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RES 2004-0840 - 701 South 15 LLC TIF redevelopment plan �N1AHA,NF 4.0` RECEIVED C E I V E � Planning Department �,," n# Omaha/Douglas Civic Center alt�jtle�'�'� � 04 Jd i 2 AM 1O: 0 1819 Farnam Street,Suite 1100 � r;?,d1,, 7,i Omaha,Nebraska 68183-0002 o o_ ^ �, ry AC i'•fir ;+ (4et, Suite 1100 `` = (402)444-5150 o,�'��D FE1310. / . r E 7 �ti Telefax(402)444-6140 City of Omaha Robert C.Peters Mike Fahey,Mayor Director June 29, 2004 Honorable President • and Members of the City Council, The attached proposed Resolution transmits the 701 SOUTH 15, LLC Tax Increment Financing Redevelopment Plan for your review and approval. The plan provides the framework for the conversion of property that is located in and contributes to the Omaha Rail and Commerce Historic District. The properties to be converted are the International Harvester Company Building(1924) 701 S. 15th Street and the South 15th Building(1910) 709 S. 15th Street. Both buildings will be combined to create a new urban office environment. The target market consists of firms that work in areas that rely on creative energy in their daily existence, such as architectural, photography and advertising. When finished, the project will include approximately 14,420 SF of"loft style" office space and 10 off-street parking stalls. There are two commercial leases in place that utilizes 67% of the available space. The plan authorizes the use of Tax Increment Financing as tool to assist in financing the TIF eligible cost associated with the project. The total project cost is estimated to be approximately $1,492,053 with $1,023,786 in project TIF eligible hard cost. The developer has requested $125,000 in TIF, which will be repaid from the increase in taxes as a result of project completion. The project is in compliance with Nebraska community Development law and appropriate City of Omaha Ordinances. The entire subject neighborhood is in the redevelopment stage of its life cycle. Examples of other renovation projects completed during the past five years in or near the neighborhood include the conversion of the 1508 Leavenworth building into Stonehouse Publishing and Photography Studio, the renovation of the Bekins Storage Building at 621 South 15th Street into the Joslyn Loft Apartments, a luxury apartment building and the conversion of the O'Keefe Warehouse into O'Keeffe Elevator Corporate Offices. All windows, mechanical, and electrical systems will be replaced. With the exception of the addition of tree wells and landscaping, the outside facade will not change from its original character. Inside, the existing brick walls and metal trusses will be cleaned to display the original industrial look, along with a 50' skylight which will be reconditioned to enhance the natural lighting. Due to poor structural condition and the need to create off-street parking, a portion of the 709 building will be removed and parking added. Honorable President and Members of the City Council Page 2 Your favorable consideration of this Resolution is requested. Sincerely, Referred to City Council for Consideration: ,/� /-� v' .o iz — z - cy Robert C. Peters��fa-� Date Mayor's Office/Title Date Planning Director Q' Approved as to Funding: Approved: Li'4,104 6 G Carol A. Ebdon Date Norm Jackman, P.E. Date Finance Director Acting Public Works Director P:\PLN2\14611mafdoc Notice of Publication and Public Hearing: July 1 and July 8, 2004 Public Hearing: July 20, 2004 • < NOISIAM wow-o�za�'rnmrn:aa<•i. wo�'o�r ivwa '- 0 a,�„dwza,:, mar as 0 1N3Wd013A30 3NOIS3l18 NV1d 311S 1flOAV1 0.aG-o.:c<ao.-):Xt., oeOU-oEE«o-):-ia_. 0 0 Nrel :AO P4WOCG 451.09 V)4SV21533N'VHVWO °VON 111W O109£901, . auoAstwns puo-i ,g c.iawuibu3 6uginauoo V 8 1•00z T ROI 'MVO VO 13321J S 41S L Hif10S L09 L OL -0N1 '2l3NMO0 N3SS332lG 'NOSd1OH1 z N S ,oz - .l TWOS b +) B G x 7 0 o a0 w �i gw n U $ N �_ o �p cl ../-�\ o 03 _ oh a K8o . 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S,.• 0_-_ a li+-rr r • •• •Tons -� 't fia ... millifirlit i , al,. emu r -pry Vol,M�� �` .. ilk I' — ` - xam,-��•�`re•TI, 1 ) w 'i' ...�..-'�T}. t • +i.i _1 l ilk.' t, •i.'` aA��slrelr ■ .1 .►.. • r . ! r"-R�rl{y�{ V 1 • . • ii Exhibit "A" 701 SOUTH 15, LLC , , TAX INCREMENT FINANCING REDEVELOPMENT PROJECT PLAN COMMERCIAL OFFICE BUILDING RENOVATION & DEVELOPMENT 15TH AND JONES STREETS OMAHA, NEBRASKA May, 2004 pM�HA,N F 4p�` 1��7 C` `,�s r� 11 KAP:err_. "'�� w Zr� NCO.mro / j+ - p - . q PLANNING•OMAHA 441'ED FE131°' Mike Fahey, Mayor City of Omaha Robert C. Peters, Director Planning Department Omaha/Douglas Civic Center 1819 Farnam Street Omaha, Nebraska 68183 ' 14 CASE: C3-04-146 APPLICANT: Bluestone Development LLC REQUEST: Approval of 701 SOUTH 15 STREET LLC TAX INCREMENT FINANCING REDEVELOPMENT PROJECT PLAN COMMERCIAL OFFICE BUILDING LOCATION: 701 & 709 S. 15th Street SUBJECT AREA IS SHADED -JUNE 2004 I -- I i i BD l l ! CBD CBD i I i ! DS CBD DS i CBD DS 1 DS CBD i i ( Jones St — — _. -- -- DS iwor' IIIIIIIIIIIIII S tii DS �1womemoL tL , .. .(‘E, i DS DS DS DS Leavenworth S,t_..........._.-----....jr.......------------—-----_.........__......._-. DS T0-1 DS • DS DS ! : 1 l I s DS DS RR MarcySt _.._..._.....__........I -^ N r200 _0 200 400 Feet A. Project Description Rail & Commerce District of the Past This building is located in and contributes to the Omaha Rail and Commerce Historic District. The district is significant to the commercial development of Omaha as a wholesale/manufacturing area directly related to passenger and freight rail lines running through the southeast portion of Downtown Omaha. The neighborhood was originally the main service provider to Omaha's retail, commercial and financial center. However, the area began to deteriorate in the 1960's as businesses started moving west to the newer suburbs. Along with these closings came an acceleration of deterioration in many existing buildings, a decrease in residential living units, and a relative lack of entertainment and recreational facilities. Rail & Commerce District of the Future The entire subject neighborhood is in the redevelopment stage of its life cycle. While many of the older properties in the neighborhood have been purchased and the improvements removed to use the site for construction of new facilities, there are nonetheless many older properties, which have been purchased and subsequently renovated. Examples of new construction or renovation projects completed during the past five years in or near the neighborhood include: • Conversion of the 1508 Leavenworth building into Stonehouse Publishing and Photography Studio; • Renovation of the Bekins Storage Building at 621 South 15th Street into the Joslyn Loft Apartments, a luxury apartment building; • Conversion of the O'Keefe Warehouse into O'Keeffe Elevator Corporate Offices; • Construction of Hilton Inn Hotel at 11 th &Dodge Streets; • Potential redevelopment of the Kimball Laundry Building at 15th &Jones Streets. Project Description International Harvester Company Building(1924) 701 S. 15th Street George Prinz designed this truck depot building for International Harvester in 1924. This single-story brick building is constructed of steel trusses with concrete floor. The main entrance of the building, on the west facade, is centrally located with single pane storefront windows to the south and boarded-over window openings to the north. The main decorative elements of the buildings are located on a west facade, where a stepped gabled false front decorates the flat roof. 2 South 15th Building(1910) 709 S. 15th Street This building built in 1910 for Frank G. Burkley, is constructed of wood posts, brick curtain walls, and a flat roof. The one-story building measures 50 x 132 feet. The cornice is corbelled and extends slightly above the roof line. A string course runs the entire facade of the building just below the cornice. The primary facade faces west and contains three windows on the far north. As Renovated Both buildings will be combined to create a new urban office environment. The target market will be firms who work in areas that rely on creative energy in their daily existence, such as architectural, photography and advertising. When finished, the project will include approximately 15,000 SF of "loft style" office space and 10 off-street parking stalls. All windows, mechanical, and electrical systems will be replaced. With the exception of the addition of tree wells and landscaping, the outside facade will not change from its original character. Inside, the existing brick walls and metal trusses will be cleaned to display the original industrial look, along with a 50' skylight which will be reconditioned to enhance the natural lighting. Due to poor structural condition and the need to create off-street parking, a portion of the 709 building will be removed and parking added in that space. 3 B. Development Financing Plan USE OF FUNDS PURCHASE OF BUILDING * $198,200 CONSTRUCTION COSTS 590,528 SOFT COSTS (see detail in Appendix B) 33,000 TENANT IMPROVMENTS 206,058 COSTS FOR TIF CALC 1,027,786 ADDITIONAL COSTS 464,267 TOTAL USES OF FUNDS $1,492,053 SOURCE OF FUNDS US BANK LOAN $872,091 EQUITY 494,962 TAX INCREMENT FINANCING 125,000 TOTAL SOURCES OF FUNDS $1,492,053 US BANK LOAN LOAN AMOUNT $872,091 DEBT SERVICE RATIO 1.47% INTEREST RATE 8.0% TERM 20 YEARS PAYMENT $88,824 *Purchase Price $400,000 Appraised Value (201,800) Difference Included in TIF Base $198,200 4 C. Proforma 2005 2006 2007 RENTAL INCOME 157,755 157,755 157,755 EXPENSE RECAPTURE 40,960 41,653 42,360 VACANCY (5%) (9,936) (9,970) (10,006) TOTAL REVENUE 188,779 189,437 190,109 CAM 4,000 4,080 4,162 REPAIRS &MAINTENANCE 5,000 5,100 5,202 MANAGEMENT FEE 9,465 9,465 9,465 RE TAXES 27,000 27,540 28,091 INSURANCE 7,500 7,650 7,803 MISCELLANEOUS 5,000 5,100 5,202 TOTAL EXPENSES 57,965 58,935 59,925 NET OPERATING INCOME 130,814 130,502 130,184 WITH TIF: DEBT SERVICE 88,824 88,824 88,824 DEBT COVERAGE RATIO 1.47 1.47 1.47 CASH AFTER DEBT SERVICE 41,989 41,678 41,360 COC RETURN 8.48% 8.42% 8.36% WITHOUT TIF: DEBT SERVICE 8,824 88,824 88,824 ADD. DEBT SERVICE 19,478 19,478 19,478 DEBT COVERAGE RATIO 1.21 1.20 1.20 CASH AFTER DEBT SERVICE 22,512 22,200 21,882 COC RETURN 4.55% 4.49% 4.42% 5 D. Statement And Demonstration That The Project Would Not Proceed Without The Use Of Tax Increment Financing Without the successful incorporation of Tax Increment Financing, it would not be economically feasible to proceed with this project. TIF blended with equity forms the critical basis for the remaining first mortgage to be economically viable. WITH WITHOUT TIF TIF ANNUAL CATEGORIES GROSS ANNUAL INCOME 198,715 198,715 LESS VACANCY(5%) (9,936) (9,936) LESS EXPENSES (30,965) (30,965) (not including RE taxes) LESS DEBT SERVICE (primary) (88,824) (88,824) LESS DEBT SERVICE (TIF) (27,000) (paid via RE taxes) LESS ADDITIONAL DEBT SERVICE (19,478) LESS REAL ESTATE TAXES (27,000) NET PROJECTED ANNUAL CASH FLOW 41,990 22,512 RETURN ON INVESTMENT 8.48% 4.55% As of the date of this application, there are two signed commercial leases comprising 9,707 SF of the total 14,420 SF to be leased, or 67%, with the businesses identified below. Both leases are subject to the owner obtaining TIF in order for the project to be a reality. Both tenants have stated they would not occupy typical office space located in Downtown Omaha. Construction on the building will begin in September 2004 with occupancy beginning January 2005 for the two leases already signed. BVH Architects 7,994 SF 10-year lease Bluestone Development 1,713 SF 5-year lease Summary Conclusion: Without Tax Increment Financing there would be insufficient return for the partners to move forward with the project. Therefore, the partners have determined that they will not complete the project without Tax Increment Financing. 6 E. Evidence That The Project Meets Evaluation Criteria El: MANDATORY CRITERIA 1. The project is located in the blighted area A-North Omaha and Downtown Omaha. 2. The project furthers the objectives of the City's Comprehensive Plan. The City's Master Plan includes both commercial and residential infill development in targeted areas. This building is currently vacant and underutilized and is not bringing additional tax value to the City. The redevelopment will eliminate the potential for further deterioration of the building and will allow expanded space for growing companies. In addition, this redevelopment complements other expansion that is happening in the adjacent Old Market and will improve the character of the area it resides in. 3. The use of TIF will not result in a loss of pre-existing tax revenues to the City and other taxing jurisdictions. 4. This rehabilitation would not be economically feasible without the use of Tax Increment Financing (see Section E). 5. The building is currently vacant and will remain in that status until it is rehabbed. The project will turn a vacant and unsafe industrial building into a useful part of Omaha's Downtown Commercial Community. E2: DISCRETIONARY CRITERIA 1. The project is located in the blighted area. 2. The project involves the rehabilitation of a building that is located in the Rail and Commerce District, a local landmark district. 3. The building displays conditions of blight 4. The project involves the start-up of an entirely new business. COST BENEFIT ANALYSIS 1. The use of Tax Increment Financing will not result in tax shifts. The previous payment of taxes based on current valuation will continue. A level of taxes will flow to the taxing entities based on the sale of the property. Only the increased value of revenues resulting from the improvements completed at the site will be applied to the cost of the improvements. The County Assessor will determine the current site valuation based on current sales information and set a value for tax purposes. J 2. There are no concerns with the need for or the availability of public infrastructure. There are no community public service needs, impacts or local tax impacts arising from this project. This custom commercial office development opportunity in Downtown is a market-driven development and market forces will generate the revenue stream to facilitate the development. There is no diversion of existing taxes or increased demand for public services as a result of this project. The capacity of the infrastructure is more than adequate to serve any needs. The increased value of the site after completion of the office development in Downtown and the elimination of negative influences of the site justify the use of Tax Increment Financing. 3. This development project will not significantly impact other industries in the area except to increase demand for construction and any manufacturing supplies that are locally procured. There will possibly be a decrease and a corresponding increase in the demand for office space and for supportive services. This project will have a very positive impact in the area and continue to expand the need for additional supportive commercial and general retail services to meet the needs of the area. 4. This development will continue the excitement and emphasize the significance of development occurring in Downtown Omaha. There have been other projects that were implemented in the general area; however, this site remained as a negative asset in its blighted condition. The completed project will provide a new location for commercial businesses that will add increased real estate value to the site, increasing the tax base of the local taxing entities, and foster the continued development in this area. 5. The site and abutting public rights-of-way are in a designated blighted and substandard area and a current redevelopment project plan redevelopment area. 6. The project will further objectives of the City's Master Plan and will be a catalyst for other developments. 7. This project will develop property that is presently vacant. As a result, it will eliminate the possibility of illegal dumping and environmental contamination that may result from the illegal dumping. 8. During the TIF amortization period, the underlying real property will continue to be taxed on the base assessed value. 8 F. INFRASTRUCTURE Fl: PUBLIC IMPROVEMENTS: The 701 South 15,LLC project site is on the southwest corner of Jones Street at 15th Street. There are no major public improvements to be built at this established Downtown location. Improvements as may be required by the Public Works Department will be installed. There will be new sidewalks, curbs, and gutters to accommodate the development. Sanitary and storm sewers are available in the abutting right-of- way. Public access to the site is provided through the utilization of Jones, 15th, and Leavenworth Streets that adequately provide effective transportation to the site. F2: ZONING/PARKING: The site is zoned as Downtown Service (DS). The zoning determines site use, identifies if there are any special site requirements, development standards and parking. Recognizing the need for parking to satisfy the zoning regulations, to meet the needs of the tenants and the fact that there is limited off-site parking in the area, the owners will be providing limited parking capacity (10 stalls) in the building. F3: UTILITIES: The site is a fully serviced Downtown location with gas, water and electricity available to the site. No new utilities are required at the site. 9 u } Appendix 1 General Contractor: Lund—Ross Constructors, Inc Larry Lundquist 1112 North 13th Street Omaha,NE 68102 402-342-2810 Architecture: BVH Architects Paul Jeffrey 1209 Harney Street Omaha, NE 68102 402-345-3060 Legal: Fraser Stryker Meusey Olson Boyer&Bloch, PC Bob Rieke 500 Energy Plaza, 409 South 17th Street Omaha,NE 68102 402-341-6000 Developer: Bluestone Development, LLC Christian Christensen 11422 Miracle Hills Drive, Suite 400 Omaha,NE 68154 402-997-7511 10 Appendix 2 Costs In TIF Calc Not In TIF Cale Hard Costs Estimated Construction Costs (shell improvements) 520,000 Initial Hard Costs 2,028 Contingency 53,500 Environmental Clean Up (Tile) 15,000 Total Construction Costs 590,528 Building Shell 198,200 201,800 Tenant Improvements 206,058 Total Hard Costs 994,786 201,800 Soft Costs Development Fee 75,000 Construction Interest 20,000 Insurance & Taxes During Construction 2,000 Lease Up Reserves and Rent Concessions 26,246 Survey 1,500 Engineering/ Structural Report 3,000 Architectural 18,000 Appraisal 4,000 Phase I and Phase 2 Environmental 8,000 Financing Fees and Closing Costs (Construction Loan) 21,802 Financing Fees and Closing Costs (Permanent Loan) 21,802 Financing Fees and Closing Costs (TIF) 3,125 Legal Fees 12,000 Leasing Commissions 46,898 Initial Soft Costs 8,344 Original Loan and Renewal Costs 3,750 Contingency 20,000 Total Soft Costs 33,000 262,467 Total Hard and Soft Costs 1,027,786 464,267 1,492,053 P:\PLN2\14601maf.doc 11 r - I • I . 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' : i k +R • I^+f'► tr t' .0‘.et 44 s , 1 6 ;II 1i i p it F E , 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 downtown to eliminate conditions which are detrimental to public health,safety and welfare,by developing vacant,underutilized property within these areas; and, Whereas,Bluestone Development, on behalf of 701 SOUTH 15, LLC, secured 701 South 15th Street, a.40-acre vacant and underutilized site between Jones &Leavenworth Street on the southern boundary of the Old Market located in and contributing to the Omaha Rail and Commerce historic district in downtown (see Attachment 1 for complete legal description); and, WHEREAS,the 701 SOUTH 15,LLC Tax Increment Financing Redevelopment Plan proposes the development of a new urban office environment redevelopment project at the site as described in Exhibit"A", attached hereto and made a part hereof; and, WHEREAS,the 701 SOUTH 15,LLC Tax Increment Financing Redevelopment Plan provides the framework to implement the redevelopment concept proposed for the site; and, WHEREAS,the approximately .40- acre Tax Increment Financing Redevelopment project site is located within an area previously declared "blighted and substandard and in need of redevelopment" by City Council resolution and has been re-certified as blighted and substandard; and, WHEREAS,the 701 SOUTH 15,LLC Tax Increment Financing Redevelopment Plan provides for the use of TIF for site acquisition,public improvements and other costs associated with site renovation and development; 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 a c 2s 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 attached 701 SOUTH 15, LLC Tax Increment Financing Redevelopment Plan was approved by the City of Omaha Planning Board on June 2,2004 as the TIF project implementation plan for the development of the site identified as Lots 3&4,Block 196,City Lots as platted and recorded in Douglas County,Nebraska,together with the adjacent rights-of-way. NOW,THEREFORE,BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF OMAHA: THAT, the 701 SOUTH 15,LLC Tax Increment Financing Redevelopment Plan is the implementation plan for the 701 SOUTH 15, LLC TIF Redevelopment Project, as prepared by the Omaha City Planning Department, which contains 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 701 SOUTH 15,LLC Redevelopment Project Plan Area consisting of Lots 3 &4,Block 196,City Lots as platted and recorded in Douglas County,Nebraska, together with the adjacent rights-of-way, located at 15th and Jones Street. APPROVED AS TO FORM: � ooq /(5$1 CITY ATTORNEY DATE P:\PLN2\10823pj m.doc 04 - P(4144 By Councilmember Adopted JUL 2 0 2004/0"‘-- 77:a City Clerk, "Approved ! " " ' 7/dq// Mayor R • tit y co O { CD Izt N W p A' Q,CM (D O •F CADpzi 0 cm? "1-F O cN Q, O O d d 00 O2 g P UV CD CD 1 _ CCDD 5. (4 Or 1 0 Ci (� N N b t . (./1 N -' 3 !D 0 ' i, ' Z \ 4 • 0 w O v, o n�O BCD �-3 EN .1„ NI 0.. —• 0 — '-*, d 70 c7,* bt CD 0.'1:1 '—' M �r i R, v4ft' • n \a3 r, LOB O 0 O'- p, - " O O ("� • O q R fit? �p -s 4n ° b0c a. dNOz 5 Fr ~141.: to P) -LA CDOM J OM r. Q. CD ,--r . . :i . .. • k • . ..A • .).\ • • . . . . . , . . ., , . , . , . , , -(,, t --,.... . . . cst ,,.. ._,. . -4,, V" LI "NOTICE TO PUBLIC' THE DAILY RECORD NOTICE-OF PUBLIC NEARING ON THE 701 INC FINANCING SOUTH 16,LLC TAX OF OMAHA INCREMENT REDEVELOPMENT PLAN Notice is hereby given that the Omaha RONALD A. HENNINGSEN, Publisher atCt2 Council.m has set esoay,f Jliy ea ng 2004 PROOF OF PUBLICATION 2:00 p.m. as the date of Public Hearing on the 701 South 15,LLC Tax Inclement Financ- ing Redevelopment Plan. The 701 South 15, LLC Tax Increment UNITED STATES OF AMERICA, Financing Redevelopment Plan is approxi- mately.40 acre located between Jones and The State of Nebraska, ss. Leavenworth Streets on the southern District of Nebraska, boundary of the Old Market. The Redevel- opment Plan is located within an area de- County of Douglas, Glared blighted and substandard and in Cityof Omaha, of redevelopment. The 701 South 15, LLC Tax Increment Financing Redevelopment Plan proposes LYNDA K. HENNINGSEN the conversion of 701 South 15th Street ad(International9 Harvester Company Building) beingdulysworn,deposes and says that she is and 709 South 15th Street (South 15th P Y Building)to create a new urban office envi- . ronment. The project will include approxi- ASSOCIATE PUBLISHER mately 14,420 square feet of loft style'office space and ten off-street parking stalls. of THE DAILY RECORD, of Omaha, a legal newspaper,printed and The plan proposes $125,000 in Tax In- crement Financing. The total project costs published daily in the English language, having a bona fide paid estimated to by$1,492,053. A copy of said circulation in Douglas County in excess of 300 copies, printed in plan is available for public inspection in the City Clerks Office. Omaha,in said County of Douglas,for more than fifty-two weeks last Public Hearing will be held before the City past; that the printed notice hereto attached was published in THE Council of the City of Omaha, in the Legisla- tive Chambers,Omaha/Douglas Civic Center, DAILY RECORD,of Omaha,on 1819 Famam Street,Omaha, Nebraska. BUSTER BROWN, July 1 and 8, 2004 City Clerk ALL REQUESTS FOR SIGN LANGUAGE INTERPRETERS(SIGNERS) WILL REQUIRE A MINIMUM OF 48 HOURS ADVANCE NOTICE. IF ALTERNATIVE FORMATS ARE NEEDED ALL REQUESTS WILL REQUIRE A MINIMUM OF 72 HOURS ADVANCE NOTICE.PLEASE NOTIFY TAMMY BIODROWSK) - �•�� during that time was regularly published and 444-5553,IF ARRANGEMENTS NEED TO BE ,.° 'g1 } • e Cohn of Dougl , ate of Nebraska. MADE • h7-1&8-04 NOTARY • •' * CGi.:MiSSIGU c* b ribed in y presence and to before EXPIRES blister's Fee $ -' •5 me this 8th day of (0• July 04 Ad 'ti G}fpyge . • �' 20 '"'- Notary Publ- o as County, ate of Nebraska " ° PROOF OF PUBLICATION "NOTICE TO PUBLIC" NOTICE OF PUBLIC HEARING LLC TAX INCREMEN FINAHE 701 SOH NCIG REDEVELOPMENT PLAN AFFIDAVIT Vr Notice is hereby given that i the Omaha City YCouncil has • 200 p.m.aasuthe0,date4of State of Nebraska, County of Douglas, ss: Public Hearing on the 701 t Financing Redevelopment Plan. I The 701 South 15, LLC Tax Trawn Griffin Increment Financing ,being duly sworn,deposes and says Redevelopment Plan is approximately 40 acre jLeavenworth etStreets on and that he is an employee of The Omaha World-Herald, a legal daily newspaper r southern boundary of the ,' Old IdeveMpme at tPlan his � printed and published in the county of Douglas and State of Nebraska, and of located within an area declared blighted and � general circulation in the Counties of Douglas and Sarpy and State of Nebraska, substandard and in need of i, redevelopment. '. The 701 South 15, LLC Tax and tat thuttached printed notice was published in the said newspaper on the Increment Financing 1 4- y of July 04 Redevelopment Plan da A.D.,20. . . ., proposes the conversion of 701(In(International h 1l Harvesterh Street and that said newspaper is a legal newspaper under the statues of the State of Company Building) and 709 South Building)Street ease oua Nebraska. The above facts are within my personal knowledge. The Omaha loth to create a new urban office environment. The project 222,271 68 336 will Include approx m jta ely World-Herald s an average circulation of ' dail ' 14,,420 os uare ppfeet of "loft oft-stree parking stalls. ten Sunday,in 20. . The plan proposes S125,000 ' in Tax Increment Financing. The total to project cost is Advertising estimated d of said Sl plan05s I nspiection ino rthe u City blic (Signs ' . . e: Clerk's Office. Public Hearing will be held before the City Council of •the City of Omaha, In the Legislative Chambers, (�/( Omaha/Douglas Civic Subscribed in my presence and sworn to before me this Center,1819 Farnam Street, ,Omaha,Nebraska. day of July 20.04. a/6-i .CL. oe) r l 0-IL-CO-- Notary Public ' $. . ..5,,>' -7 5' >-J ..••ENE:pL DEBRA L.MARCO Printer's Fee =.: .... s MY COM MISSION'=XPIRES -y�NOtARY: Affidavit ''y8RtIs...` September 13,2007 Paid by 313-G8-007