CITY of RAPID CITY

Agenda Item Summary

 

Meeting Date: 1/22/2015

Planning Commission: 1/22/2015

Staff Contact: Sarah Hanzel, Long Range Planner I

L&F Committee: 1/28/2015

Petitioner: City of Rapid City

City Council 1st Reading: 2/2/2015

Location: Southeast corner of Catron Boulevard and Sheridan Lake Road

City Council 2nd Reading: N/A

Agenda Title:

05TI006 - Resolution for the Dissolution of Tax Increment District No. 53

Summary:

The District and Project Plan for Tax Increment District #53 was approved in July of 2005. The Finance Director has indicated that the final payment associated with the approved Project Plan has been made. In 2005 the base assessed valuation of the District was $132,480. Based on the South Dakota Department of Revenue’s 2014 TIF Certification, the assessed value for Tax Increment District #53 is $6,903,900 for an increase of $$6,771,420  over the base valuation.

Funding Source & Fiscal Impact (if applicable):

N/A

Recommendation:

Action: Approve

Notes: Click here to enter text.

Options:

N/A

Attachments & Links:

Staff Report

Legal Description

Project Plan

Public Improvements Map

Vicinity Map

Resolution

Aerial Map