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RES 2007-0414 - The Giovanna Rows at 6th and Pierce TIF redevelopment plan r OM�HA,n,, 4.0. ,°.r, ; Pl: z:::: ni vAgiaR,C v ] v r ». *M� , 2 �, , t N 1819 Farnam Street,Suite 1100 ref C1_ 07 firar o®yr h F6 �, 26 P Omaha,Nebraska 68183 °0,;" ry (402)444 5150 • �'I u"''r' r. *-r•� Telefax(402)444-6140 p44'DFEW) i LeL i% 0 t i I'!Vi`'`' , ,, b , : Steven N.Jensen,AICP City of Omaha L.;r 1 r. Director Mike Fahey,Mayor April 3, 2007 Honorable President and Members of the City Council, The attached proposed Resolution transmits the Giovanna Townhomes, LLC Tax Increment Financing (TIF) Redevelopment Project Plan for the Giovanna Rows @ 6th and Pierce Development Project Area, located at 6th and Pierce Street. The plan provides for the redevelopment of approximately 0.56 acres within the "Little Italy" area just south of the Old Market to facilitate the construction of fourteen town homes and two potential live/work spaces. • The project cost is approximately $3,866,800 funded in part with TIF funds up to the amount of i $450,000. The City Planning Board recommended approval of the Giovanna Townhomes, LLC Tax Increment Financing (TIF) Redevelopment Project Plan at its meeting on February 7, 2007. Your favorable consideration of this Resolution is requested. Res ctfully submitted, Referred to City Council for Consideration: ' " 1123/o7 ��Y '"�Lw 3:e2lv-01 even N. Jensen, AICP#----- Date Mayor's Office Date cAey. Planning Director Approved: Cu,1.4. CLAY-e‘..- 3 /p 1°, Carol A. Ebdon , 1, Date Finance Director v�- P:\PLN4\17171 maf.doc PUBLICATION OF PUBLIC HEARING: April 5, 2007 and April 12, 2007 PUBLIC HEARING: April 24, 2007 The before the Council the City of Omaha, in the Legislative Chambers, 1 Omaha/Douglas Civic Center,1819 Farnam Street, Omaha World-Herald has an average circulation of 188,248 Daily and 235,161 Omaha,Nebraska. ' Buster City Brown Sunday,in 2007. 1 1 ALL REQUESTS FOR SIGN LANGUAGE INTERPRETERS (SIGNERS)WILL REQUIRE A MINIMUM OF 48 HOURS ADVANCE NOTICE. IF ALTERNATIVE FORMATS • ARE NEEDED ALL REQUESTS WILL REQUIRE A MINIMUM OF 72 HOURS ADVANCE (Signed) Title:Account Executive NOTICE. PLEASE NOTIFY TAMMY 1, BIQDROWMENTS NEED - i IF ARRANGEMENTS NEED t0 BE MADE Su 1icribect -ii my presence and sworn to before me this .=)--• day of 1_, ,2007. 'fir n ."-t")...4. \ No ublic Printer's Fee$ Affidavit Paid By -,i'..�•y: ,DNNtEJ.LEE I '°ENr°v ' E A COMMISSION EXPIRES ;NOTAA i ., RASw• January 22,2010 • �} • te , d � tixu r Xt.4' il r,5-aA�+4yt ! • ! i' f " � ` la ; r �+ : :'" • :t ''' - ,'Af.,.24tev .::,,, ''•illiffs4:: 4r7 - -- w.R :'.i'>ff. "�� .'rf-.'. - -. '-l�j,'s ♦. ' n.4=f'•`r,at'-t: - a!'=y'� Magnum Realty,Inc i M 11550 I Street,Suite 200 MAG NIJM '" Omaha,NE 68137 (402)558 2200 • fax,(402)558 1998 REALTY , I N C I _. ..s..r'.w_a.w.-;,.., -*.n+.nu..—u4..441.1..!._,:.L......_.:,n".0.+:w.«Ss w._..--n.r-.....a:. x'.a..•s- .. a.A:G3.,4,::,- .a; I a'Q O M C '(p l0 N N 7 . > U- O y E I--d c> e C CD CD O 0 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 Ni I Q a0 X O sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr aN) I cr. C �� QQQQQQQQQQQQQQQQQQQQQQQQQQI 8 m a) ` I - C I 7 I J U O N C)75 W I • 1.; 1 C O O m . 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N O N 11 (n aI O W O . 27 a) >m i, it 9E'o� E U II N W J a) II 17 a) d '0'V W I .II r g N 2 a - 1 0 0 p o 0 o C)C)CO)O 0 0O)0)0)CD 0O) 0O)T 0)0O)0)CD T 0O)0)OO)0O) 0)0 0O)CO)CA 00) o f x c o 0. -O O C 0010000000000000000000000,00 0 U$2 N a)O 11 O N S2 O I N N N N N N N N N N N N N N N N c' N N N N N N N N C4 N U N C0 O 1 0 X g 1 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 C - 7 TO I Q N a A F O N ItQ Q sr sr sr sr Q sr sr Q Q Q Q Q sr Q sr Q Q Q Q Q sr sr Q 0 t0 7 0 > a) tQ.. I-> c0.. C j t0 )- E«O O a) C C O u) .-u)N(O el up sr up (0u)(D u)1-u)a0(0 a)(0 O u),-u)N u)C)u)Q(0 u) O V.'N t0 7 O 0 - N C) Q u) CO r` m O T O `- '-'C)`-99 ^ O C E a T a_ m w (Cp a 1 . U d c.I- a In Q a)U m 7 N Q . Z N (0 N U • Exhibit "A" THE GIOVANNA ROWS AT 6TH AND PIERCE TAX INCREMENT FINANCING REDEVELOPMENT PLAN { MARCH, 2007 OMAHA NF �oF N 6'Py O+P PLANNING• OMAHA 'TD FEBROt* Mike Fahey, Mayor City of Omaha Steven N. Jensen, AICP, Director Planning Department Omaha/Douglas Civic Center 1819 Farnam Street Omaha, Nebraska 68183 J 4., , , ,\ , . .....N.,. . ........ ,, ____ ___ _...,. v J' Clerk //11407 Approved Mayor 0,AI'ING MADE ?� 1)/\TE MAILED_ 4 5/ 6 7 5 Mirka rvicleif LEGAL DESCRPTION PARCEL 1 LOT 1, BLOCK 265, ORIGINAL CITY OF OMAHA, DOUGLAS COUNTY, NEBRASKA, TOGETHER WITH 15 FEET OF VACATED PIERCE STREET ADJOINING ON THE NORTH AND 20 FEET OF VACATED 6TH STREET ADJOINING ON THE EAST. PARCEL 2 LOT 4, BLOCK 266, ORIGINAL CITY OF OMAHA, DOUGLAS COUNTY, NEBRASKA, TOGETHER WITH 15 FEET OF VACATED PIERCE STREET ADJOINING ON THE NORTH AND 20 FEET OF VACATED 6TH STREET ADJOINING ON THE WEST. 8 Nebraska 68183 J 4., , , ,\ , . .....N.,. . ........ ,, ____ ___ _...,. v J' Clerk //11407 Approved Mayor 0,AI'ING MADE ?� 1)/\TE MAILED_ 4 5/ 6 7 5 A'1 aC14WICn1 2 047 Z it I I 9 6 8• n tJ _ p� q� q�n q� p y +: m �i 00 0 I' oo .o !r y a 71 _ 'q ) Ir D) 1100V s _{{ Irm ®' ® s 'af :11 1 _ O 111 111 imp -11111/1111111 E II C On J__ J_ 1__ iin:m I� m• '�-1® i� __ --n '164n 9ntif<rr- __ aBtee�..-- :innn..,....__ • _ 1. INN all 111 "'�I II`I •I� Er: 8.8TH STREET VII" 101 101 fY a *I r° ,rr, -,-1, imD .___ ] MO of ,______, _ . _ . Li - f4 11-1- t 1 t 9 m 14, . �1. ® up I p , '•r -q 4 M7'--' E_ L > ■■ I —J / ti a 11 U. 1® tl _ i ti m 1 „ z .,. 1� • Km Ili ill 9 �A !0 ; lo , ^, FT til r 1 ;� ijUui IIII a® 101 al p . ) © 1 u1 M iNl _ #i. �1 cm 1®1 Fl ' , — u III A X lion m w 1ilretl 0: I®1 € [ Oi', _�! .I ��I- 1 4_ Og MI i rl� I' I` 'I d a I 911111111111IIII1111aw 7/ i13i®1 , , �,.- ,. _r4 N imunuillr 1 ', �o lip------1 _ _ ° I m O pm ..1■ I po ` ['l O � 0 _ y y II=®� Q6a ] — 41 a ' a o K P lli R y CONSTRUCTION DOCUMENTS FOR: 1 — o$ a v $a H$D' wAimimm 6 °F°Iiigfi I I GIOVANNA ROWSIiiQl �. 55yyjjL 1 y mom C�Ry z P 70 a{$gg p •Iii- F@ gg 9 — N 8 '.$R¢^RN4 A < 60MAHA NRGEE. _ I (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 (Signed) Title:Account Executive NOTICE. PLEASE NOTIFY TAMMY 1, BIQDROWMENTS NEED - i IF ARRANGEMENTS NEED t0 BE MADE Su 1icribect -ii my presence and sworn to before me this .=)--• day of 1_, ,2007. 'fir n ."-t")...4. \ No ublic Printer's Fee$ Affidavit Paid By -,i'..�•y: ,DNNtEJ.LEE I '°ENr°v ' E A COMMISSION EXPIRES ;NOTAA i ., RASw• January 22,2010 • �} • te , d � tixu r Xt.4' il r,5-aA�+4yt ! • ! i' f " � ` la ; r �+ : :'" • :t ''' - ,'Af.,.24tev .::,,, ''•illiffs4:: 4r7 - -- w.R :'.i'>ff. "�� .'rf-.'. - -. '-l�j,'s ♦. ' n.4=f'•`r,at'-t: - a!'=y'� Magnum Realty,Inc i M 11550 I Street,Suite 200 MAG NIJM '" Omaha,NE 68137 (402)558 2200 • fax,(402)558 1998 REALTY , I N C I _. ..s..r'.w_a.w.-;,.., -*.n+.nu..—u4..441.1..!._,:.L......_.:,n".0.+:w.«Ss w._..--n.r-.....a:. x'.a..•s- .. a.A:G3.,4,::,- .a; I a'Q O M C '(p l0 N N 7 . > U- O y E I--d c> e C CD CD O 0 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 Ni I Q a0 X O sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr aN) I cr. 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N O N 11 (n aI O W O . 27 a) >m i, it 9E'o� E U II N W J a) II 17 a) d '0'V W I .II r g N 2 a - 1 0 0 p o 0 o C)C)CO)O 0 0O)0)0)CD 0O) 0O)T 0)0O)0)CD T 0O)0)OO)0O) 0)0 0O)CO)CA 00) o f x c o 0. -O O C 0010000000000000000000000,00 0 U$2 N a)O 11 O N S2 O I N N N N N N N N N N N N N N N N c' N N N N N N N N C4 N U N C0 O 1 0 X g 1 N N N N N N N N N N N N N N N N N N N N N N N N N N C - 7 TO I Q N a A F O N ItQ Q sr sr sr sr Q sr sr Q Q Q Q Q sr Q sr Q Q Q Q Q sr sr Q 0 t0 7 0 > a) tQ.. I-> c0.. C j t0 )- E«O O a) C C O u) .-u)N(O el up sr up (0u)(D u)1-u)a0(0 a)(0 O u),-u)N u)C)u)Q(0 u) O V.'N t0 7 O 0 - N C) Q u) CO r` m O T O `- '-'C)`-99 ^ O C E a T a_ m w (Cp a 1 . U d c.I- a In Q a)U m 7 N Q . Z N (0 N U ' CASE: C3-07-048 11 APPLICANT: Giovanna Townhomes, LLC REQUEST: Approval of the GIOVANNA ROWS @ 6 & PIERCE STREETS ' TAX INCREMENT FINANCING REDEVELOPMENT PLAN LOCATION: 6 & Pierce Streets SUBJECT AREA IS SHADED - FEBRUARY 2007 • • HI I -4 R7 3 .- l HI IIIIIk H I HI R7 HI Pierce --Ire NT-- 1 GC GC GC NBD NBBDD GC Ilk' isiR7 R7 GI R7 sv R Po• •Teton 2111 R7 R7 LRT1 7 R7 R7 R7 R7 G ------, s I I I id0 200 Feet A v J' Clerk //11407 Approved Mayor 0,AI'ING MADE ?� 1)/\TE MAILED_ 4 5/ 6 7 5 • CASE: C3-07-048 11 APPLICANT: Giovanna Townhomes, LLC REQUEST: Approval of the GIOVANNA ROWS @ 6 & PIERCE STREETS TAX INCREMENT FINANCING REDEVELOPMENT PLAN LOCATION: 6 & Pierce Streets Pacific . ., - '. -r. f Y '' 2i Mt a} 1 0 t •., ' - 10 _ I ( , ` - ti .1 , ,;. . , — Id` �� — ,�,.- : r : Iva, i Pr- . 1,4a ► .1 `y i Iw ."ti ✓'J. { _ pierce , -- _ ."__ _ , - -- -� ,4, -- , '�; I4 . '.. e. 11P'Ci '...,. I 7 '.. ' 411; 0: ft A! oa �II. 1 - '' q. F t. tr • I ' f t ' It ti �.. � . . 1 li ,� " ►E •Ili 111P) pLq' I Mkt' k.'.diisl : ;tom .,,, . a .. tt4,, 6, ^14, 1-— ': 2 , , ,f it . _. I w —Two._.._ �r ,.. 1 � r�;�•.,..,y -;,,parr•«.. '�. +'_ 41. r 0 200 Feet [ Oi', _�! .I ��I- 1 4_ Og MI i rl� I' I` 'I d a I 911111111111IIII1111aw 7/ i13i®1 , , �,.- ,. _r4 N imunuillr 1 ', �o lip------1 _ _ ° I m O pm ..1■ I po ` ['l O � 0 _ y y II=®� Q6a ] — 41 a ' a o K P lli R y CONSTRUCTION DOCUMENTS FOR: 1 — o$ a v $a H$D' wAimimm 6 °F°Iiigfi I I GIOVANNA ROWSIiiQl �. 55yyjjL 1 y mom C�Ry z P 70 a{$gg p •Iii- F@ gg 9 — N 8 '.$R¢^RN4 A < 60MAHA NRGEE. _ I (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 (Signed) Title:Account Executive NOTICE. PLEASE NOTIFY TAMMY 1, BIQDROWMENTS NEED - i IF ARRANGEMENTS NEED t0 BE MADE Su 1icribect -ii my presence and sworn to before me this .=)--• day of 1_, ,2007. 'fir n ."-t")...4. \ No ublic Printer's Fee$ Affidavit Paid By -,i'..�•y: ,DNNtEJ.LEE I '°ENr°v ' E A COMMISSION EXPIRES ;NOTAA i ., RASw• January 22,2010 • �} • te , d � tixu r Xt.4' il r,5-aA�+4yt ! • ! i' f " � ` la ; r �+ : :'" • :t ''' - ,'Af.,.24tev .::,,, ''•illiffs4:: 4r7 - -- w.R :'.i'>ff. "�� .'rf-.'. - -. '-l�j,'s ♦. ' n.4=f'•`r,at'-t: - a!'=y'� Magnum Realty,Inc i M 11550 I Street,Suite 200 MAG NIJM '" Omaha,NE 68137 (402)558 2200 • fax,(402)558 1998 REALTY , I N C I _. ..s..r'.w_a.w.-;,.., -*.n+.nu..—u4..441.1..!._,:.L......_.:,n".0.+:w.«Ss w._..--n.r-.....a:. x'.a..•s- .. a.A:G3.,4,::,- .a; I a'Q O M C '(p l0 N N 7 . > U- O y E I--d c> e C CD CD O 0 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 Ni I Q a0 X O sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr aN) I cr. C �� QQQQQQQQQQQQQQQQQQQQQQQQQQI 8 m a) ` I - C I 7 I J U O N C)75 W I • 1.; 1 C O O m . 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N O N 11 (n aI O W O . 27 a) >m i, it 9E'o� E U II N W J a) II 17 a) d '0'V W I .II r g N 2 a - 1 0 0 p o 0 o C)C)CO)O 0 0O)0)0)CD 0O) 0O)T 0)0O)0)CD T 0O)0)OO)0O) 0)0 0O)CO)CA 00) o f x c o 0. -O O C 0010000000000000000000000,00 0 U$2 N a)O 11 O N S2 O I N N N N N N N N N N N N N N N N c' N N N N N N N N C4 N U N C0 O 1 0 X g 1 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 C - 7 TO I Q N a A F O N ItQ Q sr sr sr sr Q sr sr Q Q Q Q Q sr Q sr Q Q Q Q Q sr sr Q 0 t0 7 0 > a) tQ.. I-> c0.. C j t0 )- E«O O a) C C O u) .-u)N(O el up sr up (0u)(D u)1-u)a0(0 a)(0 O u),-u)N u)C)u)Q(0 u) O V.'N t0 7 O 0 - N C) Q u) CO r` m O T O `- '-'C)`-99 ^ O C E a T a_ m w (Cp a 1 . U d c.I- a In Q a)U m 7 N Q . Z N (0 N U INTER-OFFICE COMMUNICATION Date: January 12, 2007 To: Chairman and Members of the Omaha Planning Board From: Steve Jensen, AICP Planning Director Developer: Giovanna Townhomes, LLC Project: Giovanna Rows @ 6th & Pierce Street Tax Increment Financing Redevelopment Plan The Giovanna Rows is a new construction residential town home development located near 6th and Pierce Streets,just south of the Old Market in an area often referred to as "Little Italy". The Project consists of fourteen town homes and two potential live/work spaces offering the opportunity to return neighborhood retail establishments to the corners. The continued expansion and development of this area with new owner occupied housing continues the rebirth of this area south of downtown Omaha and compliments the expanded housing growth of downtown. The Giovanna Rows Redevelopment Plan Area and the adjacent property within the currently approved Substandard and Blighted designated boundary was approved to facilitate the continued development of additional residential opportunities. The plan recommends and supports the use of Tax Increment Financing, subject to compliance with Nebraska Community Development Law and the review and approval of specific project implementation plans by the Planning Board and City Council, to cover acquisition, demolition, site development, public improvements and related TIF eligible project specific cost. The project site and area meets the requirements of Nebraska Community Development Law and qualify for the application for and the utilization of Tax Increment Financing. Recommendation: The department recommends approval of the Giovanna Townhomes, LLC, Redevelopment Project Plan for the Giovanna Rows Townhome Development Project Area located at 6th & Pierce Street. 0 _ y y II=®� Q6a ] — 41 a ' a o K P lli R y CONSTRUCTION DOCUMENTS FOR: 1 — o$ a v $a H$D' wAimimm 6 °F°Iiigfi I I GIOVANNA ROWSIiiQl �. 55yyjjL 1 y mom C�Ry z P 70 a{$gg p •Iii- F@ gg 9 — N 8 '.$R¢^RN4 A < 60MAHA NRGEE. _ I (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 (Signed) Title:Account Executive NOTICE. PLEASE NOTIFY TAMMY 1, BIQDROWMENTS NEED - i IF ARRANGEMENTS NEED t0 BE MADE Su 1icribect -ii my presence and sworn to before me this .=)--• day of 1_, ,2007. 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N O N 11 (n aI O W O . 27 a) >m i, it 9E'o� E U II N W J a) II 17 a) d '0'V W I .II r g N 2 a - 1 0 0 p o 0 o C)C)CO)O 0 0O)0)0)CD 0O) 0O)T 0)0O)0)CD T 0O)0)OO)0O) 0)0 0O)CO)CA 00) o f x c o 0. -O O C 0010000000000000000000000,00 0 U$2 N a)O 11 O N S2 O I N N N N N N N N N N N N N N N N c' N N N N N N N N C4 N U N C0 O 1 0 X g 1 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 C - 7 TO I Q N a A F O N ItQ Q sr sr sr sr Q sr sr Q Q Q Q Q sr Q sr Q Q Q Q Q sr sr Q 0 t0 7 0 > a) tQ.. I-> c0.. C j t0 )- E«O O a) C C O u) .-u)N(O el up sr up (0u)(D u)1-u)a0(0 a)(0 O u),-u)N u)C)u)Q(0 u) O V.'N t0 7 O 0 - N C) Q u) CO r` m O T O `- '-'C)`-99 ^ O C E a T a_ m w (Cp a 1 . U d c.I- a In Q a)U m 7 N Q . Z N (0 N U PROJECT SUMMARY The Giovanna Rows is a new construction residential townhome development located on. the corner of 6th and. Pierce Streets,just south of the Old Market in an area often referred to as "Little Italy". The project consists of fourteen townhomes and two potential live/work spaces offering the opportunity to return neighborhood retail establishments to the corners. The site is owned by Giovanna Townhomes, LLC. Each townhome will have 1,625 square feet of living space and will range in price from $230,000 to $250,000. The project is located in an area approved by the Omaha City Council as blighted and substandard. The project is near the new "Towns at Little Italy" and will continue the residential and commercial revitalization of the neighborhood. PROJECT DESCRIPTION The Giovanna Rows will be built with an Italian motif The project consists of two L- shaped buildings constructed on the northwest and southwest corners of 6th and Pierce Streets. Each building will have seven row-style townhomes, with an additional townhome on the corner, which will have 867 square feet of ground floor commercial space. The corner townhome is designed as an ideal live/work space appropriate for an art gallery, bakery, law office or some other type of retail or commercial space. These corner townhomes can function either as stand-alone residential units with independent commercial space below, or live/work spaces. The project will have a distinctive look with individual two-car garages on the ground floor. The owner will enter their garage through the alley to the back side of their unit. The townhomes will each have two bedrooms and one and a half bathrooms. The living and dining spaces are located on the second floor and feature a "Juliette balcony" off the living and dining rooms. The Juliette balcony is a set of French doors that open to the outside and are protected by a wrought-iron guard railing. The bedrooms will be on the third floor. Both bedrooms connect to a shared full bathroom. The master bedroom has a walk-in closet. The main living areas will feature ceramic floors and the cabinet doors will be made in Italy, with cabinet boxes designed by Eurowood of Omaha. The appliances will be GE with a black finish and the counter will be Corian with the option to upgrade to granite. The light fixtures will continue the Italian theme and be appropriate for the genre. Finally, all but the corner townhomes also have an over two-hundred square foot rooftop deck, thirty feet high and providing excellent views of the ConAgra fountain and Missouri River, in addition to the new pedestrian bridge. Tararget Market Although, ideal for young singles and empty-nesters, as are many of the new condominium developments in Downtown Omaha, this project also lends itself to young 14 ....1.0 • ,::::: *nil•- -- • -'177-i'v.-... ., . •. W) , , ....... 1,,, -;,., - - ,_ _ _ ..,•', ., . ,.. 1 . . •..., - -)- , • . tMilik.',...M.D. .• .. . - I!-:. •' ' ",••• •,,-• , • . . : :::'i, Mat--', - 1,130 '• LIZ_.0. )'' ••."-• 52,.., .:.. ,/.,.•-.. -.- ::-•- •••', •.'.( ..„ . .A;,..,;• . ,_ _ : :'" • :t ''' - ,'Af.,.24tev .::,,, ''•illiffs4:: 4r7 - -- w.R :'.i'>ff. "�� .'rf-.'. - -. '-l�j,'s ♦. ' n.4=f'•`r,at'-t: - a!'=y'� Magnum Realty,Inc i M 11550 I Street,Suite 200 MAG NIJM '" Omaha,NE 68137 (402)558 2200 • fax,(402)558 1998 REALTY , I N C I _. ..s..r'.w_a.w.-;,.., -*.n+.nu..—u4..441.1..!._,:.L......_.:,n".0.+:w.«Ss w._..--n.r-.....a:. x'.a..•s- .. a.A:G3.,4,::,- .a; I a'Q O M C '(p l0 N N 7 . > U- O y E I--d c> e C CD CD O 0 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 Ni I Q a0 X O sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr aN) I cr. C �� QQQQQQQQQQQQQQQQQQQQQQQQQQI 8 m a) ` I - C I 7 I J U O N C)75 W I • 1.; 1 C O O m . 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I 2CO u,u)i x Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Cr Q Q Q Q Q Q Q Q 0 I >m 8� '17 .- I (9 N N 1 7 `m m - I c (U C Q O o co co co co co co co co OD Co co Co co co CO co o co co co 0 0 co co co ao ao(D CO m CO 0 0 a)C) 0)a)a) CD a)0)Q) 0 a)0 a)a)a)a)0 a)0 0 0 to al a)0 a)a)O)a)A a) .-(0 r-n n r-n n n r-I-r-h n r I-n 1-r-n I-r-r- n I-I-I- I-I-I-0-I-n ciao ma)a)O CD Ca)ocr) O)a)a)Oa)0)0)a)0)0 a)a) a)a)a)0 O a)m of a)a) xx 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 00 (D F J 1 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 N Q to Ca . a) E 0 0 0 0• O O o 0 O 0 0 0 0 0 0 0 0 0 O o 0 0 O 0 0 0 O o o 0 0 (0 y O a)O a)a)a)a)COa)O a)CI)0 CI)0)0 0)O)O)O)a) a)0 0 a) a) N 0 1L- 3 O 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 8 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 a) y u- 1 NNNNNNNNNNNNN NNNN NNNN NNNNN O)!!)a 2° 8 F m IN (p Q Q Q Q Q Q Q Cr Q Cr Q Q Q Q Q Q Q Q Q sr sr sr sr sr sr sr C C a, m 1-3 ((C N C N 0 0 0 0 0 0 0 0 0 CD CD CD CD CD CD 0 0 0 0 0 0 0 CD 0 0 CD CD 0 0 0 CC €O F g U_ N O a) W O a 0,a) i 1I .(0 t C d n> J O. N O N 11 (n aI O W O . 27 a) >m i, it 9E'o� E U II N W J a) II 17 a) d '0'V W I .II r g N 2 a - 1 0 0 p o 0 o C)C)CO)O 0 0O)0)0)CD 0O) 0O)T 0)0O)0)CD T 0O)0)OO)0O) 0)0 0O)CO)CA 00) o f x c o 0. -O O C 0010000000000000000000000,00 0 U$2 N a)O 11 O N S2 O I N N N N N N N N N N N N N N N N c' N N N N N N N N C4 N U N C0 O 1 0 X g 1 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 C - 7 TO I Q N a A F O N ItQ Q sr sr sr sr Q sr sr Q Q Q Q Q sr Q sr Q Q Q Q Q sr sr Q 0 t0 7 0 > a) tQ.. I-> c0.. C j t0 )- E«O O a) C C O u) .-u)N(O el up sr up (0u)(D u)1-u)a0(0 a)(0 O u),-u)N u)C)u)Q(0 u) O V.'N t0 7 O 0 - N C) Q u) CO r` m O T O `- '-'C)`-99 ^ O C E a T a_ m w (Cp a 1 . U d c.I- a In Q a)U m 7 N Q . Z N (0 N U families who want to live Downtown, but prefer a more neighborhood feel than an urban environment. The project is within walking distance of the Old Market and only a couple blocks from Dahlman Park. FINANCING PLAN AND PRELIMINARY FINANCING COMMITMENT The developer estimates the total cost of the project, including site acquisition, will equal or exceed $3,870,000 as reflected in the preliminary financial information included below. The approval of Tax Increment Financing of approximately $450,000 as a portion of the $3,870,000 total project cost will make the rehabilitation of this building feasible. Other financing includes a loan from First Westroads Bank and owner equity. STATEMENT AND DEMONSTRATION THAT PROJECT WOULD NOT PROCEED WITHOUT TIF Without approval of TIF funds, this project could not be completed in a feasible and cost effective manner. TIF blended with equity forms the critical basis for the remaining loan to be economically feasible. Without TIF funds, the developers investors would not realize a return on their equity investment commensurate with the overall risk involved. As shown by the preliminary financials, the estimated project cost will equal or exceed the sources of funds available. The project is not feasible without tax increment financing because without TIF there would be insufficient funds to complete the project and there would be a negative return on invested equity. However, with TIF there would be funds available sufficient to cover necessary debt service and repayment, operating expenses and provide an opportunity for an adequate return on invested equity. Thus, the project will not proceed without TIF. 2 ing and dining spaces are located on the second floor and feature a "Juliette balcony" off the living and dining rooms. The Juliette balcony is a set of French doors that open to the outside and are protected by a wrought-iron guard railing. The bedrooms will be on the third floor. Both bedrooms connect to a shared full bathroom. The master bedroom has a walk-in closet. The main living areas will feature ceramic floors and the cabinet doors will be made in Italy, with cabinet boxes designed by Eurowood of Omaha. The appliances will be GE with a black finish and the counter will be Corian with the option to upgrade to granite. The light fixtures will continue the Italian theme and be appropriate for the genre. Finally, all but the corner townhomes also have an over two-hundred square foot rooftop deck, thirty feet high and providing excellent views of the ConAgra fountain and Missouri River, in addition to the new pedestrian bridge. Tararget Market Although, ideal for young singles and empty-nesters, as are many of the new condominium developments in Downtown Omaha, this project also lends itself to young 14 ....1.0 • ,::::: *nil•- -- • -'177-i'v.-... ., . •. W) , , ....... 1,,, -;,., - - ,_ _ _ ..,•', ., . ,.. 1 . . •..., - -)- , • . tMilik.',...M.D. .• .. . - I!-:. •' ' ",••• •,,-• , • . . : :::'i, Mat--', - 1,130 '• LIZ_.0. )'' ••."-• 52,.., .:.. ,/.,.•-.. -.- ::-•- •••', •.'.( ..„ . .A;,..,;• . ,_ _ : :'" • :t ''' - ,'Af.,.24tev .::,,, ''•illiffs4:: 4r7 - -- w.R :'.i'>ff. "�� .'rf-.'. - -. '-l�j,'s ♦. ' n.4=f'•`r,at'-t: - a!'=y'� Magnum Realty,Inc i M 11550 I Street,Suite 200 MAG NIJM '" Omaha,NE 68137 (402)558 2200 • fax,(402)558 1998 REALTY , I N C I _. ..s..r'.w_a.w.-;,.., -*.n+.nu..—u4..441.1..!._,:.L......_.:,n".0.+:w.«Ss w._..--n.r-.....a:. x'.a..•s- .. a.A:G3.,4,::,- .a; I a'Q O M C '(p l0 N N 7 . > U- O y E I--d c> e C CD CD O 0 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 Ni I Q a0 X O sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr aN) I cr. C �� QQQQQQQQQQQQQQQQQQQQQQQQQQI 8 m a) ` I - C I 7 I J U O N C)75 W I • 1.; 1 C O O m . 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I 2CO u,u)i x Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Cr Q Q Q Q Q Q Q Q 0 I >m 8� '17 .- I (9 N N 1 7 `m m - I c (U C Q O o co co co co co co co co OD Co co Co co co CO co o co co co 0 0 co co co ao ao(D CO m CO 0 0 a)C) 0)a)a) CD a)0)Q) 0 a)0 a)a)a)a)0 a)0 0 0 to al a)0 a)a)O)a)A a) .-(0 r-n n r-n n n r-I-r-h n r I-n 1-r-n I-r-r- n I-I-I- I-I-I-0-I-n ciao ma)a)O CD Ca)ocr) O)a)a)Oa)0)0)a)0)0 a)a) a)a)a)0 O a)m of a)a) xx 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 00 (D F J 1 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 N Q to Ca . a) E 0 0 0 0• O O o 0 O 0 0 0 0 0 0 0 0 0 O o 0 0 O 0 0 0 O o o 0 0 (0 y O a)O a)a)a)a)COa)O a)CI)0 CI)0)0 0)O)O)O)a) a)0 0 a) a) N 0 1L- 3 O 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 8 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 a) y u- 1 NNNNNNNNNNNNN NNNN NNNN NNNNN O)!!)a 2° 8 F m IN (p Q Q Q Q Q Q Q Cr Q Cr Q Q Q Q Q Q Q Q Q sr sr sr sr sr sr sr C C a, m 1-3 ((C N C N 0 0 0 0 0 0 0 0 0 CD CD CD CD CD CD 0 0 0 0 0 0 0 CD 0 0 CD CD 0 0 0 CC €O F g U_ N O a) W O a 0,a) i 1I .(0 t C d n> J O. N O N 11 (n aI O W O . 27 a) >m i, it 9E'o� E U II N W J a) II 17 a) d '0'V W I .II r g N 2 a - 1 0 0 p o 0 o C)C)CO)O 0 0O)0)0)CD 0O) 0O)T 0)0O)0)CD T 0O)0)OO)0O) 0)0 0O)CO)CA 00) o f x c o 0. -O O C 0010000000000000000000000,00 0 U$2 N a)O 11 O N S2 O I N N N N N N N N N N N N N N N N c' N N N N N N N N C4 N U N C0 O 1 0 X g 1 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 C - 7 TO I Q N a A F O N ItQ Q sr sr sr sr Q sr sr Q Q Q Q Q sr Q sr Q Q Q Q Q sr sr Q 0 t0 7 0 > a) tQ.. I-> c0.. C j t0 )- E«O O a) C C O u) .-u)N(O el up sr up (0u)(D u)1-u)a0(0 a)(0 O u),-u)N u)C)u)Q(0 u) O V.'N t0 7 O 0 - N C) Q u) CO r` m O T O `- '-'C)`-99 ^ O C E a T a_ m w (Cp a 1 . U d c.I- a In Q a)U m 7 N Q . Z N (0 N U PRELIMINARY FINANCIALS Sources of Funds Loan $3,020,000 Estimated TIF $450,000 Owner's Equity $400,000 $3,870,000 Estimated Uses of Funds Hard Costs Acquisition $330,000 Construction Costs . Grading/Dirt work $85,000 Demolition $40,000 Concrete/Paving/Butters $30,000 Floors $35,000 Footings $25,000 Framing/Drywall _ $600,000 Electrical $300,000 Plumbing $250,000 Painting $60,000 Roofing $80,000 HVAC $250,000 Insulation $410,000 Furniture and Fixtures $100,000 $2,265,000 Construction Contingency(10%) $226,500 Soft Costs Surveys and Appraisals $15,000 Architect and Engineering Fees $104,300 Legal and Accounting Fees $40,000 Permits $8,000 Sewer and Water Fees $10,000 Landscaping $38,000 Signage $10,000 Marketing and Commissions $290,000 Development Fees $300,000 Taxes $5,000 Loan Costs and Interest $225,000 " $1,045,300 Total Expenses . $3,866,800 3 rement financing because without TIF there would be insufficient funds to complete the project and there would be a negative return on invested equity. However, with TIF there would be funds available sufficient to cover necessary debt service and repayment, operating expenses and provide an opportunity for an adequate return on invested equity. Thus, the project will not proceed without TIF. 2 ing and dining spaces are located on the second floor and feature a "Juliette balcony" off the living and dining rooms. The Juliette balcony is a set of French doors that open to the outside and are protected by a wrought-iron guard railing. The bedrooms will be on the third floor. Both bedrooms connect to a shared full bathroom. The master bedroom has a walk-in closet. The main living areas will feature ceramic floors and the cabinet doors will be made in Italy, with cabinet boxes designed by Eurowood of Omaha. The appliances will be GE with a black finish and the counter will be Corian with the option to upgrade to granite. The light fixtures will continue the Italian theme and be appropriate for the genre. Finally, all but the corner townhomes also have an over two-hundred square foot rooftop deck, thirty feet high and providing excellent views of the ConAgra fountain and Missouri River, in addition to the new pedestrian bridge. Tararget Market Although, ideal for young singles and empty-nesters, as are many of the new condominium developments in Downtown Omaha, this project also lends itself to young 14 ....1.0 • ,::::: *nil•- -- • -'177-i'v.-... ., . •. W) , , ....... 1,,, -;,., - - ,_ _ _ ..,•', ., . ,.. 1 . . •..., - -)- , • . tMilik.',...M.D. .• .. . - I!-:. •' ' ",••• •,,-• , • . . : :::'i, Mat--', - 1,130 '• LIZ_.0. )'' ••."-• 52,.., .:.. ,/.,.•-.. -.- ::-•- •••', •.'.( ..„ . .A;,..,;• . ,_ _ : :'" • :t ''' - ,'Af.,.24tev .::,,, ''•illiffs4:: 4r7 - -- w.R :'.i'>ff. "�� .'rf-.'. - -. '-l�j,'s ♦. ' n.4=f'•`r,at'-t: - a!'=y'� Magnum Realty,Inc i M 11550 I Street,Suite 200 MAG NIJM '" Omaha,NE 68137 (402)558 2200 • fax,(402)558 1998 REALTY , I N C I _. ..s..r'.w_a.w.-;,.., -*.n+.nu..—u4..441.1..!._,:.L......_.:,n".0.+:w.«Ss w._..--n.r-.....a:. x'.a..•s- .. a.A:G3.,4,::,- .a; I a'Q O M C '(p l0 N N 7 . > U- O y E I--d c> e C CD CD O 0 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 Ni I Q a0 X O sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr aN) I cr. C �� QQQQQQQQQQQQQQQQQQQQQQQQQQI 8 m a) ` I - C I 7 I J U O N C)75 W I • 1.; 1 C O O m . H e - I O)a N 1 I 3 y 0 0 0 0 Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q I 1 a)0 . CO co co co co co co co co co co co co co co co co co co co co co co co m co sr I c(D a) ( QQQQQQQQ QQQQQ QQQcr QQQQ QQQ sr sr r"-..r"-.. I 2CO u,u)i x Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Cr Q Q Q Q Q Q Q Q 0 I >m 8� '17 .- I (9 N N 1 7 `m m - I c (U C Q O o co co co co co co co co OD Co co Co co co CO co o co co co 0 0 co co co ao ao(D CO m CO 0 0 a)C) 0)a)a) CD a)0)Q) 0 a)0 a)a)a)a)0 a)0 0 0 to al a)0 a)a)O)a)A a) .-(0 r-n n r-n n n r-I-r-h n r I-n 1-r-n I-r-r- n I-I-I- I-I-I-0-I-n ciao ma)a)O CD Ca)ocr) O)a)a)Oa)0)0)a)0)0 a)a) a)a)a)0 O a)m of a)a) xx 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 00 (D F J 1 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 N Q to Ca . a) E 0 0 0 0• O O o 0 O 0 0 0 0 0 0 0 0 0 O o 0 0 O 0 0 0 O o o 0 0 (0 y O a)O a)a)a)a)COa)O a)CI)0 CI)0)0 0)O)O)O)a) a)0 0 a) a) N 0 1L- 3 O 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 8 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 a) y u- 1 NNNNNNNNNNNNN NNNN NNNN NNNNN O)!!)a 2° 8 F m IN (p Q Q Q Q Q Q Q Cr Q Cr Q Q Q Q Q Q Q Q Q sr sr sr sr sr sr sr C C a, m 1-3 ((C N C N 0 0 0 0 0 0 0 0 0 CD CD CD CD CD CD 0 0 0 0 0 0 0 CD 0 0 CD CD 0 0 0 CC €O F g U_ N O a) W O a 0,a) i 1I .(0 t C d n> J O. N O N 11 (n aI O W O . 27 a) >m i, it 9E'o� E U II N W J a) II 17 a) d '0'V W I .II r g N 2 a - 1 0 0 p o 0 o C)C)CO)O 0 0O)0)0)CD 0O) 0O)T 0)0O)0)CD T 0O)0)OO)0O) 0)0 0O)CO)CA 00) o f x c o 0. -O O C 0010000000000000000000000,00 0 U$2 N a)O 11 O N S2 O I N N N N N N N N N N N N N N N N c' N N N N N N N N C4 N U N C0 O 1 0 X g 1 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 C - 7 TO I Q N a A F O N ItQ Q sr sr sr sr Q sr sr Q Q Q Q Q sr Q sr Q Q Q Q Q sr sr Q 0 t0 7 0 > a) tQ.. I-> c0.. C j t0 )- E«O O a) C C O u) .-u)N(O el up sr up (0u)(D u)1-u)a0(0 a)(0 O u),-u)N u)C)u)Q(0 u) O V.'N t0 7 O 0 - N C) Q u) CO r` m O T O `- '-'C)`-99 ^ O C E a T a_ m w (Cp a 1 . U d c.I- a In Q a)U m 7 N Q . Z N (0 N U Projected revenue of 16 townhomes @ avg. $240,000 = $3,840,000. The financial information is based on estimates and is subject to change. The TIF proposed will be used to offset approved TIF eligible expenses. EVIDENCE THAT THE PROJECT MEETS EVALUATION CRITERIA The project meets the mandatory criteria set forth in the Tax Increment Financing Guidelines issued by the City of Omaha: MANDATORY CRITERIA: a. 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 project is located in an area designated as a substandard and blighted area. b. The project must further the objectives of the City's Comprehensive Plan. The project results in further development of a site, just south of the Old Market in. Downtown Omaha, which currently contains deteriorating buildings. The project is a continuation of current development of the area and will stimulate further revitalization of deteriorating areas south of the Old Market area. The project will create residential and commercial uses, with associated parking, increasing the tax base of the area and adding to the supply of quality residential, owner occupied housing in the area. The project will also result in the construction of new buildings in an infill area that currently produces little to no tax revenue, furthering the goals of the Master Plan. The project also serves to meet additional goals of the City's Master Plan by creating new development consistent with the character of older neighborhoods, while encouraging small enterprises, particularly those offering goods and services to neighborhood residents. c. 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 involves only the increase in taxes resulting from the improvements proposed by the developer. Previous tax revenues will continue to be paid, as they have in the past, to the City and other taxing jurisdictions. d. 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 that it would not occur in the area without TIF. As previously indicated, the project would not be economically feasible without the use of Tax Increment Financing. Without TIF, the developer will 4 n to the new pedestrian bridge. Tararget Market Although, ideal for young singles and empty-nesters, as are many of the new condominium developments in Downtown Omaha, this project also lends itself to young 14 ....1.0 • ,::::: *nil•- -- • -'177-i'v.-... ., . •. W) , , ....... 1,,, -;,., - - ,_ _ _ ..,•', ., . ,.. 1 . . •..., - -)- , • . tMilik.',...M.D. .• .. . - I!-:. •' ' ",••• •,,-• , • . . : :::'i, Mat--', - 1,130 '• LIZ_.0. )'' ••."-• 52,.., .:.. ,/.,.•-.. -.- ::-•- •••', •.'.( ..„ . .A;,..,;• . ,_ _ : :'" • :t ''' - ,'Af.,.24tev .::,,, ''•illiffs4:: 4r7 - -- w.R :'.i'>ff. "�� .'rf-.'. - -. '-l�j,'s ♦. ' n.4=f'•`r,at'-t: - a!'=y'� Magnum Realty,Inc i M 11550 I Street,Suite 200 MAG NIJM '" Omaha,NE 68137 (402)558 2200 • fax,(402)558 1998 REALTY , I N C I _. ..s..r'.w_a.w.-;,.., -*.n+.nu..—u4..441.1..!._,:.L......_.:,n".0.+:w.«Ss w._..--n.r-.....a:. x'.a..•s- .. a.A:G3.,4,::,- .a; I a'Q O M C '(p l0 N N 7 . > U- O y E I--d c> e C CD CD O 0 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 Ni I Q a0 X O sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr aN) I cr. C �� QQQQQQQQQQQQQQQQQQQQQQQQQQI 8 m a) ` I - C I 7 I J U O N C)75 W I • 1.; 1 C O O m . 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N O N 11 (n aI O W O . 27 a) >m i, it 9E'o� E U II N W J a) II 17 a) d '0'V W I .II r g N 2 a - 1 0 0 p o 0 o C)C)CO)O 0 0O)0)0)CD 0O) 0O)T 0)0O)0)CD T 0O)0)OO)0O) 0)0 0O)CO)CA 00) o f x c o 0. -O O C 0010000000000000000000000,00 0 U$2 N a)O 11 O N S2 O I N N N N N N N N N N N N N N N N c' N N N N N N N N C4 N U N C0 O 1 0 X g 1 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 C - 7 TO I Q N a A F O N ItQ Q sr sr sr sr Q sr sr Q Q Q Q Q sr Q sr Q Q Q Q Q sr sr Q 0 t0 7 0 > a) tQ.. I-> c0.. C j t0 )- E«O O a) C C O u) .-u)N(O el up sr up (0u)(D u)1-u)a0(0 a)(0 O u),-u)N u)C)u)Q(0 u) O V.'N t0 7 O 0 - N C) Q u) CO r` m O T O `- '-'C)`-99 ^ O C E a T a_ m w (Cp a 1 . U d c.I- a In Q a)U m 7 N Q . Z N (0 N U not have sufficient funds or be able to obtain the financing to complete the • project and the building will remain in its current state of deterioration. The project is located in an area that has been neglected in the recent revitalization of Downtown and will restore an aura of prosperity to an area that has experienced some deterioration in past years. This project involves new construction in an area that will stimulate the continued revitalization of areas beyond the Old Market. Given the unique nature and location of these - buildings, there are no site alternatives for the project. e. The project will eliminate an actual or potential hazard to the public. As a result of the project, a building, which has been deteriorating, will be demolished and replaced with new construction. The possibility of vandalism, fire and further structural deterioration, all associated with neglected and unoccupied urban property will be reduced or removed. DISCRETIONARY CRITERIA. As discussed below, the project meets several of the discretionary criteria set forth in the tax increment financing guidelines issued by the City - of Omaha and qualifies for a 15-year amortization period: a. Location. The project is located in an area designated as a substandard and blighted. b. Conditions of Blight. Some of the current buildings in the project area are substandard and reflect conditions of blight that constitutes an economic and social liability, detrimental to a neighborhood environment. c. Start up of entirely new business operation. Upon completion of the proposed improvements, an entirely new residential and commercial development consisting of owner occupied housing will result from substantially underused, substandard and vacant property. The property was not previously used for such purposes. As the project meets three discretionary criteria, the City's TIF Guidelines permit the use of TIF for the full 15-year amortization period as permitted by the Constitution of the State of Nebraska. ZONING AND LAND USE The rezoning of the project site from General Industrial (GI) to Neighborhood Business District (NBD) was approved by the City Council on December 5, 2006. The surrounding properties currently have a patchwork of zoning designations, such as R7, High Industrial, General Industrial and General Commercial, but are primarily residential in use. The neighborhood is in transition with other townhome redevelopment projects underway, and the project is compatible with the character of the neighborhood. 5 et Market Although, ideal for young singles and empty-nesters, as are many of the new condominium developments in Downtown Omaha, this project also lends itself to young 14 ....1.0 • ,::::: *nil•- -- • -'177-i'v.-... ., . •. W) , , ....... 1,,, -;,., - - ,_ _ _ ..,•', ., . ,.. 1 . . •..., - -)- , • . tMilik.',...M.D. .• .. . - I!-:. •' ' ",••• •,,-• , • . . : :::'i, Mat--', - 1,130 '• LIZ_.0. )'' ••."-• 52,.., .:.. ,/.,.•-.. -.- ::-•- •••', •.'.( ..„ . .A;,..,;• . ,_ _ : :'" • :t ''' - ,'Af.,.24tev .::,,, ''•illiffs4:: 4r7 - -- w.R :'.i'>ff. "�� .'rf-.'. - -. '-l�j,'s ♦. ' n.4=f'•`r,at'-t: - a!'=y'� Magnum Realty,Inc i M 11550 I Street,Suite 200 MAG NIJM '" Omaha,NE 68137 (402)558 2200 • fax,(402)558 1998 REALTY , I N C I _. ..s..r'.w_a.w.-;,.., -*.n+.nu..—u4..441.1..!._,:.L......_.:,n".0.+:w.«Ss w._..--n.r-.....a:. x'.a..•s- .. a.A:G3.,4,::,- .a; I a'Q O M C '(p l0 N N 7 . > U- O y E I--d c> e C CD CD O 0 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 Ni I Q a0 X O sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr aN) I cr. C �� QQQQQQQQQQQQQQQQQQQQQQQQQQI 8 m a) ` I - C I 7 I J U O N C)75 W I • 1.; 1 C O O m . 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I 2CO u,u)i x Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Cr Q Q Q Q Q Q Q Q 0 I >m 8� '17 .- I (9 N N 1 7 `m m - I c (U C Q O o co co co co co co co co OD Co co Co co co CO co o co co co 0 0 co co co ao ao(D CO m CO 0 0 a)C) 0)a)a) CD a)0)Q) 0 a)0 a)a)a)a)0 a)0 0 0 to al a)0 a)a)O)a)A a) .-(0 r-n n r-n n n r-I-r-h n r I-n 1-r-n I-r-r- n I-I-I- I-I-I-0-I-n ciao ma)a)O CD Ca)ocr) O)a)a)Oa)0)0)a)0)0 a)a) a)a)a)0 O a)m of a)a) xx 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 00 (D F J 1 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 N Q to Ca . a) E 0 0 0 0• O O o 0 O 0 0 0 0 0 0 0 0 0 O o 0 0 O 0 0 0 O o o 0 0 (0 y O a)O a)a)a)a)COa)O a)CI)0 CI)0)0 0)O)O)O)a) a)0 0 a) a) N 0 1L- 3 O 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 8 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 a) y u- 1 NNNNNNNNNNNNN NNNN NNNN NNNNN O)!!)a 2° 8 F m IN (p Q Q Q Q Q Q Q Cr Q Cr Q Q Q Q Q Q Q Q Q sr sr sr sr sr sr sr C C a, m 1-3 ((C N C N 0 0 0 0 0 0 0 0 0 CD CD CD CD CD CD 0 0 0 0 0 0 0 CD 0 0 CD CD 0 0 0 CC €O F g U_ N O a) W O a 0,a) i 1I .(0 t C d n> J O. N O N 11 (n aI O W O . 27 a) >m i, it 9E'o� E U II N W J a) II 17 a) d '0'V W I .II r g N 2 a - 1 0 0 p o 0 o C)C)CO)O 0 0O)0)0)CD 0O) 0O)T 0)0O)0)CD T 0O)0)OO)0O) 0)0 0O)CO)CA 00) o f x c o 0. -O O C 0010000000000000000000000,00 0 U$2 N a)O 11 O N S2 O I N N N N N N N N N N N N N N N N c' N N N N N N N N C4 N U N C0 O 1 0 X g 1 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 C - 7 TO I Q N a A F O N ItQ Q sr sr sr sr Q sr sr Q Q Q Q Q sr Q sr Q Q Q Q Q sr sr Q 0 t0 7 0 > a) tQ.. I-> c0.. C j t0 )- E«O O a) C C O u) .-u)N(O el up sr up (0u)(D u)1-u)a0(0 a)(0 O u),-u)N u)C)u)Q(0 u) O V.'N t0 7 O 0 - N C) Q u) CO r` m O T O `- '-'C)`-99 ^ O C E a T a_ m w (Cp a 1 . U d c.I- a In Q a)U m 7 N Q . Z N (0 N U The proposed project has been reviewed for compliance with existing zoning regulations and is out of compliance. The proposed project plan is being recommended for approval. conditioned on the developer getting approval for the required waivers. The department will support the request for waivers of some of the zoning regulations, as this is an excellent infill housing development that compliments other related improvements in the area, as well as the developer redesigned the project based on guidance from the department. UTILITIES AND INFRASTRUCTURE Gas, water and electric utilities and sewers serve the project site. The developer will be responsible for any new utility leads onto the site. Metro Area Transit services this site. BLIGHT AND SUBSTANDARD CONDITIONS The project site is designated as blighted and substandard. Based on the 2000 Census, the median year of construction of housing structures in this census tract is 1940 and median income is $6,391 below the median income for the City. The current buildings display conditions of blight as obsolete structures for contemporary uses. COST-BENEFIT ANALYSIS The request meets the necessary requirements for consideration. The site is in an area that meets the requirements to be declared Blighted and Substandard. The TIF proceeds are to be used to cover all public improvement cost with the remaining balance of the TIF to be used for project specific eligible cost. The proposed TIF will be used to offset acquisition, demolition and to defray site development costs that are eligible activities. The site is partially vacant with a few deteriorating buildings having marginal tax value, as the property has declined in assessed value. The project will bring new residential housing to fill the gap in the market based on the pricing of current condo conversions in Downtown Omaha. The site is not being utilized at the fullest and best economic use, as the current building is usable for residential purposes. The use of TIF will not result in tax shifts. The current level of taxes will continue to flow to the current taxing entities and only the increased value of revenues resulting from the improvements will be applied to the cost of the improvement. No community public service need will be generated as a result of this project. The development of this site will provide employment by increasing the demand for personal services and employees to provide these services. This development will impact other businesses, as there will be an increase in the demand for employees to fill the employment opportunities created by this development. The elimination for the blight 6 ingles and empty-nesters, as are many of the new condominium developments in Downtown Omaha, this project also lends itself to young 14 ....1.0 • ,::::: *nil•- -- • -'177-i'v.-... ., . •. W) , , ....... 1,,, -;,., - - ,_ _ _ ..,•', ., . ,.. 1 . . •..., - -)- , • . tMilik.',...M.D. .• .. . - I!-:. •' ' ",••• •,,-• , • . . : :::'i, Mat--', - 1,130 '• LIZ_.0. )'' ••."-• 52,.., .:.. ,/.,.•-.. -.- ::-•- •••', •.'.( ..„ . .A;,..,;• . ,_ _ : :'" • :t ''' - ,'Af.,.24tev .::,,, ''•illiffs4:: 4r7 - -- w.R :'.i'>ff. "�� .'rf-.'. - -. '-l�j,'s ♦. ' n.4=f'•`r,at'-t: - a!'=y'� Magnum Realty,Inc i M 11550 I Street,Suite 200 MAG NIJM '" Omaha,NE 68137 (402)558 2200 • fax,(402)558 1998 REALTY , I N C I _. ..s..r'.w_a.w.-;,.., -*.n+.nu..—u4..441.1..!._,:.L......_.:,n".0.+:w.«Ss w._..--n.r-.....a:. x'.a..•s- .. a.A:G3.,4,::,- .a; I a'Q O M C '(p l0 N N 7 . > U- O y E I--d c> e C CD CD O 0 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 Ni I Q a0 X O sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr aN) I cr. C �� QQQQQQQQQQQQQQQQQQQQQQQQQQI 8 m a) ` I - C I 7 I J U O N C)75 W I • 1.; 1 C O O m . 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I 2CO u,u)i x Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Cr Q Q Q Q Q Q Q Q 0 I >m 8� '17 .- I (9 N N 1 7 `m m - I c (U C Q O o co co co co co co co co OD Co co Co co co CO co o co co co 0 0 co co co ao ao(D CO m CO 0 0 a)C) 0)a)a) CD a)0)Q) 0 a)0 a)a)a)a)0 a)0 0 0 to al a)0 a)a)O)a)A a) .-(0 r-n n r-n n n r-I-r-h n r I-n 1-r-n I-r-r- n I-I-I- I-I-I-0-I-n ciao ma)a)O CD Ca)ocr) O)a)a)Oa)0)0)a)0)0 a)a) a)a)a)0 O a)m of a)a) xx 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 00 (D F J 1 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 N Q to Ca . a) E 0 0 0 0• O O o 0 O 0 0 0 0 0 0 0 0 0 O o 0 0 O 0 0 0 O o o 0 0 (0 y O a)O a)a)a)a)COa)O a)CI)0 CI)0)0 0)O)O)O)a) a)0 0 a) a) N 0 1L- 3 O 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 8 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 a) y u- 1 NNNNNNNNNNNNN NNNN NNNN NNNNN O)!!)a 2° 8 F m IN (p Q Q Q Q Q Q Q Cr Q Cr Q Q Q Q Q Q Q Q Q sr sr sr sr sr sr sr C C a, m 1-3 ((C N C N 0 0 0 0 0 0 0 0 0 CD CD CD CD CD CD 0 0 0 0 0 0 0 CD 0 0 CD CD 0 0 0 CC €O F g U_ N O a) W O a 0,a) i 1I .(0 t C d n> J O. N O N 11 (n aI O W O . 27 a) >m i, it 9E'o� E U II N W J a) II 17 a) d '0'V W I .II r g N 2 a - 1 0 0 p o 0 o C)C)CO)O 0 0O)0)0)CD 0O) 0O)T 0)0O)0)CD T 0O)0)OO)0O) 0)0 0O)CO)CA 00) o f x c o 0. -O O C 0010000000000000000000000,00 0 U$2 N a)O 11 O N S2 O I N N N N N N N N N N N N N N N N c' N N N N N N N N C4 N U N C0 O 1 0 X g 1 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 C - 7 TO I Q N a A F O N ItQ Q sr sr sr sr Q sr sr Q Q Q Q Q sr Q sr Q Q Q Q Q sr sr Q 0 t0 7 0 > a) tQ.. I-> c0.. C j t0 )- E«O O a) C C O u) .-u)N(O el up sr up (0u)(D u)1-u)a0(0 a)(0 O u),-u)N u)C)u)Q(0 u) O V.'N t0 7 O 0 - N C) Q u) CO r` m O T O `- '-'C)`-99 ^ O C E a T a_ m w (Cp a 1 . U d c.I- a In Q a)U m 7 N Q . Z N (0 N U and substandard conditions and the provision of new housing that will increase employment opportunities will increase economic opportunities. The development will cause an increase in traffic in the area; however, the current street system is able to accommodate the project. The creation of new housing opportunities, the creation of new employment opportunities and the increased demand for goods and services justify the cost associated with the project. The long-term benefits resulting from the elimination of the blighted and substandard conditions and the increase in the tax base resulting from the development are other valid justifications to provide assistance to the project. PUBLIC IMPROVEMENTS TO BE INCORPORATED IN PROJECT The project as currently proposed does not include any additional public improvements, except those that may be required by the city of Omaha. PROJECT SITE AND BUILDING PLANS/DEVELOPMENT SCHEDULE Contingent upon approval of the T1F request, the developer is prepared to proceed with the project. Project plans and specifications have been prepared. A project schedule has been set. If TIF is approved, construction could commence as early as March, 2007 and be complete by the end of Spring, 2008. 7 e declared Blighted and Substandard. The TIF proceeds are to be used to cover all public improvement cost with the remaining balance of the TIF to be used for project specific eligible cost. The proposed TIF will be used to offset acquisition, demolition and to defray site development costs that are eligible activities. The site is partially vacant with a few deteriorating buildings having marginal tax value, as the property has declined in assessed value. The project will bring new residential housing to fill the gap in the market based on the pricing of current condo conversions in Downtown Omaha. The site is not being utilized at the fullest and best economic use, as the current building is usable for residential purposes. The use of TIF will not result in tax shifts. The current level of taxes will continue to flow to the current taxing entities and only the increased value of revenues resulting from the improvements will be applied to the cost of the improvement. No community public service need will be generated as a result of this project. The development of this site will provide employment by increasing the demand for personal services and employees to provide these services. This development will impact other businesses, as there will be an increase in the demand for employees to fill the employment opportunities created by this development. The elimination for the blight 6 ingles and empty-nesters, as are many of the new condominium developments in Downtown Omaha, this project also lends itself to young 14 ....1.0 • ,::::: *nil•- -- • -'177-i'v.-... ., . •. W) , , ....... 1,,, -;,., - - ,_ _ _ ..,•', ., . ,.. 1 . . •..., - -)- , • . tMilik.',...M.D. .• .. . - I!-:. •' ' ",••• •,,-• , • . . : :::'i, Mat--', - 1,130 '• LIZ_.0. )'' ••."-• 52,.., .:.. ,/.,.•-.. -.- ::-•- •••', •.'.( ..„ . .A;,..,;• . ,_ _ : :'" • :t ''' - ,'Af.,.24tev .::,,, ''•illiffs4:: 4r7 - -- w.R :'.i'>ff. "�� .'rf-.'. - -. '-l�j,'s ♦. ' n.4=f'•`r,at'-t: - a!'=y'� Magnum Realty,Inc i M 11550 I Street,Suite 200 MAG NIJM '" Omaha,NE 68137 (402)558 2200 • fax,(402)558 1998 REALTY , I N C I _. ..s..r'.w_a.w.-;,.., -*.n+.nu..—u4..441.1..!._,:.L......_.:,n".0.+:w.«Ss w._..--n.r-.....a:. x'.a..•s- .. a.A:G3.,4,::,- .a; I a'Q O M C '(p l0 N N 7 . > U- O y E I--d c> e C CD CD O 0 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 Ni I Q a0 X O sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr aN) I cr. C �� QQQQQQQQQQQQQQQQQQQQQQQQQQI 8 m a) ` I - C I 7 I J U O N C)75 W I • 1.; 1 C O O m . H e - I O)a N 1 I 3 y 0 0 0 0 Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q I 1 a)0 . CO co co co co co co co co co co co co co co co co co co co co co co co m co sr I c(D a) ( QQQQQQQQ QQQQQ QQQcr QQQQ QQQ sr sr r"-..r"-.. I 2CO u,u)i x Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Cr Q Q Q Q Q Q Q Q 0 I >m 8� '17 .- I (9 N N 1 7 `m m - I c (U C Q O o co co co co co co co co OD Co co Co co co CO co o co co co 0 0 co co co ao ao(D CO m CO 0 0 a)C) 0)a)a) CD a)0)Q) 0 a)0 a)a)a)a)0 a)0 0 0 to al a)0 a)a)O)a)A a) .-(0 r-n n r-n n n r-I-r-h n r I-n 1-r-n I-r-r- n I-I-I- I-I-I-0-I-n ciao ma)a)O CD Ca)ocr) O)a)a)Oa)0)0)a)0)0 a)a) a)a)a)0 O a)m of a)a) xx 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 00 (D F J 1 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 N Q to Ca . a) E 0 0 0 0• O O o 0 O 0 0 0 0 0 0 0 0 0 O o 0 0 O 0 0 0 O o o 0 0 (0 y O a)O a)a)a)a)COa)O a)CI)0 CI)0)0 0)O)O)O)a) a)0 0 a) a) N 0 1L- 3 O 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 8 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 a) y u- 1 NNNNNNNNNNNNN NNNN NNNN NNNNN O)!!)a 2° 8 F m IN (p Q Q Q Q Q Q Q Cr Q Cr Q Q Q Q Q Q Q Q Q sr sr sr sr sr sr sr C C a, m 1-3 ((C N C N 0 0 0 0 0 0 0 0 0 CD CD CD CD CD CD 0 0 0 0 0 0 0 CD 0 0 CD CD 0 0 0 CC €O F g U_ N O a) W O a 0,a) i 1I .(0 t C d n> J O. N O N 11 (n aI O W O . 27 a) >m i, it 9E'o� E U II N W J a) II 17 a) d '0'V W I .II r g N 2 a - 1 0 0 p o 0 o C)C)CO)O 0 0O)0)0)CD 0O) 0O)T 0)0O)0)CD T 0O)0)OO)0O) 0)0 0O)CO)CA 00) o f x c o 0. -O O C 0010000000000000000000000,00 0 U$2 N a)O 11 O N S2 O I N N N N N N N N N N N N N N N N c' N N N N N N N N C4 N U N C0 O 1 0 X g 1 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 C - 7 TO I Q N a A F O N ItQ Q sr sr sr sr Q sr sr Q Q Q Q Q sr Q sr Q Q Q Q Q sr sr Q 0 t0 7 0 > a) tQ.. I-> c0.. C j t0 )- E«O O a) C C O u) .-u)N(O el up sr up (0u)(D u)1-u)a0(0 a)(0 O u),-u)N u)C)u)Q(0 u) O V.'N t0 7 O 0 - N C) Q u) CO r` m O T O `- '-'C)`-99 ^ O C E a T a_ m w (Cp a 1 . U d c.I- a In Q a)U m 7 N Q . Z N (0 N U EXHIBIT A LEGAL DESCRPTION PARCEL 1 LOT 1, BLOCK 265, ORIGINAL CITY OF OMAHA, DOUGLAS COUNTY, NEBRASKA, TOGETHER WITH 15 FEET OF VACATED PIERCE STREET ADJOINING ON THE NORTH AND 20 FEET OF VACATED 6TH STREET ADJOINING ON THE EAST. PARCEL 2 LOT 4, BLOCK 266, ORIGINAL CITY OF OMAHA, DOUGLAS COUNTY, NEBRASKA, TOGETHER WITH 15 FEET OF VACATED PIERCE STREET ADJOINING ON THE NORTH AND 20 FEET OF VACATED 6TH STREET ADJOINING ON THE WEST. 8 Ilk' isiR7 R7 GI R7 sv R Po• •Teton 2111 R7 R7 LRT1 7 R7 R7 R7 R7 G ------, s I I I id0 200 Feet A v J' Clerk //11407 Approved Mayor 0,AI'ING MADE ?� 1)/\TE MAILED_ 4 5/ 6 7 5 EXHIBIT B SURVEYS 9 LOT 1, BLOCK 265, ORIGINAL CITY OF OMAHA, DOUGLAS COUNTY, NEBRASKA, TOGETHER WITH 15 FEET OF VACATED PIERCE STREET ADJOINING ON THE NORTH AND 20 FEET OF VACATED 6TH STREET ADJOINING ON THE EAST. PARCEL 2 LOT 4, BLOCK 266, ORIGINAL CITY OF OMAHA, DOUGLAS COUNTY, NEBRASKA, TOGETHER WITH 15 FEET OF VACATED PIERCE STREET ADJOINING ON THE NORTH AND 20 FEET OF VACATED 6TH STREET ADJOINING ON THE WEST. 8 Ilk' isiR7 R7 GI R7 sv R Po• •Teton 2111 R7 R7 LRT1 7 R7 R7 R7 R7 G ------, s I I I id0 200 Feet A v J' Clerk //11407 Approved Mayor 0,AI'ING MADE ?� 1)/\TE MAILED_ 4 5/ 6 7 5 1111 E.i7H STREET ill IN $" /' e e' P 1 II g) , f.4.4* ..,.:1_...4 poikilli. ..ormiii, . , ...1i , . : ._. ,, ._:::-", _t--rA _...t -vink ;_-_ - . ,_.-. yL -s- 3 ... gb g I 0 •OOl 1S_ . S `r•i- T,°°QI r C. arm g yy O 'o /= I:.. i3.30.4 8' %4 1r, .*,,. 4 ng _I 1 jj 11 L i ) 0111; •6il J. _war ,...4,... 4.........,....__ _i___...14-ait . 0 # ,,,k.s. ,, I1147,OG'P6S Ni*1 At'I E g aA. Es D^: p O 01 10 G ------, s I I I id0 200 Feet A v J' Clerk //11407 Approved Mayor 0,AI'ING MADE ?� 1)/\TE MAILED_ 4 5/ 6 7 5 54 15 1 1 $ f 1 1 4 ----z-, ! I NO0'10'38"E 0 i 47.28'M 200 I 9 I i .-- * , , .0,1iI__.,..'1'. Ilk, .... al 1 t 2 12,19 4 ) ;LI i M° IA obi 1 I 7 ic; '1' < 45 Alptil — xi 2 ‘,, I ik / r-_ -i (i) ti 0=.... goo • r- oaP: i a:, 4 ; ja _i 01 . .. - 1 1 gi, A (00i 2.. . ,,,,,, 2.. ...... Ait 1 I. 0.- tit".4 ELL•I ,..1111 —1.111111-1111111111.1.1.-- 0 L '.:SI $ 1: -.E. .1 Q tt t ‘ 4 . . N N • :g / : L.L.z.--,....,smi .1_-_--= u t.:=..-Nut 1--=.111 ;1:<,%—=_MIt • i:// 2 „.. --—T.- ..L.,.:-..n`... ....:=1::..„,_....:........ - 719 • • roll '-',6,4:-% __ .--......,,,;,...m.,,:..,....0 .-.A........a...-.Amr. DIE S. STR STREET ill ill • \' g6 11 public improvement cost with the remaining balance of the TIF to be used for project specific eligible cost. The proposed TIF will be used to offset acquisition, demolition and to defray site development costs that are eligible activities. The site is partially vacant with a few deteriorating buildings having marginal tax value, as the property has declined in assessed value. The project will bring new residential housing to fill the gap in the market based on the pricing of current condo conversions in Downtown Omaha. The site is not being utilized at the fullest and best economic use, as the current building is usable for residential purposes. The use of TIF will not result in tax shifts. The current level of taxes will continue to flow to the current taxing entities and only the increased value of revenues resulting from the improvements will be applied to the cost of the improvement. No community public service need will be generated as a result of this project. The development of this site will provide employment by increasing the demand for personal services and employees to provide these services. This development will impact other businesses, as there will be an increase in the demand for employees to fill the employment opportunities created by this development. The elimination for the blight 6 ingles and empty-nesters, as are many of the new condominium developments in Downtown Omaha, this project also lends itself to young 14 ....1.0 • ,::::: *nil•- -- • -'177-i'v.-... ., . •. W) , , ....... 1,,, -;,., - - ,_ _ _ ..,•', ., . ,.. 1 . . •..., - -)- , • . tMilik.',...M.D. .• .. . - I!-:. •' ' ",••• •,,-• , • . . : :::'i, Mat--', - 1,130 '• LIZ_.0. )'' ••."-• 52,.., .:.. ,/.,.•-.. -.- ::-•- •••', •.'.( ..„ . .A;,..,;• . ,_ _ : :'" • :t ''' - ,'Af.,.24tev .::,,, ''•illiffs4:: 4r7 - -- w.R :'.i'>ff. "�� .'rf-.'. - -. '-l�j,'s ♦. ' n.4=f'•`r,at'-t: - a!'=y'� Magnum Realty,Inc i M 11550 I Street,Suite 200 MAG NIJM '" Omaha,NE 68137 (402)558 2200 • fax,(402)558 1998 REALTY , I N C I _. ..s..r'.w_a.w.-;,.., -*.n+.nu..—u4..441.1..!._,:.L......_.:,n".0.+:w.«Ss w._..--n.r-.....a:. x'.a..•s- .. a.A:G3.,4,::,- .a; I a'Q O M C '(p l0 N N 7 . > U- O y E I--d c> e C CD CD O 0 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 Ni I Q a0 X O sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr aN) I cr. C �� QQQQQQQQQQQQQQQQQQQQQQQQQQI 8 m a) ` I - C I 7 I J U O N C)75 W I • 1.; 1 C O O m . H e - I O)a N 1 I 3 y 0 0 0 0 Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q I 1 a)0 . CO co co co co co co co co co co co co co co co co co co co co co co co m co sr I c(D a) ( QQQQQQQQ QQQQQ QQQcr QQQQ QQQ sr sr r"-..r"-.. I 2CO u,u)i x Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Cr Q Q Q Q Q Q Q Q 0 I >m 8� '17 .- I (9 N N 1 7 `m m - I c (U C Q O o co co co co co co co co OD Co co Co co co CO co o co co co 0 0 co co co ao ao(D CO m CO 0 0 a)C) 0)a)a) CD a)0)Q) 0 a)0 a)a)a)a)0 a)0 0 0 to al a)0 a)a)O)a)A a) .-(0 r-n n r-n n n r-I-r-h n r I-n 1-r-n I-r-r- n I-I-I- I-I-I-0-I-n ciao ma)a)O CD Ca)ocr) O)a)a)Oa)0)0)a)0)0 a)a) a)a)a)0 O a)m of a)a) xx 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 00 (D F J 1 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 N Q to Ca . a) E 0 0 0 0• O O o 0 O 0 0 0 0 0 0 0 0 0 O o 0 0 O 0 0 0 O o o 0 0 (0 y O a)O a)a)a)a)COa)O a)CI)0 CI)0)0 0)O)O)O)a) a)0 0 a) a) N 0 1L- 3 O 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 8 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 a) y u- 1 NNNNNNNNNNNNN NNNN NNNN NNNNN O)!!)a 2° 8 F m IN (p Q Q Q Q Q Q Q Cr Q Cr Q Q Q Q Q Q Q Q Q sr sr sr sr sr sr sr C C a, m 1-3 ((C N C N 0 0 0 0 0 0 0 0 0 CD CD CD CD CD CD 0 0 0 0 0 0 0 CD 0 0 CD CD 0 0 0 CC €O F g U_ N O a) W O a 0,a) i 1I .(0 t C d n> J O. N O N 11 (n aI O W O . 27 a) >m i, it 9E'o� E U II N W J a) II 17 a) d '0'V W I .II r g N 2 a - 1 0 0 p o 0 o C)C)CO)O 0 0O)0)0)CD 0O) 0O)T 0)0O)0)CD T 0O)0)OO)0O) 0)0 0O)CO)CA 00) o f x c o 0. -O O C 0010000000000000000000000,00 0 U$2 N a)O 11 O N S2 O I N N N N N N N N N N N N N N N N c' N N N N N N N N C4 N U N C0 O 1 0 X g 1 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 C - 7 TO I Q N a A F O N ItQ Q sr sr sr sr Q sr sr Q Q Q Q Q sr Q sr Q Q Q Q Q sr sr Q 0 t0 7 0 > a) tQ.. I-> c0.. C j t0 )- E«O O a) C C O u) .-u)N(O el up sr up (0u)(D u)1-u)a0(0 a)(0 O u),-u)N u)C)u)Q(0 u) O V.'N t0 7 O 0 - N C) Q u) CO r` m O T O `- '-'C)`-99 ^ O C E a T a_ m w (Cp a 1 . U d c.I- a In Q a)U m 7 N Q . Z N (0 N U EXHIBIT C EXTERIOR ELEVATION 12 e e' P 1 II g) , f.4.4* ..,.:1_...4 poikilli. ..ormiii, . , ...1i , . : ._. ,, ._:::-", _t--rA _...t -vink ;_-_ - . ,_.-. yL -s- 3 ... gb g I 0 •OOl 1S_ . S `r•i- T,°°QI r C. arm g yy O 'o /= I:.. i3.30.4 8' %4 1r, .*,,. 4 ng _I 1 jj 11 L i ) 0111; •6il J. _war ,...4,... 4.........,....__ _i___...14-ait . 0 # ,,,k.s. ,, I1147,OG'P6S Ni*1 At'I E g aA. Es D^: p O 01 10 G ------, s I I I id0 200 Feet A v J' Clerk //11407 Approved Mayor 0,AI'ING MADE ?� 1)/\TE MAILED_ 4 5/ 6 7 5 I a8 $3 8 sx o a�^ 4� 4� 4 a (4m .. va vo va .a141 •.. j J A A m e ,i a p ICJ int ilk V I v "V. a 14 w1-ml0 ® ® e Z i (]l m ' r`aI�II I ; ,,ill -: __ ' ow i9-_Im II p II a, S.8TH STREET III g= MI !DI I f) J ) IIII ® , — SmFmk f ,714----7 .'t 1 , . .-. 3 o _If INSPIN Z =° — ;i ! i'.,07.S' '', .,1- A, ',:k ii I' I' „,, �pc o lei I 5 O 0 -1 =m '° ' b __ I O� Ca <IL01 III III i C� O I®1 MIMIC [ O ..7I ® � ��p� g 1 HH4.� °�� , �I�11� p • Ioi Io1 III /// 1 MI • Prill a ,.(..�I'..I ..-I. I,. 1'l 1 '" ,e---,_,....,,„_._ ..„r„,,, •....,____ _ eaii a I 'MI V MI , I III II IIIIIIII 1'�i- L N all a — — �o —AI aAi e r a ; I a o _ 20 -I a -I ( I 4,1 I s e 0 0 ,.i 4 I I G n I 1 { , 0 0 —�B T p- m �8 4.�Px y CONSTRUCTION DOCUMENTS FOR. _� F 3' < 6ih ¢m! 4 : �ig 1 el E y@y@a GIOVANNA ROWSzi r xc. 1 8 dB fi6iLi$5� g 6TH 4 PIERCE. ' y 's f!'!,i'e g OMAHA,NE ill ntown Omaha. The site is not being utilized at the fullest and best economic use, as the current building is usable for residential purposes. The use of TIF will not result in tax shifts. The current level of taxes will continue to flow to the current taxing entities and only the increased value of revenues resulting from the improvements will be applied to the cost of the improvement. No community public service need will be generated as a result of this project. The development of this site will provide employment by increasing the demand for personal services and employees to provide these services. This development will impact other businesses, as there will be an increase in the demand for employees to fill the employment opportunities created by this development. The elimination for the blight 6 ingles and empty-nesters, as are many of the new condominium developments in Downtown Omaha, this project also lends itself to young 14 ....1.0 • ,::::: *nil•- -- • -'177-i'v.-... ., . •. W) , , ....... 1,,, -;,., - - ,_ _ _ ..,•', ., . ,.. 1 . . •..., - -)- , • . tMilik.',...M.D. .• .. . - I!-:. •' ' ",••• •,,-• , • . . : :::'i, Mat--', - 1,130 '• LIZ_.0. )'' ••."-• 52,.., .:.. ,/.,.•-.. -.- ::-•- •••', •.'.( ..„ . .A;,..,;• . ,_ _ : :'" • :t ''' - ,'Af.,.24tev .::,,, ''•illiffs4:: 4r7 - -- w.R :'.i'>ff. "�� .'rf-.'. - -. '-l�j,'s ♦. ' n.4=f'•`r,at'-t: - a!'=y'� Magnum Realty,Inc i M 11550 I Street,Suite 200 MAG NIJM '" Omaha,NE 68137 (402)558 2200 • fax,(402)558 1998 REALTY , I N C I _. ..s..r'.w_a.w.-;,.., -*.n+.nu..—u4..441.1..!._,:.L......_.:,n".0.+:w.«Ss w._..--n.r-.....a:. x'.a..•s- .. a.A:G3.,4,::,- .a; I a'Q O M C '(p l0 N N 7 . > U- O y E I--d c> e C CD CD O 0 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 Ni I Q a0 X O sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr aN) I cr. C �� QQQQQQQQQQQQQQQQQQQQQQQQQQI 8 m a) ` I - C I 7 I J U O N C)75 W I • 1.; 1 C O O m . H e - I O)a N 1 I 3 y 0 0 0 0 Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q I 1 a)0 . CO co co co co co co co co co co co co co co co co co co co co co co co m co sr I c(D a) ( QQQQQQQQ QQQQQ QQQcr QQQQ QQQ sr sr r"-..r"-.. I 2CO u,u)i x Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Cr Q Q Q Q Q Q Q Q 0 I >m 8� '17 .- I (9 N N 1 7 `m m - I c (U C Q O o co co co co co co co co OD Co co Co co co CO co o co co co 0 0 co co co ao ao(D CO m CO 0 0 a)C) 0)a)a) CD a)0)Q) 0 a)0 a)a)a)a)0 a)0 0 0 to al a)0 a)a)O)a)A a) .-(0 r-n n r-n n n r-I-r-h n r I-n 1-r-n I-r-r- n I-I-I- I-I-I-0-I-n ciao ma)a)O CD Ca)ocr) O)a)a)Oa)0)0)a)0)0 a)a) a)a)a)0 O a)m of a)a) xx 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 00 (D F J 1 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 N Q to Ca . a) E 0 0 0 0• O O o 0 O 0 0 0 0 0 0 0 0 0 O o 0 0 O 0 0 0 O o o 0 0 (0 y O a)O a)a)a)a)COa)O a)CI)0 CI)0)0 0)O)O)O)a) a)0 0 a) a) N 0 1L- 3 O 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 8 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 a) y u- 1 NNNNNNNNNNNNN NNNN NNNN NNNNN O)!!)a 2° 8 F m IN (p Q Q Q Q Q Q Q Cr Q Cr Q Q Q Q Q Q Q Q Q sr sr sr sr sr sr sr C C a, m 1-3 ((C N C N 0 0 0 0 0 0 0 0 0 CD CD CD CD CD CD 0 0 0 0 0 0 0 CD 0 0 CD CD 0 0 0 CC €O F g U_ N O a) W O a 0,a) i 1I .(0 t C d n> J O. N O N 11 (n aI O W O . 27 a) >m i, it 9E'o� E U II N W J a) II 17 a) d '0'V W I .II r g N 2 a - 1 0 0 p o 0 o C)C)CO)O 0 0O)0)0)CD 0O) 0O)T 0)0O)0)CD T 0O)0)OO)0O) 0)0 0O)CO)CA 00) o f x c o 0. -O O C 0010000000000000000000000,00 0 U$2 N a)O 11 O N S2 O I N N N N N N N N N N N N N N N N c' N N N N N N N N C4 N U N C0 O 1 0 X g 1 N N N N N N N N N N N N N N N N N N N N N N N N N N C - 7 TO I Q N a A F O N ItQ Q sr sr sr sr Q sr sr Q Q Q Q Q sr Q sr Q Q Q Q Q sr sr Q 0 t0 7 0 > a) tQ.. I-> c0.. C j t0 )- E«O O a) C C O u) .-u)N(O el up sr up (0u)(D u)1-u)a0(0 a)(0 O u),-u)N u)C)u)Q(0 u) O V.'N t0 7 O 0 - N C) Q u) CO r` m O T O `- '-'C)`-99 ^ O C E a T a_ m w (Cp a 1 . U d c.I- a In Q a)U m 7 N Q . Z N (0 N U ., b 1 fl Do 1 I Fy! T o< mm r b • Ai W ' 6 517 Ift ie °'i ie 4 °y /ro '.4. . ,' 'xaxrc xa.uxn, u.c�,:.»��z.x:.s>«-s. .r•., aa..ea�' - s: irm x• -xw.m--.R. .=cow i 4 �a� g i I Q-I Qai WEI7' lig, II a — 1: a s Q - ...tea S � 'r- d s vy -9-,2 g ,1,, _ : 4 =� 5 (mj09_ ,,,iim ■■■O b SA I m sm O b _ s 0E 2 4./ I 2r. = — -''' 4 a • oJi 41 o=• °ea ,o .e ° N4 4. X 2 Y g F i% CONSTRUCTION DOCUMENTS FOR: A - a$DP a lfry'9e 1 ;z GIOVANNA ROWS ii. '� g. =miv ii;v-11 i an _.FrR da < 6TH t PIERCE. g p, = 4 �.`u g OMAHA,NE II — — �o —AI aAi e r a ; I a o _ 20 -I a -I ( I 4,1 I s e 0 0 ,.i 4 I I G n I 1 { , 0 0 —�B T p- m �8 4.�Px y CONSTRUCTION DOCUMENTS FOR. _� F 3' < 6ih ¢m! 4 : �ig 1 el E y@y@a GIOVANNA ROWSzi r xc. 1 8 dB fi6iLi$5� g 6TH 4 PIERCE. ' y 's f!'!,i'e g OMAHA,NE ill ntown Omaha. The site is not being utilized at the fullest and best economic use, as the current building is usable for residential purposes. The use of TIF will not result in tax shifts. The current level of taxes will continue to flow to the current taxing entities and only the increased value of revenues resulting from the improvements will be applied to the cost of the improvement. No community public service need will be generated as a result of this project. The development of this site will provide employment by increasing the demand for personal services and employees to provide these services. This development will impact other businesses, as there will be an increase in the demand for employees to fill the employment opportunities created by this development. The elimination for the blight 6 ingles and empty-nesters, as are many of the new condominium developments in Downtown Omaha, this project also lends itself to young 14 ....1.0 • ,::::: *nil•- -- • -'177-i'v.-... ., . •. W) , , ....... 1,,, -;,., - - ,_ _ _ ..,•', ., . ,.. 1 . . •..., - -)- , • . tMilik.',...M.D. .• .. . - I!-:. •' ' ",••• •,,-• , • . . : :::'i, Mat--', - 1,130 '• LIZ_.0. )'' ••."-• 52,.., .:.. ,/.,.•-.. -.- ::-•- •••', •.'.( ..„ . .A;,..,;• . ,_ _ : :'" • :t ''' - ,'Af.,.24tev .::,,, ''•illiffs4:: 4r7 - -- w.R :'.i'>ff. "�� .'rf-.'. - -. '-l�j,'s ♦. ' n.4=f'•`r,at'-t: - a!'=y'� Magnum Realty,Inc i M 11550 I Street,Suite 200 MAG NIJM '" Omaha,NE 68137 (402)558 2200 • fax,(402)558 1998 REALTY , I N C I _. ..s..r'.w_a.w.-;,.., -*.n+.nu..—u4..441.1..!._,:.L......_.:,n".0.+:w.«Ss w._..--n.r-.....a:. x'.a..•s- .. a.A:G3.,4,::,- .a; I a'Q O M C '(p l0 N N 7 . > U- O y E I--d c> e C CD CD O 0 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 Ni I Q a0 X O sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr aN) I cr. C �� QQQQQQQQQQQQQQQQQQQQQQQQQQI 8 m a) ` I - C I 7 I J U O N C)75 W I • 1.; 1 C O O m . 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N O N 11 (n aI O W O . 27 a) >m i, it 9E'o� E U II N W J a) II 17 a) d '0'V W I .II r g N 2 a - 1 0 0 p o 0 o C)C)CO)O 0 0O)0)0)CD 0O) 0O)T 0)0O)0)CD T 0O)0)OO)0O) 0)0 0O)CO)CA 00) o f x c o 0. -O O C 0010000000000000000000000,00 0 U$2 N a)O 11 O N S2 O I N N N N N N N N N N N N N N N N c' N N N N N N N N C4 N U N C0 O 1 0 X g 1 N N N N N N N N N N N N N N N N N N N N N N N N N N C - 7 TO I Q N a A F O N ItQ Q sr sr sr sr Q sr sr Q Q Q Q Q sr Q sr Q Q Q Q Q sr sr Q 0 t0 7 0 > a) tQ.. I-> c0.. C j t0 )- E«O O a) C C O u) .-u)N(O el up sr up (0u)(D u)1-u)a0(0 a)(0 O u),-u)N u)C)u)Q(0 u) O V.'N t0 7 O 0 - N C) Q u) CO r` m O T O `- '-'C)`-99 ^ O C E a T a_ m w (Cp a 1 . U d c.I- a In Q a)U m 7 N Q . Z N (0 N U EXHIBIT D . PROPOSED FLOOR PLANS ; 4 , f ; _. `i tea!\ x,. £ 3 T . \ ,.:.:. /\, \ ., 1 \/ .., Y+ jjjj d ; ) p., (f i ii y d s X Xl- 4 r 4 7 t \ O ....„.....] .:.. \-:\i--- — '( ',. (A, L_..., ii:•,;:i: i:.:,ii•.: -. 11 li fil_tt_______ 1, . ... ..;,..,::::: i?..,..: „i •i • ;iizi; . ...:ii.:: r— 1 � s ' tom 1 . .w -_, l 1 , , I r j ` �.J 13 //11407 Approved Mayor 0,AI'ING MADE ?� 1)/\TE MAILED_ 4 5/ 6 7 5 • • \\v t f' 1 • \ „ h. jm, \ _ < / \\ \/ ` m . n1 0 '\ 111\ \, .: /` v q ., \ r C� i O \Cl ,�a,i.c..:v n `. .4.,..,. NIE -. ' %::::::$::!:::: \ C) T. \ I • .n \\ 1 1 1 1 L J 14 i?..,..: „i •i • ;iizi; . ...:ii.:: r— 1 � s ' tom 1 . .w -_, l 1 , , I r j ` �.J 13 //11407 Approved Mayor 0,AI'ING MADE ?� 1)/\TE MAILED_ 4 5/ 6 7 5 EEEEEEEEEEEt . . :.. ea— i F - III \\ v� ",. !Nov"! V.Y SU t0N r ' y \' v / v ,-^. 1 0 — ..:. , o • r. .,; .'r;^\ 1 j:\ KI.',F ^] L R 3" i:gj� •y J/-p�' ♦ •t �i:'t \ ••,• •:; w _ x Ic 15 1 1 1 L J 14 i?..,..: „i •i • ;iizi; . ...:ii.:: r— 1 � s ' tom 1 . .w -_, l 1 , , I r j ` �.J 13 //11407 Approved Mayor 0,AI'ING MADE ?� 1)/\TE MAILED_ 4 5/ 6 7 5 L 1 '-''.cox---C. 0;` *4--:,.40 4-4* mac`` *17 v ac.fi tv*k-c'c 4'" I .,,,d..4—del #.'. c3T— ' 4.s".. i - . omsd- 0. �,ae��x,.„ I�R-tertee; -4,- A1 "e ,ia4;� ris.�Jp�-G * A �fs. + „ Y `C{ .t +y `Cfye Gk,. -f-fi . 0,..0 • at' E'4g'FS." Re-s-�-ae"3'"5�'*Ckir'S. /yam, ��Yr�) ,y S^.41`C CM{,S'C#`i1' . �,�� ti/ .-x,�l "-t�`k^�# ,cox oa� r�� - T w,,,, �-s.-mow 4. m t y 0 -1-37! 7 U d i f ... q !� 1 . 1 — 16 I, ` �.J 13 //11407 Approved Mayor 0,AI'ING MADE ?� 1)/\TE MAILED_ 4 5/ 6 7 5 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 3/a49/in RECEIVED BY-G ►Yut fAAILING MADE g U DATE MAILED 4/i/6- 5 • OF 7 ,4Cz t o Omaha Nebras a �� 1y � atirb r75 ri 1819 Farnam—Suite LC 1 ®hrr z „ Omaha, Nebraska 68183-0112 0� ,� ';_M, Buster Brown (402) 444-5550 City Clerk FAX (402) 444-5263 0 �47Fo FEaR°'4 "NOTICE TO TAXING AUTHORITY" NOTICE OF PUBLIC HEARING ON THE GIOVANNA TOWNHOMES, LLC AT 6TH AND PIERCE TAX INCREMENT FINANCING REDEVELOPMENT PROJECT PLAN Notice is hereby given that the Omaha City Council has set Tuesday, April 24, 2007 at 2:00 p.m. as the date of Public Hearing on the Giovanna Townhomes, LLC at 6th and Pierce Tax Increment Financing Redevelopment Project Plan. - The Giovanna Townhomes, LLC at 6th and Pierce Tax Increment Financing9 Redevelopment Project Plan is an approximately 0.56 acre development located at 6t and Pierce Streets. The Redevelopment Plan is located within an area declared blighted and substandard and in need of redevelopment by the City Council by Resolution 1337, adopted January 9, 2007. The Giovanna Townhomes, LLC at 6th and Pierce Tax Increment Financing Redevelopment Project Plan proposes to facilitate the construction of 14 townhomes and two potential live/work spaces. The plan proposes up to $450,000 in Tax Increment Financing. The total project cost is estimated to be $3,866,800.00. 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 6TH 4 PIERCE. ' y 's f!'!,i'e g OMAHA,NE ill ntown Omaha. The site is not being utilized at the fullest and best economic use, as the current building is usable for residential purposes. The use of TIF will not result in tax shifts. The current level of taxes will continue to flow to the current taxing entities and only the increased value of revenues resulting from the improvements will be applied to the cost of the improvement. No community public service need will be generated as a result of this project. The development of this site will provide employment by increasing the demand for personal services and employees to provide these services. This development will impact other businesses, as there will be an increase in the demand for employees to fill the employment opportunities created by this development. The elimination for the blight 6 ingles and empty-nesters, as are many of the new condominium developments in Downtown Omaha, this project also lends itself to young 14 ....1.0 • ,::::: *nil•- -- • -'177-i'v.-... ., . •. W) , , ....... 1,,, -;,., - - ,_ _ _ ..,•', ., . ,.. 1 . . •..., - -)- , • . tMilik.',...M.D. .• .. . - I!-:. •' ' ",••• •,,-• , • . . : :::'i, Mat--', - 1,130 '• LIZ_.0. )'' ••."-• 52,.., .:.. ,/.,.•-.. -.- ::-•- •••', •.'.( ..„ . .A;,..,;• . ,_ _ : :'" • :t ''' - ,'Af.,.24tev .::,,, ''•illiffs4:: 4r7 - -- w.R :'.i'>ff. "�� .'rf-.'. - -. '-l�j,'s ♦. ' n.4=f'•`r,at'-t: - a!'=y'� Magnum Realty,Inc i M 11550 I Street,Suite 200 MAG NIJM '" Omaha,NE 68137 (402)558 2200 • fax,(402)558 1998 REALTY , I N C I _. ..s..r'.w_a.w.-;,.., -*.n+.nu..—u4..441.1..!._,:.L......_.:,n".0.+:w.«Ss w._..--n.r-.....a:. x'.a..•s- .. a.A:G3.,4,::,- .a; I a'Q O M C '(p l0 N N 7 . > U- O y E I--d c> e C CD CD O 0 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 Ni I Q a0 X O sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr aN) I cr. C �� QQQQQQQQQQQQQQQQQQQQQQQQQQI 8 m a) ` I - C I 7 I J U O N C)75 W I • 1.; 1 C O O m . 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N O N 11 (n aI O W O . 27 a) >m i, it 9E'o� E U II N W J a) II 17 a) d '0'V W I .II r g N 2 a - 1 0 0 p o 0 o C)C)CO)O 0 0O)0)0)CD 0O) 0O)T 0)0O)0)CD T 0O)0)OO)0O) 0)0 0O)CO)CA 00) o f x c o 0. -O O C 0010000000000000000000000,00 0 U$2 N a)O 11 O N S2 O I N N N N N N N N N N N N N N N N c' N N N N N N N N C4 N U N C0 O 1 0 X g 1 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 C - 7 TO I Q N a A F O N ItQ Q sr sr sr sr Q sr sr Q Q Q Q Q sr Q sr Q Q Q Q Q sr sr Q 0 t0 7 0 > a) tQ.. I-> c0.. C j t0 )- E«O O a) C C O u) .-u)N(O el up sr up (0u)(D u)1-u)a0(0 a)(0 O u),-u)N u)C)u)Q(0 u) O V.'N t0 7 O 0 - N C) Q u) CO r` m O T O `- '-'C)`-99 ^ O C E a T a_ m w (Cp a 1 . U d c.I- a In Q a)U m 7 N Q . Z N (0 N U • CASE: C3-07-048 11 APPLICANT: Giovanna Townhomes, LLC REQUEST: Approval of the GIOVANNA ROWS @ 6 & PIERCE STREETS • TAX INCREMENT FINANCING REDEVELOPMENT PLAN LOCATION: 6 & Pierce Streets SUBJECT AREA IS SHADED - FEBRUARY 2007 _...---ii Iilililill R7 St- ilikitA Ma 1 HI H I HI R7 HI Pierce 4 GC GC 7,, n „,,r, GC �a 5 R ,„ • -o R7 R7 GI R7 c R- Po••Ieton ci all R7 R7 R7 R7 R7 R7 R7 GI I r-__, 1 I 1 \ r---- 0 200 Feet NG LIST RECEIVED 3/a49/in RECEIVED BY-G ►Yut fAAILING MADE g U DATE MAILED 4/i/6- 5 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 0.56 acre Giovanna Rows at 6th and Pierce Development Project Area is located at 6th and Pierce Streets (see Attachment 1 for complete legal description); 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. 1337, adopted January 9, 2007; and, WHEREAS, The Giovanna Rows at 6th and Pierce Tax Increment Financing (TIF) Redevelopment Plan is for the purpose of facilitating construction of fourteen townhomes and two live/work units. as described in Exhibit "A", attached hereto and made a part hereof; and, WHEREAS, The Giovanna Rows at 6th and Pierce Tax Increment Financing (TIF) Redevelopment Plan provides for the use of Tax Increment Financing for site acquisition, demolition, site development, public improvements 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, WHEREAS, The Giovanna Rows at 6th and Pierce Tax Increment Financing (TIF) Redevelopment Plan was approved by the City of Omaha Planning Board on February 7, 2007. By Councilmember Adopted City Clerk Approved Mayor revenues resulting from the improvements will be applied to the cost of the improvement. No community public service need will be generated as a result of this project. The development of this site will provide employment by increasing the demand for personal services and employees to provide these services. This development will impact other businesses, as there will be an increase in the demand for employees to fill the employment opportunities created by this development. The elimination for the blight 6 ingles and empty-nesters, as are many of the new condominium developments in Downtown Omaha, this project also lends itself to young 14 ....1.0 • ,::::: *nil•- -- • -'177-i'v.-... ., . •. W) , , ....... 1,,, -;,., - - ,_ _ _ ..,•', ., . ,.. 1 . . •..., - -)- , • . tMilik.',...M.D. .• .. . - I!-:. •' ' ",••• •,,-• , • . . : :::'i, Mat--', - 1,130 '• LIZ_.0. )'' ••."-• 52,.., .:.. ,/.,.•-.. -.- ::-•- •••', •.'.( ..„ . .A;,..,;• . ,_ _ : :'" • :t ''' - ,'Af.,.24tev .::,,, ''•illiffs4:: 4r7 - -- w.R :'.i'>ff. "�� .'rf-.'. - -. '-l�j,'s ♦. ' n.4=f'•`r,at'-t: - a!'=y'� Magnum Realty,Inc i M 11550 I Street,Suite 200 MAG NIJM '" Omaha,NE 68137 (402)558 2200 • fax,(402)558 1998 REALTY , I N C I _. ..s..r'.w_a.w.-;,.., -*.n+.nu..—u4..441.1..!._,:.L......_.:,n".0.+:w.«Ss w._..--n.r-.....a:. x'.a..•s- .. a.A:G3.,4,::,- .a; I a'Q O M C '(p l0 N N 7 . > U- O y E I--d c> e C CD CD O 0 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 Ni I Q a0 X O sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr aN) I cr. C �� QQQQQQQQQQQQQQQQQQQQQQQQQQI 8 m a) ` I - C I 7 I J U O N C)75 W I • 1.; 1 C O O m . 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I 2CO u,u)i x Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Cr Q Q Q Q Q Q Q Q 0 I >m 8� '17 .- I (9 N N 1 7 `m m - I c (U C Q O o co co co co co co co co OD Co co Co co co CO co o co co co 0 0 co co co ao ao(D CO m CO 0 0 a)C) 0)a)a) CD a)0)Q) 0 a)0 a)a)a)a)0 a)0 0 0 to al a)0 a)a)O)a)A a) .-(0 r-n n r-n n n r-I-r-h n r I-n 1-r-n I-r-r- n I-I-I- I-I-I-0-I-n ciao ma)a)O CD Ca)ocr) O)a)a)Oa)0)0)a)0)0 a)a) a)a)a)0 O a)m of a)a) xx 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 00 (D F J 1 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 N Q to Ca . a) E 0 0 0 0• O O o 0 O 0 0 0 0 0 0 0 0 0 O o 0 0 O 0 0 0 O o o 0 0 (0 y O a)O a)a)a)a)COa)O a)CI)0 CI)0)0 0)O)O)O)a) a)0 0 a) a) N 0 1L- 3 O 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 8 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 a) y u- 1 NNNNNNNNNNNNN NNNN NNNN NNNNN O)!!)a 2° 8 F m IN (p Q Q Q Q Q Q Q Cr Q Cr Q Q Q Q Q Q Q Q Q sr sr sr sr sr sr sr C C a, m 1-3 ((C N C N 0 0 0 0 0 0 0 0 0 CD CD CD CD CD CD 0 0 0 0 0 0 0 CD 0 0 CD CD 0 0 0 CC €O F g U_ N O a) W O a 0,a) i 1I .(0 t C d n> J O. N O N 11 (n aI O W O . 27 a) >m i, it 9E'o� E U II N W J a) II 17 a) d '0'V W I .II r g N 2 a - 1 0 0 p o 0 o C)C)CO)O 0 0O)0)0)CD 0O) 0O)T 0)0O)0)CD T 0O)0)OO)0O) 0)0 0O)CO)CA 00) o f x c o 0. -O O C 0010000000000000000000000,00 0 U$2 N a)O 11 O N S2 O I N N N N N N N N N N N N N N N N c' N N N N N N N N C4 N U N C0 O 1 0 X g 1 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 C - 7 TO I Q N a A F O N ItQ Q sr sr sr sr Q sr sr Q Q Q Q Q sr Q sr Q Q Q Q Q sr sr Q 0 t0 7 0 > a) tQ.. I-> c0.. C j t0 )- E«O O a) C C O u) .-u)N(O el up sr up (0u)(D u)1-u)a0(0 a)(0 O u),-u)N u)C)u)Q(0 u) O V.'N t0 7 O 0 - N C) Q u) CO r` m O T O `- '-'C)`-99 ^ O C E a T a_ m w (Cp a 1 . U d c.I- a In Q a)U m 7 N Q . Z N (0 N U C-25A CITY OF OMAHA - LEGISLATIVE CHAMBER Omaha,Nebraska PAGE 2 r :r. G. ' .? NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL Of'THE CITY OF OMAHA: THAT, the attached The Giovanna Rows at 6th and Pierce Tax Increment Financing (TIF) Redevelopment 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, be and hereby is approved as the Redevelopment Plan for The Giovanna Rows at 6th and Pierce. APPROVED AS TO FORM: . " C., 3(Adtr7 CITY ATTORNEY DATE P:\PLN4\17172maf.doc By la14441 .... 4644ft ouncilmember Adopted APR &y 2007 so //Xt,a4 ,,,54:i . , City:le`rk/ / Approved� 1^" .� 7�a��` �� . � �� ayor evelopment Plan is for the purpose of facilitating construction of fourteen townhomes and two live/work units. as described in Exhibit "A", attached hereto and made a part hereof; and, WHEREAS, The Giovanna Rows at 6th and Pierce Tax Increment Financing (TIF) Redevelopment Plan provides for the use of Tax Increment Financing for site acquisition, demolition, site development, public improvements 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, WHEREAS, The Giovanna Rows at 6th and Pierce Tax Increment Financing (TIF) Redevelopment Plan was approved by the City of Omaha Planning Board on February 7, 2007. By Councilmember Adopted City Clerk Approved Mayor revenues resulting from the improvements will be applied to the cost of the improvement. No community public service need will be generated as a result of this project. The development of this site will provide employment by increasing the demand for personal services and employees to provide these services. This development will impact other businesses, as there will be an increase in the demand for employees to fill the employment opportunities created by this development. The elimination for the blight 6 ingles and empty-nesters, as are many of the new condominium developments in Downtown Omaha, this project also lends itself to young 14 ....1.0 • ,::::: *nil•- -- • -'177-i'v.-... ., . •. W) , , ....... 1,,, -;,., - - ,_ _ _ ..,•', ., . ,.. 1 . . •..., - -)- , • . tMilik.',...M.D. .• .. . - I!-:. •' ' ",••• •,,-• , • . . : :::'i, Mat--', - 1,130 '• LIZ_.0. )'' ••."-• 52,.., .:.. ,/.,.•-.. -.- ::-•- •••', •.'.( ..„ . .A;,..,;• . ,_ _ : :'" • :t ''' - ,'Af.,.24tev .::,,, ''•illiffs4:: 4r7 - -- w.R :'.i'>ff. "�� .'rf-.'. - -. '-l�j,'s ♦. ' n.4=f'•`r,at'-t: - a!'=y'� Magnum Realty,Inc i M 11550 I Street,Suite 200 MAG NIJM '" Omaha,NE 68137 (402)558 2200 • fax,(402)558 1998 REALTY , I N C I _. ..s..r'.w_a.w.-;,.., -*.n+.nu..—u4..441.1..!._,:.L......_.:,n".0.+:w.«Ss w._..--n.r-.....a:. x'.a..•s- .. a.A:G3.,4,::,- .a; I a'Q O M C '(p l0 N N 7 . > U- O y E I--d c> e C CD CD O 0 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 Ni I Q a0 X O sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr aN) I cr. C �� QQQQQQQQQQQQQQQQQQQQQQQQQQI 8 m a) ` I - C I 7 I J U O N C)75 W I • 1.; 1 C O O m . 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The development of this site will provide employment by increasing the demand for personal services and employees to provide these services. This development will impact other businesses, as there will be an increase in the demand for employees to fill the employment opportunities created by this development. The elimination for the blight 6 ingles and empty-nesters, as are many of the new condominium developments in Downtown Omaha, this project also lends itself to young 14 ....1.0 • ,::::: *nil•- -- • -'177-i'v.-... ., . •. W) , , ....... 1,,, -;,., - - ,_ _ _ ..,•', ., . ,.. 1 . . •..., - -)- , • . tMilik.',...M.D. .• .. . - I!-:. •' ' ",••• •,,-• , • . . : :::'i, Mat--', - 1,130 '• LIZ_.0. )'' ••."-• 52,.., .:.. ,/.,.•-.. -.- ::-•- •••', •.'.( ..„ . .A;,..,;• . ,_ _ : :'" • :t ''' - ,'Af.,.24tev .::,,, ''•illiffs4:: 4r7 - -- w.R :'.i'>ff. "�� .'rf-.'. - -. '-l�j,'s ♦. ' n.4=f'•`r,at'-t: - a!'=y'� Magnum Realty,Inc i M 11550 I Street,Suite 200 MAG NIJM '" Omaha,NE 68137 (402)558 2200 • fax,(402)558 1998 REALTY , I N C I _. ..s..r'.w_a.w.-;,.., -*.n+.nu..—u4..441.1..!._,:.L......_.:,n".0.+:w.«Ss w._..--n.r-.....a:. x'.a..•s- .. a.A:G3.,4,::,- .a; I a'Q O M C '(p l0 N N 7 . > U- O y E I--d c> e C CD CD O 0 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 Ni I Q a0 X O sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr aN) I cr. C �� QQQQQQQQQQQQQQQQQQQQQQQQQQI 8 m a) ` I - C I 7 I J U O N C)75 W I • 1.; 1 C O O m . H e - I O)a N 1 I 3 y 0 0 0 0 Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q I 1 a)0 . CO co co co co co co co co co co co co co co co co co co co co co co co m co sr I c(D a) ( QQQQQQQQ QQQQQ QQQcr QQQQ QQQ sr sr r"-..r"-.. 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Z N (0 N U "NOTICE TO PUBLIC" NOTICE OF PUBLIC HEARING ON THE GIOAND PI ROWS Proof of publication AT 6TH AND PIERCE E TAX INCREMENT FINANCING REDEVELOPMENT PROJECT PLAN Notice is hereby given that the Omaha City Council has set Tuesday,April 24,2007 at 2 p as date of AFFIDAVIT Public Hearingon the Giovanna Rows at and Pierce Tax Increment Financing Redevelopment Project Plan. The Giovanna Rows at 6th and Pierce Tax Increment State of Nebraska, County of Douglas, ss: Financing Redevelopment Project Plan Is an approximately 0.56 acre development located at 6th and Pierce Streets. The Redevelopment Plan is located within an area declared blighted and substandard and In need of redevelopment by the City adoptedJe January Resolution, 007 337, Joyce Sawatzki, being duly sworn, deposes and says that he/she is an employee The Giovanna Rows at 6th and Pierce Tax Increment of The Omaha World-Herald, a legal daily newspaper printed and published in Redevelopment Project Plan proposes,to faof 14 oe the es and the county of Douglas and State of Nebraska, and of general circulation in the of 14 townhomes and two potential live/work spaces. The plan proposes up to Counties of Douglas, and S and State of Nebraska, and that the attached 4450,000 In Tax Increment gY Financing. The total project co be 435866,80t is 0 00 i Aacoppy od f said printed notice was published in the said newspaper on the 5th & 12th days of plan is available for public inspection in the City Clerk's Office. April, 2007, and that said newspaper is a legal newspaper under the statutes of Public Hearing will be held before the City Councilin a the State of Nebraska. The above facts are within my personal knowledge. The Legislativethef City of Omaha, the Chambers, Civic Omaha/Douglas Civic Center,1819 Farnam Street, Omaha World-Herald has an average circulation of 188,248 Daily and 235,161 Omaha,Nebraska. Buster Brown City Clerk Sunday,in 2007. 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. (Signed) Title:Account Executive PLEASE NOTIFY TAMMY BIODROWSKI EE53 IF ARRANGEMEMENTSS NEED t0 BE MADE S,scribe.scrib_e• in my presence and sworn to before me this /dov day of ,2007. t NoePu is Printer's Fee$ Affidavit Paid By ,•=\P :vF: CONNIE J.LEE :oE"E""`=` MY COMMISSION EXPIRES .� NOTARY; RpsW January 22,2010 _ , Mat--', - 1,130 '• LIZ_.0. )'' ••."-• 52,.., .:.. ,/.,.•-.. -.- ::-•- •••', •.'.( ..„ . .A;,..,;• . ,_ _ : :'" • :t ''' - ,'Af.,.24tev .::,,, ''•illiffs4:: 4r7 - -- w.R :'.i'>ff. "�� .'rf-.'. - -. '-l�j,'s ♦. ' n.4=f'•`r,at'-t: - a!'=y'� Magnum Realty,Inc i M 11550 I Street,Suite 200 MAG NIJM '" Omaha,NE 68137 (402)558 2200 • fax,(402)558 1998 REALTY , I N C I _. ..s..r'.w_a.w.-;,.., -*.n+.nu..—u4..441.1..!._,:.L......_.:,n".0.+:w.«Ss w._..--n.r-.....a:. x'.a..•s- .. a.A:G3.,4,::,- .a; I a'Q O M C '(p l0 N N 7 . > U- O y E I--d c> e C CD CD O 0 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 Ni I Q a0 X O sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr sr aN) I cr. C �� QQQQQQQQQQQQQQQQQQQQQQQQQQI 8 m a) ` I - C I 7 I J U O N C)75 W I • 1.; 1 C O O m . H e - I O)a N 1 I 3 y 0 0 0 0 Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q I 1 a)0 . CO co co co co co co co co co co co co co co co co co co co co co co co m co sr I c(D a) ( QQQQQQQQ QQQQQ QQQcr QQQQ QQQ sr sr r"-..r"-.. 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N O N 11 (n aI O W O . 27 a) >m i, it 9E'o� E U II N W J a) II 17 a) d '0'V W I .II r g N 2 a - 1 0 0 p o 0 o C)C)CO)O 0 0O)0)0)CD 0O) 0O)T 0)0O)0)CD T 0O)0)OO)0O) 0)0 0O)CO)CA 00) o f x c o 0. -O O C 0010000000000000000000000,00 0 U$2 N a)O 11 O N S2 O I N N N N N N N N N N N N N N N N c' N N N N N N N N C4 N U N C0 O 1 0 X g 1 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 C - 7 TO I Q N a A F O N ItQ Q sr sr sr sr Q sr sr Q Q Q Q Q sr Q sr Q Q Q Q Q sr sr Q 0 t0 7 0 > a) tQ.. I-> c0.. C j t0 )- E«O O a) C C O u) .-u)N(O el up sr up (0u)(D u)1-u)a0(0 a)(0 O u),-u)N u)C)u)Q(0 u) O V.'N t0 7 O 0 - N C) Q u) CO r` m O T O `- '-'C)`-99 ^ O C E a T a_ m w (Cp a 1 . U d c.I- a In Q a)U m 7 N Q . Z N (0 N U . - THE DAILY RECORD "NOTICE TO PUBLIC" NOTICE OF PUBLIC HEARING ON THE OF OM/�H/� GIOVANNA ROWS AT 6TH AND PIERCE i��c ail�� TAX INCREMENT FINANCING REDEVELOPMENT PROJECT PLAN RONALD A. HENNINGSEN, Publisher Notice ishereby given that the Omaha PROOF OF PUBLICATION City Council has.has.set Tuesday, April 24, 2007 at 2:00 p.m. as the date of Public Hearing on the Giovanna Rows at 6th and Pierce Tax Increment Financing UNITED STATES OF AMERICA, Redevelopment Project Plan. The State of The Giovanna Rows at 6th and Pierce Tax Nebraska, SS. Increment Financing Redevelopment Project District of Nebraska, Plan is an approximately 0.56 acre Countyof Douglas, development located at 6th and PierceOu g Streets. The Redevelopment Plan is located City of Omaha, within an area declared blighted and substandard and in need of redevelopment by the City Council by Resolution 1337, J.BOYD adopted January 9,2007. The Giovanna Rows at 6th and Pierce Tax being duly sworn,deposes and says that she is Increment Financing Redevelopment Project Plan proposes to facilitate the construction LEGAL EDITOR of 14 townhomes and two potential live/work spaces. The plan proposes up to$450,000 in Tax of THE DAILY RECORD, of Omaha, a legal newspaper, printed and Increment Financing. The total project cost published daily in the English language, having a bona fide paid is estimated to be S3,866,800.00. A copy of said plan is available for public•inspection in circulation in Douglas County in excess of 300 copies, printed in the City Clerk's Office. Omaha,in said County of Douglas,for more than fifty-two weeks last Public Hearing will be held before the 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 Farnam Street, Omaha, DAILY RECORD,of Omaha,on Nebraska. BUSTER BROWN, April 5 and 12, 2007 City Clerk ALL REQUESTS FOR SIGN LANGUAGE INTERPRETERS(SIGNERS) WILL REQUIRE A MINIMUM OF 48 HOURS ADVANCE NOTICE. IF ALTERNATIVE FORMATS ARE NEEDED ALL REQUESTS WILL REQUIRE A MINIMUM OF 72 HOURS ADVANCE NOTICE. .a AtJ�``SS�,` per during that time was regularly published and PLEASE NOTIFY TAMMY BIODROWSKINEEDT - • e�•eirCl<i 0 in the County of r i glas,and State of Nebraska. 444-5553, IF ARRANGEMENTS NEED TO BE l� 'I� EN ERq ' 1n MADE. G r} h4-5&12-07 • ; /', NOTARY Subscribe% my presence and sworn to before �C COMMISSION ubllisheryES $ 'S 2 6 me this 12 th day of diihpip 2. Y opl0)* Apr 1 d 20_0 7 6gk sino ouglas County, State of Nebraska davit Paid By ,•=\P :vF: CONNIE J.LEE :oE"E""`=` MY COMMISSION EXPIRES .� NOTARY; RpsW January 22,2010 _ , Mat--', - 1,130 '• LIZ_.0. )'' ••."-• 52,.., .:.. ,/.,.•-.. -.- ::-•- •••', •.'.( ..„ . .A;,..,;• . ,_ _ : :'" • :t ''' - ,'Af.,.24tev .::,,, ''•illiffs4:: 4r7 - -- w.R :'.i'>ff. "�� .'rf-.'. - -. '-l�j,'s ♦. 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