Since its formation in 2015, the Omaha Municipal Land Bank has generated an estimated $83.5 million in citywide economic impact as it carried out its mission to transform vacant or abandoned properties into new opportunities. That was a key takeaway from an economic analysis of how the Land Bank has affected property values and tax revenues. The analysis was conducted for the Land Bank’s 10th anniversary, which was celebrated last month at the Love 4 Lots 10-Year Celebration, the organization’s first annual meeting. Over the past decade, the land bank, in partnership with local governments, developers and neighborhood organizations, has acquired more than 1,500 nuisance properties and prepared them for redevelopment, the analysis found. The land bank’s work has supported infill housing, affordable home ownership and site preparation for new community projects. Highlights from the 10-year economic analysis include: ● 1,562 — OMLB properties sold or transferred to a new owner ● $83.5...

The Omaha City Council will be making a huge step toward moving the Tranquility Park Sports Complex forward. During this week’s meeting, the council heard remarks regarding an ordinance to approve a contract with Kiewit Building Group, Inc. The more than $60 million contract encompasses the construction of 12 synthetic turn soccer fields, with $20 million going to a new interceptor sewer line to serve the area. The initial build out will include grading for four additional fields, which would be finished in the future. If approved, Kiewit plans to start earthwork within the following 30 days and has a timeline to complete this phase by Summer 2027. The city is seeking to start the construction as soon as possible to give the developer and investors of the surrounding area enough assurance to move forward on their part of the development. According to the City Council, the developer has a hotel secured, but is waiting for the City to start before moving forward. The Council will vote...