Rapid City’s Council Chambers were packed Wednesday as the Finance Office held an informational meeting on tax increment financing (TIF), a redevelopment tool the city has used for nearly 40 years.
Finance Director Daniel Ainslie and his staff explained how TIFs work and fielded questions from residents, stressing that the session was meant to inform rather than debate specific projects.
He pointed to Cabela’s and Rushmore Crossing as examples of developments supported by TIFs that now generate millions in property and sales tax revenue.
A second informational session is scheduled for today at 5:30 p.m., and Ainslie encouraged residents with questions about TIFs, property taxes, or the city budget to attend.
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