CITY of RAPID CITY

Agenda Item Summary

 

Meeting Date: 3/13/2013

Tax Increment Finance Committee: 2/5/2013

Staff Contact: Patsy Horton, Long Range Planning Manager

Planning Commission: 2/21/2013

Petitioner: Ferber Engineering Co., Inc. for North Street Fire Station, LLC

L&F Committee: 3/13/2013

Location: North of U.S. Interstate 90, east of LaCrosse Street and west of Dyess Avenue

City Council Set for Hearing: 3/4/2013

City Council Public Hearing: 3/18/2013

Agenda Title:

13TI001 - Second Revised Project Plan for Tax Increment District No. 69

Summary:

The Developer is requesting an amendment to the existing Project Plan in order to reallocate funds from capital and professional costs to fund additional capital and engineering costs.

Funding Source & Fiscal Impact (if applicable):

Funding Source: Incremental increase in taxable valuations based on TID #69

Recommendation:

Action: Approve

Notes: Tax Increment Financing Committee recommended approval on February 5, 2013; Planning Commission recommended approval on February 21, 2013; Legal and Finance Committee recommended approval on March 13, 2013.

Options:

N/A

Attachments & Links:

Staff Report

Application

Legal Description

Fire Station #7 Certified Costs

Tax Increment Financing Guide

Tax Valuation Spreadsheet

Resolution

Tax Increment Financing Committee Minutes (2/5/2013)

Planning Commission Minutes (2/21/2013)

Project Plan