Will amended contract kick start plaza construction process? - KOTA Territory News

Will amended contract kick start plaza construction process?

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Monday night, the Rapid City council voted to move an amended contract for the President's Plaza developers forward to legal and finance.

Mayor Sam Kooiker says he supports the project but it is the developers that are holding up the project.

"We're already giving land, we're already giving $2.8 million dollars in vision sales tax funds, we're already doing an enormous tax increment financing district and now they are asking for an additional $5 million  and when I say that, then I am accused of being against the project," said Kooiker.

The amended contract calls for a $5 million investment from the city for parking.

This contract has a completion date of September 2016, which Jerry Wright, Rapid City Council President, says is a big step.  

"These were some developments that are new and need to be included and I think we're at a point where we can start on schedule. With the commitment the developer has with those terms they can begin I believe this year," said Wright. 

The amended contract sets a start date for construction for September of this year.

WITH A NEW CONTRACT UNDER REVIEW BY THE RAPID CITY, IS THERE NEW LIFE IN THE PRESIDENT'S PLAZA PROJECT?

LAST NIGHT, THE RAPID CITY COUNCIL VOTED TO MOVE AN AMENDED CONTRACT FOR THE PRESIDENT'S PLAZA DEVELOPERS FORWARD TO LEGAL AND FINANCE.

THE AMENDED CONTRACT CALLS FOR A 5 MILLION DOLLAR INVESTMENT FROM THE CITY FOR PARKING.

THIS CONTRACT HAS A COMPLETION DATE OF SEPTEMBER 2016, WHICH council president Jerry Wright says is a big step.

BUT MAYOR SAM KOOIKER SAYS THE DEVELOPERS ARE HOLDING UP THE PROJECT.

"We're already giving land, we're already giving 2.8 million dollars in vision sales tax funds, we're already doing an enormous tax increment financing district and now they are asking for an additional 5 million dollars and when I say that than I am accused of being against the project."

"These were some developments that are new and need to be included and I think we're at a point where we can start like on schedule, the commitment the developer is with those terms they can begin I believe this year.

THE AMENDED CONTRACT SETS A START DATE FOR CONSTRUCTION FOR SEPTEMBER OF THIS YEAR.

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