City HallWednesday, November 11
Omaha City Council designates part of Central Omaha "extremely blighted" to open the door to TIF
The Morning Omaha team
If you live in Central Omaha, check the map. The Omaha City Council on Tuesday designated part of the area “extremely blighted,” which lets developers receive tax-increment financing, or TIF, for qualifying projects. Midtown Crossing and Blackstone are inside the lines. Extremely blighted areas are those with high unemployment, an elevated poverty rate, or both.
Planning Director David Fanslau said the designation is meant to encourage affordable housing and homeownership. It could make approved projects eligible for up to 20 years of TIF instead of 15. He also said it doesn't mean every area within the zone is extremely blighted.
Extremely blighted status could stretch TIF from 15 to 20 years
Source: wowt.com
View as table
| Value | |
|---|---|
| Standard TIF term | 15 years |
| Extremely blighted area | 20 years |
- Streetcar: the boundaries include an area the Omaha Streetcar will serve
- Pending: a developer has approached the city about a housing project near 24th and Dodge
- Not up for approval: the apartment complex itself
The designated area covers Midtown, Field Club and Leavenworth
| Detail | What the reports say |
|---|---|
| Streets | 24th to 36th, Dodge to Pacific |
| Neighborhoods | Midtown, Field Club, Leavenworth, among others |
| Basis | Unemployment and poverty rates |
Sources: KMTV 3 News Now Omaha, wowt.com
Not everyone likes the label. Lisa Kammerer, who has lived there nearly three decades, said the area has steadily improved. GreenSlate Development Partners' Scott Dobbe said the company is “among the biggest believers in these neighborhoods.”
Sources: KMTV 3 News Now Omaha, KSNB, wowt.com