CRA advances Sustainable Beef, LCC project to city council
NORTH PLATTE, Neb. (KNOP) - North Platte’s most extensive tax increment financing project to date inches one step closer to coming to fruition.
The Community Redevelopment Authority met briefly Monday to review the cost benefit analysis and redevelopment plan for the Sustainable Beef, LLC.
The company is proposing to build a $325 million meat-processing facility that will employ 875 people and process 1,500 cattle a day.
The project will be built on an 80-acre retired lagoon south of the wastewater treatment facility and is expected to have an annual economic impact of $1 billion.
Sustainable Beef is seeking $21.5 million in TIF, $18 million of which will be used for road maintenance and to build the facility.
“Early on we came up with the little slogan, “The Right People, The Right Place At The Right Time” and we do have the right people involved,” said Western Cooperative Company President and CEO David Briggs. “Schmeeckle Brothers are the general contract and they are the right people to build this. Olsson Associates is our lead engineer and firm, they are the right people to work on this project in Nebraska. The cattlemen that are going to bring us cattle, we have 23 signed contracts today, they are the right people that are going to bring us cattle to this project. All the way through, we’ve been really honing in on the right people to be involved in this process and I really think North Platte is the right place.”
“Not only do they have work to do, we have work to do as a city from an economic development standpoint to make sure we have all of the infrastructure in place,” said CRA board chairman Mike Jacobson. “If we slow down and lift now and we don’t keep moving forward to expand our community, we are going to lose an opportunity that has been created and brought to us by this group.”
The board advanced the project to the city council by unanimous vote. The city council will take up the project at their next meeting on Tuesday.
There will be a 30-day delay until it comes back to the CRA where it will enter into a redevelopment contract with Sustainable Beef and approve the issuance of TIF.
The land has an appraised value of $142,000.
Copyright 2021 KNOP. All rights reserved.