Commissioners briefed on Washington Square TIF project

SIOUX FALLS, S.D. (KELO AM) - Developers briefed the Minnehaha County Commission today on an eight to nine story, $30 million dollar multi-use building at 12^th and Main in downtown Sioux Falls.

If approved, the project would need over $4.5 million dollars in tax increment financing.

Once the TIP is paid off, in ten years, it would mean property taxes of $75,000 for Minnehaha County, over $312,000 for the Sioux Falls School District and $108,000 for the City of Sioux Falls.

The Sioux Falls planning commission will consider approval early next month and the council will consider the plan mid-June.