Posted: April 16, 2019
Rapid City
Agenda Item Summary

Agenda Item Ref. #: 19TIF001 - TID #67 Brookfield Reallocation Amendment #1

Agenda Item Title:

19TIF001 - TID #67 Brookfield Reallocation Amendment #1

Origination Group:
TIF District Review Committee
Origination Meeting Date:
04/23/2019
Stage 2 Group Name:
Planning Commission
Petitioner:
Sperlich Consulting, Inc. for Doeck, LLC
Staff Contact:
Patsy Horton
Location:
East and west of Haines Avenue and north and south of Country Road
Agenda Item Summary:
The Project Plan, approved on April 21, 2008, assisted in the development of Brookfield Subdivision located east of Haines Avenue and north of Country Road. TIF funds were utilized for box culverts, grading and oversizing costs for the extension of water and sewer. Developer A is requesting a cost reallocation to adjust the TIF funding proposal approved in 2008 to coincide with certified costs for the associated project plan line items. Developer B is not eligible for any TIF fund reimbursements as construction was not complete within the five year timeline as required by SDCL 11-9-13.

Funding Source & Fiscal Impact (if applicable):

Funding Cost Center
Funding Source & Fiscal Impact Notes:
Tax increment funds generated by the increase in tax valuation.

Recommendations:

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