Agenda Item Title:
Resolution No. 2024-084. A Resolution in Support of Bella Vista LLC’s SD Housing Infrastructure Application for Stoney Creek Reserve.
Origination Group:
Public Works Committee
Origination Meeting Date:
10/15/2024
City Council Hearing Date:
10/21/2024
Staff Contact:
Jamie Toennies
Agenda Item Summary:
Bella Vista LLC is applying for a South Dakota Housing Infrastructure Program Loan to support the development of 25 single family home lots, price point approximately $120,000 per lot. The location is Stoney Creek Reserve at 5930 Overview Lane, Rapid City, SD 57702. Infrastructure being installed includes water, sewer, roads, curbing, gas, phone, and high-speed internet. The city will be responsible for maintaining the water, sewer, roads, and curbing. They are applying for a loan for$625,000. Total project cost is $1.8 million.
Community Development and Public Works have reviewed and recommend approving this resolution.
Funding Source & Fiscal Impact (if applicable):
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