Lincoln County betting on growth

County considering tax break for development near I-29, 85th Street

CANTON – You don’t have to be a gambler to take this bet.

The Lincoln County Commission is moving forward with borrowing $15 million to help spur development along 85^th Street and Interstate 29. The money would be used to finance infrastructure in the area, opening land to potential commercial and residential development. The money would be paid back through the creation of a tax increment financing (TIF) district, which allows project costs to be offset with temporary tax breaks.

The County Commission voted April 9 to move forward with the plan.

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“Everybody is agreeing that this is probably the best route for the county to finance its $15 million contribution, which is a huge sum,” Commissioner Jim Schmidt told The Dakota Scout.

Indeed, it’s been the county’s plan for a decade – memorialized with the state, property owners on the east and west sides of Interstate 29 and the cities of Tea and Sioux Falls. All those stakeholders have skin in the game.

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