The Gering city council Monday evening will consider finalizing redevelopment plans and agreements for the proposed Cobblestone Hotel at 10th and M Streets.
City Engineer Paul Snarr says the agreements outline the obligations of the developer Gering Hospitality Group, LLC and the city, including up to approximately $900,000 in tax in increment financing over 15 years for public infrastructure associated with the project.
Snarr said the improvements eligible for TIF include a planned new water line at M and 9th Streets, a sanitary sewer line, the hotel parking lot which will also be available for public parking and curb and gutter.
The city of Gering’s on-kind and monetary involvement in the hotel is approximately $2.3 million. Snarr says the general contractor Bri-Mark Builders has begun soliciting bids for electrical, plumbing and mechanical work from local contractors, so the public should see construction starting very soon.