ORD 41290 - West Farnam Apartments TIF redevelopment project plan of°"` ^'Fe,� 1 L.. t.: L. ; V �- 1-) Planning Department
6 ``�� ?; Omaha/Douglas Civic Center
17r1"4''�`a,,,'��' {gypp, �{p�, g { @ 1819 Farnam Street,Suite 1100
k ,i:'4,,, n 28 d 1 Ok F —6 P 1��+. 9
z ( ��, e h OCT Omaha,Nebraska 68183
C, . p,Ill"{I��,.%m�ro
o, , �;:~ (402)444-5150
�A �~ Telefax(402)444-6140
oq 4 , yam; uu
�T�'DFEBtIV� � ' i L, �,_ ,i1
i
City of Omaha ' �'s.:_ ;. �.
David K.Fanslau
Director
Jean Stothert,Mayor
October 17, 2017
Honorable President
and Members of the City Council,
The attached Ordinance transmits a Tax Increment Financing (TIF) Redevelopment Loan
Agreement between 3817 Dewey LLC and the City of.Omaha for a redevelopment site located
at 3817 Dewey Avenue. This Redevelopment Agreement implements the West Farnam
Apartments Tax Increment Financing (TIF) Redevelopment Project Plan, which proposes a
comprehensive rehabilitation of a historic 1912 apartment building located in the Blackstone
neighborhood near the University of Nebraska Medical Center.
The Redevelopment Agreement authorizes the City's participation in the redevelopment by
providing up to $340,000.00 to offset TIF eligible expenses for acquisition costs, building
rehabilitation; architectural and engineering fees and public improvements as required. The total
estimated project costs are $2,930,000.00, but are subject to change as final costs come in. .
Your favorable consideration of this Ordinance will be appreciated.
Respectfully submitted, Approved:
))vAY'Itilitili '1 i•ton q-Z-, •
David K. Fanslau-d Date Robert G. Stubbe, P.E. Date
Planning Director Public Works Director
Approved: Referred to City Council for Consideration:
7/
/11/1/......- et.,.///t-1 2,4 )/ -11-1.*"... S t45-aAVE.- VI-N/7
Step en B. Curtiss Date Mayor's Office Date
Finance Director -T1-
2583 dlh
•
ORDINANCE NO. 410740
AN ORDINANCE approving a redevelopment and tax increment financing loan agreement
between the City of Omaha, a Nebraska Municipal Corporation in Douglas County,
Nebraska, and 3817 Dewey LLC; a Nebraska limited liability company, to implement the
West Farnam Apartments Tax Increment Financing (TIF) Redevelopment Project Plan
for a project site located at 3817 Dewey Avenue, which proposes a comprehensive
rehabilitation of a historic 1912 apartment building located in the Blackstone
neighborhood near the University of Nebraska Medical Center; the agreement
authorizes the use of up to $340,000.00 in excess ad valorem taxes (TIF) generated by
the development to help fund the cost of the project; and providing for an effective date.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF OMAHA;
Section 1. The Mayor is hereby authorized to execute, and the City Clerk to attest, the
attached Redevelopment Agreement between the City of Omaha and 3817 Dewey LLC, a
Nebraska limited liability company, to authorize the use of up to $340,000.00 in TIF that will be
used to offset TIF eligible expenses for acquisition costs, building rehabilitation, architectural
and engineering fees and public improvements as required, for a project with total estimated
costs of $2,930,000.00, in addition to any other documents necessary or appropriate to
implement the Redevelopment Agreement or to consummate the loan.
Section 2. Said Redevelopment Agreement contains obligations undertaken pursuant to
the Nebraska Community Development Law and Sections 18-2147 through 18-2150, and, are
not otherwise obligations of the City of Omaha.
ORDINANCE NO. 111.0Z,96
PAGE TWO
Section 3. This Ordinance shall be in full force and take effect fifteen (15) days from and
after the date of its passage.
INTRODUCED BY COUNCILMEMBER:
,�/• APPROVED BY:
,Lek_ 111V19--
MAYOR OF THE CITY OF OMAHA . DATE
PASSED OCT 3 1 20171
ATTEST: .
1� 12
City k City of Omaha DATE
APPROVED AS TO FORM:
,/Zi/n
ASSI NT CI ATTO EY DATE
2583 dlh
REDEVELOPMENT AGREEMENT
THIS AGREEMENT is entered into by and between the City of Omaha, a Nebraska
Municipal Corporation in Douglas County,Nebraska, and 3817 Dewey LLC, a Nebraska limited
liability company.
RECITALS:
WHEREAS, on August 29, 2017 by Resolution No. 948, the City Council of the City of
Omaha approved the West Famam Apartments Tax Increment Financing (TIF).Redevelopment
Project Plan for a project located at 3817 Dewey Avenue, a comprehensive rehabilitation of a
historic 1912 apartment building located in the Blackstone neighborhood near the University of
Nebraska Medical Center as shown in Exhibit "A", which is attached hereto and made a part
hereof; and,
WHEREAS,the West Farnam Apartments.Tax Increment Financing(TIF)Redevelopment
Project Plan recommends allowing up to$340,000.00 in TIF to offset eligible expenses,as allowed
by the Community Redevelopment Law,for acquisition costs,building rehabilitation,architectural
and engineering fees and public improvements as required,for a project with total estimated costs
of$2,930,000.00; and,
WHEREAS, this Agreement is a redevelopment agreement prepared pursuant to the
Nebraska Community Development Law in order to implement the above-referenced
Redevelopment Plan, and contemplates the use of the excess ad valorem taxes generated by such
development.
IN CONSIDERATION OF THESE MUTUAL COVENANTS, THE PARTIES AGREE
AS FOLLOWS:
SECTION 1. DEFINITIONS
-1 •
-
The following terms, whether plural or singular, shall have the following meanings for
purposes of this Agreement.
1.1 "Base Year" and"Base Year Valuation" shall mean the year prior to the calendar
year that the division of the property tax levied on the Redevelopment Site is to
become effective. It is established by the Notice to Divide Tax for Community
Redevelopment Project("Notice to Divide") form prepared by the City of Omaha,
which establishes the valuation for the base amount and the calendar year that
division of real property tax levied is to become effective. For purposes of this
Agreement, the parties agree the Base Year and associated Base Year Valuation
shall be established on January 1,2017.
1.2 "City" shall mean the City of Omaha, Nebraska, a Municipal Corporation of the
metropolitan class or such successor entity lawfully established pursuant to the
applicable provision of the Nebraska Community Development Law.
1.3 "Community Redevelopment Law" shall mean the Community Redevelopment
Law of the State of Nebraska(Chapter 18, Article 21, Sections 18-2101, et. seq.),
as supplemented by and including Sections 18-2147 to 18-2153, Reissue Revised
Statues of Nebraska, 1943, as amended.
1.4 "Director" shall mean the Director of the City of Omaha Planning Department.
1.5 "Division Date"shall mean the agreed upon date after which any ad valorem real
estate taxes levied upon the Redevelopment Site shall be divided by the Douglas
• County Assessor pursuant to the Community Redevelopment Law and the Notice
to Divide. For purposes of this Agreement,the parties agree the Division Date
shall be January 1,2018.
1.6 "Excess ad valorem Taxes"shall mean any ad valorem real estate tax levied upon
and generated by the real property in the Redevelopment Site after the Division
Date (at the rate fixed each year by or for each of the hereinafter defined public
bodies)by or for the benefit of the State of Nebraska,the City, and any board,
commission, authority, district or any other political subdivision or public body of
the Sate of Nebraska(collectively"public bodies") in excess of any ad valorem
real estate tax generated by the levy on the Base Year Valuation.
•
1.7 "Owner" shall mean 3817 Dewey LLC.
1.8 "Redevelopment Promissory Note" or"Note" shall mean any obligation issued by
the City in the form of Exhibit "B" attached hereto and incorporated herein by
reference, which shall be in the principal amount set forth in such Exhibit
("Redevelopment Loan Proceeds") and which shall be repaid from and secured by
-2-
the Excess ad valorem Taxes generated by the real property within the
Redevelopment Site.
1.9 "Redevelopment Plan" shall mean the West Farnam Apartments Tax Increment
Financing Redevelopment Project Plan approved by the City Council of the City of
Omaha on August 29, 2017 by Resolution No. 948.
1.10 "Redevelopment Project"shall mean the comprehensive rehabilitation of a historic
1912 apartment building located in the Blackstone neighborhood near the
University of Nebraska Medical Center as shown,according to the Redevelopment
Plan and as shown on the Site Plan attached hereto as Exhibit"A"and incorporated
herein.
1.11 "Redevelopment Site" shall mean the real property legally described on Exhibit
"C", attached hereto and incorporated herein.
SECTION 2. OBLIGATIONS OF THE CITY
The City shall:
2.1 execute and deliver to the Owner at closing the Redevelopment Promissory Note
in substantially the same form as that which is attached hereto as Exhibit"B".
2.2 grant Redevelopment Loan Proceeds for TIF eligible expenses, including any
public improvements,to the Owner in an amount not to exceed$340,000.00.
2.3 establish a special fund, as required under Section 18-2147(b) of the Nebraska
Revised Statutes, for the Excess ad valorem Taxes, if any, generated by the
Redevelopment Project and the Redevelopment Site, which shall be allocated to
and, when collected, paid into this special fund, and shall be used for no other
purpose than to pay debt retirement principal and interest as required by the
Redevelopment Promissory Note. Interest on monies in the special fund shall
accrue first to debt retirement interest and then to principal.
2.4 ensure that prior to expenditure or disbursement of Redevelopment Loan Proceeds,
the following shall be obtained,to wit:
2.4.1 Owner shall provide the Director with evidence, acceptable to the Director,
in their sole discretion,that sufficient private funds have been committed to
complete the Redevelopment Project.
2.4.2 Owner shall provide evidence of, and maintain, adequate performance and
labor materials bonds during the period of construction of the project. The
City shall be specified as a co-obligee.
-3-
2.5 make payments, as required by this Redevelopment Agreement and the
Redevelopment Promissory Note, of the Excess ad valorem Taxes held in the
special fund called in Section 2.3 above. All Excess ad valorem Taxes shall be
allocated, and when collected,paid into the special fund for a period not to exceed
fifteen (15) calendar years after the Division Date. Under no circumstance shall
the Owner receive payments from the special fund for more than fifteen(15)years
of Excess ad valorem Taxes(i.e. thirty(30) semi-annual installments) or after such
time as the Redevelopment Note has been paid in full.
The City and Owner acknowledge and agree that the Owner shall receive the
benefit of the Redevelopment Loan Proceeds, as limited to eligible expenses
allowed by the Community Redevelopment Law,with the understanding that
the Excess ad valorem Taxes and resulting Redevelopment Loan Proceeds may
not be available for each and every installment or may not be sufficient to fully
amortize the Redevelopment Promissory Note issued by the City.
2.6 grant the entire amount of the Redevelopment Loan proceeds to the Owner for costs
of improving and redeveloping the Redevelopment Site, as allowed by law,
including,but not limited to,those estimated eligible costs set forth on Exhibit"E",
attached hereto, within the Redevelopment Area. Expenses identified on Exhibit
"E"are a reasonably accurate estimate of the eligible expenses for the project.
SECTION 3. OBLIGATIONS OF THE OWNER
The Owner shall:
3.1 complete the Redevelopment Project on or before June 30,2019.
3.2 cause all real estate taxes and assessments levied on the Redevelopment Site and
Redevelopment Project to be paid prior to the time such become delinquent.
3.3 loan redevelopment funds to the City in the principal amount of$340,000.00 as set
forth in Section 2.2,which,when combined with other private funds available,will
be sufficient to construct the Redevelopment Project. Execution and delivery of
the Redevelopment Promissory Note shall be at closing, which shall be as soon as
reasonably possible after execution of this Agreement but not more than 60 days
thereafter. At closing, the loan to be accomplished by this Section and the
obligation of the City to use the Redevelopment Loan Proceeds for redevelopment
purposes under Section 2.2 may be accomplished by offset so that the Owner retains
the Redevelopment Loan Proceeds. If the City so requests, the Owner shall, from
time-to-time, furnish the City with satisfactory evidence as to the use and •
application of the Redevelopment Loan Proceeds.
3.3.1 Such loan funds shall be disbursed as provided in Section 2.
-4-
3.3.2 Such loan shall bear a 5.0% interest rate.
3.3.3 The principal shall be repaid by the City from the special fund established
pursuant to Section 2.3 to collect and hold Excess ad valorem Taxes,
pursuant to the Redevelopment Plan and Section 18-2147 of the Nebraska
Revised Statutes,as they become collected in such fund and available to the
City for such use. To the extent such excess ad valorem taxes are
insufficient or unavailable to the City, the loan shall be forgiven and the
obligations of the Owner shall remain unaffected.
3.4 provide the City with quarterly progress reports during the construction of the
Redevelopment Project and allow the City reasonable access,upon written request
to Owner, to any relevant financial records pertaining to the Redevelopment
Project.
3.5 during the period that the Redevelopment Promissory Note is outstanding:
3.5.1 not protest a cumulative real estate improvement valuation on the properties
contained within the Redevelopment Site of$496,100.00(base)or less prior to and
during construction; and $2,500,000.00 [$496,100.00 (base) plus $2,003,900.00
(excess valuation)] or less after substantial completion or occupancy of the
Redevelopment Project. The covenant agreed to herein is for the benefit of,and
binding upon, both the City and the Owner and any successors and assigns,
but all parties acknowledge that the excess valuation agreed to herein is not
binding on the Douglas County Assessor and that any partial or full valuation
designated by the Douglas County Assessor may not be an amount sufficient
to produce Excess ad valorem Taxes required annually to amortize the
Redevelopment Promissory Note;
3.5.2 not convey the Redevelopment Site or structures thereon to any entity which
would be exempt from the payment of real estate taxes,not apply for exemption of
real estate.taxes from the county or the state, or cause the nonpayment of such real
estate taxes;if the county and/or state award the exemption of real estate taxes,this
Redevelopment Agreement and its associated Redevelopment Promissory Note
will be rendered void and cancelled;
3.5.3 not apply to the Douglas County Assessor for the structures, or any portion
thereof, to be taxed separately from the underlying real property encompassed
within the Redevelopment Site;
3.5.4 maintain insurance for ninety percent (90%) of the full value of the
structures on the Redevelopment Site;
-5-
3.5.5 in the event of casualty,apply such insurance proceeds to the reconstruction
of the Redevelopment Project,to the extent permitted by Owner's mortgage lender,
and
3.5.6 cause all real estate taxes and assessments levied on the Redevelopment Site
to be paid prior to the time such become delinquent. The Owner acknowledges and
agrees that any portion of the Excess ad valorem Taxes levied in the fifteenth year
under this Redevelopment Agreement that become delinquent shall be forfeited and
returned to the appropriate public bodies.
In the event the Owner violates or breaches any of the agreements,representations
or covenants in this section, the Owner may be required by the City to surrender
any remaining amount outstanding of the Redevelopment Promissory Note, after
reasonable notice and opportunity to cure. Each of the foregoing covenants shall
be referenced in a Notice of Redevelopment Agreement to be recorded by the
Owner with the Douglas County,Nebraska Register of Deeds within sixty(60)days
of the execution of this Redevelopment Agreement. The Owner shall include the
same covenants and restrictions agreed to above in any conveyance of the
Redevelopment Site, or any portion thereof, including but not limited to, any sale,
assignment, sale-leaseback or other such transfer of the property, but shall not be
responsible otherwise for the actions of the third parties if these covenants are
breached by such third parties if the Owner no longer owns the property.
3.6 shall provide the City of Omaha Finance Department with an executed,copy of the
Redevelopment Promissory Note prior to disbursement of any proceeds for
repayment of such Note pursuant to Section 2.5,so that such payment can be noted
on the Note and the Note returned to Owner.
3.7 provide the City with a penal bond in the amount of the TIF eligible expenses as
may be required by Section 18-2151 of the Redevelopment Law. A reasonably
sufficient payment and performance bond from the Owner's general contractor or
contractors will satisfy this requirement.
3.8 install and construct all of the public infrastructure improvements required and
referenced in the West Farnam Apartments Tax Increment Financing Project Plan
approved by the City Council of the City of Omaha on August 29, 2017 by
Resolution No. 948, in coordination with the Owner's development team and the
City of Omaha Public Works Department.
SECTION 4. PROVISIONS OF THE AGREEMENT
4.1 Equal Employment Opportunity Clause. Annexed hereto as Exhibit"D"and made
a part hereof by reference are the equal employment provisions of this Agreement,
wherein the"Owner"is referred to as "Contractor".
-6-
4.2 Non-discrimination. The Owner shall not, in the performance of this Agreement,
discriminate or permit discrimination in violation of federal or state laws or local
ordinances because of race, color, sex, age, political or religious opinions,
affiliations or national origin.
4.3 Captions. Captions used in this Agreement are for convenience and are not used in
the construction of this Agreement.
4.4 Applicable Law. Parties to this Agreement shall conform with all existing and
applicable city ordinances,resolutions,state laws,federal laws,and all existing and
applicable rules and regulations. Nebraska law will govern the terms and the
performance under this Agreement.
4.5 Interest to the City. Pursuant to Section 8.05 of the Home Rule Charter,no elected
official or any officer or employee of the City of Omaha shall have•a financial
interest, direct or indirect, in any City of Omaha Agreement. Any violation of this
section with the knowledge of the person or corporation contracting with the City
of Omaha shall render the Agreement voidable by the Mayor or Council.
4.6 Merger. This Agreement shall not be merged into any other oral or written.
Agreement, lease or deed of any type:
4.7 Administrative Amendments. The parties hereto recognize that certain
administrative amendments may need to be made to this Agreement in order to
carry out the intent of this Agreement and the Redevelopment Plan. The parties
hereto recognize that any such minor amendments to this Agreement negotiated
and executed by the parties' respective representatives, other than those defined in
§18-2117 of the Redevelopment Law, shall be considered and treated as
administrative in nature and not as a legislative amendment to this Agreement or
the Redevelopment Plan. However, amendments of the following types shall be
referred to the City Council for approval:
(1) Those that materially alter or reduce existing areas or structures otherwise
available for public use or access;
(2) Those that require the expenditure of $75,000.00 or more of City funds
above the levels contained in this Agreement;
(3) Those that increase City loans,bonded indebtedness, deferred payments of
any types, or other financial obligations above the levels contained in this
Agreement; and
(4) Those otherwise considered major or material in the reasonable discretion
of the City.
-7-
4.8 Modification. This Agreement contains the entire agreement of the parties. No
representations were made or relied upon by either party other than those that are
expressly set forth herein. No agent, employee or other representative of either
party is empowered to alter any of the terms herein unless done in writing and
signed by an authorized officer of the respective parties.
4.9 Assignment. The Owner may not assign its rights under this Agreement without
the express prior written consent of the City; such consent not to be unreasonably
withheld. The Mayor may,without City Council approval,approve,in writing,the
assignment of all rights hereunder to a successor entity owned by,or under common
control with Owner.
4.10 Strict Compliance. All provisions of this Agreement and each and every document
that shall be attached shall be strictly complied with as written, and no substitution
or change shall be made except upon written direction from authorized
representatives of the parties.
4.11 Binding Effect. This Agreement shall be binding upon the Owner's successors and
assigns,and shall run with the land described in Exhibit"C",attached hereto,to the
benefit of the City of Omaha.
SECTION 5. AUTHORIZED REPRESENTATIVE
In further consideration of the mutual covenants herein contained, the parties hereto
expressly agree that for the purposes of notice, including legal service of process, during the term
of this. Agreement and for the period of any applicable statute of limitations thereafter, the
following named individuals shall be the authorized representatives of the parties:
(1) City of Omaha:
David K. Fanslau Legal Service
Planning Director c/o City Clerk
City Planning Department Omaha/Douglas Civic Center
Omaha/Douglas Civic Center 1819 Farnam Street
1819 Farnam Street, Suite 1100 Omaha,NE 68183
Omaha,NE 68183
(2) Owner:
3817 Dewey LLC
6324 South 118th Street
Omaha,NE 68137
Attn: Larry Jensen
Either party may designate additional representatives or substitute representatives by
giving written notice thereof to the designated representative of the other party.
-8-
Executed this day of ,
ATTEST: CITY OF OMAHA:
CITY CL E CITY OF OMAHA DATE --.--MAYOR OF THE CITY OF OMAHA DATE
APPROVED AS TO FORM:
ASSIST T CITY A O EY DATE
2583 dlh
-9-
Executed this!9 day of .5-461- 5ry(---, , 20�1
OWNER:
3817 Dewey LLC, a Nebraska limited liability
company
By:
Name: Larry ense
Title: Managing Member
STATE OF NEBRASKA )
) §
COUNTY OF DOUGLAS )
Larry Jensen, Managing Member, 38173Dewey LLC , acknowledged the foregoing
Redevelopment Agreement before me this /7 day of 5 5 ` , 20/ .
SOnt-eircW\k:ri
Notary Public, State of ,� ,5i2o.
GENERAL NOTARY•State of Nebraska
SANDRAS.HOWNGSWORTH
My Comm.Exp.June 14,2021
- 1 0-
DO I
SD
-4- 0 i
2 2 1 t 1.1 p
,_ g i
z
W
li 7:7!////j t. .
.4'g4 I
V //' //, n
•
H i. i ...
up W r
i
EXHIBIT "B"
THIS BOND HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933
(THE " '33 ACT") AND MAY NOT BE TRANSFERRED, ASSIGNED, SOLD OR
HYPOTHECATED UNLESS A REGISTRATION STATEMENT UNDER THE '33 ACT
SHALL BE IN EFFECT WITH RESPECT THERETO AND THERE SHALL HAVE BEEN
COMPLIANCE WITH THE '33 ACT AND ALL APPLICABLE RULES AND
REGULATIONS THEREUNDER, OR THERE SHALL HAVE.BEEN DELIVERED TO THE
CITY OF OMAHA PRIOR TO TRANSFER, ASSIGNMENT, SALE OR HYPOTHECATION
AN OPINION OF COUNSEL, SATISFACTORY TO THE CITY OF OMAHA TO THE
EFFECT THAT REGISTRATION UNDER THE '33 ACT IS NOT REQUIRED.
REDEVELOPMENT PROMISSORY NOTE
$340,000.00 , 20
FOR VALUE RECEIVED, the undersigned, City of Omaha (hereinafter known as "Borrower"),
promises to pay 3817Dewey LLC, 6324 South 118th Street, Omaha,NE 68137,Attention: Larry
Jensen, Manager ("Holder"), arid/or its assigns, the principal sum of Three Hundred Forty
Thousand and No/100 Dollars ($340,000.00), together with interest thereon at the rate of 5.0%
per annum from the date of the execution of this Note until paid in full. The principal balance
and, interest thereon shall be due and payable to the Holder of this Redevelopment Promissory
Note as and at such time as any excess ad valorem taxes generated 1y tthe Redevelopment Project
as set forth in that certain Redevelopment Agreement dated the day of \ Z,KSAIy ,
20 , by and between the Borrower and the Holder (the "Redevelopment Agreement") are
collected by the Borrower and available for the retirement of this debt.
In the event of default under this Redevelopment Promissory Note, all sums secured by
this Redevelopment Promissory Note or any other agreement securing this Redevelopment
Promissory Note shall bear interest at a rate equal to five percent (5%) above the prime rate as
published by the Wall Street Journal from time-to-time; however, in the event said interest rate
exceeds the maximum rate allowable by law, then such rate of interest shall equal the highest
legal rate available.
The Borrower may prepay the principal amount outstanding in whole or in part, without
penalty or the prior consent of the Holder.
In the event the monies collected and held in that special fund established under Section
18-2147 of the Nebraska Revised Statutes and pursuant to the Redevelopment Agreement are
insufficient to pay in full all amounts due and owing after all excess ad valorem taxes generated
by the Redevelopment Project, as set forth in the Redevelopment Agreement, have been
collected by the Borrower and paid, immediately upon being available,towards the retirement of
the amounts due hereunder, then the Holder shall waive any unpaid portion of the principal and
interest due.
In the event this Redevelopment Promissory Note is referred to an attorney for collection
the Holder shall be entitled to reasonable attorney fees allowable by law and all court costs and
other expenses incurred in connection with such collection.
The Borrower shall be in default in the event the Borrower shall fail to pay, when due,
any amount required hereunder.
Demand, presentment, protest and notice of nonpayment under this Redevelopment
Promissory Note are hereby waived.
No delay or omission on the part of the Holder in exercising any remedy, right or option
under this Redevelopment Promissory Note shall operate as a waiver of such remedy, right or
option. In any event, a waiver on any one occasion shall not be construed as a waiver or bar to
any such remedy, right or option on a future occasion.
Any notice provided for in this Redevelopment Promissory Note to the Borrower or the
Holder shall be in writing and shall be given by regular mail to the Holder or Borrower, or at
such other address as either party may designate by notice in writing.
This Redevelopment Promissory Note shall be governed`by and construed in accordance
with the Laws of the State of Nebraska. All payments hereunder shall be payable in lawful
money of the United States of America and shall be legal tender for public and private debts at
the time of payment.
CITY OF OMAHA, A Municipal
Corporation
By: .. >-h) �- � 111 Z11--
Mayor of the City of Omaha Date
ATTEST: APPROVED AS TO FORM:
l`/2-///-7
CityClerk f th of Omaha Date Assi nt CityAAftorne Date
YY
/ 2 -
4 ; . 9
•
•
•
•
•
•
1
TOPOGRAPHIC LAND SURVEY
I i I I I 3817 DEWEY AVENUE,-CITY OF OMAHA,
�' J DOUGLAS COUNTY, NEBRASKA
gip_,
•
•
� `I-
--------..- 111Ml�_ 11 ... `•, - --71:, •• ,...{_' r.� . rn iimTie�Mn�oap ansJ
_ QIIII--"-"14-2---------
y am, - , y , 1
•
_ .. .. tli�. '.�7• rr {`• i'. fir.c•�J• '.'t$I {R7Yff7i7� �d'fli �°�~.'`�um
', 11P C -rr
DIM WO NraZie
1 11[1.1
I -via•
.
/ ,EN ..n
411
. . II lit '1,.. 01.1''$ .' '.1471,1.. . 4- ,° ' .,.^" - -
• MI..rM. .rt
••
1 IC'
�, k, N.• urn wr' ��iu-.
L
1 , It, � WEST OMAHA • ' LmuI - �_i - REPLAT 4I00)
1 % " N ♦i°OM.�e sw��0 i.i.w0�.Narl/u.n.na
WEST ! ! .1..Q r:"` M.Mb..nMr1
w l.,�yzl �{ ' I'' uiw. .r.nwnw wo '
•
,44:,:iim ay;ilL ,
1i tt f
•
•
•
4
MOW
�/ •
L
I •
,Inia•MINIM 0
•
_
+�""-" OMAHA BLOCK 3. ::-r.. ___ :__
versa...
•
nrrsr
•
O .w-rr
ag wr.MW. —n�
unman err
O 1010040. sir �40 �
nw.r-ayell
4 2 li '
3 4 4 .
•
a.a. !
•
•
•
•
�� ti, '', ��ly, , ,i,! ,1J�il " VENUE.'CITY OF OMAHA.
s TOPOGRAPHIC
OEWE COUNTY.NEBRASKA
i. f .T,'#f !;;or ate �J� OOUOLAB
J 414
i ,'i�;,,, i•;;,;.,'.. t t1�.. µ` ;k,'q:iT,-51110l, •
1 1 . .T 1 IIIIT ! T
(♦IrV••i.�ll, �L :IE.,,,
.MCP . «� ." 'L'"
PAGE 1 OF 1 .a[ ,�in n .~I.nn�
•
EDIT"D"
EQUAL EMPLOYMENT OPPORTUNITY CLAUSE
During the performance of this Agreement, "Provider"agrees as follows:
(1) Provider shall not discriminate against any employee or applicant for employment
because of race,religion, color, sex, age, sexual orientation, gender identity, disability or national
origin. Provider shall.ensure that applicants are employed and that employees are treated during
employment without regard to their race, religion, color, sex, sexual orientation, gender identity,
or national origin. As used herein, the word "treated" shall mean and include, without limitation,
the following: recruited, whether by advertising,or by other means; compensated; selected for
training, including apprenticeship; promoted; upgraded; demoted; downgraded; transferred; laid
off; and terminated. Provider agrees to and shall post in conspicuous places, available to
employees and applicants for employment, notices to be provided by the contracting officers
setting forth the provisions of this nondiscrimination clause.
(2) Provider shall, in all solicitations or advertisements for employees placed by or on behalf
of Provider, state that all qualified applicants will receive consideration for employment without
regard to race, religion, color, sex, sexual orientation, gender identity or national origin, age,.
disability.
(3) Provider shall send to each labor union or representative of workers with which it has a
collective bargaining agreement or other contract or understanding a notice advising the labor
union or worker's representative of Provider's commitments under the Equal Employment
Opportunity Clause of the City and shall post copies of the notice in conspicuous places
available to employees and applicants for employment.
(4) Provider shall furnish to the City Contract Compliance Officer all Federal forms
containing the information and reports required by the Federal government for Federal contracts
under Federal rules and regulations, and including the information required by Sections 10-192
to 10-194, inclusive, and shall permit reasonable access to his records. Records accessible to the
City Contract Compliance Officer shall be those which are related to Paragraphs (1)through (7)
of this Exhibit and only after reasonable advance written notice is given to Provider. The
purpose for this provision is to provide for investigation to ascertain compliance with the
program provided for herein.
(5) . Provider shall take such actions as the City may reasonably 'direct as a means of
enforcing the provisions of Paragraphs (1) through (7) herein, including penalties and sanctions
for noncompliance; however, in the event Provider becomes involved in or is threatened with
litigation as the result of such directions by the City, the City will enter into such litigation as
necessary to protect the interests of the City and to effectuate the provisions of this division; and
in the case of contracts receiving Federal assistance, Provider or the City may request the United
States to enter into such litigation to protect the interests of the United States.
(6) Provider shall file, if any, compliance reports with Provider in the same form and to the
same extent as required by the Federal government for Federal contracts under Federal rules and.
regulations. Such compliance reports shall be filed with the City Contract Compliance Officer.
Compliance reports filed at such times as directed shall contain information as to the
employment practices,policies,programs and statistics of Provider.
(7) The Provider shall include the provisions of Paragraphs (1) through (7) of this Section,
"Equal Employment Opportunity Clause", and Section 10-193 in every subcontract or purchase .
order so that such provisions will be binding upon each sub-Provider or vendor.
EXHIBIT"E"
TIF Eligible Expenses/West Farnam Apartments
•
TIF Eligible Costs-Estimate
Acqusition Costs $ 725,000
Demolition (including asbestos removal) $ 72,000
Sitework(sidewalk&driveway approach improvements) $ 15,000
Facade Improvements(brick veneer, tuick pointing) $ • 35,000
Window Replacement $ 320,000
Roofing • $ 100,000
TIF Fee $ 3,500
TIF Voluntary Contribution $ 15,000
Total $ 1,282,500
NO. Lomo
Item Submitted By: Don Seten/Debbie Hightower
Department: Planning
Council Meeting Date: -frSt- jA4t , ► Da v r1,ac 1 `l
Sid Cuf uil i c_ VA4 ' : D t raoi-tj tI 1
Thi i1ativic octi*Er5119-o -
AN ORDINANCE approving a edevelopment and tax increment financing loan agreement
between the City of Omaha, a Nebraska Municipal Corporation in Douglas County, Nebraska,
and 3817 Dewey LLC, a Nebraska limited liability company, to implement the West Farnam
Apartments Tax Increment Financing (TIF) Redevelopment Project Plan for a project site
located at 3817 Dewey Avenue, which proposes a comprehensive rehabilitation of a historic
1912 apartment building located in the Blackstone neighborhood near the University of
Nebraska Medical Center; the agreement authorizes the use of up to $340,000.00 in excess ad
valorem taxes (TIF) generated by the development to help fund the cost of the project; and
providing for an effective date.
2583 dlh Le6
Presented to City Council
OCT 312017
Passed 1 —D
8lizahct i 1 utier
City Clerk