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

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

2021-01-01
By United States. Federal Highway Administration

File Language:

English

Details

Corporate Creators:

United States. Federal Highway Administration
Corporate Contributors:

United States. Federal Highway Administration. Center for Innovative Finance Support
Subject/TRT Terms:

Access Roads Construction Projects Financing Loans Value Capture
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
Collection(s):

Federal Highway Administration
Main Document Checksum:

urn:sha-512:472222a7c0970878a5a2c795a927318a3546d02cdfc9fef4c3efea97a9525d191358205a4a6fb4c9b33921a7ab808b205301070b7325ab0e52b201b9d3883382
Download URL:

https://rosap.ntl.bts.gov/view/dot/63429/dot_63429_DS1.pdf
File Type:

[PDF - 583.38 KB ]

File Language:

English

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