The Gering Community Development Authority has given the green light for starting formal work on the redevelopment plan and associated TIF financing request for the move and expansion of the Crossroads Cooperative facility on the eastern edge of the community.
The CRA Monday night approved the preliminary cost-benefit analysis showing the project would leverage $4.30 in private investment for every dollar of a $1.6 million TIF request, allowing extension of rail and utilities into the city industrial park and moving the Cooperative’s current facility east away from a residential area.
City Engineer Annie Folck told the CRA members it’s just the first step of the formal planning to move the project forward. “We’re not asking for approval tonight of the TIF, just making sure there’s no red flags and giving everyone a chance to look at this,” said Folck. “So if there are any concerns or anything you would like (staff) to address in the redevelopment plan, we can do that over the next few weeks rather than you seeing the plan for the first time right before you’re asked to approve it.”
The preliminary analysis also showed no negative impacts are anticipated on the school district or other taxing entities, and employment would double from four to eight employees.
The Authority also approved referring the redevelopment plan to the city’s Planning Commission for consideration once that, and the TIF cost-benefit analysis, are finalized.