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Omaha council approves city application to join Union Omaha on state turnback tax for downtown stadium
Summary
The Omaha City Council voted 7–0 to authorize the city to join Downtown Soccer Stadium Inc. in submitting a state "turnback" sales‑tax application to help finance a proposed Union Omaha stadium and adjoining mixed‑use development. Proponents said the project would generate new downtown revenue; opponents warned financing risks.
The Omaha City Council voted unanimously to authorize the city to co‑apply with Downtown Soccer Stadium Inc. for a state turnback sales‑tax incentive aimed at helping finance a proposed downtown soccer stadium anchored by Union Omaha.
David Levy, an attorney for the applicant, told the council the stadium would include roughly 6,500 fixed seats and about 8,500 people at full capacity and serve as the anchor for a mixed‑use district that he estimated at about $400,000,000 in total private investment. "The turn back revenues would help fund the cost of building the stadium," Levy said, adding the applicant relied on a Municap analysis showing the stadium would receive up to $25,000,000 in turnback revenues over a 20‑year period.
Jennifer Taylor of the City Law Department described the deal mechanics: the eligible state program turns back 70% of project‑generated state sales tax to the applicant and retains roughly 30% for the state; the city would also keep its local option share. Taylor said the parcel under consideration is currently owned by Union Pacific and is largely underutilized.
Opponent Larry Store urged caution. "What if people don't want to go to the stadium? Where are you gonna get the money to pay it off then?" he asked, arguing the city should consider alternative financing and that projected revenues are not guaranteed.
Councilmembers who supported the resolution noted the authorization before them was only the next procedural step. Several members asked about timing and risk mitigation; Levy and city staff said a redevelopment agreement and additional documents, including a forthcoming bond ordinance and land purchase ordinance, would return to the council with more detail. Levy and staff said the goal is to begin construction in 2026 and open the stadium in 2028 if state approvals and subsequent council actions proceed on schedule.
The council approved the resolution 7–0. A public hearing and a bond ordinance related to land purchase were expected to follow within weeks as the city negotiates redevelopment agreements and financing details.
