Agenda Item Title:
13TI002D - Resolution to Dissolve Tax Increment District #74
Origination Group:
Planning Commission
Origination Meeting Date:
08/25/2022
Stage 2 Group Name:
Legal & Finance Committee
Stage 2 Meeting Date:
08/31/2022
City Council Hearing Date:
09/06/2022
Petitioner:
City of Rapid City
Staff Contact:
Sarah Hanzel, Planning Projects Division Manager
Location:
South and west of Elks Country Estate north and south of Elk Vale Road and east of S.D. Highway 79
Agenda Item Summary:
The Rapid City Council approved the resolution creating TID #74 – East Minnesota Street in August of 2013. The purpose of the district was to assist in funding the extension of Minnesota Street to the east along the southern boundary of Elks Country Estates and Elks Crossing. The funds were to be used for the extension of Minnesota Street (including utilities), power line relocation, a drainage facility, and irrigation pipe. The project was never completed and costs were not certified. 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 approved: 8/25/2022
City Council Recommendation Action:
Approve
City Council Recommendation Notes:
City Council approved: 9/6/2022