There seems to be some confusion of where Dakota Gold Alliance was previously located and what the tax incentive is for. I have to do some more digging.
There was a group of properties in the area by the old Avera Sports Dome. The ownership group was listed under Leggett Family Trust. While researching County tax records, they had Dakota Gold listed to the property (which is a possibility because it is a warehouse that could be used for storage, and warehouses fall under the ‘INDUSTRIAL’ designation for tax reductions). Another sourceÂ tells me that Dakota Gold was located at another office in that cluster, but that would have been their formal offices. So the tax reduction was for the warehouse, I’m just not sure at this point if Dakota Gold was using the warehouse at that time, and perhaps that is why they were listed on the tax records.
Folks, this is what happens when secretive administrations don’t tell the public or councilÂ anything for almost a decade.
According to a city ordinance that was passed by the city council in 2008;
March 3rd, 2008 â€“ Sioux Falls City Council
DEFERRED ACTION: 2ND READING: AN ORDINANCE OF THE CITY OF SIOUX FALLS, SD, AMENDING THE REVISED ORDINANCES OF THE CITY BY REVISING THE NAME OF PERSON TO RECEIVE APPLICATION FOR REDUCED TAXATION ON NEW CONSTRUCTION.
Document:Â Ord. 1017
Section 39-139. Discretionary formula report:
In July of each year, the assistant director of planning and building services shall submit a report to the city council of all eligible completed new construction projects which qualified for the discretionary formula beginning in December of 2008. The report will include the description of each qualified property, the base full and true taxable value, the new adjusted full value of new construction and improvements, and the amount of discretionary loss of taxable value as defined in city ordinance of 100%, 80%, 60%, 40% or 20% for each year of the eligible tax abatement.
In other words, by city charter, the city council was supposed to see yearly reports. This gets more interesting by the day.