Agenda Item Title:
20TI004 – Authorize Mayor and Finance Officer to sign Agreement between the City of Rapid City, Rapid Valley Sanitary District and Yasmeen Dream LLC for construction, operation and maintenance of the Orchard Meadows Lift Station
Origination Group:
Legal & Finance Committee
Origination Meeting Date:
10/14/2020
City Council Hearing Date:
10/19/2020
Petitioner:
Yasmeen Dream LLC
Staff Contact:
Patsy Horton, Long Range Planning Manager
Location:
Southeast Quadrant of Elk Vale Road and SD Highway 44
Agenda Item Summary:
City Council created Tax Increment District 82 on June 1, 2020, providing tax increment funding for the to design and construct of a Rapid Valley Sanitary District lift station, with the provision that the Developer, Rapid Valley Sanitary District and the City of Rapid City enter into an agreement to ensure that Rapid Valley Sanitary District will provide all on-going maintenance and operation funds until the TIF construction funded lift station has been decommissioned. This agreement addresses the stipulation identified as part of the TID 82 approval
Funding Source & Fiscal Impact (if applicable):
| Funding | Cost Center |
|---|---|
Recommendations:
Origination Recommendation Action:
Approve
Origination Recommendation Notes:
Legal and Finance Committee approved: 10/14/2020
City Council Recommendation Action:
Approve
City Council Recommendation Notes:
City Council approved: 10/19/2020