Public safety is my top priority. Omaha saw a remarkable 14% reduction in crime rates in 2023, marking a significant step towards a safer community. Violent crime has plummeted to a 40-year low, demonstrating the effectiveness of our strategies. In 2023, our dedication to justice was evident as we achieved a remarkable 100% homicide clearance rate.
Our commitment to your safety is unwavering, evident through our robust community partnerships and the substantial investments we've made in personnel, technology, and training. We are witnessing the results of these efforts. As we move forward, I pledge to maintain leadership in innovative policing and emergency response. Through proactive enforcement, crime prevention initiatives, and timely intervention, I believe that one city can indeed set an example and make a profound difference. I am honored that Omaha is that city, dedicated to fostering a secure and prosperous future for all our residents.
Economic development and job growth are at the forefront of my agenda. Omaha’s largest commitment, totaling $60 million, is a partnership with Front Porch Investments, aimed at creating and preserving affordable housing for renters and buyers alike. This initiative has not only been successful in addressing the issue of affordable housing but has also garnered recognition as a model program, selected for publication as a case study for cities grappling with similar challenges.
We're investing in city park improvements, non-profits offering vital programs for our youth, gang prevention and intervention, job training, healthcare, and mental health services. The
comeback is real -- evident in the fact that hotel occupancy rates are at their highest in 16 years. More visitors are flocking to our city, injecting revenue into our economy through spending in hotels, stores, and restaurants, ultimately lowering taxes for residents.
Ensuring public safety goes hand in hand with responsible fiscal management. Throughout my tenure, I've demonstrated this commitment by reducing Omaha's property tax levy four times, amounting to over an eight percent decrease. Our current levy stands at its lowest rate since 2010. I recognize that while these measures alleviate some burden, they may not fully offset the impact of significant property valuation increases set by the county assessor, which make homeownership unaffordable for many.
I remain steadfast in my pledge to continue lowering our levy whenever possible, potentially in 2025, without compromising critical services. I've bolstered infrastructure with increased road repair and rehabilitation efforts, spearheaded the construction of a new central library, and negotiated a modernized trash collection contract. We've maintained an impressive bond rating, which demonstrates our sound financial stewardship—all achieved while reducing the property tax levy.
Over the past 12 years, with generous support from philanthropic donors and trust in city leadership, Omaha has emerged as a premier destination for sports competitions, conventions, entertainment, recreation, and leisure. A healthy urban core, encompassing housing, jobs, commerce, education, arts, entertainment, and transportation, is vital to our continued growth.
Initiatives such as the modern streetcar project will seamlessly connect our attractions and employers with popular entertainment districts and university campuses, fostering a vibrant, accessible community that attracts new businesses and young professionals. Historic North and South 24th Streets are experiencing revitalization, igniting momentum and creating new spaces for innovation, entrepreneurship, and urban living. Updated plans for the Crossroads showcase redesigned, higher-value developments, while Avenue One and Heartwood Preserve offer expanded business and entertainment options in West Omaha. Since assuming office, we have issued more than 181,000 commercial and residential building permits for a value of nearly $11 billion, signaling a thriving and dynamic future for our city.
Working together, we share a common goal: to make Omaha a city of opportunities for everyone. We have greater achievements ahead. I love working with you, and for you, and I look forward to continuing my service as your Mayor.
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