Print this page
Posted: July 01, 2024
Rapid City
Agenda Item Summary

Agenda Item Ref. #: 24TI001 - Camden Heights Affordable Housing and Infrastructure

Agenda Item Title:

24TI001 - Resolution to Create Tax Increment Financing District and a Resolution to Adopt a Project Plan

Origination Group:
Planning Commission
Origination Meeting Date:
05/09/2024
Stage 2 Group Name:
Legal & Finance Committee
Stage 2 Meeting Date:
07/10/2024
City Council Hearing Date:
07/01/2024
City Council First Reading Date:
07/15/2024
Petitioner:
Elmington Affordable LLC for ECG Rapid City GP LLC
Staff Contact:
Mike Dugan, Tax Increment Finance Planner
Location:
West of E. North Street and north of East Anamosa Street
Agenda Item Summary:
The applicant has submitted an application for a Tax Increment Financing District with $12,432,155 in proposed project costs. The purpose of the project is to support development of a low-income affordable housing residential development with 252 units. The proposed costs include infrastructure improvements, land acquisitions, and financing for the project. The proposed tax increment district is 48.77 acres in size.

Funding Source & Fiscal Impact (if applicable):

Funding Cost Center

Recommendations:

Origination Recommendation Action:
Approve with Stipulations
Origination Recommendation Notes:
Planning Commission Approved Resolution to Create Tax Increment Financing District and a Resolution to Adopt a Project Plan: 5/9/2024
City Council Recommendation Action:
Approve
City Council Recommendation Notes:
Set for Hearing to be heard at the July 15, 2024 City Council meeting: 7/1/2024; City Council Approved: 7/15/2024

Joomla! Debug Console

Session

Profile Information

Memory Usage

Database Queries