Posted: September 03, 2019
Rapid City
Agenda Item Summary

Agenda Item Ref. #: 19TIF002 - Request to amend a tax increment district and reallocate funds

Agenda Item Title:

19TIF002 - Request to amend a tax increment district and reallocate funds

Origination Group:
TIF District Review Committee
Origination Meeting Date:
09/10/2019
Petitioner:
Yasmeen Dream LLC
Staff Contact:
Patsy Horton
Location:
Southeast Quadrant of Elk Vale Road and SD Highway 44
Agenda Item Summary:
This Tax Increment District provided funding to realign a portion of the Unnamed Tributary Channel and construct Element #8 identified in the Unnamed Tributary Drainage Basin Design Plan in order to maximize development potential of the property located at the northwest portion of Orchard Meadows. The proposed amendment will reallocate unused capital and contingency funds and add a line item to construct a sewer lift station. The proposal also includes separating the existing Project Plan into two phases.

Funding Source & Fiscal Impact (if applicable):

Funding Cost Center

Recommendations:

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