The Sturgis City Council just approved a new Tax Increment District plan, here’s what it means

11 28 Sturgis Waterpark Sotvo00 00 12 00still001RAPID CITY, S.D. – The Sturgis City Council just approved a $9.3 million dollar Tax Increment Finance District (TIF) for TIF District #25.

The tax will go towards financing the new Sturgis Adventure Park along with new housing and commercial development.

“It is how we’re going to pay for the project. And it also includes housing development, commercial development,” said Beka Zerbst of the Sturgis City Council.

$5.3 million will be allocated for the adventure park and the remaining $4 million will be used for the housing and commercial development.

There will be about 75 new homes constructed on part of the 77 acre plot in southwestern Sturgis.

Don’t worry though, this won’t increase property taxes for Sturgis residents. It’s just a reallocation of where the money is being spent.

Construction is expected to begin within a year, after the next few planning stages finish up. The city has been collaborating with community members throughout the planning process.

So far, the community has expressed a strong agreement on wanting an inflatable water obstacle course and a mini golf course.

To stay up to date on the latest developments, they have a Facebook page.

 

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