When I first started reading this story on SooFooBizzo I had to double check to see if I was on the Sioux Falls Headliner site, because some of the things said are laughable;
The new plan at 152 rooms represents an estimated $45 million in private development, “so we’re well above and beyond what the city approved for this project,†Lamont said.
Huh? Remember the last project that wanted to make changes to the pre-approved plan next to 8th and Railroad. It’s dead.
“AC has its own lounge, which is a bar with tapas-style appetizers,†Lamont said.
Someone should tell Jeff the word tapas means appetizers, I’m just saying.
“We’ve got clothing stores interested in the retail, coffee shops, office space, things like that,
You mean like every other strip mall in Sioux Falls, surprised he didn’t say pizzeria.
The project scaled back after two potential incentives didn’t materialize, including new market tax credits from the federal government. While the credits looked promising last year, the location of the project changed from what the government considered “severely distressed†to “distressed,†Lamont said.
Yeah, I’m sure it has NOTHING to do with one of your partners being investigated by the Feds. I doubt the two departments even talk to each other . . .
The developers also requested tax increment financing from the city, but city officials decided not to recommend it.
“They don’t think they can support it or that it would gain traction,†he said, acknowledging the parking ramp that supports the project was publicly funded.
“That definitely is nice,†he said.
That’s so sweet of him to compliment the taxpayers for getting bent over the barrel on this.
The city offered a property tax incentive that the project automatically qualifies to receive as well as a business improvement district tax rebate. The latter will need City Council approval.
Thanks for the ‘NICE’ $26 million dollar parking ramp, oh, and BTW can we get a tax rebate on a for-profit hotel on prime real estate? The city council would be absolutely insane to approve a rebate, but the track record lately of the rubber stamp 5 is less then stellar.
The city is reviewing proposed changes to the project scope to determine the financial impact to the city, said Erica Beck, the mayor’s chief of staff.
“Our top priorities are complying with the existing agreement and avoiding financial burdens to the taxpayers as a result of any proposed changes,†she said in a statement.
In other words, don’t f’ck us over.
The group has the financial capacity to make the project happen, he added.
What? Did he send another one page letter that said ‘Were good for it’ and ‘the check is in the mail’.
“The media reports keep alluding the project is in jeopardy,†he said. “That’s absolutely incorrect.â€
Maybe if you actually talked to the media instead of a content marketing business website the media would be reporting the truth, even though I think they already are.
The city council approved the $50K to a law firm last night without discussion that specializes in ‘ironing out’ deals like this. I have a feeling this is going to get ugly before it gets ‘nice’.
l3wis 
