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Posted: July 16, 2024
Rapid City
Agenda Item Summary

Agenda Item Ref. #: LF073124-05

Agenda Item Title:

Approve Resolution No. 2024-048, a Resolution Dissolving Tax Increment District No. Forty-Seven

Origination Group:
Legal & Finance Committee
Origination Meeting Date:
07/31/2024
City Council Hearing Date:
08/05/2024
Petitioner:
Finance Department
Staff Contact:
Mike Dugan
Location:
Council Chambers
Agenda Item Summary:
TID 47 was created 10/04/2004 for the purpose of assisting in the development of a 122 acre development located adjacent to Tower Road to fund the reconstruction of Tower Road and public infrastructure improvements. The assessed base valuation of the TID was $1,395,000. The valuation as of 12/31/2023 was $38,670,134. All certified costs have been paid in full from the increment fund and the TID must be dissolved pursuant to State Codified Law 11-9-46.

Funding Source & Fiscal Impact (if applicable):

Funding Cost Center

Recommendations:

Origination Recommendation Action:
Approve

Attachments & Links to Download:

LF073124-05 Resolution 2024 048

 

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