ORD 36994 - Redevelopment a TIF loan agmt with Sutherlands Plaza LLC • 0MAHA,Nlcb
Ay � DPlanning Department
KAP.��� � � RF `' J Omaha/Douglas Civic Center
i �jj�"` N pE, CI 1819 Famam Street,Suite 1100
®. ;�ri •M a �5 4 Omaha,Nebraska 68183
ob i U (402)444-5150
O�rED FE8R��y ; Cl-1: t '. Telefax(402)444-6140
tc' ` `'" '"'�'�� Robert C.Peters
City of Omaha 1`'1 R 4 '"' Director
Mike Fahey,Mayor
•
March 29, 2005
Honorable President
and Members of the City Council,
The attached proposed Ordinance approves the Agreement with Sutherlands Plaza, LLC which
implements the Sutherlands Plaza, LLC Redevelopment Plan for mixed-use commercial
redevelopment at the site of the former Sutherlands Lumber Company at 2900 "L" Street. This
Redevelopment Plan was approved by the City Council on November 30, 2004. The Agreement
provides the use of$510,750.00 in Tax Increment Financing for the project. The tax increment
loan will be repaid in 15 years with the increase in taxes generated by the property
improvements.
The Contractor has on file a current Annual Contract Compliance Report Form (CC-1). As is
City policy, the Human Relations Director will review the Contractor to ensure compliance with
the Contract Compliance Ordinance.
•9
Your favorable consideration of the Ordinance will be appreciated.
Sincerely, Referred to City Council for Consideration:
Z1/1,1 71/t"., 2.1/19(* 2, •-7.2, ...tor
Robert C. Peters Date Mayor's Office Date
Planning Director
Approved as to Funding: Approved:
/44-W6 c2/4.510..6-
Carol A. Ebdon Date Gail Kinsey ompso` Date
Finance Director Human Rela ions Director
P:\PLN2\11820pjm.doc
ORDINANCE NO. L'9'9
AN ORDINANCE approving a redevelopment and tax increment financing loan agreement with
the Sutherlands Plaza, LLC, 2411 "0" Street, Suite 2, Omaha, Nebraska, for the Mixed
Use commercial redevelopment of Sutherlands Plaza, located at 2900 "L" Street; and
providing for an effective date.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF OMAHA;
Section 1. The Mayor is hereby authorized to execute, and the City Clerk to attest, the
attached Redevelopment Agreement with Sutherlands Plaza, LLC, for Mixed Use Commercial
Redevelopment of Sutherlands Plaza, located Northeast of"L" Street and Dahlman Avenue, at
2900 "L" Street; including any other documents in connection with the Redevelopment
Agreement necessary or appropriate to consummate the loan.
Section 2. Said Redevelopment Agreement contains obligations undertaken pursuant to
the Nebraska Community Development Law and Sections 18-2147 through 18-2150; and, are
not otherwise obligations of the City of Omaha.
Section 3. This Ordinance shall be in full force and take effect fifteen(15) days from and
after the date of its passage.
INTRO IUCED BY C UNC EMBER
IPA % pig .
APPROVED BY:
YA205--
MAYOR OF THE Y OF OMAHA DATE
PASSED APR 1 9 2005 6-0
ATTEST:
CI CLERK O E ITY OF OM ATEP VED TO FO :
CITY ATTORNE DATE
P:\PLN2\15316maf.doc
REDEVELOPMENT AGREEMENT
THIS AGREEMENT is entered into by and between the City of Omaha, a Nebraska
Municipal Corporation in Douglas County, Nebraska, and Sutherlands Plaza, LLC.
RECITALS:
WHEREAS, on November 30, 2004, the City Council of the City of Omaha approved the
Sutherlands Plaza, LLC, Redevelopment Plan which provided for Mixed Use Commercial
Redevelopment of Sutherlands Plaza located Northeast of "L" Street and Dahlman Avenue at
2900 "L" Street, and the use of the excess ad valorem taxes generated by such development; and,
WHEREAS, this Agreement is a redevelopment agreement prepared pursuant to the
Nebraska Community Development Law in order to implement the above-referenced
Redevelopment Plan.
IN CONSIDERATION OF THESE MUTUAL COVENANTS THE PARTIES AGREE
AS FOLLOWS:
SECTION 1. DEFINITIONS
The following terms, whether plural or singular, shall have the following meanings for
purposes of this Agreement.
1.1 "City" shall mean the City of Omaha, Nebraska, a Municipal Corporation of the
metropolitan class or such successor entity lawfully established pursuant to the
applicable provision of the Nebraska Community Development Act.
1.2 "Developer" shall mean Sutherlands Plaza, LLC.
1.3 "Director" shall mean the Director of the City of Omaha Planning Department.
1.4 "Redevelopment Project" shall mean Mixed Use Commercial Redevelopment of
Sutherlands Plaza, including public improvements and community values
enhancements as shown on the Site Plan Exhibit "A".
1.5 "Redevelopment Site" shall mean the area legally described on Exhibit "B",
attached hereto.
1.6 "Redevelopment Note (TIF Funds/TIF Proceeds)" shall mean any obligation
issued by the City and secured by the excess ad valorem taxes generated within
the Redevelopment Site.
1.7 "Excess ad valorem taxes" shall mean the additional real estate property taxes
generated by this Redevelopment Project pursuant to Section 18-2147 of the
Nebraska Revised Statutes.
SECTION 2. OBLIGATIONS OF THE CITY
The City shall:
2.1 Execute and deliver to the Developer at closing the Redevelopment Note in
substantially the same form as the copy attached hereto as Exhibit"C".
2.2 Grant Redevelopment Loan proceeds to the Developer for public improvements
and community values enhancements up to the sum of$510,750.00.
2.3 Pay debt retirement principal and interest from the Excess Ad Valorem Taxes
(TIF tax proceeds). Interest on monies in the special fund shall accrue first to
debt retirement interest and then to principal.
2.4 Ensure that prior to expenditure or disbursement of Redevelopment Loan
proceeds, the following shall be obtained, to wit:
2.4.1 Developer shall provide the Director with evidence, acceptable to the
Director, that the private funds have been irrevocably committed to the
Redevelopment Project in the amount sufficient to complete the
redevelopment project.
2.4.2 Developer shall provide evidence of, and maintain, adequate performance
and labor materials bonds during the period of construction of the project.
The City shall be specified as a co-obligee.
2.5 Establish a special fund under Section 18-2147 of the Nebraska Revised Statutes
for the purpose of collecting the excess ad valorem taxes generated by the
Redevelopment Project. Monies collected and held in the special fund shall be
used for no purpose other than to repay the Redevelopment Loan.
SECTION 3. OBLIGATIONS OF THE DEVELOPER
The Developer shall:
3.1 Complete the Redevelopment Project on or before August 31, 2006, creating an
increase in real property taxable base by reason of such construction of at least
$3,505,185.00.
- 2 -
3.2 Cause all real estate taxes and assessments levied on the Redevelopment Project
to be paid prior to the time such become delinquent.
3.3 Loan redevelopment funds to the City in the principal amount of$510,750.00 as
set forth in Section 2.1, which, when combined with other private funds available,
will be sufficient to construct the redevelopment project. Execution and delivery
of the Redevelopment Promissory Note shall be at closing which shall be as soon
as reasonably possible after execution of this Agreement but not more than 60
days thereafter. At closing, the loan to be accomplished by this Section and the
obligation of the City to use the redevelopment loan proceeds for redevelopment
purposes under Section 2.2 may be accomplished by offset so that the Developer
retains the loan proceeds. If the City so requests, the developer shall, from time to
time, furnish the City with satisfactory evidence as to the use and application of
the redevelopment loan proceeds.
3.3.1 Such loan funds shall be disbursed as provided in Section 2.
3.3.2 Such loan shall bear a 6.5% interest rate.
3.3.3 The principal shall be repaid by the City from the special fund established
pursuant to Section 2.5, as excess ad valorem taxes, pursuant to the
Redevelopment Plan and Section 18-2147 of the Nebraska Revised
Statutes, become available to the City for such use. To the extent of such
excess ad valorem taxes are unavailable to the City, the loan shall be
forgiven and the obligations of the Developer shall remain unaffected.
3.4 Shall provide the City with quarterly progress reports during the redevelopment
and allow the City reasonable access to any relevant financial records pertaining
to the Redevelopment Project.
3.5 During the period that the Redevelopment Note (TIF Funds) is outstanding, (1)
not protest a real estate improvement valuation on the Redevelopment Site of
$739,300.00 or less prior to and during construction; and $4,244,485.00 or less
after substantial completion or occupancy of the Mixed Use Commercial
Facilities; (2) not convey the Redevelopment Site or structures thereon to any
entity which would be exempt from the payment of real estate taxes or cause the
nonpayment of such real estate taxes; (3) not apply to the Douglas County
Assessor for the structures, or any portion thereof, to be taxed separately from the
underlying land of the Redevelopment Site; (4) maintain insurance for ninety
percent (90%) of the full value of the structures on the Redevelopment Site; (5) in
the event of casualty, apply such insurance proceeds to their reconstruction; and
(6) cause all real estate taxes and assessments levied on the Redevelopment Site
to be paid prior to the time such become delinquent. In lieu of the above, the
Developer may surrender any remaining amount outstanding of the
Redevelopment Promissory Note to City. Each of the foregoing covenants shall
be referenced in a Notice of Redevelopment Agreement to be recorded with the
Douglas County, Nebraska Register of Deeds. The Developer agrees to include
the same restrictions to be included in any subsequent sale, assignment, sale
leaseback or other transfer of the property, but shall not be responsible otherwise
- 3 -
•
for the actions of the third parties if these covenants are breached by such third
parties if the Developer no longer owns the property.
3.6 Shall provide the City of Omaha Finance Department with an executed copy of
the Redevelopment Promissory Note prior to disbursement of any proceeds for
repayment of such Note pursuant to Section 2.5, so that such payment can be
noted on the Note and the Note returned to Developer.
SECTION 4. PROVISIONS OF THE CONTRACT
4.1 Equal Employment Opportunity Clause. Annexed hereto as "D" and made a part
hereof by reference are the equal employment provisions of this contract, wherein
the "Developer" is referred to as "Contractor".
4.2 Non-discrimination. The Developer shall not, in the performance of this Contract,
discriminate or permit discrimination in violation of federal or state laws or local
ordinances because of race, color, sex, age, political or religious opinions,
affiliations or national origin.
4.3 Captions. Captions used in this Contract are for convenience and are not used in
the construction of this Contract.
4.4 Applicable Law. Parties to this Contract shall conform with all existing and
applicable city ordinances, resolutions, state laws, federal laws, and all existing
and applicable rules and regulations. Nebraska law will govern the terms and the
performance under this Contract.
4.5 Interest to the City. Pursuant to Section 8.05 of the Home Rule Charter, no
elected official or any officer or employee of the City of Omaha shall have a
financial interest, direct or indirect, in any City of Omaha contract. Any violation
of this section with the knowledge of the person or corporation contracting with
the City of Omaha shall render the contract voidable by the Mayor or Council.
4.6 Merger. This Contract shall not be merged into any other oral or written contract,
lease or deed of any type.
4.7 Modification. This Contract contains the entire agreement of the parties. No
representations were made or relied upon by either party other than those that are
expressly set forth herein. No agent, employee or other representative of either
party is empowered to alter any of the terms herein unless done in writing and
signed by an authorized officer of the respective parties.
4.8 Assignment. The Developer may not assigns its rights under this contract without
the express prior written consent of the City; such consent not to be unreasonably
withheld. The Mayor may, without City Council approval, approve, in writing,
the assignment of all rights hereunder to a successor entity owned by, or under
common control with Developer.
- 4 -
4.9 Strict Compliance. All provisions of this Contract and each and every document
that shall be attached shall be strictly complied with as written, and no
substitution or change shall be made except upon written direction from
authorized representatives of the parties.
4.10 This Agreement shall be binding upon the Developer's successors and assigns,
and shall run with the land described in Exhibit "B", attached hereto, to the
benefit of the City of Omaha.
SECTION 5. AUTHORIZED REPRESENTATIVE
In further consideration of the mutual covenants herein contained, the parties hereto
expressly agree that for the purposes of notice, including legal service of process, during the term
of this Contract and for the period of any applicable statute of limitations thereafter, the
following named individuals shall be the authorized representatives of the parties:
(1) City of Omaha:
Robert C. Peters, Director Legal Service
City Planning Department c/o City Clerk
Omaha/Douglas Civic Center Omaha/Douglas Civic Center
1819 Farnam Street 1819 Farnam Street
Omaha, NE 68183 Omaha,NE 68183
(2) Developer:
Bob L. Pelshaw and Sam Murante
Sutherlands Plaza, LLC
2411 "0" Street, Suite 2
Omaha, NE 68107
Either party may designate additional representatives or substitute representatives by
giving written notice thereof to the designated representative of the other party.
- 5 -
t
7,'
Executed thin/ 'day of , 20a
ATTEST: CITY OF OMAHA:
CITY CLERK OF THE-CITY OF OMAHA MAYOR OF THE CITY OF OMAHA
1
Executed this I O day of Fe(0vtAG✓/ , 20 0S .
DEVELOPER:
Sutherlands Plaz LC
By
Bo L.
By
Sam urante
PROVED AS TO FORM:
‘%2z)e --r (AZ`- 4oc
I CITY ATTORNEY
STATE OF NEBRASKA )
)ss.
COUNTY OF DOUGLAS )
The foregoing Redevelopment Agreement was acknowledged before me this Jf day of
Fe(O y,o...ar y , 20 0 S by Bob L. Pelshaw and Sam Murante, members of
Sutherlands Plaza, LLC, on behalf of said Sutherlands Plaza, LLC.
GENERAL NOTARY••StGte ur pl,�raska State of Nebraska
MARIAN R.TODD Notary Public,
P:\PLN2\15317maf.doc III My Comm.Exp.Feb.13,2006 My commission expires on 2 "/? "2.04.
- 6 -
r
EXHIBIT "A" Page 1 of 4
-I ( F - i --
b Z I O �
I I
•
O
1 ��.
iiili
g
OA � Io� I I IIIIIIIIII 1
1II [ 11 [IIIIIII
�y, kN 1
4 I I / a) �r C ti` I 1 •
I CI
Oa 4•
I h it1-.f,:•t.n.q•r l_:f-ry:.r.K� ; ,,;,1.
A I .4 I
g 1 I JI
CO •se y ' F i_ 1
y A l I / $ I--
ig B.gi
I $
al0
1 ,i, [----7 •
71 0 6 �$.' 1
.I• //���,I 0 to 0 nil •
1I I • • • I 0 •
1 _Q an
•
ii _3: 4i3.1 I
O A ejg
1
iii:.\. �rwalc
//:' 4.'..ef :)./
f$f 1
AI'er14 ti,„1-4 ,_ ii,t1:1\iit,ltip.%4644111, I,
•
•
io/ It•1411: %'''''1/4
Pli .i:r.
ha
•
1111
rit=a; ! .
•
i• S� E / is
pi., ; , 1
\ . , I 1
m
a P i• Q ..,.
0 a 0 a 1
• \ Ti 0 iQ2�i t
\ 1 A. rural- 1
Z.-STD �i7`v�a� I
c1'.d,7 1
—
1
s �.,
i �\ \ 1
\
i ... .
rn x SUTHERLANDS PLAZA, LLC SUTHERLANDS PLAZA - 2920 "L" ST. OMAHA, NE aflilt
m= 0•
m 2411 S.24TH STREET A
-/ OMAHA•NE.68107 PHONE•(402)734.5337 $ PLAN G
•
9A �fe i� 1e',I/._,,,t,1•; Alf.•;—elf.;. ^tr% _"�r%,�z.r: ..r.
- 3, . , 3 r „ . 1
Z
Sa 1 I s { 1
��/ 1 l
Ill
I SM+r'jsn _.>.. 2 z i„i'fcb r #A tIrl
Y
� i 1 :1
3 .01
tE,
i F77:1
rrtj � r
ri': I . i . . 1 ' •
r
!F
a m . I-. �
1 1 .........
s m ] y S
s m m "1 zy1 N� I I ! ..::1
r ;rT mm 1 I
vI
ill 'illbili ' - i - --ji
1 €1 II I e 4 c (c A
4 1 - -- vhD• •1
J a•ty 1
i' °i/ a
/ .,..--1,6,-------.44,. .,,,•. -,.. °
/ S
, ,,,,,;kv 8
,,,,,. .„..;•..A:. ,..,,.,,'T!!!!!-!!!i''i!i!:.!!::-:!:':!:F:E:-.:!:::::-.• .:•
y 171:40.I.:/ii;.;;I:J;i1;: : :.-77:: :' % ,,,,, ,.4.,f,),.-.,,, ,,....,.. 1 ' : .••••::"---'•—— —
t_ v`. •ar rid .,� -..,. ..,„.s
rrlr
1::'n:^..4 A` 1! pay ti., 2 }'' j .........
v
7
jj
�... 1 'f.Jr`. �a, � iSSS• �'!i4 'C i _I 1
t, ���Y _ k i ]
�`\ J:s?7 •,,;4. 4,..try_.V•
/ ` ,�ix.iLX ly,:;• r,: it
.,....—
1
tn
mrn
= SUTHERLANDS PLALA, LLC SUTHERLANDS PLAZA — 2920 "L" ST. OMAHA, NE
0
W 2411 S.24TH STREET J
LANDSCAPING PLAN W
--f OMAHA,NE.68107 PHONE-(402)734-5337
' 6 co i ... r,v,,,,,.),,,,, ••-.. f 1,,ikli1/4,,,,t1
8 E 1 l'.44,ttflr:?§i'''' ';'.1. '._— 4 sir'e2'*'''''S;''7/i
N .
r
N», I iii I I
' . I
g
Ell ;.r� 1 1
1 Y tiff! I .....,., J
1 _ W
i............
1
a ,f 1 1
■ am_ 1
I ' — 1
0 7::1. 1
el l
1
,9)___ t ............_ 1
- ___H:2
, �l 1 a.
/ 1/11/) 7‘..-'' ,,,
/ /
14"
% /,4=7 f
;(,:,i//c4 '
' : t ` ...°Ef:�....
/..1,,....,) _.,,, it
i://
i l';:°
/ 1§1 ri
-•„/- ,,. l_r_11 1 [ 1 11-
.,�. ......
K-J i
'^",,„yam°; *„,,~- M -i , x
I
1 1
i
I
I ,,�
x SUT HERLANDS PLAZA, LLC SUTHERLANDS PLAZA - 2920 "L" ST. OMAHA, NE N gl
o_1
m 2411 S.24TH STREET A J
-1 OMAHA.NE.68107 PHONE-(402)734-5337 SIGN PLAN
W
. oi a 1
m i ;i 7`. '+ ate; , .
a k1t1. '"l ei€` '0.. s py�-s 1
ip
„ ti . 1 IV M g[Cf E 4
Z i r. Y `` ,k t ``'LP ��3h
1 s 6 ii€< l
3 k yi'l 1 r'�rsi \i iy • 4 0 -
' :4 k l 1 �
7E
\ \\!
XI j i 1 i\\
1 c j ti ,k 1: = \ I .,f 1,..
j ill
•
1 t'2_j., :".il i i, i i V ' i -, lt:i
i ,,., 41., `.0,1 it. k 1 ir •i ,fi ktykl,
! a t•1 -• • .. , •,� 1 p f' 1 i x
tl, i 11• S1I t1` 1 .
l 1 1111 I ' 11`IG
i.
~ "W^+� 1 ,1tlinii
. 11l �, 1 11A J 1 l
,),k
r"T li 'R I tl
.1 k'1 f
l' ; 1 j1t '.
• , , . 7•,it
1,0,,.1,--1•_\-.•.-.,•1.7:•:t.:;•4,,„:I..-•M:1A;,.i,.,T.l 1.i4iR.1','.-'.
.:i;:.1
! 4 !-,'- . ;,.
t� • y a N 1
ttr, - -'*, ' r"kkk, 1 1%1 kl'All:$1!Ii. 4
1
r�
SUTHERLANDS PLAZA, LLC SUTHERLANDS PLAZA — 2920 "L" ST. OMAHA, NE N N
2411 S.24TH STREET
• OMAHA,NE.68107 PHONE-(402)734-6337 DEMOLmON PLAN W
1. • $ JI
Lff fl 1 ii LE i i E g p�
�i ° g r EXHIBIT "B" /
t ist 4 g €g
Y aeii /
ii f qA C a onniYiji /
ic � /'
Yn _e:4E � —
"1 1 ig I //-
Mn iCY: -- --- ++/
y /
;Y'ysY 6 �' /— /
.CL.Y,
�fi / / /
I gyp" ' — / a /
♦
Q I — / 14 /
- ram%
�— o ..I.-"/ --- /.y_ /�
I ;t �' -- /,a Fes' / a
i 1j 1 i I s,. ss — '° /
e F; F _� II e° a ;o �'- // /' 1
/ g i ---i Of -- )— t /
1f D!- f "‘-ss'i
7 + pQ fi Lp
1 IhI7 R I the 14, ' i =° v f I I i_ ` Et`P-I s 5yn PO I' 1 I i r
JE III
I
1-3•
ii i Ii
g titt:
I11I1111HI!JIUIII
111111
I1IUIHH1
g.
7f b IJ f R i i+iligiaa11 1 I'i 6 Illi Il a] C iD n
Ilk a e i /1/1 il Till
• 9 : ! N m
Ililli
- €1 ,e 1111111;0$ J iJ F a
(53
iHi
UI! J iipiti i=iiiti U 1uiiiiIi! 111 . I g
til
111,01.111114.M.
7 3 1 0 I2a� atai i4 J ih'IiIL'
J w !
III o
•
N!t 1 1003114 1ii: Ig1IIn1$ tf lIi 5 .J
� i J. W
III a ' iqqi
!PEP!!
f1ff,1 IIgIHXff
`` �"tt. ]EM CONSULTING GROUP,INC.
�• " SUTHERLANDSPLAZA FINAL PLAT ENGINEERS•PLANNERS•SURVEYORS
Ji a ..a.aw u.,0 true ruwoosnw
o.+
•
EXHIBIT "C"
THIS BOND HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933
(THE " '33 ACT") AND MAY NOT BE TRANSFERRED, ASSIGNED, SOLD OR
HYPOTHECATED UNLESS A REGISTRATION STATEMENT UNDER THE '33 ACT
SHALL BE IN EFFECT WITH RESPECT THERETO AND THERE SHALL HAVE BEEN
COMPLIANCE WITH THE '33 ACT AND ALL APPLICABLE RULES AND
REGULATIONS THEREUNDER, OR THERE SHALL HAVE BEEN DELIVERED TO THE
CITY OF OMAHA PRIOR TO TRANSFER, ASSIGNMENT, SALE OR HYPOTHECATION
AN OPINION OF COUNSEL, SATISFACTORY TO THE CITY OF OMAHA TO THE
EFFECT THAT REGISTRATION UNDER THE '33 ACT IS NOT REQUIRED.
REDEVELOPMENT PROMISSORY NOTE
$510,750.00 /,. / p� ,20Q 5'
FOR VALUE RECEIVED, the Undersigned, Borrower, promises to pay Sutherlands
Plaza, LLC, 2411 "0" Street, Omaha, Nebraska, Holder, and/or its assigns, the principal sum of
Five Hundred Ten Thousand Seven Hundred Fifty Dollars ($510,750.00), together with interest
thereon at the rate of six and one-half percent (6.5%) per annum from the date of the execution
of this Note until paid in full. The principal balance and interest thereon shall be due and
payable to the holder of said Redevelopment Promissory Note as and at such time as any excess
ad valorem taxes generated by the Redevelopment Project as set forth in that certain
Redevelopment Agreement dated the /Q 7-2- day of
200_5, by and between the City of Omaha, Borrower, and the Ho der, the "Redevelopment
Agreement") are collected by the City of Omaha and available for the retirement of this debt.
In the event of default under said Redevelopment Promissory Note, all sums secured by
this Note or any other agreement securing this Note shall bear interest at a rate equal to five
percent (5%) above the regional prime or base rate as used by the Bank of Nebraska, 7223 South
84 Street, LaVista, Nebraska, from time to time, however, in the event said interest rate exceeds
the maximum rate allowable by law then such rate of interest shall equal the highest legal rate
available.
Borrower may prepay the principal amount outstanding in whole or in part, without the
prior consent of the Holder.
•
In the event the monies collected and held in that special fund established under Section
18-2147 of the Nebraska Revised Statutes and pursuant to the Redevelopment Agreement are
insufficient to pay in full all amounts due and owing at a date fifteen (15) years from the
effective date of the Redevelopment Plan, and all excess ad valorem taxes generated by the
Redevelopment Project, as set forth in the Redevelopment Agreement, have been collected by
the City of Omaha and have been paid, immediately upon being available, towards the retirement
of the amounts due hereunder, then, at said date fifteen (15) years from the effective date of the
- 1 -
•
Redevelopment Plan, the Holder shall waiver anyunpaidportion of theprincipal and interest due
P p
upon written request of the City of Omaha.
In the event this Note is referred to an attorney for collection the Holder shall be entitled
to reasonable attorney fees allowable by law and all Court costs and other expenses incurred in
connection with such collection.
The Borrower shall be in default in the event the Borrower shall fail to pay, when due,
any amount required hereunder.
Unless prohibited by law, the Holder may, at its option, declare the entire unpaid balance
of principal and interest immediately due and payable without notice or demand at any time after
default, as such term is defined in this paragraph.
Holder may at any time before or after default, exercise his right to set off all or any
portion of the indebtedness evidenced hereby against any liability or indebtedness of the Holder
to the Borrower without prior notice to the Borrower.
Demand, presentment, protest and notice of nonpayment under this Redevelopment
Promissory Note are hereby waived.
No delay or omission on the part of the Holder in exercising any remedy, right or option
under this Redevelopment Promissory Note shall operate as a waiver of such remedy, right or
option. In any event, a waiver on any one occasion shall not be construed as a waiver or bar to
any such remedy, right or option on a future occasion.
Any notice provided for in this Redevelopment Promissory Note to the Borrower or the
Holder shall be in writing and shall be given by regular mail to the Holder or Borrower, or at
such other address as either party may designate by notice in writing.
This Redevelopment Promissory Note shall be governed by and construed in accordance
with the Laws of the State of Nebraska. All payments hereunder shall be payable in lawful
money of the United States of America and shall be legal tender for public and private debts at
the time of payment.
CITY OF OMAHA, A Municipal
Corporation
By:
Mayor of the City o maha
ATTEST' APPROVED AS TO FO
City Clerk of the City of Omaha NI City Attorney
P:\PLN2\1 53 l8maf.doc
- 2 -
•
EXHIBIT "D"
EQUAL EMPLOYMENT OPPORTUNITY CLAUSE
During the performance of this contract, the Contractor agrees as follows:
(1) The Contractor shall not discriminate against any employee applicant for employment
because of race,religion,color,sex,national origin,or disability as defined by the Americans
with Disabilities Act of 1990 and Omaha Municipal Code 13-82. The Contractor shall take
affirmative action to ensure that applicants are employed and that employees are treated
during employment without regard to their race,religion, color, sex or national origin. The
Contractor shall take all actions necessary to comply with the Americans with Disabilities
Act of 1990 and Omaha Municipal Code (Chapter 13) including, but not limited to,
reasonable accommodation. As used herein, the word "treated" shall mean and include,
without limitation, the following: Recruited, whether advertising or by other means;
compensated;selected for training,including apprenticeship;promoted;upgraded;demoted;
downgraded;transferred;laid off;and terminated. The Contractor agrees to and shall post in
conspicuous places, available to employees and applicants for employment, notices to be
provided by the contracting officers setting forth the provisions of this nondiscrimination
clause.
(2) The Contractor shall, in all solicitations or advertisements for employees placed by or on
behalf of the Contractor, state that all qualified applicants will receive consideration for
employment without regard to race, religion, color, sex, national origin, or disability as
recognized under 42 USCS 12101 et seq.
(3) The Contractor shall send to each labor union or representative of workers with which he has
a collective bargaining agreement or other contract or understanding a notice advising the
labor union or worker's representative of the Contractor's commitments under the Equal
Employment Opportunity Clause of the City and shall post copies of the notice in
conspicuous places available to employees and applicants for employment.
(4) The Contractor shall furnish to the contract compliance officer all Federal forms containing
the information and reports required by the Federal government for Federal contracts under
Federal rules and regulations,and including the information required by Sections 10-192 to
10-194, inclusive, and shall permit reasonable access to his records. Records accessible to
the Contract Compliance Officer shall be those which are related to Paragraphs(1)through
(7)of this subsection and only after reasonable notice is given the Contractor. The purpose
for this provision is to provide for investigation to ascertain compliance with the program
provided for herein.
- 1 -
•
(5) The Contractor shall take such actions with respect to any subcontractor as the City may
direct as a means of enforcing the provisions of Paragraphs(1)through(7)herein,including
penalties and sanctions for noncompliance; however, in the event the Contractor becomes
involved in or is threatened with litigation as the result of such directions by the City, the
City will enter into such litigation as necessary to protect the interests of the City and to
effectuate the provisions of this division; and in the case of contracts receiving Federal
assistance, the Contractor or the City may request the United States to enter into such
litigation to protect the interests of the United States.
(6) The Contractor shall file and shall cause his subcontractors,if any,to file compliance reports
with the Contractor in the same form and to the same extent as required by the Federal
government for Federal contracts under Federal rules and regulations. Such compliance
reports shall be filed with the Contract Compliance Officer. Compliance reports filed at such
times as directed shall contain information as to the employment practices, policies,
programs and statistics of the Contractor and his subcontractors.
(7) The Contractor shall include the provisions of Paragraphs (1) through (7) of this Section,
"Equal Employment Opportunity Clause", and Section 10-193 in every subcontract or
purchase order so that such provisions will be binding upon each subcontractor or vendor.
P:\PLN3\7810z.doc
- 2 -
ASSIGNMENT OF REDEVELOPMENT PROMISSORY NOTE
The undersigned, Sutherlands Plaza, LLC ("Assignor"), for value received, does hereby sell, assign, transfer,
and set over to Nebraska State Bank of Omaha ("Assignee"), all monies due or to become due under a certain
Redevelopment Promissory Note in the amount of Five Hundred Ten Thousand Seven Hundred Fifty Dollars
($510,750.00) dated May 2, 2005 ("Note") between Assignor and the City of Omaha, a Municipal Corporation, said
Note relating to a Redevelopment Agreement dated April 19,2005 between the Assignor and the City of Omaha.
Assignor represents and warrants to Assignee that there are no defenses,offsets or counterclaims to such Note,
and that such Note has not been transferred, assigned, pledged, encumbered or otherwise disposed of, and is now
owned by the Assignor free and clear of all liens, security interests and encumbrances of any nature whatsoever.
Assignor hereby nominates, and irrevocably constitutes and appoints the Assignee, with full power of
substitution, as its true and lawful attorney-in-fact with full irrevocable power and authority in the place and stead of
the Assignor or in the Assignee's own name, to receive,receipt and sue for all monies_dge upon such Note,to endorse
the name of the Assignor on all commercial paper given in payment or in part payment thereof, to settle, adjust, or
compromise any claim thereunder as fully as the Assignor could do itself and to take any and all other appropriate
action and to execute any and all other documents and instruments that may be necessary or-useful to collect on any
monies due or to become due under such Note and that Assignor will promptly deliver or cause to be delivered to the
Assignee all sums which may be collected by it or paid to it thereon. This Power of Attorney is a power coupled with
an interest and is irrevocable.
Dated: This -3 day of ,i j ,2006.
SUTHERLANDS PLAZA,LLC
By:
Name:Robert L. Pelshaw. Sam urante
Title: Member, Member
CONSENT TO ASSIGNMENT BY CITY OF OMAHA
We have received your notice of the assignment of the Redevelopment Promissory Note and agree that no
other party has notified us of an assignment or of any pledging of the Note and hereby agree pursuant to this
Assignment to make all payments under the Note directly to Nebraska State Bank of Omaha.
CITY OF OMAHA '
Date: /p7A,s By: )rlet...4-1.a..."
Mayor
ATTEST:
APPROVED AS TO FORM:
/�yC.•---] Ci rk of the City o Omaha
1y17/06` Date: 7/o17/a
City Attorney
204260
r)
j 1, r
0 NI 0 V TO
CD co m co C
� CD
a.
I-I
C N 1 - n
Z I Z
Q mm CI m ~
0
74 m Z
m
v 73
CA
Z Z
z GI
A
m
71 _ I
rt fl;. -1 rtXc-rsw aZ
CD
oxi
Cu
rn � cuc ;" CD � -0 7a00 0
0 2 °C
� � oo � � ° a
-a � 3 , 1o � z z
ril__. 4 r..
t.
i, ,N ... 0
. 1.1.1 \ % c' °J Z
0 i 5oEdzI Ca- m O
rinO� N (D r tC c OX-1 , trC :::Dr? ..01:0,,En-,
[D 'On o •' mar
Ort ' o
W
,. ro nmo = art 3
C * < O = rOt r* O
7C Z % [D = -h (D 0' r-r CD
T
Di
i'-
• -"NOTICE TO TO PUBLIC" THE DAILY RECORD
The following Ordinance has been set for
City Council hearing on April 19,2005, at OF OMt�ilL�A H,�
2:00 p.m., in the Legislative Chambers,
Omaha/Douglas Civic Canter, 1819Farnam RONALD A. HENNINGSEN, Publisher
Street, at which hearing allllpersons
interested, D be heard. a PROOF OF PUBLICATION
AN ORDINANCEapproving
redevelopment and tax increment financing
loan agreement with the Sutherlands Plaza,
LLC, 2411 -0' Street, Suite 2, Omaha, UNITED STATES OF AMERICA,
Nebraska, for the Mixed Use commercial
redevelopment of Sutherlands Plaza, The State of Nebraska, SS
located at 2900'L'Street;and providing for District of Nebraska,
an effective date. BUSTER BROWN, County of Douglas,
City Clerk City of Omaha,
4-1-05
J.BOYD
being duly sworn,deposes and says that she is
LEGAL EDITOR
of THE DAILY RECORD, of Omaha, a legal newspaper, printed and
published daily in the English language, having a bona fide paid
circulation in Douglas County in excess of 300 copies, printed in
Omaha,in said County of Douglas,for more than fifty-two weeks last
past; that the printed notice hereto attached was published in THE
DAILY RECORD,of Omaha,on
April 1, 2005
1iJber during that time s regularly published and
gi krld l the County of u ,an tate of Nebraska.
.....
1 : COW3: Subscri in my presence and sworn to before
:l
blisherWei S $ 8 me this 1st day of
di)i k4No,pi �O0°� 20_05
'AJ Notary P h i an ouglas County,
St to of Nebraska
"NOTICE TO PUBLIC"
•
ORDINANCE NO.36994 THE DAILY RECORD
AN ORDINANCE approving a
redevelopment and tax increment financing OF OMAHA
A I A
loan agreement with the Sutherlands Plaza,
LLC, 2411 '0' Street, Suite 2, Omaha,
Nebraska, for the Mixed Use commercial RONALD A. HENNINGSEN, Publisher
redevelopment of Sutherlands Plazar PROOF OF PUBLICATION
locatedeL'at 2900' Street;and providing for
an effective date.
SUMMARY:
AN ORDINANCE approving a UNITED STATES OF AMERICA,
redevelopment and tax increment financing
loan agreement with the Sutherlands Plaza, The State of Nebraska, Ss.
LLC, 2411 '0' Street, Suite 2, Omaha, District of Nebraska,
Nebraska, for the Mixed Use commercial
redevelopment of Sutherlands Plaza, County of Douglas,
located at 2900'L'Street;and providing for City of Omaha,
an effective date.
PASSED: April 19,2005, 6-0
APPROVED BY: J.BOYD
MIKE FAHEY 4/21/05
MAYOR OF THE being duly sworn,deposes and says that she is
CITY OF OMAHA
BUSTER BROWN,
City Clerk LEGAL EDITOR
4-27-05
of THE DAILY RECORD, of Omaha, a legal newspaper, printed and
published daily in the English language, having a bona fide paid
circulation in Douglas County in excess of 300 copies, printed in
Omaha,in said County of Douglas,for more than fifty-two weeks last
past; that the printed notice hereto attached was published in THE
DAILY RECORD,of Omaha,on
April 27 , 2005
That r during that time ' •gularly published and
in g n, he County of D r : 9 State of Nebraska.
i • Subscrib my. -sence :. d 1.rn to before
SAY.
P h§Her'sFeb: . 9" t me this 27 th I day of
v • L'is;-' [::J
Atir 'tioiSgl/Copies $ p / 20_0_5_
•
Q r
c OF NEe% - Notary Pu. i • an. for I ouglas County,
State of Nebraska