Yankton County, South Dakota: Napa Junction Rail Industrial Park Tax-Increment Financing

Details

• Corporate Creators:
  United States. Federal Highway Administration
• Corporate Contributors:
  United States. Federal Highway Administration. Center for Innovative Finance Support
• Subject/TRT Terms:
  • Value capture
  • Construction projects
  • Financing
  • Access roads
  • Loans
• Resource Type:
  Brief
• Geographical Coverage:
  United States;South Dakota
• Corporate Publisher:
  United States. Federal Highway Administration
• Abstract:
  A private developer purchased a property to build a rail-served industrial park with specialized grain-handling facilities, supporting regional economic development goals, but the site lacked the necessary highway access. A partnership between a county government and a private developer allowed the county to receive a low-interest loan through the State DOT infrastructure loan program for local governments to upgrade a gravel road to a concrete industrial access road. The loan is repaid by the tax increment from a TIF district, with risk to the county mitigated by a guarantee from the private developer to meet debt service obligations in years when the increase in property values does not generate sufficient tax increment to meet loan payments.
• Format:
  PDF
• Download URL:
  https://rosap.ntl.bts.gov/view/dot/63429/dot_63429_DS1.pdf
• File Type:
  [PDF - 583.38 KB]
• Collection(s):
  Federal Highway Administration
• Main Document Checksum:
  urn:sha-512:472222a7c0970878a5a2c795a927318a3546d02cdfc9fef4c3efea97a9525d191358205a4a6fb4c9b33921a7ab808b205301070b7325ab0e52b201b9d3883382