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Kimball council approves creation of Tax Incremental District 2 to back developer project
Summary
The Kimball City Council adopted Resolution #2026-08 on June 25, 2026, creating Tax Incremental District Number Two (TID 2) and approving its project plan; the vote was 6-0. City officials were told the TIF is developer-funded, that a loan-commitment letter was received, and that no city debt or general-fund pledge is proposed.
The Kimball City Council adopted Resolution #2026-08 on June 25, 2026, creating Tax Incremental District Number Two (TID 2) and approving the TIF project plan by a 6-0 roll call vote. Mayor Bill Gough presided over the special session, which began at 7:30 p.m. and included a public hearing conducted while the council temporarily acted as the Planning Commission.
Micayla Bamberg of Morgan Theeler LLP, representing Shannon Capital Inc., presented the project plan and told the council that the proposal is developer-funded and that "there is no city debt or general fund pledge proposed for this TIF." Bamberg also said the developer provided a bank loan-commitment letter showing eligibility for funding and noted that state statute allows a TIF of up to 20 years; the project plan anticipates it could run the full 20 years or end earlier if the TIF amount is paid off.
Council members asked questions during the hearing about aspects of the project plan, including drainage language and taxation calculations; Brule County representatives requested clarification on assessed valuations used in TIF calculations and Bamberg explained how any assessed-value overage would be handled. After discussion, the council approved the creation and boundaries of TID 2 and the accompanying project plan by unanimous roll call.
The resolution includes statutory findings under South Dakota Codified Law related to TIF creation, directs the Finance Officer to take actions required under SDCL, and states that a Developer’s Agreement consistent with the resolution and project plan will be approved by separate council action. The project plan and resolution are on file with the Kimball Finance Officer.
