Agenda Item Title:
Authorize Mayor and Finance Officer to Sign Development Agreement For Tax Increment District Number Seventy-seven Between Black Hills Power, Inc. & the City of Rapid City
Origination Group:
Legal & Finance Committee
Origination Meeting Date:
06/01/2016
Stage 2 Group Name:
City Council
Stage 2 Meeting Date:
06/06/2016
Agenda Item Summary:
This Agreement lays out the specifics of Black Hills Power, Inc.’s plan to build out additional office space and stimulate 50 new jobs in exchange for the grant payment included in TIF 77. More information on TIF 77 can be found at the link below to the TIF District’s creation.
Funding Source & Fiscal Impact (if applicable):
| Funding | Cost Center |
|---|---|
Recommendations:
Origination Recommendation Action:
Approve
City Council Recommendation Action:
Approve