RAPID CITY - The
Rapid City council will consider on Monday revisions to agreements
made in June with Cabela's to account for removing the Visitor
Information Center from the incentive package used to attract the
store.
Essentially, the
agreements amend the prior agreements to reflect changes made since
June, according to city attorney Jason Green, which include not
relocating the VIC inside the new Cabela's, transferring
approximately three acres of land around the VIC back to the city
and putting in writing Cabela's offer to donate 5 percent of future
proceeds from selling the 27 acres of land included in the
incentive package toward a proposed soccer complex.
An accompanying tax
increment financing developer's agreement will also be revised to
reflect the changed incentive agreements. The city is using the TIF
to recover the land value and cash it is giving to
Cabela's.
