Nothing like taking money out of the public school and county’s kitty and building luxury quarters for the rich in Sioux Falls.
Downtown residential development in Sioux Falls had lagged that of other cities, despite the central presence of beautiful Falls Park. But things picked up after city leaders worked to attract more commercial activity. Hospitals, banks, hotels, and others moved in. Craig Lloyd, CEO of Lloyd Co., made the $2 million, winning bid for a city-owned brownfield, using tax increment financing to improve the site. He rehabbed two buildings, demolished another, and built three apartment buildings.Â
Funny how they forgot to mention Lloyd went back on their promise to have retail on the first floor, but still gave them the TIF anyway. Who runs this town? Good question.