297
Mount Moriah Baptist Church
2602 North 24th Street Omaha, NE 68110
www.mtmoriahomaha.net
Dr. Ralph Lassiter
Corporate President
pastorlassiter@gmail.com
+1 (402) 350-4800
Yes
See Attached
See Attached
• In 2001, Mt Moriah developed a 21-unit low income senior housing apartment, Concord Square, located at 22nd and Paul Streets in North Omaha. This is a HUD202 funded project. • In 2022, Mt. Moriah developed and opened the Moriah Heritage Center, a 500 sf multi-purpose space that seats up to 100 for community meetings, music performances and community meetings. • We are in the process of developing a 40-unit mixed-income apartment project in North Omaha. Complete building plans have been created, full review by Omaha Planning has been completed as well as construction and operational budgets.
Moriah Centre
3982875.0
3500000.0
Capital project
The Moriah Centre is a commercial development that will leverage many of the opportunities identified in the SWOT Analysis including its location in North Omaha’s commercial district: addressing the lack of commercial & office space, utilizing a vacant parcel for community benefit and leveraging entrepreneurial efforts to stimulate economic activity. This 13,250-sf project is sited on property owned by Mt Moriah Church at 2601 N. 24th Street and a vacant lot previously owned by the City of Omaha. It will offer 4 commercial bays fronting 24th Street, 6 spaces that can be used as business incubator space or training rooms, and a multi-use space that will seat 200 auditorium style, 140 banquet style and accommodate youth activities on its half-court basketball court. A minimum of 10 jobs will be created not including those created by new businesses. In addition, as an intergenerational space, youth and more senior adults will have opportunities to interact and learn from each other. This project is not a new idea as conceptual design has been completed by our architect, and a pre-planning meeting has been conducted with Omaha Planning Department
See Attached
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 Infrastructure (i.e., develop or improve broadband, business districts, roadways, sewer, etc.) 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.)
As stated in our proposal summary, The Moriah Centre is a commercial development located in North Omaha’s commercial district and will leverage many of the opportunities and mitigate weaknesses identified in the SWOT Analysis including (1) address the lack of commercial & office space; (2) utilize a vacant parcel for community benefit; and (3) leverage entrepreneurial efforts to stimulate economic activity.
As stated previously, this proposed development aligns directly with community needs identified during the Visioning Workshop. It will address the lack of commercial and office space; impact the overall attractiveness and vibrancy of North 24th Street and in turn attract other investments within the North Omaha community resulting in sustainable economic growth.
This development directly supports the key objectives of being transformational, stimulates fundamental change in North Omaha and will impact the degree of long-lasting economic growth.
A minimum of 10 jobs will be created not including those created by entrepreneurs who will occupy incubator spaces.
During construction, wages will be in compliance with Davis-Bacon requirements.
This project offers a range of community benefits: • Eliminates a parcel of vacant land • Provides a minimum of 10 full-time jobs. • Offers 24th street frontage for 4 new businesses including a small restaurant/coffee shop and therefore enhances the physical appearance of the Historic North 24th Street District. • Attract further investment in the community by adding to the stock of businesses that draw customers to North Omaha, which will benefit other businesses. • Offer a space with a capacity of 200 individuals for conferences, larger community gatherings, training and seminars and intergenerational activities.
According to the Institute for Sustainable Communities, “A sustainable community takes into account, and addresses, multiple human needs . . .” and “manages its human, natural, and financial capital to meet current needs while ensuring that adequate resources are available for future generations.” This development addresses the need to create new businesses, create jobs, add to the available services within North Omaha and provides a facility that meets the needs of youth for after school and summer activities as an alternative to engagement in illicit activities; provides a space for large community meetings and conferences and arts performances.
A substantial amount of research describes a widening “generation gap” between young people and older adults. Researchers suggest that many young people shy away from older adults because they have misconceptions about the aging process. Older adults, on the other hand, often don’t feel appreciated by young people and primarily seek out the company of those their own age. Though this pattern of age segregation has become routine in our culture, research has linked it to a decline in life satisfaction among older persons. It has also been shown to increase negative stereotypes younger people have toward the aged. This facility will offer intergenerational programming that will provide opportunities for cooperation and interaction between generations. Organized gatherings will allow older adults and youth to come together to share time, experiences and activities that will close the generation gap and benefit both young and old. There are very few programs of this nature in North Omaha.
Naturally as developers we will track the typical metrics of Cap Rate, Net Operating Income, Internal Rate of Return, Loan-to-Value Ratio and Cash-on-Cash Return. In addition, we will measure tenant retention, tenant experience or satisfaction and new business development as indicated by incubator businesses moving into more permanent locations. Regarding the intergenerational nature of this project, we will conduct opinion surveys of all program participants.
Financial indicators will be measured by the project accountant; non-financial indicators will be measured by the project administrator.
Yes
See attached project team file
No
2601 North 24th Street & 2238 Ohio Street
Within one or more QCTs
Yes
Yes
Yes
No
No
No
LB1024 grant funds will be used to construct the Moriah Centre.
Yes
Retail, commercial and business incubator space will be managed by a commercial real estate management firm. Initial discussions have been conducted with Seldin Realty that currently manages our apartment complex – Concord Square. Intergenerational activities and use of the multi-use space will be managed by full-time facility/program manager and volunteers from Mt Moriah Church.
Other funding sources anticipated for this proposal: • Tax Increment Financing • Spark Capital loan • Philanthropic funding
Project is not scalable
100000
1.0
1.0
1.0
1.0
Additional Location Documents (see application for list) Data table of uses (breakdown of how the requested funds will be used for your proposal) Organizational Chart Plans and detailed descriptions, including pictures and a map of the site location/surrounding area Pro Forma Proposal Budget/Sources and Uses Schedule