The redevelopment plan for the Pumpkin Creek Meat Company’s processing plant in Gering has been given the green light by city officials.
After the Community Development Agency gave their nod to the plan for $9 million project that includes more than $2 million in TIF financing, the City Council approved the plan 7-0 after taking public comment.
City Engineer Annie Folck listed the items the council needed to consider before approval, including whether the project would be able to go forward without TIF financing. “In all our conversations with the developer, staff was recommending that this project would not move forward without using TIF funds, that these are going to be essential for them paying for some of their site investments,”said Folck, “particularly for the property acquisition, the utility improvements and the wastewater pre-treatment that we discussed in more detail at the CDA meeting.”
When asked about a $9 million investment ultimately leading to a property valuation of about $6 million, Folck said the valuation figure was mostly left up to the developers to determine, but a significant amount of the $6.7 million in private investment will be going into equipment for operations.
Once operational, the company intends on processing no more than 200 head of cattle per week.