Negotiations on a purchase agreement between two Northeast Omaha landowners and the city has been extended based on an environmental study.
The area the city is looking to purchase is a 68 acre site from 11th to 16th streets, Locust to Ames Avenue.
The environmental study is part of the purchase agreement between the city and the property owners.
The city agreed to pay $1.9 million for the property, contingent upon the study results.
"This is an important development with the potential to attract new businesses and jobs to north Omaha. We proposed to acquire this property for less than the $3 million asking price with the understanding we would likely have additional costs to create a shovel-ready site for developers," said Omaha Mayor Jean Stothert.
Mayor Stothert does not believe any funds for the clean-up should come from taxpayers. She has reached out to Congressman Lee Terry to see if federal funding would be available.
Financing for the purchase includes $500,000 in city funds, $450,000 from the Nebraska Department of Economic Development Site and Building Development Fund and $1 million from the Omaha Development Foundation.