- The Omaha City Council is expected to hold its first reading on a CRA designation – needed to get TIF funding – near The Center Mall in September
- Lockwood Development says the project will not move forward without TIF funding from the city
- Neighbors are divided over the proposed redevelopment plan
BROADCAST TRANSCRIPT:
OMAHA, Neb. (KMTV) – The Omaha City Council is expected to hold its first reading in September on a designation that could determine the future of the Center Mall.
Lockwood Development wants to convert the mall into apartments and office space. The project hinges on whether the city designates the area a Community Redevelopment Area, or CRA — a classification that makes a property eligible for Tax Increment Financing, or TIF, funding from the city.
Jon Blumenthal, an attorney representing Lockwood Development, said the project will not move forward without that funding.
"We do not believe this project will happen without TIF. It's just not economically feasible for the developer to build this without TIF," Blumenthal said.
In June, the Planning Board recommended to the Omaha City Council that the area near the Center Mall receive the CRA designation.
The City Council's first reading on that recommendation is expected for September. A public hearing and vote will follow.
Not everyone in the surrounding neighborhoods wants to see the project advance. Beth Monohon, a Hanscom Park neighbor, said she has concerns about the current tenants inside the mall.
"I'm deeply concerned about the tenants in the Center Mall," Monohon said.
Monohon also raised concerns about oversight if the CRA designation is approved and TIF funding is granted.
"The way that these TIF projects go in Omaha. I mean, there's really no accountability after the fact," Monohon said.
Morton Meadows neighbor Steve Houston said he wants the City Council to vote against the CRA designation and is calling on council members to engage with residents who oppose the plan.
"I think one of the crucial things that the city council members need to tell us is, how can we, the people they represent, help them to get to no," Houston said.
Not all neighbors share those concerns. Hanscom Park resident Andrew Adams said the development could be a visual improvement for the area.
"Aesthetically, I think that would be a big improvement for the neighborhood," Adams said.
If the City Council approves the CRA designation in September, Lockwood Development would become eligible to apply for TIF funding — the step the developer says is required for the project to move forward.
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