Developer proposes land swap deal with Rapid City - KOTA Territory News

Developer proposes land swap deal with Rapid City


Rapid City's legal and finance committee green-lighted a potential land swap deal with a local developer Wednesday.
Developer Hani Shafai is proposing a trade of 136 acres of land next to the Rapid City Regional Airport for 164 acres of city-owned property along highway 44.

Much of the city-owned land,  in an area known as the Wally Byam site, is on a flood plane, and has been on the market for at least eight years, according to city attorneys.

Shafai says the city would benefit from having his land around the airport, by being able to control future development. If the swap is granted, Shafai says he will likely donate much of it back to the city to create a park for the benefit of Rapid City's growing  east side community.
Shafai says the value of both properties is nearly equal. The proposal may move forward for negotiations at the next city council meeting on Monday.

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