Posted: June 26, 2025
Rapid City
Agenda Item Summary

Agenda Item Ref. #: LF070225-09 Resolution No. 2025-077

Agenda Item Title:

Resolution No. 2025-077, a Resolution Amending the Five-year Plan of Projects and Programs to be Funded from the Vision Account by Increasing the Amount Allocated to Civic Improvements by Five Million Dollars

Origination Group:
Legal & Finance Committee
Origination Meeting Date:
07/02/2025
City Council Hearing Date:
07/07/2025
Staff Contact:
Daniel Ainslie, Finance Director
Location:
Council Chambers
Agenda Item Summary:
During the Round VII Vision Fund (2020-2024) the total amount of sales tax received exceeded the amount of projects funded. During the recent Citizen’s Committee recommendation, the Committee reported that they supported the Sport’s Commission Fieldhouse Project, however given the limited supply of funds, they were not able to devote such a large sum in the project.

The attached resolution allocates $5 million of the Round VII unallocated balance to the proposed Fieldhouse Project. The funds will serve as a catalyst as the remaining capital stack is formulated.

Funding Source & Fiscal Impact (if applicable):

Funding Cost Center
Is Funding Budgeted?:
Not Budgeted

Recommendations:

Origination Recommendation Action:
Approve

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