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Posted: September 02, 2025
Rapid City
Agenda Item Summary

Agenda Item Ref. #: LF082725-06 - 25TI011 - Resolution 2025-092

Agenda Item Title:

082725-06 - 25TI011 - Resolution 2025-092 Amendment No. 1 to the Project Plan for Tax Increment District No. 86 Black Hills Industrial Center

Origination Group:
Planning Commission
Origination Meeting Date:
08/21/2025
Stage 2 Group Name:
Legal & Finance Committee
Stage 2 Meeting Date:
08/27/2025
City Council Hearing Date:
09/02/2025
Petitioner:
Dream Design International, Inc for Black Hills Industrial Center, LLC
Staff Contact:
Mike Dugan, Tax Increment Finance Planner
Location:
SD Highway 79 and Old Folsom Road
Agenda Item Summary:
This request is for amendment #1 to the project plan that follows the update of the master plan with no additional money. This amendment is for the reallocation of approved funds. As part of this amendment Aesir Boulevard is being removed from the project as SDDOT will not allow a traffic signal at the intersection of Highway 79 and the proposed Aesir Boulevard. The City of Rapid City needs a traffic signal at the landfill intersection and the SDDOT would not allow two traffic signals along Highway 79. Capacitor Boulevard will be constructed with the amendment to access land Aesir Boulevard was proposed to access. Rail lines are not needed now until Phase II and less rail will be required. Lastly, the off-site water to Phase II as Old Folsom utility improvements will be sufficient for fire protection of the Phase I construction. Phase I will be completed before the 5-year construction time limit per SDCL 11-9. Phase II will be developed if additional big industrial users close within the 5-year TIF limit (2027.) If additional big industrial user(s) are not confirmed or secured prior to the 5-year establishment of the TIFD, an overlapping future TIF would be needed to cover Phase II improvements whenever needed and the user(s) are secured. None of the Phase II improvements are needed for the identified users in Phase I. The TIFD classification is Industrial; which will not impose an additional school levy on all real property within the Rapid City Area Schools District, but instead be made up across the entirety of the State of South Dakota.

Funding Source & Fiscal Impact (if applicable):

Funding Cost Center

Recommendations:

Origination Recommendation Action:
Approve
Origination Recommendation Notes:
Planning Commission Approved Resolution 2025 -092 Amendment No. 1 to the Project Plan for Tax Increment District No. 86 Black Hills Industrial Center: 8/21/2025
City Council Recommendation Action:
Approve
City Council Recommendation Notes:
City Council Approved Resolution 2025 -092 Amendment No. 1 to the Project Plan for Tax Increment District No. 86 Black Hills Industrial Center: 9/2/2025
Published in 2025 - PL Agenda Items

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