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Posted: April 25, 2025
Rapid City
Agenda Item Summary

Agenda Item Ref. #: 25TI003(b) – Resolution No. 2025-039

Agenda Item Title:

Approve Resolution No. 2025-039, a Resolution Approving the Project Plan for the Robbinsdale Tax Increment Financing District Number Ninety-Five

Origination Group:
Planning Commission
Origination Meeting Date:
04/10/2025
Stage 2 Group Name:
Legal & Finance Committee
Stage 2 Meeting Date:
04/30/2025
City Council Hearing Date:
04/19/2025
Petitioner:
City of Rapid City
Staff Contact:
Mike Dugan, Tax Increment Finance Planner
Location:
Robbinsdale
Agenda Item Summary:
The proposed TIFD boundary is made up of 1,721 residential parcels, 25 commercial parcels and 34 other parcels. The total current value estimation of the TIFD boundary is $457,603,900. The proposed TIFD is located south of St. Patrick Street, north of E. Minnesota Street, west of Campbell Street and east of Mount Rushmore Road. The purpose of this TIFD is for capital improvement projects and fire station improvements to the Robbinsdale area. The requested amount of the TIFD is $27,956,227. All TIFD funded projects and improvements will be completed within the first 5 years from the creation of the district per SDCL 11-9- 13. Outside of TIFD funding, the City is committing $500,000 per year for the next 3 years for single- family residence rehabilitation projects. This commitment will come from the General Fund. These funds will be for residences located within the TIFD boundary. As the Robbinsdale area is an aging neighborhood, many homes are in need of improvements that provide safety and efficiency. 25% of the committed funds will be gifted for rehabilitation projects with no form of repayment from the home owner. The remaining 75% of the committed funds will be distributed in the form of low interest rate loans; utilizing a revolving loan fund. The City will establish an Urban Revitalization Team that will include an outside organizational member that will help determine need, if the rehabilitation project requested is eligible for funding and providing assistance completing each home rehab project. Examples of eligible repairs are but not limited to: electrical, plumbing, window replacement and roof repairs. Examples of ineligible repairs are but not limited to: additions to the home. These rehab projects will improve the safety, efficiency, and value of the homes located within the TIFD boundary. Also, outside of TIFD funding, Community Development Block Grant funds may be a potential funding source for improvements at Robbinsdale Park but can only be obligated after a funding contract with the U.S. Department of Housing and Urban Development (HUD) is executed and an acceptable Environmental Review is completed. Historically, the City has allocated approximately $400,000 annually to eligible projects.

Funding Source & Fiscal Impact (if applicable):

Funding Cost Center

Recommendations:

Origination Recommendation Action:
Approve
Origination Recommendation Notes:
1) If the Planning Commission finds that the proposed district meets the intent of SDCL and the City’s Tax Increment Financing Policy, then staff recommends that the Commission recommend approval of the resolution to create a Tax Increment Financing District to the City Council. 2)If the Planning Commission finds the proposed project plan meets the intent of SDCL and the City’s Tax Increment Financing Policy, then staff recommends that the Commission recommend approval of the resolution to adopt a project plan to the City Council with stipulations. Planning Commission Approved Resolution to create TIFD: 4/24/2025; Planning Commission Approved Resolution to Adopt Project Plan #95 with Stipulations: 4/24/2025
City Council Recommendation Action:
Reject
City Council Recommendation Notes:
City Council Continued to the May 19, 2025 City Council Meeting: 5/5/2025; City Council Denied: 5/19/2025

Attachments & Links to Download:

See also agenda item 25TI003(a) for Creating Robbinsdale

25TI003(b) Resolution No. 2025-039 to Adopt Project Plan Robbinsdale

Published in 2025 - PL Agenda Items
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