a0 a0 N CO.N 06 a0 a0 a0 a0 CO oD CO-OS W W ao oD o0 a0 a0 a0 a0 W o0 00 d R LL I C C C C C C C C C Cr s{ C C C C C C C C C C C C C Cr Cr N CA > A 1-: I C N > (p K a O E 2 E U. Vd 69 69 V)69 69 69 V)V)V)69 69 69 V)V)V)N 69 Vi 69 V)69 69 69 69 V)V)V>69 69 O COCOCOCOCO (D COCD COCOCOCOCOCO COCO (D CO COCD COCOCOCOCO . CO ¢ °� ce c ( N 0 roaocococoaoaocoroaococomao00ccocomaocoaocoaococo I (n c c 8t. ' ' " . 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O a). 69 E9 NVl69 01 Vi(9 V)6969 V!V!69 Vi 69 69 69 69 69 69 61 61 69 69 69 69 69 en V) is a) (A p)O C 0 rn a) 2:2; 0 0 0 c) 0 0 0 0 0 0 0 0 0 C) C) 0 0 C) C) C) C) 0 0 0 C) C) 0 0 C) 0 a) t C C C 0 I- > d a) U E W O• E N F-NL_ ..-a C o> Caa aa)) o 0 T• .) co ! m E -o a) n --1 a) OO ai N O 'N E O a' g - v CO0 COCOCOCOCOCOCOCOCOGO COCOCOCOCOaO aO 0O N (O N a0 aO aO (0 70 E `" (a,�7 a J a)'O 7 CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO 0 00 a0 co co CO 1 P. pEp X 5. 217. G. O C ' . ' ' r n N` n r- r-r n r- 1`N-r- N` n n Ns N` r r n 1s Ns n n h 1 d U N O Tr C) C) M C) C) C) C) (n C) C) co C) C) C) C) C) C) C) C) co C)C) C) M C) C) 1 C .Oa., ▪ ' (O (O CO CO CO CO (O (O OO CO CO (O OD (0 (O (D (D CO (O (O CO (O CO CO (D CO 0)LI. Ca 0 Iii O co 7 I Cr.C:C C C C V V C C Cr Cr.V Cr C C:C Cr.C C C C C C:C Cr I 'C♦- .7.E N O CO I a) C > a) ..L. J 69 69 69 Vl 69 V)Vf 69 69 64 69 69 V)69 69 V)V)V)69 V)V)V)09 69 V)69 69 69 69 V) E 9 O a) C C 7 O (O .- (O N (A CO N C 00 (0 (O (O 0 N N co (O O) OO O 0 r- OO N (O CO (0 C 0 0 C f/) a) ..a)_. O O .- N C) C (O CO N. N O) O N C) •- V' r- .N 7 '0 0 N 6) 113 c ~ F 0 C a) Q Iliw (a a m co 1- O L 0 C O Q Z N 3 Oa co c MARKET AREA DESCRIPTION AND ANALYSIS Other condominium projects for the Old Market include the Beebe Runyan Building at 9th and Douglas Streets with 81 condo units around a six-story atrium at prices ranging from$200,000 to $1,000,000. The Lerner Building at 16th & Harney Streets is a planned redevelopment of an existing two-story building to upscale retail space with one to three stories of new construction, which will provide 15 upscale condominiums. The 1000 Dodge Building at 10th & Dodge Streets where a 3rd floor was added and 12 condos were constructed is sold out, but has retail space available on the first floor. Three buildings at 17th & Cuming were purchased for $595,000 for renovation to office or retail uses, or possibly razing the improvements for parking. The Ford Lofts at 1024 Dodge were redeveloped in 2005 with 65 condominium units and first floor commercial space. The Rows at SoMA near l lth and Leavenworth have row-houses with prices of$235,000 to $425,000. J-Lofts is a new development at 1308 Jackson with 51 units ranging $206,035 to $1,000,000±. Dunsany Flats is a new development at 1113 South 10th Street (near 10th and Pacific). Due to its distance from the CBD, it is more affordable with units ranging $199,000 to $345,000. Demand for commercial sites in the neighborhood is difficult to measure, as the neighborhood has been 100% developed for many years. The only recent demand has been for several square block assemblages, e.g., the 1200 Landmark Building, ConAgra campus, Heartland Park, new federal courthouse, new convention center/arena, new U.P. headquarters building, new performing arts center and several parking lots or city-owned parking garages. In August 2009, Creighton University opened the $19 million Ryan Athletic Center at 18th & Webster, and has announced plans for an $18 million fitness and wellness center to be built adjacent to the east. As Creighton develops its existing lands, it has aggressively bought properties near the campus for future expansions. Some land/housing values, observed increasing the last few years, are expected to remain stable or climb, specifically in the Old Market or along 10th Street, connecting the new convention center to the Old Market. Events of the mid and late 1980s, 1990s and early 2000s indicated some resurgence of downtown area growth. State and local governments acted to provide tax incentives and other vehicles to spur growth. Other office projects resulting from this activity include the $60+ million ConAgra office campus, $55 million re-development of Union Pacific's historic freight warehouse into a communications center, also scheduled to be enlarged and upgraded in the near future, and $80 million US West computer center at 1200 Farnam (1200 Landmark Building). These projects helped stabilize and revitalize the east end of the CBD, but they added significantly more Class A office space in the market. The large amount of office space created by First National Bank's $200 million, 45-story office tower and Union Pacific's $260 million, 1,000,000 SF headquarters lead to increases in vacancy rates as high as 35%just a few years ago. A recent vacancy report by a local broker indicates average vacancy near 25%. The vacancy has fluctuated as former office space has been converted to other uses, existing tenants expand their offices and new tenants are attracted to the downtown area. Proposed Capitol Rows Apartments Mitchell&Associates, Inc. 301 North 24th Street O Copyright 2010 Page 31 Omaha,Nebraska CD COCOCOCOCOCO COCO (D CO COCD COCOCOCOCO . CO ¢ °� ce c ( N 0 roaocococoaoaocoroaococomao00ccocomaocoaocoaococo I (n c c 8t. ' ' " . 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O a). 69 E9 NVl69 01 Vi(9 V)6969 V!V!69 Vi 69 69 69 69 69 69 61 61 69 69 69 69 69 en V) is a) (A p)O C 0 rn a) 2:2; 0 0 0 c) 0 0 0 0 0 0 0 0 0 C) C) 0 0 C) C) C) C) 0 0 0 C) C) 0 0 C) 0 a) t C C C 0 I- > d a) U E W O• E N F-NL_ ..-a C o> Caa aa)) o 0 T• .) co ! m E -o a) n --1 a) OO ai N O 'N E O a' g - v CO0 COCOCOCOCOCOCOCOCOGO COCOCOCOCOaO aO 0O N (O N a0 aO aO (0 70 E `" (a,�7 a J a)'O 7 CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO 0 00 a0 co co CO 1 P. pEp X 5. 217. G. O C ' . ' ' r n N` n r- r-r n r- 1`N-r- N` n n Ns N` r r n 1s Ns n n h 1 d U N O Tr C) C) M C) C) C) C) (n C) C) co C) C) C) C) C) C) C) C) co C)C) C) M C) C) 1 C .Oa., ▪ ' (O (O CO CO CO CO (O (O OO CO CO (O OD (0 (O (D (D CO (O (O CO (O CO CO (D CO 0)LI. Ca 0 Iii O co 7 I Cr.C:C C C C V V C C Cr Cr.V Cr C C:C Cr.C C C C C C:C Cr I 'C♦- .7.E N O CO I a) C > a) ..L. J 69 69 69 Vl 69 V)Vf 69 69 64 69 69 V)69 69 V)V)V)69 V)V)V)09 69 V)69 69 69 69 V) E 9 O a) C C 7 O (O .- (O N (A CO N C 00 (0 (O (O 0 N N co (O O) OO O 0 r- OO N (O CO (0 C 0 0 C f/) a) ..a)_. O O .- N C) C (O CO N. N O) O N C) •- V' r- .N 7 '0 0 N 6) 113 c ~ F 0 C a) Q Iliw (a a m co 1- O L 0 C O Q Z N 3 Oa co c MARKET AREA DESCRIPTION AND ANALYSIS The remainder of CBD and midtown area is a mix of various mid and high-rise building with various sizes/designs. Most were intended for office use with commercial/retail use on street level. Miscellaneous uses in the area include a new Performing Arts Center on the site formerly occupied by Swanson's Corporation on 11th and Douglas Streets, Hall of Justice at 17th and Harney Streets, Orpheum Theater north of 16th and Howard Streets, DoubleTree Hotel (former Red Lion Hotel) at 16th and Dodge Streets. The Omaha Civic Auditorium/Music Hall at 17th Street and Capital Avenue, which completed a $16 million renovation in 2000 adding an ice rink. This is in addition to several circa 1900 office buildings, many converted to apartment use or renovated to alternative use to obtain income tax credits and meet demand for CBD residences/parking in face of declining demand for older office spaces. The historic Old Market district is a significant sub-market in the east part of the CBD. This area roughly encompasses 10th to 13th, Harney to Jackson Streets, an area of redeveloped 1900s jobber loft warehouses and related fruit and vegetable distribution or commercial buildings. A trademark of the area includes many building with canopies over adjacent sidewalks and many have planted flowers in flowerboxes along the canopy or building edges. Redevelopment was originally started by the Mercer family who owned most of the properties in or near the core (11th and Howard) of the Old Market. The Old Market features artists' housing and retail facilities, numerous restaurants, boutiques and horse-drawn carriage tours through the area at night. It has become a primary tourist attraction for the Omaha area, drawing heavy traffic from the metro and surrounding area but is also home to many affluent or upper class persons seeking the uniqueness of the Old Market's loft apartments/condominiums and commercial services. Vacancy for the mostly retail area and apartment units has been minimal the last few years, contrary to adjacent CBD's large office vacancies. Two historic buildings being renovated in this area were gutted by fires (Spring 2004), reducing the available supply of historic buildings. Construction was completedEmbassy 1 on a 240-room Suites hotel east of 10t h and north of Jackson Streets on part of the ConAgra campus. In conjunction, City of Omaha built a covered, two-level parking garage at southwest corner of 10th and Jackson Streets. In the last six years, the Aquila Court reopened after a substantial renovation as a four star, 115-room, hotel. Marriott International renovated two old warehouse buildings at 9th-10th, Dodge to Douglas Streets, one operating as a Courtyard by Marriott, the other, an extended-stay, Residence Inn by Marriott. Hilton Hotels built the new Hilton Gardens full-service hotel and parking garage on the southwest corner of 10th and Dodge Streets. Hilton also built the new Hilton Convention (full service) hotel and parking garage west of 10th Street connected via elevated enclosed walkway to the Qwest Center. Most of the projects receive Tax Increment Financing Funds, block grants, low interest federal loans or home investment partnership financing from the City. All of this aids in the redevelopment of a popular area that might otherwise remain underutilized. In addition, the operation of two riverboat casinos in Council Bluffs, within a five minute drive from the Old Market and CBD, may further stimulate demand for retail and apartments in the area. Proposed Capitol Rows Apartments Mitchell&Associates, Inc. 301 North 24th Street O Copyright 2010 Page 32 Omaha,Nebraska C C c c Tr C C C c sr C C C C C C C C C C C C C 1 CD co 7 _N C... _I d f O° a) _ o ULI .c 9 m N En m . 0 I- s- (9(9(9(9(9(9(9(9(9(9(9(969(9(9(9(9(9(9(9(9(9(9(9(9(9(9(9(9(9 O U J C C C C C C C C C C C s)- C C C sr C C Cr Cr C C C C C C 1 COV N ' ' ' ' co co a) (D (D CO CO CO CO CO (O CO (O (O (O CO CO OD OD (O (O co co co co co t O) X 7 co-a0 os co co co-OD 05 6 au m co"co"a0 co"co-a() co'o0 co"a0 co O co"a0 co' I C) II) j C C C C C C C C C C C C C C C C C C C C C C C C C C CO a) IY 69 V)V)V)V>V>69 69 69 69 69 69 V)69 V)69 69 69 V)69 69 V>69(9 69 69 69 to V3 69 69 (O (D CO (0 (D CO (0 (0 CO CO 0 (D (0 CO O O (O CO CO CO (O CO CO (.D (O (O CO (D (D CO 00 CO COCO CO a) CO CO CO CO CO a) a) co 00 03 CO CO CO CO CO CO CO CO CO CO CO CO co a) x T N- N- N- N. P. N.P. N. N. N. N. N- N- N. 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O a). 69 E9 NVl69 01 Vi(9 V)6969 V!V!69 Vi 69 69 69 69 69 69 61 61 69 69 69 69 69 en V) is a) (A p)O C 0 rn a) 2:2; 0 0 0 c) 0 0 0 0 0 0 0 0 0 C) C) 0 0 C) C) C) C) 0 0 0 C) C) 0 0 C) 0 a) t C C C 0 I- > d a) U E W O• E N F-NL_ ..-a C o> Caa aa)) o 0 T• .) co ! m E -o a) n --1 a) OO ai N O 'N E O a' g - v CO0 COCOCOCOCOCOCOCOCOGO COCOCOCOCOaO aO 0O N (O N a0 aO aO (0 70 E `" (a,�7 a J a)'O 7 CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO 0 00 a0 co co CO 1 P. pEp X 5. 217. G. O C ' . ' ' r n N` n r- r-r n r- 1`N-r- N` n n Ns N` r r n 1s Ns n n h 1 d U N O Tr C) C) M C) C) C) C) (n C) C) co C) C) C) C) C) C) C) C) co C)C) C) M C) C) 1 C .Oa., ▪ ' (O (O CO CO CO CO (O (O OO CO CO (O OD (0 (O (D (D CO (O (O CO (O CO CO (D CO 0)LI. Ca 0 Iii O co 7 I Cr.C:C C C C V V C C Cr Cr.V Cr C C:C Cr.C C C C C C:C Cr I 'C♦- .7.E N O CO I a) C > a) ..L. J 69 69 69 Vl 69 V)Vf 69 69 64 69 69 V)69 69 V)V)V)69 V)V)V)09 69 V)69 69 69 69 V) E 9 O a) C C 7 O (O .- (O N (A CO N C 00 (0 (O (O 0 N N co (O O) OO O 0 r- OO N (O CO (0 C 0 0 C f/) a) ..a)_. O O .- N C) C (O CO N. N O) O N C) •- V' r- .N 7 '0 0 N 6) 113 c ~ F 0 C a) Q Iliw (a a m co 1- O L 0 C O Q Z N 3 Oa co c MARKET AREA DESCRIPTION AND ANALYSIS GOVERNMENTAL CHARACTERISTICS: The area is subject to City of Omaha laws, regulations, zoning and taxes. The area also falls within the boundaries of the Omaha School District, a popular district with growing school age population. The first new school in over 100 years was recently built (renovated from an existing building) at 20th Street and St. Mary's Avenue. Private parochial schools for all ages are readily available in surrounding neighborhoods. Police and fire protection is provided by the City of Omaha, with the headquarters for each near 15th and Jackson. The area appears adequately served by both. No adverse protective covenants are known to affect the neighborhood. All utilities including gas, electricity, water, sanitary sewer and storm sewers are available in the neighborhood and no abnormal costs are associated with these utilities. Roadways in this part of the city are in generally good condition, including brick streets of the Old Market, and provide easy access to the balance of the city. Metro Area Transit (MAT) buses regularly serve the general area. The Nebraska Department of Roads is in the process of reconstructing the I-480/North Freeway interchange. No other major changes or additions are expected to the roadway system in the neighborhood. ENVIRONMENTAL CHARACTERISTICS: Topography of the neighborhood is generally rated as rolling hills sloping down to the Missouri River with no abnormal variations occurring. The Missouri River at the east side of the subject neighborhood has been channeled and stabilized and does not pose a severe threat by flooding. Specifically, the subject is not in a flood hazard area of the Missouri River. Areas east and northeast of the subject are within flood hazard elevations of the nearby Missouri River, but channeling has stabilized and minimized these threats greatly (see Flood Plain Map in Addenda of this report). No other adverse environmental conditions were observed. SUMMARY: The downtown area appears to be a focal point for redevelopment. It should see continued demand for commercial space, as well as condominium/apartment dwellers needing close proximity to various corporate headquarters/employment centers. As a result, it is our opinion that the CBD and surrounding area should generally see stable to rising values in the long term for all types of real estate uses. Proposed Capitol Rows Apartments Mitchell&Associates, Inc. 301 North 24th Street O Copyright 2010 Page 33 Omaha,Nebraska ovation as a four star, 115-room, hotel. Marriott International renovated two old warehouse buildings at 9th-10th, Dodge to Douglas Streets, one operating as a Courtyard by Marriott, the other, an extended-stay, Residence Inn by Marriott. Hilton Hotels built the new Hilton Gardens full-service hotel and parking garage on the southwest corner of 10th and Dodge Streets. Hilton also built the new Hilton Convention (full service) hotel and parking garage west of 10th Street connected via elevated enclosed walkway to the Qwest Center. Most of the projects receive Tax Increment Financing Funds, block grants, low interest federal loans or home investment partnership financing from the City. All of this aids in the redevelopment of a popular area that might otherwise remain underutilized. In addition, the operation of two riverboat casinos in Council Bluffs, within a five minute drive from the Old Market and CBD, may further stimulate demand for retail and apartments in the area. 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J 69 69 69 Vl 69 V)Vf 69 69 64 69 69 V)69 69 V)V)V)69 V)V)V)09 69 V)69 69 69 69 V) E 9 O a) C C 7 O (O .- (O N (A CO N C 00 (0 (O (O 0 N N co (O O) OO O 0 r- OO N (O CO (0 C 0 0 C f/) a) ..a)_. O O .- N C) C (O CO N. N O) O N C) •- V' r- .N 7 '0 0 N 6) 113 c ~ F 0 C a) Q Iliw (a a m co 1- O L 0 C O Q Z N 3 Oa co c Attachment B For Rent, Downtown Market Survey April 2011 , Omaha Nebraska Appraisal 2010 th & Leavenworth TIF Application 0 INIIIIIII 0I I GO ' A I . [::1 rr,:411110A1.%'' -.. t10-' / „,......_ • 1 _` , 0 -.______ __________, [1 [11 ,... ---- ., 32 1 bedroom 7 2 bedroom Total Units 42 , , ___L _ E, - , ....._____ ___, • El ......,. __. .... .___ _ .....___ , _ ,_. _ .... _ _ ealk.NM(.M" 1.111.11.0.1r0110 iimMIWOMMICa 1.� • • FOR RENT 7— Aiodia Solutions. M.u.a M.N.v.% Downtown Market Survey Compliments of For Rent Media Solutions Apr-11 Average Occupancy=98.37% Property Prices #of Units Square Footage Specials/Traffic Level Occupancy/#of Employees#of Units 99% Studio $750-800 None Pre-leased Old Market Lofts 1/B- $815-1050 700-1150 4 Employees 2/B- $960-1400 1000-1500 3/B- Traffic Heavy 266 Units 100% Studio $400 12 500 None Conant 1/B- $430-510 24 600 2 Employees 2/B- $620 12 800 3/B- Traffic Heavy 53 Units 95% Studio None Cornerstone 1/B- $995-1250 19 924-1188 3 Employees 2/6- $1095-1750 19 1100-2500 3/B- Traffic Moderate 38 Units 96.70% Studio $545-590 465 None Orpheum Tower 1/B- $685-755 . 540-615 3 Employees 2/B- $760-925 730-1075 • 3/B- Traffic Moderate 130 Units 100.00% Studio $500 382 None Kensington Tower 1/B- $585-675 511-570 2 Employees 2/B- $700-840 640 3/B- Traffic Moderate 130 Units 100% Studio None Harney Street 1/B- $575-650 20 650-1045 3 Employees 2/B- 3/B- Traffic Heavy 20 Units 100% Studio $425 2 700 None Lincoln School 1/B- $550-585 18 700-1235 0 Employees 2/B- $600-650 7 3/B- Traffic Heavy 27 Units 95% Studio $650 450 None Skinner/Macaroni 1/B- $650-950 600-1600 2 Employees 2/B- $950-1600 1000-2000 3/B- $1,550 2400 Traffic Heavy 74 Units 98% Studio $490 650 None Union Plaza 1/B- $575 700 2 Employees 2/B- $650-750 750-825 3/B- Traffic Moderate 60 Units various corporate headquarters/employment centers. As a result, it is our opinion that the CBD and surrounding area should generally see stable to rising values in the long term for all types of real estate uses. Proposed Capitol Rows Apartments Mitchell&Associates, Inc. 301 North 24th Street O Copyright 2010 Page 33 Omaha,Nebraska ovation as a four star, 115-room, hotel. Marriott International renovated two old warehouse buildings at 9th-10th, Dodge to Douglas Streets, one operating as a Courtyard by Marriott, the other, an extended-stay, Residence Inn by Marriott. Hilton Hotels built the new Hilton Gardens full-service hotel and parking garage on the southwest corner of 10th and Dodge Streets. Hilton also built the new Hilton Convention (full service) hotel and parking garage west of 10th Street connected via elevated enclosed walkway to the Qwest Center. Most of the projects receive Tax Increment Financing Funds, block grants, low interest federal loans or home investment partnership financing from the City. All of this aids in the redevelopment of a popular area that might otherwise remain underutilized. In addition, the operation of two riverboat casinos in Council Bluffs, within a five minute drive from the Old Market and CBD, may further stimulate demand for retail and apartments in the area. 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J 69 69 69 Vl 69 V)Vf 69 69 64 69 69 V)69 69 V)V)V)69 V)V)V)09 69 V)69 69 69 69 V) E 9 O a) C C 7 O (O .- (O N (A CO N C 00 (0 (O (O 0 N N co (O O) OO O 0 r- OO N (O CO (0 C 0 0 C f/) a) ..a)_. O O .- N C) C (O CO N. N O) O N C) •- V' r- .N 7 '0 0 N 6) 113 c ~ F 0 C a) Q Iliw (a a m co 1- O L 0 C O Q Z N 3 Oa co c Studio $800 96% The Renata at The 1/B- $700-1250 None Brandeis 2/B- $1100-1700 16 Employees 3/B- $1700-2100 Traffic Moderate 122 Units 95% Studio • None Vinton School 1/B- 0 Employees 2/B- $639-669 17 950 3/B- $749 3 1250 Traffic Moderate 20 Units 100% Studio $700-750 556-962 None 22 Floors 1/B- $800-1133 0 Employees 2/B- 3/B- Traffic Moderate 22 Units 99% Studio $750-800 $300 deposit if you look&lease • • Lofts at 15th 1/B- $750-1000 2 Employees 2/B- $1100-1300 3/B- Traffic Moderate 61 Units 73% Old Market Place 1/B- $1860-2000 None 3 Employees 2/B- $1700-2010 3/B- Traffic Slow 750 19 1100-2500 3/B- Traffic Moderate 38 Units 96.70% Studio $545-590 465 None Orpheum Tower 1/B- $685-755 . 540-615 3 Employees 2/B- $760-925 730-1075 • 3/B- Traffic Moderate 130 Units 100.00% Studio $500 382 None Kensington Tower 1/B- $585-675 511-570 2 Employees 2/B- $700-840 640 3/B- Traffic Moderate 130 Units 100% Studio None Harney Street 1/B- $575-650 20 650-1045 3 Employees 2/B- 3/B- Traffic Heavy 20 Units 100% Studio $425 2 700 None Lincoln School 1/B- $550-585 18 700-1235 0 Employees 2/B- $600-650 7 3/B- Traffic Heavy 27 Units 95% Studio $650 450 None Skinner/Macaroni 1/B- $650-950 600-1600 2 Employees 2/B- $950-1600 1000-2000 3/B- $1,550 2400 Traffic Heavy 74 Units 98% Studio $490 650 None Union Plaza 1/B- $575 700 2 Employees 2/B- $650-750 750-825 3/B- Traffic Moderate 60 Units various corporate headquarters/employment centers. As a result, it is our opinion that the CBD and surrounding area should generally see stable to rising values in the long term for all types of real estate uses. Proposed Capitol Rows Apartments Mitchell&Associates, Inc. 301 North 24th Street O Copyright 2010 Page 33 Omaha,Nebraska ovation as a four star, 115-room, hotel. Marriott International renovated two old warehouse buildings at 9th-10th, Dodge to Douglas Streets, one operating as a Courtyard by Marriott, the other, an extended-stay, Residence Inn by Marriott. Hilton Hotels built the new Hilton Gardens full-service hotel and parking garage on the southwest corner of 10th and Dodge Streets. Hilton also built the new Hilton Convention (full service) hotel and parking garage west of 10th Street connected via elevated enclosed walkway to the Qwest Center. Most of the projects receive Tax Increment Financing Funds, block grants, low interest federal loans or home investment partnership financing from the City. All of this aids in the redevelopment of a popular area that might otherwise remain underutilized. In addition, the operation of two riverboat casinos in Council Bluffs, within a five minute drive from the Old Market and CBD, may further stimulate demand for retail and apartments in the area. Proposed Capitol Rows Apartments Mitchell&Associates, Inc. 301 North 24th Street O Copyright 2010 Page 32 Omaha,Nebraska C C c c Tr C C C c sr C C C C C C C C C C C C C 1 CD co 7 _N C... _I d f O° a) _ o ULI .c 9 m N En m . 0 I- s- (9(9(9(9(9(9(9(9(9(9(9(969(9(9(9(9(9(9(9(9(9(9(9(9(9(9(9(9(9 O U J C C C C C C C C C C C s)- C C C sr C C Cr Cr C C C C C C 1 COV N ' ' ' ' co co a) (D (D CO CO CO CO CO (O CO (O (O (O CO CO OD OD (O (O co co co co co t O) X 7 co-a0 os co co co-OD 05 6 au m co"co"a0 co"co-a() co'o0 co"a0 co O co"a0 co' I C) II) j C C C C C C C C C C C C C C C C C C C C C C C C C C CO a) IY 69 V)V)V)V>V>69 69 69 69 69 69 V)69 V)69 69 69 V)69 69 V>69(9 69 69 69 to V3 69 69 (O (D CO (0 (D CO (0 (0 CO CO 0 (D (0 CO O O (O CO CO CO (O CO CO (.D (O (O CO (D (D CO 00 CO COCO CO a) CO CO CO CO CO a) a) co 00 03 CO CO CO CO CO CO CO CO CO CO CO CO co a) x T N- N- N- N. P. N.P. N. N. N. N. N- N- N. 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O a). 69 E9 NVl69 01 Vi(9 V)6969 V!V!69 Vi 69 69 69 69 69 69 61 61 69 69 69 69 69 en V) is a) (A p)O C 0 rn a) 2:2; 0 0 0 c) 0 0 0 0 0 0 0 0 0 C) C) 0 0 C) C) C) C) 0 0 0 C) C) 0 0 C) 0 a) t C C C 0 I- > d a) U E W O• E N F-NL_ ..-a C o> Caa aa)) o 0 T• .) co ! m E -o a) n --1 a) OO ai N O 'N E O a' g - v CO0 COCOCOCOCOCOCOCOCOGO COCOCOCOCOaO aO 0O N (O N a0 aO aO (0 70 E `" (a,�7 a J a)'O 7 CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO 0 00 a0 co co CO 1 P. pEp X 5. 217. G. O C ' . ' ' r n N` n r- r-r n r- 1`N-r- N` n n Ns N` r r n 1s Ns n n h 1 d U N O Tr C) C) M C) C) C) C) (n C) C) co C) C) C) C) C) C) C) C) co C)C) C) M C) C) 1 C .Oa., ▪ ' (O (O CO CO CO CO (O (O OO CO CO (O OD (0 (O (D (D CO (O (O CO (O CO CO (D CO 0)LI. Ca 0 Iii O co 7 I Cr.C:C C C C V V C C Cr Cr.V Cr C C:C Cr.C C C C C C:C Cr I 'C♦- .7.E N O CO I a) C > a) ..L. J 69 69 69 Vl 69 V)Vf 69 69 64 69 69 V)69 69 V)V)V)69 V)V)V)09 69 V)69 69 69 69 V) E 9 O a) C C 7 O (O .- (O N (A CO N C 00 (0 (O (O 0 N N co (O O) OO O 0 r- OO N (O CO (0 C 0 0 C f/) a) ..a)_. O O .- N C) C (O CO N. N O) O N C) •- V' r- .N 7 '0 0 N 6) 113 c ~ F 0 C a) Q Iliw (a a m co 1- O L 0 C O Q Z N 3 Oa co c 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 154th 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 GI - 7 - // RECEIVED BY 4-61-4 r'AA!i ING MADE FATE MAILED `9 ` /5 7/ Traffic Moderate 38 Units 96.70% Studio $545-590 465 None Orpheum Tower 1/B- $685-755 . 540-615 3 Employees 2/B- $760-925 730-1075 • 3/B- Traffic Moderate 130 Units 100.00% Studio $500 382 None Kensington Tower 1/B- $585-675 511-570 2 Employees 2/B- $700-840 640 3/B- Traffic Moderate 130 Units 100% Studio None Harney Street 1/B- $575-650 20 650-1045 3 Employees 2/B- 3/B- Traffic Heavy 20 Units 100% Studio $425 2 700 None Lincoln School 1/B- $550-585 18 700-1235 0 Employees 2/B- $600-650 7 3/B- Traffic Heavy 27 Units 95% Studio $650 450 None Skinner/Macaroni 1/B- $650-950 600-1600 2 Employees 2/B- $950-1600 1000-2000 3/B- $1,550 2400 Traffic Heavy 74 Units 98% Studio $490 650 None Union Plaza 1/B- $575 700 2 Employees 2/B- $650-750 750-825 3/B- Traffic Moderate 60 Units various corporate headquarters/employment centers. As a result, it is our opinion that the CBD and surrounding area should generally see stable to rising values in the long term for all types of real estate uses. Proposed Capitol Rows Apartments Mitchell&Associates, Inc. 301 North 24th Street O Copyright 2010 Page 33 Omaha,Nebraska ovation as a four star, 115-room, hotel. Marriott International renovated two old warehouse buildings at 9th-10th, Dodge to Douglas Streets, one operating as a Courtyard by Marriott, the other, an extended-stay, Residence Inn by Marriott. Hilton Hotels built the new Hilton Gardens full-service hotel and parking garage on the southwest corner of 10th and Dodge Streets. Hilton also built the new Hilton Convention (full service) hotel and parking garage west of 10th Street connected via elevated enclosed walkway to the Qwest Center. Most of the projects receive Tax Increment Financing Funds, block grants, low interest federal loans or home investment partnership financing from the City. All of this aids in the redevelopment of a popular area that might otherwise remain underutilized. In addition, the operation of two riverboat casinos in Council Bluffs, within a five minute drive from the Old Market and CBD, may further stimulate demand for retail and apartments in the area. Proposed Capitol Rows Apartments Mitchell&Associates, Inc. 301 North 24th Street O Copyright 2010 Page 32 Omaha,Nebraska C C c c Tr C C C c sr C C C C C C C C C C C C C 1 CD co 7 _N C... _I d f O° a) _ o ULI .c 9 m N En m . 0 I- s- (9(9(9(9(9(9(9(9(9(9(9(969(9(9(9(9(9(9(9(9(9(9(9(9(9(9(9(9(9 O U J C C C C C C C C C C C s)- C C C sr C C Cr Cr C C C C C C 1 COV N ' ' ' ' co co a) (D (D CO CO CO CO CO (O CO (O (O (O CO CO OD OD (O (O co co co co co t O) X 7 co-a0 os co co co-OD 05 6 au m co"co"a0 co"co-a() co'o0 co"a0 co O co"a0 co' I C) II) j C C C C C C C C C C C C C C C C C C C C C C C C C C CO a) IY 69 V)V)V)V>V>69 69 69 69 69 69 V)69 V)69 69 69 V)69 69 V>69(9 69 69 69 to V3 69 69 (O (D CO (0 (D CO (0 (0 CO CO 0 (D (0 CO O O (O CO CO CO (O CO CO (.D (O (O CO (D (D CO 00 CO COCO CO a) CO CO CO CO CO a) a) co 00 03 CO CO CO CO CO CO CO CO CO CO CO CO co a) x T N- N- N- N. P. N.P. N. N. N. N. N- N- N. 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J 69 69 69 Vl 69 V)Vf 69 69 64 69 69 V)69 69 V)V)V)69 V)V)V)09 69 V)69 69 69 69 V) E 9 O a) C C 7 O (O .- (O N (A CO N C 00 (0 (O (O 0 N N co (O O) OO O 0 r- OO N (O CO (0 C 0 0 C f/) a) ..a)_. O O .- N C) C (O CO N. N O) O N C) •- V' r- .N 7 '0 0 N 6) 113 c ~ F 0 C a) Q Iliw (a a m co 1- O L 0 C O Q Z N 3 Oa co c • OMAHA, NF Cityof Omafia, Webraskg I' 74'4' 1819 Farnam Suite LC 1n741401, 41.*:11 1,, -Omaha, Nebraska 68183-0112 0 ;. _ Buster Brown (402) 444-5550 �A � City Clerk FAX (402) 444-5263 0'P4TFp FEBR�t'4- "NOTICE TO TAXING AUTHORITY" Notice is hereby given that the Omaha City Council has set Tuesday, October 4, 2011 at 2:00 p.m. as the date of Public Hearing on the Lofts at 14th, LLC Tax Increment Financing Redevelopment Project Plan. The Lofts at 14th, LLC Tax Increment Financing Redevelopment Project Plan proposes the redevelopment of the former Safeway Cab Building site located at 802 South 14th Street into a new 4-story building consisting of 42 market-rate apartments, comprised of a unit mix of studios, one and two bedroom units. The ground level will feature an entry plaza, elevator lobby and 37 enclosed parking stalls. A portion of the second floor will provide an outdoor roof deck accessible to the building residents. This project is a response to the demand for additional market-rate apartment units in the downtown area. Tax Increment Financing in an amount up to $450,000.00 will be used to offset the cost of acquisition, site work, architectural and engineering, utility assessments and public improvements on- and off-site of this project. The total project cost is estimated to be $5,860,621.00. 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 Lincoln School 1/B- $550-585 18 700-1235 0 Employees 2/B- $600-650 7 3/B- Traffic Heavy 27 Units 95% Studio $650 450 None Skinner/Macaroni 1/B- $650-950 600-1600 2 Employees 2/B- $950-1600 1000-2000 3/B- $1,550 2400 Traffic Heavy 74 Units 98% Studio $490 650 None Union Plaza 1/B- $575 700 2 Employees 2/B- $650-750 750-825 3/B- Traffic Moderate 60 Units various corporate headquarters/employment centers. As a result, it is our opinion that the CBD and surrounding area should generally see stable to rising values in the long term for all types of real estate uses. Proposed Capitol Rows Apartments Mitchell&Associates, Inc. 301 North 24th Street O Copyright 2010 Page 33 Omaha,Nebraska ovation as a four star, 115-room, hotel. Marriott International renovated two old warehouse buildings at 9th-10th, Dodge to Douglas Streets, one operating as a Courtyard by Marriott, the other, an extended-stay, Residence Inn by Marriott. Hilton Hotels built the new Hilton Gardens full-service hotel and parking garage on the southwest corner of 10th and Dodge Streets. Hilton also built the new Hilton Convention (full service) hotel and parking garage west of 10th Street connected via elevated enclosed walkway to the Qwest Center. Most of the projects receive Tax Increment Financing Funds, block grants, low interest federal loans or home investment partnership financing from the City. All of this aids in the redevelopment of a popular area that might otherwise remain underutilized. In addition, the operation of two riverboat casinos in Council Bluffs, within a five minute drive from the Old Market and CBD, may further stimulate demand for retail and apartments in the area. 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J 69 69 69 Vl 69 V)Vf 69 69 64 69 69 V)69 69 V)V)V)69 V)V)V)09 69 V)69 69 69 69 V) E 9 O a) C C 7 O (O .- (O N (A CO N C 00 (0 (O (O 0 N N co (O O) OO O 0 r- OO N (O CO (0 C 0 0 C f/) a) ..a)_. O O .- N C) C (O CO N. N O) O N C) •- V' r- .N 7 '0 0 N 6) 113 c ~ F 0 C a) Q Iliw (a a m co 1- O L 0 C O Q Z N 3 Oa co c . �A H B. 8 ' lE �.rA c BLOCK 198 _• �,Am e E —ria a 1 p I` ne 15TH STREET S. o.R F >< .� N00°06'27 W 131.99' i E E 4 e ,.w w r mw m .hE;i .AD Da • b F DDN,, 1///�/// / %////f/i: /// //` e g :k., It 11 DJrn lQC' "'i,ez w ill i o 1 r ce2 <il. 1 %iiii/ /%�/�//i/c v/dil; S. I 6 N (10 n At y a U / y / q N m �g .-.1/9 /1 � —I' a fi t� g ,,i,.4. a `� W `• % o%I P I o Q Q _ ,1 -/9 ap, CYR! EC c0'.. '� algp„AryfM 1,W , S00°J0' " WWWWW30.0.0.0.0.2,32' ,,,; ,, R.D.20 CONCRETE SIORMI•:__ v . `e 14TH STREET o:TDR�« t d°�` M.VC.S EN " CR .I ��•' of I a liO il a g a I �� U $g 11 11 Al 19 Mill A li III 11111L1 !(i141{11��si1�1i lim � 8 € iI .� 0 as RQ i� a 1 ; tt[;,�!t ,1 II II�i ill `! " 4}T., r P, $ li 1 lilt !11 ! r1IlitI' 1{P' T > lB 1i 11 !#!1 �! I ss _ IC2 tIII I. ;.µ,6 � I § f _ 1 N i I 3 it g f p Iiii 1 1 11 2 9 A al al 9 a li A; s 0 € Z 2 tg I NATIONAL FLOOD INSURANCE PftoGRAhI v RAVI . 1 Ili r 4i' ,I 1 .i., 51 . - , B0010E116 I RUM.I.'E.X09•MOM LEGAL DEE-CROWN AND CERTIFICATION. _ - k I I I I I-® LOTS 1 THRU 4,BLOCK 199 e;:a: E&A CONSULTING GROUP,INC. R ; ALTA 1 AGSM ENGINEERING°PLANNING o FIELD SERVICES y}¢ LAND TITLE SURVEY ORIGINAL CITY OF OMAHA g DDEEVS CORM NEEMSM IE(4G I Mal OWN If Y'M tl 1<r PNURE:Pm)Eg1rro Fame... e... >I R derate 60 Units various corporate headquarters/employment centers. As a result, it is our opinion that the CBD and surrounding area should generally see stable to rising values in the long term for all types of real estate uses. Proposed Capitol Rows Apartments Mitchell&Associates, Inc. 301 North 24th Street O Copyright 2010 Page 33 Omaha,Nebraska ovation as a four star, 115-room, hotel. Marriott International renovated two old warehouse buildings at 9th-10th, Dodge to Douglas Streets, one operating as a Courtyard by Marriott, the other, an extended-stay, Residence Inn by Marriott. Hilton Hotels built the new Hilton Gardens full-service hotel and parking garage on the southwest corner of 10th and Dodge Streets. Hilton also built the new Hilton Convention (full service) hotel and parking garage west of 10th Street connected via elevated enclosed walkway to the Qwest Center. Most of the projects receive Tax Increment Financing Funds, block grants, low interest federal loans or home investment partnership financing from the City. All of this aids in the redevelopment of a popular area that might otherwise remain underutilized. In addition, the operation of two riverboat casinos in Council Bluffs, within a five minute drive from the Old Market and CBD, may further stimulate demand for retail and apartments in the area. 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J 69 69 69 Vl 69 V)Vf 69 69 64 69 69 V)69 69 V)V)V)69 V)V)V)09 69 V)69 69 69 69 V) E 9 O a) C C 7 O (O .- (O N (A CO N C 00 (0 (O (O 0 N N co (O O) OO O 0 r- OO N (O CO (0 C 0 0 C f/) a) ..a)_. O O .- N C) C (O CO N. N O) O N C) •- V' r- .N 7 '0 0 N 6) 113 c ~ F 0 C a) Q Iliw (a a m co 1- O L 0 C O Q Z N 3 Oa co c 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 802 South 14th Street is within an area previously declared "blighted and substandard" and in need of redevelopment, hereinafter called a community redevelopment area; and, WHEREAS, this Lofts at 14th, LLC Tax Increment Financing Redevelopment Project Plan for the project site was approved by the City of Omaha Planning Board at their August 3, 2011 meeting, and previously approved by the TIF Committee; and, WHEREAS, the project site is located at 802 South 14th Street as per the legal description(see Exhibit"A" for complete legal description); and, WHEREAS, the Plan contemplates the redevelopment of the former Safeway Cab Building site into a new 4-story building consisting of 42 market-rate apartments, which entails a unit mix of studios, one- and two-bedroom units, in addition to a ground-level entry plaza, elevator lobby, 37 enclosed parking stalls, and an outdoor roof deck comprising a portion of the 2nd floor accessible to the building residents as described in Exhibit "B", attached hereto and made a part hereof; and, WHEREAS, the Lofts at 14th, LLC Tax Increment Financing Redevelopment Project Plan recommends the City's participation through the allocation of Tax Increment Financing (TIF) in an amount up to $450,000.00 to offset costs of acquisition, sitework, architectural and engineering, utility assessments and public improvements on- and off-site of this project; total project cost estimates are $5,860,621.00 with approximately $1,078,671.00 in TIF eligible costs; and, WHEREAS, the Plan presents a project based on estimated figures and projections that are subject to change as project costs are finalized; and, By Councilmember Adopted City Clerk Approved Mayor yment centers. As a result, it is our opinion that the CBD and surrounding area should generally see stable to rising values in the long term for all types of real estate uses. Proposed Capitol Rows Apartments Mitchell&Associates, Inc. 301 North 24th Street O Copyright 2010 Page 33 Omaha,Nebraska ovation as a four star, 115-room, hotel. Marriott International renovated two old warehouse buildings at 9th-10th, Dodge to Douglas Streets, one operating as a Courtyard by Marriott, the other, an extended-stay, Residence Inn by Marriott. Hilton Hotels built the new Hilton Gardens full-service hotel and parking garage on the southwest corner of 10th and Dodge Streets. Hilton also built the new Hilton Convention (full service) hotel and parking garage west of 10th Street connected via elevated enclosed walkway to the Qwest Center. Most of the projects receive Tax Increment Financing Funds, block grants, low interest federal loans or home investment partnership financing from the City. All of this aids in the redevelopment of a popular area that might otherwise remain underutilized. In addition, the operation of two riverboat casinos in Council Bluffs, within a five minute drive from the Old Market and CBD, may further stimulate demand for retail and apartments in the area. 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N O) O N C) •- V' r- .N 7 '0 0 N 6) 113 c ~ F 0 C a) Q Iliw (a a m co 1- O L 0 C O Q Z N 3 Oa co c C-25A CITY OF OMAHA LEGISLATIVE CHAMBER Omaha,Nebraska Page 2 WHEREAS, Section 18-2108 of the Nebraska Revised Statutes requires the City of Omaha to adopt a redevelopment plan before taking an active part in a redevelopment project; including the division of ad valorem taxes for a period not to exceed fifteen years under Sections 18-2147 through 18-2150, Revised Statutes of Nebraska; and, NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF OMAHA: THAT, the attached Lofts at 14th, LLC Tax Increment Financing Redevelopment Project Plan proposes the redevelopment of the former Safeway Cab Building site located at 802 South 14th Street into a new 4-story building consisting of 42 market-rate apartments, which entails a unit mix of studios, one- and two-bedroom units, in addition to ground level entry plaza, elevator lobby, 37 enclosed parking stalls, and an outdoor roof deck comprising a portion of the 2nd floor accessible to the building residents which includes the City's participation through the allocation of Tax Increment Financing (TIF) in an amount up to $450)000.00 to offset costs of acquisition, sitework, architectural and engineering, utility assessments and public improvements on- and off-site of this project with a total project cost estimates of $5,860,621.00 with approximately $1,078,671.00 in TIF eligible costs, 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: S CITY~ATTORNEY DATE Plnlsf1583-res 2B y �. ncilmember Adopted OCT - 4 2011 7^69 e City C rk/ 0/ Approved r, • ��/ Mayor rchitectural and engineering, utility assessments and public improvements on- and off-site of this project; total project cost estimates are $5,860,621.00 with approximately $1,078,671.00 in TIF eligible costs; and, WHEREAS, the Plan presents a project based on estimated figures and projections that are subject to change as project costs are finalized; and, By Councilmember Adopted City Clerk Approved Mayor yment centers. As a result, it is our opinion that the CBD and surrounding area should generally see stable to rising values in the long term for all types of real estate uses. Proposed Capitol Rows Apartments Mitchell&Associates, Inc. 301 North 24th Street O Copyright 2010 Page 33 Omaha,Nebraska ovation as a four star, 115-room, hotel. Marriott International renovated two old warehouse buildings at 9th-10th, Dodge to Douglas Streets, one operating as a Courtyard by Marriott, the other, an extended-stay, Residence Inn by Marriott. Hilton Hotels built the new Hilton Gardens full-service hotel and parking garage on the southwest corner of 10th and Dodge Streets. Hilton also built the new Hilton Convention (full service) hotel and parking garage west of 10th Street connected via elevated enclosed walkway to the Qwest Center. Most of the projects receive Tax Increment Financing Funds, block grants, low interest federal loans or home investment partnership financing from the City. All of this aids in the redevelopment of a popular area that might otherwise remain underutilized. In addition, the operation of two riverboat casinos in Council Bluffs, within a five minute drive from the Old Market and CBD, may further stimulate demand for retail and apartments in the area. Proposed Capitol Rows Apartments Mitchell&Associates, Inc. 301 North 24th Street O Copyright 2010 Page 32 Omaha,Nebraska C C c c Tr C C C c sr C C C C C C C C C C C C C 1 CD co 7 _N C... _I d f O° a) _ o ULI .c 9 m N En m . 0 I- s- (9(9(9(9(9(9(9(9(9(9(9(969(9(9(9(9(9(9(9(9(9(9(9(9(9(9(9(9(9 O U J C C C C C C C C C C C s)- C C C sr C C Cr Cr C C C C C C 1 COV N ' ' ' ' co co a) (D (D CO CO CO CO CO (O CO (O (O (O CO CO OD OD (O (O co co co co co t O) X 7 co-a0 os co co co-OD 05 6 au m co"co"a0 co"co-a() co'o0 co"a0 co O co"a0 co' I C) II) j C C C C C C C C C C C C C C C C C C C C C C C C C C CO a) IY 69 V)V)V)V>V>69 69 69 69 69 69 V)69 V)69 69 69 V)69 69 V>69(9 69 69 69 to V3 69 69 (O (D CO (0 (D CO (0 (0 CO CO 0 (D (0 CO O O (O CO CO CO (O CO CO (.D (O (O CO (D (D CO 00 CO COCO CO a) CO CO CO CO CO a) a) co 00 03 CO CO CO CO CO CO CO CO CO CO CO CO co a) x T N- N- N- N. P. N.P. N. N. N. N. N- N- N. 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It Y� \V N with approximately $1,078,671.00 in TIF eligible costs, 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: S CITY~ATTORNEY DATE Plnlsf1583-res 2B y �. ncilmember Adopted OCT - 4 2011 7^69 e City C rk/ 0/ Approved r, • ��/ Mayor rchitectural and engineering, utility assessments and public improvements on- and off-site of this project; total project cost estimates are $5,860,621.00 with approximately $1,078,671.00 in TIF eligible costs; and, WHEREAS, the Plan presents a project based on estimated figures and projections that are subject to change as project costs are finalized; and, By Councilmember Adopted City Clerk Approved Mayor yment centers. As a result, it is our opinion that the CBD and surrounding area should generally see stable to rising values in the long term for all types of real estate uses. Proposed Capitol Rows Apartments Mitchell&Associates, Inc. 301 North 24th Street O Copyright 2010 Page 33 Omaha,Nebraska ovation as a four star, 115-room, hotel. Marriott International renovated two old warehouse buildings at 9th-10th, Dodge to Douglas Streets, one operating as a Courtyard by Marriott, the other, an extended-stay, Residence Inn by Marriott. Hilton Hotels built the new Hilton Gardens full-service hotel and parking garage on the southwest corner of 10th and Dodge Streets. Hilton also built the new Hilton Convention (full service) hotel and parking garage west of 10th Street connected via elevated enclosed walkway to the Qwest Center. Most of the projects receive Tax Increment Financing Funds, block grants, low interest federal loans or home investment partnership financing from the City. All of this aids in the redevelopment of a popular area that might otherwise remain underutilized. In addition, the operation of two riverboat casinos in Council Bluffs, within a five minute drive from the Old Market and CBD, may further stimulate demand for retail and apartments in the area. 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N O) O N C) •- V' r- .N 7 '0 0 N 6) 113 c ~ F 0 C a) Q Iliw (a a m co 1- O L 0 C O Q Z N 3 Oa co c 1 "NOTICE TO PUBLIC" NOTICE OF PUBLIC HEARING ON THE Proof of publication LOFTS AT 14TH,LLC TAX INCREMENT FINANCING REDEVELOPMENTN , AFFIDAVIT P Notice is hereby given that the Omaha City I Council has set Tues- State of Nebraska, County of Douglas, ss: day,October 4,2011 at 2:00 p.m.as the date of Public Hearing on the LLC T Increment4th,Financingg April Christenson, being duly sworn, deposes and says that he/she is an Redevelopment Project Plan. employee of The Omaha World-Herald, a legal daily newspaper printed and The Lofts at 14th, LLC Tax IncrementFinanc- ing published in the countyof Douglas and State of Nebraska, and of general Redevelopment g Project Plan proposes the redevelopment ofy circulation in the Counties of Douglas,and Sa and State of Nebraska,and that the former Safeway g � rpy • Cab Building site locat- ed at 802 South 14th the attachedprinted notice waspublished in the said.newspaper on the 15u' and , Street into a new 4- story building consist- , • an artm n market-rater ,. 22nd of September, 2011, and that said newspaper is a.legal newspaper under the of a unit mix of studios, • • one and two bedroom . statutes of the State of Nebraska. The above "facts are within mypersonal units. The ground level will feature an entry • plaza, elevator lobby . , knowledge. The,Omaha World-Herald has 1an average circulation of 153,944 and 37 enclosed park- ing stalls. A portion of • the second floor will Daily and 188,810 Sunday,in 2011. provide an outdoor , roof deck accessible to the building residents. ' This project is a re- sponse to the demand • for additional market- rate apartment units in , • the downtown area. • Tax Increment Financ- (Signed) _ �/� Title:Account Executive ' ing in an amount up to , $450 000.00 will be used to offset the cost of ac- quisition,site work,ar- • chitectural and engi- �� ment60 •ne ts andndpublic im- i sg, utilityassess- Subscribed in my presence and sworn to;before me this day of provements a of o p and % e n�p,_, �_„ ,2011. off-site n this project. �"`�' `� "` The total project cost is estimated to be $5,860,621.00. ,, A copy of said plan Is available for public in- spection in the City GENERAL NOTARY-State of NebraskaGt./ .i eV\- •Clerk's Office. MARCIA A.GUSTAFSON Public Hearing will be ' ` My Comm.Exp.June 30,2012 Notary Public held before the City Council of the City of Omaha, in the Legisla- 1 tive Chambers, Omaha/Douglas •Civic I Center, 1819 Farnam Street,Omaha,Nebras- ka. Buster Brown Printer's Fee$ City Clerk Affidavit ALL REQUESTS FOR Paid By SIGN LANGUAGE INTER- PRETERS(SIGNERS) WILL REQUIRE A MINI- MUM OF 48 HOURS AD- VANCE NOTICE. IF ALTERNATIVE FOR- MATS ARE NEEDED ALL I REQUESTS WILL RE- QUIRE A MINIMUM OF 72 HOURS ADVANCE 1 NOTICE. PLEASE NOTIFY CINDY FORD THINNES-444- • 5553, IF ARRANGEMENTS NEED TO BE MADE. in the area. Proposed Capitol Rows Apartments Mitchell&Associates, Inc. 301 North 24th Street O Copyright 2010 Page 32 Omaha,Nebraska C C c c Tr C C C c sr C C C C C C C C C C C C C 1 CD co 7 _N C... _I d f O° a) _ o ULI .c 9 m N En m . 0 I- s- (9(9(9(9(9(9(9(9(9(9(9(969(9(9(9(9(9(9(9(9(9(9(9(9(9(9(9(9(9 O U J C C C C C C C C C C C s)- C C C sr C C Cr Cr C C C C C C 1 COV N ' ' ' ' co co a) (D (D CO CO CO CO CO (O CO (O (O (O CO CO OD OD (O (O co co co co co t O) X 7 co-a0 os co co co-OD 05 6 au m co"co"a0 co"co-a() co'o0 co"a0 co O co"a0 co' I C) II) j C C C C C C C C C C C C C C C C C C C C C C C C C C CO a) IY 69 V)V)V)V>V>69 69 69 69 69 69 V)69 V)69 69 69 V)69 69 V>69(9 69 69 69 to V3 69 69 (O (D CO (0 (D CO (0 (0 CO CO 0 (D (0 CO O O (O CO CO CO (O CO CO (.D (O (O CO (D (D CO 00 CO COCO CO a) CO CO CO CO CO a) a) co 00 03 CO CO CO CO CO CO CO CO CO CO CO CO co a) x T N- N- N- N. P. N.P. N. N. N. N. N- N- N. 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J 69 69 69 Vl 69 V)Vf 69 69 64 69 69 V)69 69 V)V)V)69 V)V)V)09 69 V)69 69 69 69 V) E 9 O a) C C 7 O (O .- (O N (A CO N C 00 (0 (O (O 0 N N co (O O) OO O 0 r- OO N (O CO (0 C 0 0 C f/) a) ..a)_. O O .- N C) C (O CO N. N O) O N C) •- V' r- .N 7 '0 0 N 6) 113 c ~ F 0 C a) Q Iliw (a a m co 1- O L 0 C O Q Z N 3 Oa co c "NOTICE TO PUBLIC" THE DAILY RECORD NOTICE OF PUBLIC HEARING ON I THEN LOFTS AT IN LLCOF O��A A TAX INCREMENT FINANCINGI l�ll"1HA REDEVELOPMENT PLAN Notice is hereby given that the Omaha City RONALD A. HENNINGSEN, Publisher Council has set Tuesday,October 4,2011 at 2:00.p.m.as the date of Public Hearing on PROOF OF PUBLICATION the Lofts at 14',LLC Tax Increment Financing Redevelopment Project Plan. The Lofts at 14', LLC Tax Increment Financing Redevelopment Project Plan UNITED STATES OF AMERICA, proposes the redevelopment of the former Safeway Cab Building site located at 802 The State of Nebraska, SS. South 14'Street into a new 4-story building District of Nebraska, consisting of 42 market-rate apartments, comprised of a unit mix of studios,one and County of Douglas, two bedroom units. The ground level will feature an entry plaza,elevator lobby and 37 City of Omaha, . enclosed parking stalls. A portion of the second floor will provide an outdoor roof deck' accessible to the building residents. This J.BOYD project is a response to the demand for additional market-rate apartment units in the being duly sworn,deposes and says that she is downtown area. Tax Increment Financing in an amount up to$450,000.00 will be used to offset the cost of acquisition, site work, LEGAL EDITOR architectural and engineering, utility assessments and public improvements on- of THE DAILY RECORD, of Omaha, a legal newspaper, printed and and off-site of this project. The total project cost is estimated to be$5,860,621.00. published daily in the English language, having a bona fide paid A copy of said plan is available for public circulation in Douglas County in excess of 300 copies, printed in inspection in the City Clerk's Office. Public Hearing will be held before the Omaha,in said County of Douglas,for more than fifty-two weeks last City Council of the City of Omaha, in the past; that the printed notice hereto attached was published in THE Legislative Chambers, Omaha/Douglas Civic Center,1819 Famam Street,Omaha,Nebraska. DAILY RECORD,of Omaha,on • BUSTER BROWN, City Clerk September 15 and 22 , 2011 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 OF 72 HOURS ADVANCE NOTICE. • That said Newspaper during that time was '_ ' y published and PLEASE NOTIFY CINDY FORD THINNES- 4445553, IF ARRANGEMENTS NEED TO BE in general•cirefilati'o:Ail the County of Dougl.•• $�:A:to of Nebraska. MADE. —' H� .. h9-15&22-11 �f CAP:.-OAERq<'. 'Q l�flI Subscribed in my prep ce and sworn to before NOTARY P b�is ter kOellSSIl*N 6tlk 4 me this 22nd ay of EXPIRES •A ititinal Copies $ Sep mb o_L,1 f�F OF • 'J11E-� Notary P i • for o 1 minty, of Ne ask ka. Buster Brown Printer's Fee$ City Clerk Affidavit ALL REQUESTS FOR Paid By SIGN LANGUAGE INTER- PRETERS(SIGNERS) WILL REQUIRE A MINI- MUM OF 48 HOURS AD- VANCE NOTICE. IF ALTERNATIVE FOR- MATS ARE NEEDED ALL I REQUESTS WILL RE- QUIRE A MINIMUM OF 72 HOURS ADVANCE 1 NOTICE. PLEASE NOTIFY CINDY FORD THINNES-444- • 5553, IF ARRANGEMENTS NEED TO BE MADE. in the area. 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