Committee sets public hearing, approves lease extension for property adjacent to 426 Omaha St.; site in 100‑year floodplain

The Legal and Finance Committee on Feb. 12 approved a resolution of intent to enter into a lease with Ridley USA, doing business as Hubbard Feeds, for city property adjacent to 426 Omaha Street and set the matter for a public hearing.

Councilmember Kevin Maher asked questions about the parcel's history and possible future uses. Director Hensley said the city has leased the property to the mill for several years. Hensley and Director Fisher said the parcel is encumbered by a federally designated 100‑year floodplain and, except where a floodplain development permit would allow limited work, it cannot support new structures.

Director Ainsley said staff tried to set the rental rate closer to market; however, because of the parcel's limited uses and few adjacent property owners, comparables are scarce. The lease document includes a clause (paragraph 10) allowing the lessor to terminate the lease any time on or after the fifth anniversary with six months' notice. Pat Roseland asked about a prior $5,000 donation from the lessee to an Omaha Street beautification program; Ainsley said that was a one‑time contribution about ten years ago and is not an ongoing fund.

City Attorney Joel Landin described the city's broader acquisition of North Side land after the flood to prevent redevelopment and said much of that land cannot be sold or developed because of federal funding restrictions; he suggested the parcel may be incorporated into the Greenway if not used by Hubbard.

The committee approved the consent item to proceed with the lease resolution on a motion by Councilmember Biberdorf, seconded by Kevin Maher; the motion carried.