Posted: June 26, 2025
Rapid City
Agenda Item Summary

Agenda Item Ref. #: LF070225-11-25TI005 & LF070225-12-25TI005 - Rapid City Destination District

Agenda Item Title:

25TI005 - Resolution 2025-069 to Create Tax Increment Financing District Rapid City Destination District and Resolution 2025-070 to Adopt Project Plan for Rapid City Destination District

Origination Group:
Planning Commission
Origination Meeting Date:
06/26/2025
Stage 2 Group Name:
Legal & Finance Committee
Stage 2 Meeting Date:
07/02/2025
City Council Hearing Date:
07/21/2025
Petitioner:
Avid4 Engineering, Inc for Libertyland USA, LLC
Staff Contact:
Mike Dugan, Tax Increment Finance Planner
Location:
North of East Mall Drive, west of N. Elk Vale Drive and east of N. La Cross Street
Agenda Item Summary:
The applicant has submitted a TIF application with $125,058,020 in proposed costs. The proposed multi-use project is located approximately 2.5 miles northeast of downtown Rapid City. The project site is generally bounded by Seger Drive and existing industrial uses to the north, East Mall Drive and existing retail uses to the south, North Lacrosse Street to the west, and Tish Boulevard to the east. The proposed development will facilitate a multi-faceted visitor-oriented destination which may include the following components: historic-themed interactive attraction(s), lifestyle center with retail, dining & entertainment uses, lodging & conference facilities and residential development that includes community serving retail. In the Commercial and Entertainment Zone specifically, nearly 65,000 sq. ft. will be dedicated to entertainment venues, 25,000 sq. ft. to retail and 20,000 sq. ft. to dining. The proposed TIFD classification is Economic Development. The TIFD will support expanded economic growth via new employment opportunities, improved local infrastructure and increased housing.

Funding Source & Fiscal Impact (if applicable):

Funding Cost Center

Recommendations:

Origination Recommendation Action:
Approve with Stipulations
Origination Recommendation Notes:
Planning Commission Approved with Stipulations: 6/26/2025
City Council Recommendation Action:
Approve
City Council Recommendation Notes:
City Council Approved Resolution 2025-069 to Create Tax Increment Financing District Rapid City Destination District (8-1): 7/7/2025; City Council Continued Resolution 2025-070 to Adopt Project Plan for Rapid City Destination District to July 21, 2025 City Council Meeting: 7/7/2025; City Council Approved Resolution 2025-070 to Adopt Project Plan for Rapid City Destination District (8-2): 7/21/2025

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