Agenda Item Summary


Meeting Date: 5/5/2014

Planning Commission: 4/24/2014

Staff Contact: Sarah Hanzel; Long Range Planner I

L&F Committee: 4/30/2014

Petitioner: City of Rapid City

City Council 1st Reading: 5/5/2014

Location: Between Sheridan Lake Road and South Highway 16 and adjacent to Catron Boulevard

City Council 2nd Reading: N/A

Agenda Title:

Resolution no. 2014-038 to Dissolve Tax Increment District  No. 61 (09TI003) 


The District was created in October of 2006. The Third Revised Project Plan was approved on May 17, 2010. The Finance Director has indicated that the final payment associated with the approved Third Revision Project Plan has been made. In 2006, the base valuation of the District was $1,973,605. Based on the South Dakota Department of Revenue’s 2013 TIF Certification, the assessed value for Tax Increment District #61 is $22,364,401, for an increase of $20,391,336 over the 2006 tax base valuation. The estimated increase is $2.7 million per year since the district was created.

Funding Source & Fiscal Impact (if applicable):



Action: Approval

Notes: Planning Commission recommended approval: 4/24/2014; Legal and Finance recommended approval: 4/30/2014


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Attachments & Links:

Staff Report

Resolution to Dissolve

Public Improvements Map

Third Revision Project Plan

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