Crane public Meeting Report

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CRANE Public Meeting Report

NIFA Board Room

Wednesday, May 4, 2005

Public Meeting Announcements were published:

Lincoln Journal Star – Sunday, May 1, 2005

Omaha World Herald – Sunday, May 1, 2005

Attendees: Pat Compton, Nebraska Department of Economic Development; Lara Huskey, Nebraska Department of Economic Development; Julie Stavneak, J. Development Company; Jim Royer, J. Development Company; Michael Maroney, New Community Development Corporation; Louis Wright, Park Avenue Square, L.P.; George Achola, Omaha Housing Authority; and Thomas Judds, Midwest Housing Equity Group.
NIFA Staff in Attendance: Robin Ambroz.
Meeting called to order by Robin Ambroz at 10:00 a.m.
Robin distributed copies of the report from the April CRANE meeting and supplied the list of current CRANE applications for Low Income Housing Tax Credits.
Stephen Center

Robin stated that NIFA continues to review the application and information submitted for the Stephen Center project. Julie Stavneak from J. Development stated that the licensure process for the Stephen Center was going well and they are anticipating the temporary license will be received by the end of May. They have also received permission from Health and Human Services to begin operation of the HERO program again. Julie stated that they are compiling the information that the Nebraska Department of Economic Development has requested for the CRANE set aside of Affordable Housing Trust Funds.

Prime Development

Representatives from Prime Development were not able to attend the meeting as they were meeting with Region 4 to discuss the possibility of Region 4 serving as the General Partner in the proposed developments within their region. Prime Development continues to prioritize the South Sioux City and Columbus projects.

Omaha Housing Authority

NIFA has received the full LIHTC applications for the two OHA projects, Crown Creek and North Omaha Affordable Homes. Robin stated that NIFA would begin their review of the applications. George Achola from Omaha Housing Authority stated that the City has committed CDBG funds for Crown Creek and the only other source of funding for both projects is the Hawkins Settlement money from HUD.

Park Avenue Square

Robin stated that NIFA continues to review the proposed project in relation to the CRANE guidelines and eligibility criteria. As the group has discussed in previous meetings, the requested amount of tax credits is greater than any one developer can receive in a program year and is also greater than the amount that has been set-aside for the CRANE process. Louis Wright from Park Avenue Square, L.P. stated that the rezoning for the project will be reviewed by the City Council on June 7th and the hearing for the Tax Increment Financing is May 5th.

The research for the Part I for the historic designation has been completed. Louis stated that they continue to look for additional development opportunities in the area, including commercial property to the northeast of the proposed development. They have an option to purchase the Selma Apartments, which are located to the north of the proposed Park Avenue Square development. Louis said they would propose to rehabilitate the Selma Apartments into market-rate units.
Miami Heights Village

Robin asked Michael Maroney from New Community Development Corporation (NCDC) to give an overview of the proposed Miami Heights Village project. Michael reviewed the Miami Heights redevelopment plan and showed maps of the area. He said that the proposed project was part of an overall redevelopment plan for the Miami Heights area that already includes new single family homes. A new commercial development is also included in the plan. The proposed Miami Heights Village will include 50 units for seniors who are 62 and older. Michael stated that they are discussing the types of services that could be provided onsite with University Medical Center, Alegent, Charles Drew Health Center, and the Eastern Nebraska Office on Aging. Robin stated that NIFA staff is completing their review of the application.

Cirrus House II

Robin stated that NIFA received a new CRANE application this month. Cirrus House II is the second phase of development that serves persons with serious mental illness. The proposed project includes an additional eight units in Scottsbluff, Nebraska. This project is eligible to participate in the CRANE process as it serves a special needs population. She stated that NIFA staff will begin their review of the application.

Flat Iron Crossing

Robin stated that $500,000 in Super Target Mortgage funds had been awarded for the Flat Iron Crossing development that was reviewed at the CRANE meeting the previous month.

Eastview Addition

Robin stated that $600,000 in Super Target Mortgage funds had been awarded for the Eastview Addition development that was reviewed at the CRANE meeting the previous month.

Meeting adjourned 11:00 a.m.

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