With two separate agenda items, the Pierre City Commission set fees for Pierre’s new outdoor pool and approved a Tax Increment Financing (TIF) request for a new apartment complex in northeast Pierre.
Pool Fees
Pierre’s new outdoor pool is scheduled to open May 27, 2024. At the Dec. 5 meeting, the City Commission set annual and daily fees for pool entrance.
Annual passes purchased before May 1, 2024, for individuals and families are $100 and $295, respectively. Passes purchased after May 1 are $150 and $345. Daily passes will be $10 for those under 48 inches and $12 for those 48 inches or taller. There is no fee for kids three years old or younger.
Pierre Mayor Steve Harding says the new pool is a much bigger and better facility than what we’re used to in Pierre.
“We’re going from one small bowl with a little slide, to two large, heated pools with multiple slides, play features, a lazy river, and zero-depth entry,” said Mayor Harding. “The new pool experience will be much different!”
Passes go on sale Dec. 15 at CityofPierre.org.
TIF
The Pierre City Commission approved a new Tax Increment Financing (TIF) District for the development of an apartment complex in northeast Pierre. A TIF is an economic development tool that allows a portion of the property tax collected within the district to be used for a limited amount of time to help finance the project.
Stencil Group, a Sioux Falls-based developer, applied for the TIF, and will use about $762,000 in deferred property taxes to cover infrastructure and other allowable project costs. With the planned improvements, the property is estimated to increase in value from $80,600 to $21,300,000. Once the TIF obligation is fulfilled, the property taxes on the new development will be disbursed to the public school district, Hughes County, and the City of Pierre bi-annually through the state tax formula.
Construction of the 100-plus unit apartment is expected to take about a year and a half.