Agenda Item Summary


Meeting Date: 4/25/2013

Tax Increment Finance Committee: 2/26/2013

Staff Contact: Patsy Horton, Long Range Planning Manager

Planning Commission: 3/21/2013; 4/25/2013

Petitioner: Dream Design International, Inc. for Dennis Zandstra Real Estate Holdings, LLC

L&F Committee: 5/29/2013

Location: South and west of Elks Country Estate north and south of Elk Vale Road and east of S.D. Highway 79

City Council Set for Hearing: 5/20/2013

City Council Public Hearing: 6/3/2013

Agenda Title:

13TI003 - Tax Increment #74 Project Plan


The Developer is requesting the creation of a tax increment district and the associated project plan to fund the extension of Minnesota Street, underground utilities, a regional drainage facility and an irrigation pipe. Staff has requested additional information from the applicant regarding the overlapped Tax Increment District #65 expended project costs.

Funding Source & Fiscal Impact (if applicable):

Tax increment funds generated by the increase in tax valuation


Action: Choose an item. Continue to April 4, 2013 Planning Commission meeting

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Attachments & Links:

Staff Report


Tax Increment Financing Committee Minutes (2/26/2013)

Vicinity Map

TIF Boundary Map

Aerial Map

Public Improvements

Preliminary Review


Proposed TIF Costs

Bank Financing Letter

Total Project Costs &

Project Pro forma

Tax Valuation Spreadsheet

Tax Increment Financing Guide



Articles of Incorporation