OMAHA, Neb. (KMTV) — On Monday we updated you on the work being done on the Streetcar and what is planned for 2025. But as the project moves along, reporter Molly Hudson looked into the numbers.
- "Our revenue that we projected is running far above what Municap projected," said Steve Jensen, Omaha Streetcar Authority board.
- As of Tuesday, the investment estimate for TIF projects in Omaha’s urban core is now over $1.5 billion with four projects named since June.
- But with just a few weeks left in the year, six projects remain on the 2024 list with investment but no name.
BROADCAST TRANSCRIPT:
Steve Jensen, a board member of the Omaha Streetcar Authority says the project is ahead of schedule on revenue projections.
"Our revenue that we projected is running far above what Municap projected, we are already at 1.3 billion in projects that have been approved,” said Steve Jensen, a board member of the Omaha Streetcar Authority.
Back in June Mayor Jean Stothert announced that the increase in tax revenue was based on TIF projects expected to be underway by the end of this year.
Some of those include ‘The Duo’ and the ‘Service Life Building’.
But at that point in the year, there were still 11 projects included on the list without a name. Which at the time Mayor Stothert wouldn't comment on.
“Can you give us an idea of what types of developments these are,” Molly asked Mayor Jean Stothert in June.
“Not yet, but we will, I mean we are working with the developers on it, we know that they are going to happen and approximate value,” Mayor Jean Stothert said in June.
As the year wraps up, reporter Molly Hudson followed up to see if that list had been updated.
As of Tuesday, the investment estimate for TIF projects in Omaha’s urban core is now over $1.5 billion with four projects named since June.
Some of those include ‘The Beam’ - an apartment building next to the new Children’s Museum at the Riverfront and the Millwork Hotel.
But with just a few weeks left in the year, six projects remain on the 2024 list with investment but no name.
