Will the blighted and substandard designation creep west over 72nd Street to the old Shark nightclub and Quality Inn grounds near West Center Road?
City planners have given their green light to calling the 4-acre site a community redevelopment area, also known as blighted and substandard — which then would allow an interested developer to apply for a property tax break known as tax-increment financing.
The City Planning Board on Wednesday is to entertain the request, which also needs City Council approval.
Omaha planners said that without the incentive, redevelopment likely wouldn’t occur and the “empty, deteriorated hotel structure will continue to exert a blighting influence on the neighborhood.”
Currently, a swath on the east side of 72nd Street, including Aksarben Village, is a legally designated CRA blighted zone, opening it to the tax-increment financing designed to spur private investment.
City Planning Director Dave Fanslau said agents of a developer have been meeting with neighbors and city officials in pursuit of the designation southwest of 72nd and West Center Road, where the developer is interested in razing the old hotel and nightclub to build apartments.