Posted: June 01, 2020
Rapid City
Agenda Item Summary

Agenda Item Ref. #: 20TI004 - Orchard Meadows Subdivision

Agenda Item Title:

20TI004 - Resolution to create Orchard Meadows Lift Station TID and approve Project Plan

Origination Group:
Planning Commission
Origination Meeting Date:
Stage 2 Group Name:
Legal & Finance Committee
Stage 2 Meeting Date:
City Council Hearing Date:
City Council First Reading Date:
Dream Design International, Inc for Yasmeen Dream, LLC
Staff Contact:
Patsy Horton, Long Range Planning Manager
East and west of Elk Vale Road between E. Highway 44 and the current terminus of East Fairmont Street
Agenda Item Summary:
The proposed tax increment district will provide tax increment funding to design and construct a Rapid Valley Sanitary District lift station and approximately 1,335 feet of 6” force main connecting the lift station to the existing 8” sewer located within Orchard Meadows Subdivision. The proposed district overlays TID 78 – Unnamed Tributary Drainage Channel. Any increment generated is directed to TID 78 for full repayment of certified expenditures before increment funds are allocated to the proposed tax increment district

Funding Source & Fiscal Impact (if applicable):

Funding Cost Center
$807,215 RVSD Lift Station
$50,000 Professional Fees
$40,361 Contingency costs
$361,321 Financing / Interest (7.0%)
$20,000 Imputed Administrative Fee (interest free)
$1,278,896 Total TIF Financed Expenditures


Origination Recommendation Notes:
The TIF Committee determined that the proposal met the intent of the TIF Policy and directed staff to develop the associated Project Plan (as identified in the TIF Policy) for presentation to the Planning Commission for review and approval, and that the City and Developer enter into an agreement with Rapid Valley Sanitary District 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. Planning Commission recommended to approve: 5/7/2020; Legal and Finance Committee recommended to approve: 5/27/2020
City Council Recommendation Action:
City Council Recommendation Notes:
City Council approved: 6/1/2020

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