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