White Lotus Group is seeking $34 million in Tax Increment Financing for its proposed redevelopment project of the old Civic Auditorium site in downtown Omaha known as Civic Corner. The site is bordered by Capitol Avenue as well as 17th, 19th and Chicago streets. The only structure currently on the site is a city-owned parking garage.
The Omaha Planning Board will review the TIF application during their monthly meeting on Wednesday, November 4. The application comes to the board with the Planning Department’s recommendation of approval.
According to the TIF application, the project will now consist of six phases. The TIF financing is for the whole project, which comes with an estimated cost of more than $320 million. The current plans include 10 buildings, not including the existing parking garage. The application includes renderings of Phase I, which consists of a multiuse apartment building with 120 residential units and possibly 10,000 or 15,000 sq. ft. of ground floor commercial space…