77
White Lotus Group
4615 North 72nd STreet Omaha, NE 68134
10404 Essex Court, Suite 101 Omaha, NE 68114
www.whitelotusgroup.com
Arun Agarwal
CEO
aagarwal@whitelotusgroup.com
+1 (402) 346-5550
Yes
White Lotus Group Team: Arun Agarwal, CEO - 20 years experience with primary offices in Omaha. Has completed over $500MM worth of projects. Drew Sova, EVP/General Counsel, former partner at Stinson Law firm, oversees development execution, Andrea Macias, Development Coordinator. Eric Wolfe, AIA/Preconstruction Mgr (40 years experience), Alex Bullington (Project Manager - 7 years), Ronco Construction - 46 year old company based near project site with Zak Olsen - CEO, 20 year construction experience. E&A Consulting Group - Civil Engineer and RDG Planning - ARchitect
See Attached.
Recently completed an environmentally challenged site down the street, 60th and Sorensen and turned into a $40MM development including 120 units of senior affordable housing, retail and corresponding businesses. This included managing 50k tons of buried debris that needed to be managed. White Lotus Group, headquartered in Omaha, with offices in QCT, has been actively developing projects in North and South Omaha throughout our history. Projects that may be of note include, but limited to: 30 Metro Place, Prairie Springs, Turner Court Apartments, 1401 Jones (new public library), RTG Medical (NMTC - corp HQ in Fremont), Hotel Deco, Ames Plaza, Ames Innovation, Ames Rows, Learning Community of South Omaha, Blackstone, Baxter Auto, Nebraska Realty. Recent Awards: State of Nebraska DHHS, DMV and Veterans Campus in GI. Accomplishments include approximately $100MM of investments in north omaha with no philanthropy awards. Over 500 units of affordable housing totaling housing for nearly 2000 people. We have aided in over 1,000 jobs created or positions earned since inception within Omaha alone.
MERCURY. powered by BENSON
9865750.0
3365750.0
Capital project I do not know
The project is represents the the northwest gateway to north omaha as it is adjacent to the Benson Golf Course, and is proximate to the Benson district. The property formerly served as Omaha's drive in move theater and then as the Practice Tee driving range. Already, the site has begun moving its over 300,000 cy of excess dirt to area redevelopments (Crossroads) which has kickstarted the redevelopment of the site that will provide necessary employment, housing and retail opportunities to the market. Additional opportunities for the fill would be to assist in bridging the City of Omaha with road and required dirt improvements on North 16th Street for an anticipated movement of the truck route. Conversations with ownership and the city have been ongoing. The project is presented as an opportunity to prepare the site for a variety of new business owners to place their businesses along east side of 72nd and augment economic activity to the area. Homeowners on the east side of the property applaud that redevelopment activity as it will improve the vacant 20+ acre parcel.
See Attached Schedule Grading is ongoing - through 2Q23 Preliminary Plat Submission - 1Q23 Civil Infrastructure work 2Q23 to 4Q23 TIF Redevelopment Agreement 1Q23 Final Plat recording - 2Q23
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)
Multimodal Transportation (i.e., enable connectivity through driving, biking, taking transit, walking, and rolling) Other 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.)
We believe that in order to support North and South Omaha, focus cannot be on demand coming from only within those two geographic areas. Barriers need to be removed to encourage the entire city and its citizens to transverse North and South OMaha and enhance the overall demand of the area businesses and services. This will continue to take time and effort, and we believe that those steps need to be at the footsteps of those intersection points. This is the western most border of Northeast omaha. Lets make this nice then move east and north (ie. 60th and Sorensen) and remove negative perceptions.
This project is on a major North/South arterial road. Accessibility to the site is strong. The site sits higher, and will be provide great opportunity for the introduction of a smart district and could include businesses to encourage that. Anticipated uses from the infrastructure investment would be integrated housing and retail opportunities which will serve as 24 hour vibrant districts that not only are catalysts for activity, but also serve as deterrents for negativity associated with the area.
see SWOT Analysis attachment
This project aligns by: Sustainable Community : Should include mixes of general business uses with safe housing Transportation: Being along the east side of 72nd this offers a safe and easier means of accessibility for ingress/egress. Infrastructure: This creates a unique opportunity for a district that could include the variety of uses discussed in the strategic priorities. ARPA Funding facilitates the viability of each of the subsequent uses that would be unfeasible as presented by the costs required to prepare the site.
250-350
200+
100
$18 to $40
Currently, a north omaha trucking operation (Cal Erwin) is part of the haulers taking dirt from the site to Crossroads. That engagement was based upon a traditional bid/aware. The delivery of the subsequent general construction will include set asides for area contractors and disadvantaged businesses that our team has vast experience in implementing.
This project provides a blank slate and serve as a template for developing an entire district successfully, sustainably and with the input and guidance of the community it serves. It will provide a district, neighborhood and housing. This model has been successful throughout the world and equally important shows that investment in the area has a return.
This proposal creates a variety of opportunities. It creates jobs, it creates housing and it creates services. The combination suggests that 1+1=3, or better 11. The ARPA investment mitigates the risk and an ongoing barrier that economists have long shown: The cost to build is the same regardless of the location. The current capacity for rent or purchase is lower. Bridging that is the goal. The adjacency to the Benson Golf Course presents opportunities for connecting cultural / family activities with everyday life.
This development would not be a new concept (think Aksarben/blackstone/old market), but with a community Golf course attached; however, utilizing federal and state programs to facilitate uncompromising design and energy sustainability could take investments further. In our experience, we focus on a financially strong anchoring use and develop around that.
Outcomes should be measured by overall investment into the project (outside of ARPA) and subsequent sales tax revenues generated. New jobs created. Housing units created. An ancillary benefit should be ongoing expansion of our skilled labor force in the area by offering set aside or encouraging smaller, disadvantaged businesses to participate.
Chamber, City, Department of Revenue (QUANTITATIVE), and area residents/consumers (QUALITATIVE)
100% - we believe that every project we have completed has proven that investing in the area can be successful. Flattered we believe that many groups follow our investments given our track record.
Yes
LUND Company will serve as our marketing arm. We have also worked alongside empowerment network on updating all of our investments in north omaha. Our General Contractor has an apprenticeship program.
General contractor and our development firm have formalized set asides previously.
No
4615 N 72nd (plus parcel behind) Omaha, NE 68134 Former drive in movie theater and last used as a driving range.
Within one or more QCTs
see attached
Yes
Yes
Yes
No
Yes
Yes
Yes
The site which sits along the western border of north omaha has been challenged with over 300,000 cy of excess fill that the former movie theater was demolished around. The cost to move the fill has been prohibitive to cover the development risk of the 20+ acre site. (See attached appraisal relative to cost)
Site preparation -Engineering, Grading, utilities, paving, landscaping, Legal and Marketing
Yes
Our firm has a CPA/Controller that works with our engineering and construction management staff. Upon updating engineering with city of omaha public works approvals and bonding, a general construction contract alongside engineering and marketing fees defined, we would see to submit payment applications with associated lien waivers (approved by 3rd party engineer) for payment or reimbursement. That would continue until final pay application and payment.
The project should qualify for Tax Increment financing. Additionally, we plan to invest as well as close on debt financing to facilitate the entire project.
i3 Bank - Debt (subject to ARPA Approval). DANA Partnership - Equity (pending ARPA Approval), City of OMaha (TIF) - 1Q23
ARPA sources would be required; and all other sources we feel are secured.
The project could be narrowed in scope (ie. grading and utilities only, no paving); however, would likely dilute its impact.
Each part of the site infrastructure pkg could be done individually; however, would not have as significant of an impact and would impair time.
The owner has invested significantly in the acquisition, moving fill, engineering which total millions of dollars. Additional commitments to guaranty the TIF and Debt sources are also in place.
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) Documentation of site control (proof of ownership, option, purchase contract, or long-term lease agreement) 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