What is the current status of development in Leytham?
The original site plan for Leytham created during the planning charrette has been revised and finalized. The engineers have concluded their preliminary design work for the streets and utilities and have projected costs for building that infrastructure. Leytham has received its preliminary planning and zoning approval unanimously and enthusiastically from both the Planning Board and the City Council of the City of Omaha. That preliminary approval will need to be extended mid-summer of 2009, permitting up to another two years to get the final planning and zoning approval by summer of 2011. One of the requirements for final approval is a firm commitment for SID financing. The fiscal agents for the Sanitary and Improvement District (SID) that will be formed for Leytham have offered financing. However that financing would be on terms which are not particularly favorable, but which necessarily reflect current market conditions. This means that Leytham will have to be delayed until the credit
