Posted: July 16, 2024
Rapid City
Agenda Item Summary

Agenda Item Ref. #: LF073124-08

Agenda Item Title:

Approve Resolution No. 2024-052, a Resolution Dissolving Tax Increment District No. Eighty-Two

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 82 was created June 1, 2020 to fund the design and construction of a Rapid Valley Sanitary District lift station and approximately 1,335 +/- feet of 6” force main. The force main connects the lift station to the existing 8” sewer main at the manhole in Elderberry Drive located just south of Jaffa Garden Way. The assessed base valuation was $40,670,100. The valuation as of 12/31/2023 was $87,534,656. All certified costs have been paid in full from the increment fund and the TID must be dissovled 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:

LF073124-08 Resolution 2024 052

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