Council approves up to $115 million in redevelopment bonds, 6-0
The ordinance limits repayment to special tax revenue pledged to the bonds.
OMAHA - The Omaha City Council voted 6-0 on Nov. 3 to approve up to $115 million in special tax revenue redevelopment bonds for the Mutual Tower, Millwork and 8th and Douglas garages projects, according to the council's agenda and official meeting video.
A bond is a written promise to repay borrowed money. The ordinance, ORD. 44860, says these bonds are to be paid only from the special tax revenues it pledges to them.
The vote was the ordinance's third and final reading, with changes the city's Finance Department requested, listed on the agenda as an amendment of the whole, the agenda shows.
In a separate 6-0 vote, the council approved paying $250,000 to settle Kathryn James v. City of Omaha, Case No. CI 25-7665 in Douglas County District Court. No one spoke for or against the settlement at its public hearing. The agenda doesn't say what the lawsuit was about.
What's next: The council's next meeting is Nov. 10. The council meets at 2 p.m. in the Legislative Chambers, 1819 Farnam St.; it won't meet Nov. 17. Residents can speak at public hearings in person, and the agenda explains how to join by Zoom. Questions go to the Omaha City Clerk's office.
Source: Omaha City Council agenda, Nov. 3, 2026; Omaha City Council meeting video, Nov. 3, 2026, items 49 and 50; Citizen Portal transcript, items 49 and 50.
How we checked this: Reported from the Omaha City Council's Nov. 3 agenda and its official meeting video, through the Citizen Portal transcript, opened Nov. 5, 2026, at 5:27 a.m. CT, and checked against the record by our copy desk before publishing.