“This agreement finalizes the strategic partnership that will drive the development of the USD Discovery District forward,†said Rich Naser, president of the district. “We selected Tetrad Property Group for their industry expertise and capacity to invest equity into projects — among other factors. Our partnership will accelerate the timeline of projects and position the park to attract new tenants — and the right type of tenants.â€
The 10-year agreement includes the Discovery District overseeing infrastructure for the property, including streets, sidewalks, utilities and signage in addition to grounds and common areas. The two organizations will team up to market and manage the district up to the 10-year mark or the completion of the initial 400,000 square feet.
So the state and city coffers are investing in project that will attract workers from out of state and being developed by an out of state developer. Funny how they never mentioned this when asking for money from the Sioux Falls city council. Maybe we should change the name to the Nebraska Discovery Center funded by the generous taxpayers of South Dakota.