Landowners and Lincoln County are pitching in over $19 million to develop an interchange and the surrounding area at 85th Street and I-29.
Ongoing efforts to prepare the Interstate 29 and 85th Street area for an interchange and increased development opportunities are taking a new direction. At Monday evening’s Tea City Council meeting, Erica Beck, vice president of development at Lloyd Companies, and Toby Morris, senior vice president of public finance with Dougherty & Company, LLC, spoke about the current path landowners and other stakeholders are exploring, one that would have the area under a form of self-governance known as a Community Improvement District (CID).
The idea is to give stakeholders additional power, particularly with regard to finances, to allow development to gain traction and take hold without having to wait for the borders of surrounding established communities, Tea and Sioux Falls in this case, to reach the area. The borders of the proposed CID are somewhat fluid at this time, and many details are still in the process of being worked out, Beck said.
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