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Planning board backs 50‑unit senior affordable housing project and $660,785 TIFF request
Summary
The board approved a three‑part package to enable a 50‑unit senior affordable housing project at 1059 Park Avenue — a future land use amendment, TIFF support (about $660,785 requested), and rezoning with an ACI overlay — after staff said the project is compliant with the master plan and backed by LIHTC and HOME funds.
The Omaha Planning Board unanimously approved a package of approvals to advance a 50‑unit senior affordable housing project at 1059 Park Avenue. Rob Woodling of Foundations Development described the project as senior affordable housing with mostly one‑bedroom units targeted at 40–50% of Area Median Income; finance sources cited included low‑income housing tax credits, HOME funds and philanthropic loans.
Don Seaton outlined the requested tax increment financing (TIFF) support of $660,785 and said the project represents about a $10.5 million investment in the neighborhood. Planning staff recommended approval of the future land use amendment, the TIFF request and the related rezoning and ACI overlay. No opponents appeared at the public hearing; the Board approved all three items 5–0.
The approvals forward the project toward city council review and later permitting; the developer and staff said they expect the financing stack to rely on LIHTC and HOME funds and that the project will aim to keep rents targeted to qualifying households. The project's next steps include final plan submittals and Council consideration of the TIFF and land use actions.
