ABERDEEN, S.D.(HubCityRadio)- At Monday night’s Aberdeen City Council, there was some confusion about TIF(Tax Increment Financing) #45.  This TIF was being pushed by the Aberdeen Development Corporation for property on the east side of Aberdeen.

ADC Executive Director Tim Hanigan provided information to better understand this.  He starts by talking about hos this TIF came about.

Hanigan talks about how complicated TIFs can be.

Confusion came when it came to to the funding for the infrastructure.  Hanigan admits that there was an error made by them in determining what they were looking for.

The final decision on the amount of the TIF for the ADC was over 4.1 million dollars.  Hanigan talks about how they determine that figure.

There is no Aberdeen City Council on Monday(Second Monday of the month).  Hanigan explains the urgency to getting this done as soon as possible.

Hanigan explain what they are looking to put into the Roosevelt Industrial Park once it is complete.

Aberdeen City Council voted 4-3 in favor of this TIF.