Last month (Jan. 16, 2024), South Dakota Housing awarded the Stanley Townsite project in Fort Pierre $705,000 from the Housing Infrastructure Financing Program. This week (Feb. 20, 2022), the Fort Pierre City Council approved a conditional commitment for the planning of the development site along Waldron Street.
Public Works Director Rick Hahn says he’s spoken with some developers about the project that would establish the infrastructure needed to build single family and multifamily housing units.
In order to accept the money for the project, Hahn says Fort Pierre must create a Tax Increment Financing District– or TIF– that could be active for 20 years.
Alderman Scott Deal questioned the use of a TIF for this type of project.
Finance Officer Roxanne Heezen says the conditional commitment doesn’t lock Fort Pierre into anything.
In a rare occurrence at a Fort Pierre City Council meeting, the vote to sign the conditional commitment received a split vote. Aldermen Todd Bernhard, Rick Cronin and Callie Iverson voted in favor, while Aldermen Scott Deal and Greg Kenzy voted against it. Alderman Larry Cronin was not able to attend the meeting.
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