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Council approves Mueller Apartments TIF package for 34-unit downtown building
Summary
The council approved tax-increment financing support up to $852,814 for a planned four-story, 34-unit apartment building at 2226 Howard Street that developers said will cost about $9.6 million and be complete next April.
The Omaha City Council approved tax-increment financing (TIF) assistance of up to $852,814 for the Mueller Apartments redevelopment at 2226 Howard Street, a four-story building with 34 market-rate units and an estimated total investment of about $9.6 million.
City planning staff said the project replaces a dilapidated single-family house and is well-located near the ORP line and the Omaha streetcar line. Don Seaton of City Planning described the project and said it meets TIF program criteria and the city’s master plan. McKinley Wilson, representing the applicants Brian and Lee Mueller, said construction is estimated to finish by next April.
Why it matters: The project brings new housing units to downtown, supports transit-oriented development and uses TIF to subsidize a portion of the private investment. Council members praised the local investment and urged the developers to keep the council informed as construction proceeds.
Votes and procedure: After a brief presentation and statements of support from council members, a motion to approve the TIF redevelopment agreement passed 7-0.
Details: City planning reported the TIF meets program criteria. The developers and city staff identified proximity to transit and replacement of a blighted structure as project benefits.
