Omaha planning board approves downtown 6,500‑seat soccer stadium and mixed‑use TIF plan
Summary
The Omaha Planning Board voted 6–0 to approve a TIF redevelopment plan for a 6,500-seat downtown soccer stadium and adjacent mixed‑use site, endorsing a financing package that includes city bonds, TIF support, and state “turn-back” sales tax revenue. The project targets a 2026 start and 2028 opening.
The Omaha Planning Board on a 6–0 vote approved a redevelopment plan to build a 6,500‑seat professional soccer stadium and adjacent mixed‑use buildings on a city‑owned parcel the city is negotiating to buy from Union Pacific Railroad.
City and developer representatives told the board the project is a public‑private partnership led by Downtown Soccer Stadium Inc. (DSSI) and Union Omaha and will subdivide roughly 25 acres for a stadium and mixed‑use development. “This project represents a an investment in our Central Business District of more than $316,000,000,” a project presenter said during the meeting.
Why it matters: Proponents said the stadium and surrounding apartments and ground‑floor commercial space will activate the Millwork Commons district and generate new sales‑tax revenue to repay bonds. Project counsel described a capital stack that pairs city bond issuances and TIF support with naming rights, parking and ticket income, and an anticipated state sales‑tax “turn‑back” authorized under 2024 legislation. The team said the TIF request totals about $48.2 million and that roughly $29 million of public right‑of‑way improvements are included in the packet, while the broader set of TIF‑eligible costs discussed at the hearing totaled in the low hundreds of millions.
Developers and city officials told the board several approvals remain: a redevelopment agreement and ground lease with the city, Urban Design Review Board review, environmental testing and mitigation, state approval of the turn‑back tax application, and city‑issued bonds. Project counsel said the team has engaged Municap for financial analysis and is refining its models with city finance staff. A city representative said the team is aiming to begin stadium construction in 2026 with completion in time for the 2028 season.
Support and scrutiny: Marco Floriani of the Mayor’s Office told the board the mayor’s office “shares the enthusiasm” for the downtown location and the project team emphasized benefits for downtown activation. Union Omaha’s general manager, Alexis Boulos, appeared and said the club and its partners are committed to the site and timetable.
Board action: After questions about the financing and the state turn‑back tax, the board moved and seconded approval of the redevelopment plan. The roll call recorded six yes votes and no negatives. The board did not vote on bond issuance or the state application; those later steps require separate approvals.
What’s next: The project team will continue negotiating the redevelopment agreement and ground lease, pursue state approval of the turn‑back tax that would provide up to $25 million in capped sales‑tax returns over 20 years, finalize environmental testing, and bring bond and redevelopment agreements to city council and other bodies for approval. The planning board asked to be kept informed of milestones and deadlines."
