PIERRE, (KCCR) — The Pierre City Commission has approved a new Tax Increment Financing District for a planned apartment complex near the Pierre Municipal Building. Toby Morris with Colliers says with this TIF there are some restrictions put on the rent of the apartments…
Morris says that does seem high for so-called workforce housing but current inflation is having an impact…
Morris says the developer of the Abbie Road Apartments, the Stencil Group, expects to get the project done as soon as they can…
Stencil Group intends to use 762-thousand dollars in deferred property taxes to cover infrastructure and other allowable costs under a Tax Increment Financing District.
