First Fiddle-Faddle does his best bang-up cracker-jack job of defending their investors;
Pfeifle said another protection the city has against improper investors is inherent in how the project will be financed. It’s assumed Legacy Developments will be financing at least a portion of the construction costs. Ignoring a state law barring the improper investing in a project, Pfeifle said, could jeopardize it and void it entirely, preventing the financier from getting its money back.
Yeah, we don’t need to see the investor list, we can just ASSUME they are doing the right thing.
Then I also see Legacy has their fingers in the newly announced Win Chill warehouse at Flopdation Park;
Win Chill, a refrigerated food storage and distribution center facility, will be built on a 54-acre parcel at Foundation Park. Legacy Development CEO Norman Drake said the facility will provide cold-storage for food companies in order to ship products to and from Sioux Falls and surrounding areas.
Besides the fact that we are allowing a development company that may be sued over the Copper Lounge collapse to build our DT parking ramp, and now benefit from over $30 million in infrastructure from taxpayers, Mayor Huether went on to say at the press conference reveal that this warehouse will produce good paying jobs.
Nothing wrong with warehouse work, it’s an honest living, but I would be shocked to see if they pay forklift operators $18-20 per hour. Even if it did, I’m not sure spending $30 million in infrastructure is worth the 35 or so jobs this place will produce.
Once again, our state and city leadership, in partnership with some questionable developers (who don’t use union labor for their projects) suckered the taxpayers out of millions for some corporate pigs benefit.