President's Plaza delays - KOTA Territory News

President's Plaza delays

The President's Plaza project won't break ground until next year, that's if all goes as planned.

At today's Public Works meeting, project developer Hani Shafai presented an updated schedule for the President's Plaza.

The final design is expected to be completed by December and they plan to break ground in March of next year.

While bank financing is secure, Shafai says they're also waiting on approval of New Market Tax Credits to help finance the project.

"New market tax credits are intended for communities like ours that really need to create economic engines in parts of the community that qualify for those type of deals," said Shafai.

If these new market tax credits aren't approved, the project will be set back another few months.

But Shafai says he's confident they'll receive the credit because they've previously received the credit but with project delays those credits expired.