Posted: November 16, 2022
Rapid City
Agenda Item Summary

Agenda Item Ref. #: 22TI003 - Sections 21, 28 and 29, T2N, R8E

Agenda Item Title:

22TI003 - Resolution to Create Tax Increment Financing District and Resolution to Adopt a Project Plan

Origination Group:
Planning Commission
Origination Meeting Date:
10/27/2022
Stage 2 Meeting Date:
11/16/2022
City Council Hearing Date:
11/07/2022
City Council First Reading Date:
11/21/2022
Petitioner:
Indigo Design, LLC for Youth Soccer Infrastructure, LLC
Staff Contact:
Sarah Hanzel, Planning Projects Division Manager
Location:
North of Seger Drive, south of Country Road, west of N. Elk Vale Road and east of Dyess Avenue
Agenda Item Summary:
The applicant has submitted an application for a Tax Increment Financing District with $6,235,300 in proposed project costs. The purpose of the project is to extend sewer mains north of Seger Drive to the Dakota Fields Soccer Complex and west of N. Elk Vale Road. In addition to benefitting privately owned property, this project would provide sanitary sewer service to the Dakota Fields Soccer Complex. Connecting the soccer fields to sanitary sewer would eliminate the need to pump holding tanks, reduce oversize costs payable out of the City’s funds, and install sanitary sewer in anticipation of additional development in the area. The proposed Tax Increment District is 617 acres in size. On September 20, 2022 the Tax Increment Financing (TIF) Committee reviewed the project application and determined that the proposal meets the intent of South Dakota Codified Law and Rapid City’s TIF Policy. The committee directed staff to develop the associated Project Plan for review and action by the Planning Commission

Funding Source & Fiscal Impact (if applicable):

Funding Cost Center

Recommendations:

Origination Recommendation Action:
Approve
Origination Recommendation Notes:
Planning Commission recommended approval of creating the District: 10/27/2022 The Planning Commission recommended adopting the Project Plan, staff recommends that the stipulations be incorporated into the Developer’s Agreement: 10/27/2022 (6-2)
City Council Recommendation Action:
Approve
City Council Recommendation Notes:
Set for Hearing: 11/7/2022; City Council approved: 11/21/2022

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