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Posted: May 04, 2023
Rapid City
Agenda Item Summary

Agenda Item Ref. #: 14TI001D - Denman's Subdivision

Agenda Item Title:

14TI001D - Resolution to Dissolve Tax Increment District No.75

Origination Group:
Planning Commission
Origination Meeting Date:
05/04/2023
City Council Hearing Date:
05/15/2023
Petitioner:
City of Rapid City
Staff Contact:
Jonathan Howard, Special Projects Planner II
Location:
South of E. Saint Joseph Street between Myrtle Avenue and Maple Avenue
Agenda Item Summary:
The Rapid City Council approved the resolution creating Tax Increment- District #75 and its original Project Plan on December 1, 2014. The Tax Increment boundary is located along the south side of East Saint Joseph Street from Myrtle Avenue to Maple Avenue and includes the alley between East Saint Joseph Street and Kansas City Street. No project costs have been paid by the district because no costs were certified for reimbursement through the TID. Per SDCL 11-9-13, no expenditure may be provided for in the plan more than five years after a district is created unless an amendment is adopted by the City Council. In accordance with SDCL 11-9-46, the City is required to officially dissolve this Tax Increment District.

Funding Source & Fiscal Impact (if applicable):

Funding Cost Center

Recommendations:

Origination Recommendation Action:
Approve
Origination Recommendation Notes:
Planning Commission approved: 5/4/2023
City Council Recommendation Action:
Approve
City Council Recommendation Notes:
City Council approved: 5/15/2023
Published in 2023 - PL Agenda Items

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