PIERRE — The Pierre City Commission approved two agreements Tuesday night to keep development of the former Pierre City Hall site moving forward. Toby Morris with Colliers Securities says a developer’s agreement will lay out the details of how a recently approved Tax Increment Financing or TIF District will work for the city and Chapelle Investments…
Morris says a sales tax rebate agreement is another important tool to help Chapelle Investments finish the over 30-million dollar project…
Pierre Economic Development Corporation C-E-O Jim Protexter says Pierre has utilized the sales tax rebate before…
The sales tax rebate has a 20-year sunset so it will not be in place forever. The Pierre City Commission unanimously approved both agreements.
