Committee forwards SDHDA promissory note for Westgate/Cheyenne development; transcript shows conflicting principal amounts
Renee Baker presented a promissory note under the South Dakota Housing Development Authority's housing infrastructure financing program for the Westgate Road and Cheyenne Boulevard project; she said repayment will be made from sales tax. The committee voted to forward the promissory note to the city council, but the transcript records a garbled principal amount that could not be reliably transcribed.
The full story
Renee Baker, the finance officer, described the promissory note related to the South Dakota Housing Development Authority's housing infrastructure financing program for the Westgate Road and Cheyenne Boulevard development. She said this document sets out repayment terms and indicated the obligation will have a general fund impact because it will be paid back by sales tax and recorded in the roads department accounts.
Sign up to keep reading.
Your free newsletter brings you what your city council, county, and school board discussed and decided.