Put on the spot (Photo: Jay Pickthorn / Argus Leader)
Is Jeff trying to angle a ‘deal’ for himself on the taxpayer’s dime, and when he can’t get his way, he bails (or pretends he is bailing);
At the Parks Board meeting, Scherschligt said his group was ready to act immediately and that five or six downtown businesses had pledged an amount from $1 million to $10 million.
But Scherschligt balked when he quickly reviewed the purchase agreement that Peska put in front of him Thursday.
“My estimate is it changes the price from $2 million to somewhere over $3 million,” he said. “Obviously, our group is doing this on behalf of the community. We don’t have a plan. So to be honest, we think that’s a little unfair.”
Scherschligt said that if the community wanted the property used for something other than TJN’s facility, it would have to “come up with that extra money.”
Huh? Jeff, you said you had up to $10 million to buy the land. So why are you opposed at spending $3 million for the property? Which by all accounts is it’s real value.
“Don’t think this is a theatrical stunt,” he (Bernstein) said of the surprise purchase agreement.
John Morrell’s isn’t going anywhere for awhile. Let TJN purchase the property and use it. (if you are pressed for time, FF to 55:00, this is where the fireworks start).
I would also like to mention that it is funny how the city got busted in their little behind the door dealings with Jeff.
Your totally off base.
Peska’s move was bush league pure and simple. The only way you make a public move like this is if it actually is in the public’s benefit to do so..ie a donation. Scherschlight was public about his intentions to buy the Zip site and “warehouse” is until the Events Center is ready to go in, if the City wants it there. He makes less money under that scenario because he will sell it to the City for what he has paid for it nearly 7 years ago.
Contrast that to Peska, who’s decided to take the public debate and turn it into his own “Hold ’em” game. He sets a purchase agreement down for more than $1 million than what he paid for the land less than a month ago. This was nothing but theatrics and for Bernstein to say otherwise shreds his credibility. Peska had made his own pile of money and apparently is more about making another pile as opposed to acting in the best interests of the City.
The City at least has realized it needs to get some more rail serviced indutrial sites ready now, so hopefully this will move the tracks dicussion off center and they find TJN a suitable alternate. Alternate sites are all the rage these days.
BTW…Scherschlight has stayed out of the “Build it Downtown” movement, even though the group is pushing the City to consider his site.
He isn’t a “behind the door” guy when dealing with the City, never has been. You simply don’t know what the hell your talking about and you owe him an apology.
What!!!!!? First off, Peska did this not to make an extra $1 Million but to call Jeff out on his bullshit. And he was successful.
Why do I owe Jeff an apology? This guy got a substantial loan, interest free from taxpayers (MY MONEY) to build a beautiful building to his benefit (along with other things at the expense of taxpayers) in a closed door meeting with Munson. The Argus reported it as did other news organizations. This is NOT how government should work, and you know it.
Sy, I also encourage you to watch the video. It is clear that there was some kind of NON-PUBLIC negotiation going on between Jeff and Mike Cooper, as Bernstein points out at the end of the meeting.
He isn’t a “behind the door†guy when dealing with the City
Don’t bogart that joint my friend.
Perhaps a review is in order.
http://www.southdacola.com/blog/2009/07/who-is-calling-the-shots-about-the-river-greenway-project-in-sioux-falls/comment-page-1/#comment-50462
All Jeff does with the City is he articulates a long term vision that several others have advocated over the years. That is simply to make our riverfront down to the Falls attractive at least and like a mini-Riverwalk at most. No one has been looking to get greased over the deal, as I said in the other thread, Jeff is more about making his money on insurance and giving some back on quality of life type projects like Blood Run.
BTW, poly Peska is about as white collar as Dunham, with the exception that Peska hasn’t donated any land for a park.
Peska is about as white collar as Dunham
Back in a previous life I worked for several years in the building trades. In the late ’70’s I worked on a few jobs where Peska also worked. He’s a self made man who built what he has from nothing more than hard work. BLUE COLLAR ALL THE WAY. Dunham? Silver spoon handed to him. Same with Schersclight. Sp?
Peska bought the property for under $2 million ($1.75 sf on 26 acres) and the number on that PA was more like $2.75 sf or $3.1 million. The reason Scherschlight rejected it immediately was he saw the $1 sf difference and knew the sf of the property.
I like Gene and more power to you if you can make a $1 million in under a month, but the City doesn’t want TJN down there and they should be looking at a better site. Jeff was only trying to facilitate that.
Another question for ya, Poly. You always like to toss out the median wage in SF, which one of those two (Peska/Scherschlight) do you think pays better than that number, even to Joe/Jane Six Pack?
Sy – So what you are saying it that it is okay for Jeff to make a profit on reselling the land but Peska cannot?
Schershlight wants to sell his Cherapa site after 5 years to the City at no profit.
Peska wants to sell his site after 3 weeks for a million more $$ because of the recent City reaction to his planned development.
It’s really not difficult to see who’s got the best intrests of the City in mind.
No profit? Seems Jeff has already profited.
Question for anyone. How did Peska end up with this land in the first place? Did he win it in a poker game? And if he did or did not, he came by it fair and square. Others had a chance to purchase it. All they needed was skin in the game. And if Peska stands to make a killing then the city’s movers and shakers like dunham and scherslight were asleep at the wheel. It’s not like Peska is asking more than fair market value.
On the Joe/Jane Sixpack thing. You’re comparing apples to oranges. I’m guessin, at least in this town, neither one of em pay eight hours of pay for eight hours of work in whatever that work might be.
From l3wis
– Jeff received over $50,000 from the city for an option to buy land next to Cherapa for a new Event Center
– Jeff received a $400,000 interest free loan from the city for help with developing Cherapa
– Tipping fees were waived at the city dump for waste from the ZIP feed demolition
All of which was one half of the “I’ll hold it at my cost for 6 years” deal for the Events Center site next to Cherapa.
Cherapa was like a $20 million project, so those incentives are pretty small by comparision. You make it sound like the City financed the whole thing for free.
Did Jeff S, run over your dog or steal a GF or what?
BTW Poly, I know a couple of people who work at Howalt. One is a front line grunt type and the other sells insurances. Both are well over your median wage level.
I know people who work for Gene too, can’t say the same thing.
Did Jeff S, run over your dog or steal a GF or what?
My wife of forty years, nor my dog have anthing to do with how I feel about Jeff. Jeff, like most “businessmen” are motivated by ONE thing, and one thing only. $$$$$$
To pretend it is anything else is not being completely honest. Face it. You DT breakfast club “businessmen” are pissed cuz a nonbreakfast club member “snookered” your butts.
“Cherapa was like a $20 million project, so those incentives are pretty small by comparision. ”
Really? A $400,000 interest free loan is a ‘small thing.’ I don’t think so. I had to pay 2% interest on my tiny $3,700 community development loan. And as soon as that work was finished, I was reassessed and my property taxes went up. Not the case for Jeff, he was handed a TIF.