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RES 2013-0581 Aksarben Village Zone 8 Gordmans TIF PlanCity of Omaha Jim Suttle, Mayor l 0 11 ,_.,~ ' • ,.J C\T'! r, t. , ... Planning Department Omaha/Dougla,; Civic Center 1819 I 'arnam Street, Suite 1100 Omaha, Nebra,;ka 68183 (402) 444-5150 Telefax (402) 444-6140 R. E. Cunningham, RA, F.SAME Director April 30, 2013 Honorable President and Members of the City Council, The attachP.d Resolution transmits the Aksarben Village Zone 8 -Gordmans Tax Increment Financing (T !F) Redevelopment Project Plan. This project proposes to construct a new, mixed-use building with approximately 117,000 gross square foot -36,000 rentable square feet of retail space and 70,500 rentable square feet of Class A commercial office space located at 1904 South 671h Street. Gordmans is an Omaha based apparel and home fashions retailer operating 83 stores with over 3.5 million square feet in 18 states, and employing more than 4,000 associates. Gordmans will relocate its national headquarters to a vacant site within the developing Aksarben Village neighborhood, fulfilling a long-held community vision to use and re-purpose vacant urban land. In addition, this project will accommodate up to 284 FTEs, of which 54 are new FTEs. The Redevelopment Project Plan recommends the City's participation in the redevelopment of this project site through the allocation of TIF in an amount up to $3,587,000.00 to offset costs such as acquisition, site work, engineering fees and surveys, utilities and any public improvements. In addition, $1,215,000.00 in TIF proceeds will be contributed by the developer to the Aksarben Village Infrastructure Escrow Account to pay the projects pro rata share of the overall public infrastructure costs for the Village area. The total estimated project cost is $29,496, 135.00, but is subject to change as final costs come in. Your favorable consideration of this Resolution will be appreciated. Respectfully submitted, Approved: au-~ Allen Herink ~-~ Acting Finance Director Y~ '-/-f /~/.? Date [~~ Public Works Director '-/-f(} ~13 Date 1840 dlh Notice of Publication: May 2, 2013 and May 9, 2013 Public Hearing: May 21, 2013 IV. Alta Survey & Legal Description of Project Site ~~ ~ ~ ~ ~ $$ ~~ $$ .. "1" .,.--5 I-w <( ~2 _J ~] CL ~~ ~..,.;. w N•g ~" a: c. Oo ~g. c: " w u U) "' 0 /;; ~ 0 ~ w ~~ ..J.~ () ~] %~ <( ~-g 00 _J g-] ]% _J f-g > ~~ ~ii: wo z 5 a· ~~ w ~.g "'" (D ~; a: ..-;~ ~~ <( ~ Cf) ~ <( 1m~I #!-""'~ "00;e z ~~w~ ~ c: ~~s,~J~ ~,~"" ~ "'"'""" u w w " "' 0 " "' "' "' z " 0 -r z £ lVld]~ ]:)VlllA N38WS>rV \l)IS\1~83N 'AJ.NnOJ SV1~noo '\IH'o'f'IO (l puo L s101) v L lV1d3~ 3~V111A N38~\IS~'o' il~ "·' .iU ~ f! £ ;:~ gEl :1 rn § "•' ~;g ;:: ll..: !~ t ~! ,. ~!i! 3 ' l ,, ~i:~ ~ l~ H hh g M ·11: ~ " ~ ' ~ ~ !,. :l w' ~~ ~~ u ,LS.LG>; 3.0~.>;o.cos ! 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' ~· :i ~ ~ ~ ~ g I !H ~ ' ' •' • a f;; ~ 8 ~ ~ O'j •O~~. ·~.-·~ j j ••••ffi ;;;:. ~ mnu1 H n q ! ~~~:~~~" ~~~2 ~; i~~i ~:~! z I : i •. . ~ ~ ~. !'§~H 1 "i ~l " ;;:~ ~N ' §~ ~ TOPOGRAPHIC AND BOUNDARY SURVEY ~~.AM~ ~r~N0R7sg~ 14710 West Dodge Road, Suite 100 402.496.24981 P Omaha, Nebraska 68154-2027 402.496.2730 IF vmw.LRA-lnc,corn AKSARBEN VILLAGE REPLAT 5, Lot 1 OMAHA, DOUGLAS COUNTY, NEBRASKA I .:'. i ;. '\ -. ~ r !!! ,,..., . ~ li + ~ d~ ' om »!l! "~~m ~! __, "' 6' Wro.f~~i'Won '""'"' ~<'q .... :3: iE n:} J I ~ '" : ;t U. I .~:· n ,i f!,",...," ~.·~} ',I\ r·· ' ; ...... ~ jf ' ·r • ! ··:2 I ..... ri.~:: !) ::::Ji:-" EXHIBIT "B" AKSARBEN VILLAGE ZONE 8 -GORDMANS TIF REDEVELOPMENT PROJECT PLAN 1904 S 67TH STREET MAY 2013 Jim Suttle, Mayor City of Omaha R. E. Cunningham, RA, F. SAME Director, Planning Department Omaha/Douglas Civic Center 1819 Farnam Street, Ste. 1111 Omaha, Nebraska 68183 CASE: C3-13-083 APPLICANT: Planning Department on behalf of the City of Omaha REQUEST: Approval of the AKSARBEN VILLAGE ZONE 8 -GORDMANS TIF REDEVELOPMENT PROJECT PLAN LOCATION: 1904 South 67th Street SUBJECT AREA IS SHADED -APRIL 2013 M MU I I I MU-FF I • ' ~ ' ~... ~ ........ _., 0 MU MU (/) MU-FF 1, 100 Feet 7 N A TO: FROM: DATE: SUBJECT: INTER-OFFICE COMMUNICATION City of Omaha, Nebraska Planning Department Chairman and Members of the Planning Board R. E. Cunningham, RA, F. SAME Planning Director March 27, 2013 AKSARBEN VILLAGE ZONE 8 -GORDMANS TIF REDEVELOPMENT PROJECT PLAN 1904 South 67 1h Street Case #C3-13-083 This TIF project represents is a newly constructed, mixed-use building with approximately 117,000 gross square feet, including approximately 36,000 rentable square feet for specialty retail or other office uses and 70,500 rentable square feet of Class A commercial office space to be occupied by Gordmans. This Aksarben Village Zone 8 project will be anchored by Gordmans as their new corporate headquarters location. Tenant parking will be provided by 256 stalls located in an adjacent parking garage and an additional 129 parking stalls located within adjacent surface parking lots or on-street locations. Gordmans is an Omaha based apparel and home fashions retailer operating 83 stores in over 3.5 million square feet in 18 states, and employing more than 4,000 associates. Gordmans will relocate its national headquarters to an existing vacant site within the developing Aksarben Village neighborhood, fulfilling a long-held community vision to use and re-purpose vacant urban land. Gordmans growth has pushed it to capacity within its existing facilities. To accommodate this growth, Gordmans is prepared to construct a fully functional specialty facility designed to meet their immediate needs and allow for future expansion. This project is designed to accommodate up to 284 FTEs, of which 54 are new FTEs, providing ample flexibility for several years to come. The project site is zoned MU and MU-FF-Mixed Use District (portions of which property are located within the flood fringe); no zoning changes are required. Public infrastructure improvements will include on-street parking, new sidewalks, ornamental paving, integrated planters, landscaping and pedestrian lighting along South 67 1h and Frances Streets. The surrounding site work will include surface parking, roads, landscaping and pedestrian plazas. The project is scheduled to be completed by March 1, 2014. No Building Permit will be issued based on a site plan that does not comply with the provisions of the Zoning Ordinance. TIF Request: A TIF request of $3,587,000.00 will be used to offset acquisition, site work, engineering and surveys, utilities and any public improvements. The total estimated project cost is $29,496,135.00. In addition, $1,215,000 of the $3,587,000 in TIF proceeds will be contributed by the developer to the Aksarben Village Infrastructure Escrow Account to pay the projects pro rata share of the overall public facilities costs for the Village. This project will be required to comply with all Planning Department and Planning Board recommendations. BH Interoffice Communication Case #C3-13-083 Page 2 The project site and area meet the requirements of Nebraska Community Development Law and qualify for the submission of an application for the utilization of Tax Increment Financing to cover cost associated with project development as submitted for approval through the Tax Increment Financing process. The project is in compliance with the Master Plan, appropriate Ordinances and development regulations of the City. DEPARTMENT RECOMMENDATION: Approval. ATTACHMENTS Plan BH Date: To: From: Applicant: Project Name: Location: Project: INTER-OFFICE COMMUNICATION March 18, 2013 TIF Committee: Rick Cunningham, Cassie Seagren, Scott Winkler, AL Herink, Paul Kratz, Robert Stubbe, Todd Pfitzer, Gail Braun, Aida Amoura -Rezac Bridget A. Hadley -City Planning Waitt Aksarben 8, LLC Aksarben Village Zone 8 -Gordmans TIF Redevelopment Project Plan 1904 S 6?1h Street This TIF project represents is a newly constructed, mixed-use building with approximately 117,000 gross square feet, including approximately 36,000 rentable square feet for specialty retail or other office uses and 70,500 rentable square feet of Class A commercial office space to be occupied by Gordmans. This Aksarben Village Zone 8 project will be anchored by Gordmans as their new corporate headquarters location. Tenant parking will be provided by 256 stalls located in an adjacent parking garage and an additional 129 parking stalls located within adjacent surface parking lots or on-street locations. Gordmans is an Omaha based apparel and home fashions retailer operating 83 stores in over 3.5 million square feet in 18 states, and employing more than 4,000 associates. Gordmans will relocate its national headquarters to an existing vacant site within the developing Aksarben Village neighborhood, fulfilling a long-held community vision to use and re-purpose vacant urban land. Gordmans growth has pushed it to capacity within its existing facilities. To accommodate this growth, Gordmans is prepared to construct a fully functional specialty facility designed to meet their immediate needs and allow for future expansion. This project is designed to accommodate up to 284 FTEs, of which 54 are new FTEs, providing ample flexibility for several years to come. The project site is zoned MU and MU-FF-Mixed Use District (portions of which property are located within the flood fringe); no zoning changes are required. Public infrastructure improvements will include on-street parking, new sidewalks, ornamental paving, integrated planters, landscaping and pedestrian lighting along South 6?1h and Frances Streets. The surrounding site work will include surface parking, roads, landscaping and pedestrian plazas. The project is scheduled to be completed by March 1, 2014. TIF will be used to offset costs such as offset acquisition, site work, engineering and surveys, utilities and any public improvements. The project is contributing $1,215,000.00 toward off-site infrastructure costs. The total estimated project costs are $29,496,135.00. TIF Eligible Costs are as follows: Acquisition Off-site infrastructure Site Prep, soil stabilization Site Improvements Site Mechanical Utilities Site Electrical Subtotal Special Foundations Total TIF Eligible $1,556,109.00 $1,215,000.00 $ 347,161.00 $ 355,624.00 $ 114,028.00 $ 33,095.00 $3,621,017.00 $ 890,423.00 $4,511,440.00 The project site and area meet the requirements of Nebraska Community Development Law and qualify for the submission of an application for the utilization of Tax Increment Financing to cover cost associated with project development as submitted for approval through the Tax Increment Financing process. The project is in compliance with the Master Plan, appropriate Ordinances and development regulations of the City. Request: The TIF request is $3,587,000.00; up to $3,834,611.00 inclusive of capitalized interest; bank interest rate of 4.50%. Using the current levy rate of 2.17448% supports the TIF amount inclusive of capitalized costs. See attached TIF calculation spreadsheet. TIF Fee Schedule: $500.00 application fee and the processing fee of $3,000.00 were paid; administrative fees of $38,370.00. Total fees will be $41,870.00. Recommendation: Approval ATTACHMENTS TIF Application TIF Calculation Spreadsheet Applicant: Aksarben Village Zone 8 Gordmans PROFORMA Debt Service Payments Total Less Pre-TIF Treasurer's Revenues ------------------------------------------------Taxable Development Taxable Tax Tax 1% Collection Available Interest at Loan Capitalized Interest at DATE Valuation Base Valuation Levy Revenues Fee ForTIF Loan Principal 4.50% Total Balance Interest 4.50% ---------------------------------------------------------------------0 $3,587,000 0.5 $ 0 $ 2.17448 $ $ $ $0 $0 $0 $3,667,708 80708 80708 1 $ 0 $ 2.17448 $ $ $ $0 $0 $0 $3,750,231 82523 82523 1.5 $ 0 $ 2.17448 $ $ $ $0 $0 $0 $3,834,611 84380 84380 2 $ 12,857,143 0 $ 12,857,143 2.17448 $ 139,788 $ 1,398 $ 138,390 $52,111 $86,279 $138,390 $3,782,500 0 86279 2.5 $ 18,000,000 0 $ 18,000,000 2.17448 $ 195,703 $ 1,957 $ 193,746 $108,640 $85,106 $193,746 $3,673,860 0 85106 3 $ 18,000,000 0 $ 18,000,000 2.17448 $ 195,703 $ 1,957 $ 193,746 $111,084 $82,662 $193,746 $3,562,776 0 82662 3.5 $ 18,000,000 0 $ 18,000,000 2.17448 $ 195,703 $ 1,957 $ 193,746 $113,584 $80,162 $193,746 $3,449,192 0 80162 4 $ 18,000,000 0 $ 18,000,000 2.17448 $ 195,703 $ 1,957 $ 193,746 $116,139 $77,607 $193,746 $3,333,053 0 77607 4.5 $ 18,000,000 0 $ 18,000,000 2.17448 $ 195,703 $ 1,957 $ 193,746 $118,752 $74,994 $193,746 $3,214,301 0 74994 5 $ 18,000,000 0 $ 18,000,000 2.17448 $ 195,703 $ 1,957 $ 193,746 $121,424 $72,322 $193,746 $3,092,877 0 72322 5.5 $ 18,000,000 0 $ 18,000,000 2.17448 $ 195,703 $ 1,957 $ 193,746 $124,156 $69,590 $193,746 $2,968,721 0 69590 6 $ 18,000,000 0 $ 18,000,000 2.17448 $ 195,703 $ 1,957 $ 193,746 $126,950 $66,796 $193,746 $2,841,771 0 66796 6.5 $ 18,000,000 ·O $ 18,000,000 2.17448 $ 195,703 $ 1,957 $ 193,746 $129,806 $63,940 $193,746 $2,711,965 0 63940 7 $ 18,000,000 0 $ 18,000,000 2.17448 $ 195,703 $ 1,957 $ 193,746 $132,727 $61,019 $193,746 $2,579,238 0 61019 7.5 $ 18,000,000 0 $ 18,000,000 2.17448 $ 195,703 $ 1,957 $ 193,746 $135,713 $58,033 $193,746 $2,443,525 0 58033 8 $ 18,000,000 0 $ 18,000,000 2.17448 $ 195,703 $ 1,957 $ 193,746 $138,767 $54,979 $193,746 $2,304,758 0 54979 8.5 $ 18,000,000 0 $ 18,000,000 2.17448 $ 195,703 $ 1,957 $ 193,746 $141,889 $51,857 $193,746 $2,162,869 0 51857 9 $ 18,000,000 0 $ 18,000,000 2.17448 $ 195,703 $ 1,957 $ 193,746 $145,081 $48,665 $193,746 $2,017,788 0 48665 9.5 $ 18,000,000 0 $ 18,000,000 2.17448 $ 195,703 $ 1,957 $ 193,746 $148,346 $45,400 $193,746 $1,869,442 0 45400 10 $ 18,000,000 0 $ 18,000,000 2.17448 $ 195,703 $ 1,957 $ 193,746 $151,684 $42,062 $193,746 $1,717,758 0 42062 10.S $ 18,000,000 0 $ 18,000,000 2.17448 $ 195,703 $ 1,957 $ 193,746 $155,096 $38,650 $193,746 $1,562,662 0 38650 11 $ 18,000,000 0 $ 18,000,000 2.17448 $ 195,703 $ 1,957 $ 193,746 $158,586 $35,160 $193,746 $1,404,076 0 35160 11.5 $ 18,000,000 0 $ 18,000,000 2.17448 $ 195,703 $ 1,957 $ 193,746 $162,154 $31,592 $193,746 $1,241,922 0 31592 12 $ 18,000,000 0 $ 18,000,000 2.17448 $ 195,703 $ 1,957 $ 193,746 $165,803 $27,943 $193,746 $1,076,119 0 27943 12.S $ 18,000,000 0 $ 18,000,000 2.17448 $ 195,703 $ 1,957 $ 193,746 $169,533 $24,213 $193,746 $906,586 0 24213 13 $ 18,000,000 0 $ 18,000,000 2.17448 $ 195,703 $ 1,957 $ 193,746 $173,348 $20,398 $193,746 $733,238 0 20398 13.5 $ 18,000,000 0 $ 18,000,000 2.17448 $ 195,703 $ 1,957 $ 193,746 $177,248 $16,498 $193,746 $555,990 0 16498 14 $ 18,000,000 0 $ 18,000,000 2.17448 $ 195,703 $ 1,957 $ 193,746 $181,236 $12,510 $193,746 $374,754 0 12510 14.5 $ 18,000,000 0 $ 18,000,000 2.17448 $ 195,703 $ 1,957 $ 193,746 $185,314 $8,432 $193,746 $189,440 0 8432 15 $ 18,000,000 0 $ 18,000 ,000 2.17448 $ 195,703 $ 1,957 $ 193,746 $189,484 $4,262 $193,746 $0 0 4262 --------======== :;;======= --------------------------------------=========== $5,228,066 $52,280 $5,175,786 $3,834,655 $1,341,131 $5,175,786 $247,611 =========== =========== =========== =========== =========== =========== =========== ASSUMPTIONS: ( F9 = calculate ) NOTE: This infonnation is provided to assist in analyzing the Original Loan Amount $3,587,000 specific request to the TIF committee. This lnfonnatlon is subject Capitalized Interest $247,611 1. Assume No Pre-Development Base to change based on actual tax assessments. This schedule assumes Loan Balance Remaining $0 2. Loan Amount: $3,587,000 a 90% real estate valuation and a 1.0 debt coverage ratio. The ----------3. Interest Rate: 4.50% actual TIF amount available to fund site specific project cost will $3,834,611 4. Project Hard Cos $18,000,000 change based on the cost of public improvements. =========== 5. Increment Base: $18,000,000 Est. Annual Incremental Taxes $ 391,406 February 25, 2013 Application for Tax Increment Financing Aksarben Village Zone 8 Gordmans Corporate Headquarters 1904 South 67th Street Omaha, Nebraska Submitted by: Waitt Aksarben 8, LLC 1125 South 103rd Street, Suite 425 Omaha, Nebraska 68124 Development Coordinator: Jay Noddle, President Noddle Companies 2285 South 67th Street, Suite 250 Omaha, Nebraska 68106 I. Project Summary Project Owner: Waitt Aksarben 8, LLC, 1125 South 103rd Street, Suite 425, Omaha, Nebraska 68124 Project Lessee: Gordman's, Inc., 12100 West Center Road, Omaha, Nebraska 68144; and yet to be identified retail or office tenants Project Address: 1904 South 67th Street, Omaha, NE 68106 Project Legal Description: Lot 1, Aksarben Village Replat 14, City of Omaha, as surveyed, platted and recorded in Douglas County, Nebraska Estimated Overall Project Cost: $29,496,135 TIF Loan Request: $3,587,000 ($3,834,611 including capitalized interest) Current Use: Vacant, undeveloped site formerly a part of the Aksarben Race Track Current Zoning: MU (Mixed Use) and MU- FF (Mixed Use -Flood Fringe) Proposed Use: The Aksarben Village Zone 8 development project encompasses 117,242 gross square feet within a single three-story building. The building will house the corporate headquarters of Gordmans (70,537 net square feet); a specialty retail/office component (36,453 net square feet); and 256 structured parking stalls. An additional 129 parking stalls will be located within adjacent surface parking lots or on-street locations. Current Annual Real Estate Taxes (2012 tax year): $ 14,405.42 Current Assessed Tax Valuation (2012 tax year): Land: $ Improvements: $ Total: $ 685,000 0 685,000 Douglas County Account Information Page 1ot2 j Douglas County, Nebraska Property Record -~050~~1118~---------------1 Information is valid as of 2013-2-4 Print Report View Interactive GIS Map Treasurer's Tax Report New Feature -li -li ~ Subdivision Sales Search Owner 1-----------------------------------------·-···-·-----·--------- WAITTCORP REAL ESTATE LLC 1125 S 103 ST #425 OMAHA NE 68124-0000 Property Information Key Number: 01511180 05 ~ r-·-----------------------··--·-·--------·-··----------. -----·-· -------·-·-·-------···-----·· ···--------------------------·-------· Account Type: I Commer~~~----·--------·-·----·--------·----······-······-----·---·---- Parcel Number: I 0501 ~1rno ____ . _____________________ --·---·--··---------- Parcel Address: 1 1904 S 67 ST i OMAHA NE 68106-0000 -1'---·---····-----·----··-·---·---·-·----···-----··---·-··---· -·---· -----. 1 Legal Descri~~~on: ~KSA~BEN VIL~~G=-~~~~-L02_1_B~O~~? 1~~~~--~~114 SQ FT ================~ I Value Infor~~~~~n --=====~-~~-~-=-====--~==~===~-- ! Land 1 Improvement ,_______ __ _______,,_ -------------·· . -·----··------_J ___ ----·. ·-·-----···-·-··----··-··---·--·--- 2012 i $685,000.00 i $0.00 I-----·--···············-·-··----<-···-·-···· ................... ···-·-··-· ·-· -.... -i.. . .... ··-····--······-·-................ ···--···-·····-.. . I Total -1 ' $685,000.00 i --------------- $685,000.00 i $0.00 >-------i----------------·---1----··------·-·---·-----····------····-······-·----· i $685,000.00 i 2011 $685' 000. 00 ~----·--------$0. 00 I $0.00 . $0.00 ! ··------·---· -·-----·-·---··---·---·-·---------·--·-- 2008 f---$0.00 r---------~o.o._o __ 2007 I $0.00 1 $0.00 ~---·__J_----·----------·· ·-------·· --···---··--·--···· -····--·-·-·--···---·--------··-·· i $685,000.00 i I $0.00 ' $0.00 i i $0.00 l 2010 2009 Show All Transactions Land Information ~ere~ 93 ~-·s~-~ 114_~---~j_u_:_;fs_~~---_-JDe_~-~:a-_~-.·~-]_w:th0·-~o-. ---+i __ v._a_c_a_nt_Y-es __ __, ·-···---···-··········-··-····-·--·-===-=::.==.'.=========~ Land Attributes --------~~~~~~=~=--~==~~::r~-~:~=:=-~-~--:_-=:-:-::-_-:::__ ~:~~~~~~-~~~i~i~~i~-~-==--------· ·-··------l Location 1 Good '----------·-------·-.J--···----·-----·------·-··------·······---·-··------------·-·---··-------------' httn :// dom! 1 asne. mannin!l-online. com/Dou12:lasCoN el static/accountinfo. i sp ?accountno= RO 5... 212212013 Douglas County · 1 reasurer -Keal Property l ax lnqmry Treasurer's Home Paqe Contact Us Search Paqe Douglas County Treasurer Nebraska Taxpayer Information . . 1125 S 103 ST #425 Ma1hng Address: OMAHA,NE 68124 Property Information Parcel Number: 0501511180 Key Number: 0151 1180 05 Property Address: 1904 SOUTH 67 STREET Legal Description: AKSARBEN VILLAGE REP 5* LOT 1 BLOCK 0 Tax Information for 2012 Taxable Value: $685,000.00 Assessor's Valuation Page Tax Levy: 2.17448 Levy Info Tax Amount: $14,405 .42 Make a Payment Payment History Tax Tax Payment Year Amount Date Principal ,lnterestAdvertising 2012 $14,405.42 01-23-2013 $7,202.71 $0.00 $0.00 2011 $14,403.30 07-02-2012 $7,201.65 $0.00 $0.00 03-15-2012 $7,201.65 $0.00 $0.00 2010 $14,379.88 07-19-2011 $7, 189.94 $0.00 $0.00 02-22-2011 $7, 189.94 $0.00 $0.00 :2009 $0.00 NONE $0.00 $0.00 $0.00 '.2008 $0.00 NONE $0.00 $0.00 $0.00 Total $7,202.71 $7,201.65 $7,201.65 $7,189.94 $7,189.94 $0.00 $0.00 http://webapps.dotcomm.org:8080/TreasTax/faces/pages/taxinfo.jsp?parc=0501511l80 rage i or i 2/19/2013 Douglas County NE GIS Map it _1·~ ~~~ ~~~t~~::.~J\1 L - - -._ --· --- -J L -:1: ---__ I\:_ I • _ J I -1\r -----. l \r · j\ , I -=-=.~' ~---1' .. I [-c---I\' r----'= =· ~ t \~ . ~ L ___ -j L--=--~\~ -1=·~-~--'.\: \_ _ _. ~ [-- - --~1:[~_ ~ _--_-------' l_ -:•13: -r -------, ..,1-==, l·--- . I I -·-I -----· ---··111-i '-. .-.. ,-•r• -I; ': I. 'i I' ·~ l ~ 'I I I ·~ .' • 'I I I. ' o I . I ~ r '1 I " I . , I .I .... -_! ·--~. ~.:.... ~i_ ~ I -LEGEND Minor Streets 141 143 1« ;../ Other Major Streets _;-/ Mlljor~ ~ Majorst:rffts Interstates ~ 1*m.otles Parcels City of Omaha Zoning D D .,, ~ Mi-Ff ~ Mi-FW DAV • AV-ED fl! AV-ff' D Av-fW D cao D C~PUD 11111 cc D Cc-ED D CC·fD-fF D CC...fD-fW D CC-ff D CC-fW 0 CC-MD D CC·M!H'f D CC..ffD.fW DCC-PK D CC-PUO D CJHF D DR D OHO D DJt·ED·fF D OR-tl>-FW D DR-ff = DR·FW """"' DDS ~ Ds-fW D GC 0 GC-'ff 0 GC-FVI II. Project Narrative Gordmans Corporate Headquarters 1904 South 67th Street Omaha, Nebraska 68106 A. Project Summary The Aksarben Village Zone 8 project is a mixed-use building with approximately 117,000 gross square foot, including approximately 36,000 rentable square feet of prime retail space and 70,500 rentable square feet of Class A commercial office space. The surrounding site work will include surface parking, roads, landscaping and pedestrian plazas. The Aksarben Village Zone 8 project will be anchored by Gordmans as their new corporate headquarters location. Gordmans is an Omaha based apparel and home fashions retailer operating 83 stores in over 3.5 million square feet in 18 states, and employing more than 4,000 associates. Over the last four years, Gordmans has enjoyed significant growth, expanding its number of stores by nearly 50 percent. As a result, Gordmans needed to replace its corporate headquarters building which as originally built in 1967 and had not been remodeled in over 18 years. Gordmans issued a Request for Proposal to developers in Omaha and surrounding communities for a new, approximately 70,000 square foot headquarters building and Aksarben Village was the successful proposal. Noddle Companies, headquartered in Omaha, Nebraska, has successfully developed hundreds of commercial properties for over the past 40 years throughout Nebraska, surrounding areas, and around the country from New York to Utah. Noddle Companies was the key consultant in the creation of the Aksarben Village concept and execution of the plan serving as the "master developer" to coordinate the assemblage of the Aksarben site, entitlements, zoning, design guidelines, infrastructure installation and selection of specialty developers for the entertainment and residential components. Noddle Companies also developed the first three mixed-use buildings in Aksarben Village comprising over 210,000 square feet. During the creation and execution of the Aksarben Village concept, Jay Noddle worked closely with Dana Bradford, now Chief Executive Officer of Waitt Company, while Dana worked on behalf of the Aksarben Future Trust. Waitt Company later became a major investor in the remaining land sites in Aksarben Village. In order to best develop the Aksarben Village sites, Waitt Company and Noddle Companies have joined together to form Waitt Aksarben 8, LLC. B. Project Description The Gordmans Corporate Headquarters project will relocate Gordmans national headquarters to an existing vacant site within the developing Aksarben Village neighborhood, fulfilling a long- held community vision to use and re-purpose vacant urban land. Gordmans growth has pushed it to capacity within its existing facilities. To accommodate this growth, the Gordmans Corporate Headquarters project proposes development of a new, architecturally significant, 117,000 gross square foot office and retail building to be located west of South 6ih Street and north of Frances Street. A $29.5 million development budget has been established to construct a fully functional specialty facility designed to meet Gordmans immediate needs and allow for future expansion. The Gordmans Corporate Headquarters project is designed to accommodate up to 284 FTEs, providing ample flexibility for several years to come. The project is anticipated to be complete by March 1, 2014. Public improvements will include on-street parking, new sidewalks, ornamental paving, integrated planters, landscaping and pedestrian lighting along South 6?1h and Frances Streets. The Gordmans Corporate Headquarters project will be designed by the architectural firm of HDR Architecture, Inc. located in Omaha, Nebraska in conjunction with RDG Planning & Design. Civil engineering will be provided by Lamp Rynearson & Associates. The project's owner and developer is Waitt Aksarben 8, LLC, a joint venture of Waitt Real Estate, LLC and Noddle Zone 8, LLC. Gordmans will be the long-term tenant of the headquarters facility under a lease with Waitt Aksarben 8, LLC. An additional 36,000 square feet will house specialty retail or other office uses. This Tax Increment Financing request proposes that Waitt Aksarben 8, LLC will receive an estimated $3,587 ,000 in Tax Increment Funds generated by the increase in property taxes resulting from the improvements proposed for Gordmans Corporate Headquarters. Approval of the $3,587,000 in Tax Increment funds requested by Waitt Aksarben 8, LLC will offset TIF eligible costs related to the development of the $29.5 million Gordmans Corporate Headquarters project. Over the years, Gordmans has become an important link in the Omaha business community. The Gordmans Corporate Headquarters project, and the Tax Increment Financing that will make the project possible, will only serve to strengthen Gordmans ties to the Omaha business community. C. Ownership Structure/Control of Property The project will be owned by Waitt Aksarben 8, LLC, a joint venture ofWaitt Real Estate, LLC and Noddle Zone 8, LLC and leased to Gordmans. The development site, a portion of the former Aksarben Race Track, will be acquired by Waitt Aksarben 8, LLC, on or before March of2013. D. Land Use Plan Waitt Aksarben 8, LLC, proposes to construct a three-story, 117,000 gross square foot office building for lease by Gordmans as its new corporate headquarters. An additional 36,000 square feet will house specialty retail or other office uses. Tenant parking will be provided by 256 stalls located in an adjacent parking garage and an additional 129 parking stalls located within adjacent surface parking lots or on-street locations. E. Zoning -Current and Proposed Current zoning is MU (Mixed Use) and MU-FF (Mixed Use, Flood Fringe) F. Public Improvements, if applicable Public improvements will include on-street parking, new sidewalks, ornamental paving, integrated planters, landscaping and pedestrian lighting along South 6?1h and Frances Streets. In addition, $1,215,000 of the $3,587,000 in TIF proceeds will be contributed by the developer to the Aksarben Village Infrastructure Escrow Account to pay the projects pro rata share of the overall public facilities costs for the Village. G. Historic Value, if applicable -Not applicable HI. Project Site Plan, Building Floor Plans & Elevations ,',--,-· ·-,- I "~:' ·;:=.:,. ~,-~-..,..~--'" ' " \ \ N ..-. •. ") . ·~,\ l.,'.. ,• ,--.. ~ J .'.'ii . fl I -, 1·' ~I 1 :_· J, . -) • i j ' ,: : l . ~ -·1j IT ."' : j" l •" ;, --'-"'--"---=· j \~L\2 = =· f\ I, . b ,Jb i : J 1' ' I i ,•--\ = \\ r .,., ·----, ". ' I · _j -, • ~ --·· . . ' l • r---_ ... , . .., ·:::J _ I . J n -,,.;· --... __ __. >: ' '~~~--·-·. '" -,1~ I\ :" r· C. C , ' · \ \ , ' 0 n ,, .. , of>'\ \~~rf ;,1T";' , J:-...(~-·~1-00;, .I~ I 11 -~ 11.: I • ' \; " -• .,, , I''. \ ., " ,--v ~ --------' ; !j (o .::::::Jc::. r _J c_:• c·• •:.:• •. __ ;-_/ ( \ \ -~, ~'•)I, .. , -. " ''"'"''"''--_ ... ,) ~--·----~ '· , --~ ~-~, ' ' < _.._., -~-;;' -a· r • . '.r:·. .. ""~ ~__.. . ' \\', -~ i ~-,. ~ ,. . l I ---: 1; ____ ...J. J~ I ,. I 1·. 1.-.1·:1: ~-~;\,,.,.,,/ '-"\•\'~ , c:c---·~?' ~~1r t-_----.1'1 '·; ---i' \\ \ ·1,. ' ' I ~ I'' iiiiiiiiiii..a '1. . • \'.\ o <---~. , 1 -~ --c· -/ \ .... I~ \ > \\ \ : ~ .-~ !}-=====--'' __, / ' ~ ''\ :,\ \ ! jf' ,-Ji i/ -(' -~~"'\~ ("' _r, __ ; J I \ ....,(.J \ "' ·1» ..• _;-' . -___ ,---. ,--, _ _s, < I ' <'.)~ ,. ' I I II ~. \ "'"' :;;../" ' ,J ' -' ' "~;/ _/ ,,_,,. --;~ -\~ Ll r· \ / .... , \ _/ ~·"' \ l " " \ __,./,Q / ; -• / ..:.•~ "' l • ) \_:-:" .--·-----/ / / CONTEXT PLAN AKSA.RBEN VILLAGE -ZONE 8 @WAITT ""'"' ,,, .. ,,.._,,,_ fil~ ~'! -·-, J'. 'i ---r-1 . -- •' . I I I ~ ; I- I- <( $ ~ O'.) w z 0 N w Cl ::s z -' <( > _J z 0.. w ill w 0::: <( !:: (/) y: (f) <( LLl1 1 ~ I 1 i ; . co w z I-2 z· :J w 0 <.'.) u ;3 <.9 > z tE -co ~ ex: a::: <( 0: ~ w > j::: () w cc 0.. w Cf) z 0::0 w~ 0.. w I-0 Cf) ::s <( =::! w> I dJ I-co ::i ~ 0 (f) Cf)~ LU > i= u LU ro 0.. w (/) z 0:::0 LU r-: 0.. w (.'.) I-< (/) _J <l:: :::::! LU > I ctJ I-[{J 0::: 2€ 0 U) z~ "t.,;~~ ~ " . ...... j 'f ,A . · .. . . It ;, ~ •' . .1.·'. BU~N·l~HEb BLOCk i MATERIAL PALETTE AKSARBEN VILLAGE -ZONE 8 KALWALL SKYLIGHT GLASS ALTERNATE BURNISHED BLOCK @WAITT "' ,,, .. , .. , ..... ,, fil~ ;; I- I- <( 3: @) o:i w z 2 w (!) (f) ::s z -' o> -z ~w :> ~ w <t: _J U) w~ w (') (/) <( z -' os! f= z :g;~ UJ <( ....I (/) UJ ~ TOTAL SIGNAGE AREA 900 sf 300 sf remaining for future expansion BLADE SIGNS LEDGE SlGNt\GE ARE/\ SIGNAGE DIAGRAM AKSARBEN VILLAGE -ZONE 8 ,--------r--.---CORPORATE TENANT-------------SIGNAGE AREA BLADE SIGNS @_ WAITT "'""' .-... ,.. .. "'' fil'\. 0 0 ® 0 0 0 0 ·~=·· 0 ( 0 m I I ! i i I I ' .... I ! i I I 0 0 I I I I =a~·····1 'I w111rr 00 ~;,ii 'Y I '' ~ ---.;.---1---· 9, ~-T-! I : : ~-!~\! : ; :~-! I ! I i I •l I ii I I I ~ 1 \ I I rl'°'"""==~""'~ll'.i'jjg_ ___ +-I ; L __ r J,J.J'[_ ·=-~ ____ ~!Ht-~EJt~~ I :e~: :e~ t :e~:1Jf: ''~EJAIL ~ L--------------d DE] ~ I Cill:] ~ ~ o. '"' r • IJ . ------1 I ' ' ' Q KEY PLAN ffi fil~ .'10DDI ( CO\.\l'\~ll"S @~~'I'~} NODDLE COMPANIES AKSARBEN VILLAGE ZONES 67TH & FRANCES STREET, NW CORNER ---·~"'"'""I'"'~~"" f"l'().~CT 'fl·~~·~~! W;rnO.>l-'tl l"D'>W'E"'O>fl~GT <~r.f1"3 O"-U,.--'l">"'><j(>'<'(~ ~·;::::::::::~:1;·::::.;" ,,~~,i:~~:":: I:::::~, 1:-~~:./' rvV 0F -i'<'/ ORIENTATION PLAN -GROUND LEVEL ·~·]·····-A-101 CONSTRUCTION DOCUMENTS 0 0 m @ 9 0 0 0 8 0 8· 0 --ti ' 0 I ' ' cp ·~cp er rr ere ' " cp I I n I 1 I I " I I I I ' -.-r--.~ :-'-1 · -.:::---..--.~_,_I '-i 1 I --1-----:--0 ···--w· ... -·--· -. ' '' : I I i I I I -~----L___ _U -d I : i ii!i i la9f>b"" I i - --n--- - --.,------,-rl -- -,............. -r --r----r-- - - -.,. I ·· I i, I I 11 I I !!, • ' ·~ ' i i : ! i i i i ' I ' .c~ .. c-+-~.c ' I ' I ' ' ' ' ___ LJ -____ J ' ' ' I I OFACE I m<AITT c:m::::J I i 11 I \I[ c+-r, ---t--4+--'I . . .. i i ! i i iii I ~ I I I I ' =Il=·· I -+ ___ _.. __ _ __,_ I I ' I I 1 I I •-l,tmL-°=i·"L.------,-------,-111 --~;:--,--_____ L ______ U, I ----1-----I -'I ---t-li+i4R= I I 11 I I I I I I , I I. 11 I I I I' I\, I I I I I , I ..,.. I J I I I 1: mT I: 1'.,_I t ------+-it---+-l+t OFFICE TENANT OJLl i ! i i ii" ' 11 1: 1:1 I '. I : I I , I I /11 i ' I i I -0 ---0 l_--0 ' ·G I I I• I I ·f 1 l : ----' ·-~--=-:-~----,--=-,--,--~-=--~--,::~, ' ' -=,--;----tJ--0 L -------r ------1--IT----T -1-r-'----, -------T .. ~ ~~ KEY PLAN EB fil'-Nc1orn r co-..111-\-..:1rs @ ~A1l:rT NODDLE COMPANIES AKSARBEN VILLAGE ZONES 67TH & FRANCES STREET, NW CORNER ~.::·:....1--. ;::,~;~::,~;I~~;:.:.'::.:.~ ""'-~···I""''"'~. L"'lli'-"'("'C>{!E0l l~Hrt·E.l Ct/l.Err.•HR _.....,t>Hbt """°'u>'LU<,NOf">•«"'"'\Gf ·~:;::::::1:::::::~ ... #-~~"',..," <lq,.'<-Y,,cl I' ORIENTATION PLAN -SECOND LEVEL "'+"'" A-102 • CONSTRUCTION DOCUMENTS ----------------------· 9, cp -r--[j ! ' ", . '.If --~-0 l!il _._ .. I_ I I II i I 11,, ' 9 u, .. ' r~·[SJ ' :t' i ill!_ I l I ----,----, , 11 ,-I i1''1 ! !!~'' i " i I I I,, 'i!, _i_iJI!_ LL_, ''II 'i I , 'i I I I,, :1 I I I I ' ' -i-----~ I ' I ' ____ J OFFICE TENANT = ' I ' ~---0 ~-0 I -----t+~--0 ' I ,_:_-_--=-:::_ -_ l _ ---1r1~~~ ' ' L . I ! --r -------T--;t----t-i-rl t-~ -~ ~ ~ = ~ b-0 ., I I ~ KEY PLAN EB fil'-~onrn ( Co,1p.\:--.:1rs @~~f1_:rr NODDLE COMPANIES AKSARBEN VILLAGE ZONES 67TH & FRANCES STREET, NW CORNER ~ ~~¢' rvV # q,~$ .. a ORIENTATION PLAN -THIRD LEVEL ·~·I,,-· ... A-103 CONSTRUCTION DOCUMENTS e, L 9 I I I I I I I I I I I I 9 i?( I f 1 I : 11 ~i;ll I H!I~ 9 I I I ?t~--0 ! !~-----!+~-0 t I I 1 I I // 111: (::. I r-0 I I jil -1---0 © Jl _±Jj[Ltt_Hf=__ t-'MG) -i ·G ~---0 1"-1 1 n I I . _ • =t # t tllll=Jr . ! r -r rt----I _1_11 1= -1"---0 T I 1t-1 _______ 1 _) .. T ~ KEY PLAN ID~ ~(JD!Jl t C0\.11'·\NU:S ~WAITT ~ cr:-r-:~'.'oi .. i·,' NODDLE COMPANIES AKSARBEN VILLAGE ZONES 67TH & FRANCES STREET, NW CORNER •·-'"'" ' ' ' ' b , = . . ' ' ~ '>.$>·ol)•' q'<-<(),/o ORIENTATION PLAN -FOURTH/ROOF LEVEL •~•loo·• .. , '" A-104 ffi • CONSTRUCTION DOCUMENTS I Gordman's HQ PRELIMINARY • NOT FOR CONSTRUCTION Design Development Drawings I AksarbenVillage V. Sources & Uses Aksarben Village -Zone 8 Development Financing Sources and Uses Mar-13 Uses Of Funds Aor-13 May-13 Jun-13 Jul-13 Aug-13 Seo-13 Oct-13 ProjectCost $ 2,837,733 $ 2,316,910 $ 2,047,337 $ 2,343,880 $ 1,649,636 $ 1,607,859 $ 2,103,397 $ 2,070,433 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 TOTAL $ 1,825,897 $ 1,772,852 $ 1,592,065 $ 1,580,790 $ 1,534,318 $ 1,367,750 $ 1,630,278 Infrastructure Contribution $ 1,215,000 $ 1,215,000 $ 1,215,000 Total Uses Of Funds 2,837,733 2,316,910 3,262,337 2,343,880 1,649,636 1,607,859 2,103,397 2,070,433 Sources Of Funds TIF Loan $ (3,262,337) $ (324,663) 1,825,897 1,772,852 1,592,065 1,580,790 Construction Financing $ (1,966,624) $ (2,316,910) $ $ (2,019,217) $ (1,649,636) $ (1,607,859) $ (2,103,397) $ (2,070,433) $ (1,825,897) $ (1,772,852) $ (1,592,065) $ (1,580,790) 1,534,318 (244,450) 1,367,750 1,630,278 $ (3,587,000) (77,881) $ (340,409) $ (21,168,421) Equity (871,109) $ (1,289,868) $ (1,289,868) $ (1,289,868) $ (4,740,714) Total Sources Of Funds (2,837,733) (2,316,910) (3,262,337) (2,343,880) (1,649,636) (1,607,859) (2, 103,397) (2,070,433) (1,825,897) (1,772,852) (1,592,065) (1,580,790) (1,534,318) (1,367,750) (1,630,278) (29,496, 135) Total (Surplus) I Short Financing Terms Loan Amount Loan To Cost $ Interest Rate 265bp over LIBOR Loan Term Amortization Term Loan Fee $ $ $ 21, 168,421 80% 4.62% 8 years 25 years 0.5% $ $ $ $ $ $ $ $ $ VI. Project Construction Budget & Development Schedule Location: Aksarben Village City: Omaha State: Nebraska Plan: SITE AREA Excess land North Total Site PARKING Gord mans Retail (2nd) Retail (1st) 84,114 SF. S.F. ----a:r,114 S. F. Ratio --,.-0 per1,000rsf 2.0 per1,000usf --3.-7 Average Stalls ---,-.-, ___ 2_3 303 48 2.0 per 1,000 usf 33 Average ___ 3_5_1 Total Stalls Required 385 Stalls Provlded FINANCIAL ANALYSIS: LAND: 84,114 SF. @ 18.50 perS.F. 20.00 per S.F. PRE-DEVELOPMENT EXPENSES: Aerials, Demographics Quadtech {review I consultants/ legal) legal Boundary Surveys & Topos Flood plan map revision -LOMR-F Storm Water polution prevension plan & monitoring, erosion control. closeout A&E Predevelopment Geotechnical Report· Additional soil boa rings Surcharge Monitoring Zoning Expenses -administrative replat Watershed Mngl Fees -$4k/acre Interceptor Fee Parks Fee Phase I Environmental Phase II Environmental Traffic Study IMPROVEMENT COSTS CORE & SHELL: Foundations Super5tructure Enclosure Roofing Interior Construction Interior Finishes Conveying Systems Plumbing HVAC Fire Protection Electrical Equipment I Specialties Cost Adjustment for Gordmans Alternates -Cash Pmt GENERAL CONDITIONS CONSTRUCTION CONTINGENCY -3% Construction Fee (included in line items above) Core & Shell Subtotal INTERIORS: Gord mans Offi~ Retail Interiors Subtotal S!TE: Grading I Sitework Site Prep -Strip Site/Over Excavate/Surcharge Site Improvements sidewalks, screen walls, etc Underground Utilities Lighting· Parking/Decorative Site Contingency Utility Connection Fees (OPPD I MUD) Parks Fee Site Subtotal PEDESTRIAN CONNECTJON PARKING GARAGE BUILDING ALTERNATES (See breakout tabs) ARCHITECTURAL FEES CIVIL ENGINEERING FEES OTHER COSTS Interim loan fee Interim loan interest Permanent loan fee Builders Risk Insurance R/E Taxes during construction Surveys Infrastructure Contribution G.S.F. 134,478 R.S.F. 106,990 Developer's Overhead 4 00% of hard costs leasing Commission Developers Contingency LEED Certification & Commissioning -$1.50/gsf Signage OPPD • Servce connection Fee Building Permits (C&S) Building Permits (Interiors) Capital Facihties Construction Testing Marketing Expenses(retait) COST REDUCTIONS TIF Aksarben Village Zone 8 PROFORMA 5.79 25.64 16.89 3.42 5.38 3.41 1.26 3.45 14.03 1.53 10.11 0.16 5.21 304 Full Buildout iLB§.E • 728 $ 3223 $ 21.23 $ 4.29 $ 6.76 $ 4.29 $ 1.59 $ 4.33 $ 17.64 $ 192 $ 12.71 $ 020 $ $ 6.54 $ 3.82 $ $ fill.§E iLB§.E $0.00 $0.00 $ 2.42 2.65 2.06 2.26 0.88 0.97 0.31 0.34 BUILDING AREAS 1,556,109 15,000 50,000 PLUG 4,500 LRA Quote 3,700 LRA Quote 3,550 LRA Quote 3,250 Terracon quote 11,484 Terracon quote 4,800 LRA Quote Factor 1st Floor 2nd Floor 3rd Floor Total 7,724 $4klacre·cityplanning 11,534 $5973/acre -City planning 1,545 $800/acre -City planning 5,000 PLUG 779,222 3,448,658 2.271,g13 459,280 723,127 459,082 169,761 463,780 1,887,280 205,932 1,360,126 21,209 (260,136) 700,000 408,464 13,097,698 3,7g1,215 2,004,915 5,7g6,130 COST (included in C&SJ 284,046 241,880 103,504 includes water retention 36,771 Gordmans Retail Total Gordmans Retail/Office Total Gord mans Offi~ Total ~:~ ~-~: 7$--,,67~:~.~:~~ $0.00 0.50% 000% 740,811 1,800,000 105,260 836,174 0 /LSF C&S Interior Finishes Garage &Site Misc. AJE expenses 21,168.421 loan Amount 4.62% Interim Interest Rate 18 Leng1h of Project(Months) Date: 311112013 Adjusted GSF B..§f 1!§f R/U Factor 0.95 3,870 1,850 31,608 28,888 25,843 1.1178 28,840 28,614 __ ._ ~ ~ ___ ._ 42,476 40,275 39,959 10079 37,827 37,827 - -- -~ ---~ 37,827 1.0000 ---~ ------------- 117,242 106,990 103,629 1.0324 NET LAND COSTS $ 1,556,109 TOTAL PREDEVELOPMENT COSTS $ 122,087 TOTAL CORE & SHELL $ 13,097,698 $ 122.42 $/RSF TOTAL INTERIORS $ 5,796,130 TOT AL SITE COSTS $ 670,063 TOTAL PARKING GARAGE $ 2,540,811 TOTAL BUILDING ALTERNATES$ TOTAL CONSTRUCTION $ 22,104,702 6 00% $ 785,862 0.75% $ 43.744 6.00% $ 84.652 0.25% $ 55,262 TOTALA&E 969,520 27,856 57.00% Average Outstandmg Balance 1,215,000 884,188 1,023,499 246,310 175,863 30.000 21,000 plug 58,582 10.337 19,648 40,000 plug 50.000 4.743.717 ($3,587,000) 72% Loan to Cost TOTAL OTHER COSTS TOTAL DEVELOPMENT COSTS TOTAL REDUCTIONS MARKET VALUE EQUITY ADDITIONAL EQUITY NET PROJECT COST 4.743.717 29,496,135 (3,587,().10) (871,109) (3,869,605) 21,168,421 ANNUAL INCOME Return 987% Proforma Rent 19.53 Triple Net Est. 9.12 CAM 3.87 Insurance 0.16 RE Taxes 3.50 Utihties 092 Janitorial 0.68 Additional Parking $ ANNUAL EXPENSES Common Area Maint Insurance Real Estate Taxes Utilities Janitorial Repairs and Replacements $0.25 psf Additional Parking Total Aksarben Village Zone 8 PROFORMA Full Buildout Additional R.S.F Rent/RSF Rent CAM Insurance RE Tax Utilities Janitorial Parking 106,990 19.53 2,089,940 414,323 16,744 374,465 98.322 72.223 Gordmans rent-$17.00/rsf on 70,537 sf Retail 1st floor -$23/rsf on 25,018 sf Retail 2nd floor-$18frsfon 11,435sf 414,323 16,744 374,465 98,322 72,223 26,748 1,002,824 RENTAL INCOME CAM INCOME !NS INCOME TAA INCOME UTILITY INCOME JANITORIAL INCOME ADD. PARKING INCOME VACANCY ALLOWANCE EFFECTIVE GROSS INCOME TOTAL EXPENSES NET INCOME BEFORE FINANCING 2,089,940 414,323 16,744 374,465 98,322 72,223 (198,834) 2,867,183 1,002,824 1,864,359 Aksarben Village -Zone 8 TIF Eligible Expenses Description Off-Site Infrastructure Contribution Land Site Preperation, Soil Stabilization Special Foundations Site Improvements Site Mechanical Utilities Site Electrical Total Total Costs $ 1,215,000 $ 1,556,109 $ 347,161 $ 890,423 $ 355,624 $ 114,028 $ 33,095 $ 4,511,439 Design K"ck-On Meetirg Programming Meetings LeaseReviewsJEdb Review/Approve Schematic Design Execute Lease Agreement Furniture Mock-up Review SelectFurnilureManurac!urer Review! Confirm Flll'niure Layout I Fir"lishes Place Furniture Order Furniture Shop Drawings Fumaure Installation Furnaure Pt.mchlisl Conceptual Design Schematic Design F".,aizeSchematic Desi;Jn Design Development Contract Documents Comple!e Structural Create Analysis Model Size Gravity Framing LateralAnalysisand Design Perimeter Grade Beams Dfa!ling/Coordination _Pile Cap Design Coordloading Dock Recess/Embeds CoordShaft/Elevator!StairOpenings Elevator P!Desgn lateral Load Resisting P~e Cap Design VerifyEquipmenlWeights Dratting/Coordination Specifications Core/Shell Package Sae surcharge Package Structural Steel Mil Order Foundation!SlrucluralPackage Design Development Contract Documents (GMP) Interior Bid Paclragu Notice To Proceed Vllilh DD NotlceToProceedVv'ithCD 95% Set Review Apr 0 12-Sep-1; 35 12-Sep-1: 16-0ct-1 50 12-Sep-1: 06-Nov-· ·t--0 10-0ct-1 0 31-0cl-1 40 03-Jun-13" 29-Jul-13 ~ 30-Jul-13 ~~~~~:3/ -+----!--08-0ct-13 SO 09-0ct-13 19-Dec-· 16 20-Dec-13 14-Jan-14 515-Jan-14 21-Jan-14 26 05-Sep-1: 16 11-0ct-1~ 30 06-Nov-1: 33 24-0ec-1: 47 06-Nov-t 20 06-tJov-1: OS-Dec-· 5-09-Dec-1·. 13-0ec-· 15 09-Dec-1: 23-0ec-· 10 09-Dec-1: 1B-Dec-· 5 14-Dec-1: 1B-Dec-10 14-Dec-1: 23-0ec-· 5 19-Dec-1· 23-Dec-· 5 24-Dec-1" 28-0ec-· 5 24-Dec-1: 28-Dec-· 15 24-0ec-1: 28-Jan-1 5 29-Dec-1'. 10 29-Dec-1" 5 03-Ja~1: 90 15-0ct-1: 20 05-Sep-1: 02-0ct-1 :--:·--Co~tract Documents CompletS: -:--------------------------·---ar.i R-~s1s1;ng · p1~ ·c!iP oes gn----~--1raling/Coordin~lion C:J Sp~c1ficahons • Siteioevelopment Package ~ _ :.~rl ~~~~-t~~~~i~-~ -~~~~,-~~~-:.t~~~e i ! 48 03-0ct-1: 08-Jan-1 3408-Jan-1: 25-Mar-· I --1--., ... ------------c:,~i;.01·00.:;;,;;;;;·(oi.ie\ + 46 21-Dec-1" 01-Apr-13 0 21-Dec-· 15-Feb-· Notice To hoceed Wth CO ! c::::J 95~k Set Review --·+ ------------------.--1~i~f;;r·s~d-Pac·i;age--5 20-Mar-13' 26-Mar-13 0 25-Mar-' t Design Documents Co~plete fill. 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Ft "'" ~ ti \ :·~-~/'" ivfyName ~ Aksarben Village Zone 8 -Gordmans ~· ·, '' Negotiate Structural Steel Package Bid Foundation Package DesignDevelopmentEslirna!e Bid Site Development Package Bid Contract Documents Price DD BidTIPac~ge Pennlltlng Grading Permh/SWPPP Submittal Grading Permll/SWPPP Re11iewlAppro Foundations Perm~ SubmHal Foundation Permit Review/Approval Building Perm~Subrruttal Building Perml Review/Approval Tl Permit Submittal Tl Permit Review/Approval Contract Buyouts/Shop Drawing Prep Surch;ngeContrac! Structural Steel Material Contract Deep Foundalions Contract Reinrorcing Steel Material Contract Elevator Package Contract Structural Steel Notice To Proceed SHe Development Package Contract ExteriorClosureContrac! Exterior Glazing Contract GlaissHandralContracl Field Measure Glass Handral Shop Drawing Review Reinforcing Steel Shop Drawings StrueturalSteelShopDrawings Elevator Package Shop Drawings ExterlorEnclosureShopOrawi.igs Glilss Handraa Shop Drawings Fabrlcallon Reinforcing Steel Fabrication Struclura1Stee1Fabricalion ElevatorFabricaUon Exterior Enclosure Fabrication Glass Handra~ Fabrlc•lion Bobcat331 Excavator Walk·Behhd Roler Remove Surcharge I Rough Grade Groundbreaking Ceremony Temporary Power fnstalUndergroundStotageChambers. Construct North Drive Lane Grading StteElectrical Site Storm Sewer Concrete Curb Paving Ftrush 10 30-Nov·1: 13-Dcc·· 130 15-0ct-1~ 22·Apr-13 15-0ct-1 20 16-0ct-1: 00-Nov·· 0 00-Jan--1 6al 20 10-Jan.1~ . 15-Feb-· 25-Feb--13 20 26-Feb-13 25-Mar.13 0 25-Mar-13 20 26-Mar-13 22·Apr·13 178 2.5-0ct-1: Q9..Jul-13 10 25-0ct-1: 25 14-Dec-t 1516.Jan-1:0 251S.Jan.1: 20 15-Feb-1: 0 1518--Feb-1: 20 25-Feb-13 20 25-Feb--13 20 2J..Apr-13 0 116 25-Jan--1: 525-Jan.1: 02-Nov·· 28--Feb·' 07-Feb-• 20-May-· ()9...Ju!-13 ()9...Jul-13 20 04-Feb-1: 14-Mar-13 15 15-Mar·13 04·Apr-13 10 25-Mar-13 05-Apr-13 1025-Jun--13 10 22.Feb-13 07-Mar-13 40 15-Mar-13 09--May-· 80 05-Apr-13 29--Jul-13 65 08--Apr·13 Q9.Jul-13 .. Mar Apr M•Y Jun ~ -. -'c=====i BidTI Package ' ' Foundal~n Perm~ Review/Approval i + $uildingPermitSubmitlal <::;::=:= ::::::::::::::: Building Perml Review1Appro\lal ----------+-ri~er~1t·s·ui;m1tta1·---------~---~ Tl Pd,rml Review/Approval i ! i StructutalSteeJMaterialConlract F~~nci;;,iO;;~·c-,;;;tra-,;t--------r------1--Reinlorc1ng s1ee1 Ma1eria1con1rlic1 ~' Eleva!orPackageContract Structura1:s1eel Notice To Proceed ' -;·;-----z 1 ExteriprGlazngContracl =====::i Glass ~andrailContract Re1rtrore1;;g·sie~ishop·oraWi"n-g~----. ~ StructuralSt~elShopDrawings ! 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Level 3 7 18-Nov-13 26-Nov-· Third Fbor Complete 0 03-Dec-· RHtioOiris AO Oi-.q:13 -m-OC.1-13 Setc3rrie~;-~L.evel3 , 2 67-AuQ:13 oa.-Aug-13 • MIE/P Rough In -level 3 5 09-Aug-13 15-Aug-13 lnstal Orywaff-Level 3 5 16-Aug-13 22-Aug-13 Finish0ryv.'8U-Leve13 3 23-Aug-13 27-Aug-13 PahtWalls-Level3 5 28-Aug-13 04-Sep-• Til! AoorsNValls -Level 3 15 05-Sep-13 25-Sep..' Specialtylnstallation-level3 5 25-Sep..13 02-0ct-13 1 M/E/PFini&hea-Level3 5 2~5ep-13 02-0ct-13 ----··. Commissioning Punch List-Level2 Substantial Completion CertifieateofOccupancy PunchLisl-LevelJ 15 24-0ct-13 07-Nov-· 50 29-0ct-13 18-Dec-· 15 11-Nov-13 03--Dec-· 0 04-Dec-· 04-Dec-· 15 04-0ec-13 24-Dec-· Feb Mar Ap< May ··-i·· --~---+---·:·---··t--~ --Aksarben Village Zone 8 -Gordmans 2013 Jun '"' .. t----Aug Sep .-J, •• II Seticarr1ers-Level2 c::::::J M/E/PRoughln-Lever~ ft:::::::i·-1nstai0r-~ai1:i.~~ei2.. --+-a Finfsh0ry-..vani.Level2 c::::::ll Paintw~ns-Level2 Cid "" I! 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Punch List -Level~ \ ---···--·------• -......... ···c~m~-iSS(~n1ng·-Punch List-Level2 l • Substantial Completio~ '•certmc:a!eofOc:cupa+y ==== Puni:hLst-Leve13 __ ,__ ...... ---~--........... :-·'----F;~~iC~~-n-· :• ProieclComplete Project Complete 9 22.J.,.14 ::::::1 nl mun 1• I Final Clean fil{ @)Kiewit Sufldfq Group '.'.""'.F''~g ·~, ;r ; · r,'~ r ~ ·: \.C'../· VII. TIF Loan Schedule, Project Pro Forma & Lender Commitment Applicant: TIF Projection/Gordmans/106,990rsf@ $3.SOpsf: $18,000,000 construction 100% valuation $3.587,000 TIF supported 4.50% interest Debt Service Payments Total Less Pre-TIF Treasurer's Revenues ------------------Taxable Development Taxable Tax Tax 1% Collection Available Interest at Loan Capitalized Interest at DATE Valuation Base Valuation Levy Revenues Fee ForTIF Loan Principal 4.50% Total Balance Interest 4.50% -----------------0 $3,587,000 0.5 0 0 0 2.17448 0 0 0 $0 $0 $0 $3,667,708 80708 80708 1 0 o 0 2.17448 0 0 0 $0 $0 $0 $3,750,231 82523 82523 1.5 0 0 0 2.17448 0 0 0 $0 $0 $0 $3,834,611 84380 84380 2 12857143 0 12857143 2.17448 139788 1398 138390 $52,111 $86,279 $138,390 $3,782,500 0 86279 2.5 18000000 0 18000000 2.17448 195703 1957 193746 $108,640 $85, 106 $193,746 $3,673,860 0 85106 3 18000000 0 18000000 2.17448 195703 1957 193746 $111,084 $82,662 $193,746 $3,562,776 0 82662 3.5 18000000 0 18000000 2.17448 195703 1957 193746 $113,584 $80,162 $193,746 $3,449,192 0 80162 4 18000000 0 18000000 2.17448 195703 1957 193746 $116,139 $77,607 $193,746 $3,333,053 0 77607 4.5 18000000 0 18000000 2.17448 195703 1957 193746 $118,752 $74,994 $193,746 $3,214,301 0 74994 5 18000000 0 18000000 2.17448 195703 1957 193746 $121,424 $72,322 $193,746 $3,092,877 0 72322 5.5 18000000 0 18000000 2.17448 195703 1957 193746 $124,156 $69,590 $193,746 $2,968,721 0 69590 6 18000000 0 18000000 2.17448 195703 1957 193746 $126,950 $66,796 $193,746 $2,841,771 0 66796 6.5 18000000 0 18000000 2.17448 195703 1957 193746 $129,806 $63,940 $193,746 $2,711,965 0 63940 7 18000000 0 18000000 2.17448 195703 1957 193746 $132,727 $61,019 $193,746 $2,579,238 0 61019 7.5 18000000 0 18000000 2.17448 195703 1957 193746 $135,713 $58,033 $193,746 $2,443,525 0 58033 8 18000000 0 18000000 2.17448 195703 1957 193746 $138,767 $54,979 $193,746 $2,304,758 0 54979 8.5 18000000 0 18000000 2.17448 195703 1957 193746 $141,889 $51,857 $193,746 $2, 162,869 0 51857 9 18000000 0 18000000 2.17448 195703 1957 193746 $145,081 $48,665 $193,746 $2,017,788 0 48665 9.5 18000000 0 18000000 2.17448 195703 1957 193746 $148,346 $45,400 $193,746 $1,869,442 0 45400 10 18000000 0 18000000 2.17448 195703 1957 193746 $151,684 $42,062 $193,746 $1,717,758 0 42062 10.5 18000000 0 18000000 2.17448 195703 1957 193746 $155,096 $38,650 $193,746 $1,562,662 0 38650 11 18000000 0 18000000 2.17448 195703 1957 193746 $158,586 $35, 160 $193,746 $1,404,076 0 35160 11.5 18000000 0 18000000 2.17448 195703 1957 193746 $162,154 $31,592 $193,746 $1,241,922 0 31592 12 18000000 0 18000000 2.17448 195703 1957 193746 $165,803 $27,943 $193,746 $1,076,119 0 27943 12.5 18000000 0 18000000 2.17448 195703 1957 193746 $169,533 $24,213 $193,746 $906,586 0 24213 13 18000000 0 18000000 2.17448 195703 1957 193746 $173,348 $20,398 $193,746 $733,238 0 20398 13.5 18000000 0 18000000 2.17448 195703 1957 193746 $177,248 $16,498 $193,746 $555,990 0 16498 14 18000000 0 18000000 2.17448 195703 1957 193746 $181,236 $12,510 $193,746 $374,754 0 12510 14.5 18000000 0 18000000 2.17448 195703 1957 193746 $185,314 $8,432 $193,746 $189,440 0 8432 15 18000000 o 18000000 2.17448 195703 1957 193746 $189,484 $4,262 $193,746 $0 0 4262 2.17448 --------------------------=========== $5,228,066 $52,280 $5,175,786 $3,834,655 $1,341,131 $5,175,786 $247,611 =========== =========== =========== =========== =========== =========== ;;;;:;;;:;;;;;;:::;;;;:;;:::;;;;:::;:::: ASSUMPTIONS: NOTE: This information is provided to assist in analyzing the Original Loan Amount $3,587,000 specific request to the TIF committee. This information is subject Capitalized Interest $247,611 1. Assumes $685,000 Pre-Development Base to change based on actual tax assessments. This schedule assumes Loan Balance Remaining $0 2. Loan Amount: $3,587,000 a 100% real estate valuation and a 1.0 debt coverage ratio, This ---3. Interest Rate: 4.50% schedule is for illustration purposes only. The results contained Annual revenues: $3,834,611 4. Project Hard Costs: $18,000,000 herein are not guaranteed and include information from others which $391,406 =========== 5. Increment Base: $18,000,000 has not been verified for accuracy. Actual results may vary. The TIF and financing programs referenced herein have specific requirements and availability or receipt of TIF or financing is contingent on numerous factors and decisions of governmental agencies and financial institutions. No likelihood of financial feasibility or success is expressed or implied. Aksarben Village -Zone 8 Operating Proforma Op Exp Year Base Rent Income 1 $ 1,945, 105 $ 976,076 $ 2 $ 1,945,105 $ 995,598 $ 3 $ 1,969,792 $ 1,015,510 $ 4 $ 1,969,792 $ 1,035,820 $ 5 $ 1,969,792 $ 1,056,537 $ 6 $ 2,086,179 $ 1,077,667 $ 7 $ 2,086,179 $ 1,099,221 $ 8 $ 2,086,179 $ 1, 121,205 $ 9 $ 2,086,179 $ 1, 143,629 $ 10 $ 2,086,179 $ 1, 166,502 $ 11 $ 2,223,726 $ 1,189,832 $ 12 $ 2,223,726 $ 1,213,628 $ 13 $ 2,223,726 $ 1,237,901 $ 14 $ 2,223,726 $ 1,262,659 $ 15 $ 2,223,726 $ 1,287,912 $ Operating Expenses (976,076) (995,598) (1,015,510) (1,035,820) (1,056,537) (1,077,667) (1,099,221) (1,121,205) (1,143,629) (1,166,502) (1, 189,832) (1,213,628) (1,237,901) (1,262,659) (1,287,912) Total $ 31,349, 107 $ 16,879,697 $ (16,879,697) R&M Vacancy Reserve Allowance TIA Reserve Debt Service Cash Flow $ (26,748) $ (198,834) $ (142,653) $ (1,429,289) $ 147,581 $ (26,748) $ (202,810) $ (142,653) $ (1,429,289) $ 143,604 $ (26,748) $ (206,866) $ (142,653) $ (1,429,289) $ 164,236 $ (26,748) $ (211,004) $ (142,653) $ (1,429,289) $ 160,099 $ (26,748) $ (215,224) $ (142,653) $ (1,429,289) $ 155,879 $ (26,748) $ (219,528) $ (142,653) $ (1,429,289) $ 267,960 $ (26,748) $ (223,919) $ (142,653) $ (1,429,289) $ 263,570 $ (26,748) $ (228,397) $ (142,653) $ (1,429,289) $ 259,091 $ (26,748) $ (232,965) $ (142,653) $ (1,429,289) $ 254,523 $ (26,748) $ (237,625) $ (142,653) $ (1,429,289) $ 249,864 $ (26,748) $ (242,377) $ (142,653) $ (1,429,289) $ 382,659 $ (26,748) $ (247,225) $ (142,653) $ (1,429,289) $ 377,811 $ (26,748) $ (252,169) $ (142,653) $ (1,429,289) $ 372,867 $ (26,748) $ (257,212) $ (142,653) $ (1,429,289) $ 367,823 $ (26,748) $ (262,357) $ (142,653) $ (1,429,289) $ 362,679 $ (401,213) $ (3,438,512) $ (2, 139,800) $ (21,439,337) $ 3,930,246 first National Bani< February 21, 2013 Mr. Ted Zetzman Vice President -Development Noddle Companies 2285 S. 67th Street -Suite 250 Omaha, NE 68106 Re: Tax Increment Financing 1620 Dodge Street Omaha NE 68197 402.341.0500 Waitt Aksarben 8, LLC (Gordmans Corporate Office Building) Dear Mr. Zetzman, As you know, First National Bank has committed to provide construction/permanent financing to Waitt Aksarben 8, LLC for the development of the Gordmans Corporate Office Building to be located in Aksarben Village, Omaha, Nebraska. First National Bank would also favorably consider providing Tax Increment Financing for the project in an amount to be determined but not to exceed $3,600,000. Please do not hesitate to give me a call if you have any further questions or require additional information. We look forward to working with you on this project. Sincerely, FIRST NATIONAL BANK Michael J. Kuester Sr. Vice President, Commercial Real Estate Division VIII. ROI Analysis -"But For" Aksarben Village -Zone 8 Tl F Sensitivity Without the use of TIF to fund the required $1,215,000 Infrastructure Contribution and offset project costs, the required owner's equity would increase 64% to $6,086,000 and the return on the equity investment would drop from 11.72% to an unacceptable 7.15%. As a result, TIF is essential for this project to proceed. IX. Evaluation Criteria Mandatory 1. 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 proposed Gordmans Corporate Headquarters Project site, 1904 South 6ih Street, is located in the Aksarben Business and Education Campus Redevelopment Plan Area, an area designated as a Blighted and Substandard Area by the City of Omaha on December 17, 1996, Resolution No. 3325. 2. 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 proposes to utilize only the increase in property taxes resulting from the improvements proposed by the developer. Existing tax revenues will continue to accrue to the benefit of the City of Omaha and other taxing jurisdictions. 3. The developer is able to demonstrate that the project would not be economically feasible without the use of Tax Increment Financing. In addition, ifthe project has site alternatives, the proposal must demonstrate it would not occur in the area without TIF. As demonstrated in Section VIII, this project is not economically feasible without the use of Tax Increment Financing. This project represents a rare opportunity for a prominent Omaha corporation to develop a new headquarters on a vacant site in the Aksarben Village redevelopment area. 4. The project must further the objectives of the City's Comprehensive Plan. The proposed project is "consistent with and carries out the goals and objectives of the City of Omaha Master Plan" which emphasizes job creation, business growth and expansion, higher density development, implementation of Urban Design elements and more effective utilization of the existing service and facility infrastructure. Discretionary 1. Initially, the project will result in the retention and expansion of a prominent Omaha corporation and the creation of approximately 173 construction jobs. When completed, the project will potentially support the retention of 230 FTE employee positions and the creation of 54 new FTE employment opportunities. 2. TIF proceeds will be used for the construction of all public improvements required by the City of Omaha's Planning and Public Works Departments. In addition, $1,215,000 of the $3,587,000 TIF proceeds will be contributed by the developer to the Aksarben Village Infrastructure Escrow Account to pay the project's pro rata share of the overall public facilities costs for the Village. 4. The vacant site (as of the date of adoption of the original redevelopment plan) could, over the long term, present potential hazards to the public that would be eliminated through this project. 6. As of the date of adoption of the original redevelopment plan, the undeveloped site displayed conditions of blight and constituted an economic and social liability detrimental to the continued growth of central Omaha and the expanding University of Nebraska at Omaha campus. 7. The Gordmans Corporate Headquarters Project will result in the retention and expansion of a prominent corporation within the City of Omaha and the start-up of an entirely new business operation, Waitt Aksarben 8, LLC. EMPLOYMENT INFORMATION Permanent Jobs (FTE) to be CREA TED 54 Permanent Jobs (FTE) to be RETAINED 230 Permanent Jobs (FTE) to be RELOCATED 0 TOTAL 284 Anticipated Annual Payroll $14.3 million Estimated number of construction jobs to be created during 173 construction phase 8. As of the date of adoption of the original redevelopment plan, the proposed development site, a vacant and deteriorating race track and arena, displayed a pattern of declining real property assessments. 9. The project incorporates green building techniques or materials and/or the use of "green" technology within the redevelopment project site. Energy efficient design practices, recycled and/or renewable materials, green roofs, outdoor spaces, day-light harvesting and sun-screening are integral design features. It is anticipated that the building will achieve LEED certification. An overview of the project's green building features follows. LEED 2009 Core and Shell Development Project Scorecard Project Name: Aksarben Zone 8 Project Location: Omaha, NE Certification Goal: Silver Date: 1128/2013 0 z Notes ~1!H!mlfi~JB~i"E=~-=RFI';~c,~.: :··:~=·I··=·~•:·~:~ ·•••[•.·X:···~·c:eUJi.~~~:lilm~~l.fil:;;;:;;:fili:t:;.J;[.J~~~~lililiJ~llii~liiiiii~:J:ie~ 1 Must Comply with Environmental Laws D Req l--y~+--------1------------------1 2 Must be a Complete, Permanent Building or Space D Req 1--Y.:._+--------lf-------------------! 3 Must Use a Reasonable Site Boundary D R<:>o l--y.!.-+--------lf-------------------1 4 Must Comply with Minimum Floor Area Requirements D Rceq Y Must Comply with Minimum Occupancy Rates D rz . .:c: 1--Y,,,_+--------lf-------------------! Must Commit to Sharing Whole·Building Energy and D nc1 Y Water Usage Data Must Comply with Minimum Building Area to Site Area D Rt~'-1 Y Ratio ' ,., 'j;<.;,,; ,,,~·, ,,, . ,. .,,,, . ·' ., .. J,.,,,~~L t,~;, ... L ;,, c :;:;p1 ActiVlty f'OllUllOn Site Selection SSc2 E Development Density and Community Connectivity SSc3 Brownfield Redevelopment SSc4.1 E Alternative Transportation -Public Transportation Access SSc4.2 E Alternative Transportation -Bicycle Storage and Changing Rooms SSc4.3 E Alternative Transportation -Low-Emitting and Fuel- Efficient Vehicles SSc44 E Alternative Transportation -Parking Capacity SScS 1 E Site Development -Protect or Restore Habitat SScS 2 E Site Development -Maximize Open Space SSc6.1 E Stormwater Design -Quantity Control SSc6.2 E Stormwater Design -Quality Control SSc7.1 E Heat Island Effect -Nonroof SSc7.2 E Heat Island Effect -Roof SSc8 Light Pollution Reduction SSc9 Tenant Design and Construction Guidelines Sustainable Sites: lflfi:~~-~=-:::""~~. ;:~ .. ~7"."-:--· -".". WEp1 Water Use Reduction WEc1 Water Efficient Landscaping Reduce Potable by 50% = 2 points Zero Potable Water or No Irrigation = 2 p WEc2 E Innovative Wastewater Technologies WEc3 E Water Use Reduction Reduce by 30% = 2 paints Reduce by 35% = 3 points Reduce by 40% = 4 points oints Wat er Efficiency: EAp2 EAp3 EAc1 EAc2 EAc3 EAc4 EAcS.1 EAcS.2 EAc6 ·-·"" Systems Minimum Energy Performance Fundamental Refrigerant Management E Optimize Energy Performance 12% New or 8% Existing= 3 points 14% New or 10% Existing= 4 points 16% New or 12% Existing = 5 points 18% New or 14% Existing = 6 points 20% New or 16% Existing = 7 points 22% New or 18% Existing = 8 points 24% New or 20% Existing = 9 points 26% New or 22% Existing = 10 points 28% New or 24% Existing = 11 points 30% New or 26% Existing = 12 paints 32% New or 28% Existing= 13 points 34% New or 30% Existing= 14 points 36% New or 32% Existing = 15 points 38% New or 34% Existing= 16 points 40% New or 36% Existing= 17 points 42% New or 38% Existing = 18 points 44% New or 400/o Existing = 19 points 46% New or 42% Existing = 20 points E o~~Site. Rene~a'ble Energy -. 1% Renewable = 4 paints E Enhanced Commissioning Enhanced Refrigerant Management Measurement and Verification, Base Building Measurement and Verification, Tenant Submetering E Green Power Energy & Atmosphe re: D D D D D D D c D D D c D D D ·~ D D D ,,•C c D D D D c D D D c Ro~ y 1 " 5 1 v 6 ,. ' 3 ? 2 1 1 1 1 1 1 1 1 1 1 1 1 1 IL 21 > y 4 2 2 4 2 I 'lG 4 " Req y neq y Rcq y 21 7 ,, ? 2 ::~ 2 3 3 ? I :s1 11 1 confirm with civil qualifying residential dvlpmt? Available Regional Priority Credit -final verification 1 within 1/4 mile of at least 2 bus lines 2 not planned at this time: desire to add? any discussions? Staff parking in garage? EV charging stations at parking spaces? Signage for 6 spots 31 on street; 64 on lot north of bldg, 11 behind bldg; sianaae for additional 6 soots 1 green roof, planted areas as percentage of total site? Available Regional Priority Credit; confirmed no.; will not oursue green roof, pedestrian hardscape can count; verify Case 1, 2 or 3; 84,070 sf total site; 12,610 sf open space for city of omaha; 15, 763 sf LEED open space reqirement; 15,534 sf green roof: additional 6,000 sf(+/- ) open space on ground (tranformers, planters ect) case 1, option 1? Verify with civil; Available Regional Priority Credit; will follow option 1, path 1, imoerviousness of existina site needs to be verified utilizing filters at storm detention, green roof; verify with civil; storage chambers (isolator rows) used to treat stormwater. use concrete: Available Reoional Prioritv Credit veoetated roof; white roof 1 I partially dependent on exterior liohtinQ selection 1 provide guidelines for prospective tenants: sustainability goals, encourage LEED Cl, show how LEED CS contributes to Cl 2 1 4 .:• .,., >: "' : 2 enough rainwater to reduce potable water use for landscaping by 50%? Verify with civil. Potential for usina condensate from rooftao units, 0 2 treat 50% of wastewater onsite; reduce potable water used for sewaae convevance bv 50% 1 1 specify plumbing fixtures for water use reduction; need to be more aggressive than Omaha code requirements for any points to be earned 1 3 2 :""' ' " ' 0 1 1 12 energy model needed; energy saving target can inform strategies and building design 4 Not planned at this time. Owner decision. Fee for Enhanced Cx services 1orovided. 3 owner needs to commit to M&V plan; analyzing and understandina buildino oerformance 3 ~anned sub-metering of tenant spaces; need M& V plan for tenants 2 purchase REC's for 35% of bldg's electrical use; get estimate from Renewable Choice, owner decision needed. 7 3 16 LEED 2009 Core and Shell Development Project Scorecard Project Name: Project Location: Certification Goal: Date: MRc2 MRc:l MRc4 MRcfi MRc6 Aksarben Zone 8 Omaha, NE Silver 1/28/2013 Reuse -Existing Reuse = 1 point Reuse 33% = 2 points Reuse 42% = 3 points Reuse 50% = 4 points Reuse 75% = 5 ooints E Construction Waste Management 50% Recycled I Salvaged = 1 point 75% Recycled I Salvaged = 2 points E Materials Reuse E Recycled Content 10% of Content = 1 point 20% of Content = 2 points E Regional Materials 10% of Materials = 1 point 20% of Materials = 2 points E Certified Wood Materials .·· i nd Roof & Resources: (,.) i3 ., . D c c c c c c Req ,, ~' I ? ? 1 I 13 y 2 2 2 6 1 1 0 0 z 5 1 6 Notes '' Not applicable contractor to document Not aoolicable specify materials with recycled content specify materials extracted, manufactured regionally; within 500 miles How much wood to be used? 50% of wood specified to be FSC for credit, EP for 95%; more wood = more challenging ···~f .. '•.'. ···--•,/•-"·-•,·"··-··· .• ,_;;_·_, .;¥ " EQc2 EQc3 EQc4.1 EQc4.2 EQc4.3 EQc4.4 EQc5 EQc6 EQc7 EQcB 1 EQcB.2 1Dc1.2 1Dc1.3 1Dc1.4 1Dc1.5 1Dc2 E E Minimum 1naoor Air uua111y "' •v•, ""' '"" Environmental Tobacco (ETS) Control Outdoor Air Delivery Monitoring Increased Ventilation Construction Indoor Air Quality Management Plan - During Construction Low-Emitting Materials -Adhesives and Sealants Low-Emitting Materials -Paints and Coatings Low-Emitting Materials -Flooring Systems Low-Emitting Materials -Composite Wood and Agrifiber Products Indoor Chemical and Pollutant Source Control Controllability of Systems -Thermal Comfort Thermal Comfort -Design Daylight and Views -Daylight Daylight and Views -Views Indoor Environmental Quality: Innovation or Exemplary Performance Innovation or Exemplary Performance Innovation Innovation LEED® Accredited Professional Innovation & Design: ~~::~-::-:':"'."-"'.'"~ -:7-:z RPc1.1 Regional Priority 1: SSc2 RPc1.2 Reg'>onal Priority2: EQcB.1 RPc1 .3 Regional Priority 3: SSc6.1 RPc1 .4 Regional Priority 4: SSc7.1 RPx Regional Priority x: EQc2 RPx Regional Priority x: SSc5.1 D D D D c c c c c D D D D D CID CID CID CID CID I Ne>q y F;t;q y 1 1 1 1 1 1 1 1 1 1 1 1 1 l 1 1 1 1 i? 6 1 need C02 monitors; outdoor airflow monitors 1 increase outdoor air requirements by 30% (ASHRAE 62.1 -2007) for occupied spaces; can affect energy use; available Reoional Prioritv Credit contractor to document contractor to document contractor to document contractor to document contractor to document 1 walk off mats; MERV 13 filters; exhaust designated soaces 1 more difficult to meet with open office spaces; evaluate if can provide control for 50% of building occupants as specified -air temp, radiant temp, humidity, air speed. 1 need daylight analysis during design to determine if achievable; available Regional Priority Credit; HOR calculations needed 1 need daylight analysis during design to determine lf achievable; HOR calculations needed 2 1 3 ,-.,,....,....,..-;-....,.4--t_,,,.-i--.,.-;------------------~ ~)!·_,_h,f;IT~J"'.·,:i:"' h_,,.>, D 1 D t-~+--o-'-t---t-~r-------------------1 D c D c Regional Priority:~ 1_'·_._._~-'--..... ..-~~__, LEED 2009 Core and Shell Development Project Scorecard Project Name: Project Location: Certification Goal: Date: 5 6 SSc3 SSc4.1 SSc4.2 SSc4.3 SSc4.4 SSc5.1 SSc5.2 SSc6.1 SSc6.2 SSc7.1 SSc7.2 SSc8 SSc9 WEc2 WEc3 EAp2 EAp3 EAc1 EAc2 EAc3 EAc4 EAc5.1 EAc5.2 EAc6 Aksarben Zone 8 Omaha, NE Silver 112812013 Must be a Permanent Building or Space Must Use a Reasonable Site Boundary Must Comply with Minimum Floor Area Requirements Must Comply with Minimum Occupancy Rates Must Commit to Sharing Whole-Building Energy and Water Usage Data Must Comply with Minimum Building Area to Site Area Ratio Brownfield Redevelopment E Alternative Transportation -Public Transportation Access E Alternative Transportation -Bicycle Storage and Changing Rooms E Alternative Transportation -Low-Emitting and Fuel- Efficient Vehicles E Alternative Transportation -Parking Capacity E Site Development -Protect or Restore Habitat E Site Development -Maximize Open Space E Stormwater Design -Quantity Control E Stormwater Design -Quality Control Heat Island Effect -Nonroof Heat Island Effect -Roof Light Pollution Reduction Tenant Design and Construction Guidelines Water Efficient Landscaping Reduce Potable by 50% = 2 points Sustainable Site Zero Potable Water or No Irrigation = 2 points E Innovative Wastewater Technologies E Water Use Reduction Reduce by 30% = 2 points Reduce by 35% = 3 points Reduce by 40% = 4 points s: Water Efficiency: Systems Minimum Energy Performance Fundamental Refrigerant Management E Optimize Energy Performance 12% New or 8% Existing = 3 points 14% New or 10% Existing= 4 points 16% New or 12% Existing= 5points 18% New or 14% Existing = 6 points 20% New or 16% Existing = 7 points 22% New or 18% Existing= Bpoints 24% New or 20% Existing = 9 points 26% New or 22% Existing = 10 points 28% New or 24% Existing= 11 points 30% New or 26% Existing = 12 points 32% New or 28% Existing = 13 points 34% New or 30% Existing = 14 points 36% New or 32% Existing= 15 points 38% New or 34% Existing= 16 points 40% New or 36% Existing= 17 points 42% New or 38% Existing= 18 points 44% New or 40% Existing = 19 points 46% New or 42% Existing = 20 points E o~:Site. Renew'a"bi~ Energy 1% Renewable= 4 points E Enhanced Commissioning Enhanced Refrigerant Management Measurement and Verification, Base Building Measurement and Verification, Tenant Subme tering E Green Power Energy &Atm osphere: <J a " D D D D D D D ',:° D D D D D D D c D D D c D D D D D D D D D D c D D D c 0 2:-c 0 .l! "i5 ~ 0 0. :;; z Notes Roq y R.c:q y R,o.~ y Req y y f-=?.£'•\ y F\:"q y ',,--· '"'° R(;(J y 1 1 confirm with civil 5 5 qualifying residential dvlpmt? Available Regional Priority Credit -final verification 1 1 ,-6 within 1/4 mile of at least 2 bus lines ' 2 not planned at this time; desire to add? 3 3 any discussions? Staff parking in garage? EV charging stations at parking spaces? Signage for 6 spots " 2 31 on street; 64 on lot north of bldg, 11 behind bldg; siqnaqe for additional 6 spots 1 1 green roof, planted areas as percentage of total site? Available Regional Priority Credit; confirmed no.; will not loursue 1 1 green roof, pedestrian hardscape can count; verify Case 1, 2 or 3; 84,070 sf total site; 12,610 sf open space for city of omaha; 15, 763 sf LEED open space reqirement; 15,534 sf green roof: additional 6,000 sf(+/- ) open space on ground (tranformers, planters ect) I 1 case 1, option 1? Verify with civil; Available Regional Priority Credit: will follow option 1, path 1, imoerviousness of existina site needs to be verified I 1 utilizing filters at storm detention, green roof; verify with civil; storage chambers (isolator rows) used to treat stormwater. I 1 use concrete: Available Reoional Prioritv Credit 1 1 veaetated roof: white roof 1 1 loartiallv deoendent on exterior liohtino selection 1 1 provide guidelines for prospective tenants; sustainability goals, encourage LEED Cl, show how LEED CS contributes to Cl I<:, 21 2 1 4 Req t---,y;----,1-----.----:::--r~-1-~-,---,....-,--,---,~---.,....,..,,.-~,.-~-,-~---1 2 2 enough rainwater to reduce potable water use for $ I 10 4 ·" Req y F~eq y f\€'1 y 21 7 1 1 ,, " 2 2 2 3 3 3 3 2 2 I -:-, 11 7 3 landscaping by 50%? Verify with civil. Potential for usinq condensate from rooftop units, 2 treat 50% of wastewater onsite; reduce potable water used for sewaqe conveyance by 50% ' '" 12 4 16 specify plumbing fixtures for water use reduction; need to be more aggressive than Omaha code requirements for any points to be earned " ,, .. ,. '" ' > energy model needed; energy saving target can inform strategies and building design Not planned at this time. Owner decision. Fee for Enhanced Cx services lorovided. owner needs lo commit to M&V plan; analyzing and understandino buildina performance planned sub-metering of tenant spaces: need M&V plan for tenants purchase REC's for 35% of bldg's electrical use; get estimate from Renewable Choice, owner decision needed. LEED 2009 Core and Shell Development Project Scorecard Project Name: Aksarben Zone 8 Project Location: Omaha, NE Certification Goal: Silver Date: 1/28/2013 Reuse -Existing = 1 point Reuse 33% = 2 points Reuse 42% = 3 points Reuse 50% = 4 points Reuse 75% = 5 ooints MRc2. E Construction Waste Management 50% Recycled I Salvaged = 1 point 75% Recycled I Salvaged= 2 points MRc3 E Materials Reuse MRc4 E Recycled Content 10% of Content = 1 point 20% of Content = 2 points MRc5 E Regional Materials 10% of Materials = 1 point 20% of Materials = 2 points MRc6 E Certified Wood Materials & Resources: ~,;;;;,;;,;;;c:L~i2:7::2-::::~·~7,·· "':''. EQp1 Minimum Indoor Air Quality Performance EQp2 Environmental Tobacco Smoke (ETS) Control EQc 1 Outdoor Air Delivery Monitoring EQc2 Increased Ventilation EQc3 EQc4.1 EQc4.2 EQc4.3 EQc4.4 EQc5 EQc6 EQc7 EQc8.1 EQc8.2 1Dc1.:1 1Dc1.3 1Dc1.4 1Dc1.5 1Dc2 Construction Indoor Air Quality Management Plan - During Construction Low-Emitting Materials -Adhesives and Sealants Low-Emitting Materials -Paints and Coatings Low-Emitting Materials -Flooring Systems Low-Emitting Materials -Composite Wood and Agrifiber Products Indoor Chemical and Pollutant Source Control Controllability of Systems -Thermal Comfort Thermal Comfort -Design E Daylight and Views -Daylight E Daylight and Views -Views Indoor Environmental Qua Innovation or Exemplary Performance Innovation or Exemplary Performance Innovation Innovation LEED® Accredited Professional lity: Innovation & Design: ~ c c c c c D D D D c c c c c D D D D D CID CID CID CID CID -E ,., 0 m ]! a. ;!. :i y 'i:' ' Roq y r:oq y 1 1 1 1 1 1 I 1 1 1 I 1 1 1 1 1 1 1 1 1 I ·i; 6 2 0 z ,, 1 1 1 1 1 3 Notes Not applicable contractor to document Not a Hcable specify materials with recycled content specify materials extracted, manufactured regionally; within 500 miles How much wood to be used? 50% of wood specified to be FSC for credit, EP for 95%; more wood= more challenging .- need C02 monitors; outdoor airflow monitors increase outdoor air requirements by 30% (ASH RAE 62.1 -2007) for occupied spaces; can affect energy use; available Reqional Prioritv Credit contractor to document contractor to document contractor to document contractor to document contractor to document walk off mats; MERV 13 filters; exhaust designated so aces more difficult to meet with open office spaces; evaluate if can provide control for 50% of building occupants as specified -air temp, radiant temp, humidity, air speed. need daylight analysis during design to determine if achievable; available Regional Priority Credit; HOR calculations needed need daylight analysis during design to determine if achievable; HOR calculations needed r--.--t--:--t---:-4-t-.,,.-t-.,-;-----------------~ r·~i ~----:,1·'··~1.f--·-';_,-+·1·-·"_"_·'_· 1 ... '·_·,_··_>+11··_1_·_·1·· ___ ._'_;_ .. __ ·_._··_'•_J_c_11_'"'_s_·J2_·_t._Ji_.,_"_ ... _._·_---t RPx Regional Priority x: EQc2 O f-· --t---1----t----'1-~-+---------------------1 RPx Regional Priority x: SSc5.1 C ~--+--+--1--1--,;,,1-j.------------------' Regional Priority: 0 LEED 2009 Core and Shell Development Project Scorecard Aksarben Zone 8 LEED 2009 Core and Shell Development y u N y u N -y Prereq 1 Construction Activity Pollution Prevention 1 Credit 1 Site Selection 5 Credit2 E Development Density & Community Connectivity 1 Credit 3 Brownfield Redevelopment 6 Credit4.1 E Alternative Transportation, Public Transportation Access 2 Credit 4.2 E Alternative Transportation, Bicycle Storage & Changing Rooms 3 Credit 4.3 E Alternative Transportation, Low Emitting & Fuel Efficient Vehicles 2 Credit 4.4 E Alternative Transportation, Parking Capacity 1 Credit5.1 E Site Development, Protect or Restore Open Space 1 Credit 5.2 E Site Development, Maximize Open Space 1 Credit6.1 E Stormwater Design, Quantity Control 1 Credit 6.2 E Stormwater Design, Quality Control 1 Credit 7.1 E Heat Island Effect, Non-Roof 1 Credit 7.2 E Heat Island Effect, Roof 1 Credits Light Pollution Reduction 1 Credit 9 Tenant Design and Construction Guidelines y u N y Prereq 1 Water Use Reduction, 20% Reduction 2 2 Credit 1 Water Efficient Landscaping 2 Credit2 E Innovative Wastewater Technologies 2 1 1 Credit 3 E Water Use Reduction, Reduce by 30, 35 or 40% y u N y Prereq 1 Fundamental Commissioning of the Building Energy Systems y Prereq 2 Minimum Energy Performance y Prereq 3 Fundamental Refrigerant Management 7 1 1 12 Credit 1 E Optimize Energy Performance,% beyond ASHRAE 90.1-2007 4 Credit2 E On-Site Renewable Energy, 4% of total building demand 2 Credit 3 E Enhanced Commissioning 2 Credit4 Enhanced Refrigerant Management 3 Credit5.1 Measurement and Verification, Base Building 3 Credit 5.2 Measurement and Verification, Tenant Submetering 2 Credit 6 E Green Power y u N -y Prereq 1 Storage & Collection of Recyclables 5 Credit 1 Building Reuse -Existing Walls, Floors and Roof 2 Credit2 E Construction Waste Management, Divert 50 or 75% from Disposal 1 Credit3 E Materials Reuse 2 Credit4 E Recycled Content: 10% or 20% 2 Credit 5 E Regional Materials: 10% or 20% 1 Credit6 E Certified Wood 1 5 1 6 2 3 2 1 1 1 1 1 1 1 1 4 2 4 21 4 2 2 3 3 2 5 2 1 2 2 1 fil~ Preliminary Scorecard -1/28/2013 y u N y Prereq 1 Minimum IAQ Performance y Prereq 2 Environmental Tobacco Smoke (ETS) Control 1 Credit 1 Outside Air Delivery Monitoring 1 1 Credit2 Increased Ventilation 1 1 Credit 3 Construction IAQ Management Plan, During Construction 1 1 Credit4.1 Low-Emitting Materials, Adhesives & Sealants 1 1 Credit4.2 Low-Emitting Materials, Paints & Coatings 1 1 Credit4.3 Low-Emitting Materials, Flooring Systems 1 1 Credit 4.4 Low-Emitting Materials, Composite Wood & Agrifiber Products 1 1 Credits Indoor Chemical & Pollutant Source Control 1 1 Credit6 Controllability of Systems, Thermal Comfort 1 1 Credit 7 Thermal Comfort, Design 1 1 Credit8.1 E Daylight & Views, Daylight 1 1 Credit 8.2 E Daylight & Views, Views 1 y u N 1 Credit 1.1 Innovation or Exemplary Performance 1 1 Credit 1.2 Innovation or Exemplary Performance 1 1 Credit 1.3 Innovation or Exemplary Performance 1 1 Credit 1.4 Innovation 1 1 Credit 1.5 Innovation 1 1 Credit2 LEED® Accredited Professional 1 y u N 1 Credit 1.1 Regional Priority 1: SSc2 1 1 Credit 1.2 Regional Priority 2: EQc8.1 1 1 Credit 1.3 Regional Priority 3: SSc6.1 1 1 Credit 1.4 Regional Priority 4: SSc7.1 1 y u N Certified: 40-49 points Silver: 50-59 points Gold: 60-79 points Platinum: 80+ points Yellow Cells= Regional Priority Eligible Credits= Zip Code 68106 E = Exemplary Performance possible for an Innovation & Design credit This checklist is based on the project team's best estimate of LEED credit attainment given the current proposed design and information provided by the owner. Credit attaiment is ultimately decided by the Green Building Certification Institute. Credits and points may move from Yes to Likely or Unlikely or No throughout the design and construction process. The goal is to meet the owner's LEED target using a degree of skill and care normally exercised by members of the profession involved in the design of similar projects at the same time and in the same locale as the Project. X. Cost-Benefit Analysis 1. Tax shifts resulting from granting of tax incentives: This project will create an entirely new tax base with no resulting tax shifts. 2. Public infrastructure and community public service needs impacts and local tax impacts arising from projects receiving incentives: This project will provide new public infrastructure such as parking, sidewalks, lighting and landscaping immediately adjacent to the site. The extensive use of TIF funding has also supported the construction of over $15 million in new infrastructure within the broader redevelopment area. The project will also benefit public service needs by providing employment opportunities in the Aksarben Village neighborhood. Over the long term, it will provide additional local property and sales tax revenues. 3. Impacts on employers and employees of firms receiving tax incentives: During development and construction, Tax Increment Financing incentives will create opportunities for the employers and employees involved in this project benefitting development, financing, design, construction and property management industries. Upon completion, Tax Increment Financing incentives will potentially support the retention of 230 FTE employee positions and the creation of 54 new FTE employment opportunities. 4. Impacts on those Nebraska employers and employees not receiving direct incentives or benefits: This project will stimulate economic activity through the creation of jobs which will have an indirect benefit on Nebraska employers and employees not receiving direct incentives or benefits. For example, the project's construction workers and material suppliers will likely support restaurants and other Aksarben Village commercial establishments during the construction period. Following construction, the corporation's employees and clients will create a similar effect. 5. Any other impacts relevant to the consideration of costs and benefits arising from the tax incentive program: This project will help to further develop the Aksarben Village Redevelopment Area and be a catalyst for the development of underutilized areas south and west of Center Street and the expanding University of Nebraska at Omaha campus. XI. Organizational Documentation A. Waitt Aksarben 8, LLC B. Waitt Real Estate, LLC -provided upon request C. Noddle Zone 8, LLC -provided upon request CERTIFICATE OF ORGANIZATION OF WAITT AKSARBEN 8, LLC ARTICLE 1 NAME I Uliii ~ili'ililf liili liiti 1i1\ii11f liil 1001127885 Pgs: 1 WAITT AKSARBEN B, LLC Filed: 03/15/2012 12:57 PM The name of this limited liability company is Waitt Aksarben 8, LLC (the "Companyn). ARTICLE 2 DESIGNATED OFFICE The Company's designated office in Nebraska is 1125 South 103n1 Street, Suite 425,. Omaha, Nebraska 68124. ARTICLE 3 REGISTE~ED AGENT The name of the r,istered agent of the Company is John S. Schuele, whose mailing address is 1125 South 103 Street, Suite 425, Omaha, Nebraska 68124. IN WITNESS WHEREOF, this Certificate of Organization has been executed by the undersigned, in duplicate, effective as ofthe..,..~--:,,..°jfl~a-y-=-rf ...... MM--~a-irri--:cnh_,. __ ~2=u0=-11;2_. ________ _ B~r 635278.1 STATE OF NEBRASKA+ SECRETARY OF~TATE'S OFFICE 1445 "K" STR~· STATE CAPITOL SUITE 1301 ,--~~NCOLN, NE • 68509 BUSINESS SERVICES DIVISION CORPORATIONS P.O. BOX 94608 (402) 471-4079 FAX: 471-3666 JOHNA.GALE Secretary of State KOLBY JESSEN P.C., LLO. ATIN: LORI A. MARCO UNIFORM COMMERCIAL CODE P.O. BQX 95104 (402) 471-4-080 FAX: 47i-4429 www.sos.state.ne. us ONE PACIFIC PLACE, SUITE 800 1125SOUTH103RD STREET OMAHA, NE 68124 March 15, 2012 NQTARY P.O. BOX 95104 (402) 471-2558 FAX: 471-4429 JUDYJOBMAN Deputy Secretary of State ACKN"OWLEDGEMENT OF FILING The document(s) listed below were filed with the Nebraska Secretary of State's Office, Corporation Division. A label has been affixed to each filing signifying the filing stamp for the Nebraska Secretary of State's Office, Co:i:pora:fion Division. This filing label indicates the date and time of the filing and also references a document number that can be used to reference this filing in the future. Please remember it is yout responsibility to notify the Secretary of State's office of any change(s) in the information you filed. Action/Service Certificate of Omanization Per Pai:ze Chare:e Certificate of Ori:ranization Per Piwe Cham-e Certificate of OIP:anization Per P:we Charge Paige Deppe Filing Officer ACKNOWLEDGEMENTOFFILINGFEESRECEIVED Company /Entitv Name Fee Received WAIIT AKSARBEN 9, ILC 100.00 WAIIT AKSARBEN 9, ILC 5.00 WAIIT AKSARBEN 8, ILC 100.00 WAITT AKSARBEN 8, ILC 5.00 WAIIT AKSARBEN 6, ILC 100.0Q WAIIT AKSARBEN 6, ILC 5.00 Total Fees Received $315.00 XII. Attachments -Access to Financial Information February 25, 2013 Mr. Paul Kratz, City Attorney Omaha/Douglas Civic Center 1819 Farnam Street, Suite 804 Omaha, NE 68131 NODDLE COMPANIES@ Re: Tax Increment Financing Financial Statement Exhibit Aksarben Village Zone 8 -Gordmans Corporate Headquarters 1904 South 671h Street Omaha, Nebraska Dear Mr. Kratz: This letter is in response to the requested financial statements for Waitt Aksarben 8, LLC as part of its application for Tax Increment Financing for a proposed Aksarben Village Zone 8 - Gordmans Corporate Headquarters project to be located at 1904 South 67'h Street, Omaha, Nebraska. Waitt Aksarben 8, LLC is a single-purpose entity formed to develop and own this project. This entity is privately held, however access to financial information for this entity will be permitted to the City at the entity office located al 1125 South 103rd Street, Suite 425, Omaha, Nebraska 68124. As a condition to such disclosure, the City of Omaha agrees that it will not disclose, communicate or reveal to any other person, firm or corporation, and will not use any financial information, directly or indirectly, for any purpose other than to consider the proposed business relationship, without the prior written consent of Waitt Aksarben 8, LLC. If you should have any questions or concerns regarding this matter, please feel free to contact me. 2285 S. 67~h Street . Suite 250 . Omaha, NE 68106 I 402.496.1616 I 402.496.6250 fax noddlecompanies.com Cha.irperson Board of Commissioners Douglas County LC2 Civic Center 1819 Farnam Street Omaha. NE 68183-0001 Chairperson Omaha Public Schools 3215 C urning 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 154 1h 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 C urning Street Omaha, NE 68102 Chairperson Omaha/Douglas Public Building Commission /\A.Al LING LI ST R ECCIYE D __ __,.;.l/_-_l_c_)_-_1_3 __ _ RECEIVED BY r~1 NE MAILf:D City of Omalia, :Ne6raskg Buster Brown City Clerk 1819 Farnam -Suite LC 1 Omaha, Nebraska 68183-0112 (402) 444-5550 FAX (402) 444-5263 "NOTICE TO TAXING AUTHORITY" Notice is hereby given that the Omaha City Council has set Tuesday, May 21, 2013 at 2:00 p.m. as the date of Public Hearing on the Aksarben Village Zone 8 - Gordmans Tax Increment Financing Redevelopment Project Plan. This project proposes to construct a new, mixed-use building with approximately 117,000 gross square feet -36,000 rentable square feet of retail space and 70,500 rentable square feet of Class A commercial office space located at 1904 South 6th Street. Gordmans is an Omaha based apparel and home fashions retailer that will relocate its national headquarters to a vacant site within the developing Aksarben Village neighborhood, fulfilling a long-held community vision to use and re-purpose the vacant urban land. TIF in an amount up to $3,587,000.00 will be used to offset the costs of acquisition, site work, engineering fees and surveys, utilities and any public improvements. In addition, $1,215,000.00 in TIF proceeds will be contributed by the developer to the Aksarben Village Infrastructure Escrow Account to pay the projects pro rata share of the overall public infrastructure costs for the Village area. The estimated total project cost is $29,496, 135.00, but is subject to change as final costs come in. 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 CASE: C3-13-083 APPLICANT: Planning Department on behalf of the City of Omaha REQUEST: Approval of the AKSARBEN VILLAGE ZONE 8 -GORDMANS TIF REDEVELOPMENT PROJECT PLAN LOCATION: 1904 South 67th Street SUBJECT AREA IS SHADED -APRIL 2013 MU 7 .-..... ......... ...._.__._......,,__ __ __.._..._.. ..................... L-ILJ .............. -v11: •••••••••••••••••••• ., MU --P-me-St--+------· ·· · · -----· • • ,.......__.""*jl........,.,....-.------------,..... ................ ....., I MU ' . \ I \ I \MU-FF I ~ ' ~ ' ~ ' ~.. ' ...... _J 0 l MU Feet MU MU MU-FF N 1, 100 A 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 redevelopment project site located at 1904 South 67th Street is within a designated community redevelopment area, as the area meets the definition of blighted and substandard per the Community Development law and is in need of redevelopment; and, WHEREAS, the Aksarben Village Zone 8 -Gordmans Tax Increment Financing (TIF) Redevelopment Project Plan was approved by the TIF Committee and subsequently, by the City of Omaha Planning Board at their April 3, 2013 meeting; and, WHEREAS, the project site for Aksarben Village Zone 8 -Gordmans Tax Increment Financing (TIF) Redevelopment Project Plan is located at 1904 South 67th Street and is legally described in Exhibit "A" which is attached hereto and herein incorporated by reference; and, WHEREAS, the Aksarben Village Zone 8 -Gordmans Tax Increment Financing (TIF) Redevelopment Project Plan which contemplates the construction of a new, mixed-use building with approximately 117 ,000 gross square foot -36,000 rentable square feet of retail space and 70,500 rentable square feet of Class A commercial office space as described in Exhibit "B" attached hereto and herein incorporated by reference; and, WHEREAS, the Aksarben Village Zone 8 -Gordmans Tax Increment Financing (TIF) Redevelopment Project Plan recommends City's participation in the redevelopment of this project site through the allocation of TIF in an amount up to $3,587,000.00 to offset costs such as acquisition, site work, engineering fees and surveys, utilities and any public improvements, in addition to $1,215,000.00 in TIF proceeds contributed by the developer to the Aksarben Village Infrastructure Escrow Account to pay the projects pro rata share of the overall public infrastructure costs for the Village area; and, WHEREAS, the Plan presents a project based on estimated figures and projections that are subject to change as project costs are finalized, and is required to comply with all Planning Department requirements and Planning Board recommendations; and, By ........................................................................................ . Councilmember Adopted ......................................................................... . City Clerk Approved .............................................................. . Mayor 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 for a period not to exceed fifteen years under Sections 18-2147 through 18-2150, Revised Statutes ofNebraska; and, NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF OMAHA: THAT, the attached Aksarben Village Zone 8 -Gordmans Tax Increment Financing (TIF) Redevelopment Project Plan for the redevelopment project site located at 1904 South 67th Street which contemplates the construction of a new, mixed-use building with approximately 117,000 gross square foot -36,000 rentable square feet of retail space and 70,500 rentable square feet of Class A commercial office space; recommending the City's participation through the allocation of TIF in an amount up to $3,587,000.00 to offset costs such as acquisition, site work, engineering fees and surveys, utilities and any public improvements, in addition to $1,215,000.00 in TIF proceeds contributed by the developer to the Aksarben Village Infrastructure Escrow Account to pay the projects pro rata share of the overall public infrastructure costs for the Village area, but is subject to change as final costs come in; containing a provision for the division of ad valorem taxes under Section 18-214 7 through 18- 2150, Revised Statutes of Nebraska, as recommended by the City Planning Department, be and hereby is approved. 1840 dlh / N0 ........ 5.F.I ................. Resolution by ................................................... . Res. that, the attached Aksarben Village Zone 8 -Gordmans Tax Increment Financing (TIF) Redevelopment Project Plan for the redevelopment project site located at 1904 South 67th Street which contemplates the construction of a new, mixed-use building with approximately 117,000 gross square foot -36,000 rentable square feet of retail space and 70,500 rentable square feet of Class A commercial office space; recommending the City's participation through the allocation of TIF in an amount up to $3,587,000.00 to offset costs such as acquisition, site work, engineering fees and surveys, utilities and any public improvements, in addition to $1,215,000.00 in TIF proceeds contributed by the developer to the Aksarben Village Infrastructure Escrow Account to pay the projects pro rata share of the overall public infrastructure costs for the Village area, but is subject to change as final costs come in; containing a provision for the division of ad valorem taxes under Section) 8-214 7 through ,/ ./'' ,/ Presented to City Council 18-2150, Revised Statutes of Nebraska, as recommended by the City Planning Department, be and hereby is approved. 1840 dlh ..... 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