Rapid City Council acknowledges developer's concerns about plaza - KOTA Territory News

Rapid City Council acknowledges developer's concerns about plaza

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The Rapid City Council has voted to acknowledge a developer's concerns about Mayor Sam Kooiker talking to potential funding sources.
 
 
An attorney for Dream Design, the developers working on the President's Plaza project, told council members Monday night that the mayors questions to potential financiers might hurt funding efforts. The mayor was asking questions about new market tax credits for the proposed $50 million development.

Developers say financial negotiations are a fragile process that could be upset by the mayor's questions. Kooiker says he supports the project but wants to ensure the process is transparent.
 
 
"In opinion of President's Plaza that is something, that type of conduct that is not appropriate, it jeopardizes the chance for the funding and thus the letter was written," said Ed Carpenter, attorney for the President's Plaza project.
 
"They feel stung by the simple questions I have asked, I shouldn't have been a threat to anyone," said Kooiker.
 
Monday night's vote does not stop Kooiker from asking questions.

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518 St. Joseph St.
Rapid City, SD 57701

Telephone: 605.342.2000
Fax: 605.342.7305

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