Lincoln County approves financing package for 85th Street interchange

TIF district will be used to repay $15 million DOT loan

Lincoln County commissioners put skin in the game Tuesday for what is anticipated to be one of the largest commercial developments in South Dakota.

The commission approved a $15 million Tax Increment Financing District that will be used to offset the cost of infrastructure along the 85^th Street and Interstate 29 area, which is the site of a future highway interchange. That interchange is expected to drive growth in south Sioux Falls, Tea and Harrisburg, and was made possible by Sen. John Thune, who secured $30 million in funding.

Lincoln County’s $15 million comes in the form of a low-interest loan from the Department of Transportation. The 10-year loan will be paid off from extra tax revenue that is generated by the TIF.

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