LEXINGTON, NE – The Lexington Community Development Agency met on Monday, March 20th to consider a redevelopment plan.
The plan was discussing the Taco John’s redevelopment project that would relocate the current Taco John’s to south of Scooter’s Coffee in Lexington closer to Interstate 80.
As part of the project, the CDA would use tax increment financing to help pay for the project, but the redeveloper would pay all the costs that aren’t covered by TIF. The TIF amount is anticipated to exceed $400,000 with the total project cost being approximately $1.23 Million.
According to the redevelopment plan, construction is anticipated to start in May 2023 and be completed by this fall. The CDA passed a motion to approve the amendment of the redevelopment plan of the City of Lexington to include the Taco John’s project.
The amendment will be forwarded to the Planning Commission.