OMAHA, Neb. —

On Tuesday, the Omaha City Council approved amendments to the Urban Core Housing and Mobility Plan it originally approved in 2022.

A 6-0 vote officially gave the city authority to spend the full $490 million outlined in the plan, including for the streetcar. The city expects the plan will be fully funded by projected tax increment financing (TIF) revenue.

It's also a first step in the city's plan to work with an investor and Front Porch Investments to use $40 million of the projected TIF revenue on affordable housing in the urban core.

The city announced the bond on Aug. 1.

The city won't be committed to any agreement until the council can approve specific terms of the bond, which isn't expected for at least another month.

The city said the bond is a unique opportunity

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