Lantex LLC: Operation Rehab

ID

5

OrgName

Lantex LLC

PhysicalAddress

3217 Ohio St Omaha, NE 68111

MailingAddress

Website

SocialMediaAccounts

Name

James Overton

Title

President

EmailAddress

jroverton3@gmail.com

Phone

+1 (402) 612-7910

Team

TeamExplanation

OrganizationalChart

OtherCompletedProjects

We have provided commercial and residential housing/ single family homes in North Omaha for over 15 years

ProposalTitle

Operation Rehab

TotalBudget

2000000.0

LB1024GrantFundingRequest

2000000.0

ProposalType

Capital project

BriefProposalSummary

There are many many dilapidated homes/Commercial Properties in North Omaha that are condemned or on the verge of condemnation. We would use these funds to acquire and rehab these homes into livable and affordable housing.

Timeline

Within the next 2 years

PercentageCompletedByJuly2025

0.99

FundingGoals

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)

Community Needs

Other Infrastructure (i.e., develop or improve broadband, business districts, roadways, sewer, etc.) Policy (i.e., develop or improve context-sensitive education, finance, health, training, zoning, etc.) Sustainable Community (i.e., create or enhance housing, services, education, civic uses, recreation, etc.)

OtherExplanation

ProposalDescriptionAndNeedsAlignment

There currently is a significant housing shortage. We get calls daily for housing

VisioningWorkshopFindingsAlignment

Thru this program we pan to teach the individuals how to obtain and maintain a home

PrioritiesAlignment

Housing is desprately needed

EconomicImpact

We will need construction workers and maintnace men to maintain the properties

EconomicImpactPermanentJobsCreated

30-40

EconomicImpactTemporaryJobsCreated

50

EconomicImpactWageLevels

$15 - $25per hour

EconomicImpactAlignProposedJobs

This Grant will allow us to continue our long term plan of providing affordable housing

CommunityBenefit

Many of the homes we are looking to acquire are in terrible shape. We specialize in turning trash into treasure

CommunityBenefitSustainability

This will give the potential tenants something to be proud of

BestPracticesInnovation

we are enthusiastic to show what North Omaha is capable of with the right investments

OutcomeMeasurement

Educating these individuals on credit matters and money management is key to long term growth of the community we live in

OutcomeMeasurementHow

By the number of renovated homes and individuals with housing

OutcomeMeasurementCoinvestment

Yes we plan on using these funds to make long term reoccurring investments in the community

Partnerships

Yes

PartnershipsOrgs

Omaha Land Bank, The City of Omaha, The Omaha Housing Authority

PartnershipsMOU

Displacement

No

DisplacementExplanation

PhysicalLocation

Numerous

QualifiedCensusTract

Within one or more QCTs

AdditionalLocationDocuments

N\A

PropertyZoning

No

ConnectedToUtilities

ConnectedToUtilitiesConnected

No

ConnectedToUtilitiesUpgradesNeeded

No

DesignEstimatingBidding

No

DesignEstimatingBiddingPackageDeveloped

No

DesignEstimatingBiddingCostsDetermined

Community Based Research

GeneralContractor

No

GeneralContractorPublicCompetitiveBid

GeneralContractorPublicCompetitiveBidWhyNot

RequestRationale

The average price of these dilapidated homes we plan to rehab is 20k to 40k with a minimal estimated rehab cost of 10k to 30k . with these numbers we estimate that we should be able to rehab and place 50 homes in North and South Omaha

GrantFundsUsage

The funds will go towards the acquisition and rehabilitation of the properties

ProposalFinancialSustainability

Yes

ProposalFinancialSustainabilityOperations

Purchase Acquisition Rehab Placement

FundingSources

FundingSourcesPendingDecisions

FundingSourcesCannotContinue

NO

Scalability

Yes

ScalabilityComponents

It can be implemented over time

FinancialCommitment

We have been providing homes and jobs in the community for over 30 plus years

ARPAComplianceAcknowledgment

1.0

ARPAReportingMonitoringProcessAck

1.0

LB1024FundingSourcesAck

1.0

PublicInformation

1.0

FileUploads

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 Request Rationale Documentation Schedule