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WELL KEPT INVESTMENTS LLC
2407 Florence Blvd Omaha, NE 68110
2010 N. 20th St Omaha, NE 68110
Facebook, Instagram
Clinton Fairgood
Managing Member - Sole Member LLC
fairgoodc@live.com
+1 (402) 208-6299
No
Single Member Nebraska LLC Clinton Fairgood, Managing Member
New organization that purchased an empty real estate lot at 2407 Florence Blvd in Omaha, NE from the Omaha Municipal Bank on March 4, 2022 with the intended purpose to construct a duplex for affordable housing on the site. I took great care to clean up the site and make it more appeasing for the neighborhood.
Well Kept Investments Project I
400000.0
380000.0
Capital project
I grew up in a single parent home in the Logan Fontenelle Projects near 20th and Paul Streets In Omaha, NE in the 1980's and 1990's prior to being displaced as the area was repurposed. I now own and live home in this neighborhood at 2010 N. 20th St. I also personally own a single-family rental home adjacent to this proposed construction (2403 Florence Blvd). I formed a Nebraska LLC and purchased this vacant lot located at 2407 Florence Blvd on March 4, 2022. I want to provide affordable housing to others who are living the life that I know so well and to inspire one person or many to rise higher and to believe that they can achieve the American Dream. And I fervently want to proactively help to create a safer environment in a safer, well-kept neighborhood, for the children during their formative years and for a single parent or for a married couple as they establish a toehold and move toward financial stability. I want this to be the first of a series of similar construction and contribution.
The real estate lot was purchased on March 4, 2022. The property has been cleaned up in the time since. I have met with a builder and have a project budget that will need to be updated (because of the volatility in construction material costs)after my request is approved.
1.0
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)
Other Quality of Life (i.e., create or enhance natural spaces, mixed uses, parks, safety, etc.) Sustainable Community (i.e., create or enhance housing, services, education, civic uses, recreation, etc.)
To show by example that someone living in this neighborhood can grow and develop as a person who then completes the circle by giving back and investing in the neighborhood.
There is an advantage, I think, for someone living in the neighborhood to have a greater positive impact on the community then from someone as an absentee property landlord or owner.
My experiences as a youth will allow me to communicate more effectively with the current members of this neighborhood and community and I think will allow me to be an active mentor to others. Promoting a 'Let's work together" atmosphere will contribute to a stronger and safer neighborhood. The increase in the number of affordable housing opportunities will help provide the workforce that will be needed as more businesses open in the targeted area 6 to 10 blocks east of my construction.
My construction project is located within a qualified census tract and my involvement is directed toward helping to make this area a sustainable community. It provides needed housing and it provides a workforce for adjacent business growth.
The job creation is two fold. Immediately it will be for a contractor to build my duplex project. Longer term it will be to provide additional people living in the area who can fill future job needs in the downtown or redevelopment Makerhood area.
There are not any direct permanent jobs being created. The additional housing does help to provide the workforce supply needed in the adjacent area businesses.
The temporary construction jobs will include a general contract and one or more people in each of the trade areas involved in the construction project, i.e. plumbing, electrical, carpentry, bricklayers etc.
The wage levels should at least meet the minimum requirements such as those in the Davis Bacon Act or similar qualifications and standards involved with this type of funding.
My communication to this point has been with a General Contractor who has build similar projects in this immediate neighborhood. I really want and intend to develop long-term relationships with professionals in the construction industry so as to replicate this type of project in the future. Those in the industry already living in the neighborhood or who want to move into and become a part of the neighborhood will be ideal candidates.
It will first and foremost be safe and secure living conditions from someone who can daily monitor and positively impact this community and by someone who himself lives in the neighborhood. It provides needed additional housing. By increasing the number of residents in the neighborhood it helps to provide additional workforce for the surrounding area. My background and experience allows me to interact with both the adult resident(s) and the child resident(s) in a way that I can encourage them to develop their own skills or education and seek to rise higher.
The additional housing will help further the population growth in this neighborhood. My living in the neighborhood as well promotes that I will remain active in maintaining well-kept properties that will [should] inspire other property owners to also maintain their property. And being active in the community will promote a safer environment, especially for the children, so they might have greater upward mobility potential. I can and will make a difference.
Maybe the new concept is for someone having grown up in the neighborhood, and who now lives in the neighborhood, and for someone now also willing to invest in and give back to the neighborhood will lead others to follow a similar path and create long-term sustainability.
I think that increased safety over what I experienced in growing up in the area will allow the children to focus on their education and become active participants in the schools additional program opportunities. And by their parents obtaining jobs in the immediate surrounding businesses they might also be encouraged to have their generation exceed the success of their parents. It can both provide both the feeling of security and the feeling of possibility.
It can be measured by improved educational achievements and by those initially renting a property to themselves become owners and active participants in this community.
My stated desire is to have this be my first of many similar construction projects. I think others will watch me and in-turn strive to to match my contribution and successes. Then we all benefit.
No
No
Lot 7. Block 4 52.66 x 140 in Lake Add, a subdivision in Douglas County, NE 2407 Florence Boulevard Omaha, NE 68110. Currently an undeveloped real estate lot
Within one or more QCTs
N/A at this time. More information can later be provided.
Yes
Yes
No
No
No
Estimated prices from an established general contractor who works regularly in this neighborhood. Material costs have fluctuated significantly since the Covid outbreak and the actual market prices nearer the construction time will necessarily impact the final cost.
No
The construction budget can quickly be finalized once the project is approved and advances to the next stage. The project would have cost more in the summer of 2021 then it would now cost because of the construction material pricing spike. The cost for these materials in building the project 12 to 18 months from now cannot be specifically determined at this date.
The grant funds will be combined with my personal funds to pay for the construction of the project. The real estate lot has already been purchased.
Yes
This proposal will generate rental income sufficient to pay for annual insurance and real estate tax expenses going forward while also allowing me to keep the property in an immaculate condition. Profits generated from this project will assist me in constructing similar future projects which will help sustain the neighborhood.
Centris FCU has been supportive and has pre-approved funding for me. However their lending commitment, as is standard, expires after 45 days. An ongoing long-term relationship with Centris FCU is anticipated in order to allow me to reach my stated goals of actively promoting this neighborhood with multiple similar projects. I am not aware of other incentives available, but will continue to explore any such opportunities that will help me achieve these goals.
I understand that this grant application will not be determined until the summer of 2023. While I am confident I can at that time obtain additional funding, if needed, the chronological order to me is that I must first learn about the approval of this grant request.
If this grant is not approved then I will most likely have to build a single family rental home instead of duplex and then take years longer to fulfill my desire to replicate the project with additional builds and therefore not be able to impact the neighborhood as quickly as I desire.
I think this proposal can be duplicated going forward with this project being the impetus to accomplish the goal. If the grant amount requested is too great in amount, then the project can be completed as a single family rental construction at an estimated cost of $250,000 [by the general contractor] instead of the $400,000 estimate to complete the project as a rental duplex construction.
Please see the comments under scalability.
I have already purchased the real estate lot in the name of the LLC. I have already personally borrowed money against my other owned real estate to fund my forecasted 5% of the project costs and I will contribute these funds to the LLC for the project when it becomes necessary or a requirement for me to do so.
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