Council approves reimbursement to developer for site‑preparation work on city‑owned parcel

The Omaha City Council on June 9 approved a cost reimbursement agreement with New Style Development Corporation to reimburse verified site-preparation expenses on a city-owned parcel previously slated for a children's museum and apartments.

Jennifer Taylor of the City Law Department explained that the council had earlier adopted a redevelopment plan for the parcel (site identified in the record) and that substantial site work — utilities, sewer and other infrastructure — was completed by New Style. Because the parcel is city-owned and now in a "shovel-ready" state, the city will reimburse New Style for the eligible expenses that were reviewed and determined to benefit the city-owned asset. Taylor said the larger redevelopment plans are currently on hold and may return to council in an amended form.

Council members asked whether the earlier redevelopment plan authorized use of redevelopment bond proceeds to pay these costs; Taylor confirmed the plan permits the city to expend redevelopment bond proceeds for this work. The discussion also noted that preparing the site increases the property's acquisition value, which the city will account for if the parcel is conveyed in the future.

The item was moved, seconded and approved by roll call (recorded as passing 7–0). The transcript reads the reimbursement amount as "$4,382,37" on the record; the number appears truncated or mis‑formatted in the transcript and is reported here as transcribed. The council record shows the funding source for the reimbursement is redevelopment bond proceeds rather than the city's operating budget.