The Omaha City Council voted 7-0 to approve a tax-increment financing (TIF) redevelopment plan providing up to $810,899 in support for the Popleton Project East, a proposed 4- and 5-story apartment building with 51 units intended for very low-income households on a vacant lot near 2911 Poppleton Avenue.

Don Seaton of Omaha City Planning described the project as “an affordable housing project located on a vacant lot” and said the development team expects a $19,000,000 total investment. Seaton said the TIF component was requested to support operations and long-term sustainability of the building and that the TIF term would be 20 years.

Cheryl Garce of InCommon Housing Development Corporation, a project partner, described the financing as a complex capital stack comprising low-income housing tax credits (LIHTC), ARPA funds, state and city HOME funds and private philanthropy. “We couldn’t have done this without, first, the finance authority, with their low income housing tax credits that’s generating about $12,000,000,” Garce said. She and other proponents said ARPA funds and HOME funds were critical pieces that made the project feasible.

Councilmembers praised the proposal as a significant investment in an area the city described as “extremely blighted,” noting the project’s role in providing workforce and very low-income housing options. Some councilmembers and speakers discussed the complexity of financing affordable housing and the need to consider future funding tools such as municipal housing bonds once federal ARPA dollars are no longer available.

The council’s approval authorizes up to $810,899 in TIF support; developers and proponents told the council the broader financing plan includes roughly $12 million in LIHTC equity, approximately $3 million in permanent loan financing and roughly $1 million in philanthropic and ARPA funds, leaving the TIF portion to help bridge operational financing needs.

The motion to approve passed unanimously on roll call.