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Groundbreaking for Sturgis senior living center set for Thursday

Representatives from the city of Sturgis, the Sturgis Economic Development Corporation, and developers for Dolan Creek Apartments will gather at 10 a.m. today for a groundbreaking ceremony for a new senior living center on the city's southwest side.

Officials are inviting the public to the ceremony, which will be held at the corner of Dolan Creek Road and Moose Drive, for the planned development of a three-story, 50-unit independent and assisted living center. Additionally, the developer is planning to build three townhomes, for a total of six residential units fronting Ferguson Drive.

The Sturgis City Council approved a Tax Increment Financing District in September 2020 to support the senior living center. However, the project had been delayed due to a redesign of the ventilation and several rooms in response to the COVID-19 pandemic and increased materials costs.

At the City Council's Sept. 20 meeting, the council approved an amendment to the TIF District to include a revision of the anticipated assessed value of the facility and to increase the amount due to the addition of the three townhomes.

The TIF District will be used to fund public infrastructure improvements for the reconstruction of Ferguson Drive and Hurley Drive, and improvements to portions of Moose Drive and Dolan Creek Road. The TIF District will also allow for stormwater improvements in the Murray Addition.

Essentially, a TIF District allows for the property tax levy to be set at a certain level prior to the improvements. As the property value increases, that additional revenue from the increased value would be used to pay for the infrastructure improvements. Once the TIF is paid off, the full value of the property would be allocated to the taxing entities, the city, the county and the school district.

The City Council also approved a $400,000 economic development loan for the project. The terms of the loan will be for 36 months in interest payments, with the principal of the loan due in full at the end of the period.

Contact Nathan Thompson at nathan.thompson@rapidcityjournal.com.

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