Print this page
Posted: July 11, 2025
Rapid City
Agenda Item Summary

Agenda Item Ref. #: LF071625-11 Resolution No. 2025-084

Agenda Item Title:

Approve Resolution No. 2025-084, a Resolution Amending the Five-Year Plan of Projects and Programs to be funded from the Vision Account by Increasing the Amount Allocated to Citizen Projects and Revising Annual Allocations

Origination Group:
Legal & Finance Committee
Origination Meeting Date:
07/16/2025
City Council Hearing Date:
07/21/2025
Staff Contact:
Daniel Ainslie, Finance Director
Location:
Council Chambers
Agenda Item Summary:
Last month, the City Council approved the Citizens Committee’s recommendations to fund 14 projects totaling $12,004,189—slightly above the original $12 million allocation. To accommodate the $4,189 difference, the proposed resolution reduces the Strategic Growth Revolving Fund by that amount.

In addition, the resolution updates the allocation schedule to enable the Citizens Committee projects to begin immediately. Funding for the Revolving Growth Fund and Comprehensive Plan projects will be phased in over the five-year plan period. This phased approach allows time to finalize the distribution process for these funds and for eventual engineering and planning efforts to proceed as additional funding becomes available.

Finally, the resolution front-loads the Impact Fund Endowment, allowing for a one-time deposit in the third quarter of 2025. This early investment maximizes the potential for the principal to grow, ultimately creating a larger corpus to support future community awards.

Funding Source & Fiscal Impact (if applicable):

Funding Cost Center

Recommendations:

Origination Recommendation Action:
Approve

Joomla! Debug Console

Session

Profile Information

Memory Usage

Database Queries