South DaCola

Was the Downtown Parking Ramp just a ‘SHAM’ from the beginning?

I never did have a good feeling about the project and told several city councilors that the hotel will never be completed, then I hear this;

“The NMTC is a highly competitive economic development program, which incents private investments in the poorest rural and urban communities in America,” Rapoza said in a statement. “To receive NMTC allocation from the Department of Treasury and participate in the program, community development organizations demonstrate a record of financing dynamic projects that improve services such as health care, or create jobs and opportunity in communities where capital is difficult to obtain from conventional lenders.”

Low paying hospitality jobs is hardly a good reason to give such a project tax incentives. This deal was doomed from the beginning and any city official/employee who supported this, worked on this or voted for this should be ashamed and should resign.

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