The committee reviewing Rapid City's tax increment financing policy decided Tuesday it needs more time before submitting its package of proposed policy changes to the mayor.

Formed a year ago by Mayor Alan Hanks, the committee appeared to be on the verge of wrapping up its work in late July, but last-minute changes have extended its work. On Tuesday, the committee decided a finance subcommittee needs to take another look at the revised policy's interest-rate language.

The full committee will schedule another meeting in about 30 days, though no specific date has been chosen.