Agenda Item Title:
05TI008 - Resolution Dissolving Tax Increment District No. 54
Origination Group:
Planning Commission
Origination Meeting Date:
04/22/2021
City Council Hearing Date:
05/03/2021
Petitioner:
City of Rapid City
Staff Contact:
Sarah Hanzel, Long Range Planner III
Location:
North of Mall Drive and west of Haines Avenue
Agenda Item Summary:
The Rapid City Council approved the resolution creating Tax Increment District #54 and its original Project Plan on October 3, 2005. Revisions to the Project Plan were approved on April 7, 2008 and June 5, 2017. The District was created to assist residential development by funding public park and water system improvements including the installation of a water reservoir, booster station, and water mains, resulting in an expanded developable area. All eligible expenditures have been certified and paid in accordance with the adopted Project Plan. In accordance with SDCL 11-9-46, the City is required to officially dissolve this Tax Increment District.
Funding Source & Fiscal Impact (if applicable):
| Funding | Cost Center |
|---|---|
Recommendations:
Origination Recommendation Action:
Approve
Origination Recommendation Notes:
Planning Commission recommended to approve: 4/22/2021
City Council Recommendation Action:
Approve