Final approval given for Cabela's expansion

The Tax Increment Finance plan for the Cabela's Corporate Campus Expansion received final approval Tuesday night by the Community Development Agency and the city council.

After a referral back from the planning commission with assurance that the master plan for redevelopment of the 27 acre tract of land owned by Cabela's and the 14 acre tract of land owned by Tim Reganis was in line with the city's 2012 comprehensive plan, the CDA and then the city council both approved TIF for the project.

This area is considered blighted and Cabela's asked for TIF funds to grade the two properties to make development on them possible. The Reganis tract is 6-8 feet above Old Post Road while the Cabela's tract is full of gullies. Architects hope that extra dirt from the Reganis tract can fill in areas in the Cabela's tract.

"We have a tremendous topographic challenge moving and grading around the site," said Cabela's architect Dennis Armstrong.

TIF funds are paid off with projected increased property taxes collected due to increased valuations in the area that will occur as a result of the new development.

One new office building, extending west of the current corporate headquarters, on the Cabela's plot of land is planned, with additional buildings slated for future construction if needed.

Phase one of redevelopment for both plots of land would include grading, constructions of public and private roads for various access points and installation of utilities on the Reganis tract, as well as storm water management processes.

Currently architects are dealing with the U.S. Air Force to attempt to move a missile cable off of the land slated for redevelopment.

Re-zoning of the Cabela's tract of land from agricultural to heavy commercial was also approved by the city council Tuesday night.