Distillery, event center one step closer for vacant River Falls Shopko site. Here’s what happens next

RIVER FALLS — A proposed distillery, restaurant and event center for the vacant and degrading Shopko site at the north entrance to town cleared its first vote Tuesday, March 2, by the city’s Plan Commission.

The commission gave unanimous approval for the project plan to create a tax incremental district, or TID, a type of economic incentive municipalities can use to promote development whereby tax revenue generated by the project would be used to repay upfront infrastructure and other expenses.

The city would put forward around $3.7 million for bridge and street maintenance, utilities, potential property acquisitions and other related expenses. The development will have a taxable value of more than $10 million and generate enough revenue through tax incremental financing to pay for project costs within 25 years, according to the project plan.

The distillery and restaurant brand for the “Project Mustang” proposal has not been disclosed, but the project is described by city staff as being regionally significant. Developer River Falls Holdings anticipates it would attract an estimated 160,000 people to the area each year.

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