OMAHA, Neb. (KMTV) — Construction is underway on the streetcar in the Downtown and Blackstone neighborhoods.
On Tuesday, the Omaha City Council approved a change in the bond. The city uses bond money to pay for streetcar construction. With interest rates fluctuating, the latest round of bonds allows the city to pay less in interest.
The change could result in tens of millions of dollars going to other projects in the streetcar area. Steven Jensen, the Deputy Chief of Staff for Economic Development and Development Services in the Mayor's Office, said the rules allow that money to be used for the streetcar, bike lanes, or affordable housing.
I asked Jensen if the money can go to helping businesses that are being impacted by streetcar construction.
"No, it's not eligible," Jensen said.
Affordable housing is eligible. Mayor John Ewing has said building more affordable housing is a priority. Jody Holston, the Executive Director of Front Porch, said there is currently a shortage of about 78,000 units.
"Affordable housing is key to all areas, so not just the individuals who are living in the housing," Holston said.
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