Business
1:00 am
Thu June 12, 2014

Omaha's purchase of 68 acre site for industrial development on hold

Negotiations between the city and northeast Omaha landowners for a 68-acre site are on hold.

The city has been negotiating with landowners to buy the land from 11th to 16th Streets and Ames Avenue to Locust Street. That process has been extended 90 days so the city can review an environmental study done at the site.

That study found the clean-up costs of the site could be tens of millions of dollars more than the one-point-nine million dollar cost the city agreed to pay.

Cassie Seagren, Mayor Jean Stothert’s Deputy Chief of Staff for Economic Development, says the site is favorable for industrial development.

"You have a large tract of land to be able to attract all different types of industries, as well as sizes of potential users. In addition, there’s some rail, and working with the rail provider, it does look like if this project would move forward in terms of development to be able to offer a company that does need rail access that opportunity."

Seagren says it’s also an opportunity to bring jobs to north Omaha, and for existing businesses to expand. The financing for the project would come from city and state funds.