SIOUX FALLS, S.D. (KELO.com) — Sioux Falls is considering tax relief for the planned Sioux Steel development on the Big Sioux River near Sixth Street.
City planning officials made the case for about $21.5 million in tax increment financing (TIF) for the project.
The money would go toward a proposed parking ramp on the site, where Lloyd Companies plans to include office space, a hotel and a convention center among high-rise buildings.
City officials said they are confident they’ll get the money back once the development is built and starts making money.
The City Council set a second reading on the proposal for February 3.
