Agenda Item Title:
20TIF002 - Request to reallocate project costs and add a Capital Cost Line Item
Origination Group:
TIF District Review Committee
Origination Meeting Date:
02/04/2020
Stage 2 Group Name:
Planning Commission
Petitioner:
City of Rapid City
Staff Contact:
Patsy Horton
Location:
East terminus of Homestead Street
Agenda Item Summary:
The Project Plan for Tax Increment District #68 was approved on April 21, 2008, and was created to provide funding for drainage / storm sewer oversizing, to grade Detention Cell #101 within the County Heights Drainage Basing Design Plan, and to extend Homestead Street 75 feet for road connections within the Homestead Subdivision associated with property owned by the Rapid City Area School District. The City of Rapid City participated in this proposal in order to install a 16” water main in Homestead Street as part of the long-term project to provide water service to the Airport, along with engineering and necessary and convenient costs. Amendment #1 proposes to reallocate city expenditures to match certified costs, and authorize repayment of those costs associated with acquiring a water main easement for the water transmission main.
Funding Source & Fiscal Impact (if applicable):
| Funding | Cost Center |
|---|---|