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Posted: November 08, 2017
Rapid City
Agenda Item Summary

Agenda Item Ref. #: LF111517-06

Agenda Item Title:

Authorize Mayor and Finance Officer to Sign Final Contract for Private Development Tax Increment District Number Fifty-Four Between DTH, LLC and City of Rapid City

Origination Group:
Legal & Finance Committee
Origination Meeting Date:
11/15/2017
City Council Hearing Date:
11/20/2017
Staff Contact:
Carla Cushman
Agenda Item Summary:
Earlier this year, Council approved of Project Plan Revision #2 for Tax Increment District Fifty-Four Rainbow Ridge. This Agreement between the Council and the Developer incorporates the reallocated project costs approved in Project Plan Revision #2 and allows for payment of those final project costs.

Funding Source & Fiscal Impact (if applicable):

Funding Cost Center
Any payments made due to this Agreement will be made from the Tax Increment District Fifty-Four Fund.

Recommendations:

Origination Recommendation Action:
Approve