Vermillion Considers $1.6M TIF for Affordable Housing
Town of VermillionCity · SD- Disclosed value
- $1,617,322
- From agenda
- Document date
- Jul 28, 2025
- Term
- 20 years
The 30-second brief
City of Vermillion is considering a tax increment financing agreement with AMS Building Systems LLC for $1,617,322 over 20 years. The project aims to construct a 24-unit affordable housing complex near Cottage Place and Cottage Street, with rent rates at or below South Dakota's affordable housing limits. The TIF will assist with infrastructure costs and is contingent on the project being classified as Affordable Housing or Economic Development by the state.
Ams Building Systems holds this development contract with Town of Vermillion. Its other public contracts on record include work for City of Vermillion.
Term as filed: 20 years.
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Contract details
- Contract type
- Development
- Amount
- $1,617,322
- Document date
- July 28, 2025
- Term
- 20 years
- Vendor
- Ams Building Systems
- Agency
- Town of Vermillion
- Source document
- town-of-vermillion-planning-zoning-commission-agenda-tif-12-zoning-changes-jul-28-2025_bcd.pdf (Agenda)
Ams Building Systems's other public contracts
More Town of Vermillion contracts
Questions about this contract
Who was awarded the development contract by Town of Vermillion?
Ams Building Systems was awarded this development contract by Town of Vermillion, as recorded on July 28, 2025. The contract value is $1,617,322.
How much is the Ams Building Systems contract with Town of Vermillion worth?
The Ams Building Systems contract with Town of Vermillion is valued at $1,617,322, covering development work.
What type of contract is this?
This is a Development contract, documented as a agenda record.
Where was this contract approved?
This contract appears in town-of-vermillion-planning-zoning-commission-agenda-tif-12-zoning-changes-jul-28-2025_bcd.pdf (Agenda), dated July 28, 2025 from Town of Vermillion. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Ams Building Systems hold?
Ams Building Systems may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is Town of Vermillion currently buying?
Explore Town of Vermillion's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.