Minnehaha county commissioners want say on TIF projectsSIOUX FALLS (AP) — Some county commissioners say they should have a say on which projects qualify for a development incentive in Sioux Falls.
SIOUX FALLS (AP) — Some county commissioners say they should have a say on which projects qualify for a development incentive in Sioux Falls.
The program is known as the Tax Increment Finance District, or TIF. The districts are designed to help development by using anticipated increases in property tax values to reimburse developers for work.
The media reports that 17 districts have been approved since TIFs began in the city in 1989.
Some Minnehaha County commissioners say there are long-term benefits to the program, but are worried about short-term costs.
Says commission chairman Dick Kelly, "We end up picking up more work without any means of financing it for a long time."
Commissioner Gerald Beninga says the city should outline specific criteria on which projects are eligible for TIF.