The city of Omaha's revenue loss due to the COVID-19 pandemic is less than expected. Omaha Mayor Jean Stothert announced Wednesday that revenue losses after the cancelation of several high-profile events, including the College World Series and the Olympic Swim Trials, will be about 56-million-dollars.
That's far less than the original estimate of 82-to-84-million-dollars. Stothert says federal CARES Act funding does not cover those losses.
As of Wednesday there’s no formal agreement with the county or the state as to how much CARES Act funding the city will be receiving, Stothert says. The city will submit their losses and COVID-19 expenses to FEMA first, then try for funding from Douglas County and the state of Nebraska.
“I still have to be cautious with the budget,” she says. Stothert said she the city has already cut about $16 million from the budget.
Stothert says Omaha libraries will remain closed at least until the city knows more about its share of the CARES Act funds. The city’s hiring and purchasing will remain frozen as well.