Nov 27, 2018BoardMeeting
BoardOpportunity Capture Fund Minutes
The committee reviewed financial reports and discussed a funding request from the Rapid City Economic Development Partnership on behalf of United Parcel Service. The request was for support regarding job training, fixed assets, equipment, and building improvements. Following deliberations on the projected payroll increases and wage averages, the committee approved a $104,000 grant, structured to be disbursed in two equal installments tied to the purchase of a new lot and the construction of a new building, subject to a three-year clawback provision.