Sioux Falls Developer trying to get TIFilicious in Rapid City

It shouldn’t be a surprise that this developer is asking for a TIF for a project that doesn’t supply ANY affordable housing;

The apartments will start at around $995 for studios, $1,295 for one bedrooms and $1,895 for two bedrooms.
Luke Jessen, senior director of development at Lloyd, said the company will ask the city for an $8.75 million TIF, although a hearing date has not yet been scheduled.


$995 for a hole in the wall apartment in Rapid City, seems reasonable? Notice how many groups it must go through before approval;

The project will soon appear on the Tax Increment Finance District Review Committee, Planning Commission and Historic Preservation Commission agendas.

We may be served well if we had such a committee;

The committee is comprised of two Rapid City Council members, two Pennington County Commissioner members, one Rapid City Planning Commissioner, one Rapid City Area School District representative, and one Economic Development Partnership representative.

If we had a committee like this, there might be transparency in the process, they actually meet in council chambers and members of the public can attend to see how the TIF is negotiated. What a concept! In Sioux Falls they are negotiated in the basement of the planning office then rubber stamped by the Planning Commission and City Council.



5 comments ↓

#1 D@ily Spin on 12.13.21 at 7:59 pm

Rapid City is a Democratic charter. It’s not the Strong Mayor charter with corruption, oppression, and tyrannical leaders like Sioux Falls. They’ve watched how TIF schemes are preferential and hardly represent citizens. Lloyd doesn’t belong there or anywhere West River.

#2 Fear & Loathing in Sioux Falls on 12.14.21 at 5:28 pm

Cary Grant went to Rapid. Richard Dreyfuss, like bikers, must of passed it on the way to Devils Tower. Coolidge once ran the government from Central High. Borglum wanted the Declaration of Independence placed at Mt. Rushmore. Some wanted the U.N. at Reptile Gardens. A flood didn’t stop them. AND, they have their own bomber fleet. Fireworks are popular there, too. No wonder it’s the home of Tomi Lahren. Rapid is where it’s at. Sioux Falls, not so much. But who gives a TIF? Apparently, Sioux Falls, but not Rapid? Or, do they, too? No wonder the Lakota want it back. But would they keep the Cosmos Mystery Area?

#3 "Woodstock" on 12.14.21 at 5:29 pm

“What?”

#4 Rapid City is a ****hole on 12.15.21 at 10:37 am

Don’t get me wrong, the Black Hills are beautiful, and while I had fun running around on side by sides, I feel it won’t be too long and a lot of the beauty will be gone. I could live in Spearfish, Hot Springs, Hill City, etc….but Rapid City, no way. While downtown is nice, about 1/2 of Rapid is a cesspool. I’m not looking it up, but I can almost guarantee they have more violent crime and murders there than Sioux Falls, but we are gaining on them.

#5 Further Fear & Loathing on 12.15.21 at 6:08 pm

I’ve always admired Rapid’s zoning game plan and adherence.