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Council approves TIF for 14‑unit affordable row‑home project in North Omaha
Summary
The council unanimously approved TIF assistance for a 14‑unit row‑home development in North Omaha that city staff and proponents described as an affordable for‑sale project for income‑qualified households.
The Omaha City Council voted unanimously to approve a tax‑increment financing plan to support the Rose at Barclos redevelopment at 4209 and 4215 Ellison Avenue in North Omaha.
Don Seaton of the City Planning Department described the project as a residential infill redevelopment that will create 14 newly constructed row‑home units on two vacant parcels. Seaton said the homes are intended to be sold to income‑qualified buyers earning between 60 and 120 percent of area median income and that the sales price will be subsidized with SPARC funds.
Bob Griffith, representing the applicant Mench Group LLC, said the developer expects final sale prices around $265,000 and that the project needs public subsidies to bridge an estimated gap between construction cost and sales price. Griffith said the developer’s capital stack will include about $1.6 million in SPARC funds and TIF assistance, and he described the total investment as roughly $5.1 million.
Cheryl Weston, who testified earlier on other items, spoke in favor of the project, saying it fit TIF goals for infill and affordable homeownership. "This is a true low income affordable housing project," she said, and called the project a way to help families build homeownership wealth.
Council discussion was brief. After proponent testimony and representatives answering council questions, the council approved the Rose at Barclos TIF plan by roll call, 7 to 0.
The project’s proponents and city staff said the TIF request was sized to support homeownership affordability in concert with SPARC subsidy and the developer’s equity; the council approved the redevelopment plan and the use of TIF consistent with program rules.
