Tri-Valley School District school board members say they feel that a TIF to benefit Smithfield Food’s expansion is being forced on them by the City of Sioux Falls and are upset they weren’t consulted on the matter that will affect their school district’s funding.
This tax increment financing (TIF) district will be in the northwest part of Sioux Falls within Tri-Valley School District boundaries and allow Smithfield to offset costs to build a wastewater treatment facility on-site as part of the meat processing plant’s new development. City and business leaders announced the intended move last month.
Tri-Valley School District largely won’t benefit from property taxes in the TIF district, beyond what it will receive in the base valuation, for 20 years…