UPDATE: 3:30 PM
On Wednesday morning, City of Omaha Mayor Jean Stothert held a live news conference from City Hall to announce a pair of "significant" urban core development plans.
A streetcar system is currently being designed for service downtown by 2026, and Fortune 500 company Mutual of Omaha will relocate along the future route, said Stothert, a proposal that is backed by the Greater Omaha Chamber's Urban Core Committee.
In a follow-up press release, Stothert stated clearly that "the streetcar will be built, operated and maintained without a property tax rate increase or sales tax increase." Additionally, the city's General Fund budget will not be used to build, operate or maintain the streetcar.
The electric, fixed-route transportation system will be fare-free to riders and operate on a three-mile route from Cass to Farnam on S. 10th Street, Farnam west to 42nd Street and back to 10th Street on Harney.
Mutual of Omaha will officially take over the current location of the downtown Omaha Public Library and is expected to replace the W. Dale Clark building with one that would become the tallest building in the downtown skyline.
Second announcement: Mutual of Omaha headquarters is moving downtown.
— Jon Kipper (@jonnykip21) January 26, 2022
CEO James Blackledge says he was inspired by the energy downtown and wants to contribute to a vibrant urban core. pic.twitter.com/LLaG7rSnFo
Blackledge says putting a streetcar downtown was a key reason Mutual is going downtown.
— Jon Kipper (@jonnykip21) January 26, 2022
The plans are for the library to be moved out by September and for the building to be demolished by December of 2022.
— Jon Kipper (@jonnykip21) January 26, 2022
The vehicles and rails of the streetcar will be owned by the City of Omaha and operated by a "newly created Streetcar Authority" as a joint entity between the City of Omaha and Metro Transit. ORBT and Metro Transit will still exist as alternative forms of transportation, and materials released by the city emphasized that, "while Metro buses and ORBT bring people to the core, the streetcar moves them around the core."
Stothert is proposing TIF'ing some of the properties near the route, TIF'ing the new properties and creating a TIF district. All combining for that $354 million.
— Jon Kipper (@jonnykip21) January 26, 2022
The streetcar is intended to reduce the amount of people driving personal vehicles
downtown and provide better access to entertainment, housing, and business, in addition to higher education institutions and healthcare.
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