City of Watertown Planning Commission Agenda Packet 2026-06-04
TIF District 24 Financing Sought by High Five Development
Trusted by teams at
Description
The City of Watertown Planning Commission is considering approval of Tax Increment Financing District No. 24 to reimburse High Five Development LLC up to $4,412,618.00 in eligible public infrastructure costs for the Prairie Haven II affordable housing project. The TIF is projected to run up to 20 years, with infrastructure completion targeted by April 2027 and full buildout by April 2030.
Contract Details
Contract Amount
$4,412,618.00 (TIF-eligible project costs requested)
Vendor
HIGH FIVE DEVELOPMENT LLC
Agency
City of Watertown, SD
Contract Type
FINANCIAL_SERVICES
Document Date
June 4, 2026
Contract Term
Estimated TIF maturity 20 years; projected completion of public infrastructure April 2027 and entire project April 2030
Renewal Date
2046-04-30
Renewal Info
Single TIF district with an estimated 20-year maturity; no explicit renewal options are described, but state law may allow plan amendments within statutory limits.
More from HIGH FIVE DEVELOPMENT LLC
Related Contracts
More from City of Watertown
City of Watertown Airport Board Agenda 2026-06-02
City of Watertown Proposed City Council Agenda 2026-06-01
City of Watertown Proposed City Council Agenda 2026-06-01
City of Watertown Proposed City Council Agenda 2026-06-01
City of Watertown Proposed City Council Agenda 2026-06-01
Want to learn more?
Get alerts on contract renewals, new awards, and vendor activity.
Bring us your territory.
We'll show you what is forming.
See live SLED buying signals, source docs, decision-makers, contract context, and the next step into your CRM or pipeline.