IDB hears Rivergate Mall TIF update; financing and land acquisition expected in January

The Industrial Development Board received a non‑voting update on the Rivergate Mall redevelopment on Nov. 12. Kate Jerash, representing the project’s master developer, reviewed the master plan and outlined the financing approach.

Jerash said the redevelopment covers about 56.49 acres and the current estimated total project budget is roughly $82 million, with approximately $27 million in TIF‑eligible hard costs for infrastructure, grading, utility relocation and public roads. The Metro IDB would issue bonds payable solely from TIF revenues; Goodlettsville officials have agreed to a capped $5,000,000 participation that will be structured by intergovernmental agreement. Jerash said the team will return to the IDB in December with substantially final documents; land acquisition and closing for construction and TIF financing is projected for January.

Board members asked about branding and stakeholder outreach; Jerash said the team is working on identity and branding with community stakeholders and that Goodlettsville representatives will attend the next meeting to discuss their participation.