Event Central went before the Yankton City Commission to request an amendment to the Tax Reimbursement Agreement that they have in place.
Currently, Event Central has a 1% sales tax reimbursement, up to 500,000 dollars or as long as 10 years, whichever comes first.
Dave Mingo, Yankton’s Community and Economic Development Director, talks about the proposed amendment…
Matt Evens, owner of Event Central, talks about the reason this agreement is so important to getting the much-needed repairs completed for these potential tenants…
Commissioner Ben Brunick talks about why he is not comfortable with making this decision on such short notice…
After nearly two hours of vigorous debate and discussion, the Commission eventually decided to grant Event Central a 2% tax reimbursement for up to 1.7 million dollars for up to ten years, starting when the first of these new stores opens for business.
The national retailers that are looking into moving into Event Central cannot be named until the leases have been signed, so that is why they are not mentioned by name during the meeting.
