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Urban3 analysis: Rapid City downtown and mixed-use land far more productive per acre; infrastructure funding gap highlighted
Summary
Consultant Urban3 told Rapid City’s Public Works Committee the city’s downtown and mixed-use parcels yield far higher revenue per acre than sprawling big‑box and single‑family areas, identified a large infrastructure funding shortfall (estimated gap in roads ~ $57M annually versus current spending), and recommended rebalancing TIF districts and incentivizing denser infill.
Urban3, a geospatial finance firm, presented an economic analysis to Rapid City’s Public Works Committee on Dec. 9 that found downtown mixed‑use properties and some medium‑density residential typologies generate substantially more revenue per acre than big-box retail and low‑density single‑family neighborhoods.
Heather (Urban3 presenter; introduced by the committee) explained the firm’s “value‑per‑acre” approach and showed examples comparing a downtown building that produces hundreds of thousands of dollars per acre in tax value…
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