The Argus Leader reported today that the RFPÂ for the mixed use parking ramp downtown was awarded to a joint venture which includes Ramkota Companies and Bender Real Estate.
These companies are lead by Robert Thimjon and Michael Bender.
Both men have donated in the past to the mayor and his campaigns;
Nothing nefarious here, it is perfectly legal in South Dakota to ‘pay to play’. A certain Ad Agency in Sioux Falls has been doing it for years with the state.
So it is NO surprise who got awarded the RFP. The bigger question here is if any city officials or family members are or will be investing in the project? A good question to ask at the presser tomorrow.
Why more parking downtown? What a waste when parking garages are desperately needed at the Events Center & Airport.
Exactly. Wonder what this is going to set the taxpayers of Sioux Falls back? 600 spots and rooftop park? Besides the millions we will have to dump in it, I’m wondering where the money will be coming from? And how will the property taxes work with public parking on the first level. The Devil is in the details on this one.
Ok, build it. Finally, winter shelter for vagrants. Have police drive through on subzero nights so nobody dies in stairwells. I’ll come by twice a week with a barrel, kindling, corn pellets, Ramen noodles, & water. Less than $50 could feed and warm 20 people. That’s $50 more than the city spends on social programs.
Two nights a week cheaper than one ticket into the Events Center, 3 trips to the indoor pool, 2 sets at indoor tennis, etc.. Saving lives much more important than buying tennis balls.
Only $2000?? Maybe you should pony up and buy some political capital.
speaking of taxes, perhaps this project is why the city won’t do a tif for washimgton square.
scott, you probably hit the nail on the head, as I understand it, many of the investors that are needed for the Washington Square deal may go to this project. There’s only so many $40 million dollar projects in town that can be privately funded.
Also, the number being quietly thrown around is that the city will pony up $10 million by giving itself a loan from there reserve fund. What is unclear though is if the city will actually OWN the parking portion of the project or if they will lease. Then there’s the property tax issue. Who will pay what, and will this $10 million be a TIF or a loan. I would prefer we gave nothing, and just leased the space once the building is done so we could get maximum property taxes. But we all know that will never happen.
For a 600 car garage at the airport, spaces would go for $10/day with annual revenue of 2 million. It’d pay for itself in 5 years. ‘Paid for’ is not a city concept, only 30 year bonds.
The Washington Square project has all they need for equity to make the project go. There’s no investors jumping ship as they are totally different projects with different backers. WS is condos and retail. Banks is retail, office, hotel and apartments. The City would be smart to support both of them, that way you get much needed spots on both sides of Phillips.