TIF Approved by Rapid City City Council to Improve SDSMT Campus Neighborhood
TIF approved for the neighborhood area surrounding the SDSMT campus by the Rapid City City Council on February 21, 2012 will cost $1,650,000 but make the neighborhood safer and offer new student housing. Tax Increment Districts, or TIFs, were first allowed by the state legislature in 1978 and the first district in Rapid City was created in 1983. The purpose of the TIF is to help finance redevelopment projects. Guidelines for consideration by the members of the TIF Committee can be reviewed here and the Rapid City Ordinance that allows for the TIF districts to be created can be viewed here. A list of past and active projects is also available from the TIF Committee's webpage. Follow the development of the SDSMT neighborhood TIF and other projects by tracking this issue on the Black Hills Knowledge Network.