Title
Action on Resolution 20-091, a Resolution approving Tax Increment District #10 Project Plan.
Body
Summary:
Adoption of a project plan detailing the proposed improvements, associated costs, and the plan for financing the improvements.
Background:
The City of Brookings is proposing the creation of Tax Increment District #10 to construct public improvements for the construction of 15th Street South and 7th Avenue South and associated water, sanitary sewer, storm sewer, and detention pond improvements. The improvements will complete the connection of two collector streets and expand the street network by connecting 20th Street South and 12th Street South via 7th Avenue South and Main Avenue to Medary Avenue with the completion of 15th Street South.
State law (SDCL 11-9-13) requires the Planning Commission adopt a project plan for each tax increment district and submit the plan to the governing body. The plan must contain specific information as stated in SDCL Chapter 11.
The City is responsible to front the costs of the project improvements and will only be reimbursed property tax increment generated from development occurring with the district.
Recommendation
Recommendation:
The Planning Commission voted 8 - 0 recommending approval of the project plan. The Development Review Team (DRT) recommends approval of the project plan.
Body2
Attachments:
Memo
Resolution
Minutes
Project Plan
Map