Council approves TIF for five‑story 70 Second Farnham apartment project over public affordability objections

The Omaha City Council on Monday approved a tax‑increment financing (TIF) redevelopment plan for a proposed five‑story apartment building at 70 Second and Farnham, voting 6 to 1 in favor.

City planning staff described the project as a five‑story building with 76 market‑rate units and one retail bay. Don Seaton of Omaha City Planning said the developer envisions a project that "densifies the city core" and asked the council for approval of the proposed financing.

Opponents during public comment said the project will not address the city's shortage of affordable housing. Cheryl Weston, who identified herself as an opponent, said Omaha has an "affordable housing deficit of 30 to 40,000 houses" and criticized the use of TIF for primarily market‑rate units. "Omaha will never fully address its affordable housing problems when you continue to approve TIF projects like this," she said.

Other residents raised related concerns about rising rents and whether the project met the original intent of the state TIF program. Luis Jimenez said the advertised rents for the project would require incomes he described as out of reach for many city residents.

The developer, represented at the hearing by a speaker identified as Brett, said the site was vacant and that redevelopment would connect the new housing to community investments such as the nearby library. Brett said the project would include ground‑floor businesses and that he hoped the added housing would support walkable activity along 70 Second. "We're actually ... adding residents. And I think it's gonna ... enliven 70 Second Street," he said.

Council members debated the project’s fiscal rationale and its potential to increase assessed value in an area the city considers underperforming. Councilmember Roe reviewed property valuations and described the proposal as a private investment that could yield higher future tax revenues. Councilmember Amy Melton explained TIF mechanics and said prior TIF projects have begun generating increased tax revenue once loans are paid off.

After debate, the council approved the TIF plan 6 to 1. Councilmember Johnson cast the lone vote against the item and said she supported the project’s aims but remained concerned that the city was not doing enough for residents with very low incomes.

The agenda packet listed a TIF amount on the printed notice; the figure read during the meeting as a large numeric string that appeared to be a clerical error. The exact TIF dollar amount to be provided to this project was not specified on the record during public comment, and council discussion focused on project cost estimates and the projected increase in assessed value rather than a single agreed TIF payout figure.

What the council approved is the redevelopment plan and authorization to use the TIF mechanism consistent with existing procedures; the project will proceed subject to the developer securing required permits and financing.

Votes at the meeting recorded the motion as passing 6 to 1.