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RES 1997-3396 Grace Plaza redevelopment plan Twentieth Place apartments project • o"+ NF Planning Department �H" RECEIVED s,����_ ; Omaha/Douglas Civic Center Wirt.% ��� 1819 Farnam Street,Suite 1100 xh7 NOV �¢ ��1 10: .`3i© Omaha,Nebraska 68183-0110 o a . _ (402)444-5200 �A��ti t` Ra',_ '�" (402)444-5150 4 O(y M" �; { }' �-,� { } Telefax(402)444-6140 O�'TFD FEBR�r LJ l'���11�, I�4 l:.E,;Ji��t�i tik I�F�� City of Omaha November 25, 1997 Hal Daub,Mayor Honorable President and Members of the City Council, The attached proposed Resolution is an Amendment to the Grace Plaza Redevelopment Plan as approved by the Omaha City Council on April 20, 1993 by Resolution No. 925. The Amended Grace Plaza Redevelopment Plan provides the mechanism for the City of Omaha to participate in the development of the Twentieth Place Apartments,which is the development of 18 townhomes in four buildings located between 16th Street on the east, 20th Street on the West, Grace Street on the north and Clark Street on the south. The project site is legally described as Lot 1, First Addition Twentieth Place, Lot 1, Second Addition Twentieth Place, City of Omaha. The Amendment to the previously approved Grace Plaza Redevelopment Plan authorizes the use of Tax Increment Financing to assist in the development of the Twentieth Place Apartments Project. The Resolution before you today approves the Amendment of the Grace Plaza Redevelopment Plan to implement the Twentieth Place Project as approved by the Omaha Planning Board on October 1, 1997. The Plan provides the opportunity for the City of Omaha to participate in the financing of the project up to the amount of$110,000.00 in Tax Increment Financing. The TIF will be repaid in 12.5 years from the increase in taxes generated from the completion of the project. The area is appropriately zoned for the housing development and is in compliance with land use and other regulatory requirements of the City of Omaha. 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. • • Honorable President and Members of the City Council Page 2 Your favorable consideration of the Amendment to the Grace Plaza Redevelopment Plan to implement the Twentieth Place Apartments Project consisting of an 18-unit townhome development is greatly appreciated. Respectfully submitted, Referred to City Coun '1 for Consideration: ` mow • l0•2.0 • �7 ' Robert C. Peters Date Mayor's Office ate Acting Planning Director • Approved: Approved: 0/0/30 k7 /.7 7 ouis A. D'E cole Date Don W. Elliott, P.E. finance Director Public Works Director Approved: 1/ 6//97 George . D vis Date Hum elations Director 5- Notice of Publication: November 27 and December 4, 1997 Notice of Public Hearing: December 16, 1997 P:\PLN2\6941.SKZ sf,, ... .- - .. . . .... ..-... . ,.. . . . . . . .. -. . .. .. . ._ . ._ ._. ATTACHMENT 1 . . . . ... . .. . .. .. _ .. . . .. . .7 . TWENTIETH PLACE REDEVELOPMENT PROJECT ..' . • • T1F BOUNDARY LEGAL DESCRIPTION • . . . . , ...-.. ._. . . • 1 I •••1_,........e.:0.„,..1 II :t: I ....... 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AS Put= me mom;R.mucus coutarr.razanAscA. • - - • -• . . . - •: -......•.-•.,•...•.•..••-......'.•.'•. /1 NC=•.-ofr • •••••••••• •. ...1/4L•1 _ • .t..)[1 4••4. 4r a 0• .0. ••••••••••••••4:..•.A,.•i••,•f•,"•.k.7• I E .4' CO.. •• • ...• -- . I F Exhibit "A" GRACE PLAZA REDEVELOPMENT PLAN TWENTIETH PLACE APARTMENTS AMENDMENT ONE Lot 1, First Addition Twentieth Place, Lot 1, Second Addition Twentieth Place, City of Omaha 0MAHA,Ar 04 II �'� erjK 1-,,wwfiiikgiv)Du, 4'2"ED FBBR� PLA'dIMAHA City of Omaha City of Omaha Hal Daub,Mayor Planning Department October, 1997 Omaha/Douglas Civic Center 1819 Farnam Street Omaha,Nebraska 68183 - . , • . - 'GRACE PLAZA REDEVELOPMENT PLAN AREA . . . ....... .. . • . -1/4 ..- ... • .:.z.,tik...,,,,,,-, ..:N,.-. .------ - - . . • %:-..; •-,1,...----, ." .- . . • • _ • -, -;.-.,-. ...,:----‘ t.-1,,.---7-_----,.. . ...... .. •,, . ..., 44 '•-... ,. '. . ' .. 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M 4 7 • _ CASE: C3-97-236 APPLICANT: Planning Department REQUEST: Approval of Twentieth Place Redevelopment Plan LOCATION: South of 20th and Grace Street SUBJECT AREA IS OUTLINED - OCTOBER 1997 • J =2.1GRANT ST L /4 .rinto -7' R7r-7 ST Gi/ N ---- — R4 LVwtwJN N��BUROETTE ST a - R5 1 R4 !GC 3UROETTE �I GI Conestoga cc 114 �� �i RT AvE - [1;1'GI GI - N N R4 In RT YAT=S r 1 A R4 s T �- - - R41 GI G ] �n R4 R4 G! GI., RT 1 J GRACE �__ ST S MI1 R4 T 1 ST GC DARKER51 N K% GI 1 --.r pf 1 LOOM - R4 R4 1M R4 RT RT 1 JN 1 wRT R7 lt�\ j13, V --- i S Ia N ��R� rGl � GI� 1 1 15 _ i 1 CLaRK H. N RT7 - ST GI 1 I 1 1 4.-- 1 (RT GI r1 ST aRT -- ' RR 1 pp i _ _ N I -__ HI 1 1111111 GC 1 RT U' I 1 SEWARo ST r.1 Rif GC Lci-; GI Mil I Rl' c-- 1 RR 1 MENI CHAR R7L ... RT ES ST �1 1 CHARLES ST ~-- �RP3 R8 GC 1 1 /. I 1 G 1 _ Tr RT -- 1 I I N ST N I I Gr: I LEM. I ?AUL ST I ?AUL 1 —Ds ST R8 — I RR I FINN � R81 1 s T RT ^ RT . GI o m ^ GI 10I i _ N y e� ei 4-4 �1 1 RT I GI 1 1-- I aNA ` �L 1 DS -- -. 1 1 "= 00' (APPROX .)` SCALE: 1 5 (A ) 0 1411 PIANNING•ONAM4 /' 1' V S • • GRACE PLAZA REDEVELOPMENT PLAN TWENTIETH PLACE APARTMENTS AMENDMENT ONE Introduction • This is an Amendment to the Grace Plaza Redevelopment Plan that was approved by the Planning Board on February 3, 1993 and by the City Council on April 20, 1993 by Resolution Number 925. The Grace Plaza Redevelopment Area boundaries are Grace Street on the north, Clark Street on the South, 16th Street on the east and the alley west of 20th Street on the west. The redevelopment area was declared substandard and blighted by the City Council on June 2, 1992. The Amendment is to incorporate the use of Tax Increment Financing as an authorized financing mechanism on a project-by-project basis within the Grace Plaza Redevelopment Area and to implement the Twentieth Place Apartments Redevelopment Project. Project Description The development consists of 18 townhomes in four buildings consisting of 10 two-bedroom and 8 three-bedroom apartments. The tenant pays all utility costs while the owner provides for maintenance, repair, snow removal and yard care. The building will be constructed with emphasis on low energy use, including low e-glass, high efficiency insulation and ceiling fans. Each unit will have a garage which includes a storage room and they will have a patio in the rear. The apartments will be equipped with security devices and exterior lighting for security. The individual driveways are designed and paired to reduce the number of curb cuts in the development. Eighteen rowhouses are proposed in four buildings, consisting of 4, 4, 4 and 6 dwelling units in each. The location is in the Grace Plaza Redevelopment Area in which Anathoth Place, Grace Plaza, Clark Place and Greenview Apartment projects have been constructed totaling, including Twentieth Place, 122 dwelling units. All completed units are occupied. The project will meet all the criteria of the Fair Housing Act, including facilities for disabled tenants. • Site specific improvements required on this project include: • Remove rubble buried on site and replace with clean fill and compact • Remove and replace existing curbs • Remove and replace existing public sidewalks • Consolidate sewer connections • Construct storm shelter to serve the area • Install public telephone booth • Install landscaping,front, sides and rear General data: Legal Description: Lot 1, First Addition Twentieth Place. Lot 1, Second Addition Twentieth Place, City of Omaha. • • Project Financing SOURCES USES Equity $1,241,037 Construction contingency $ 72,500 First mortgage $ 340,000 Support cost $ 239,761 Second mortgage (City) $ 250,000 Construction $1,494,000 Sponsor note $ 21,000 Professional services $ 147,876 General partner capital $ 100 Interest expense $ 8,000 Tax Increment Financing $ 110,000 TOTAL $1,962,137 TOTAL $1,962,137 The proposed 1'Ir financing will be repaid in 12.5 years from the increase in taxes from the completion of the project. Without incorporation of the proposed TIF proceeds, this project cannot possibly proceed. Substantial increases in construction costs, coupled with requirements by the City of Omaha place the total project costs well outside the parameters of available funding, without the TIF proceeds. This project will be financed under the terms of Section 42 of the Internal Revenue Code, which imposes rental rate restrictions and income level restrictions for the tenants. Section 42 is administered by the Nebraska Investment Finance Authority which establishes the maximum rentals for the next thirty years. The limited operating income precludes increasing the debt on the project for the purpose of covering escalating costs and the public improvements. Use of TIF funds will enable eighteen more families to live in safe, clean and affordable apartments in the Grace Plaza Redevelopment area of northeast Omaha. Land Use/Zoning The project site is correctly zoned to facilitate the development, and the proposed use conforms with the Land Use and Master Plans. Utilities All required utility services are available to accommodate the development. Minor enhancements to sanitary and storm sewer connections will be made. Gas, water and sewer systems adequately service the area. Transportation • The site is serviced by good access in and around the redevelopment area. Conclusion The Twentieth Place Apartment Project continues the development of new housing for low- to moderate-income persons. The project is a continuation of the housing development in the general area and meets the requirement of the City of Omaha Ordinances and the Conditions contained in Nebraska Community Development Law. f/word_1/kjohnson/reports/20plac.doc , . ,fit Cifc y I'L7 U1 ..� ' Z I VP,11(1111� i z v y I "'O. :ice I I aci, t3 — ... I C:3 CI • a s �nc ��3 am . 'c. I I Hmm � .,. ›C - - �.. �; 8 E i I lilii, • 1 a mr = o rz1I 1:: : ir = i,punul 0 III ® = El= ' II 11 n 1..:, 4 0 [z mull—., QC = Cil III�,IIIIUn D I► C) ',: ' } m III I I a IPIIIIIIinj T .. 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D ■111 OOZE. ■■11 I,o' , I'll umUI" ' • —qcql 1mi ..,71A11® lEitill um C) W I ililf0 i �` • * 0 GRACE PLAZA REDEVELOPMENT PLAN AREA NEW PUBLIC TELEPHONE NEW SIDEWALKS AND • CURBS THROUGHOUT - —BRACE- STREET - - I - - - - - - - • I � , r N. lid-'-----b' •illgiai.vit*:',;/ i:i;5: 11flM1A1A • I.11:1111.1r _ ;.; ;; ;;:....: ;; :;:fir . ii-6 • *3 .• 1 •.: •::':�:' / 1 c.:.:..•�-..•.:1 1 I 1' STORM :' '��,. 1i:i if'c. - SHELTER :i - iliiii:K:ZI1._ . 11( Efo Cil ,i:Ki:KiEK:iiiig II • :�t:''••�•I�'�'•:••1 1'1 is i i•'+�.R'�••.�v9' �.okelii >A;:?ialie••• • i *IVO `:✓.� — TWENTIETH PLACE TOWNHOMES 20TH AND .GRACE STREET EXHIBIT (I)OMAHA, NEBRASKA 68110 EXH "o NEW COMMUNITY DEVELOPMENT CORPORATION SAVAGE PALANDRI ARCHITECTS • . . GRACE PLAZA REDEVELOPMENT PLAN AREA -- U I BEDROOM \ 1 BEDR C 0 , u Si 1 1 KITCHEN n-0 _- -1 I- j r'4 l- Q _ L.1 ---UTIL ti TERRACE � O ilk ORAGE LIVING RM/DINING GARAGE Hr-- 1 __ • .. TWO BEDROOM UNIT TWENTIETH PLACE TOWNHOMES 20TH AND GRACE STREET EXHIBIT OMAHA, NEBRASKA 68110 G . 2 NEW COMMUNITY DEVELOPMENT CORPORATION SAVAGE PALANDRI ARCHITECTS 614ACE PLAZA REDEVELOPMENT PLAN- AREA t1 - BEDROOM • TERRACE I BEDROOM C I wg L ii 111 joo— r- - I KITCHEN _/.)____ _ - it. mmonimmi C ail" BATH i= 11 • • ' III El min Nion • ° . ° IC t ----RAN I LMNG RM/DINING ® L =00 - STORAGE i KV GARAGE BEDROOM • 1 I ! - I PORCH - - . .rml LOWER UPPER THREE BEDROOM UNIT TWENTIETH PLACE TOWNHOMES 20TH AND GRACE STREET EXHIBIT OMAHA, NEBRASKA 68110 G . 3 NEW COMMUNITY DEVELOPMENT CORPORATION SAVAGE PALANDRI ARC1irTCTS OMAHA DAILY RECORD PLEASE PUBLISH -1-NOTICE TO PUBLIC November 27. 1997 & December 4, 1997 "NOTICE TO PUBLIC" NOTICE OF PUBLIC HEARING ON THE AMENDMENT TO THE GRACE PLAZA REDEVELOPMENT PLAN Notice is hereby given that the Omaha City Council has set Tuesday, December 16, 1997, at 2:00 o'clock P.M. as the date of Public Hearing on the Amendment to the Grace Plaza Redevelopment Plan. The Grace Plaza Redevelopment Plan area is approximately 20.8 acres and is located between Grace Street on the north, Clark Street on the south, 16th Street on the east and 20th Street on the west, which is legally described as Lot 1, First Addition Twentieth Place, Lot 1, Second Addition Twentieth Place, City of Omaha. This area is within a portion of the City that was declared blighted and substandard by the City Council. The Amended Plan provides the mechanism for the City of Omaha to participate in the development of the Twentieth Place Apartments,which is the development of 18 townhomes in four buildings. The Amendment to the Grace Plaza Redevelopment Plan provides for the use of Tax Increment Financing, which will be repaid in 12.5 years from the increase in taxes generated from the completion of the project. 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, Legislative Chambers, Omaha/Douglas Civic Center,and 1819 Famam Street, Omaha,Nebraska. Buster Brown Acting 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 ELAINE M. SHEETS - 444-5553, IF ARRANGEMENTS NEED TO BE MADE 5 OMAHA DAILY RECORD AMENDMENT TO THE GRACE PLAZA REDEVELOPMENT PLAN NOVEMBER 27, 1997 DECEMBER 4, 1997 ALL REQUESTS FO1t SIGN LAN- . ALL REQUESTS FOR SIGN LAN- GUAGE INTERPRETERS (SIGNERS) GUAGE INTERPRETERS (SIGNERS) WILL REQUIRE A MINIMUM OF 48 WILL REQUIRE A MINIMUM OF 48 HOURS ADVANCE NOTICE. HOURS ADVANCE NOTICE. IF ALTERNATIVE FORMATS ARE IF ALTERNATIVE FORMATS ARE NEEDED, ALL REQUESTS WILL RE- NEEDED, ALL REQUESTS WILL RE- QUIRE A MINIMUM OF 72 HOURS QUIRE A MINIMUM OF 72 HOURS ADVANCE NOTICE. ADVANCE NOTICE. PLEASE NOTIFY BUSTER BROCNN PLEASE NOTIFY BUSTER BROWN - CITY CLERK - 444-5557, IF - CITY CLERK - 444-5557, IF ARRANGEMENTS NEED TO BE ' ARRANGEMENTS NEED TO BE MADE. ' MADE. i "NOTICE TO PUBLIC" "NOTICE TO PUBLIC" NOTICE OF PUBLIC HEARING ON NOTICE OF PUBLIC HEARING ON THE AMENDMENT TO THE GRACE THE AMENDMENT TO THE GRACE PLAZA REDEVELOPMENT PLAN PLAZA REDEVELOPMENT PLAN Notice is hereby given that the Omaha Notice is hereby given that the Omaha City Council has set Tuesday, December , City Council has set Tuesday, December 16,1997,at 2:00 o'clock P.M. as the date of 16,1997,at 2:00 o'clock P.M. as the date of Public Hearing on the Amendment to the Public Hearing on the Amendment to the Grace Plaza Redevelopment Plan. I Grace Plaza Redevelopment Plan. The Grace Plaza Redevelopment Plan i The Grace Plaza Redevelopment Plan . area is approximately 20.8 acres and is area is approximately 20.8 acres and is located between Grace Street on the north, located between Grace Street on the north, Clark Street on the south, 16th Street on the Clark Street on the south, 16th Street on the east and 20th Street on the west,which is east and 20th Street on the west,which 's legally described as Lot 1, First addition I legally described as Lot 1, First addition Twentieth Place, Lot 1, Second Addition Twentieth Place, Lot 1, Second Addition Twentieth Place,City of Omaha. This area 's Twentieth Place,City of Omaha. This area is - within a portion of the City that was declared within a portion of the City that was declared blighted and substandard by the City Coun- blighted and substandard by the City Coun- cil.The Amended Plan provides the mecha- cil.The Amended Plan provides the mecha- nism for the City of Omaha to participate in nism for the City of Omaha to'participate in" the development of the Twentieth Place the development of the Twentieth .Place,,,,, Apartments, which is the development of 18 Apartments which is the development of 18 townhomes in four buildings. j townhomes in four buildings. The Amendment to the Grace Plaza The Amendment to the Grace Plaza Redevelopment Plan provides for the use of -Redevelopment Plan provides for the use of Tax Increment Financing, which will be Tax Increment Financing, which will be repaid in 12.5 years from the increase in repaid in 12.5 years from the increase in taxes generated from the completion of the taxes:generated from the completion of the project.A copy of said plan is available for project.A copy of said plan is available for public inspection in the City Clerk's Office. public inspection in the City Clerk's Office. Public Hearing will be held before the City Public Hearing will be held before the City Council of the City of Omaha, Legislative Council of the City of Omaha, Legislative Chambers, Omaha/Douglas Civic Center, ' Chambers, Omaha/Douglas Civic Center, 1 1819 Farnam Street,Omaha, Nebraska. I 1819 Farnam Street,Omaha, Nebraska. BUSTER BROWN, BUSTER BROWN, Acting City Clerk Acting City Clerk ALL REQUESTS FOR SIGN LANGUAGE ALL REQUESTS FOR SIGN LANGUAGE INTERPRETERS(SIGNERS)WILL REQUIRE A INTERPRETERS(SIGNERS)WILL REQUIRE A MINIMUM OF 48 HOURS ADVANCE NOTICE. MINIMUM OF 48 HOURS ADVANCE NOTICE. IF ALTERNATIVE FORMATS ARE IF ALTERNATIVE FORMATS ARE NEEDED, ALL REQUESTS WILL REQUIRE A NEEDED, ALL REQUESTS WILL REQUIRE A I, MINIMUM OF 72 HOURS ADVANCE NOTICE. , MINIMUM OF 72 HOURS ADVANCE NOTICE. PLEASE NOTIFY ELAINE M. SH-EETS - - PLEASE NOTIFY ELAINE M. SHEETS - . 444.5553,IF ARRANGEMENTS NEED TO BE 444-5553,IF ARRANGEMENTS NEED TO BE MADE. MADE. h 11-27&12-4.97 h 11-27&12-4.97 I • OMAHA WORLD HERALD PLEASE PUBLISH-1-NOTICE TO PUBLIC BOTH MORNING& EVENING EDITIONS November 27, 1997 & December 4, 1997 P.O. # 27721 "NOTICE TO PUBLIC" NOTICE OF PUBLIC HEARING ON THE AMENDMENT TO THE GRACE PLAZA REDEVELOPMENT PLAN Notice is hereby given that the Omaha City Council has set Tuesday, December 16, 1997, at 2:00 o'clock P.M. as the date of Public Hearing on the Amendment to the Grace Plaza Redevelopment Plan. The Grace Plaza Redevelopment Plan area is approximately 20.8 acres and is located between Grace Street on the north, Clark Street on the south, 16th Street on the east and 20th Street on the west, which is legally described as Lot 1,First Addition Twentieth Place, Lot 1, Second Addition Twentieth Place, City of Omaha. This area is within a portion of the City that was declared blighted and substandard by the City Council. The Amended Plan provides the mechanism for the City of Omaha to participate in the development of the Twentieth Place Apartments, which is the development of 18 townhomes in four buildings. The Amendment to the Grace Plaza Redevelopment Plan provides for the use of Tax Increment Financing, which will be repaid in 12.5 years from the increase in taxes generated from the completion of the project. 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, Legislative Chambers, Omaha/Douglas Civic Center, and 1819 Farnam Street, Omaha,Nebraska. Buster Brown 1 Acting 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 ELAINE M. SHEETS -444-5553, IF. ARRANGEMENTS NEED TO BE MADE , • OMAHA WORLD HERALD AMENDMENT TO THE GRACE PLAZA REDEVELOPMENT PLAN NOVEMBER 27, 1997 DECEMBER 4, 1997" " OMAHA WORLD-HE OMAHA WORLD-HERALD Thursday,December 4. 1997 RALD Thursday,November 27. 1997 } _ - "—''NOTICE—TO PUBLIC" "NOTICE TO PUBLIC" T C NOTICE OF PUBLIC NOTICE OF PUBLIC "NOTICE OF PUBLIC" AMENDMENT ON THE AMENDMENT ON O THE AMENDMENT HEARINGON TO THE • REDEVELOPMENT PLAN REDEVELOPMENT PLAN GRAC P REDEVELOLAZA PLAN Notice Is hereby given Notice is hereby given that the Omaha City Council that the Omaha City Council Notice is hereby given has set Tuesday, December has set Tuesday, December that the Omaha City Council 16, 1997,at 2:00 o'clock P.M. 16, 1997,at 2:00 o'clock P.M. has set Tuesday, December as the date of Public Hear- as the date of Public Hear- as 1997,at 2:00 o'clock ear- ing on the Amendment to Ingo on the Amendment to as the date of Public H16ear- the Grace Plaza Redevelop- the Grace Plaza Redevelop- ing on the Amendment to ment Plan. ment Plan. Grace Plaza Redeveiop- ^te^t Plan. The Grace Plaza Redevel- The Grace Plaza Redevel opment Plan area Is approx- opment Plan area is approx- imately 20.8 acres and Is io- imately 20.8 acres and is lo- o otelyment P20.8lan area is isloapprox toted between Grace Street cated between Grace Street cated between acres and is io- on the north Clark Street on' on the north Clark Street on qqn� Grace Street ,the south, 16th Street on the the south, 16th Street on the the ssoouth, 16thlStreet onithe west,east hlnd 20thistlegally de-reet on west,east awhind chhistle9gally de- east and 20th Street on the scribed as Lot 1 First Addi• Addi- tion Twentieth lace, Lot 1, scribed as Lot 1 First Addl west, which Is legally de P lion Twentieth Mace, Lot 1, scribed as Lot 1 FFdrest Addl- Second Adddition Twentieth Second Adddition Twentieth P of lace, TwenVtieth area Place,1, City Omaha. Thisn of area PlaceifsyCwithln Omaha. This the�City thatnwasdedecl portion of This blighted Ctthe CityvndC substt was andard bhiehteCitondy substandard t was declared blighted and substandard by Amended Plan provides the Amended Plan provides the the City Council. The mechanism for the City of mechanism for the City of i Amended Pion provides the Omaha to participate In the Omaha to participate In the echanism for the City of development of the Twen- development of the Twen- •maha to participate in the tieth Place Apartments, tieth Place Apartments, development of the which is the development of which is the development of tieth Place Apartments, 18 townhomes in four build- 18 townhomes In four build- ich is the development of 8 townhomes in four build- ings. The Amendment to the' The Amendment to the The Amendment to the Grace Plaza Redevelopment Grace Plaza Redevelopment Grace Plaza Redevelopment Plan provides for the use of Plan provides for the use of Plan provides for the use of Tax Increment Financing Tax Increment Financing Tax Increment Financing which will be repaid in 12.5` which will be repaid in 12.6 which will be repaid In 12.6 ears from the increase In years from the Increase In Years from the increase In taxes generated from the taxes generated from the thetaxes generated from the COPYplon oflsaidf planpislacvaill-At. co y oflsaidfpthe lan isiacvaill-- 'completion of the protect.A able for public inspection in able for public Inspection in COPY of said plan is avail- the City Clerk's Office. the City Clerk's Office. able for public Inspection In I the City Clerk's Office. 1 Public Hearing will be Public Hearing will be Public Hearing will held before the City Council held before the City Council field before the City Council) of the City of Omaha, Legis- of the City of Omaha, Legis- of the City of Omaha, Legis lative Chambers, Omaha/ lative Chambers, Omaha/ Wive Chambers, Omaha/ Douglas Civic Center, 1819 Douglas Civic Center, 1819 Douglas Civic Center, 1819 Farnam Street, Omaha, Ne- Farnam Street, Omaha, Ne- Farnam Street,Omaha, Ne- braska, braska. braska. Buster Brown Buster Brown Buster Brown Acting City Clerk Acting City Clerk Acting City Clerk ALL REQUESTS FOR SIGN ALL REQUESTS FOR SIGN A L REQUESTS FOR SIGN j LANGUAGE INTERPRET- LANGUAGE INTERPRET •NGUAGE INTERPRET- pERS (SIGNERS) WILL RE- ERS (SIGNERS) WILL RE- ppU RESIGNN/y�OM UM/�_ R4 TICE. TAA ADVAMCEONO QUIRE RSAADVANCEONO HOURSA ADV NCE OFNOO- IF ALTERNATIVE FOR- IF ALTERNATIVE FOR- ITTI•EEF RE- _ALTERNATIVES D,ALL QQMATpS ARE NEEDED,ALL ppMATRS ARE NEEDED,ALL QUIp ESTS WILL R HOURS MINIMUMUESTS OF --TOIERS REQUESTS DIVA WILL 72 UOIRE A A/iNIMUM OF 2 VAN E N'I L AHSE OTIFV IN M.SHEETMMS - 444-ESLSAIN M ESHSEETOTIF SSL52g1NE Mr ANGE EEN�f`E TO ARRANGEMENTS NE`E A j BE MADEENTS NEED t -c 25A # '* CITY OF OMAHA LEGISLATIVE CHAMBER Omaha,Nebr November 25 19 97 RESOLVED BY THE CITY COUNCIL OF THE CITY OF OMAHA: • • WHEREAS, the primary objectives of the City of Omaha's Master Plan and Community Development Program are to encourage additional private investment and infill development within inner-city neighborhoods; and to eliminate conditions which are detrimental to public health, safety and welfare, by developing vacant, underutilized property within these neighborhoods; and, WHEREAS, the approximately 20.8 acre Grace Plaza Redevelopment Plan Area located between Grace Street on the north, Clark Street on the south, 16th Street on the east and 20th Street on the west(see Attachment 1 for complete legal description); and, WHEREAS, this Redevelopment Plan area was previously declared "blighted and substandard and in need of redevelopment"by the City Council on June 2, 1992 ; and, WHEREAS,Grace Plaza Redevelopment Plan Twentieth Place Apartments Project proposes to renovate the site through the construction of 18 townhomes which are targeted for low to moderate income family occupancy as described in Exhibit "A",attached hereto and made a part hereof; and, WHEREAS, the Grace Plaza. Redevelopment Plan Twentieth Place Apartments Project provides for the use of Tax Increment Financing to fund the cost of public improvements, acquisition,demolition and site preparation; and, WHEREAS,an Industrial Development Bond issue may be used in this blighted and substandard area to assist with project financing; and, WHEREAS, Section 18-2108 of the Nebraska Revised Statues 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 Grace Plaza Redevelopment Plan Twentieth Place Apartments Project was approved by the City of Omaha Planning Board on October 1, 1997. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF OMAHA: By Councilmember Adopted City Clerk q Approved � `•- Mayor Yc zSA CITY OF OMAHA LEGISLATIVE CHAMBER Omaha,Nebr November 2.5 19 97 THAT, the attached Grace Plaza Redevelopment Plan Twentieth Place Apartments Project, 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 Grace Plaza Redevelopment Plan Twentieth Place Apartments Project Redevelopment Area located at 20th and Grace Streets. APPROVED AS TO FORM: • . ASASSIST CIT ATT Y DATE P:\PLN2\6942.SKZ By — � -Coun i member Adopted DEC ..1997oior 6 ii Approved.. ./ Mayor0 Zi • r co 0 w 'ci c a. E p. f • & cr ) tD "� N a' n o rC t Z `� . s Q , id ram.a o. ti O �, - .Z3 . \ ° '� a �- H ti k ., tilit,,,,, • . , ,, ..;.... :, ......: C) . V g. ,-i,`c<r (1;1' 19 R. 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