The proposed redevelopment of Crossroads Mall has hit another snag: The developer’s application for tax-increment financing is “deficient,” according to the Omaha city attorney.

City Attorney Paul Kratz wrote a July 14 letter to developer Rod Yates detailing seven missing or incomplete items.

Yates said he intends to submit the additional items by the next monthly deadline, which is Aug. 14. He has notified the city that one of the items, an appraisal of the final valuation of the project, should be available this week.

It’s the latest delay for the project to the northwest of 72nd and Dodge Streets, which has been in the works for more than six years.

Earlier this month, Mayor Jean Stothert said she had signed a nonbinding written agreement with Yates detailing $64 million in city incentives for a $233 million project.

A few days later, on July 10, Yates submitted his TIF application for the site. It had a new plan: a half-billion-dollar, 2-million-square-foot development with apartments, shops, office space, a gym and two hotels. The latest plan would include $64 million in TIF alone and $118 million total in city incentives.

Last week, Kratz sent Yates the letter saying that the application was incomplete.

He said it was missing several items: Proof of site control, commitment letters of financing from financial institutions, organization documents and financial statements for Yates’ Main Street Partners LLC and an appraisal that details the final valuation of the project.

He also said the application needed to beef up its return on investment analysis and cost benefit analysis.

Yates said earlier this month that he wants to get started on the project.

“We’re all ready to make this happen, ” Yates said.

But Stothert has expressed doubt about whether he’ll move forward, and she noted that some of the deadlines in this year’s nonbinding agreement have already passed.

World-Herald staff writer Paige Yowell contributed to this report.

Correction: An earlier version of this story incorrectly stated the size of the development.

Reporter - Politics

Roseann covers politics for The World-Herald. Before she came to The World-Herald in 2011, she covered politics for the Springfield, Mo., News-Leader. Follow her on Twitter @roseannmoring. Phone: 402-444-1084.

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