HomeMy WebLinkAboutRes. 20-089Resolution 20-089
Resolution Amending Tax Increment District Plan Number One (#1)
Whereas, the Planning Commission pursuant to SDCL § 11-9-18 has passed an
amendment to the project plan of Tax Increment District Number One; and
Whereas, Tax Increment District Number One has $1,914,272.40 of Project Costs (the
"Remaining Project Costs") yet to be spent; and
Whereas, the duration of Tax Increment District Number One is twenty (20) years
pursuant to SDCL § 11-9-25; and
Whereas, pursuant to SDCL § 11-9-18, the City Council is required to approve any
amendment to the initial project plan.
Now, Therefore, Be It Resolved by the City Council of the City of Brookings, South
Dakota, that Tax Increment District Number One initial Project Plan be amended to
reflect that the duration of Tax Increment District Number One shall be twenty (20)
years and the Remaining Project Costs shall be incurred and paid for 10,000 linear feet
of infrastructure prior to the expiration of the Tax Increment District Number One.
Passed and Approved this 10th day of November, 2020.
CITY OF BROOKINGS
Keith W. Corbett, Mayor
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