OHA Grants 75-Year Ground Lease Option for Phase 4

The Omaha Housing Authority has entered into an option agreement granting SST Phase 4 LIHTC, LLC the right to a 75-year ground lease of Southside Terrace Phase 4 property for $1.00 plus holding costs to support construction of approximately 113 mixed-income housing units. The option runs through January 31, 2027, with a possible one-year extension, and is contingent upon HUD, NIFA, tax credit, and financing approvals.

Document date · August 20, 2025

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Scope & details

The full contract record, as filed.

Contract amount

$1.00 plus property holding costs incurred by the Housing Authority prior to closing; $1.00 ground lease rent for 75-year term

Contract type

FACILITIES

Contract term

Option term from full execution until January 31, 2027, extendable to January 31, 2028; ground lease term 75 years upon exercise

Renewal date

2028-01-31

Renewal

Option term expires January 31, 2027 and may be extended to January 31, 2028 if Lessee delivers written notice by December 31, 2026. Ground lease itself is for a fixed 75-year term once executed, with no renewals mentioned.

Document type

Option Agreement

Source document

omaha_housing_authority_option_for_ground_lease_ag.pdf

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the facilities contract by Omaha Housing Authority?

Sst Phase 4 Lihtc Llc was awarded this facilities contract by Omaha Housing Authority, as recorded on August 20, 2025. The contract value is $1.00 plus property holding costs incurred by the Housing Authority prior to closing; $1.00 ground lease rent for 75-year term.

How much is the Sst Phase 4 Lihtc Llc contract with Omaha Housing Authority worth?

The Sst Phase 4 Lihtc Llc contract with Omaha Housing Authority is valued at $1.00 plus property holding costs incurred by the Housing Authority prior to closing; $1.00 ground lease rent for 75-year term, covering facilities work.

What type of contract is this?

This is a Facilities contract, documented as a option agreement record.

Where was this contract approved?

This contract appears in omaha_housing_authority_option_for_ground_lease_ag.pdf (Option Agreement), dated August 20, 2025 from Omaha Housing Authority. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Sst Phase 4 Lihtc Llc hold?

Sst Phase 4 Lihtc Llc may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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