Project NExT will Receive $93 Million for Expansion at a University

Project NExT will Receive $93 Million for Expansion at a University
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Project NExt will receive a $93 million Memorandum of Understanding to support its expansion at a University in the next decade. Mayor Jean Stothert had said this on Tuesday.

“Building great partnerships is how we get things done in Omaha,” Stothert said. The multi-billion dollars will aid the expansion at the University of Nebraska Medical Center.

Project NExt: Partnership Creating Thousands of Jobs

More than 8,700 permanent jobs and 41,000 construction jobs for UNMC and Nebraska Medicine will be created. Dr. Jeffery Gold joined the mayor for a news conference Tuesday morning to announce this partnership. The federal disaster center and research facility are waiting for the green light from the Department of Defense. Moreover, this would be for the facility to be building around the former site of Munroe-Meyer Institute.

Project NExt: Millions and a Billion Plus with the Expansion

$1.9 billion annually, the mayor said the expansion is expecting to bring. This would be during construction and after its resulting completion.

Project NExT could get as much as $45 provided by MOU. However, there is $48 million for public improvements, streets, and a parking garage on the Saddle Creek campus.

City’s Occupation Tax

Moreover, tobacco and vaping products are taxed. Taxes are collecting on the city’s occupation tax. This would amount to $4.2-4.5 million annually. Beginning in 2023, it would be over the next 10 years. In fact, it would fund the city’s commitment, the mayor said.

Tobacco Tax Ordinance

In 2012, the council passed the tobacco tax ordinance. This would be to fund the Fred and Pamela Buffet Cancer Center, she said. The sunset provision was removing. It would have ended the tax in 2022. Therefore, adding vaping products to the tax.

Lease-Purchase Bonds

In addition, through lease-purchase bonds, the public parking garage was funding. Moreover, Stothert said. This would include infrastructure improvements. It would include streets, said. They will be funding with transportation bonds included in the 2021-2026 capital improvement plan.

Bill Committing Funding

The state of Nebraska has approved $300 million for the NExT project additionally. In fact, the Governor Pete Ricketts has signed a bill committing funding contingent on additional financial support for the project,” the mayor said.

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