NP planning commission advances occupancy tax request for Platte River Mall rehab project
NORTH PLATTE, Neb. (KNOP) - The North Platte Planning Commission advanced a proposal to implement the temporary use of occupancy tax to rehab the Platte River Mall.
The request is part of REV Development’s plan to convert the mall into a strip mall using a 1.95 percent occupation tax on top of the city’s 7 percent sales tax on non-grocery purchases. The designation would be restricted to the mall district and could generate between four to seven million dollars over a 20 year period and create between 450 and 600 jobs.
“We need to give the community this opportunity, it’s too important for everything else that comes with it such as attracting additional business, additional payroll with the other projects we are working on,” said Gary Person, NP Area Chamber of Commerce President and CEO. “We’re going to have the opportunity to bring new employees to the community and this helps everybody’s recruitment ability to bring them here. I am pleading with you to make this happen in the community and it starts with the planning commission.”
Mike Works with REV Development says the tax will go into effect January first of next year. It will be applied immediately as tenants open their doors.
“Although it’s called a bond, the reality is, the city does not do a bond, there is no liability on the city’s part,” Works said. “We go out and get a loan basically and so when the funds come into the city the city kicks it back out directly to our lender and that goes to pay off our loan to do all of the improvements.”
Golden Ticket Cinemas and Dunham’s sports will be opening their doors later this year. Other retailers that have been contacted are Target, HyVee, Old Navy, Old Chicago, Freddie’s and Panda Express just to name a few.
The city council will take up the proposal on May 18.
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