Atwater plans a workshop Wednesday to provide an update on the Ferrari Ranch project, a planned 3 million square-foot development that supporters say would bring much needed revenue, services and businesses to the area.
The development, which calls for retail stores, restaurants, a movie theater, hotel and medical center, would help create nearly 7,500 jobs and an estimated $3 million a year in tax revenue, according to estimates from a consultant. The development is on county land between Buhach and Gurr roads off Highway 99.
Officials say the project would take at least 20 years to reach completion. There has been no clear estimate on when work on the project might begin.
The Atwater City Council and the Community Development and Resources Commission are set to hold a joint meeting at 6 p.m. Wednesday at the Atwater Community Center, 760 E. Bellevue Road.
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7,500The number of jobs estimated at Ferrari Ranch
The focus of the meeting will be to provide an overview of the project, according to Scott McBride, the interim city manager of Atwater.
“It’s an informational meeting only, no action, and no public hearing,” he said.
Basically the meeting is to provide an overview of the project and specifically the project entitlements that will be considered at a later time.
Scott McBride, the interim city manager of Atwater
The plans for Ferrari Ranch envision a regional medical center, sports complex, shopping center and other development, all of which is meant to draw shoppers in from out of Atwater and increase tax revenue. Atwater has been working in recent years to pay down its general fund debt.
The city council would need to annex about 330 acres of the land into the city. Tax revenue from the project would be split between Merced County and Atwater, with the county receiving a larger chunk.
A number of public hearings would have to be scheduled as well.
About a year ago, area leaders marked the completion of the $66 million first phase of the Atwater-Merced Expressway Project, north of Merced.
Ferrari Ranch needed that phase of the expressway to give drivers access to the development. There are a number of steps left in the process, according to city staffers.