Omaha Mayor Jean Stothert calls it a "prime property." Wednesday, the City of Omaha announced it's accepting proposals to redevelop the Civic Auditorium site at 17th and Capitol.
The Request for Proposal (RFP) asks for proposals covering the acquisition, demolition, design, financing, construction and operation of a mixed-use project.
The sale price? Negotiable.
Two years ago, the nearly nine-acre site was appraised at just more than $10 million - after demolition of the auditorium.
Mayor Stothert says it's the right move.
"[Repairs and upgrades would] cost at least $29 million dollars. The best business decision is to sell it and attract new development to our downtown core."
The Civic opened in 1954. The city's agreement with MECA expires in June.
The Omaha Park 5 parking structure on the southwest corner of the property will remain there, and continue to be managed by the city.
The mayor's office says they'd like to see retail, residential, civic and/or office space in the area.
"Redevelopment of this site continues our commitment to build downtown Omaha into a vibrant residential, commercial and entertainment center," says Mayor Stothert.
The site is eligible for Tax Increment Financing (TIF). The deadline to submit proposals is June 4th, 2014. A decision on which development team to go with is expected August 22nd.