‘Weather the storm of construction’: New funding for businesses impacted by streetcar

CRESCENT, Iowa —

Bill Baburek has run Crescent Moon Brewery for 30 years, but he’s facing his toughest battle yet — Omaha Streetcar construction.

“You used to have this par level that you knew or that you could expect a certain amount of business on a particular day… we’ve had to relook at that and say, ‘Well, that doesn’t happen anymore,'” Baburek said. “We’re down to the lowest level of employment in probably 20 years.”

“As a business owner that has a long-standing business on the streetcar line, I’m reying to keep an open mind and weather the storm of construction,” Baburek said.

To get through the next couple of years, Baburek is turning to the city’s latest resource — the Streetcar Business Impact Fund. He’s already used phase one, which is a $10,000 grant. To qualify, businesses needed to have experienced a 10% decrease in profit over the last six months. For Baburek, that was proven through restaurant tax revenue. Now, he’s hoping to reach phase two.

“They’re going to be, beginning this week, to review the applications for phase two,” Baburek said.

Phase two is a 100% forgivable loan up to $50,000 for businesses that saw at least a 2% revenue decrease at 2% interest. To ease the costs, Baburek has been penny-pinching since construction started, and this money will help.

“Making sure that we’re not overstaffed on a given day, making sure that lights are turned off,” Baburek said.

There are two more phases in the funding program that include loans: 50% forgivable up to $75,000 and a 2% loan up to $100,000. The phases, qualifications and further information can be found at NebBiz.org/streetcar.