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Posted: March 06, 2020
Rapid City
Agenda Item Summary

Agenda Item Ref. #: 20TIF003 - Request for Amendment #2 to reallocate TID 70 project costs

Agenda Item Title:

20TIF003 - Request for Amendment #2 to reallocate TID 70 project costs

Origination Group:
TIF District Review Committee
Origination Meeting Date:
03/11/2020
Petitioner:
John P Gomez
Staff Contact:
Patsy Horton
Location:
Southeast Quadrant of US Highway 16 and Catron Boulevard
Agenda Item Summary:
Tax Increment District #70 was created to assist in the development of commercial property located along South US Highway 16 and Moon Meadows Drive through the development of public infrastructure improvements. The Tax Increment Funds were identified to construct a sanitary sewer main, turn lanes, Moon Meadows Drive, water main crossing at South US Highway 16, a traffic signal, associated engineering costs and contingency costs. The Developer is requesting reallocation of project costs to align with certified expenditures.

Funding Source & Fiscal Impact (if applicable):

Funding Cost Center
Funding Source & Fiscal Impact Notes:
The Project Plan is funded by the applicant.

Recommendations: