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CITY of RAPID CITY Agenda Item Summary |
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Staff Contact: Carla Cushman, Assistant City Attorney |
L&F Committee: May 13, 2015 |
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City Council Meeting: May 18, 2015 |
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Agenda Title: |
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Authorize Mayor and Finance Officer to Sign Contract for Construction of Public Improvements Through Private Developer for Tax Increment District Number Seventy-Five Between Technology Housing 2 LLC and the City of Rapid City |
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Summary: |
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On December 1, 2014, Council passed Resolution No. 2014-095 creating Tax Increment District Number Seventy-Five and Resolution No. 2014-221 approving of the TIF 75 project plan. This Contract for Construction of Public Improvements between the developer, Technology Housing 2 LLC, and the City establishes the process by which developer may seek payment out of the tax increment funds and clarifies those costs which the City will reimburse from the TIF 75 funds. |
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Funding Source & Fiscal Impact (if applicable): |
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N/A |
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Recommendation: |
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Action: Approve Notes: |
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Options: |
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N/A |
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Attachments & Links: |
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