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Omaha City Council approves re-development agreement for Mutual of Omaha Tower

Omaha City Council approves re-development agreement for Mutual of Omaha Tower

The Omaha City Council has approved a 138-page re-development agreement for the Mutual of Omaha Tower in downtown Omaha.It details plans for Mutual to take over the W Dale Clark Library site, where the company will build its tower.City Council President Pete Festersen noted the city will give the current site of the W Dale Clark Library to Mutual, in exchange for a different lot near 14th and Capitol Streets. The city says the library site is valued at around $7.8 million, while the site the city will get is estimated at around $6 million. The agreement also allows Mutual to purchase the property east of the library at market value. The city says an appraisal shows that the lot is valued at around $8.6 million. The agreement also details projects beyond the new mutual headquarters.Several of those will require additional approval, like the actual demolition of W Dale Clark, the purchase of several parking garages, and a streetcar. Festersen noted there will be several more public hearings on those projects. “We’ve requested a lot more information on it, and its financial impact that I think is still a work in progress. In fact, I would say it’s been a little frustrating to get those details in last couple months but I think that is getting better even in just the last week or two,” Festersen said.

The Omaha City Council has approved a 138-page re-development agreement for the Mutual of Omaha Tower in downtown Omaha.

It details plans for Mutual to take over the W Dale Clark Library site, where the company will build its tower.

City Council President Pete Festersen noted the city will give the current site of the W Dale Clark Library to Mutual, in exchange for a different lot near 14th and Capitol Streets.

The city says the library site is valued at around $7.8 million, while the site the city will get is estimated at around $6 million.

The agreement also allows Mutual to purchase the property east of the library at market value. The city says an appraisal shows that the lot is valued at around $8.6 million.

The agreement also details projects beyond the new mutual headquarters.

Several of those will require additional approval, like the actual demolition of W Dale Clark, the purchase of several parking garages, and a streetcar.

Festersen noted there will be several more public hearings on those projects.

“We’ve requested a lot more information on it, and its financial impact that I think is still a work in progress. In fact, I would say it’s been a little frustrating to get those details in last couple months but I think that is getting better even in just the last week or two,” Festersen said.

https://www.ketv.com/article/omaha-city-council-approves-re-development-agreement-mutual-of-omaha-tower/40028647