Print this page
Posted: September 26, 2025
Rapid City
Agenda Item Summary

Agenda Item Ref. #: LF100125-15

Agenda Item Title:

Authorize Mayor and Finance Director to Sign Development Agreement for Tax Increment Financing District Number Ninety-nine with AMM Rapid City LLC

Origination Group:
Legal & Finance Committee
Origination Meeting Date:
10/01/2025
City Council Hearing Date:
10/06/2025
Staff Contact:
Mike Dugan & Kinsley Groote
Location:
Council Chambers
Agenda Item Summary:
The Marshall Heights Tax Increment Financing District (TIFD), will aid in helping bring four new fast-food restaurants and commercial retail space to North Rapid City. This TIFD was approved by the City Council on 08/04/25. Total approved amount, with financing, is $10,061,666. Three of the fast-food restaurants will be new to the Rapid City market. The project will be located at 1902 North LaCrosse St. Total estimated cost of construction is $27,375,000. All existing structures currently on this property will be demolished and removed for the new development. The TIFD will provide funding for the removal of all structures from this location and also provide funds for public improvements; including a right turn lane on North LaCrosse Street, the extension of Luna Ave. to Rapp Street, a traffic signal at the intersection of Eglin St. & Luna Ave. and the purchase of a north Rapid City police precinct located at 120 Knollwood.

The developer agreement will set forth the mutual responsibilities of both the City of Rapid and the developer.

Funding Source & Fiscal Impact (if applicable):

Funding Cost Center

Recommendations:

Origination Recommendation Action:
Approve

Joomla! Debug Console

Session

Profile Information

Memory Usage

Database Queries