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Posted: July 07, 2016
Rapid City
Agenda Item Summary

Agenda Item Ref. #: 16TIF002 Unnamed Tributary Channel Improvements

Agenda Item Title:

16TIF002 - Request to create an economic tax increment district

Origination Group:
TIF District Review Committee
Origination Meeting Date:
07/12/2016
Stage 2 Group Name:
Planning Commission
Petitioner:
Yasmeen Dream LLC
Staff Contact:
Patsy Horton
Location:
Southeast Quadrant of Elk Vale Road and SD Highway 44
Agenda Item Summary:
The purpose of this proposed Tax Increment District is to realign a portion of the Unnamed Tributary Channel and construct Element #8 identified in the Unnamed Tributary Drainage Basin Design Plan in order to maximize development potential of the property located at the northwest portion of Orchard Meadows.

Funding Source & Fiscal Impact (if applicable):

Funding Cost Center
Funding Source & Fiscal Impact Notes:
The Project Plan will be funded by the applicant

Recommendations:

Origination Recommendation Notes:
1. Determine if application meets the intent and purpose of Rapid City’s TIF Policy Options: Yes: Motion to approve creating district and associated project plan. Committee task complete. Yes: Motion to approve creating district and associated project plan with changes to allowable costs. Committee task complete. No: Motion to deny Applicant may appeal motion to deny creating the district to the Planning Commission. If Planning Commission votes to deny creating district, request fails. (Not appealable to Council.) If approved, staff will develop a project plan for consideration by Planning Commission and City Council.

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