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RES 2006-0955 - The Hill Condo Conversions TIF redevelopment project plan , i NFa RECEIVED Planning Department �P 4104 Omaha/Douglas Civic Center • t��C.�J�'"�'a�"" 06819 Farnam Street,Suite 1100 ®2 � � AUGt1 : 31 Omaha,Nebraska 68183 °�'" . `�, 402 444-5150 °RAT J���ro Uri'i i' i C s Telefax(402)444-6140 eD FEBR E' D 4 S ti 4 Steven N.Jensen,AICP City of Omaha Director Mike Fahey,Mayor August 22, 2006 Honorable President and Members of the City Council, The attached proposed Resolution transmits the Tax Increment Financing (TIF) Redevelopment Project Plan for the conversion of the Athlone, Douglas and Hudson Buildings located at 26th Avenue and Douglas Street which most recently consisted of Section 8 housing in the form of small one-bedroom and efficiency apartments. The currently vacant, deteriorating properties known as the HILL CONDO Development are slated for complete rehabilitation, reconstruction and conversion into 27 one- and two-bedroom for sale residential condominiums. Fifteen units in the Athlone will consist of twelve (12) one- bedroom units with 900 square feet each and three (3) two-bedroom, two bathroom units with 1,200 square feet each. The Douglas and Hudson Buildings will have a total of twelve.(12) one- bedroom units (six in each building) at approximately 900 square feet apiece. In addition, the developer plans to install new sidewalks with tree boxes where the sidewalk width will allow. A wrought iron fence will surround the property and a security entrance will be installed. A parking lot with seventeen (17) stalls is located behind the building. This lot is accessible from Paxton Court and will be repaved. Located on the northwest corner of Douglas and 25th Avenue, across the street from the Athlone, is an additional parking lot that has thirty-two (32) stalls. The developer has secured a twenty-year lease for both lots for The Hill residents' exclusive use. The Total estimated project investment is approximately $2,836,000.00 with TIF of approximately$440,000.00. urchase equipment.This form must be completed. Ise this form for each different piece of equipment to be purchased. Attach budget justification document. 7/27/05 City of Omaha-FY05 UASI Equipment Procurement Request Form pg 1 1 0 members trained by March 31, 2007. (3) We will procure all medical equipments, MRC members trained and familiar with all equipment in the go bags. (4) Members will have training courses that are mandatory completed by March 2007. (5)Medical Reserve Corps will participate in the October 2006 USAI drill. 1 2cn > co . cn awo2 cn Z.- C, T- T-}, o � 7c? c� '7Q? vv 0 ' r N r r (�•Nrr aU D D N of of of 6 • C.) it) Di * occupancy agreement or other agreement pertaining thereto (the "Rents and Profits"), and all right, title and interest of Trustor in and to all leases, licenses and occupancy agreements of the Real Estate or of the Improvements now or hereafter entered into and all right, title and interest of Trustor thereunder, including without limitation, cash or securities deposited thereunder to secure performance by tenants, lessees or licensees, as applicable, of their obligations thereunder; (f) all building materials and supplies now or hereafter placed on the Real Estate or in the Improvements; (g) all proceeds of the conversion,voluntary or involuntary, of any of the foregoing into cash or liquidated claims, including, without limitation, proceeds of insurance and condemnation awards;and(h)all other or greater rights and interests of every nature in the Real Estate and the Improvements and in the possession or use thereof and income therefrom, whether now owned or subsequently acquired by Trustor. The property so conveyed hereunder is hereinafter referred to as "such property". After filing return to: Omaha Planning Department Attn: Dave Tollefsrud 1819 Farnam Street, Suite 1111 Omaha, NE 68183 hio • Brookhaven National Laboratory, Upton, New York • Charles Stark Draper Laboratory, Incorporated, Cambridge, Massachusetts • CNA Corporation (CNAC), Alexandria, Virginia • Environmental Institute of Michigan,Ann Arbor, Michigan • Georgia Institute of Technology/Georgia Tech Applied Research Corporation/Georgia Tech Research Institute, Atlanta, Georgia • Hanford Environmental Health Foundation, Richland, Washington ight to free use of the patent or copyright. t21 The patent or coovriaht has been adiudicated to be invalid. or has been administratively determined to be • Costs incurred for improvements which add to the permanent value of the buildings and equipment or appreciably prolong their intended life shall be treated as capital expenditures (see paragraph 15). 28. Materials and supplies costs. a. Costs incurred for materials. suoolies. and fabricated Darts necessary to carry out a Federal award are buildings, shall be allocated to the individual functions performed in each building on the basis of usable square feet of space, excluding common areas, such as hallways, stairwells, and restrooms. (c) Depreciation or use allowances on buildings, capital improvements and equipment related space (e.g., individual rooms, and laboratories) used jointly by more than one function (as determined by the ..-,.�,. ..1♦L.. \ L...11 L� ♦-..�l�J �- /.,11-...� TL- ..--a -[ .. -L :�:� I.. ..-�J ..-:♦ -1 -��II Honorable President and Members of the City Council Page 2 Your review and approval of the Hill Condominium Development Tax Increment Financing (TIF) Redevelopment Project Plan for the proposed Hill Condominium Development is appreciated. Respectfully submitted, Referred to City Council for Consideration: —� • 8. (Lf.aG Steven N. Jense � PA Date Mayor's Office Date Planning Director Approved as to Funding: Approved: Vk tt (51,2 `"( Carol A. Ebdon � Q Date bert G. tubbe, P.E. Date Finance Director U�' Pu lic Works Director P:\PLN3\16539maf.DOC Publication of Notice of Public Hearing: August 24 and August 31, 2006 Public Hearing: September 12, 2006 preciated. Respectfully submitted, fr2L)4 - Mike Fahey,M46 City of Omaha P:\LAW 1\14336pjm.doc Attachment 1 LEGAL DESCRIPTIONS The Athlone: 2567 Douglas Avenue Lot 10, Paxton Court, a Subdivision Located in the NE '/4 of Section 21, Township 15 North, Douglas County,Nebraska The Hudson: 207 South 26`h Avenue Lot 9, Paxton Court, Subdivision Located in the NE % of Section 21, Township 15 North, Douglas County, Nebraska The Douglas: 213 South 26th Avenue Lot 8, Paxton Court, Subdivision Located in the NE ' of Section 21, Township 15 North, Douglas County,Nebraska I ' -- 1 "�' - - , �` .......it 1...-1. , . .01 4..,r-i- ' -....1 "'''''.. .... 5 • ,,,. ..,„_. 0. ,, ,...,,_.„.,T,, ,0 a, ..._ , ,..,.._ .74;.. , ,_-.... , ,.., .a.- ,,,„,,...„. J 0 ! 9:4 , .r... itut: * -" hie 1, d 1 ��_ - : -, _ ti _ _- - —;: S ^ .lam+.f1�'- I ra... - - n the Athlone will consist of twelve (12) one- bedroom units with 900 square feet each and three (3) two-bedroom, two bathroom units with 1,200 square feet each. The Douglas and Hudson Buildings will have a total of twelve.(12) one- bedroom units (six in each building) at approximately 900 square feet apiece. In addition, the developer plans to install new sidewalks with tree boxes where the sidewalk width will allow. A wrought iron fence will surround the property and a security entrance will be installed. A parking lot with seventeen (17) stalls is located behind the building. This lot is accessible from Paxton Court and will be repaved. Located on the northwest corner of Douglas and 25th Avenue, across the street from the Athlone, is an additional parking lot that has thirty-two (32) stalls. The developer has secured a twenty-year lease for both lots for The Hill residents' exclusive use. The Total estimated project investment is approximately $2,836,000.00 with TIF of approximately$440,000.00. urchase equipment.This form must be completed. Ise this form for each different piece of equipment to be purchased. Attach budget justification document. 7/27/05 City of Omaha-FY05 UASI Equipment Procurement Request Form pg 1 1 0 members trained by March 31, 2007. (3) We will procure all medical equipments, MRC members trained and familiar with all equipment in the go bags. (4) Members will have training courses that are mandatory completed by March 2007. (5)Medical Reserve Corps will participate in the October 2006 USAI drill. 1 2cn > co . cn awo2 cn Z.- C, T- T-}, o � 7c? c� '7Q? vv 0 ' r N r r (�•Nrr aU D D N of of of 6 • C.) it) Di * occupancy agreement or other agreement pertaining thereto (the "Rents and Profits"), and all right, title and interest of Trustor in and to all leases, licenses and occupancy agreements of the Real Estate or of the Improvements now or hereafter entered into and all right, title and interest of Trustor thereunder, including without limitation, cash or securities deposited thereunder to secure performance by tenants, lessees or licensees, as applicable, of their obligations thereunder; (f) all building materials and supplies now or hereafter placed on the Real Estate or in the Improvements; (g) all proceeds of the conversion,voluntary or involuntary, of any of the foregoing into cash or liquidated claims, including, without limitation, proceeds of insurance and condemnation awards;and(h)all other or greater rights and interests of every nature in the Real Estate and the Improvements and in the possession or use thereof and income therefrom, whether now owned or subsequently acquired by Trustor. The property so conveyed hereunder is hereinafter referred to as "such property". After filing return to: Omaha Planning Department Attn: Dave Tollefsrud 1819 Farnam Street, Suite 1111 Omaha, NE 68183 hio • Brookhaven National Laboratory, Upton, New York • Charles Stark Draper Laboratory, Incorporated, Cambridge, Massachusetts • CNA Corporation (CNAC), Alexandria, Virginia • Environmental Institute of Michigan,Ann Arbor, Michigan • Georgia Institute of Technology/Georgia Tech Applied Research Corporation/Georgia Tech Research Institute, Atlanta, Georgia • Hanford Environmental Health Foundation, Richland, Washington ight to free use of the patent or copyright. t21 The patent or coovriaht has been adiudicated to be invalid. or has been administratively determined to be • Costs incurred for improvements which add to the permanent value of the buildings and equipment or appreciably prolong their intended life shall be treated as capital expenditures (see paragraph 15). 28. Materials and supplies costs. a. Costs incurred for materials. suoolies. and fabricated Darts necessary to carry out a Federal award are buildings, shall be allocated to the individual functions performed in each building on the basis of usable square feet of space, excluding common areas, such as hallways, stairwells, and restrooms. (c) Depreciation or use allowances on buildings, capital improvements and equipment related space (e.g., individual rooms, and laboratories) used jointly by more than one function (as determined by the ..-,.�,. ..1♦L.. \ L...11 L� ♦-..�l�J �- /.,11-...� TL- ..--a -[ .. -L :�:� I.. ..-�J ..-:♦ -1 -��II -JZ ,90 ! o w 5 4 R \\q\ o// U z ES z z` ``\ /j/ — Z E 3 .5 p.� v o f- J tc i goy e O Y. ,_ m —, d .$m `ea - -E _ w _ a nN • 0 w o ffi3 ito i\,�. 0 Zp .d c .g , Q z%s e8 a w- i�- wv -- - z Wm rig g a „ IV nsF 3f1N3AV H19Z v --� L 1 odLL oI 1- 1 1 I I a I - - ,r,.) -1 4 o I H cC zz - c� I __ _ _ __ I =O 7 �= > U o )6 Z w —¢ i e 1 I I = O -I of I I I '" I_ z I I Cl_ y a €o g s a o 9Wi „ mod, o =a a J O hl o w w, 3 lV)96.96 . 1?1l03 NO1XVd - I J _ -o O LL�J J -u '�"p " o w= � (d)�L4 0 lntsfi"fio(a).05 ,,ass 1 --y - - -- 0 z 9 i - ,LI M.£bA0.0OS M.a.00.00S - yJ 0 4 91> o 91 _ !o ao lam - bt .,�'IN)5691,(d)161 g m a e M.ee.o0.0os o' 0 �L \ e r 1 0 Cl) g = ) q I¢ '1 Ir —Cl,----. 3SI 15, Z ,~„� ¢ rJ �ba �d m i I i wxx w \ v z m zSz [C �? J°ui%.le (tl)16'661d1 ASJ (n).96'961d110 " I I LLI J_ d o a>9 i. cO N n. N 6a00.009 M.60A0.00S -- - - _ _ I . 1 za�w v0 rna �M� 0?N - - - > CO CO m oNo 0 2 0 ci0 I LLaLNa IS mo - OCLa -- -- Ir�� z osu o., �1 w 1 mioz / F ."\u0e .a .1 1.' _ \ ir, l 18 I o r LL >K u.egg.,oz1 I m F fo1 ` z A9l J 0 J9I (N).96'69\ .1'0- -- - __ _ AnM-d0-1H0I9 Al ,- 1 r ltl9d)A00S J ln).Z0LY(d).19 IV).06'691 ldl,091 (bald).00 L1'! 3.60,00.00N 3.6000,009 3.66.0O.00N 3.60,OOs00N' -` .L22 .LS H19Z - . f u e 310H 111110 11V.I.S a V. .Y -- -- -- H11M.X.031SIH+_-_ - - -- - - Y 1' )13019 G > - rN OO2���it60i I Ovp am n pI ' 6. � NO S z I 14 s 0 I 8 1' 3 I fa 5 5 5 g provements now or hereafter entered into and all right, title and interest of Trustor thereunder, including without limitation, cash or securities deposited thereunder to secure performance by tenants, lessees or licensees, as applicable, of their obligations thereunder; (f) all building materials and supplies now or hereafter placed on the Real Estate or in the Improvements; (g) all proceeds of the conversion,voluntary or involuntary, of any of the foregoing into cash or liquidated claims, including, without limitation, proceeds of insurance and condemnation awards;and(h)all other or greater rights and interests of every nature in the Real Estate and the Improvements and in the possession or use thereof and income therefrom, whether now owned or subsequently acquired by Trustor. The property so conveyed hereunder is hereinafter referred to as "such property". After filing return to: Omaha Planning Department Attn: Dave Tollefsrud 1819 Farnam Street, Suite 1111 Omaha, NE 68183 hio • Brookhaven National Laboratory, Upton, New York • Charles Stark Draper Laboratory, Incorporated, Cambridge, Massachusetts • CNA Corporation (CNAC), Alexandria, Virginia • Environmental Institute of Michigan,Ann Arbor, Michigan • Georgia Institute of Technology/Georgia Tech Applied Research Corporation/Georgia Tech Research Institute, Atlanta, Georgia • Hanford Environmental Health Foundation, Richland, Washington ight to free use of the patent or copyright. t21 The patent or coovriaht has been adiudicated to be invalid. or has been administratively determined to be • Costs incurred for improvements which add to the permanent value of the buildings and equipment or appreciably prolong their intended life shall be treated as capital expenditures (see paragraph 15). 28. Materials and supplies costs. a. Costs incurred for materials. suoolies. and fabricated Darts necessary to carry out a Federal award are buildings, shall be allocated to the individual functions performed in each building on the basis of usable square feet of space, excluding common areas, such as hallways, stairwells, and restrooms. (c) Depreciation or use allowances on buildings, capital improvements and equipment related space (e.g., individual rooms, and laboratories) used jointly by more than one function (as determined by the ..-,.�,. ..1♦L.. \ L...11 L� ♦-..�l�J �- /.,11-...� TL- ..--a -[ .. -L :�:� I.. ..-�J ..-:♦ -1 -��II EXHIBIT "A" THE HILL CONDO CONVERSIONS DOUGLAS, HUDSON & ATHLONE BUILDINGS Tax Increment Financing Redevelopment Project @ 26th and DOUGLAS STREET 2567 DOUGLAS STREET March 2006 OvtAHA.N ,.MilikVill n fyit y. 44TED FE1 � PLANNING • OMAHA Mike Fahey,Mayor City of Omaha Steven N.Jensen,AICP,Director Planning Department Omaha/Douglas Civic Center 1819 Farnam Street Omaha,Nebraska 68183 P.E. Date Finance Director U�' Pu lic Works Director P:\PLN3\16539maf.DOC Publication of Notice of Public Hearing: August 24 and August 31, 2006 Public Hearing: September 12, 2006 preciated. Respectfully submitted, fr2L)4 - Mike Fahey,M46 City of Omaha P:\LAW 1\14336pjm.doc INTER-OFFICE COMMUNICATION Date: February 17, 2005 To: Chairman and Members of the Omaha Planning Board From: Steve Jensen, Planning Director Developer: The Hill Condo Conversion 26th & DOUGLAS STREET 2567 Douglas Street Developer: Tim Steinbach The proposed project involves the conversion of the property into condominiums through the rehabilitation and renovation of the Athlone, Douglas and Hudson Buildings located at 26th Avenue and Douglas Street. The Athlone building comprised of 26 small one-bedroom efficiency apartments will be converted from its present state into 15 one and two bedroom condominiums. The fifteen units in the Athlone will consist of twelve (12) one-bedroom units with 900 square feet each and three (3) two-bedroom, two bathroom units with 1,200 square feet each. The Douglas and Hudson buildings will each have six one-bedroom condominium units. The Douglas and Hudson Buildings will have a total of twelve (12) one-bedroom units (six in each building) at approximately 900 square feet apiece. A parking lot with seventeen (17) stalls is located behind the building. This lot is accessible from Paxton Court and will be repaved. A lot located on the northwest corner of Douglas and 25th Avenue, across the street from the Athlone, is an additional parking lot that has thirty-two (32) stalls. The developer has secured a twenty-year lease for both lots for the exclusive use of the Hill Condo project. The City has identified this area as one of the communities in need of revitalization to reverse negative perceptions, increase the level of investment and reduce and or eliminate vacant property. The project site and area meet the requirements of Nebraska Community Development Law and qualify for the utilization of Tax Increment Financing which will be used to cover some of the cost associated with acquisition, demolition, rehabilitation, site development and Public Improvements as may be required and all other TIF eligible cost to complete the project. Recommendation: The department recommends approval of The Hill Condo Conversion Tax Increment Financing Redevelopment Project Plan proposed for the Athlone, Douglas, and Hudson Buildings located at 26th Avenue &Douglas Street. J u.egg.,oz1 I m F fo1 ` z A9l J 0 J9I (N).96'69\ .1'0- -- - __ _ AnM-d0-1H0I9 Al ,- 1 r ltl9d)A00S J ln).Z0LY(d).19 IV).06'691 ldl,091 (bald).00 L1'! 3.60,00.00N 3.6000,009 3.66.0O.00N 3.60,OOs00N' -` .L22 .LS H19Z - . f u e 310H 111110 11V.I.S a V. .Y -- -- -- H11M.X.031SIH+_-_ - - -- - - Y 1' )13019 G > - rN OO2���it60i I Ovp am n pI ' 6. � NO S z I 14 s 0 I 8 1' 3 I fa 5 5 5 g provements now or hereafter entered into and all right, title and interest of Trustor thereunder, including without limitation, cash or securities deposited thereunder to secure performance by tenants, lessees or licensees, as applicable, of their obligations thereunder; (f) all building materials and supplies now or hereafter placed on the Real Estate or in the Improvements; (g) all proceeds of the conversion,voluntary or involuntary, of any of the foregoing into cash or liquidated claims, including, without limitation, proceeds of insurance and condemnation awards;and(h)all other or greater rights and interests of every nature in the Real Estate and the Improvements and in the possession or use thereof and income therefrom, whether now owned or subsequently acquired by Trustor. The property so conveyed hereunder is hereinafter referred to as "such property". After filing return to: Omaha Planning Department Attn: Dave Tollefsrud 1819 Farnam Street, Suite 1111 Omaha, NE 68183 hio • Brookhaven National Laboratory, Upton, New York • Charles Stark Draper Laboratory, Incorporated, Cambridge, Massachusetts • CNA Corporation (CNAC), Alexandria, Virginia • Environmental Institute of Michigan,Ann Arbor, Michigan • Georgia Institute of Technology/Georgia Tech Applied Research Corporation/Georgia Tech Research Institute, Atlanta, Georgia • Hanford Environmental Health Foundation, Richland, Washington ight to free use of the patent or copyright. t21 The patent or coovriaht has been adiudicated to be invalid. or has been administratively determined to be • Costs incurred for improvements which add to the permanent value of the buildings and equipment or appreciably prolong their intended life shall be treated as capital expenditures (see paragraph 15). 28. Materials and supplies costs. a. Costs incurred for materials. suoolies. and fabricated Darts necessary to carry out a Federal award are buildings, shall be allocated to the individual functions performed in each building on the basis of usable square feet of space, excluding common areas, such as hallways, stairwells, and restrooms. (c) Depreciation or use allowances on buildings, capital improvements and equipment related space (e.g., individual rooms, and laboratories) used jointly by more than one function (as determined by the ..-,.�,. ..1♦L.. \ L...11 L� ♦-..�l�J �- /.,11-...� TL- ..--a -[ .. -L :�:� I.. ..-�J ..-:♦ -1 -��II . THE HILL CONDO CONVERSIONS DOUGLAS, HUDSON & ATHLONE BUILDINGS Tax Increment Financing Redevelopment Project 26th and DOUGLAS STREET 2567 DOUGLAS STREET March 2006 OMAHA,NF O K , 11 cyz_ i 'r AO44TB 'FETA"-�ll V � PLANNING • OMAHA Mike Fahey,Mayor City of Omaha Steven N.Jensen,AICP,Director Planning Department Omaha/Douglas Civic Center 1819 Farnam Street Omaha,Nebraska 68183 Finance Director U�' Pu lic Works Director P:\PLN3\16539maf.DOC Publication of Notice of Public Hearing: August 24 and August 31, 2006 Public Hearing: September 12, 2006 preciated. Respectfully submitted, fr2L)4 - Mike Fahey,M46 City of Omaha P:\LAW 1\14336pjm.doc ° �I . e or' 0 9 H BLOCK I 4 9 ® __ __ __ -- CHISLFDTWRH -- -- _ - IM 8 STAR DRILL HOLE 3' $a = G 26TH STREET a b _ ,.N00°00'09'ENOO _> 160' •159.90'(A) ND0.00'D9'E N00100'09'E y 47.00'(P&A)W 47'(P)47.02'(A) 50•00'(KA) 70'RIGHT-OF-WAY _ _ r0 fc __ - 16.0' 2B `� �i -o.r \69.95'(A) Q -1 T On 1 I�f'i X D I o $ I IrA �I =9 oTcoT> V Yfj z,s o z c3 5��x i oy Dy ° NI J v 9 Tn $`„$2 ' W -i __—o® n CA v V z z C m I _ _ _ _ -_ I S00.00'09w S00'00'09W:D c.,fs..i No co 4 J<o I I ym 47'(P)46.98'(A) 050'(P)49.9T(A).-- 21c'� a 70 ASzi m i 9OG N I pp A \ m 22. I X '''4I m 1'• t% "1 / D \1 o f . I c41 n D I tr I a /IRI \ OP '- mR mo N v"m 5 S00.O0'13V _O 4T(P146_ (A)� -- ]a .D 1�I ,, Ate=x I O O9YYT f o ) .9S00°00'43"W= r 2 9 o�- SO: S 1 (A) p _i - O E.N m m i-to- 46.95'(A) zHt 0 1- 0 42 1O I 0 • - - -- -- pm -10 L.mq o 1 o I I 0N 1 1 1 g. — I� -1ii T I I o .4 — 9�Fs -- I rl o a v 0 gi v^�• 25TH AVENUE sm srS Ai g s SA 151, (":::„....- ri of m 0 m ' S?� m m$ I -2 1 UI j rn 5. € E I g � Z gJ 4?_ � � c 1 - 4 : g LA N Z N z inm o m —� �,- "$' y 3 Z m 3 ,,(--r-'' ----'...) q. ci Cn G7 I HcZ7 ZP�1-1 -a m . //// 2 1 r ltl9d)A00S J ln).Z0LY(d).19 IV).06'691 ldl,091 (bald).00 L1'! 3.60,00.00N 3.6000,009 3.66.0O.00N 3.60,OOs00N' -` .L22 .LS H19Z - . f u e 310H 111110 11V.I.S a V. .Y -- -- -- H11M.X.031SIH+_-_ - - -- - - Y 1' )13019 G > - rN OO2���it60i I Ovp am n pI ' 6. � NO S z I 14 s 0 I 8 1' 3 I fa 5 5 5 g provements now or hereafter entered into and all right, title and interest of Trustor thereunder, including without limitation, cash or securities deposited thereunder to secure performance by tenants, lessees or licensees, as applicable, of their obligations thereunder; (f) all building materials and supplies now or hereafter placed on the Real Estate or in the Improvements; (g) all proceeds of the conversion,voluntary or involuntary, of any of the foregoing into cash or liquidated claims, including, without limitation, proceeds of insurance and condemnation awards;and(h)all other or greater rights and interests of every nature in the Real Estate and the Improvements and in the possession or use thereof and income therefrom, whether now owned or subsequently acquired by Trustor. The property so conveyed hereunder is hereinafter referred to as "such property". After filing return to: Omaha Planning Department Attn: Dave Tollefsrud 1819 Farnam Street, Suite 1111 Omaha, NE 68183 hio • Brookhaven National Laboratory, Upton, New York • Charles Stark Draper Laboratory, Incorporated, Cambridge, Massachusetts • CNA Corporation (CNAC), Alexandria, Virginia • Environmental Institute of Michigan,Ann Arbor, Michigan • Georgia Institute of Technology/Georgia Tech Applied Research Corporation/Georgia Tech Research Institute, Atlanta, Georgia • Hanford Environmental Health Foundation, Richland, Washington ight to free use of the patent or copyright. t21 The patent or coovriaht has been adiudicated to be invalid. or has been administratively determined to be • Costs incurred for improvements which add to the permanent value of the buildings and equipment or appreciably prolong their intended life shall be treated as capital expenditures (see paragraph 15). 28. Materials and supplies costs. a. Costs incurred for materials. suoolies. and fabricated Darts necessary to carry out a Federal award are buildings, shall be allocated to the individual functions performed in each building on the basis of usable square feet of space, excluding common areas, such as hallways, stairwells, and restrooms. (c) Depreciation or use allowances on buildings, capital improvements and equipment related space (e.g., individual rooms, and laboratories) used jointly by more than one function (as determined by the ..-,.�,. ..1♦L.. \ L...11 L� ♦-..�l�J �- /.,11-...� TL- ..--a -[ .. -L :�:� I.. ..-�J ..-:♦ -1 -��II KITCHEN r[PI r 0O1 (&'xl). � I 1 ----... _ ► BEDROOM I (12'xp'1 - LIVING ROOM r r� c O BATH 171 ElA C -1 - IT) ONE BEDROOM APARTMENT( 805 sf.) How THE HILL CONDOMINIUM CONVERSION ALLEY POYNER ARCHITECTURE P . C . Steven N.Jensen,AICP,Director Planning Department Omaha/Douglas Civic Center 1819 Farnam Street Omaha,Nebraska 68183 Finance Director U�' Pu lic Works Director P:\PLN3\16539maf.DOC Publication of Notice of Public Hearing: August 24 and August 31, 2006 Public Hearing: September 12, 2006 preciated. Respectfully submitted, fr2L)4 - Mike Fahey,M46 City of Omaha P:\LAW 1\14336pjm.doc ' .7. z.„1 _A"k , . . ,\l ,Ai y II � _ : ,,,,„ r". 11 = ' \� MA5 BEDROOM BATH 4611 • (IZ'xn') !L 1.11 i r LIVING ROOM �r.:n - .. ..--"T / EKI 7 ° L7:: ,145'x 145') li l 7 BATH \ 0CC DINING -f- -"\d" tirx159 E �° j 11 I _ ri . KITCHEN I { 1 _� BEDROOM �I -_ or x la) 1 .1.,.........t TOW BEDROOM APARTMENT( 1170 sf.) 0 LU SCALEI No SCALP THE HILL CONDOMINIUM CONVERSION ALLEY POYNER ARCHITECTURE P . C . i Fahey,M46 City of Omaha P:\LAW 1\14336pjm.doc • J\2004W4050•The HIM AtheloniaaavangA\4050_A1.0.dal PS 24•36,3l30200511:53:41 AM, mleheel Alley,alley poyner arddte)ure,Loden 1 ^ I I I _ I ^ I - I I I ^ I - I - - • — •§m-I I� "Is dz< IMF m Q II _ T i 20 . 11 '. I °"/ ille . _ _ LIPIANIAL _ A -I 14 it ,---- r .. . . A 1�► , di - 1zri . e ilkai _ LiIi - I I ^ I I _ , . , a BASEMENT LEVEL FLOOR PLAN p,1 . 9. ;rr Fero C'}F .'T.^7 pj, t.. xs I" a ,";: zo Lip o O 7. a Z. �'I la 'y•� Ei G. @ ,i a ' tj]. m i 9OG N I pp A \ m 22. I X '''4I m 1'• t% "1 / D \1 o f . I c41 n D I tr I a /IRI \ OP '- mR mo N v"m 5 S00.O0'13V _O 4T(P146_ (A)� -- ]a .D 1�I ,, Ate=x I O O9YYT f o ) .9S00°00'43"W= r 2 9 o�- SO: S 1 (A) p _i - O E.N m m i-to- 46.95'(A) zHt 0 1- 0 42 1O I 0 • - - -- -- pm -10 L.mq o 1 o I I 0N 1 1 1 g. — I� -1ii T I I o .4 — 9�Fs -- I rl o a v 0 gi v^�• 25TH AVENUE sm srS Ai g s SA 151, (":::„....- ri of m 0 m ' S?� m m$ I -2 1 UI j rn 5. € E I g � Z gJ 4?_ � � c 1 - 4 : g LA N Z N z inm o m —� �,- "$' y 3 Z m 3 ,,(--r-'' ----'...) q. ci Cn G7 I HcZ7 ZP�1-1 -a m . //// 2 1 r ltl9d)A00S J ln).Z0LY(d).19 IV).06'691 ldl,091 (bald).00 L1'! 3.60,00.00N 3.6000,009 3.66.0O.00N 3.60,OOs00N' -` .L22 .LS H19Z - . f u e 310H 111110 11V.I.S a V. .Y -- -- -- H11M.X.031SIH+_-_ - - -- - - Y 1' )13019 G > - rN OO2���it60i I Ovp am n pI ' 6. � NO S z I 14 s 0 I 8 1' 3 I fa 5 5 5 g provements now or hereafter entered into and all right, title and interest of Trustor thereunder, including without limitation, cash or securities deposited thereunder to secure performance by tenants, lessees or licensees, as applicable, of their obligations thereunder; (f) all building materials and supplies now or hereafter placed on the Real Estate or in the Improvements; (g) all proceeds of the conversion,voluntary or involuntary, of any of the foregoing into cash or liquidated claims, including, without limitation, proceeds of insurance and condemnation awards;and(h)all other or greater rights and interests of every nature in the Real Estate and the Improvements and in the possession or use thereof and income therefrom, whether now owned or subsequently acquired by Trustor. The property so conveyed hereunder is hereinafter referred to as "such property". After filing return to: Omaha Planning Department Attn: Dave Tollefsrud 1819 Farnam Street, Suite 1111 Omaha, NE 68183 hio • Brookhaven National Laboratory, Upton, New York • Charles Stark Draper Laboratory, Incorporated, Cambridge, Massachusetts • CNA Corporation (CNAC), Alexandria, Virginia • Environmental Institute of Michigan,Ann Arbor, Michigan • Georgia Institute of Technology/Georgia Tech Applied Research Corporation/Georgia Tech Research Institute, Atlanta, Georgia • Hanford Environmental Health Foundation, Richland, Washington ight to free use of the patent or copyright. t21 The patent or coovriaht has been adiudicated to be invalid. or has been administratively determined to be • Costs incurred for improvements which add to the permanent value of the buildings and equipment or appreciably prolong their intended life shall be treated as capital expenditures (see paragraph 15). 28. Materials and supplies costs. a. Costs incurred for materials. suoolies. and fabricated Darts necessary to carry out a Federal award are buildings, shall be allocated to the individual functions performed in each building on the basis of usable square feet of space, excluding common areas, such as hallways, stairwells, and restrooms. (c) Depreciation or use allowances on buildings, capital improvements and equipment related space (e.g., individual rooms, and laboratories) used jointly by more than one function (as determined by the ..-,.�,. ..1♦L.. \ L...11 L� ♦-..�l�J �- /.,11-...� TL- ..--a -[ .. -L :�:� I.. ..-�J ..-:♦ -1 -��II J l2004,1044)50;e7 1115..:111plor=lagiV050_Al 1 chyg PS 24 x M.3/30/200511 54 33 AM. nShopoy e I 4 I , I 4 I 4' I '' I - ^ I .4 I ^ I A I . . . • A • - - • — .. •• .. . AAA § gq CI — •-' I e jif e - • ' li W r" _ " — nA `,% At,. . a .P, O F t.',& fj; r7, CFI ji- I I BM' 0 I I,® _ 0;1 , , 11a•- X --0 Ed‘V1 r'i :I= I ® -. - i 1 I, ^ MIME •• rg..4.1:A ' 1111210: - " — [ ..,t. _111 ,... — — ifftier I ® --7T-co ... . — - - LV V 11,(Lill V - . . V =4;111111 i , , - .0110Tht AIIII Ili 1 V 0 - _j_, 4.... _ —MI _ ka 4, . = 111221°E i 9111 Ett*„ tAlpirdi II® .0 .9--in Ir..nay,v.A,•_ __I _ _ • A y 0-1 He = El T 4: = _ . - .--r=fir ''',154 I. r 3:10L-Eil _ MI i _ E Mil ,,,.. 01 -44 *ID-1- .,, . - - - I - - I - I - 1 - I ,. 1 . I - I - 1 - MAIN LEVEL FLOOR PLAN :.'' on E =:: .)---, 7. 1 • -3 elr . 1 : tri. rl o a v 0 gi v^�• 25TH AVENUE sm srS Ai g s SA 151, (":::„....- ri of m 0 m ' S?� m m$ I -2 1 UI j rn 5. € E I g � Z gJ 4?_ � � c 1 - 4 : g LA N Z N z inm o m —� �,- "$' y 3 Z m 3 ,,(--r-'' ----'...) q. ci Cn G7 I HcZ7 ZP�1-1 -a m . //// 2 1 r ltl9d)A00S J ln).Z0LY(d).19 IV).06'691 ldl,091 (bald).00 L1'! 3.60,00.00N 3.6000,009 3.66.0O.00N 3.60,OOs00N' -` .L22 .LS H19Z - . f u e 310H 111110 11V.I.S a V. .Y -- -- -- H11M.X.031SIH+_-_ - - -- - - Y 1' )13019 G > - rN OO2���it60i I Ovp am n pI ' 6. � NO S z I 14 s 0 I 8 1' 3 I fa 5 5 5 g provements now or hereafter entered into and all right, title and interest of Trustor thereunder, including without limitation, cash or securities deposited thereunder to secure performance by tenants, lessees or licensees, as applicable, of their obligations thereunder; (f) all building materials and supplies now or hereafter placed on the Real Estate or in the Improvements; (g) all proceeds of the conversion,voluntary or involuntary, of any of the foregoing into cash or liquidated claims, including, without limitation, proceeds of insurance and condemnation awards;and(h)all other or greater rights and interests of every nature in the Real Estate and the Improvements and in the possession or use thereof and income therefrom, whether now owned or subsequently acquired by Trustor. The property so conveyed hereunder is hereinafter referred to as "such property". After filing return to: Omaha Planning Department Attn: Dave Tollefsrud 1819 Farnam Street, Suite 1111 Omaha, NE 68183 hio • Brookhaven National Laboratory, Upton, New York • Charles Stark Draper Laboratory, Incorporated, Cambridge, Massachusetts • CNA Corporation (CNAC), Alexandria, Virginia • Environmental Institute of Michigan,Ann Arbor, Michigan • Georgia Institute of Technology/Georgia Tech Applied Research Corporation/Georgia Tech Research Institute, Atlanta, Georgia • Hanford Environmental Health Foundation, Richland, Washington ight to free use of the patent or copyright. t21 The patent or coovriaht has been adiudicated to be invalid. or has been administratively determined to be • Costs incurred for improvements which add to the permanent value of the buildings and equipment or appreciably prolong their intended life shall be treated as capital expenditures (see paragraph 15). 28. Materials and supplies costs. a. Costs incurred for materials. suoolies. and fabricated Darts necessary to carry out a Federal award are buildings, shall be allocated to the individual functions performed in each building on the basis of usable square feet of space, excluding common areas, such as hallways, stairwells, and restrooms. (c) Depreciation or use allowances on buildings, capital improvements and equipment related space (e.g., individual rooms, and laboratories) used jointly by more than one function (as determined by the ..-,.�,. ..1♦L.. \ L...11 L� ♦-..�l�J �- /.,11-...� TL- ..--a -[ .. -L :�:� I.. ..-�J ..-:♦ -1 -��II J:12DD411:11050-The Min Athelone\Drawings\4050 A1.2.eln.PS 24 x 3S.3I30.200511:56:14 AM, • michael alley,May peyner architecture.Lorden I I I - I I ^ I - I .. I . I n I - I . AAA 1t; 115 m FiE ti (n „0''. Pet= Eit aZ e ■ I 1 iIl 1 0 - Ie 3 KF h v .IN - 4 ru I Ico 0 al r 3z=■1 1�=3:1, - - g N.': ' t 07T747 ',T7 I et ThT I® 4!) ®• :ego _ A1 U111 _ 0���: 0= a :I® - B 1.a lill (Ylllltl vl a - 0I - RN co. to . A _ 0 . 'U: - .,As ,.,5.,. 0 Ael :, _ :::, ,, 1 _.02_, ..II till ie - -ma y' 711 • —' 1we . _ e m Em• 1=1 OI e _ .© 0d - A - • - 1 " I - I _ I I - I I - 1 I I - 1 SECOND LEVEL FLOOR PLAN : x' A . reo I ` g N i : cue3. E: "c' C= 2 j /i 4 aC 2t`:1. Tit' : c ,,,.. 01 -44 *ID-1- .,, . - - - I - - I - I - 1 - I ,. 1 . I - I - 1 - MAIN LEVEL FLOOR PLAN :.'' on E =:: .)---, 7. 1 • -3 elr . 1 : tri. rl o a v 0 gi v^�• 25TH AVENUE sm srS Ai g s SA 151, (":::„....- ri of m 0 m ' S?� m m$ I -2 1 UI j rn 5. € E I g � Z gJ 4?_ � � c 1 - 4 : g LA N Z N z inm o m —� �,- "$' y 3 Z m 3 ,,(--r-'' ----'...) q. ci Cn G7 I HcZ7 ZP�1-1 -a m . //// 2 1 r ltl9d)A00S J ln).Z0LY(d).19 IV).06'691 ldl,091 (bald).00 L1'! 3.60,00.00N 3.6000,009 3.66.0O.00N 3.60,OOs00N' -` .L22 .LS H19Z - . f u e 310H 111110 11V.I.S a V. .Y -- -- -- H11M.X.031SIH+_-_ - - -- - - Y 1' )13019 G > - rN OO2���it60i I Ovp am n pI ' 6. � NO S z I 14 s 0 I 8 1' 3 I fa 5 5 5 g provements now or hereafter entered into and all right, title and interest of Trustor thereunder, including without limitation, cash or securities deposited thereunder to secure performance by tenants, lessees or licensees, as applicable, of their obligations thereunder; (f) all building materials and supplies now or hereafter placed on the Real Estate or in the Improvements; (g) all proceeds of the conversion,voluntary or involuntary, of any of the foregoing into cash or liquidated claims, including, without limitation, proceeds of insurance and condemnation awards;and(h)all other or greater rights and interests of every nature in the Real Estate and the Improvements and in the possession or use thereof and income therefrom, whether now owned or subsequently acquired by Trustor. The property so conveyed hereunder is hereinafter referred to as "such property". After filing return to: Omaha Planning Department Attn: Dave Tollefsrud 1819 Farnam Street, Suite 1111 Omaha, NE 68183 hio • Brookhaven National Laboratory, Upton, New York • Charles Stark Draper Laboratory, Incorporated, Cambridge, Massachusetts • CNA Corporation (CNAC), Alexandria, Virginia • Environmental Institute of Michigan,Ann Arbor, Michigan • Georgia Institute of Technology/Georgia Tech Applied Research Corporation/Georgia Tech Research Institute, Atlanta, Georgia • Hanford Environmental Health Foundation, Richland, Washington ight to free use of the patent or copyright. t21 The patent or coovriaht has been adiudicated to be invalid. or has been administratively determined to be • Costs incurred for improvements which add to the permanent value of the buildings and equipment or appreciably prolong their intended life shall be treated as capital expenditures (see paragraph 15). 28. Materials and supplies costs. a. Costs incurred for materials. suoolies. and fabricated Darts necessary to carry out a Federal award are buildings, shall be allocated to the individual functions performed in each building on the basis of usable square feet of space, excluding common areas, such as hallways, stairwells, and restrooms. (c) Depreciation or use allowances on buildings, capital improvements and equipment related space (e.g., individual rooms, and laboratories) used jointly by more than one function (as determined by the ..-,.�,. ..1♦L.. \ L...11 L� ♦-..�l�J �- /.,11-...� TL- ..--a -[ .. -L :�:� I.. ..-�J ..-:♦ -1 -��II A A • J:12004‘0e050-The Hill AlhelonelDrewingsl 4050_A1.3.dwg,P5 26 a 36.3/30200511:57:16 AM, mid/eel alley,alley poyner eraAeecwre•Loden I - I - I - I I .. I - .l I I I - I - 0 o A o _ m �< - * 4 0 c � � •. im Z o I T 1 o - P ; • V 11 _ ini II I Hi ii III - = Oil l�°® Ilo ... • - • e v ���Or 110 - E>.• ,,-ki-11-1*/31 IL o I I-- IaS---1 * a I ® O �,i�. o - _ of t:■_IIhI I.® _ paw v go o IF o • 0 I I - 1 I I - l - I 1 I - I I THIRD LEVEL FLOOR PLAN 't7 •: .Tl' 6 W cr"M : x; mo �5 e m Em• 1=1 OI e _ .© 0d - A - • - 1 " I - I _ I I - I I - 1 I I - 1 SECOND LEVEL FLOOR PLAN : x' A . reo I ` g N i : cue3. E: "c' C= 2 j /i 4 aC 2t`:1. Tit' : c ,,,.. 01 -44 *ID-1- .,, . - - - I - - I - I - 1 - I ,. 1 . I - I - 1 - MAIN LEVEL FLOOR PLAN :.'' on E =:: .)---, 7. 1 • -3 elr . 1 : tri. rl o a v 0 gi v^�• 25TH AVENUE sm srS Ai g s SA 151, (":::„....- ri of m 0 m ' S?� m m$ I -2 1 UI j rn 5. € E I g � Z gJ 4?_ � � c 1 - 4 : g LA N Z N z inm o m —� �,- "$' y 3 Z m 3 ,,(--r-'' ----'...) q. ci Cn G7 I HcZ7 ZP�1-1 -a m . //// 2 1 r ltl9d)A00S J ln).Z0LY(d).19 IV).06'691 ldl,091 (bald).00 L1'! 3.60,00.00N 3.6000,009 3.66.0O.00N 3.60,OOs00N' -` .L22 .LS H19Z - . f u e 310H 111110 11V.I.S a V. .Y -- -- -- H11M.X.031SIH+_-_ - - -- - - Y 1' )13019 G > - rN OO2���it60i I Ovp am n pI ' 6. � NO S z I 14 s 0 I 8 1' 3 I fa 5 5 5 g provements now or hereafter entered into and all right, title and interest of Trustor thereunder, including without limitation, cash or securities deposited thereunder to secure performance by tenants, lessees or licensees, as applicable, of their obligations thereunder; (f) all building materials and supplies now or hereafter placed on the Real Estate or in the Improvements; (g) all proceeds of the conversion,voluntary or involuntary, of any of the foregoing into cash or liquidated claims, including, without limitation, proceeds of insurance and condemnation awards;and(h)all other or greater rights and interests of every nature in the Real Estate and the Improvements and in the possession or use thereof and income therefrom, whether now owned or subsequently acquired by Trustor. The property so conveyed hereunder is hereinafter referred to as "such property". After filing return to: Omaha Planning Department Attn: Dave Tollefsrud 1819 Farnam Street, Suite 1111 Omaha, NE 68183 hio • Brookhaven National Laboratory, Upton, New York • Charles Stark Draper Laboratory, Incorporated, Cambridge, Massachusetts • CNA Corporation (CNAC), Alexandria, Virginia • Environmental Institute of Michigan,Ann Arbor, Michigan • Georgia Institute of Technology/Georgia Tech Applied Research Corporation/Georgia Tech Research Institute, Atlanta, Georgia • Hanford Environmental Health Foundation, Richland, Washington ight to free use of the patent or copyright. t21 The patent or coovriaht has been adiudicated to be invalid. or has been administratively determined to be • Costs incurred for improvements which add to the permanent value of the buildings and equipment or appreciably prolong their intended life shall be treated as capital expenditures (see paragraph 15). 28. Materials and supplies costs. a. Costs incurred for materials. suoolies. and fabricated Darts necessary to carry out a Federal award are buildings, shall be allocated to the individual functions performed in each building on the basis of usable square feet of space, excluding common areas, such as hallways, stairwells, and restrooms. (c) Depreciation or use allowances on buildings, capital improvements and equipment related space (e.g., individual rooms, and laboratories) used jointly by more than one function (as determined by the ..-,.�,. ..1♦L.. \ L...11 L� ♦-..�l�J �- /.,11-...� TL- ..--a -[ .. -L :�:� I.. ..-�J ..-:♦ -1 -��II DETAILED PROJECT DESCRIPTION General Information: Developer: Tim Steinbach Current Owner: Revitalize Omaha do Urban Omaha Real Estate • 517 South 13th Street Omaha,NE 68102 • Current Taxes: $6,121.54 (Athlone) $3,372.22 (Hudson) $3,377.76 (Douglas) The proposed project, which will be known as The Hill, involves rehabilitation and renovation of the Athlone, Douglas and Hudson Buildings located at 26th Avenue and Douglas Street. The Athlone building has most recently been comprised of Section 8 housing in the form of 26 small one-bedroom efficiency apartments. The planned renovation will convert it from its present state, into 15 one and two bedroom condominiums. The Douglas and Hudson buildings will each have six one-bedroom units, instead of the seven units housed previously. For the Athlone, the developer intends to maintain the integrity of the exterior. The brick exteriors of the Douglas and Hudson buildings have been repainted to complement the Athlone. This has provided a more unified appearance, as well as greatly improving their attractiveness. The windows of the Athlone will be replaced and the broken cornice sections will be restored. In addition, the developer plans to install new sidewalks with tree boxes where the sidewalk width will allow. A wrought iron fence will surround the property and a security entrance will be installed as indicated on the exterior elevation attached hereto as Exhibit"B". A parking lot with seventeen (17) stalls is located behind the building. This lot is accessible from Paxton Court and will be repaved. An illustration of this lot is also attached hereto as Exhibit "B". Located on the northwest corner of Douglas and 25th Avenue, across the street from the Athlone, is an additional parking lot that has thirty-two (32) stalls. The developer has secured a twenty-year lease for both lots for The Hill residents' exclusive use. The fifteen units in the Athlone will consist of twelve (12) one-bedroom units with 900 square feet each and three (3) two-bedroom, two bathroom units with 1,200 square feet each. A floor plan for both the one and two-bedroom units are attached hereto as Exhibit "C". The Douglas 2 1 - 4 : g LA N Z N z inm o m —� �,- "$' y 3 Z m 3 ,,(--r-'' ----'...) q. ci Cn G7 I HcZ7 ZP�1-1 -a m . //// 2 1 r ltl9d)A00S J ln).Z0LY(d).19 IV).06'691 ldl,091 (bald).00 L1'! 3.60,00.00N 3.6000,009 3.66.0O.00N 3.60,OOs00N' -` .L22 .LS H19Z - . f u e 310H 111110 11V.I.S a V. .Y -- -- -- H11M.X.031SIH+_-_ - - -- - - Y 1' )13019 G > - rN OO2���it60i I Ovp am n pI ' 6. � NO S z I 14 s 0 I 8 1' 3 I fa 5 5 5 g provements now or hereafter entered into and all right, title and interest of Trustor thereunder, including without limitation, cash or securities deposited thereunder to secure performance by tenants, lessees or licensees, as applicable, of their obligations thereunder; (f) all building materials and supplies now or hereafter placed on the Real Estate or in the Improvements; (g) all proceeds of the conversion,voluntary or involuntary, of any of the foregoing into cash or liquidated claims, including, without limitation, proceeds of insurance and condemnation awards;and(h)all other or greater rights and interests of every nature in the Real Estate and the Improvements and in the possession or use thereof and income therefrom, whether now owned or subsequently acquired by Trustor. The property so conveyed hereunder is hereinafter referred to as "such property". After filing return to: Omaha Planning Department Attn: Dave Tollefsrud 1819 Farnam Street, Suite 1111 Omaha, NE 68183 hio • Brookhaven National Laboratory, Upton, New York • Charles Stark Draper Laboratory, Incorporated, Cambridge, Massachusetts • CNA Corporation (CNAC), Alexandria, Virginia • Environmental Institute of Michigan,Ann Arbor, Michigan • Georgia Institute of Technology/Georgia Tech Applied Research Corporation/Georgia Tech Research Institute, Atlanta, Georgia • Hanford Environmental Health Foundation, Richland, Washington ight to free use of the patent or copyright. t21 The patent or coovriaht has been adiudicated to be invalid. or has been administratively determined to be • Costs incurred for improvements which add to the permanent value of the buildings and equipment or appreciably prolong their intended life shall be treated as capital expenditures (see paragraph 15). 28. Materials and supplies costs. a. Costs incurred for materials. suoolies. and fabricated Darts necessary to carry out a Federal award are buildings, shall be allocated to the individual functions performed in each building on the basis of usable square feet of space, excluding common areas, such as hallways, stairwells, and restrooms. (c) Depreciation or use allowances on buildings, capital improvements and equipment related space (e.g., individual rooms, and laboratories) used jointly by more than one function (as determined by the ..-,.�,. ..1♦L.. \ L...11 L� ♦-..�l�J �- /.,11-...� TL- ..--a -[ .. -L :�:� I.. ..-�J ..-:♦ -1 -��II •r • • and Hudson Buildings will have a total of twelve (12) one-bedroom units (six in each building) at approximately 900 square feet apiece. Exposed brick walls will help maintain the urban feel and the interior spaces will have Bamboo floors imported directly from China. "Green friendly" Bamboo offers beautiful and durable flooring while being one of nature's most renewable resources. The bathrooms will have Travertine tile. The kitchens will feature Maple cabinetry and all appliances including refrigerator, range, dishwasher, and washer/dryer will be part of the purchase price. In addition, a fitness facility will be installed in the basement of the Ahtlone. FINANCING PLAN AND PRELIMINARY FINANCING COMMITMENT The developer estimates the total cost of the project, including site acquisition, will equal or exceed 2,836,381 as demonstrated in the budget and pro-forma attached hereto as A private equity investor has loaned the project $400,000 in cash which was used as the 20% down payment to purchase all three buildings. In addition, the developer has had preliminary discussions with First Westroads Bank to secure financing. A letter indicating as such is has been received. The lender has indicated that the bank's approval of the necessary financing is contingent upon approval of the TIF request. • STATEMENT AND DEMONSTRATION THAT PROJECT WOULD NOT PROCEED WITHOUT TIF As shown, the estimated project cost will 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 or provide any return on invested equity. Furthermore, the necessary bank financing will not be authorized without approval of TIF. Without TIF, the developer would not have sufficient funds to complete the project, nor would financing be available. 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. EVIDENCE THAT PROJECT MEETS EVALUATION CRITERIA 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 a presently designated blighted area: "Area A - North Omaha and Downtown Omaha", 3 (bald).00 L1'! 3.60,00.00N 3.6000,009 3.66.0O.00N 3.60,OOs00N' -` .L22 .LS H19Z - . f u e 310H 111110 11V.I.S a V. .Y -- -- -- H11M.X.031SIH+_-_ - - -- - - Y 1' )13019 G > - rN OO2���it60i I Ovp am n pI ' 6. � NO S z I 14 s 0 I 8 1' 3 I fa 5 5 5 g provements now or hereafter entered into and all right, title and interest of Trustor thereunder, including without limitation, cash or securities deposited thereunder to secure performance by tenants, lessees or licensees, as applicable, of their obligations thereunder; (f) all building materials and supplies now or hereafter placed on the Real Estate or in the Improvements; (g) all proceeds of the conversion,voluntary or involuntary, of any of the foregoing into cash or liquidated claims, including, without limitation, proceeds of insurance and condemnation awards;and(h)all other or greater rights and interests of every nature in the Real Estate and the Improvements and in the possession or use thereof and income therefrom, whether now owned or subsequently acquired by Trustor. The property so conveyed hereunder is hereinafter referred to as "such property". After filing return to: Omaha Planning Department Attn: Dave Tollefsrud 1819 Farnam Street, Suite 1111 Omaha, NE 68183 hio • Brookhaven National Laboratory, Upton, New York • Charles Stark Draper Laboratory, Incorporated, Cambridge, Massachusetts • CNA Corporation (CNAC), Alexandria, Virginia • Environmental Institute of Michigan,Ann Arbor, Michigan • Georgia Institute of Technology/Georgia Tech Applied Research Corporation/Georgia Tech Research Institute, Atlanta, Georgia • Hanford Environmental Health Foundation, Richland, Washington ight to free use of the patent or copyright. t21 The patent or coovriaht has been adiudicated to be invalid. or has been administratively determined to be • Costs incurred for improvements which add to the permanent value of the buildings and equipment or appreciably prolong their intended life shall be treated as capital expenditures (see paragraph 15). 28. Materials and supplies costs. a. Costs incurred for materials. suoolies. and fabricated Darts necessary to carry out a Federal award are buildings, shall be allocated to the individual functions performed in each building on the basis of usable square feet of space, excluding common areas, such as hallways, stairwells, and restrooms. (c) Depreciation or use allowances on buildings, capital improvements and equipment related space (e.g., individual rooms, and laboratories) used jointly by more than one function (as determined by the ..-,.�,. ..1♦L.. \ L...11 L� ♦-..�l�J �- /.,11-...� TL- ..--a -[ .. -L :�:� I.. ..-�J ..-:♦ -1 -��II b. The project must further the objectives of the City's Comprehensive Plan. The Project results in further development of vacant, unused and deteriorating spaces in buildings located in Downtown Omaha. The Project will create residential uses, with associated parking and public improvements, increasing the tax base of Downtown and adding to the supply of quality residential, owner occupied housing in the area. The Project will stimulate further development of deteriorating areas west of the Old Market area as well as rehabilitate dilapidated buildings in infill areas that currently produce little to no tax revenue. 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 demonstrated, and as previously indicated, the Project would not be economically feasible without the use of tax increment financing. Further, bank financing is contingent upon the approval of the TIF request. Without TIF, the Developer will 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 and vacancy. The Project is located in an area that has been neglected in the recent revitalization of downtown and the associated public improvements will restore an aura of prosperity to an area that has deteriorated substantially in past years. This Project involves renovating buildings in an area that will stimulate the rehabilitation of Downtown Omaha 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, buildings which have been deteriorating and used primarily as a place in which to conduct illegal transactions will be rehabilitated, occupied and put to productive use. The possibility of vandalism, fire and further structural deterioration, all associated with neglected and unoccupied urban property will be reduced or removed. The project meets the mandatory criteria set forth in the Tax Increment Financing Guidelines issued by the City of Omaha: 4 10 11V.I.S a V. .Y -- -- -- H11M.X.031SIH+_-_ - - -- - - Y 1' )13019 G > - rN OO2���it60i I Ovp am n pI ' 6. � NO S z I 14 s 0 I 8 1' 3 I fa 5 5 5 g provements now or hereafter entered into and all right, title and interest of Trustor thereunder, including without limitation, cash or securities deposited thereunder to secure performance by tenants, lessees or licensees, as applicable, of their obligations thereunder; (f) all building materials and supplies now or hereafter placed on the Real Estate or in the Improvements; (g) all proceeds of the conversion,voluntary or involuntary, of any of the foregoing into cash or liquidated claims, including, without limitation, proceeds of insurance and condemnation awards;and(h)all other or greater rights and interests of every nature in the Real Estate and the Improvements and in the possession or use thereof and income therefrom, whether now owned or subsequently acquired by Trustor. The property so conveyed hereunder is hereinafter referred to as "such property". After filing return to: Omaha Planning Department Attn: Dave Tollefsrud 1819 Farnam Street, Suite 1111 Omaha, NE 68183 hio • Brookhaven National Laboratory, Upton, New York • Charles Stark Draper Laboratory, Incorporated, Cambridge, Massachusetts • CNA Corporation (CNAC), Alexandria, Virginia • Environmental Institute of Michigan,Ann Arbor, Michigan • Georgia Institute of Technology/Georgia Tech Applied Research Corporation/Georgia Tech Research Institute, Atlanta, Georgia • Hanford Environmental Health Foundation, Richland, Washington ight to free use of the patent or copyright. t21 The patent or coovriaht has been adiudicated to be invalid. or has been administratively determined to be • Costs incurred for improvements which add to the permanent value of the buildings and equipment or appreciably prolong their intended life shall be treated as capital expenditures (see paragraph 15). 28. Materials and supplies costs. a. Costs incurred for materials. suoolies. and fabricated Darts necessary to carry out a Federal award are buildings, shall be allocated to the individual functions performed in each building on the basis of usable square feet of space, excluding common areas, such as hallways, stairwells, and restrooms. (c) Depreciation or use allowances on buildings, capital improvements and equipment related space (e.g., individual rooms, and laboratories) used jointly by more than one function (as determined by the ..-,.�,. ..1♦L.. \ L...11 L� ♦-..�l�J �- /.,11-...� TL- ..--a -[ .. -L :�:� I.. ..-�J ..-:♦ -1 -��II 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. Project is located within "Area A - North Omaha and Downtown Omaha", which is included in the City's TIF guidelines as a qualified area for discretionary criteria. b. Conditions of Blight. The buildings in the Project display conditions of blight and constitute an economic and social liability, detrimental to Downtown Omaha. c. Start up of entirely new business operation. Upon completion of the proposed improvements, an entirely new residential development consisting of owner occupied housing will result from substantially underused 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. Cost Benefit Analysis: The request meets the necessary requirements for consideration. The site is in an area that meets the requirements to be declared Substandard and Blighted. The TIF proceeds are to be used to cover any public improvement cost with the remaining balance of the TIF to be used for project specific eligible cost. The site is currently vacant with marginal tax value as the property is centrally assessed. The project will bring a new housing to fill gap in pricing of current condo conversions in Downtown Omaha. The site is not being utilized at the fullest and best economic use as the building is vacant and in poor condition. The use of Tax Increment Financing will not result in tax shifts. The • current level of taxes will continue to flow to the current taxing entities and only the increased value of revenues resulting from the improvements will be applied to the cost of the improvement. No community public service need will be generated as a result of this project. The proposed TIF will be used to offset acquisition, demolition, and public improvement cost and to defray site development cost which are eligible activities. The development of this site will provide employment by increasing the demand for personal services and employees to provide services. This development will impact other businesses, as there will be an increase in 5 or removed. The project meets the mandatory criteria set forth in the Tax Increment Financing Guidelines issued by the City of Omaha: 4 10 11V.I.S a V. .Y -- -- -- H11M.X.031SIH+_-_ - - -- - - Y 1' )13019 G > - rN OO2���it60i I Ovp am n pI ' 6. � NO S z I 14 s 0 I 8 1' 3 I fa 5 5 5 g provements now or hereafter entered into and all right, title and interest of Trustor thereunder, including without limitation, cash or securities deposited thereunder to secure performance by tenants, lessees or licensees, as applicable, of their obligations thereunder; (f) all building materials and supplies now or hereafter placed on the Real Estate or in the Improvements; (g) all proceeds of the conversion,voluntary or involuntary, of any of the foregoing into cash or liquidated claims, including, without limitation, proceeds of insurance and condemnation awards;and(h)all other or greater rights and interests of every nature in the Real Estate and the Improvements and in the possession or use thereof and income therefrom, whether now owned or subsequently acquired by Trustor. The property so conveyed hereunder is hereinafter referred to as "such property". After filing return to: Omaha Planning Department Attn: Dave Tollefsrud 1819 Farnam Street, Suite 1111 Omaha, NE 68183 hio • Brookhaven National Laboratory, Upton, New York • Charles Stark Draper Laboratory, Incorporated, Cambridge, Massachusetts • CNA Corporation (CNAC), Alexandria, Virginia • Environmental Institute of Michigan,Ann Arbor, Michigan • Georgia Institute of Technology/Georgia Tech Applied Research Corporation/Georgia Tech Research Institute, Atlanta, Georgia • Hanford Environmental Health Foundation, Richland, Washington ight to free use of the patent or copyright. t21 The patent or coovriaht has been adiudicated to be invalid. or has been administratively determined to be • Costs incurred for improvements which add to the permanent value of the buildings and equipment or appreciably prolong their intended life shall be treated as capital expenditures (see paragraph 15). 28. Materials and supplies costs. a. Costs incurred for materials. suoolies. and fabricated Darts necessary to carry out a Federal award are buildings, shall be allocated to the individual functions performed in each building on the basis of usable square feet of space, excluding common areas, such as hallways, stairwells, and restrooms. (c) Depreciation or use allowances on buildings, capital improvements and equipment related space (e.g., individual rooms, and laboratories) used jointly by more than one function (as determined by the ..-,.�,. ..1♦L.. \ L...11 L� ♦-..�l�J �- /.,11-...� TL- ..--a -[ .. -L :�:� I.. ..-�J ..-:♦ -1 -��II the demand for employees to fill the employment opportunities created by this development. The elimination of the substandard and blight 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 this area, however it will cause a corresponding reduction in traffic in other areas by providing housing and employment which will reduce the out-flow of people and of dollars from the area. The current street system is able to accommodate the development. 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 substandard and blight condition and the increase in the tax base resulting from the development are other valid justifications to provide assistance to the project PROJECT SITE AND BUILDING PLANS /DEVELOPMENT SCHEDULE Contingent upon approval of the TIF request, the Developer is prepared to proceed with the Project upon securing satisfactory financing. Project plans and specifications have been prepared and bids have been submitted for selection. The budget for the project utilizes the bid submitted by the Boland Group. If TIF is approved and financing is secured, construction could commence as early as February 2006 and be complete by the end of July 2006. PUBLIC IMPROVEMENTS TO BE INCORPORATED IN PROJECT Developer will install new sidewalks and repave the parking lot located behind the building. In addition, while considering restrictions in sidewalk width, Developer will install sidewalk tree boxes and landscaping where possible. DEVELOPER INFORMATION Tim Steinbach returned to Nebraska in October of 2003 after several years in Seattle, Washington where he marketed Downtown, Belltown and Queen Anne area condos with John L. • Scott Real Estate. Soon after returning he founded Urban Omaha Real Estate with two partners Tasha Henninger and Jennifer Hellman. While with Urban Omaha Tim consulted and marketed for The Jackson Square condos at 18th and Jackson, The Regis building condos at 312 S. 16th, the Brandeis condos at 16th and Douglas, and The Farnam 1600 condos at 16th and Farnam. Since selling his portion of Urban Omaha in April 2005, Tim has marketed the 1101 Jackson Condos at 1 lth and Jackson in the Old Market, The Gold Coast condos at 3710 Harney and The 6 ndatory criteria set forth in the Tax Increment Financing Guidelines issued by the City of Omaha: 4 10 11V.I.S a V. .Y -- -- -- H11M.X.031SIH+_-_ - - -- - - Y 1' )13019 G > - rN OO2���it60i I Ovp am n pI ' 6. � NO S z I 14 s 0 I 8 1' 3 I fa 5 5 5 g provements now or hereafter entered into and all right, title and interest of Trustor thereunder, including without limitation, cash or securities deposited thereunder to secure performance by tenants, lessees or licensees, as applicable, of their obligations thereunder; (f) all building materials and supplies now or hereafter placed on the Real Estate or in the Improvements; (g) all proceeds of the conversion,voluntary or involuntary, of any of the foregoing into cash or liquidated claims, including, without limitation, proceeds of insurance and condemnation awards;and(h)all other or greater rights and interests of every nature in the Real Estate and the Improvements and in the possession or use thereof and income therefrom, whether now owned or subsequently acquired by Trustor. The property so conveyed hereunder is hereinafter referred to as "such property". After filing return to: Omaha Planning Department Attn: Dave Tollefsrud 1819 Farnam Street, Suite 1111 Omaha, NE 68183 hio • Brookhaven National Laboratory, Upton, New York • Charles Stark Draper Laboratory, Incorporated, Cambridge, Massachusetts • CNA Corporation (CNAC), Alexandria, Virginia • Environmental Institute of Michigan,Ann Arbor, Michigan • Georgia Institute of Technology/Georgia Tech Applied Research Corporation/Georgia Tech Research Institute, Atlanta, Georgia • Hanford Environmental Health Foundation, Richland, Washington ight to free use of the patent or copyright. t21 The patent or coovriaht has been adiudicated to be invalid. or has been administratively determined to be • Costs incurred for improvements which add to the permanent value of the buildings and equipment or appreciably prolong their intended life shall be treated as capital expenditures (see paragraph 15). 28. Materials and supplies costs. a. Costs incurred for materials. suoolies. and fabricated Darts necessary to carry out a Federal award are buildings, shall be allocated to the individual functions performed in each building on the basis of usable square feet of space, excluding common areas, such as hallways, stairwells, and restrooms. (c) Depreciation or use allowances on buildings, capital improvements and equipment related space (e.g., individual rooms, and laboratories) used jointly by more than one function (as determined by the ..-,.�,. ..1♦L.. \ L...11 L� ♦-..�l�J �- /.,11-...� TL- ..--a -[ .. -L :�:� I.. ..-�J ..-:♦ -1 -��II • St. Clare condos at 2315 Harney. He is currently developing and marketing condo projects at 38th Ave and Cass, 19th and Jackson and The Hill at 26th Ave and Douglas. LEGAL DESCRIPTIONS The Athlone: 2567 Douglas Avenue Lot 10, Paxton Court, a Subdivision Located in the NE '/4 of Section 21, Township 15 North, Douglas County,Nebraska The Hudson: 207 South 26th Avenue Lot 9, Paxton Court, Subdivision Located in the NE '/4 of Section 21, Township 15 North, Douglas County,Nebraska The Douglas: 213 South 26th Avenue Lot 8, Paxton Court, Subdivision Located in the NE %of Section 21, Township 15 North, Douglas County,Nebraska ;_ . } .f 't•f1!_�•f�'`si� {I«+> R•f' �` ~V.!.I. I`_ _—` — �Pq,( � of + ! �. - ♦+1 ...J �-+r'a e 7r...-' ��a• d"•:� I 1 i •l 3at x k F. I {ITT i ` s — jd/ Lr' �i 1 -----• --F 0 i - .,--- ----4-.--zz_..--- -- .1 -r' '- : 'ima • --=-: .: •-41--"; --i" " 1. ...!!!_4-:4.0:- n,--- • ' 'M. 'Li' i . , ''.. -1."T 1 ) rif,a1.-31-11 n•4. - Fes- �f "— , (1 L�-$ L • ._ • ____ ___ ' \- --- S S PVT" ' i 7 submitted for selection. The budget for the project utilizes the bid submitted by the Boland Group. If TIF is approved and financing is secured, construction could commence as early as February 2006 and be complete by the end of July 2006. PUBLIC IMPROVEMENTS TO BE INCORPORATED IN PROJECT Developer will install new sidewalks and repave the parking lot located behind the building. In addition, while considering restrictions in sidewalk width, Developer will install sidewalk tree boxes and landscaping where possible. DEVELOPER INFORMATION Tim Steinbach returned to Nebraska in October of 2003 after several years in Seattle, Washington where he marketed Downtown, Belltown and Queen Anne area condos with John L. • Scott Real Estate. Soon after returning he founded Urban Omaha Real Estate with two partners Tasha Henninger and Jennifer Hellman. While with Urban Omaha Tim consulted and marketed for The Jackson Square condos at 18th and Jackson, The Regis building condos at 312 S. 16th, the Brandeis condos at 16th and Douglas, and The Farnam 1600 condos at 16th and Farnam. Since selling his portion of Urban Omaha in April 2005, Tim has marketed the 1101 Jackson Condos at 1 lth and Jackson in the Old Market, The Gold Coast condos at 3710 Harney and The 6 ndatory criteria set forth in the Tax Increment Financing Guidelines issued by the City of Omaha: 4 10 11V.I.S a V. .Y -- -- -- H11M.X.031SIH+_-_ - - -- - - Y 1' )13019 G > - rN OO2���it60i I Ovp am n pI ' 6. � NO S z I 14 s 0 I 8 1' 3 I fa 5 5 5 g provements now or hereafter entered into and all right, title and interest of Trustor thereunder, including without limitation, cash or securities deposited thereunder to secure performance by tenants, lessees or licensees, as applicable, of their obligations thereunder; (f) all building materials and supplies now or hereafter placed on the Real Estate or in the Improvements; (g) all proceeds of the conversion,voluntary or involuntary, of any of the foregoing into cash or liquidated claims, including, without limitation, proceeds of insurance and condemnation awards;and(h)all other or greater rights and interests of every nature in the Real Estate and the Improvements and in the possession or use thereof and income therefrom, whether now owned or subsequently acquired by Trustor. The property so conveyed hereunder is hereinafter referred to as "such property". After filing return to: Omaha Planning Department Attn: Dave Tollefsrud 1819 Farnam Street, Suite 1111 Omaha, NE 68183 hio • Brookhaven National Laboratory, Upton, New York • Charles Stark Draper Laboratory, Incorporated, Cambridge, Massachusetts • CNA Corporation (CNAC), Alexandria, Virginia • Environmental Institute of Michigan,Ann Arbor, Michigan • Georgia Institute of Technology/Georgia Tech Applied Research Corporation/Georgia Tech Research Institute, Atlanta, Georgia • Hanford Environmental Health Foundation, Richland, Washington ight to free use of the patent or copyright. t21 The patent or coovriaht has been adiudicated to be invalid. or has been administratively determined to be • Costs incurred for improvements which add to the permanent value of the buildings and equipment or appreciably prolong their intended life shall be treated as capital expenditures (see paragraph 15). 28. Materials and supplies costs. a. Costs incurred for materials. suoolies. and fabricated Darts necessary to carry out a Federal award are buildings, shall be allocated to the individual functions performed in each building on the basis of usable square feet of space, excluding common areas, such as hallways, stairwells, and restrooms. (c) Depreciation or use allowances on buildings, capital improvements and equipment related space (e.g., individual rooms, and laboratories) used jointly by more than one function (as determined by the ..-,.�,. ..1♦L.. \ L...11 L� ♦-..�l�J �- /.,11-...� TL- ..--a -[ .. -L :�:� I.. ..-�J ..-:♦ -1 -��II TAX INCREM FINANCING REQUEST THEENT • ATHLONE 2567 DOUGLAS OMAHA, NEBRASKA • EXTERIOR ELEVATION . • • a"a .r rtJm x: t` '' x sr � t: {,�• +�, r �:�} rrg>v,L sty .-,; a ;Y <., ?. y t • :5. t ar# 'pa s t °� us�+', :� � �� �Z 'S - 2 ��.SST���pr�� � � „ ,..ices; � .t2. '8"i '? s a pi 6 cs: In - b'; i. -+.:r .+. :, i - 5 ` 'P ` 4 t:fi� l` `. : k -� 1;(� i Ii i fke C F i i `¢}• ...�.f 'F W d tx, •i£e5G"Vi.'!t+.6 A +''f,�,sy"�- d4v f ��'': q� i ,.'' Y ' ., : , -? pJd$ . i M '3 • - ::.• .i. -1 A '^.A ',110E Iv EiX t re •' d x f6k- G2a -,t' 4,. r'Y — 5 . y zV ` s � .-+r` S � '': sY 1ai^ayi b tvu3pi ti - P z �> ' t -"Vc i iE'}pi 7 s A a '.',.'1 ''' � l+ y : mr aamra, 4 t v " a i; :au� k . 0a0 i7tiyy . 1- ^F t'1 4 a z .yNE r : z,i - t i ':, ' , ection. The budget for the project utilizes the bid submitted by the Boland Group. If TIF is approved and financing is secured, construction could commence as early as February 2006 and be complete by the end of July 2006. PUBLIC IMPROVEMENTS TO BE INCORPORATED IN PROJECT Developer will install new sidewalks and repave the parking lot located behind the building. In addition, while considering restrictions in sidewalk width, Developer will install sidewalk tree boxes and landscaping where possible. DEVELOPER INFORMATION Tim Steinbach returned to Nebraska in October of 2003 after several years in Seattle, Washington where he marketed Downtown, Belltown and Queen Anne area condos with John L. • Scott Real Estate. Soon after returning he founded Urban Omaha Real Estate with two partners Tasha Henninger and Jennifer Hellman. While with Urban Omaha Tim consulted and marketed for The Jackson Square condos at 18th and Jackson, The Regis building condos at 312 S. 16th, the Brandeis condos at 16th and Douglas, and The Farnam 1600 condos at 16th and Farnam. Since selling his portion of Urban Omaha in April 2005, Tim has marketed the 1101 Jackson Condos at 1 lth and Jackson in the Old Market, The Gold Coast condos at 3710 Harney and The 6 ndatory criteria set forth in the Tax Increment Financing Guidelines issued by the City of Omaha: 4 10 11V.I.S a V. .Y -- -- -- H11M.X.031SIH+_-_ - - -- - - Y 1' )13019 G > - rN OO2���it60i I Ovp am n pI ' 6. � NO S z I 14 s 0 I 8 1' 3 I fa 5 5 5 g provements now or hereafter entered into and all right, title and interest of Trustor thereunder, including without limitation, cash or securities deposited thereunder to secure performance by tenants, lessees or licensees, as applicable, of their obligations thereunder; (f) all building materials and supplies now or hereafter placed on the Real Estate or in the Improvements; (g) all proceeds of the conversion,voluntary or involuntary, of any of the foregoing into cash or liquidated claims, including, without limitation, proceeds of insurance and condemnation awards;and(h)all other or greater rights and interests of every nature in the Real Estate and the Improvements and in the possession or use thereof and income therefrom, whether now owned or subsequently acquired by Trustor. The property so conveyed hereunder is hereinafter referred to as "such property". After filing return to: Omaha Planning Department Attn: Dave Tollefsrud 1819 Farnam Street, Suite 1111 Omaha, NE 68183 hio • Brookhaven National Laboratory, Upton, New York • Charles Stark Draper Laboratory, Incorporated, Cambridge, Massachusetts • CNA Corporation (CNAC), Alexandria, Virginia • Environmental Institute of Michigan,Ann Arbor, Michigan • Georgia Institute of Technology/Georgia Tech Applied Research Corporation/Georgia Tech Research Institute, Atlanta, Georgia • Hanford Environmental Health Foundation, Richland, Washington ight to free use of the patent or copyright. t21 The patent or coovriaht has been adiudicated to be invalid. or has been administratively determined to be • Costs incurred for improvements which add to the permanent value of the buildings and equipment or appreciably prolong their intended life shall be treated as capital expenditures (see paragraph 15). 28. Materials and supplies costs. a. Costs incurred for materials. suoolies. and fabricated Darts necessary to carry out a Federal award are buildings, shall be allocated to the individual functions performed in each building on the basis of usable square feet of space, excluding common areas, such as hallways, stairwells, and restrooms. (c) Depreciation or use allowances on buildings, capital improvements and equipment related space (e.g., individual rooms, and laboratories) used jointly by more than one function (as determined by the ..-,.�,. ..1♦L.. \ L...11 L� ♦-..�l�J �- /.,11-...� TL- ..--a -[ .. -L :�:� I.. ..-�J ..-:♦ -1 -��II • BUDGET AND PROFORMA Project Expenses Acquisition Athlone 250,000 Hudson 217,000 Douglas 203,000 670,000 Total Construction Costs (incl. demolition, site prep and finish work)* 1,667,222 Engineering Architectural andg g Fees (est. at 5% of Hard Costs) 77,361 Contingency 119,722 Brokerage Fees (4%) 96,756 Legal Fees 25,000 Total Cost before Interest Expense 2,656,061 Interest Expense E. • 12 mo. Interest expense on Cash Loan @ 14% 56,000 • 12 mo. Interest Expense on Financing @ 7% 124,320 Total Interest Expense 180,320 Total Project Cost 2,836,381 Sources of Funds Equity Investor 400,000 Financing 1,800,000 Total Available Funds 2,200,000 Project Revenue The Athlone 12 Units @ 85,000 1,020,000 ($96/sq.ft.) 3 Units @ 131,000 393,000 (109/sq.ft.) The Douglas 6 Units @ 86,652 519,912 ($87/sq ft.) The Hudson 6 Units @ 81,000 486,000 ($90/sq.ft) Total Revenue 2,418,912 Total Project Cost 2,836,381 8 iyy . 1- ^F t'1 4 a z .yNE r : z,i - t i ':, ' , ection. The budget for the project utilizes the bid submitted by the Boland Group. If TIF is approved and financing is secured, construction could commence as early as February 2006 and be complete by the end of July 2006. PUBLIC IMPROVEMENTS TO BE INCORPORATED IN PROJECT Developer will install new sidewalks and repave the parking lot located behind the building. In addition, while considering restrictions in sidewalk width, Developer will install sidewalk tree boxes and landscaping where possible. DEVELOPER INFORMATION Tim Steinbach returned to Nebraska in October of 2003 after several years in Seattle, Washington where he marketed Downtown, Belltown and Queen Anne area condos with John L. • Scott Real Estate. Soon after returning he founded Urban Omaha Real Estate with two partners Tasha Henninger and Jennifer Hellman. While with Urban Omaha Tim consulted and marketed for The Jackson Square condos at 18th and Jackson, The Regis building condos at 312 S. 16th, the Brandeis condos at 16th and Douglas, and The Farnam 1600 condos at 16th and Farnam. Since selling his portion of Urban Omaha in April 2005, Tim has marketed the 1101 Jackson Condos at 1 lth and Jackson in the Old Market, The Gold Coast condos at 3710 Harney and The 6 ndatory criteria set forth in the Tax Increment Financing Guidelines issued by the City of Omaha: 4 10 11V.I.S a V. .Y -- -- -- H11M.X.031SIH+_-_ - - -- - - Y 1' )13019 G > - rN OO2���it60i I Ovp am n pI ' 6. � NO S z I 14 s 0 I 8 1' 3 I fa 5 5 5 g provements now or hereafter entered into and all right, title and interest of Trustor thereunder, including without limitation, cash or securities deposited thereunder to secure performance by tenants, lessees or licensees, as applicable, of their obligations thereunder; (f) all building materials and supplies now or hereafter placed on the Real Estate or in the Improvements; (g) all proceeds of the conversion,voluntary or involuntary, of any of the foregoing into cash or liquidated claims, including, without limitation, proceeds of insurance and condemnation awards;and(h)all other or greater rights and interests of every nature in the Real Estate and the Improvements and in the possession or use thereof and income therefrom, whether now owned or subsequently acquired by Trustor. The property so conveyed hereunder is hereinafter referred to as "such property". After filing return to: Omaha Planning Department Attn: Dave Tollefsrud 1819 Farnam Street, Suite 1111 Omaha, NE 68183 hio • Brookhaven National Laboratory, Upton, New York • Charles Stark Draper Laboratory, Incorporated, Cambridge, Massachusetts • CNA Corporation (CNAC), Alexandria, Virginia • Environmental Institute of Michigan,Ann Arbor, Michigan • Georgia Institute of Technology/Georgia Tech Applied Research Corporation/Georgia Tech Research Institute, Atlanta, Georgia • Hanford Environmental Health Foundation, Richland, Washington ight to free use of the patent or copyright. t21 The patent or coovriaht has been adiudicated to be invalid. or has been administratively determined to be • Costs incurred for improvements which add to the permanent value of the buildings and equipment or appreciably prolong their intended life shall be treated as capital expenditures (see paragraph 15). 28. Materials and supplies costs. a. Costs incurred for materials. suoolies. and fabricated Darts necessary to carry out a Federal award are buildings, shall be allocated to the individual functions performed in each building on the basis of usable square feet of space, excluding common areas, such as hallways, stairwells, and restrooms. (c) Depreciation or use allowances on buildings, capital improvements and equipment related space (e.g., individual rooms, and laboratories) used jointly by more than one function (as determined by the ..-,.�,. ..1♦L.. \ L...11 L� ♦-..�l�J �- /.,11-...� TL- ..--a -[ .. -L :�:� I.. ..-�J ..-:♦ -1 -��II • Project without TIF Sources of Funds Equity Investor 400,000 Financing 1,800,000 Total Available Funds 2,200,000 Project Revenue The Athlone 12 Units @ 85,000 1,020,000 ($96/sq.ft) 3 Units @ 131,000 393,000($109/sq.ft.) The Douglas 6 Units @ 86,652 519,912 ($87/sq.ft.) The Hudson 6 Units @ 81,000 486,000 ($90/sq.ft) Total Revenue 2,418,912 Additional Funds Required (417,469) Project with TIF Sources of Funds Project Revenue Equity Investor($100/sq.t.) 400,000 12 Units @ 90,000 1,080,000 Financing ($114/sq.ft.) 1,800,000 3 Units @ 137,000 411,000 Projected TIF* 440,000 Total Available Funds 2,640,000 Total Revenue 2,418,912 ** Budget does not include expenses for public improvements. In addition, previous construction company provided unacceptable work. Developer is buying out their portion at $40,000. This is not included in the expenses listed above. Projected TIF amount is calculated on projected tax increment,based on a percentage of construction costs plus additional funds allottgd for public improvements. A third party financing commitment has been approved by First Westroads Bank 9 ^F t'1 4 a z .yNE r : z,i - t i ':, ' , ection. The budget for the project utilizes the bid submitted by the Boland Group. If TIF is approved and financing is secured, construction could commence as early as February 2006 and be complete by the end of July 2006. PUBLIC IMPROVEMENTS TO BE INCORPORATED IN PROJECT Developer will install new sidewalks and repave the parking lot located behind the building. In addition, while considering restrictions in sidewalk width, Developer will install sidewalk tree boxes and landscaping where possible. DEVELOPER INFORMATION Tim Steinbach returned to Nebraska in October of 2003 after several years in Seattle, Washington where he marketed Downtown, Belltown and Queen Anne area condos with John L. • Scott Real Estate. Soon after returning he founded Urban Omaha Real Estate with two partners Tasha Henninger and Jennifer Hellman. While with Urban Omaha Tim consulted and marketed for The Jackson Square condos at 18th and Jackson, The Regis building condos at 312 S. 16th, the Brandeis condos at 16th and Douglas, and The Farnam 1600 condos at 16th and Farnam. Since selling his portion of Urban Omaha in April 2005, Tim has marketed the 1101 Jackson Condos at 1 lth and Jackson in the Old Market, The Gold Coast condos at 3710 Harney and The 6 ndatory criteria set forth in the Tax Increment Financing Guidelines issued by the City of Omaha: 4 10 11V.I.S a V. .Y -- -- -- H11M.X.031SIH+_-_ - - -- - - Y 1' )13019 G > - rN OO2���it60i I Ovp am n pI ' 6. � NO S z I 14 s 0 I 8 1' 3 I fa 5 5 5 g provements now or hereafter entered into and all right, title and interest of Trustor thereunder, including without limitation, cash or securities deposited thereunder to secure performance by tenants, lessees or licensees, as applicable, of their obligations thereunder; (f) all building materials and supplies now or hereafter placed on the Real Estate or in the Improvements; (g) all proceeds of the conversion,voluntary or involuntary, of any of the foregoing into cash or liquidated claims, including, without limitation, proceeds of insurance and condemnation awards;and(h)all other or greater rights and interests of every nature in the Real Estate and the Improvements and in the possession or use thereof and income therefrom, whether now owned or subsequently acquired by Trustor. The property so conveyed hereunder is hereinafter referred to as "such property". After filing return to: Omaha Planning Department Attn: Dave Tollefsrud 1819 Farnam Street, Suite 1111 Omaha, NE 68183 hio • Brookhaven National Laboratory, Upton, New York • Charles Stark Draper Laboratory, Incorporated, Cambridge, Massachusetts • CNA Corporation (CNAC), Alexandria, Virginia • Environmental Institute of Michigan,Ann Arbor, Michigan • Georgia Institute of Technology/Georgia Tech Applied Research Corporation/Georgia Tech Research Institute, Atlanta, Georgia • Hanford Environmental Health Foundation, Richland, Washington ight to free use of the patent or copyright. t21 The patent or coovriaht has been adiudicated to be invalid. or has been administratively determined to be • Costs incurred for improvements which add to the permanent value of the buildings and equipment or appreciably prolong their intended life shall be treated as capital expenditures (see paragraph 15). 28. Materials and supplies costs. a. Costs incurred for materials. suoolies. and fabricated Darts necessary to carry out a Federal award are buildings, shall be allocated to the individual functions performed in each building on the basis of usable square feet of space, excluding common areas, such as hallways, stairwells, and restrooms. (c) Depreciation or use allowances on buildings, capital improvements and equipment related space (e.g., individual rooms, and laboratories) used jointly by more than one function (as determined by the ..-,.�,. ..1♦L.. \ L...11 L� ♦-..�l�J �- /.,11-...� TL- ..--a -[ .. -L :�:� I.. ..-�J ..-:♦ -1 -��II MARKET INFORMATION Market for The Hill Condominiums Tim Steinbach's experience in the market for urban living and specifically with condos in Downtown Omaha allowed him to see the unique opportunities available with this Project. The Project's target buyer is the young professional or graduate student likely associated with Creighton University and its Medical Center. The Project serves a consumer not addressed by other downtown condo projects, as this target market generally cannot afford the units currently in the market. The Hill is closer in proximity to the University and Medical Center, allowing residents to walk or bike ride, instead of driving. The lower price points for these units are more accessible to younger buyers, which also facilitates the image of Downtown Omaha as "the place to live". Also, renovation of these buildings is important Omaha's overall plan to redevelop downtown. At present, most of the focus is on the Old Market area. Redevelopment of buildings on the outer edges of downtown will facilitate redevelopment of the entire downtown area, in effect drawing the public improvements westward into more neglected areas. Market for Condominiums in Downtown Omaha Downtown Omaha has more than 2,800 apartments, according to Tim Steinbach, a real estate agent at Prudential Ambassador Real Estate who specializes in downtown housing. In the past 20 years, more than 1,500 apartment units have been added in the downtown area. Bob Peters, Omaha's City Planning Director until June 2005,has said these rental units have ushered in the current interest in owning downtown residences by making people more comfortable downtown. Estimates of downtown's current population range from 4,700 to 6,000. According to Steinbach, as of year-end 2004, the downtown condo market had 122 condo transactions since 2002 and 52 of those involved the conversion of Regis apartments to condos last summer. There are 52 new condos and townhouses going in on the riverfront, 81 new row houses under construction south of the Old Market(SoMa), 60 condos under development in the old Paxton Manor and another 30 condos planned to go in at Olde Village Square at 10th and Leavenworth streets. With only 140 condos downtown, including 54 in the Old Market, and just over 400 in the works, Omaha has a ways to go before it has to worry about saturation,judging by what other cities' downtowns offer, Steinbach said. Columbus, Ohio,has 3,000 existing condo units and more planned in its downtown. Kansas City has 8,000 and 2,000 more coming in. Omaha is about half the size of those metro areas, Steinbach said, and reasonably could have up to 5,000 condos downtown. One developer reports that studies indicate downtown could support 200 units coming on line each year for 10 years. Source: Greater Omaha Chamber of Commerce; KETV Channel Seven; Omaha World Herald. 10 I Ovp am n pI ' 6. � NO S z I 14 s 0 I 8 1' 3 I fa 5 5 5 g provements now or hereafter entered into and all right, title and interest of Trustor thereunder, including without limitation, cash or securities deposited thereunder to secure performance by tenants, lessees or licensees, as applicable, of their obligations thereunder; (f) all building materials and supplies now or hereafter placed on the Real Estate or in the Improvements; (g) all proceeds of the conversion,voluntary or involuntary, of any of the foregoing into cash or liquidated claims, including, without limitation, proceeds of insurance and condemnation awards;and(h)all other or greater rights and interests of every nature in the Real Estate and the Improvements and in the possession or use thereof and income therefrom, whether now owned or subsequently acquired by Trustor. The property so conveyed hereunder is hereinafter referred to as "such property". After filing return to: Omaha Planning Department Attn: Dave Tollefsrud 1819 Farnam Street, Suite 1111 Omaha, NE 68183 hio • Brookhaven National Laboratory, Upton, New York • Charles Stark Draper Laboratory, Incorporated, Cambridge, Massachusetts • CNA Corporation (CNAC), Alexandria, Virginia • Environmental Institute of Michigan,Ann Arbor, Michigan • Georgia Institute of Technology/Georgia Tech Applied Research Corporation/Georgia Tech Research Institute, Atlanta, Georgia • Hanford Environmental Health Foundation, Richland, Washington ight to free use of the patent or copyright. t21 The patent or coovriaht has been adiudicated to be invalid. or has been administratively determined to be • Costs incurred for improvements which add to the permanent value of the buildings and equipment or appreciably prolong their intended life shall be treated as capital expenditures (see paragraph 15). 28. Materials and supplies costs. a. Costs incurred for materials. suoolies. and fabricated Darts necessary to carry out a Federal award are buildings, shall be allocated to the individual functions performed in each building on the basis of usable square feet of space, excluding common areas, such as hallways, stairwells, and restrooms. (c) Depreciation or use allowances on buildings, capital improvements and equipment related space (e.g., individual rooms, and laboratories) used jointly by more than one function (as determined by the ..-,.�,. ..1♦L.. \ L...11 L� ♦-..�l�J �- /.,11-...� TL- ..--a -[ .. -L :�:� I.. ..-�J ..-:♦ -1 -��II , , CASE: C3-06-069 11 APPLICANT: Planning Department Request: Approval of HILL CONDO PROJECT TIF REDEVELOPMENT PROJECT PLAN • LOCATION: 2567 Douglas Street SUBJECT AREA IS SHADED - MARCH 2O06 Aiiiihh, Dod•e IDS DS DS DS CBD DS DS Di . .. CBD F CBD CBD CBD CBD ' CBD CBD CBD CBD illFarnam ot- CBD DS iv DS DS DS CBD N IL 200 0 200 Feet PLANNING•OMAHA , 4 APARTMENT( 1170 sf.) 0 LU SCALEI No SCALP THE HILL CONDOMINIUM CONVERSION ALLEY POYNER ARCHITECTURE P . C . i Fahey,M46 City of Omaha P:\LAW 1\14336pjm.doc • ' CASE: C3-06-069 11 APPLICANT: Planning Department • • Request: Approval of HILL CONDO PROJECT TIF REDEVELOPMENT PROJECT PLAN LOCATION: 2567 Douglas Street t,d t — he ...-----..it ♦�t Y i • y.•. ,r ..... .-14 --- - ., 1 ..4-, . .,.. ,_ . � f... , ' * of,.9t k • OIL '' ..1 a ... . . w w �I ��1�� :' J��`, [ `y ,.[? L t I 1 • - i j S.i' "" % 1fit't►d Pv¢ JIB„ y . ti j +►` ..4 i S" - ►'a CBD • 1:D 'CBDLi i •` CB` i. +� Iti" ��E �•�•i r a i# `*r. t 41' _- _ - j I * .I 1 ' - i j 3• r • 1 �kebe CBD ; .1 I ' 1 ) -AI • : '1. 1 a ry �_t I & 't t t 1 t---------------"-- - 1 ±i ` ' .a _ •,erg {{ i 'h,•-• rA ....„'1'..' •, "'�' N. . i 1•�, . , • '��' CBD 'A' •`a;` - i'• ♦ ' w ! ., ti) t DS' r-4, 1. . : ;.....1.0.' , , . ____„, ,... i ,,� i 1 , "`••-�ei:D •�•`it �4x ' .''ram-- M �.'. t� �. 4i t J 44.Am rA _ .."C'7 ' i�-..T,`' Yr14 - i- f.'+>1.i� tie 1�{ •I �.i,, y €` M N a 0 200 0 200 Feet PLANNING•OMAHA r to 6,000. According to Steinbach, as of year-end 2004, the downtown condo market had 122 condo transactions since 2002 and 52 of those involved the conversion of Regis apartments to condos last summer. There are 52 new condos and townhouses going in on the riverfront, 81 new row houses under construction south of the Old Market(SoMa), 60 condos under development in the old Paxton Manor and another 30 condos planned to go in at Olde Village Square at 10th and Leavenworth streets. With only 140 condos downtown, including 54 in the Old Market, and just over 400 in the works, Omaha has a ways to go before it has to worry about saturation,judging by what other cities' downtowns offer, Steinbach said. Columbus, Ohio,has 3,000 existing condo units and more planned in its downtown. Kansas City has 8,000 and 2,000 more coming in. Omaha is about half the size of those metro areas, Steinbach said, and reasonably could have up to 5,000 condos downtown. One developer reports that studies indicate downtown could support 200 units coming on line each year for 10 years. Source: Greater Omaha Chamber of Commerce; KETV Channel Seven; Omaha World Herald. 10 I Ovp am n pI ' 6. � NO S z I 14 s 0 I 8 1' 3 I fa 5 5 5 g provements now or hereafter entered into and all right, title and interest of Trustor thereunder, including without limitation, cash or securities deposited thereunder to secure performance by tenants, lessees or licensees, as applicable, of their obligations thereunder; (f) all building materials and supplies now or hereafter placed on the Real Estate or in the Improvements; (g) all proceeds of the conversion,voluntary or involuntary, of any of the foregoing into cash or liquidated claims, including, without limitation, proceeds of insurance and condemnation awards;and(h)all other or greater rights and interests of every nature in the Real Estate and the Improvements and in the possession or use thereof and income therefrom, whether now owned or subsequently acquired by Trustor. The property so conveyed hereunder is hereinafter referred to as "such property". After filing return to: Omaha Planning Department Attn: Dave Tollefsrud 1819 Farnam Street, Suite 1111 Omaha, NE 68183 hio • Brookhaven National Laboratory, Upton, New York • Charles Stark Draper Laboratory, Incorporated, Cambridge, Massachusetts • CNA Corporation (CNAC), Alexandria, Virginia • Environmental Institute of Michigan,Ann Arbor, Michigan • Georgia Institute of Technology/Georgia Tech Applied Research Corporation/Georgia Tech Research Institute, Atlanta, Georgia • Hanford Environmental Health Foundation, Richland, Washington ight to free use of the patent or copyright. t21 The patent or coovriaht has been adiudicated to be invalid. or has been administratively determined to be • Costs incurred for improvements which add to the permanent value of the buildings and equipment or appreciably prolong their intended life shall be treated as capital expenditures (see paragraph 15). 28. Materials and supplies costs. a. Costs incurred for materials. suoolies. and fabricated Darts necessary to carry out a Federal award are buildings, shall be allocated to the individual functions performed in each building on the basis of usable square feet of space, excluding common areas, such as hallways, stairwells, and restrooms. (c) Depreciation or use allowances on buildings, capital improvements and equipment related space (e.g., individual rooms, and laboratories) used jointly by more than one function (as determined by the ..-,.�,. ..1♦L.. \ L...11 L� ♦-..�l�J �- /.,11-...� TL- ..--a -[ .. -L :�:� I.. ..-�J ..-:♦ -1 -��II C N 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 ) i 5/06 RECEIVED BY��Pr` RA ha• t4I LING MADE f2'i r`ATE MAILED $'d 1110 CBD ; .1 I ' 1 ) -AI • : '1. 1 a ry �_t I & 't t t 1 t---------------"-- - 1 ±i ` ' .a _ •,erg {{ i 'h,•-• rA ....„'1'..' •, "'�' N. . i 1•�, . , • '��' CBD 'A' •`a;` - i'• ♦ ' w ! ., ti) t DS' r-4, 1. . : ;.....1.0.' , , . ____„, ,... i ,,� i 1 , "`••-�ei:D •�•`it �4x ' .''ram-- M �.'. t� �. 4i t J 44.Am rA _ .."C'7 ' i�-..T,`' Yr14 - i- f.'+>1.i� tie 1�{ •I �.i,, y €` M N a 0 200 0 200 Feet PLANNING•OMAHA r to 6,000. According to Steinbach, as of year-end 2004, the downtown condo market had 122 condo transactions since 2002 and 52 of those involved the conversion of Regis apartments to condos last summer. There are 52 new condos and townhouses going in on the riverfront, 81 new row houses under construction south of the Old Market(SoMa), 60 condos under development in the old Paxton Manor and another 30 condos planned to go in at Olde Village Square at 10th and Leavenworth streets. With only 140 condos downtown, including 54 in the Old Market, and just over 400 in the works, Omaha has a ways to go before it has to worry about saturation,judging by what other cities' downtowns offer, Steinbach said. Columbus, Ohio,has 3,000 existing condo units and more planned in its downtown. Kansas City has 8,000 and 2,000 more coming in. Omaha is about half the size of those metro areas, Steinbach said, and reasonably could have up to 5,000 condos downtown. One developer reports that studies indicate downtown could support 200 units coming on line each year for 10 years. Source: Greater Omaha Chamber of Commerce; KETV Channel Seven; Omaha World Herald. 10 I Ovp am n pI ' 6. � NO S z I 14 s 0 I 8 1' 3 I fa 5 5 5 g provements now or hereafter entered into and all right, title and interest of Trustor thereunder, including without limitation, cash or securities deposited thereunder to secure performance by tenants, lessees or licensees, as applicable, of their obligations thereunder; (f) all building materials and supplies now or hereafter placed on the Real Estate or in the Improvements; (g) all proceeds of the conversion,voluntary or involuntary, of any of the foregoing into cash or liquidated claims, including, without limitation, proceeds of insurance and condemnation awards;and(h)all other or greater rights and interests of every nature in the Real Estate and the Improvements and in the possession or use thereof and income therefrom, whether now owned or subsequently acquired by Trustor. The property so conveyed hereunder is hereinafter referred to as "such property". After filing return to: Omaha Planning Department Attn: Dave Tollefsrud 1819 Farnam Street, Suite 1111 Omaha, NE 68183 hio • Brookhaven National Laboratory, Upton, New York • Charles Stark Draper Laboratory, Incorporated, Cambridge, Massachusetts • CNA Corporation (CNAC), Alexandria, Virginia • Environmental Institute of Michigan,Ann Arbor, Michigan • Georgia Institute of Technology/Georgia Tech Applied Research Corporation/Georgia Tech Research Institute, Atlanta, Georgia • Hanford Environmental Health Foundation, Richland, Washington ight to free use of the patent or copyright. t21 The patent or coovriaht has been adiudicated to be invalid. or has been administratively determined to be • Costs incurred for improvements which add to the permanent value of the buildings and equipment or appreciably prolong their intended life shall be treated as capital expenditures (see paragraph 15). 28. Materials and supplies costs. a. Costs incurred for materials. suoolies. and fabricated Darts necessary to carry out a Federal award are buildings, shall be allocated to the individual functions performed in each building on the basis of usable square feet of space, excluding common areas, such as hallways, stairwells, and restrooms. (c) Depreciation or use allowances on buildings, capital improvements and equipment related space (e.g., individual rooms, and laboratories) used jointly by more than one function (as determined by the ..-,.�,. ..1♦L.. \ L...11 L� ♦-..�l�J �- /.,11-...� TL- ..--a -[ .. -L :�:� I.. ..-�J ..-:♦ -1 -��II pMAHA, N ,FbP' • City ofOmaha :�F �11I ; T 1819 Farnam—Suite LC 1 z p�r '`��J -+t c',®�'�, ' ll Omaha, Nebraska 68183-0112 0�� Buster Brown (402) 444-5550 .o ti' City Clerk FAX (402) 444-5263 o '7.Ep FEBIO*4� "NOTICE TO TAXING AUTHORITY" NOTICE OF PUBLIC HEARING ON THE HILL CONDO CONVERSIONS TAX INCREMENT FINANCING REDEVELOPMENT PROJECT PLAN Notice is hereby given that the Omaha City Council has set Tuesday, September 12, 2006 at 2:00 p.m. as the date of Public Hearing on the Hill Condo Conversions Tax Increment Financing Redevelopment Project Plan. The Hill Condo Conversions Tax Increment Financing Redevelopment Project Plan consists of The Athlone at 2567 Douglas Street; The Hudson at 207 South 26th Avenue; and The Douglas at 213 South 26th Avenue, commonly addressed as 2567 Douglas Street. The Redevelopment Plan is located within an area declared blighted and substandard and in need of redevelopment by the City Council. The Hill Condo Conversions Tax Increment Financing Redevelopment Project Plan proposes the purchase of the vacant Athlone, Hudson and Douglas Buildings, to be known as The Hill Condominium project site, for the complete rehabilitation and reconstruction of the existing building, creating 27 residential condominium units with parking behind the building and across the street. The plan proposes $440,000.00 in Tax Increment Financing. The total project cost is estimated to be $2,836,000.00. 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 on of Regis apartments to condos last summer. There are 52 new condos and townhouses going in on the riverfront, 81 new row houses under construction south of the Old Market(SoMa), 60 condos under development in the old Paxton Manor and another 30 condos planned to go in at Olde Village Square at 10th and Leavenworth streets. With only 140 condos downtown, including 54 in the Old Market, and just over 400 in the works, Omaha has a ways to go before it has to worry about saturation,judging by what other cities' downtowns offer, Steinbach said. Columbus, Ohio,has 3,000 existing condo units and more planned in its downtown. Kansas City has 8,000 and 2,000 more coming in. Omaha is about half the size of those metro areas, Steinbach said, and reasonably could have up to 5,000 condos downtown. One developer reports that studies indicate downtown could support 200 units coming on line each year for 10 years. Source: Greater Omaha Chamber of Commerce; KETV Channel Seven; Omaha World Herald. 10 I Ovp am n pI ' 6. � NO S z I 14 s 0 I 8 1' 3 I fa 5 5 5 g provements now or hereafter entered into and all right, title and interest of Trustor thereunder, including without limitation, cash or securities deposited thereunder to secure performance by tenants, lessees or licensees, as applicable, of their obligations thereunder; (f) all building materials and supplies now or hereafter placed on the Real Estate or in the Improvements; (g) all proceeds of the conversion,voluntary or involuntary, of any of the foregoing into cash or liquidated claims, including, without limitation, proceeds of insurance and condemnation awards;and(h)all other or greater rights and interests of every nature in the Real Estate and the Improvements and in the possession or use thereof and income therefrom, whether now owned or subsequently acquired by Trustor. The property so conveyed hereunder is hereinafter referred to as "such property". After filing return to: Omaha Planning Department Attn: Dave Tollefsrud 1819 Farnam Street, Suite 1111 Omaha, NE 68183 hio • Brookhaven National Laboratory, Upton, New York • Charles Stark Draper Laboratory, Incorporated, Cambridge, Massachusetts • CNA Corporation (CNAC), Alexandria, Virginia • Environmental Institute of Michigan,Ann Arbor, Michigan • Georgia Institute of Technology/Georgia Tech Applied Research Corporation/Georgia Tech Research Institute, Atlanta, Georgia • Hanford Environmental Health Foundation, Richland, Washington ight to free use of the patent or copyright. t21 The patent or coovriaht has been adiudicated to be invalid. or has been administratively determined to be • Costs incurred for improvements which add to the permanent value of the buildings and equipment or appreciably prolong their intended life shall be treated as capital expenditures (see paragraph 15). 28. Materials and supplies costs. a. Costs incurred for materials. suoolies. and fabricated Darts necessary to carry out a Federal award are buildings, shall be allocated to the individual functions performed in each building on the basis of usable square feet of space, excluding common areas, such as hallways, stairwells, and restrooms. (c) Depreciation or use allowances on buildings, capital improvements and equipment related space (e.g., individual rooms, and laboratories) used jointly by more than one function (as determined by the ..-,.�,. ..1♦L.. \ L...11 L� ♦-..�l�J �- /.,11-...� TL- ..--a -[ .. -L :�:� I.. ..-�J ..-:♦ -1 -��II • • ' CASE: C3-06-069 11 APPLICANT: Planning Department Request: Approval of HILL CONDO PROJECT TIF REDEVELOPMENT PROJECT PLAN , LOCATION: 2567 Douglas Street SUBJECT AREA IS SHADED - MARCH 2006 Dod•e DS • DS DS DS CBD DS DS DAWIZ • -- CBD Nitiaa CBD CBD CBD ' CBD CBD CBD CBD Far am CBD DS ry DS DS CBD 200 0 200 Feet PLANNING-OMANA 0 200 Feet PLANNING•OMAHA , 4 APARTMENT( 1170 sf.) 0 LU SCALEI No SCALP THE HILL CONDOMINIUM CONVERSION ALLEY POYNER ARCHITECTURE P . C . i Fahey,M46 City of Omaha P:\LAW 1\14336pjm.doc ASSIGNMENT OF REDEVELOPMENT AGREEMENT AND REDEVELOPMENT PROMISSORY NOTE Revitalize Omaha, LLC , a Nebraska Limited Liability Company (hereinafter "Assignor"), in consideration of a loan from First Westroads Bank, Inc., a national banking corporation (hereinafter "Assignee") to Assignor, which Loan is evidenced by a Promissory Note executed on the 28th day of June, 2007, and its related securing documents of the same date between Assignor and Assignee, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, does hereby endorse and assign unto Assignee all of Assignor's right, title and interest in and to the following described Redevelopment Agreement and Redevelopment Promissory Note. Redevelopment Agreement dated November 16, 2006 between Assignor and the City of Omaha, Nebraska, and Redevelopment Promissory Note in the amount of $ 440,000.00, dated June 28, 2007, from the City of Omaha, Nebraska, as borrower, and Revitalize Omaha, LLC , as holder (collectively, the "Redevelopment Documents"). The purpose of the Redevelopment Documents is to facilitate the conversion of The Athlone at 2567 Douglas, The Hudson at 207 South 26th Avenue and The Douglas at 213 South 26th Avenue, Omaha, Douglas County,Nebraska, to residential condominiums. Assignor hereby authorizes the City of Omaha, Nebraska to make payable any and all Redevelopment Promissory Note payments as follows: Payable to: First Westroads Bank, P.O. Box 241259, Omaha, Nebraska, 68124-9929 Assignor does hereby represent and warrant that it has full power and authority to assign the aforementioned Redevelopment Documents. This Assignment will be governed and construed under the substantive laws of the State of Nebraska. Dated: June 28, 2007 Revitalize Omaha, LLC, a Nebraska limited liability company TH'LD MACS, LLC Member of Revitalize Omaha, LLC 'Llk Don Mc ro en, Member and President of THREEMACS, LLC A 1 Witnessed By. i r ` t, r U.P. _ Name and itle to go in at Olde Village Square at 10th and Leavenworth streets. With only 140 condos downtown, including 54 in the Old Market, and just over 400 in the works, Omaha has a ways to go before it has to worry about saturation,judging by what other cities' downtowns offer, Steinbach said. Columbus, Ohio,has 3,000 existing condo units and more planned in its downtown. Kansas City has 8,000 and 2,000 more coming in. Omaha is about half the size of those metro areas, Steinbach said, and reasonably could have up to 5,000 condos downtown. One developer reports that studies indicate downtown could support 200 units coming on line each year for 10 years. Source: Greater Omaha Chamber of Commerce; KETV Channel Seven; Omaha World Herald. 10 I Ovp am n pI ' 6. � NO S z I 14 s 0 I 8 1' 3 I fa 5 5 5 g provements now or hereafter entered into and all right, title and interest of Trustor thereunder, including without limitation, cash or securities deposited thereunder to secure performance by tenants, lessees or licensees, as applicable, of their obligations thereunder; (f) all building materials and supplies now or hereafter placed on the Real Estate or in the Improvements; (g) all proceeds of the conversion,voluntary or involuntary, of any of the foregoing into cash or liquidated claims, including, without limitation, proceeds of insurance and condemnation awards;and(h)all other or greater rights and interests of every nature in the Real Estate and the Improvements and in the possession or use thereof and income therefrom, whether now owned or subsequently acquired by Trustor. The property so conveyed hereunder is hereinafter referred to as "such property". After filing return to: Omaha Planning Department Attn: Dave Tollefsrud 1819 Farnam Street, Suite 1111 Omaha, NE 68183 hio • Brookhaven National Laboratory, Upton, New York • Charles Stark Draper Laboratory, Incorporated, Cambridge, Massachusetts • CNA Corporation (CNAC), Alexandria, Virginia • Environmental Institute of Michigan,Ann Arbor, Michigan • Georgia Institute of Technology/Georgia Tech Applied Research Corporation/Georgia Tech Research Institute, Atlanta, Georgia • Hanford Environmental Health Foundation, Richland, Washington ight to free use of the patent or copyright. t21 The patent or coovriaht has been adiudicated to be invalid. or has been administratively determined to be • Costs incurred for improvements which add to the permanent value of the buildings and equipment or appreciably prolong their intended life shall be treated as capital expenditures (see paragraph 15). 28. Materials and supplies costs. a. Costs incurred for materials. suoolies. and fabricated Darts necessary to carry out a Federal award are buildings, shall be allocated to the individual functions performed in each building on the basis of usable square feet of space, excluding common areas, such as hallways, stairwells, and restrooms. (c) Depreciation or use allowances on buildings, capital improvements and equipment related space (e.g., individual rooms, and laboratories) used jointly by more than one function (as determined by the ..-,.�,. ..1♦L.. \ L...11 L� ♦-..�l�J �- /.,11-...� TL- ..--a -[ .. -L :�:� I.. ..-�J ..-:♦ -1 -��II • ACKNOWLEDGMENT OF ASSIGNMENT BY THE CITY OF OMAHA,NEBRASKA The City of Omaha, Nebraska ("City") hereby acknowledges receipt of the above and foregoing Assignment of Redevelopment Agreement and Redevelopment Promissory Note (collectively, "Redevelopment Documents") and agrees as follows: 1. The above-referenced Redevelopment Documents are subject to and governed by the terms and provisions of the Community Development Law, §§ 18-2101 et seq., Nebraska Revised Statutes. 2. That City will remit directly to First Westroads Bank those sums payable by City pursuant to the Redevelopment Documents; and 3. To the extent that ad valorem taxes paid by the County Assessor and/or County Treasurer of Douglas County,Nebraska, to the City in conjunction with the Project (as defined in the above and foregoing Assignment) may be subjected to a security interest, City grants to First Westroads Bank, a first priority security interest in that portion of the ad valorem taxes on the Project calculated pursuant to § 1 8-2 1 47(1)(b). Dated effective , 2007 CITY OF OMAHA, NEBRASKA, By: c)-0-17._ .-- Michael Fahey, Mayor Approved as to form and con aha CityAttorney's office. pp Y B : 71407 ATTEST t B star Drown, ity Clerk 2 ignor hereby authorizes the City of Omaha, Nebraska to make payable any and all Redevelopment Promissory Note payments as follows: Payable to: First Westroads Bank, P.O. Box 241259, Omaha, Nebraska, 68124-9929 Assignor does hereby represent and warrant that it has full power and authority to assign the aforementioned Redevelopment Documents. This Assignment will be governed and construed under the substantive laws of the State of Nebraska. Dated: June 28, 2007 Revitalize Omaha, LLC, a Nebraska limited liability company TH'LD MACS, LLC Member of Revitalize Omaha, LLC 'Llk Don Mc ro en, Member and President of THREEMACS, LLC A 1 Witnessed By. i r ` t, r U.P. _ Name and itle to go in at Olde Village Square at 10th and Leavenworth streets. With only 140 condos downtown, including 54 in the Old Market, and just over 400 in the works, Omaha has a ways to go before it has to worry about saturation,judging by what other cities' downtowns offer, Steinbach said. Columbus, Ohio,has 3,000 existing condo units and more planned in its downtown. Kansas City has 8,000 and 2,000 more coming in. Omaha is about half the size of those metro areas, Steinbach said, and reasonably could have up to 5,000 condos downtown. One developer reports that studies indicate downtown could support 200 units coming on line each year for 10 years. Source: Greater Omaha Chamber of Commerce; KETV Channel Seven; Omaha World Herald. 10 I Ovp am n pI ' 6. � NO S z I 14 s 0 I 8 1' 3 I fa 5 5 5 g provements now or hereafter entered into and all right, title and interest of Trustor thereunder, including without limitation, cash or securities deposited thereunder to secure performance by tenants, lessees or licensees, as applicable, of their obligations thereunder; (f) all building materials and supplies now or hereafter placed on the Real Estate or in the Improvements; (g) all proceeds of the conversion,voluntary or involuntary, of any of the foregoing into cash or liquidated claims, including, without limitation, proceeds of insurance and condemnation awards;and(h)all other or greater rights and interests of every nature in the Real Estate and the Improvements and in the possession or use thereof and income therefrom, whether now owned or subsequently acquired by Trustor. The property so conveyed hereunder is hereinafter referred to as "such property". After filing return to: Omaha Planning Department Attn: Dave Tollefsrud 1819 Farnam Street, Suite 1111 Omaha, NE 68183 hio • Brookhaven National Laboratory, Upton, New York • Charles Stark Draper Laboratory, Incorporated, Cambridge, Massachusetts • CNA Corporation (CNAC), Alexandria, Virginia • Environmental Institute of Michigan,Ann Arbor, Michigan • Georgia Institute of Technology/Georgia Tech Applied Research Corporation/Georgia Tech Research Institute, Atlanta, Georgia • Hanford Environmental Health Foundation, Richland, Washington ight to free use of the patent or copyright. t21 The patent or coovriaht has been adiudicated to be invalid. or has been administratively determined to be • Costs incurred for improvements which add to the permanent value of the buildings and equipment or appreciably prolong their intended life shall be treated as capital expenditures (see paragraph 15). 28. Materials and supplies costs. a. Costs incurred for materials. suoolies. and fabricated Darts necessary to carry out a Federal award are buildings, shall be allocated to the individual functions performed in each building on the basis of usable square feet of space, excluding common areas, such as hallways, stairwells, and restrooms. (c) Depreciation or use allowances on buildings, capital improvements and equipment related space (e.g., individual rooms, and laboratories) used jointly by more than one function (as determined by the ..-,.�,. ..1♦L.. \ L...11 L� ♦-..�l�J �- /.,11-...� TL- ..--a -[ .. -L :�:� I.. ..-�J ..-:♦ -1 -��II 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 Hill Condo Conversions Tax Increment Financing (TIF) Redevelopment Project Plan Area consisting of The Athlone at 2567 Douglas; The Hudson at 207 South 26th Avenue; and The Douglas at 213 South 26th Avenue are legally described as all of Lots 8, 9, and 10 Paxton Court, a Subdivision located in the NE 1/ of Section 21, Township 15 North, City of Omaha, Douglas County, Nebraska and is commonly addressed as 2567 Douglas Street. (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. 1445, adopted on June 2, 1992, and, WHEREAS, The Hill Condo Conversions Tax Increment Financing (TT) Redevelopment Project Plan provided for the purchase of the vacant Athlone, Hudson, and the Douglas Buildings, now known as The Hill Condominium project site for the complete rehabilitation and reconstruction of the existing buildings creating 27 residential condominium units with parking as described in Exhibit "A", attached hereto and made a part hereof; and, WHEREAS, The Hill Condo Conversions Tax Increment Financing (TT) Redevelopment Project Plan provides for the use of Tax Increment Financing to offset the cost of site acquisition, demolition, preparation,reconstruction and rehabilitation; and, WHEREAS, an Industrial Development Bond issue may be used in this blighted and substandard area to assist with project financing; and, By Councilmember Adopted City Clerk Approved Mayor . _ Name and itle to go in at Olde Village Square at 10th and Leavenworth streets. With only 140 condos downtown, including 54 in the Old Market, and just over 400 in the works, Omaha has a ways to go before it has to worry about saturation,judging by what other cities' downtowns offer, Steinbach said. Columbus, Ohio,has 3,000 existing condo units and more planned in its downtown. Kansas City has 8,000 and 2,000 more coming in. Omaha is about half the size of those metro areas, Steinbach said, and reasonably could have up to 5,000 condos downtown. One developer reports that studies indicate downtown could support 200 units coming on line each year for 10 years. Source: Greater Omaha Chamber of Commerce; KETV Channel Seven; Omaha World Herald. 10 I Ovp am n pI ' 6. � NO S z I 14 s 0 I 8 1' 3 I fa 5 5 5 g provements now or hereafter entered into and all right, title and interest of Trustor thereunder, including without limitation, cash or securities deposited thereunder to secure performance by tenants, lessees or licensees, as applicable, of their obligations thereunder; (f) all building materials and supplies now or hereafter placed on the Real Estate or in the Improvements; (g) all proceeds of the conversion,voluntary or involuntary, of any of the foregoing into cash or liquidated claims, including, without limitation, proceeds of insurance and condemnation awards;and(h)all other or greater rights and interests of every nature in the Real Estate and the Improvements and in the possession or use thereof and income therefrom, whether now owned or subsequently acquired by Trustor. The property so conveyed hereunder is hereinafter referred to as "such property". After filing return to: Omaha Planning Department Attn: Dave Tollefsrud 1819 Farnam Street, Suite 1111 Omaha, NE 68183 hio • Brookhaven National Laboratory, Upton, New York • Charles Stark Draper Laboratory, Incorporated, Cambridge, Massachusetts • CNA Corporation (CNAC), Alexandria, Virginia • Environmental Institute of Michigan,Ann Arbor, Michigan • Georgia Institute of Technology/Georgia Tech Applied Research Corporation/Georgia Tech Research Institute, Atlanta, Georgia • Hanford Environmental Health Foundation, Richland, Washington ight to free use of the patent or copyright. t21 The patent or coovriaht has been adiudicated to be invalid. or has been administratively determined to be • Costs incurred for improvements which add to the permanent value of the buildings and equipment or appreciably prolong their intended life shall be treated as capital expenditures (see paragraph 15). 28. Materials and supplies costs. a. Costs incurred for materials. suoolies. and fabricated Darts necessary to carry out a Federal award are buildings, shall be allocated to the individual functions performed in each building on the basis of usable square feet of space, excluding common areas, such as hallways, stairwells, and restrooms. (c) Depreciation or use allowances on buildings, capital improvements and equipment related space (e.g., individual rooms, and laboratories) used jointly by more than one function (as determined by the ..-,.�,. ..1♦L.. \ L...11 L� ♦-..�l�J �- /.,11-...� TL- ..--a -[ .. -L :�:� I.. ..-�J ..-:♦ -1 -��II C-25A CITY OF OMAHA LEGISLATIVE CHAMBER , Omaha,Nebraska • PAGE 2 WHEREAS, Section 18-2108 of the Nebraska Revised Statutes requires the City " of Omaha to adopt a redevelopment plan before taking an active part in a redevelopment project including the division of ad valorem taxes under Sections 18-2147 through 18-2150, Revised Statutes of Nebraska; and, WHEREAS, The Hill Condo Conversions Tax Increment Financing (TIF) Redevelopment Project Plan was previously approved by the action of the City of Omaha Planning Board on March 1, 2006; and, WHEREAS, it is in the best interest of the citizens of the City of Omaha to facilitate the renovation of the vacant, underutilized Athlone, Hudson, and the Douglas Buildings, now known as The Hill for the development of the Condominium project. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF OMAHA: THAT, The Hill Condo Conversions Tax Increment Financing (TIF) Redevelopment Project Plan provided for the purchase of the vacant Athlone, Hudson, and the Douglas Buildings, now known as The Hill Condominium project and site for the complete rehabilitation and reconstruction of the existing buildings creating 27 residential condominium units with parking 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 Hill Condo Conversion Tax Increment Financing (TIF) Redevelopment Condominium Project Plan Area for the Athlone, Hudson and the Douglas Buildings, now known as The Hill Condominium Conversions project site located at 2567 Douglas Street. P:\PLN4\14422pjm.doc APPROVED AS TO FORM: -�� CITY ATTORNEY D TE ByAo-1,94,14.4. Councilmember Adopted SEP 1 2 2006 - D afiaiee,:j 9-/ -60. •• .Y City Clerk Approved r Mayor th project financing; and, By Councilmember Adopted City Clerk Approved Mayor . _ Name and itle to go in at Olde Village Square at 10th and Leavenworth streets. With only 140 condos downtown, including 54 in the Old Market, and just over 400 in the works, Omaha has a ways to go before it has to worry about saturation,judging by what other cities' downtowns offer, Steinbach said. Columbus, Ohio,has 3,000 existing condo units and more planned in its downtown. Kansas City has 8,000 and 2,000 more coming in. Omaha is about half the size of those metro areas, Steinbach said, and reasonably could have up to 5,000 condos downtown. One developer reports that studies indicate downtown could support 200 units coming on line each year for 10 years. Source: Greater Omaha Chamber of Commerce; KETV Channel Seven; Omaha World Herald. 10 I Ovp am n pI ' 6. � NO S z I 14 s 0 I 8 1' 3 I fa 5 5 5 g provements now or hereafter entered into and all right, title and interest of Trustor thereunder, including without limitation, cash or securities deposited thereunder to secure performance by tenants, lessees or licensees, as applicable, of their obligations thereunder; (f) all building materials and supplies now or hereafter placed on the Real Estate or in the Improvements; (g) all proceeds of the conversion,voluntary or involuntary, of any of the foregoing into cash or liquidated claims, including, without limitation, proceeds of insurance and condemnation awards;and(h)all other or greater rights and interests of every nature in the Real Estate and the Improvements and in the possession or use thereof and income therefrom, whether now owned or subsequently acquired by Trustor. The property so conveyed hereunder is hereinafter referred to as "such property". After filing return to: Omaha Planning Department Attn: Dave Tollefsrud 1819 Farnam Street, Suite 1111 Omaha, NE 68183 hio • Brookhaven National Laboratory, Upton, New York • Charles Stark Draper Laboratory, Incorporated, Cambridge, Massachusetts • CNA Corporation (CNAC), Alexandria, Virginia • Environmental Institute of Michigan,Ann Arbor, Michigan • Georgia Institute of Technology/Georgia Tech Applied Research Corporation/Georgia Tech Research Institute, Atlanta, Georgia • Hanford Environmental Health Foundation, Richland, Washington ight to free use of the patent or copyright. t21 The patent or coovriaht has been adiudicated to be invalid. or has been administratively determined to be • Costs incurred for improvements which add to the permanent value of the buildings and equipment or appreciably prolong their intended life shall be treated as capital expenditures (see paragraph 15). 28. Materials and supplies costs. a. Costs incurred for materials. suoolies. and fabricated Darts necessary to carry out a Federal award are buildings, shall be allocated to the individual functions performed in each building on the basis of usable square feet of space, excluding common areas, such as hallways, stairwells, and restrooms. (c) Depreciation or use allowances on buildings, capital improvements and equipment related space (e.g., individual rooms, and laboratories) used jointly by more than one function (as determined by the ..-,.�,. ..1♦L.. \ L...11 L� ♦-..�l�J �- /.,11-...� TL- ..--a -[ .. -L :�:� I.. ..-�J ..-:♦ -1 -��II L n — . 0A °Q ,0 E., O OCc$ O = uw C• Or. . Q .N . 0 ¢ II O Ca, Ma N px O ; cD ,O •\_ c4 O O O - -< w cm A� O vn Y d F N („, C Cri 0 k w QQ fo a Q., CD cn to CY = O '1 `—xr a 'TJ O tv cn �, a O fD O �G Z N o‘.3A. cD 0 co P p 2- x p ¢ co O_ `C v' 5 $. R' O z o� N ° xCCD ,.d� a. c . 0 0 z p � ° �1 :gyp .. a Z � ' Colalcn M' `� aao �� o NJ�. Yt \ m a- 52 "' vo =as a•d 77 �7 \ r) �! co Co z N a U4 N O 4. O \ 0., ° CD coA CD a CD ,C... d V, CD. cp •••t 0 CD t::(1:W. c (p W...\ cA O . " Q'Cf = Q" y' p '�ram' r= p., W" p�, A �l CD ,-� >4 ,--' CD O" a. .. '-C .-• )—r, CD cn CD ,-,. >G Ci ,,\k\ . 1 . \- .‘\ . k., • • • r 1, ' 0 ed 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 Hill Condo Conversion Tax Increment Financing (TIF) Redevelopment Condominium Project Plan Area for the Athlone, Hudson and the Douglas Buildings, now known as The Hill Condominium Conversions project site located at 2567 Douglas Street. P:\PLN4\14422pjm.doc APPROVED AS TO FORM: -�� CITY ATTORNEY D TE ByAo-1,94,14.4. Councilmember Adopted SEP 1 2 2006 - D afiaiee,:j 9-/ -60. •• .Y City Clerk Approved r Mayor th project financing; and, By Councilmember Adopted City Clerk Approved Mayor . _ Name and itle to go in at Olde Village Square at 10th and Leavenworth streets. With only 140 condos downtown, including 54 in the Old Market, and just over 400 in the works, Omaha has a ways to go before it has to worry about saturation,judging by what other cities' downtowns offer, Steinbach said. Columbus, Ohio,has 3,000 existing condo units and more planned in its downtown. Kansas City has 8,000 and 2,000 more coming in. Omaha is about half the size of those metro areas, Steinbach said, and reasonably could have up to 5,000 condos downtown. One developer reports that studies indicate downtown could support 200 units coming on line each year for 10 years. Source: Greater Omaha Chamber of Commerce; KETV Channel Seven; Omaha World Herald. 10 I Ovp am n pI ' 6. � NO S z I 14 s 0 I 8 1' 3 I fa 5 5 5 g provements now or hereafter entered into and all right, title and interest of Trustor thereunder, including without limitation, cash or securities deposited thereunder to secure performance by tenants, lessees or licensees, as applicable, of their obligations thereunder; (f) all building materials and supplies now or hereafter placed on the Real Estate or in the Improvements; (g) all proceeds of the conversion,voluntary or involuntary, of any of the foregoing into cash or liquidated claims, including, without limitation, proceeds of insurance and condemnation awards;and(h)all other or greater rights and interests of every nature in the Real Estate and the Improvements and in the possession or use thereof and income therefrom, whether now owned or subsequently acquired by Trustor. The property so conveyed hereunder is hereinafter referred to as "such property". After filing return to: Omaha Planning Department Attn: Dave Tollefsrud 1819 Farnam Street, Suite 1111 Omaha, NE 68183 hio • Brookhaven National Laboratory, Upton, New York • Charles Stark Draper Laboratory, Incorporated, Cambridge, Massachusetts • CNA Corporation (CNAC), Alexandria, Virginia • Environmental Institute of Michigan,Ann Arbor, Michigan • Georgia Institute of Technology/Georgia Tech Applied Research Corporation/Georgia Tech Research Institute, Atlanta, Georgia • Hanford Environmental Health Foundation, Richland, Washington ight to free use of the patent or copyright. t21 The patent or coovriaht has been adiudicated to be invalid. or has been administratively determined to be • Costs incurred for improvements which add to the permanent value of the buildings and equipment or appreciably prolong their intended life shall be treated as capital expenditures (see paragraph 15). 28. Materials and supplies costs. a. Costs incurred for materials. suoolies. and fabricated Darts necessary to carry out a Federal award are buildings, shall be allocated to the individual functions performed in each building on the basis of usable square feet of space, excluding common areas, such as hallways, stairwells, and restrooms. (c) Depreciation or use allowances on buildings, capital improvements and equipment related space (e.g., individual rooms, and laboratories) used jointly by more than one function (as determined by the ..-,.�,. ..1♦L.. \ L...11 L� ♦-..�l�J �- /.,11-...� TL- ..--a -[ .. -L :�:� I.. ..-�J ..-:♦ -1 -��II - - _ - "NOTICE TO PUBLIC' - - NOTICE OF PUBLIC HEARING ON THE HILL CONDO CONVERSIONS TAX THE DAILY RECORD INCREMENT FINANCING REDEVELOPMENT PROJECT PLAN �/� A 1[� A Notice is hereby given that the Omaha OF O MAI A City Council has set Tuesday, September 12,2006 at 2:00 plm. as the.date of Public RONALD A. HENNINGSEN, Publisher Hearing the'Hill�Condo Conversions Tax PROOF OF PUBLICATION Incrementt Financing Redevelopment Project Plan. The Hill Condo Conversions Tax Increment Financing Redevelopment Project UNITED STATES OF AMERICA, Plan consists of The Athlone at 2567 Douglas Street; The Hudson at 207 South 26th The State of Nebraska, SS. Avenue;and The Douglas at 213 South 26th, District of Nebraska, Avenue, commonly addressed as 2567 Douglas Street. The Redevelopment Plan is County of Douglas, located within'an area declared blighted and Cityof Omaha, and in need of redevelopment by the City Council. The Hill Condo Conversions Tax J.BOYD Increment Financing Redevelopment Project Plan proposes the purchase of the vacant Athlone, Hudson and Douglas Buildings,to being duly sworn,deposes and says that she is be known as The Hill Condominium project LEGAL EDITOR site, for the complete rehabilitation and reconstruction of the existing building, creating 27 residential condominium units of THE DAILY RECORD, of Omaha, a legal newspaper, printed and with parking behind the building and across theestreet. - published daily in the English language, having a bona fide paid • The plan proposes $440,000.00 in Tax circulation in Douglas County in excess of 300 copies, printed in Increment Financing. The total project cost is estimated to be$2,836,000.00. A copy of Omaha,in said County of Douglas,for more than fifty-two weeks last said plan is available for public inspection in past; that the printed notice hereto attached was published in THE the City Clerk's Office. Public Hearing will be held before the City DAILY RECORD,of Omaha,on Council of the City of Omaha, in the Legislative Chambers, Omaha/Douglas Civic Angus t' 2 4 and 31 , 2006 Q 6 Center, 1819 Farnam Street, Omaha,'. Nebraska. BUSTER BROWN, City Clerk ALL REQUESTS FOR SIGN LANGUAGE 'INTERPRETERS(SIGNERS) WILL REQUIRE A MINIMUM OF 48 HOURS ADVANCE NOTICE. Th aper during that time was re: arly published and IF ALTERNATIVE FORMATS ARE NEEDED • N Q ALL REQUESTS WILL REQUIRE A MINIMUM „1�'..(,S�`g k1 ��O in the County of Dougl.i d State of Nebraska. OF 72 HOURS ADVANCE NOTICE. �� GttyERA(..'..� � , PLEASE NOTIFY TAMMY BIODROWSKI - aa4-5553, NOTARY • Subscribed in my/esence and sworn to before IF ARRANGEMENTS NEED TO BE MADE. ,'y h8-2af931-os N ISSION R Qbiisheri. ES $ : 4 me this day of • • dit...iganal, Y 5?c&O .`� 20—0-6 s ,. lip t6 • Notary P c' r ugl ounty, to of a ereunder to secure performance by tenants, lessees or licensees, as applicable, of their obligations thereunder; (f) all building materials and supplies now or hereafter placed on the Real Estate or in the Improvements; (g) all proceeds of the conversion,voluntary or involuntary, of any of the foregoing into cash or liquidated claims, including, without limitation, proceeds of insurance and condemnation awards;and(h)all other or greater rights and interests of every nature in the Real Estate and the Improvements and in the possession or use thereof and income therefrom, whether now owned or subsequently acquired by Trustor. The property so conveyed hereunder is hereinafter referred to as "such property". After filing return to: Omaha Planning Department Attn: Dave Tollefsrud 1819 Farnam Street, Suite 1111 Omaha, NE 68183 hio • Brookhaven National Laboratory, Upton, New York • Charles Stark Draper Laboratory, Incorporated, Cambridge, Massachusetts • CNA Corporation (CNAC), Alexandria, Virginia • Environmental Institute of Michigan,Ann Arbor, Michigan • Georgia Institute of Technology/Georgia Tech Applied Research Corporation/Georgia Tech Research Institute, Atlanta, Georgia • Hanford Environmental Health Foundation, Richland, Washington ight to free use of the patent or copyright. t21 The patent or coovriaht has been adiudicated to be invalid. or has been administratively determined to be • Costs incurred for improvements which add to the permanent value of the buildings and equipment or appreciably prolong their intended life shall be treated as capital expenditures (see paragraph 15). 28. Materials and supplies costs. a. Costs incurred for materials. suoolies. and fabricated Darts necessary to carry out a Federal award are buildings, shall be allocated to the individual functions performed in each building on the basis of usable square feet of space, excluding common areas, such as hallways, stairwells, and restrooms. (c) Depreciation or use allowances on buildings, capital improvements and equipment related space (e.g., individual rooms, and laboratories) used jointly by more than one function (as determined by the ..-,.�,. ..1♦L.. \ L...11 L� ♦-..�l�J �- /.,11-...� TL- ..--a -[ .. -L :�:� I.. ..-�J ..-:♦ -1 -��II PROOF OF PUBLICATION ( 7 7 "NOTICE TO PUBLIC" , NOTICE OF PUBLIC HEARING ON THE HILL CONDO • INC EMENTTIFINANCING REDEVELOPPLAN MENT PRO m:r AFFIDAVIT the Omaha re yCouven ahas • set Tuesdaye eptember 12, State of Nebraska, County of Douglas, ss: of Public Hearing on the Hill Condo Conversions Tax r Increment Financingg Redevelopment Project Plan. ►/r�l' `C''�_- l�J The Hill condo Conversions (4/J•�' "'`" ,being duly sworn,deposes and says Tax In..ement Fiinancing conslss of ThePAthlonelat that he is an employee of The Omaha World-Herald, a legal daily newspaper 2567 O"j las Street; The Avenue;la a The rDouglas et printed and published in the county of Douglas and State of Nebraska, and of 213 South 26th Avenue, 2567"�Douglas dSteet d The , general circulation in the Counties of Douglas and Sarpy and State of Nebraska Redevelopment Plan is located within an area and that the attached printed notice was published in the said newspaper on the declared blighted and substandard and in need of °�, r Council�pment by the city ��1, -1 4,3, 1, .day of A.D-,20 . - .� The Hill Condo Conversions t!_ ,,, titAli ' Tax Increment Financing and that said newspaper is a legal newspaper under the statues of the State of proposes Project Plan the vacanttAthlone,Hudson and Douglas Buildings, to ` Nebraska. The above facts are within my personal knowledge. The Omaha be known as The Hill I Condominium project site, World-Herald has an.average circulation of , . . daily, rfehabilitation complete 195,196 •'242,227 reconstruction of the I Sunday,in 20. . .06 existing building, creating 27 resl entlal condominium units with parking behind • the building and across the to �l/1 / fhe Pplan proposes (Signed) ' / .Title- Advertising SC40,000A0 in Tax Increment - Financing• The total project Lost is estimated to be 62,836 000.00.A copy of said I Ian Is available for public nspection In the City Clerk's Office. ublic Hearing will be held Lir Subscribed in my presence and sworn to before me this the City of Omaha,'in Ithe Legislative day of 20 . . .O( Omaha/Dou las Chambers, Center,1819gFarnam Street Omaha,Nebraska. Buster Brown City Clerk „m, s LANGUAGE INTER RUIRE A c•_ °' 'flC"', LEANNA CARRICK Ce.A.1.),(...e.:2 (SIGNERS)WILL REQUIRE A oeKtapLti n MINIMUM OF a8 HOURS : •€�- MY COMMISSION EXPIRES L/ ADVANCE NOTICE. IF ALTERNATIVE FORMATS ��'y S'gps'l Apnl 30,2007 ARE NEEDED ALL REQUESTS Notary Public WILL REQUIRE A MINIMUM •.�-.< • OF72 OURS ADVANCE � NOTICE. PBIODROSK NOTIFY 555M3 IF ARRANGEMENTS NEED TO BE MAD__` Printer's Fee$ Affidavit Paid by 313-G8-007 Notary P c' r ugl ounty, to of a ereunder to secure performance by tenants, lessees or licensees, as applicable, of their obligations thereunder; (f) all building materials and supplies now or hereafter placed on the Real Estate or in the Improvements; (g) all proceeds of the conversion,voluntary or involuntary, of any of the foregoing into cash or liquidated claims, including, without limitation, proceeds of insurance and condemnation awards;and(h)all other or greater rights and interests of every nature in the Real Estate and the Improvements and in the possession or use thereof and income therefrom, whether now owned or subsequently acquired by Trustor. The property so conveyed hereunder is hereinafter referred to as "such property". After filing return to: Omaha Planning Department Attn: Dave Tollefsrud 1819 Farnam Street, Suite 1111 Omaha, NE 68183 hio • Brookhaven National Laboratory, Upton, New York • Charles Stark Draper Laboratory, Incorporated, Cambridge, Massachusetts • CNA Corporation (CNAC), Alexandria, Virginia • Environmental Institute of Michigan,Ann Arbor, Michigan • Georgia Institute of Technology/Georgia Tech Applied Research Corporation/Georgia Tech Research Institute, Atlanta, Georgia • Hanford Environmental Health Foundation, Richland, Washington ight to free use of the patent or copyright. t21 The patent or coovriaht has been adiudicated to be invalid. or has been administratively determined to be • Costs incurred for improvements which add to the permanent value of the buildings and equipment or appreciably prolong their intended life shall be treated as capital expenditures (see paragraph 15). 28. Materials and supplies costs. a. Costs incurred for materials. suoolies. and fabricated Darts necessary to carry out a Federal award are buildings, shall be allocated to the individual functions performed in each building on the basis of usable square feet of space, excluding common areas, such as hallways, stairwells, and restrooms. (c) Depreciation or use allowances on buildings, capital improvements and equipment related space (e.g., individual rooms, and laboratories) used jointly by more than one function (as determined by the ..-,.�,. ..1♦L.. \ L...11 L� ♦-..�l�J �- /.,11-...� TL- ..--a -[ .. -L :�:� I.. ..-�J ..-:♦ -1 -��II