NORFOLK - The Norfolk Planning Commission recommended a redevelopment plan at its meeting Tuesday.
Al Rajaee the owner of Courtesy Ford and Cornhusker Auto told the commissioners the plan is for the renovation of the old Shopko location into a new car dealership.
Rajaee said they’re looking to use tax increment financing – which allows developers to defer property tax payments until after the project is completed and revenue starts being generated – for the project.
He said the owner of the property sold the former Shopko at 40% more than the assessed value.
Rajee previously told News Talk WJAG an additional 20-25 more employees will be hired on top of the 20 already hired after Courtesy Ford was purchased.
The commissioners voted unanimously to recommend the redevelopment plan.