Agenda Item Title:
17TI002 - Resolution Dissolving the Tax Increment District No. 79
Origination Group:
Planning Commission
Origination Meeting Date:
08/06/2020
Stage 2 Group Name:
Legal & Finance Committee
Stage 2 Meeting Date:
08/12/2020
City Council Hearing Date:
08/17/2020
Petitioner:
City of Rapid City
Staff Contact:
Sarah Hanzel, Long Range Planner III
Location:
612 Dilger Avenue
Agenda Item Summary:
City Council approved the resolution approving the Tax Increment District #79 Project Plan on June 12, 2017. The District was created to create affordable workforce housing by developing 5 townhome units on the southeast quadrant of Dilger Avenue and Monroe Street. This district is being dissolved at the request of the project developer. Other funds were secured, so the tax increment financing was not needed for this project.
Funding Source & Fiscal Impact (if applicable):
| Funding | Cost Center |
|---|---|
Recommendations:
Origination Recommendation Action:
Approve
Origination Recommendation Notes:
Planning Commission approved: 8/6/2020; Legal and Finance Committee approved: 8/12/2020
City Council Recommendation Action:
Approve
City Council Recommendation Notes:
City Council approved: 8/17/2020