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inCOMMON Community Development
1340 Park Ave, Omaha, NE. 68105
1340 Park Ave, Omaha, NE. 68105 &
inCOMMONcd.org
Facebook.com/inCOMMON Twitter.com/inCOMMON Instagram.com/inCOMMONcd Linkedin.com/company/inCOMMON-community-development
Andrew Whealy
Housing Project Manager
andrew@incommoncd.org
+1 (402) 290-5956
Yes
Ismail Ismail - inCOMMON Housing Acquisition and Community Engagement Coordinator Ismail is a licensed real estate agent fluent in four languages (Somali, Swahili, Arabic, and English). He has provided homeownership services to new Americans for the past two years. Ismail holds an Associates degree in Finance from Metropolitan Community College, and has a strong background in marketing and Fiserv. Andrew Whealy, JD - inCOMMON Housing Development Corporation Project Manager Andrew has worked in the field of community development as an expert legal advisor for the past 14 years. Prior to joining inCOMMON in May 2022, Andrew was a partner at a national law firm where he primarily represented banks, investors, community development entities and developers in structuring complex commercial loan and equity investments which utilized various federal and state incentive programs including new markets tax credits, historic tax credits, low-income housing tax credits and reinvestment credits. Andrew has a Bachelor's degree in History from Yale University and a juris doctorate from the University of Iowa College of Law. Christian Gray, MPA, MSUS – inCOMMON Co-Executive Director Christian has worked in the field of national and international community development for 17 years and has served in the role of Executive Director at inCOMMON since 2006. He holds a double Master’s in Public Administration and Urban Studies from the University of Nebraska at Omaha. Christian has played a lead role in inCOMMON’s LIHTC projects, and is pursuing a Certificate in Rental Housing Development Finance through the National Development Council (estimated completion date: September 2022). Rachel Bahl, MPA – inCOMMON Co-Executive Director Rachel joined inCOMMON in 2016 and was promoted to Co-Executive Director in 2021. Before coming to inCOMMON, she worked for City Impact in Lincoln, Nebraska as the Development Associate. Rachel has a Bachelor’s degree in English from Nebraska Wesleyan University and Master’s in Public Administration from the University of Nebraska at Omaha. Rachel has played a supportive role in inCOMMON’s LIHTC projects. In addition to these current staff members, the following inCOMMON Board Members will play key roles in this initiative: George Achola – Vice President and Counsel at Burlington Capital Real Estate; Board Member at Nebraska Finance Authority Michael Beverly – Controller at College of Saint Mary Melanie Phelan – Co-Founder and President at Evergreen Enterprises
inCOMMON’s organizational chart is headed by our Board of Directors who provide oversight of the co-Executive Directors, Christian Gray and Rachel Bahl. The co-Executive Directors share oversight of the organization’s three functional categories: Administration, Programming, and Fund Development. The attached organizational chart is formatted as an “accountability chart,” where the direction of accountability flows from right to left.
inCOMMON is currently renovating 75-units of affordable housing through the Low-Income Housing Tax Credit (“LIHTC”) program. This $16MM project includes the Bristol Apartments (1029 Park Ave, Omaha) and Georgia Row Apartments (1040 South 40th St, Omaha). In addition to leveraging LIHTC, the income sources secured for this project included Historic Tax Credits, Tax Increment Financing, and over $1.5MM in philanthropic sources. Both buildings are scheduled for completion July 2023. inCOMMON’s track record also includes the successful development, ownership, and operation of two community resource centers (1340 Park Ave, Omaha, and 1330 North 40th St, Omaha). Both of these centers serve as neighborhood-based hubs where area residents gather to build relationships, receive workforce training, and organize efforts toward neighborhood change. We invite you to further explore our impact here: tiny.cc/inIMPACT
The Poppleton
32416391.0
20157722.0
Capital project
inCOMMON Community Development is developing the vacant 1.1 acre parcel located at the corner of Park & Poppleton ("The Poppleton") (1303 Park Avenue, Omaha, Nebraska 68105) into a mixed-use affordable housing and commercial space. The Poppleton will bring 108 units of quality, affordable housing to an area desperately in need of affordable housing stock, as well as over 8,000 square feet of commercial space that will provide jobs for an area in need of job creation. The Poppleton will serve as a platform for a broader, comprehensive community development strategy as the project site is on the same block as inCOMMON’s Park Avenue Community Resource Center, and the wide range of programs available there, as well as the soon-to-be opened OneWorld Health clinic. The east building will be a residential LIHTC project with approximately 51 units, all reserved for tenants at or below 100% of AMI, with no less than 40% of units reserved for tenants making 60% AMI or less. inCOMMON will be applying for a LIHTC tax credit allocation for this scope of the project. The west building will be a mixed-use project with approximately 8,000 square feet of commercial space at street level and approximately 57 residential units. The commercial space will be leased to commercial tenants designated as small-disadvantaged businesses (including WOSBs and EDWOSBs). A portion of the project budget will be reserved to provide rent subsidy for up to two years for the commercial tenants to encourage new business developments. inCOMMON will seek new markets tax credit incentives for the west building, as well as TIF and PACE financing structures (for both the east and west buildings). In addition, inCOMMON has soft commitments from two local lenders (American National Bank and Security National Bank) for both construction and permanent financing for both project sites as well as SPARK Capital for additional bridge financing as may be required.
September - December 2022 – Predevelopment and Acquisition. East Side – Engagement of architect and GC and preparation of detailed plans and specifications and budget in anticipation of preparation of tax credit application for credits in spring. TIF/PACE financing applied. Letters of intent for bridge/construction and permanent financing lenders completed. West Side - Engagement of architect and GC and preparation of detailed plans and specifications and budget in anticipation of getting NMTC credit investors committed winter/early spring 2023. TIF/PACE financing applied for. Letters of intent for bridge/construction and permanent financing lenders executed. Completed acquisition of entire parcel (letter of intent with seller is executed (see attachments) and we are awaiting confirmation of our acquisition fund approval from Front Porch investments). January 2023 – June 2023 - Predevelopment continuing; West Side Financing Closing Completed East Side - TIF/PACE Financing confirmed. NIFA application completed and submitted. GC and architect plans finalized. Pre-work on site started. West Side - TIF/PACE Financing confirmed. Financing Closing Calls for West side financing closing; predevelopment GC work begun (clearing; site prep); NMTC closing June 2023. June 2023 - December 2023 - East Side Financing Closing; West Side Ongoing Construction East Side – NIFA application completed and awarded; financing investors chosen and GC and budget confirmed. Financing closing calls start in October/November with closing in December 2023. West Side - Ongoing construction December 2023 - July 2024 - East Side Ongoing Construction; West Side Completion East Side - Ongoing Construction with shared courtyard area/spaces finished. West Side - Ongoing Construction. July 2024-December 2024 - East Side Construction Ongoing- West Side Completed and Operational; East Side – Ongoing construction West Side – Ongoing construction with c/o December 2024 December 2024- June 2025 – East Side Completed; The Poppleton fully Operational East Side - Ongoing Construction with a C/O of June 2025; West Side - Residential and commercial tenant lease-up completed.
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Fundamental Change (i.e., a proposal that will continue to elevate North or South Omaha's presence and perception within the region, significantly improving the lives of area residents through physical development) Long-Lasting Economic Growth (i.e., a proposal that will foster gainful employment opportunities and financial investment in the area, leading to the creation of generational wealth and widespread economic vitality in North and South Omaha) Transformational (i.e., a proposal that will help energize, recharge, or spur significant and favorable advancements in North or South Omaha's function or appearance)
Sustainable Community (i.e., create or enhance housing, services, education, civic uses, recreation, etc.)
Our neighborhood continues to face an affordable housing crisis that threatens to curtail the health, wellbeing, and future of low-income residents. According to the Assessment of Housing Affordability Study (2021), 98,500 households in the larger Omaha/Council Bluffs region need affordable housing of some type to not be cost-burdened, but fewer than 20,000 dedicated units are available (p. 9). Unless affordable housing production is increased, this housing gap will continue to balloon over time, leaving even more housing insecure families vulnerable to displacement and homelessness (p. 47). The Park Avenue neighborhood where The Poppleton will be built is on the front lines of the crisis. About 1 in 3 residents live below the Federal poverty line, and rapid redevelopment in the area has brought many challenges to low-income and minority residents - especially in the area of housing. The neighborhood has the highest population density in Omaha, which makes residents particularly vulnerable to increasing rents. This density also magnifies the impact of affordable housing investments. While redevelopment has brought the capital improvement of many buildings and has attracted middle-income residents to the neighborhood, low-income residents are regularly displaced from their homes, and are increasingly “priced out” of the area altogether. Although it is extremely difficult to track displacement data, inCOMMON’s “on the ground” presence for the past 15 years within Park Avenue has given it a unique vantage point to observe the changing housing dynamics. In 2015, inCOMMON conducted an Affordable Housing Attrition Survey that estimated approximately 200 individuals were directly affected by the loss of affordable housing between 2012 – 2015, and it is estimated that this number has significantly increased since the survey was conducted. When a family is displaced, they lose much more than just housing. Displacement means a loss of access to transportation, support systems, schools, healthcare, work, local amenities, and all of the safety and stability we associate with the concept of “home.” Frequent moves, difficulty paying rent, and eviction have a devastating impact on mental and physical health. Children lose academic ground when forced to change schools. The Poppleton will help address some of these neighborhood dynamics of disinvestment and displacement. The project will bring brand new housing construction to an area bereft of new infrastructure and to a neighborhood which has the highest population density in Omaha-metro area. The project will provide for over 100 units of quality, affordable units benefitting low-income neighbors where the median household income is $33,330. In turn, these units will provide healthy, quality, and affordable housing for over 150 tenants (based upon the mix of multiple bedroom configurations) per year, ultimately resulting in reduced housing instability and homelessness, increased education and employment success, and increased health outcomes for the neighborhood. In addition, the retail and commercial space created on the west parcel will increase the number of temporary and permanent jobs available to neighbors, increasing economic viability and sustainability for the neighborhood where 30% of adults and 41% of children live below the Federal poverty line and 25% of residents age 25 and older have no high school diploma.
The location of this project (2911 Poppleton Ave, Omaha, NE 68105) is an area strategically oriented in proximity to areas with strong employment concentration and reliable bus and ORBT transit but with old and insufficient housing inventory and infrastructure. The Poppleton as a newly constructed facility on a currently vacant lot, meets the LB 1024 identified need for updated infrastructure and resources and utilizing empty lots. In addition, the jobs created from the 8,000 feet of commercial space, will help spur economic development and community empowerment in an area marked by nearly 4x the unemployment rate of the rest of the state. Finally, the location of The Poppleton on the same block as inCOMMON’s Park Avenue Community Resource Center, and the wide range of programs available there, as well as the soon-to-be opened OneWorld Health clinic, reflects the leveraging of community resources in service of the tenants.
This project aligns with several priorities identified within LB1024, including: 1. Responding to deepened existing disparities resulting from the disproportional effects of COVID-19 within low- and moderate-income and minority communities 2. Targeting resources within Qualified Census tracts geographically situated in North and South Omaha 3. Emphasis on targeting a portion of resources toward housing needs and wealth-building among minority populations effected by historical practices such as redlining Additionally, this proposal aligns with the following goals identified in the “Omaha Housing Affordability Action Plan” (2022): - Increase the types of housing to meet current & future needs (Goal 1) - Ensure all parts of the city have affordable housing (Goal 3) - Address housing instability (Goal 5) - Finally, this proposal aligns with the following goals outlined in the “Housing Affordability in the Omaha and Council Bluffs Area” assessment (2021): - Accelerate affordable housing production (Goal “B”) - Intervention against the negative impacts of gentrification (Goal “E”)
Up to 75 construction jobs which will be hired at a fair labor wage standard as required.
Based upon the 8000 sq feet of commercial space up to 50 permanent jobs may be created.
up to 75 construction jobs
These would be reasonable wages and fair labor law standards for both construction and permanent based upon the type of business leasing the space.
It is a priority of this project to hire contractors located within the Park Avenue neighborhood. As we have done on the Bristol-Georgia apartments complex located in the same neighborhood, we will seek South Omaha-based contractors. We review the sub-contractor list provided by the general contractor to ensure that bids provided are reflective of local neighborhood contractors. In addition, we have budgeted for up to two years rent reduction after completion for new/starting businesses to lease the space to permit local neighborhood business development.
The direct community benefit of this project will be threefold. First, the project will produce over 100, quality affordable housing units for previously excluded individuals/families the opportunity to have new, safe housing. Second, the commercial space will provide opportunity for economic and local development, with a priority given to new women owned and minority owned businesses through a reduced rent subsidy. Finally, as aforementioned, this project will produce both short-term (via construction) and long-term (via commercial space tenants) job opportunities.
In addition to the benefits listed above, this project will address the need for leveraging vacant properties, as identified in the Visioning Workshops. Revitalizing vacant properties results in increased tax basis for communities, stronger property values for neighboring homes, neighborhood beautification in the removal of unkempt lots, and oftentimes reduced crime activity. Furthermore, investments in housing are correlated with increases in regional economic growth, as well as an increase in overall community health and well-being. As noted in the Affordable Housing Study: - $8 million in local income and 122 jobs are generated from every 100 units of affordable housing. - Families in affordable housing are able to spend five times more on healthcare, 30% more on quality food, and two times more on retirement savings. Finally, the economic benefit from the commercial spaces will increase local spending in the neighborhood and also increase the retail and tax basis for the area.
It is all too common for lower-income residents to become vulnerable to displacement from their own community altogether. Important equity issues are at stake as this phenomenon disproportionately affects people of color. With the goal of both curtailing displacement as well as leveraging market forces toward equitable outcomes, inCOMMON focuses its work within historically disinvested neighborhoods vulnerable to aggressive real estate development. This concept of equitably leveraging market growth in historically disinvested neighborhoods has been applied by the Twin Cities Corridors of Opportunity (“COO”) initiative (Minnesota). With this same recognition that market-driven development in low-income communities oftentimes leaves existing residents vulnerable to displacement, the COO sought to “promote development that advances economic vitality and benefits people of all incomes and backgrounds” (Final Narrative Report, 2014, p. 5). While the development spurred on by the COO was transit-oriented in nature, the concept of leveraging capital improvements in disinvested communities through strategically-designed early intervention tactics can be universally applied. The Poppleton as a mixed-use affordable housing and commercial space owned and operated by a neighborhood nonprofit developer, is in line with the purpose of development seeking to advance economic vitality for all incomes and backgrounds. In addition, its management by inCOMMON, a local, nonprofit is consistent with the LB 1024 mission to keep local funds within the community and not to outside investors.
The Poppleton project seeks to develop quality, affordable units benefitting low-income neighbors. In turn, these units will provide healthy, quality, and affordable housing for almost 200 tenants (based upon the mix of single and multiple bedroom configurations) per year, ultimately resulting in reduced housing instability and homelessness, increased education and employment success, and increased health outcomes. The number of tenants served per year will be measured using standard rental management software maintained by a third-party management company. Additionally, inCOMMON will continue to measure neighborhood-wide adult and childhood poverty levels, owner-occupancy rates, racial and ethnic population shifts, and crime rates. These outcomes are currently tracked using Census data by inCOMMON staff members Rachel Bahl and Christian Gray as well as semi-regular neighborhood surveys which measure neighborhood impact. As it relates to the commercial space, the tenant make-up and focus on women and minority owned businesses, will be measured by the types of tenants chose for the space and based upon the leasing structure as potential profit sharing, the progress of the location on instituting economic development and growth can be tracked. Each tenant will be required to provide annual reporting on employee retention and growth.
These outcomes are currently tracked using Census data by inCOMMON staff members Rachel Bahl and Christian Gray as well as semi-regular neighborhood surveys which measure neighborhood impact. As it relates to the commercial space, the tenant make-up and focus on women and minority owned businesses, will be measured by the types of tenants chose for the space and based upon the leasing structure as potential profit sharing, the progress of the location on instituting economic development and growth can be tracked. Each tenant will be required to provide annual reporting on employee retention and growth.
The Poppleton's commercial activities will provide space for burgeoning new businesses and permit growth opportunities for other neighborhood economic stimulus. Furthermore, the structure of the low income housing and new markets tax credit
Yes
inCOMMON historically, and currently, partners with a wide-array of community-based organizations (in 2021 these organizations included The Big Garden, City Sprouts, Coalition for a Strong Nebraska, Nebraska Civic Engagement Table, Keep Omaha Beautiful, Heartland Workforce Solutions, Goodwill Omaha, Restoration Exchange, Together Omaha, and Omaha Municipal Land Bank). For this project, the following are social service and tenant placement partners inCOMMON has partnered with on previous projects (Bristol-Georgia), and will plan to extend our partnership as it relates to identifying affordable housing tenants: ● Together Omaha – Tenant placement ● Heartland Family Services – Tenant placement ● Lutheran Family Services – Tenant placement ● Community Alliance – Tenant placement ● Refugee Empowerment Center – Tenant placement Staff from these organizations will notify us when they are looking for affordable housing for their clients. Depending on the program the client is in, these groups may send social workers to the apartment as ongoing support for their clients. Additional, prospective partners for this project include Alley Poyner (engaged architect); SPARK (see letter of support from SPARK), OneWorld Health Clinic (see letter of support), and American National Bank (see attached letter of support).
See attached letters of support.
No
The corner of Park & Poppleton, approximately 29th and Park Avenue (1303 Park Avenue; 1310 S 29th. Street; 1306 S 29th Street; Park Avenue; 2911 Poppleton). The location is located in qualified census tract 31055003800.
Within one or more QCTs
Please see attached documents. The west parcel is zoned R8 which is sufficient for our build. The east parcel is zoned R7 and so we will be asking for an exception to get rezoned to R8 to get the desired housing unit density. However, even if we cannot get the exception, we would just scale the project to have less units (under 40), but the project would still proceed.
Yes
No
Yes
No
No
Based upon the current pricing for the construction of our ongoing Georgia/Bristol apartments, in conversation with our general contractor (Griesbach construction) as well as our co-developer (Clarity Development) we have estimated the per/square foot price of the residential and commercial spaces.
No
The requested amount ($20,000,000) is the amount of the project that will need to be raised through donations as additional equity or through non-subsidized (ie TIFF or PACE) permanent and construction debt that will not otherwise be provided by tax credit investors (either through LIHTC or NMTC structure). As interest rates and construction costs continue to rise, the project becomes less tenable if most of the construction costs have to be financed.
The funds will be used directly to provide for the construction costs needed to complete the project and LB1024 grant funds will specifically be used for gap financing needed to develop and construct The Poppleton that will not be provided by tax credit investors, as well as a subsidy amount (not less than $500,000) to be reserved for first time business owners for up to two years of rent subsidy to permit women and BIPOC owned businesses to utilize the commercial space.
Yes
The LB1024 funds will permit the completion of The Poppleton which will be a self-sustaining mixed-used development with ongoing rental income from both housing and commercial tenants. inCOMMON as the developer/owner of the project will benefit from any net economic income from the operations which will go to further support inCOMMON’s general nonprofit, neighborhood investment purposes.
We will be pursuing tax credit incentive programs including TIFF and PACE from the City of Omaha, as well as federal tax credits (low-income housing and new markets) with potential investors. In addition, we have applied for acquisition and pre-development funding from Front Porch Investments as part of their most recent application round (September 2022), for this project (“FPI Funds”). It should be noted, that the funds requested from FPI are separate and distinct from the funds requested under this application, as the FPI funds are for acquisition and pre-development, while our request for LB 1024 funds are for construction and operations.
Front Porch (solely for acquisition and predevelopment) – December 2022
No. inCOMMON’s success in raising supplemental private funds only affects the number of units we are able to construct, not our ability to produce the ones outlined in this request.
Yes, the affordable housing units and commercial space can all be scaled depending on funds raised or the costs of construction.
As noted the east parcel as currently designed, anticipates a rezoning to permit the unit density. If not received, the project will still proceed with less units and/or commercial space.
inCOMMON has devoted one full time employee and a quarter of another employee's time to this project and managing the development. In addition, inCOMMON is raising funds through private donations as well as other grant and financing requests to provide the necessary equity not otherwise raised through tax credit investors or financed through normal construction financing.
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Additional Location Documents (see application for list) Data table of uses (breakdown of how the requested funds will be used for your proposal) Documentation of site control (proof of ownership, option, purchase contract, or long-term lease agreement) Environmental assessment of subject site. Is the property a brownfield site? Organizational Chart Plans and detailed descriptions, including pictures and a map of the site location/surrounding area Pro Forma Proposal Budget/Sources and Uses