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RES 2008-0460 - DLR Group Headquarters Building Project TIF redevelopment project plan oM NF���. °�, - '� i~ Planning Department S �~ r�r1 5' vic Center ('��S V 4,v k G'- ' 1819 Farnam Street,1Suite 1100 2' i mm Omaha,Nebraska 68183 c+®.t� �'1 [�l Ac ro — (402)444-5150 �^TFD FEBW C I �"'" . . Telefax(402)444-6140 Steven N.Jensen,MCP,LA City of Omaha Director Mike Fahey,Mayor April 1, 2008 Honorable President and Members of the City Council, The attached Resolution transmits the approximately 0.37 acre DLR Group Headquarters Building Project Tax Increment Financing (TIF) Redevelopment Project Plan for the redevelopment of an area located at approximately 65th and Frances Streets. The plan area is located within the Aksarben Village Redevelopment Area northwest of 63rd & Center Street. The DLR Group Headquarters Building Project located at approximately 65th and Frances Streets compliments and is located within the Noddle Development Company Tax Increment Financing Redevelopment Project Plan Area for the Aksarben Village Redevelopment Project, which provides for the redevelopment of the area through the development of a four building mixed-use complex with two 2-story buildings, one 4-story building and an adjacent 4-level 600 stall parking garage for mixed uses including ground floor retail/service business space and upper floor office space. This development enhances the development of The Aksarben Village, A Urban Mixed-Use Community. DLR Group Headquarters Building project cost is estimated to be approximately $8,335,070 funded in part with TIF up to $1,000,000 as a part of total TIF eligible cost of$1,811,440. The City Planning Board recommended approval of the DLR Group Headquarters Building Tax Increment Financing (TIF) Redevelopment Project Plan at its meeting on December 5, 2007. Your favorable consideration of this Resolution is requested. Si ce y, • R- '�� ,`• • 'ty Council for Consideration Steven N. J nsen, ICP, L• -_�'' Date Mayor's Office/Title Date Planning D or Approved as to Funding: ,/-- Carol A. Ebdon Date ert G. Stu be, .E. Date Finance Director ublic Works Director PUBLICATION OF PUBLIC HEARING: April 3, 2008 and April 10, 2008 PUBLIC HEARING: April 22, 2008 PLNAMR1077—cover letter ouncil of the City of Omaha, in the Legislative Chambers, Omaha/Douglas Civic Center,1819 Farnam Street, Omaha,Nebraska. Buster Brown Subscribed in my presence and sworn to before me this day of City Clerk V/t ,2008. ALL REQUESTS FOR SIGN u LANGUAGE INTERPRETERS (SIGNERS)WILL REQUIRE A „�,,, -..w.. MINIMUM OF 48 HOURS ��r of ,, • ADVANCE NOTICE. IF ALTERNATIVE FORMATS MIRANDA KAY SMITH ARE NEEDED ALL REQUESTS WILL REQUIRE A MINIMUM General Notary OF 72 HOURS ADVANCE NOTICE. ti}ate Ot Nebratika BRRANGE NOTIFY ED My commIu on Explret Jan ie Z�l2 Notary Publi IF ARRANGEMENTS NEED t0 BE MADE Printer's Fee$ Affidavit Paid By County, VKAO, ,: Z-v, N,47.4:4•••Ot .C,',.... _ ,.1 ..A • i . • _____s 1 ...:,): g I.,.-- ,• .!..-:•..- -' ".. ,..... .:...Zd. ,AR"-,- ,,p, 4,...,..e.,..o•...41 .•`"4 .''. . . . 12th Si. i 12.1h Pt ,...: SVis-At •• . , -.,-'-..... .L','W 1 • i .e. , . _ft.,• ..!.,'!i,-,,... ,,,4.,,,., f tt .!,.7.1;3. -1,-. • • ,..-- ,, 1 , • v•.:. ,. 23_ •'Mt).•. • ':441Y,. '',',.-1 ..4".` 1 ' . J-•ive-ri,--,,p77,1' ,'".,',...,;;;;:.,.t '',",,V'4.,-:r ",!,,,,,',,,i,'-', t..,;...,f,_i • IkVt f gr:747:,, fiRiNE1:.0,43i.,41-A -i 7, ' ,',.'' ' ,tY. ' ',:.,;::,'''';" •••:721. 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Jensen, AICP, LA, Director Planning Department Omaha/Douglas Civic Center 1819 Farnam Street Omaha, Nebraska 68183 Omaha, Nebraska 68183 \ ,--- ',71.. ,a. ...Cf4 po. ›. .-1- Lila O C O' P i!. N AD y A.. a CD po CD O .. �C .. 1—• cn oo 0 ,-). to 402-341-6000 15 • DIN 1 4 I 1 150 YEARS of COMMITMENT to CUSTOMERS. INTER-OFFICE COMMUNICATION Date: November 26th, 2007 To: Chairman and Members of the Omaha Planning Board From: Steven N, Jensen, AICP, LA Planning Director Developer: DLR Group Tax Increment Financing Redevelopment Project Plan Project Headquarters Building Project @ Aksarben Village Aksarben Village Zone 3 Building 5 approximately © 65th & Frances Street. The approval of the project implementation redevelopment plan is required as a condition to facilitate the approval of Tax Increment Financing to be used as a potential funding source for the redevelopment and rehabilitation of this site for the construction of a new 30,000 square foot Corporate Headquarters facility to consolidate the locations of and enhance the operations of the DLR Group in a single location. This project was conditionally approved with the Aksarben Village Project Implementation Redevelopment Plan under Planning Board Case C3-07-029 and the supporting documentation covering the standard planning issues is not replicated in this proposal. The project implementation plan is consistent with and complies with the terms and conditions as covered in the approved plan. The plan provides all of the required information and is subject to change based on actual cost and final project design. The developer has applied for Tax Increment Financing(TIF) to be used to cover a portion of the cost related to public improvements for the development of the project site. The improvements were built in compliance with standards of the City of Omaha as established by the Planning and Public Works Departments. The project meets the requirement of and complies with Nebraska Community Development Law. The current street alignment serving the site is adequate for effective redevelopment and expansion. The approval of the redevelopment plan will authorize and facilitate TIF financing to cover TIF eligible cost of Public Improvements, site acquisition, development, demolition and infrastructure as required. This redevelopment compliments the approved elements and site development planned and approved by the Planning Board for the development of the Mixed Use Aksarben Village Project. Recommendation: The department recommends approval of the redevelopment plan Finance Director ublic Works Director PUBLICATION OF PUBLIC HEARING: April 3, 2008 and April 10, 2008 PUBLIC HEARING: April 22, 2008 PLNAMR1077—cover letter ouncil of the City of Omaha, in the Legislative Chambers, Omaha/Douglas Civic Center,1819 Farnam Street, Omaha,Nebraska. Buster Brown Subscribed in my presence and sworn to before me this day of City Clerk V/t ,2008. ALL REQUESTS FOR SIGN u LANGUAGE INTERPRETERS (SIGNERS)WILL REQUIRE A „�,,, -..w.. MINIMUM OF 48 HOURS ��r of ,, • ADVANCE NOTICE. IF ALTERNATIVE FORMATS MIRANDA KAY SMITH ARE NEEDED ALL REQUESTS WILL REQUIRE A MINIMUM General Notary OF 72 HOURS ADVANCE NOTICE. ti}ate Ot Nebratika BRRANGE NOTIFY ED My commIu on Explret Jan ie Z�l2 Notary Publi IF ARRANGEMENTS NEED t0 BE MADE Printer's Fee$ Affidavit Paid By County, VKAO, ,: Z-v, N,47.4:4•••Ot .C,',.... _ ,.1 ..A • i . • _____s 1 ...:,): g I.,.-- ,• .!..-:•..- -' ".. ,..... .:...Zd. ,AR"-,- ,,p, 4,...,..e.,..o•...41 .•`"4 .''. . . . 12th Si. i 12.1h Pt ,...: SVis-At •• . , -.,-'-..... .L','W 1 • i .e. , . _ft.,• ..!.,'!i,-,,... ,,,4.,,,., f tt .!,.7.1;3. -1,-. • • ,..-- ,, 1 , • v•.:. ,. 23_ •'Mt).•. • ':441Y,. '',',.-1 ..4".` 1 ' . J-•ive-ri,--,,p77,1' ,'".,',...,;;;;:.,.t '',",,V'4.,-:r ",!,,,,,',,,i,'-', t..,;...,f,_i • IkVt f gr:747:,, fiRiNE1:.0,43i.,41-A -i 7, ' ,',.'' ' ,tY. ' ',:.,;::,'''';" •••:721. 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V4 ' \ . . , •- ..,',,.;- .,..so ,, .K ,J...4';,-•4, --.+tr., :',4!.,;2!'.'"!!--4-" :' x-;,:--,i4.,,..z.,,-4;.:4 -,,,,, , i: . , 1 • 15)(/) -..t.P:..V.-!''.A.iY:,V;:;VAti .-.A„4,..v;!„, e!:,!, ,-.4•R*41:1,,94A.1/4 '44 - " - ''' ' ---- .:-.. -,,,,-.,e..-..4-t.,.,:::.!!!,,,i$,-,4.,,,,-;,,,;,*- .,..4:::-.r4,,•,•:.i!.t,,...::.:k :- •..,,t.,:v•-:-.•.--:... - • .•,,,t'....,,it.,„•,,.-.. ii.K.-- , : , io ik-i-;,.-:.,:i::!‘z-1 ,4,g,114.4hki.,!;:,:!' . '-''.1''M..,;',,,it•r.,..4- , :' „.4.,,,.-,. .,,,•,-,,,,..• : '* ii-i rt*=,,r',i,,,,.: .m;Akpt;,,,rz • ,r,.• ,,,,,,-,,,,,.'''.163,.',''L',',',','.'7?..;/.`:=T,i;• ::,-,i h. — 1 ...,/ . ...,-- -..• \,,:.___..—--....-....._ , • _ '_!.. . 4\ , •. -,, .,-• ', ,, .I I . ! 1 Ti•, • • ' . . .... Z N 9 m N U Q • • • DU", Grr p Bu lldhi' Project Aksarben \v/inage DLR Group, a full service architectural, engineering and interior design services firm was founded in 1966 with three employees in Omaha, Nebraska. Over the next forty one years, the Company has grown to nearly six hundred employees in fourteen cities across the United States. Currently, DLR Group is ranked the number one K-12 and Justice design firm in the United States according to several industry publications. DLR Group performs design services in four sectors: K-12, Justice, Corporate and Higher Ed/Sports. The Company has 113 personnel.in Omaha including 25 employees in the administrative and technology headquarters for all DLR Group locations. DLR Group is one hundred percent employee owned, having implemented an SESOP organization structure in the fall, of 2004. Our Vision: "Lead the nation as the outstanding client-focused design firm. We will be acclaimed for design excellence, client oriented services and employee ownership." Our Mission: "Provide unequaled professional design services, consistent quality, creative designs and functional solutions that exceed expectations; ensure success through professional growth and spirit of integrity and teamwork." Our Values: "Commitment Trust, honesty and integrity, Creative ideas and persistent effort. Lastly, our Branding Statement: "listen.DESIGN9.deliver". . DLR Group has been conducting an analysis for well over a year of upgrading its current facilities or building a new building in the Omaha area. At the present time, DLR Group • is entering into a memorandum of understanding with Noddle Companies, the Developer of Zone 3, Aksarben Village, for the procurement of land on Lot four, and labeled as "Building 5". DLR Group plans to build a two story 30,000 square foot building to house its Nebraska design operations and administrative and IT headquarters for the rest of the Company. All Omaha Nebraska based employees would relocate to the Aksarben site. DLR Group will be the only tenant in the building. on: The department recommends approval of the redevelopment plan Finance Director ublic Works Director PUBLICATION OF PUBLIC HEARING: April 3, 2008 and April 10, 2008 PUBLIC HEARING: April 22, 2008 PLNAMR1077—cover letter ouncil of the City of Omaha, in the Legislative Chambers, Omaha/Douglas Civic Center,1819 Farnam Street, Omaha,Nebraska. Buster Brown Subscribed in my presence and sworn to before me this day of City Clerk V/t ,2008. ALL REQUESTS FOR SIGN u LANGUAGE INTERPRETERS (SIGNERS)WILL REQUIRE A „�,,, -..w.. MINIMUM OF 48 HOURS ��r of ,, • ADVANCE NOTICE. IF ALTERNATIVE FORMATS MIRANDA KAY SMITH ARE NEEDED ALL REQUESTS WILL REQUIRE A MINIMUM General Notary OF 72 HOURS ADVANCE NOTICE. ti}ate Ot Nebratika BRRANGE NOTIFY ED My commIu on Explret Jan ie Z�l2 Notary Publi IF ARRANGEMENTS NEED t0 BE MADE Printer's Fee$ Affidavit Paid By County, VKAO, ,: Z-v, N,47.4:4•••Ot .C,',.... _ ,.1 ..A • i . • _____s 1 ...:,): g I.,.-- ,• .!..-:•..- -' ".. ,..... .:...Zd. ,AR"-,- ,,p, 4,...,..e.,..o•...41 .•`"4 .''. . . . 12th Si. i 12.1h Pt ,...: SVis-At •• . , -.,-'-..... .L','W 1 • i .e. , . _ft.,• ..!.,'!i,-,,... ,,,4.,,,., f tt .!,.7.1;3. -1,-. • • ,..-- ,, 1 , • v•.:. ,. 23_ •'Mt).•. • ':441Y,. '',',.-1 ..4".` 1 ' . J-•ive-ri,--,,p77,1' ,'".,',...,;;;;:.,.t '',",,V'4.,-:r ",!,,,,,',,,i,'-', t..,;...,f,_i • IkVt f gr:747:,, fiRiNE1:.0,43i.,41-A -i 7, ' ,',.'' ' ,tY. ' ',:.,;::,'''';" •••:721. 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Z N 9 m N U Q 1 EXECUTIVE SUMMARY TAX INCREMENT FINANCING REQUEST— DLR GROUP HEADQUARTERS -AKSARBEN VILLAGE— ZONE 3 — BUILDING 5 Project Description: The proposed DLR Group project is to construct an office building for DLR Group (Zone 3 — Building 5) to be located within the currently platted Lots 4 and 5 of Aksarben Village, part of the Aksarben Mixed Use Business and Education Campus. The building is proposed to be a two-story office building approximately 30,000 gross square feet with a building footprint of approximately 16,000 square feet. A to-be-formed entity will . acquire the real estate and contruct the building and other improvements. Organizational documents will be provided upon completion. The building will be the corporate headquarters of DLR Group, which will be the single tenant of the building. A preliminary site plan of the property with the proposed building, parking area, public parking garage and other features is attached hereto as Exhibit "A" and incorporated herein by this reference. Construction and permanent financing will be done by Great Western Bank. Estimated building costs, land, parking, parking garage, tenant improvements, design fees etc. total $8,335,070 or $277.84 per gross square foot. Construction is anticipated to begin in April of 2008 and completion by August of 2009 with occupancy set for September 2009. Cost Pro Forma/Budget: A Project Cost Pro Forma and Project Budget are respectively attached hereto as Exhibits "B" and "C" and incorporated herein by this reference. The total project costs are estimated to be $8,335,070. TIF eligible expenses are estimated to be approximately $1,500,000. Special Considerations: Typical foundation support for a lightly loaded two-story building is accomplished with shallow spread footing systems bearing on structural fill soils. Soil conditions on this site however make the use of spread footing systems difficult. A deeper underlying layer of soil (alluvial clays) at this site (approximately 50 feet below grade) are generally weak soils that are expected to experience significant compression under the weight of the new soil fill and building loads, which will cause settlement of the proposed building. To minimize the potential for building settlement there are three different approaches that can be taken for the foundation system for the building. 1819 Farnam Street, Omaha,Nebraska. Buster Brown Subscribed in my presence and sworn to before me this day of City Clerk V/t ,2008. ALL REQUESTS FOR SIGN u LANGUAGE INTERPRETERS (SIGNERS)WILL REQUIRE A „�,,, -..w.. MINIMUM OF 48 HOURS ��r of ,, • ADVANCE NOTICE. IF ALTERNATIVE FORMATS MIRANDA KAY SMITH ARE NEEDED ALL REQUESTS WILL REQUIRE A MINIMUM General Notary OF 72 HOURS ADVANCE NOTICE. ti}ate Ot Nebratika BRRANGE NOTIFY ED My commIu on Explret Jan ie Z�l2 Notary Publi IF ARRANGEMENTS NEED t0 BE MADE Printer's Fee$ Affidavit Paid By County, VKAO, ,: Z-v, N,47.4:4•••Ot .C,',.... _ ,.1 ..A • i . • _____s 1 ...:,): g I.,.-- ,• .!..-:•..- -' ".. ,..... .:...Zd. ,AR"-,- ,,p, 4,...,..e.,..o•...41 .•`"4 .''. . . . 12th Si. i 12.1h Pt ,...: SVis-At •• . , -.,-'-..... .L','W 1 • i .e. , . _ft.,• ..!.,'!i,-,,... ,,,4.,,,., f tt .!,.7.1;3. -1,-. • • ,..-- ,, 1 , • v•.:. ,. 23_ •'Mt).•. • ':441Y,. '',',.-1 ..4".` 1 ' . J-•ive-ri,--,,p77,1' ,'".,',...,;;;;:.,.t '',",,V'4.,-:r ",!,,,,,',,,i,'-', t..,;...,f,_i • IkVt f gr:747:,, fiRiNE1:.0,43i.,41-A -i 7, ' ,',.'' ' ,tY. ' ',:.,;::,'''';" •••:721. 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Constructing a temporary surcharge (pre-loading the site with soil fill above finish floor elevation prior to building construction) to pre-load the building site, and cause the settlement of the underlying soils to occur prior to the building construction, hence reducing long-term post-construction settlement. The implementation of a temporary surcharge would allow the building to be constructed on shallow spread footings. The temporary surcharge, to provide 2,000 pounds per square foot bearing capacity for the footings, would have to be approximately 15 feet high and would need to extend 10 feet beyond the building's perimeter. The surcharge side slopes would have to slope at a 1.5 • horizontal to 1 vertical. 2. Utilizing deep foundations (augered cast-in-place concrete piles) for support of the building. The deep foundations provide support for the building primarily by skin friction between the pile surface and the surrounding soil, with some minor contribution from end bearing. The deep foundations would have to penetrate into the underlying medium dense to dense alluvial sands and sandy soils, ranging from 60 to 80 feet below th.e bottom of the pile caps for the building. (approximately 64 to 84 feet below the building's finish floor elevation). 3. Providing soil improvement by utilizing a Geopier® rammed aggregate pier foundation system. The Geopiers® would extend approximately 15.feet below grade and are installed to improve the upper-lying soils. This improved layer of soils provides an allowable soil bearing pressure of 5,000 pounds per square foot for the proposed building, and helps to minimize the contributing loads to the underlying weak soils, reducing potential settlements. Of the options listed above, only options 2 and 3 are options that are feasible at this time. Since the drive-lanes and various utilities are already in place within Frances Street, the implementation of a 15 foot high surcharge to the necessary limits would cause settlement to the pavement and utilities already in place. DLR is currently evaluating the two available options to find the best and most cost —effective solution for providing foundation support for the building. Part of the proposed plan is to construct a ground-coupled heat exchanger (geothermal well-field) to provide heating and cooling for the building. The intent of the well-field design is to use the deepest wells possible to minimize the number of wells required, hence limiting the impact the well-field has on the site. The primary location for the well-field is east of the proposed building within the limits of the eastern parking area. It is estimated that 21 wells will fit (at a 20' spacing) beneath the parking area. A total maximum of an additional 68 wells may be required to be constructed within Lot 8, both east of the Lot 5 parking area, and beneath the driveway south of the planned office building. E NOTIFY ED My commIu on Explret Jan ie Z�l2 Notary Publi IF ARRANGEMENTS NEED t0 BE MADE Printer's Fee$ Affidavit Paid By County, VKAO, ,: Z-v, N,47.4:4•••Ot .C,',.... _ ,.1 ..A • i . • _____s 1 ...:,): g I.,.-- ,• .!..-:•..- -' ".. ,..... .:...Zd. ,AR"-,- ,,p, 4,...,..e.,..o•...41 .•`"4 .''. . . . 12th Si. i 12.1h Pt ,...: SVis-At •• . , -.,-'-..... .L','W 1 • i .e. , . _ft.,• ..!.,'!i,-,,... ,,,4.,,,., f tt .!,.7.1;3. -1,-. • • ,..-- ,, 1 , • v•.:. ,. 23_ •'Mt).•. • ':441Y,. '',',.-1 ..4".` 1 ' . J-•ive-ri,--,,p77,1' ,'".,',...,;;;;:.,.t '',",,V'4.,-:r ",!,,,,,',,,i,'-', t..,;...,f,_i • IkVt f gr:747:,, fiRiNE1:.0,43i.,41-A -i 7, ' ,',.'' ' ,tY. ' ',:.,;::,'''';" •••:721. 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I - : I I ' , I: 1 ( I I II I I r $ I I .,i_ 1 - 1 - ----^-�`s — , 1I. li!• /I r:,. j I N' I I i I ( ' I, , . } II , ' i1 —ter I 1 11 L :It:: :IT i i 6dTFi"STREET _— I I i w \ • :II.... ..4 'I t i I. i i I ,i 1 111 , m I ' I IEiI '--.-; , It 1 1;Ii • ,:I , • 1. ;• ,;11 C1.0 ZONE 3-OVERALL SITE LAYOUT PLAN ' IIDLRGroup -"- AKSARBEN VILLAGE ZONE 3-SITE WORK L . - J maximum of an additional 68 wells may be required to be constructed within Lot 8, both east of the Lot 5 parking area, and beneath the driveway south of the planned office building. E NOTIFY ED My commIu on Explret Jan ie Z�l2 Notary Publi IF ARRANGEMENTS NEED t0 BE MADE Printer's Fee$ Affidavit Paid By County, VKAO, ,: Z-v, N,47.4:4•••Ot .C,',.... _ ,.1 ..A • i . • _____s 1 ...:,): g I.,.-- ,• .!..-:•..- -' ".. ,..... .:...Zd. ,AR"-,- ,,p, 4,...,..e.,..o•...41 .•`"4 .''. . . . 12th Si. i 12.1h Pt ,...: SVis-At •• . , -.,-'-..... .L','W 1 • i .e. , . _ft.,• ..!.,'!i,-,,... ,,,4.,,,., f tt .!,.7.1;3. -1,-. • • ,..-- ,, 1 , • v•.:. ,. 23_ •'Mt).•. • ':441Y,. '',',.-1 ..4".` 1 ' . J-•ive-ri,--,,p77,1' ,'".,',...,;;;;:.,.t '',",,V'4.,-:r ",!,,,,,',,,i,'-', t..,;...,f,_i • IkVt f gr:747:,, fiRiNE1:.0,43i.,41-A -i 7, ' ,',.'' ' ,tY. ' ',:.,;::,'''';" •••:721. ' 'I I;t 'A'4.:, • 1 , , ":".1 1 i te'4.,. .(,.,•.;:',4,44.4 .1. .1A.', 1.• ::'•;U;0•:--•14.4;•-; :i'')%,.•M '•4•&-:; :,,tt.,,,.,,,, . ,,,,,,i.., ,., ..i , iti.!_,I•,:-„,0,,,--A-•,....t,,,W,,k,,. ..t511 ,-,J' .-W.•,,.:,• ,. • .:"•''6' . T-1;•X.•• • . ' •-.. r ? t t . 1.4.'"4, ',4.1-4-t,t4.4a1.•..q-'4 -,.,•-•.. • .•-}?e,:::!. -`• i-,,,,: :...'. :. -",-,.: I • 'i- i• . . tial0'.;-414.7,,i!..4s2,40-!.. !-•.;,!-I .- L r- 4,:,• ,', . .' V,,,,1:41i,:'- '-',I•p4,,4:-.44,1,1'.7, 44 •• . :;(.4V-42.k.;:„.:!...*kvp'SO I 1•- ' ',, 4'----.'"' ..'t'--: ..,' 1 3 :•,!:7A . i,,, /,•?.:, : • -1--e,"•,:,!',,-,0.F.1.-.Lig.,i'-'-'4 •,'A.,',•,. r,•- •..--,0?-0,,Aus•-p,•!ZZ,,,,..f,:"4.Y...ickg,1 , •.'1 :i:Z.,W244-4; .•'P.'..,..• . r,. t-•:s. .1,.'4i,. 1 i • •.. ,,,,..-.,.. 14 ./' • . te..1'.. V4 ' \ . . , •- ..,',,.;- .,..so ,, .K ,J...4';,-•4, --.+tr., :',4!.,;2!'.'"!!--4-" :' x-;,:--,i4.,,..z.,,-4;.:4 -,,,,, , i: . , 1 • 15)(/) -..t.P:..V.-!''.A.iY:,V;:;VAti .-.A„4,..v;!„, e!:,!, ,-.4•R*41:1,,94A.1/4 '44 - " - ''' ' ---- .:-.. -,,,,-.,e..-..4-t.,.,:::.!!!,,,i$,-,4.,,,,-;,,,;,*- .,..4:::-.r4,,•,•:.i!.t,,...::.:k :- •..,,t.,:v•-:-.•.--:... - • .•,,,t'....,,it.,„•,,.-.. ii.K.-- , : , io ik-i-;,.-:.,:i::!‘z-1 ,4,g,114.4hki.,!;:,:!' . '-''.1''M..,;',,,it•r.,..4- , :' „.4.,,,.-,. .,,,•,-,,,,..• : '* ii-i rt*=,,r',i,,,,.: .m;Akpt;,,,rz • ,r,.• ,,,,,,-,,,,,.'''.163,.',''L',',',','.'7?..;/.`:=T,i;• ::,-,i h. — 1 ...,/ . ...,-- -..• \,,:.___..—--....-....._ , • _ '_!.. . 4\ , •. -,, .,-• ', ,, .I I . ! 1 Ti•, • • ' . . .... Z N 9 m N U Q • EXHIBIT "B" Aksarben Village DLR Building Required User'Entered Data=.Field;.,.` Costs Excluding FFE by DLR $8,335,070 Rent Increases 1%per Year DLR FFE Costs $a 2 U0, Cash Return of 2%Per Year Per Square Foot Cost w/o FFE , ?. NNN increases 2.5%per Year Per Square Foot Cost with FFE $295 Building Value Increase 1%Per Year Debt Ratio >: ';+':1?,',, Depreciation Assumes No Cost Segreagation For Faster Write-offs Equity Ratio s5"` iFzi^T-t`V _, Professional Fees Are For Accountants,K-1's,Tax Returns Debt 80% M1 56,668,056 Equity 20% $1,667,014 Cost Cost Per Foot Land(Estimated) Y41l Construction and Land Cost $8,065,893 $268.86 Asset Value Less Land $7,485,070 • Design Fee 5% $269,177 $8.97 Depreciable Life 39 Professional Fees/Year ', r ',._: u 2 ill t,,; • Per Unit Investor Amount 'T ;ge_0a Investor Units 33.3 Total Construction Cost $8,335,070 $277.84 Building Footage(Approx Gross) sr LLC Rent Income Rate ..at4� . Interest Rate `Y '" Amortization(Years) NNN Costs Per Foot ,.. ,-... . Cash on Cash Return% 2.00% 2.00% 2.00% 2.00% 2.00% Year 1 Year 2 Year 3 Year 4 Year 5 Income: . Rent $510,000 $515,100 $520,251 $525,454 _$530,708 Interest Income 2,000 2,000 2,000 2,000 2,000 Total Income 512,000 517,100 522,251 527,454 532,708 Expenses: • Depreciation • (191,925) (191,925) (191,925) (191,925) (191,925) I Interest (447,922) (442,974) (437,681) (432,020) (425,965) Professional Fees (5,000) (5,150) (5,305) (5,464) (5,628)• Total Expenses (644,847) (640,049) (634,911) (629,409) (623,517) Projected Income • ($132,847) ($122,949) ($112,660) ($101,955) ($90,809) - Depreciation 191,925 191,925 • 191,925 191,925 191,925 Note Reduction (71,065) (76,013) (81,305) (86,967) (85,029) Projected Cash Flow ($11,987) ($7,037) • ($2,040) • $3,003 $16,087 Cash Retained Each Year(If Negative, Rent Rate Needs To Be Adjusted) ($45,327) ($40,377) ($35,380) ($30,337) ($17,253); Cumulative Cash Retained ($45,327) ($85,704) ($121,084) ($151,421) ($168,674) Distribution Available $33,340 $33,340 $33,340 $33,340 $33,340 Distribution Per Unit $1,000 $1,000 $1,000 $1,000 $1,000 Cumulative Distribution Amounts $1,000 $2,000 $3,000 $4,000 $5,000 Annual Cash Rate of Return 2.00% 2.00% 2.00% 2.00% 2.00% Projected Property Value 8,418,421 8,502,605 8,587,631 8,673,507 8,760,242 • Less Mortgage Balance 6,596,991 6,520,978 6,439,673 6,352,707 6,267,678 Net Property Value 1,821,429 1,981,626 2,147,958 2,320,801 2,492,564 • I Per Unit Property Value $54,631 $59,436 $64,425 $69,610 , $74,761 Annual Increase $4,631 $9,436 . $14,425 $19,610 $24,761 Total Rate of Return 11% 21% 31% 41% 52% Monthly Rent Expense: $42,500 S42,925 $43,354 • • $43,788• •• $44,226 NNN Expenses $22,500 $23,063 $23,639 $24,230 $24,836 . Total Monthly Rent Exp $65,000 $65,988 $66,993 $68,018 $69,061 , Base Rent Cost Per Foot $17.00 $17.17 $17.34 $17.52 $17.69 Total Rent Cost Per Foot $26.00 $26.40 $26.80 $27.21 $27.62 • Annualized Cost $780,000 $791,850 $803,920 $816,214 $828,738 ' ,'".,',...,;;;;:.,.t '',",,V'4.,-:r ",!,,,,,',,,i,'-', t..,;...,f,_i • IkVt f gr:747:,, fiRiNE1:.0,43i.,41-A -i 7, ' ,',.'' ' ,tY. ' ',:.,;::,'''';" •••:721. ' 'I I;t 'A'4.:, • 1 , , ":".1 1 i te'4.,. .(,.,•.;:',4,44.4 .1. .1A.', 1.• ::'•;U;0•:--•14.4;•-; :i'')%,.•M '•4•&-:; :,,tt.,,,.,,,, . ,,,,,,i.., ,., ..i , iti.!_,I•,:-„,0,,,--A-•,....t,,,W,,k,,. ..t511 ,-,J' .-W.•,,.:,• ,. • .:"•''6' . T-1;•X.•• • . ' •-.. r ? t t . 1.4.'"4, ',4.1-4-t,t4.4a1.•..q-'4 -,.,•-•.. • .•-}?e,:::!. -`• i-,,,,: :...'. :. -",-,.: I • 'i- i• . . tial0'.;-414.7,,i!..4s2,40-!.. !-•.;,!-I .- L r- 4,:,• ,', . .' 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Z N 9 m N U Q EXHIBIT u°C'c • DLRaksarben Office Building Project Budget 11/2/2007 # work unit • unit$ cost notes 01 General Conditions 1 LS 320,000.00 $320,000 02 Bonds 0 LS 0.00 • $0 03 Sitework 1 LS 3,000.00 $3,000 included in Land Cost 04 Landscaping 0 0.00 $0 05 a Foundations: Footings 17,700 sf 3.83 $67,791 05 b Foundations:Grade Beams 17,700 sf 1.47 $26,019 05 c Foundations: Slab 17,700 sf 6.19 $109,563 1 05 d Foundations: Steel 30,000 sf 0.85 $25,500 05 e Foundations: Mesh 38,252 sf 0.12 $4,590 05 f Foundations: Sealants 2 LS 5,900.00 $11,800 06 a Superstructure: Steel 26,173 sf 20.56 $538,117 end FL=3"conc on 3°metal deck 06 b Superstructure: COMD 8,476 sf 2.36 $20,003 07 Roofing 15,000 sf 5.17 $77,550 45 mil TPO 08 a Exterior: Masonry 7,224 sf 25.96 $187,535 08 b Exterior: Curtainwall 8,800 sf 82.59 $726,792 EFCO 4os 08 c Exterior: Metal Panels 7,500 sf 41.29 $309,675 1 08 d Exterior: Kalwall 2,000 sf 60.00 $120,000. 1 08 e Exterior: Soffits 2,500 sf 11.80 $29,500 EFIS w/Metal border 08 f Exterior: Sun Screens 2,150 sf 41.29 $88,774 09 Insulation 0 0.00 $0 Roof=6"ridgid 10 Doors Frames Hardware 0 0.00 $0 wood solid core w/HM frames 11 a Interior: Construction 26,200 sf 35.40 $927,480 11 b Interior: Dry Wall 0 0.00 $0 dry wall on metal studs 11 c interior: Acoustical Ceilings 0 0.00 $0 11 d Interior: Floorcoverings 0 0.00 $0 11 e Interior: Painting 0 0.00 $0 11 f Interior: Millwork 0 0.00 $0 11 g Other TI 35.00 $1,050,000 12 Fire Protection 30,000 sf 1.18 $35,400 13 Plumbing 0 0.00 $0 14 Mechanical 30,000 sf 15.34 $460,200 15 Electrical 30,000 sf 5.90 $177,000 16 Elevators 1 EA 67,250.00 $67,250 Hydraulic HC 2stop 17 FF&E 1 LS 0.00 $0 Total Building Cost 30,000 sf 179.45 $5,383,539 18 a Contingency 10% 30,000 sf 17.95 $538,354 18 b Land 30,000 sf 29.83 $850,000 18 c Parking 1 LS 895,000.00 $895,000 18 d Utilities 1 LS 100,000.00 $100,000 18 e Design Fees 1 LS 0.05 $269,177 18 g Parking, Utilities, Testing 1 LS 49,000.00 $49,000 18 h Soil Surcharging/stabilization 1 LS 150,000.00 $150,000 18 f Noddle TIF Reimbursment 1 LS 100,000.00 $100,000 Other Cost $2,951,531 Total.Project Cost 30,000 sf 277.84 $8,335,070 760,242 • Less Mortgage Balance 6,596,991 6,520,978 6,439,673 6,352,707 6,267,678 Net Property Value 1,821,429 1,981,626 2,147,958 2,320,801 2,492,564 • I Per Unit Property Value $54,631 $59,436 $64,425 $69,610 , $74,761 Annual Increase $4,631 $9,436 . $14,425 $19,610 $24,761 Total Rate of Return 11% 21% 31% 41% 52% Monthly Rent Expense: $42,500 S42,925 $43,354 • • $43,788• •• $44,226 NNN Expenses $22,500 $23,063 $23,639 $24,230 $24,836 . Total Monthly Rent Exp $65,000 $65,988 $66,993 $68,018 $69,061 , Base Rent Cost Per Foot $17.00 $17.17 $17.34 $17.52 $17.69 Total Rent Cost Per Foot $26.00 $26.40 $26.80 $27.21 $27.62 • Annualized Cost $780,000 $791,850 $803,920 $816,214 $828,738 ' ,'".,',...,;;;;:.,.t '',",,V'4.,-:r ",!,,,,,',,,i,'-', t..,;...,f,_i • IkVt f gr:747:,, fiRiNE1:.0,43i.,41-A -i 7, ' ,',.'' ' ,tY. ' ',:.,;::,'''';" •••:721. ' 'I I;t 'A'4.:, • 1 , , ":".1 1 i te'4.,. .(,.,•.;:',4,44.4 .1. .1A.', 1.• ::'•;U;0•:--•14.4;•-; :i'')%,.•M '•4•&-:; :,,tt.,,,.,,,, . ,,,,,,i.., ,., ..i , iti.!_,I•,:-„,0,,,--A-•,....t,,,W,,k,,. ..t511 ,-,J' .-W.•,,.:,• ,. • .:"•''6' . T-1;•X.•• • . ' •-.. r ? t t . 1.4.'"4, ',4.1-4-t,t4.4a1.•..q-'4 -,.,•-•.. • .•-}?e,:::!. -`• i-,,,,: :...'. :. -",-,.: I • 'i- i• . . tial0'.;-414.7,,i!..4s2,40-!.. !-•.;,!-I .- L r- 4,:,• ,', . .' V,,,,1:41i,:'- '-',I•p4,,4:-.44,1,1'.7, 44 •• . :;(.4V-42.k.;:„.:!...*kvp'SO I 1•- ' ',, 4'----.'"' ..'t'--: ..,' 1 3 :•,!:7A . i,,, /,•?.:, : • -1--e,"•,:,!',,-,0.F.1.-.Lig.,i'-'-'4 •,'A.,',•,. r,•- •..--,0?-0,,Aus•-p,•!ZZ,,,,..f,:"4.Y...ickg,1 , •.'1 :i:Z.,W244-4; .•'P.'..,..• . r,. t-•:s. .1,.'4i,. 1 i • •.. ,,,,..-.,.. 14 ./' • . te..1'.. V4 ' \ . . , •- ..,',,.;- .,..so ,, .K ,J...4';,-•4, --.+tr., :',4!.,;2!'.'"!!--4-" :' x-;,:--,i4.,,..z.,,-4;.:4 -,,,,, , i: . , 1 • 15)(/) -..t.P:..V.-!''.A.iY:,V;:;VAti .-.A„4,..v;!„, e!:,!, ,-.4•R*41:1,,94A.1/4 '44 - " - ''' ' ---- .:-.. -,,,,-.,e..-..4-t.,.,:::.!!!,,,i$,-,4.,,,,-;,,,;,*- .,..4:::-.r4,,•,•:.i!.t,,...::.:k :- •..,,t.,:v•-:-.•.--:... - • .•,,,t'....,,it.,„•,,.-.. ii.K.-- , : , io ik-i-;,.-:.,:i::!‘z-1 ,4,g,114.4hki.,!;:,:!' . '-''.1''M..,;',,,it•r.,..4- , :' „.4.,,,.-,. .,,,•,-,,,,..• : '* ii-i rt*=,,r',i,,,,.: .m;Akpt;,,,rz • ,r,.• ,,,,,,-,,,,,.'''.163,.',''L',',',','.'7?..;/.`:=T,i;• ::,-,i h. — 1 ...,/ . ...,-- -..• \,,:.___..—--....-....._ , • _ '_!.. . 4\ , •. -,, .,-• ', ,, .I I . ! 1 Ti•, • • ' . . .... Z N 9 m N U Q DEVELOPMENT FINANCING PLAN SUMMARY Sources of Funds: Construction Loan $5,668,056 Investor Equity $1,667,014 Tax Increment Financing $1,000,000 Total Sources of Funds $8,335,070 Uses of Funds: Purchase of Land $850,000 Building Cost $5,383,539 Parking, Utilities, Soil Surcharge $1,194,000 Project Soft Costs $907,531 Total Uses of Funds $8,335,070 Without TIF funds, the project will not be completed in a cost effective manner and will not provide a return on equity that is balanced with the risks taken by equity investors. Without TIF funds, there is negative cash flow of averaging $33,735 in each of the first five years with a 2% cash on cash return to investors, which is not sufficient to support the project as compared to a prudent investor analysis of other comparable investment opportunities available in the Omaha marketplace which would provide cash flow return along with equity growth in the investment. With TIF, cash returns to investors will reach five percent each year and provide the equity growth making the project attractive as an investment when compared to other similar real estate investment opportunities in the geographic area. xterior: Kalwall 2,000 sf 60.00 $120,000. 1 08 e Exterior: Soffits 2,500 sf 11.80 $29,500 EFIS w/Metal border 08 f Exterior: Sun Screens 2,150 sf 41.29 $88,774 09 Insulation 0 0.00 $0 Roof=6"ridgid 10 Doors Frames Hardware 0 0.00 $0 wood solid core w/HM frames 11 a Interior: Construction 26,200 sf 35.40 $927,480 11 b Interior: Dry Wall 0 0.00 $0 dry wall on metal studs 11 c interior: Acoustical Ceilings 0 0.00 $0 11 d Interior: Floorcoverings 0 0.00 $0 11 e Interior: Painting 0 0.00 $0 11 f Interior: Millwork 0 0.00 $0 11 g Other TI 35.00 $1,050,000 12 Fire Protection 30,000 sf 1.18 $35,400 13 Plumbing 0 0.00 $0 14 Mechanical 30,000 sf 15.34 $460,200 15 Electrical 30,000 sf 5.90 $177,000 16 Elevators 1 EA 67,250.00 $67,250 Hydraulic HC 2stop 17 FF&E 1 LS 0.00 $0 Total Building Cost 30,000 sf 179.45 $5,383,539 18 a Contingency 10% 30,000 sf 17.95 $538,354 18 b Land 30,000 sf 29.83 $850,000 18 c Parking 1 LS 895,000.00 $895,000 18 d Utilities 1 LS 100,000.00 $100,000 18 e Design Fees 1 LS 0.05 $269,177 18 g Parking, Utilities, Testing 1 LS 49,000.00 $49,000 18 h Soil Surcharging/stabilization 1 LS 150,000.00 $150,000 18 f Noddle TIF Reimbursment 1 LS 100,000.00 $100,000 Other Cost $2,951,531 Total.Project Cost 30,000 sf 277.84 $8,335,070 760,242 • Less Mortgage Balance 6,596,991 6,520,978 6,439,673 6,352,707 6,267,678 Net Property Value 1,821,429 1,981,626 2,147,958 2,320,801 2,492,564 • I Per Unit Property Value $54,631 $59,436 $64,425 $69,610 , $74,761 Annual Increase $4,631 $9,436 . $14,425 $19,610 $24,761 Total Rate of Return 11% 21% 31% 41% 52% Monthly Rent Expense: $42,500 S42,925 $43,354 • • $43,788• •• $44,226 NNN Expenses $22,500 $23,063 $23,639 $24,230 $24,836 . Total Monthly Rent Exp $65,000 $65,988 $66,993 $68,018 $69,061 , Base Rent Cost Per Foot $17.00 $17.17 $17.34 $17.52 $17.69 Total Rent Cost Per Foot $26.00 $26.40 $26.80 $27.21 $27.62 • Annualized Cost $780,000 $791,850 $803,920 $816,214 $828,738 ' ,'".,',...,;;;;:.,.t '',",,V'4.,-:r ",!,,,,,',,,i,'-', t..,;...,f,_i • IkVt f gr:747:,, fiRiNE1:.0,43i.,41-A -i 7, ' ,',.'' ' ,tY. ' ',:.,;::,'''';" •••:721. ' 'I I;t 'A'4.:, • 1 , , ":".1 1 i te'4.,. .(,.,•.;:',4,44.4 .1. .1A.', 1.• ::'•;U;0•:--•14.4;•-; :i'')%,.•M '•4•&-:; :,,tt.,,,.,,,, . ,,,,,,i.., ,., ..i , iti.!_,I•,:-„,0,,,--A-•,....t,,,W,,k,,. ..t511 ,-,J' .-W.•,,.:,• ,. • .:"•''6' . T-1;•X.•• • . ' •-.. r ? t t . 1.4.'"4, ',4.1-4-t,t4.4a1.•..q-'4 -,.,•-•.. • .•-}?e,:::!. -`• i-,,,,: :...'. :. -",-,.: I • 'i- i• . . tial0'.;-414.7,,i!..4s2,40-!.. !-•.;,!-I .- L r- 4,:,• ,', . .' 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'-''.1''M..,;',,,it•r.,..4- , :' „.4.,,,.-,. .,,,•,-,,,,..• : '* ii-i rt*=,,r',i,,,,.: .m;Akpt;,,,rz • ,r,.• ,,,,,,-,,,,,.'''.163,.',''L',',',','.'7?..;/.`:=T,i;• ::,-,i h. — 1 ...,/ . ...,-- -..• \,,:.___..—--....-....._ , • _ '_!.. . 4\ , •. -,, .,-• ', ,, .I I . ! 1 Ti•, • • ' . . .... Z N 9 m N U Q • TIF BREAKOUT SUMMARY Noddle TIF Reimbursement $ 100,000 Soil Surcharging/Stabilization 150,000 Design Fees 269,177 Parking, Utilities, Testing 49,000 Parking Garage 895,000 Utilities 100,000 Site Work 3,000 Foundation 245,263 Total $1,811,440 1819 Farnam Street Omaha, Nebraska 68183 Omaha, Nebraska 68183 \ ,--- ',71.. ,a. ...Cf4 po. ›. .-1- Lila O C O' P i!. N AD y A.. a CD po CD O .. �C .. 1—• cn oo 0 ,-). to 402-341-6000 15 • DIN 1 4 I 1 150 YEARS of COMMITMENT to CUSTOMERS. Aksarben•Vlilage DLR Building With TIF 844111 dielitinEr rDablifleldf a Costs•Exciuding-FF 'by DER $7;335-6770 'Rent increases 116 per Year DLR FFE Costs . -°°° Cash Retum of 2%Per Year Per Square Foot Cost w/o FFE r r,� NNN Increases.25%per Year Per Square Foot Costwith FFE $261 Building Value Increase 1%Per Year Debt Ratio fgtMRW Depreciation Assumes No Cost:Segreegatlon For Faster Write-offs EquityRatio -rk, ,l •Professional•Fees Are•For Accountants,•141-s,Tax-Returns Debt 80% $5,868,058 EquIty20% $1,487,014 Cost Cost Per Foot Land(Estimated) .,sr� ° °°° Construction and Land Cost $8,085,893 $288.88 ,�_�,1.. ..�, Asset Value Less Land $6,485,070 Design Fee 5% $269,177 $8.97 Depreciable Life 39 Less TIF Loan $1,000,000 Professional Fees/Year $$5, Per Unit Investor Amount �' T 0.00' Investor Units 29.3 Total Construction Cost 57,335,070 $277.84 Building Footage(Approx Gross) 7• `30;°00 LLC Rent income Rate ilk ° Interest Rate t... Amortization•(Years) r , 1 NNN Costs Per Foot ': }A$900. Cash on Cash Return% 5.00% 5.00% 5.00% 5.00% 5.0096 Year 4 Year2 Year3 Year4 Year•6 income: Rent $525,000 $530,250 $535,553 $540,908 $546,317 Interest income 2,000 2,000 2,000 2,000 2,000 Totellncome •527.000 532,250 -537,553 '542,908 '548,317 Expenses: Depreciation (166,284) (166,284) (166,284) (168,284) (166,284) Interest (394,183) (389,828) (385,170) (380,188) (374,860) Professional Fees (5,000) (5,150) (5,305) (5,484) (5,628) Total Expenses (565,488) (581,262) (556,759) (551,936) (548,771) Projected income ($38,468) ($29,012) (519,208) ($9,028) $1,546 Depreciation 166,284 168,284 166,284 186,284 186,284 Note Reduction (62,539) (86,893) (71,551) (78,533) (74,827) Projected Cash Flow $65,279 $70,379 $75,527 $80,723 $93,003 Cash Retained Each Year(If Negative, Rent Rate Needs To Be Adjusted) $0 $0 $2,176 $7,372 $19,652 Cumulative Cash Retained $0 $0 $2,176 $9,549 $29,200 Distribution Available $65,279 $70,379 $73,351 $73,351 $73,351 Distribution Per Unit $2,225 $2,399 $2,500 $2,500 $2,500 Cumulative Distribution Amounts $2,225 $4,824 $7,124 $9,624 $12,124 Annual Cash Rate of Return 4.45% 4.80% 5.00% 5.00% 5.00% Projected Property Value 7,408,421 7,482,505 7,557,330 7,632,903 7,709,232 Less Mortgage Balance 5,805,517 5,738,624 5167 6 ,073 5,590,541 5,515,713 Net•PropeityValue 1;802;903 1,743;881 1,890;257 •2;042,363 •2;193,519 Per Unit Property Value $54,631 $59,436 $64,425 $69,610 $74,761 Annual Increase $4,631 $9,438 $14,425 $19,810 524,761 Total Rate of Return 14% 24% 34% 44% 55% Monthly Rent Expense: $43,750 $44,188 $44,629 $45,076 $45,528 NNN Expenses $22,600 $23,083 523,639 $24,230 $24,838 Total Monthly Rent Exp . $86,250 $87,250. $88,266 $89,306 570,362 Base Rent Cost Per Foot $17.50 .:517.88 :$17.85 .. :$18.03 '$1821 Total.Rent.Cost Per Foot. :$26,50 $26.90 $27,31 $27.72 421114 Annualized Cost $795,000 $807.000 $819.221.. $831,888 $844,347 $17.69 Total Rent Cost Per Foot $26.00 $26.40 $26.80 $27.21 $27.62 • Annualized Cost $780,000 $791,850 $803,920 $816,214 $828,738 ' ,'".,',...,;;;;:.,.t '',",,V'4.,-:r ",!,,,,,',,,i,'-', t..,;...,f,_i • IkVt f gr:747:,, fiRiNE1:.0,43i.,41-A -i 7, ' ,',.'' ' ,tY. ' ',:.,;::,'''';" •••:721. ' 'I I;t 'A'4.:, • 1 , , ":".1 1 i te'4.,. .(,.,•.;:',4,44.4 .1. .1A.', 1.• ::'•;U;0•:--•14.4;•-; :i'')%,.•M '•4•&-:; :,,tt.,,,.,,,, . ,,,,,,i.., ,., ..i , iti.!_,I•,:-„,0,,,--A-•,....t,,,W,,k,,. ..t511 ,-,J' .-W.•,,.:,• ,. • .:"•''6' . T-1;•X.•• • . ' •-.. r ? t t . 1.4.'"4, ',4.1-4-t,t4.4a1.•..q-'4 -,.,•-•.. • .•-}?e,:::!. -`• i-,,,,: :...'. :. -",-,.: I • 'i- i• . . tial0'.;-414.7,,i!..4s2,40-!.. !-•.;,!-I .- L r- 4,:,• ,', . .' V,,,,1:41i,:'- '-',I•p4,,4:-.44,1,1'.7, 44 •• . :;(.4V-42.k.;:„.:!...*kvp'SO I 1•- ' ',, 4'----.'"' ..'t'--: ..,' 1 3 :•,!:7A . i,,, /,•?.:, : • -1--e,"•,:,!',,-,0.F.1.-.Lig.,i'-'-'4 •,'A.,',•,. r,•- •..--,0?-0,,Aus•-p,•!ZZ,,,,..f,:"4.Y...ickg,1 , •.'1 :i:Z.,W244-4; .•'P.'..,..• . r,. t-•:s. .1,.'4i,. 1 i • •.. ,,,,..-.,.. 14 ./' • . te..1'.. V4 ' \ . . , •- ..,',,.;- .,..so ,, .K ,J...4';,-•4, --.+tr., :',4!.,;2!'.'"!!--4-" :' x-;,:--,i4.,,..z.,,-4;.:4 -,,,,, , i: . , 1 • 15)(/) -..t.P:..V.-!''.A.iY:,V;:;VAti .-.A„4,..v;!„, e!:,!, ,-.4•R*41:1,,94A.1/4 '44 - " - ''' ' ---- .:-.. -,,,,-.,e..-..4-t.,.,:::.!!!,,,i$,-,4.,,,,-;,,,;,*- .,..4:::-.r4,,•,•:.i!.t,,...::.:k :- •..,,t.,:v•-:-.•.--:... - • .•,,,t'....,,it.,„•,,.-.. ii.K.-- , : , io ik-i-;,.-:.,:i::!‘z-1 ,4,g,114.4hki.,!;:,:!' . '-''.1''M..,;',,,it•r.,..4- , :' „.4.,,,.-,. .,,,•,-,,,,..• : '* ii-i rt*=,,r',i,,,,.: .m;Akpt;,,,rz • ,r,.• ,,,,,,-,,,,,.'''.163,.',''L',',',','.'7?..;/.`:=T,i;• ::,-,i h. — 1 ...,/ . ...,-- -..• \,,:.___..—--....-....._ , • _ '_!.. . 4\ , •. -,, .,-• ', ,, .I I . ! 1 Ti•, • • ' . . .... Z N 9 m N U Q Aksarben Village DLR Building Without TIF R.-.-ti,1: ' 1' , `rll. Costs Excluding FFE by DLR $8 335,070 Rent Increases 1%per Year DLR FFE Costs ter- , o e o 0 o Cash Return of 2%Per Year Per Square Foot Cost w/o FFE `_ t. 4..' NNN Increases 2.5%.per Year Per Square Foot Cost with FFE $295 Building Value Increase 1%Per Year Debt Ratio ,.i K E1„'•;p" Depreciation Assumes No Cost Segreagation For Faster Write-offs .E Ratio :�Age-g".4 0 •Rrofessionat Fees Are•For•Accountants;K 1%,Talk Returns quKY• :�m,��fib::,,=,� Debt 80% $6,665,056 Equity 20% $1,687,014 Cost Cost Per Foot Land(Estimated) ";I;._., 0°.°:.!. Construction and Land Cost $13,085,893 $268.86. Asset Value Less Land ,485,070 ' benign Fee'S% $2t#9,1TT $8 07 Depreciable Ile 39 Professional Fees/Year mot ,,00 )' Per Unit Investor Amount :N c.-4• Investor Unfts 33.3 Total Construction Cost $8,335,070 $277.84 Building Footage(Approx Gross) W,.o.j0!o `ig u LLC Rent Income Rate � •::.n: :�;�a7� Interest Rate 4�.4 L''6VI c Amortization(Years) ak;`�..•4' y4. NNN Costs Per Foot _._:":-` .•• Cash on Cash Return% 2.00% 2.00% 2.00% 2.00% 200% Year 4 Year-2 Year-3 Year4 Year-6 Income: Rent $510,000 $515,100 $520,251 $525,454 $530,708 ..Interest Income 2,000 -21000 -2,000 21000 -2,000 Total Income 512,000 517,100 522,251 527,454 532,708 Expenses: Depreciation (191,925) (191,925) (191,925) (191,925) (191,925) Interest • (447,922) (442.974) (437,681) (432,020) (425,985) Professional Fees (5,000) (5,150) (5,305) (5,464) (5,628) Total Expenses .(644,847) .(640,049) .(634,911.) .(629,409) .(623,517) Projected Income ($132,847) ($122,949) ($112,660) ($101,955) ($90,809) Depreciation 191,925 191,925 191,925 191,925 191,925 Note Reduction (71,085) (76,013) (81,305) (86,967) (85,029) Projected Cash Flow ($11,987) ($7,037) ($2,040) $3,003 $16,087 Cash Retained Each Year(If Negative, Rent Rate Needs To Be Adjusted) ($45,327) ($40,377) ($35,380) ($30,337) ($17,253) Cumulative Cash Retained ($45,327) ($85,704) ($121,084) ($151,421) ($168,674) bishibtition Available $33,340 .$33..340 .$33,340 -$33,340 $33;340 Distribution Per Unit $1,000 $1,000 $1,000 $1,000 $1,000 Cumulative Distribution Amounts $1,000 $2,000 $3,000 $4,000 $5,000 Annual Cash Rate of Return 200% 2.00% 2.00% 2.00% 2.00% • Projected Property Value 8,418,421 8,502,605 8,587,631 8,673,507 8,780,242 Less Mortgage Balance 6,596,991 6,520,978 6,439,673 6,352,707 6,287,678 Net Property Value 1,821,429 1,981,626 2,147,958 2,320,801 2,492564 Per Unit Property Value $54,631 $59,436 $64,425 $69,610 $74,761 Annual increase $4,631 $9,436 $14,425 $19,610 $24,761 Total Rate of Return 11% 21% 31% 41% 52% Monthly Rent Expense: -$42,500 $42,925 $43,354 $43,788 $44,226 NNN Expenses • , $22,500 $23,083 $23,639 $24,230 $24,836 Total Monthly Rent Exp •$65,000 $65,988 $66,993 • $68,018 $699,081 Base Rent Cost Per Foot' . •$17.00 $17.17 .:$17.34 $17.52 :$17.89 Total-Rent-Coat-Per-Foot 428,00 428.40 426,80 42721 427112 'Annualized Cost. _... ... $780.000 .$791,1350. $803,920_._.. ••,:8916.214 . . ....$828,738.. 920 $816,214 $828,738 ' ,'".,',...,;;;;:.,.t '',",,V'4.,-:r ",!,,,,,',,,i,'-', t..,;...,f,_i • IkVt f gr:747:,, fiRiNE1:.0,43i.,41-A -i 7, ' ,',.'' ' ,tY. ' ',:.,;::,'''';" •••:721. ' 'I I;t 'A'4.:, • 1 , , ":".1 1 i te'4.,. .(,.,•.;:',4,44.4 .1. .1A.', 1.• ::'•;U;0•:--•14.4;•-; :i'')%,.•M '•4•&-:; :,,tt.,,,.,,,, . ,,,,,,i.., ,., ..i , iti.!_,I•,:-„,0,,,--A-•,....t,,,W,,k,,. ..t511 ,-,J' .-W.•,,.:,• ,. • .:"•''6' . T-1;•X.•• • . ' •-.. r ? t t . 1.4.'"4, ',4.1-4-t,t4.4a1.•..q-'4 -,.,•-•.. • .•-}?e,:::!. -`• i-,,,,: :...'. :. -",-,.: I • 'i- i• . . tial0'.;-414.7,,i!..4s2,40-!.. !-•.;,!-I .- L r- 4,:,• ,', . .' V,,,,1:41i,:'- '-',I•p4,,4:-.44,1,1'.7, 44 •• . :;(.4V-42.k.;:„.:!...*kvp'SO I 1•- ' ',, 4'----.'"' ..'t'--: ..,' 1 3 :•,!:7A . i,,, /,•?.:, : • -1--e,"•,:,!',,-,0.F.1.-.Lig.,i'-'-'4 •,'A.,',•,. r,•- •..--,0?-0,,Aus•-p,•!ZZ,,,,..f,:"4.Y...ickg,1 , •.'1 :i:Z.,W244-4; .•'P.'..,..• . r,. t-•:s. .1,.'4i,. 1 i • •.. ,,,,..-.,.. 14 ./' • . te..1'.. V4 ' \ . . , •- ..,',,.;- .,..so ,, .K ,J...4';,-•4, --.+tr., :',4!.,;2!'.'"!!--4-" :' x-;,:--,i4.,,..z.,,-4;.:4 -,,,,, , i: . , 1 • 15)(/) -..t.P:..V.-!''.A.iY:,V;:;VAti .-.A„4,..v;!„, e!:,!, ,-.4•R*41:1,,94A.1/4 '44 - " - ''' ' ---- .:-.. -,,,,-.,e..-..4-t.,.,:::.!!!,,,i$,-,4.,,,,-;,,,;,*- .,..4:::-.r4,,•,•:.i!.t,,...::.:k :- •..,,t.,:v•-:-.•.--:... - • .•,,,t'....,,it.,„•,,.-.. ii.K.-- , : , io ik-i-;,.-:.,:i::!‘z-1 ,4,g,114.4hki.,!;:,:!' . '-''.1''M..,;',,,it•r.,..4- , :' „.4.,,,.-,. .,,,•,-,,,,..• : '* ii-i rt*=,,r',i,,,,.: .m;Akpt;,,,rz • ,r,.• ,,,,,,-,,,,,.'''.163,.',''L',',',','.'7?..;/.`:=T,i;• ::,-,i h. — 1 ...,/ . ...,-- -..• \,,:.___..—--....-....._ , • _ '_!.. . 4\ , •. -,, .,-• ', ,, .I I . ! 1 Ti•, • • ' . . .... Z N 9 m N U Q TIF Cost Benefit Analysis: The project compliments the development of an approximately 70-acre mixed- use development. It is an important project that will have a significant impact on this section of the former Ak-Sar-Ben Race Track property by providing the opportunity to bring additional goods and services to the area. There is evidence of potential opportunities for expansion and growth, however the marginal benefit to developers and the cost of development has prevented this from being achieved in the past. It is necessary for innovative financing approaches to be used to encourage development and to support the potential growth that will occur as a result of this and other improvements in the area. The use of Tax Increment Financing will not result in tax shifts. The current level of taxes will continue to flow to the current taxing entities and only the increased value of revenues resulting from the improvements will be applied to the cost of the improvement. 1) No community public service needs will be generated as a result of this project. The proposed TIF will be used to offset the cost of public infrastructure improvements including traffic systems eliminating potential traffic concerns that may be a determent to the development and to defray extensive site development cost which are eligible TIF activities. The development and expansion of this site will provide employment and services, which are needed to support the additional institutional and commercial expansion in this sector of the community. 2) This development will have an impact on other businesses in the area. There will be increased competitive demand for the employees to fill the additional employment opportunities. There will also be an increase in competition for customers and this is the healthy basis of our economic system. This factor stimulates the delivery of quality goods and services. 3) The elimination of the substandard and blight designation and the provision of new employment opportunities and services will stimulate needed economic opportunities to support the expansion and growth. The expansion will cause an increase in traffic in the area; however, it will cause a corresponding reduction in traffic in other areas by providing the delivery of localize goods and services which will reduce the outflow of people and of dollars from the area. The current street system is not able to accommodate the development, however the City will require improvements on the abutting right —of-ways to provide for an improved traffic system that will eliminate potential traffic problems and safety concerns. The development of the site, the elimination of potential traffic safety conditions, the creation of new businesses, the creation of new employment opportunities and the delivery of goods and services justify the cost associated with the project. The long-term benefits from the institutional and commercial expansion, increased employment, and the 4,425 $69,610 $74,761 Annual increase $4,631 $9,436 $14,425 $19,610 $24,761 Total Rate of Return 11% 21% 31% 41% 52% Monthly Rent Expense: -$42,500 $42,925 $43,354 $43,788 $44,226 NNN Expenses • , $22,500 $23,083 $23,639 $24,230 $24,836 Total Monthly Rent Exp •$65,000 $65,988 $66,993 • $68,018 $699,081 Base Rent Cost Per Foot' . •$17.00 $17.17 .:$17.34 $17.52 :$17.89 Total-Rent-Coat-Per-Foot 428,00 428.40 426,80 42721 427112 'Annualized Cost. _... ... $780.000 .$791,1350. $803,920_._.. ••,:8916.214 . . ....$828,738.. 920 $816,214 $828,738 ' ,'".,',...,;;;;:.,.t '',",,V'4.,-:r ",!,,,,,',,,i,'-', t..,;...,f,_i • IkVt f gr:747:,, fiRiNE1:.0,43i.,41-A -i 7, ' ,',.'' ' ,tY. ' ',:.,;::,'''';" •••:721. 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V4 ' \ . . , •- ..,',,.;- .,..so ,, .K ,J...4';,-•4, --.+tr., :',4!.,;2!'.'"!!--4-" :' x-;,:--,i4.,,..z.,,-4;.:4 -,,,,, , i: . , 1 • 15)(/) -..t.P:..V.-!''.A.iY:,V;:;VAti .-.A„4,..v;!„, e!:,!, ,-.4•R*41:1,,94A.1/4 '44 - " - ''' ' ---- .:-.. -,,,,-.,e..-..4-t.,.,:::.!!!,,,i$,-,4.,,,,-;,,,;,*- .,..4:::-.r4,,•,•:.i!.t,,...::.:k :- •..,,t.,:v•-:-.•.--:... - • .•,,,t'....,,it.,„•,,.-.. ii.K.-- , : , io ik-i-;,.-:.,:i::!‘z-1 ,4,g,114.4hki.,!;:,:!' . '-''.1''M..,;',,,it•r.,..4- , :' „.4.,,,.-,. .,,,•,-,,,,..• : '* ii-i rt*=,,r',i,,,,.: .m;Akpt;,,,rz • ,r,.• ,,,,,,-,,,,,.'''.163,.',''L',',',','.'7?..;/.`:=T,i;• ::,-,i h. — 1 ...,/ . ...,-- -..• \,,:.___..—--....-....._ , • _ '_!.. . 4\ , •. -,, .,-• ', ,, .I I . ! 1 Ti•, • • ' . . .... Z N 9 m N U Q increase in the tax base from the development are other valid justifications to provide assistance to the project. The approval of the Ak-Sar-Ben Village concept Redevelopment Plan will facilitate the development of this area and create the opportunity for developers to apply for Tax Increment Financing (TIF) to be used as a financing mechanism to offset public improvement, site acquisition and development cost associated with the redevelopment. The project site meets the requirements of the Master Plan, and other City Ordinances as well as Nebraska Community Development Law that establishes the process and requirements for the approval of a redevelopment plan. .. �C .. 1—• cn oo 0 ,-). to 402-341-6000 15 • DIN 1 4 I 1 150 YEARS of COMMITMENT to CUSTOMERS. 1 , . • . , • - . 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Z N 9 m N U Q 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 I- Chairperson Board of Directors Papio Natural Resources District 8901 South 154'h Street Omaha, NE 68138 President Educational Services Unit 1 3215 Cuming Street Omaha, NE 68131 Chairperson Metropolitan Utilities District 1723 Harney Street Omaha, NE 68102 Chairperson Metro Area Transit Authority 2222 Cuming Street Omaha, NE 68102 Chairperson Omaha/Douglas Public Building Commission MAILING LIST RECEIVED At RECEIVED BY_Qr.. ' i\ ItGMADE 8 DATE MAILED 4V-Vel 150 YEARS of COMMITMENT to CUSTOMERS. • O��HA, NF City of �1I�' 1819 Farnam—Suite LC 1 AIIA A. :j1 Omaha, Nebraska 68183-0112 0 - V."IN Buster Brown (402) 444-5550 A0 ,��' City Clerk FAX (402) 444-5263 R47'F13 FE1 " "NOTICE TO TAXING AUTHORITY" NOTICE OF PUBLIC HEARING ON THE DLR GROUP HEADQUARTERS BUILDING TAX INCREMENT FINANCING (TIF) REDEVELOPMENT PROJECT PLAN Notice is hereby given that the Omaha City Council has set Tuesday, April 22, 2008 at 2:00 p.m. as the date of Public Hearing on the DLR Group Headquarters Building Tax Increment Financing (TIF) Redevelopment Project Plan. The DLR Group Headquarters Building Tax Increment Financing (TIF) Redevelopment Project Plan is approximately 0.37 acre located at approximately 65th and Frances Streets and is located within the Aksarben Village Redevelopment Project. The Redevelopment Plan is located within an area declared blighted and substandard and in need of redevelopment by the City Council by Resolution No. 3325 adopted December 17, 1996. The DLR Group Headquarters Building Tax Increment Financing (TIF) Redevelopment Project Plan proposes the construction of a 30,000 square foot headquarters building on a 16,000 square foot site. The plan proposes up to $1,000,000 in Tax Increment Financing. The total project cost is estimated to be $8,335,070. 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 : -,i,j,H''',':iii'...-::'.•i',.• k.-.1.'..:•'....!--..i:•-:‘:',•.:;Isj,:;'?:.Z:-;:.',ii:',...Y:•: :.:•'•"G)-- ••••'.;'•.:.'-'' •-•.: :4..::0;.?::::::(•;.•!'.::-4•`:=2"::•.:•::::11[-•••••,'•:a7g,:`,;::::]..i.,..r4:;i:;F:....... , .'.•:..-•' '. .Y': . .. I I 'H . '', ...;'':;:.........- ''.•'.'•.....•'''..'''''.....t;;;.:.:':',''-''.'.';'.-,71,;t'i!','. ,C.TI : -., '''..--''..:' ' ... I I 1 I I . , •..-:....:...•••,,,,..,...• ,-,..,,.•-....,,•:-.....,.• - • ... . . , . .- ..,.. ..... .. ., ...,....,. -. . ........ .. ........... .. . 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Z N 9 m N U Q PATCH II CLEARDATA Oil 1111111111 OM 11 hi MULTIPAGE-STOP MULTIPAGE-START Multi-Page Document header/Separator Place before and between multi-page documents rs Metropolitan Community College 3000 Fort Street Omaha, NE 68111 I- Chairperson Board of Directors Papio Natural Resources District 8901 South 154'h Street Omaha, NE 68138 President Educational Services Unit 1 3215 Cuming Street Omaha, NE 68131 Chairperson Metropolitan Utilities District 1723 Harney Street Omaha, NE 68102 Chairperson Metro Area Transit Authority 2222 Cuming Street Omaha, NE 68102 Chairperson Omaha/Douglas Public Building Commission MAILING LIST RECEIVED At RECEIVED BY_Qr.. ' i\ ItGMADE 8 DATE MAILED 4V-Vel 150 YEARS of COMMITMENT to CUSTOMERS. 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 approximately 0.37-acre DLR Group Headquarters Building Project Area is located at approximately 65th and Frances Streets (see attached Plan); and, WHEREAS,this Redevelopment Plan is located within an area previously declared "blighted and substandard and in need of redevelopment" by City Council Resolution No..3325, adopted December 17, 1996; and, WHEREAS,the DLR Group Headquarters Building Project Tax Increment Financing (TIF) Redevelopment Project Plan is to facilitate the construction of a 30,000 sq. ft Headquarters Building on a 16,000 sq.ft. site as indicated in the Plan attached hereto and made a part hereof;and, WHEREAS,the DLR Group Headquarters Building Project Tax Increment Financing (TIF)Redevelopment Project Plan provides for the use of Tax Increment Financing in the amount of $1,000,000 for installation of public improvements and infrastructure,the cost of utility relocations and installation, land acquisition, demolition,,and site preparation and related TIF eligible project costs; and, WHEREAS,an Industrial Development Bond issue may be used in this blighted and substandard area to assist with project financing; and, 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 under Sections 18-2147 through 18-2150, Revised Statutes of Nebraska; and, By Councilmember Adopted City Clerk Approved Mayor i - m 1 ! 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(TIF)Redevelopment Project Plan was approved by the City of Omaha Planning Board on December -- ' 5, 2007. NOW,THEREFORE,BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF OMAHA: THAT, the DLR Group Headquarters Building Project Tax Increment Financing (TIF)Redevelopment Project Plan,prepared by the Omaha City Planning Department,containing a provision for the division of ad valorem taxes under Section 18-2147 through 18-2150, Revised Statutes of Nebraska, in an amount up to $1,000,000, be and hereby is approved as the Redevelopment Plan for the DLR Group Headquarters Building Project Tax Increment Financing (TIF) Redevelopment Project Plan area located at 65th and Frances Streets. APPROVED AS . '. PLNAMR1077 Resolution ‘ ` C ' 2)01{10e - —•CITY ATTO EY DATE By... ..: . .. . ....... ..14440.t. ember • Adopted Q .-w 6 ,fil}', --0 _` City Clerk A roved) . ��f PP pF Mayor Project Plan provides for the use of Tax Increment Financing in the amount of $1,000,000 for installation of public improvements and infrastructure,the cost of utility relocations and installation, land acquisition, demolition,,and site preparation and related TIF eligible project costs; and, WHEREAS,an Industrial Development Bond issue may be used in this blighted and substandard area to assist with project financing; and, 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 under Sections 18-2147 through 18-2150, Revised Statutes of Nebraska; and, By Councilmember Adopted City Clerk Approved Mayor i - m 1 ! 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Ch � U4 f, ..k k R, ci \ k pi k .\. , = r.. 1 Ct'N, -< lk N \k , U \� Y (44 MI 1 .....! . % G ING LIST RECEIVED At RECEIVED BY_Qr.. ' i\ ItGMADE 8 DATE MAILED 4V-Vel 150 YEARS of COMMITMENT to CUSTOMERS. )— 6\ () " • 'NOTICE TO PUBLIC' NOTICE OF PUBLIC HEARING ON THE THE DAILY RECORD DLR GROUP HEADQUARTERS BUILDING TAX INCREMENT FINANCING(TIF) OF OM1�/f A LT A AHA REDEVELOPMENT PROJECT PLAN Notice is hereby given that the Omaha City Council has set Tuesday, April 22, RONALD A. HENNINGSEN, Publisher 2008 at 2:00 p.m. as the date of Puec PROOF OF PUBLICATION Hearing on the DLR Group Headquarters Building Tax Increment Financing (TIF) Redevelopment Project Plan. The DLR Group Headquarters Building UNITED STATES OF AMERICA, Tax Increment Financing mF) ' Redevelopment Project Plan i is The State of Nebraska, approximately 0.37 acre located at District of Nebraska, SS. approximately 65th and Frances Streets and is located within the Aksarben Village County of Douglas, Redevelopment Project. The City of Omaha, Redevelopment Plan is located within an area declared blighted and substandard and in need of redevelopment by the City J.BOYD Council by Resolution No. 3325 adopted December 17, 1996. being duly sworn,deposes and says that she is The DLR Group Headquarters Building Tax Increment Financing ITIF) Redevelopment Project Plan proposes the LEGAL EDITOR construction of a 30,000 square foot headquarters building on a 16,000 square of THE DAILY RECORD, of Omaha, a legal newspaper,printed and foot site.The plan proposes up to 57,000,000 in published daily in the English language, having a bona fide paid Tax Increment Financing. The total project circulation in Douglas County in excess of 300 copies, printed in sastid is estimatedavail to be public n. A copyof Omaha,in said Countyof Douglas,for plan is available for public inspection in g , more than fifty-two weeks last the City Clerk's Office. past; that the printed notice hereto attached was published in THE Public Hearing will be held before the City Council of the City of Omaha, in the DAILY RECORD,of Omaha,on Legislative Chambers, Omaha/Douglas Civic Center, 1819 Famam Street, Omaha, April 3 and 10 , 2008 Nebraska. BUSTER BROWN, . City Clerk ALL REQUESTS FOR SIGN LANGUAGE INTERPRETERS(SIGNERS) WILL REQUIRE A MINIMUM OF 48 HOURS ADVANCE NOTICE. IF ALTERNATIVE FORMATS ARE NEEDED That :, r aper during that time was regularly published and ALL REQUESTS WILL REQUIRE A MINIMUM OF 72 HOURS ADVANCE NOTICE. in a .(t„ 6 6,ten in the County of Dougl,- d State of Nebraska. PLEASE NOTIFY TAMMY BIODROWSKI - J� it 444-5553,IF ARRANGEMENTS NEED TO BE ....F' • h4-3&10 oe a[j j •••* Subscribed in m /resence and sworn to before - Publisher�,0*$N$CI 1 • 7 me thi 10thici a of ' iiii�ditional�Copies�l Q Ap Y i 0 8 • t j!�j� QF N Pu c i d Dougnty, • State o ebraska ..,...... . ._. • — I I ... , , . ...'• • --•••,..•:• '.'....'".: ':'• ..;,• I i i i, .•:........-.:.._, _..:,..• El 0 .• '••.":::: --•,.• • .-'s•':. . ..'" '••' ' ..1• - ' ... I -1 , 1 ' . .n•.•'.: 1.:''.....:'..: '-• •' 1 t— I , . - : ....'61,•:.- 7 I . , • ......,„- I ilj'i 1--- , ••:... 1— • --1 ..... C:. ... ------, . . ' . 1 a _ til 1•L. L_ ----1: I . . 1 -n __, 1 1 --7\i 1 ,:._._.., . --1 ' . (-) , -, m I t-_-' I ...... ._., ..1.... —I I • I: 0 r 1 - M . 1 •—it i —1 I. 1 . . . . ij . . ----- • . • 1 i 7 iii \;171 I IIII II--- I I 1- -' II 1, i 1 1 i 1 i I '1, -.717, ',- 11 II, 11, „ I . „ „ „ „ „ „ „ I I , I , , • , I.——L—--L——I——.1---1——I---L—J——I.—-1——L-,.—-L——I—— ——1——I——-, II" T---- - . 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Z N 9 m N U Q ' �a • NOTICE TO PUBLIC" NOTICE OF PUBLIC HEARING ON THE DLR L Proof of publication HEADQUARTERS BUILDING RS BUILDD ING TAX INCREMENT FINANCING (TIF)PROJECTENT PLAN Notice is hereby given that the Omaha City Council has set Tuesday,April 22, o AFFIDAVIT at 2:00 p.m.as the datea2008 off Public Hearingon the DLR Group Headquarters Building Tax Increment I. Financing (TIF) Redevelopment Project Plan. State of Nebraska, Douglas,County of ss: The DLR Group Headquarters Building Tax Increment Financing (TIF) Redevelopment Project Plan is approximately 0.37 acre located at approximately 65th and Frances Streets and is located within the Joyce Sawatzki being duly sworn, deposes and says that he/she is an Aksarben Village Redevelopment Project. The Redevelopment Plan is located within an area employee of The Omaha World-Herald, a legal dailynewspaper rinted and declared blighted andgP substandard and in need of redevelopment by the City Council by Resolution No. published in the county of Douglas and State of Nebraska, and of general 3325 adopted December 17, 1996. The DLR Group circulation in the Counties of Douglas,and Sarpy and State of Nebraska,and that Headquarters Building Tax Increment Financing (TIF) Redevelopment Project Plan the attached printed notice was published in the said newspaper on the 14 &21 proposes the construction of a 30,000 square foot headquarters building on a 16,000 square foot site. days of April 2008, and that said newspaper is a legal newspaper under the The plan proposes up to $1,00000o inTax Increment statutes of the State of Nebraska. The above facts are within my personal Financing.The total project cost is estimated to be p,3070. l said copyof sai i dd planknowledge. The Omaha World-Herald has an average circulation of 182,437 is, available blo for inspection in the City Clerk's Office. , Public Hearing will be held Daily and 227,515 Sunday,in 2008. before the City Council of the City of Omaha, in the Legislative Chambers, Omaha/Douglas Civic Center,1819 Farnam Street, Omaha,Nebraska. Buster C ty Clerk Brown (Signed) Title:Account Executive ALL REQUESTS FOR SIGN ' LANGUAGE INTERPRETERS (SIGNERS)WILL REQUIRE A MIN MUM OF 48 H A OURS ADVANCE NOTICE. IF ALTERNATIVE FORMATS I t presence and sworn to before me this ARE NEEDED ALL MNMUM HOURSS scribed y — day of WILL REQUIRE A MNIMUM OF 72 ADVANCE Alp 'L ,2008. NOTICE.PLEASE NOTIFY TAMMY IF ARRANGEEMEENTTBA S NEED TO / MIRANaA KAY lQlenefcat Notohl Notary Public Stale o1 Nebra se.2012 ply commission txPi 0s JeM Printer's Fee$ Affidavit Paid By ..;,• I i i i, .•:........-.:.._, _..:,..• El 0 .• '••.":::: --•,.• • .-'s•':. . ..'" '••' ' ..1• - ' ... 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