Fort Pierre City Council Approves Agreement To Begin Planning For Residential Tax Increment Financing District

Fort Pierre City Council Approves Agreement To Begin Planning For Residential Tax Increment Financing District

FORT PIERRE — The Fort Pierre City Council has agreed to move forward with a planning agreement with H-M-E Management for planning of a development in the northern part of Fort Pierre. The development would use Tax Increment Financing to help develop lower cost housing. A special meeting was held last Thursday to discuss the idea with H-M-E officials. Public Works Director Rick Hahn says a T-I-F would not increase taxes…

The idea brought a series of questions from Councilman Greg Kenzy…

Hahn says that’s not the case…

Hahn says H-M-E will begin Phase I this year with development starting next year and possibly new homes being built by the middle to end of 2022.