The developers of the President's Plaza in downtown Rapid City are terminating the discussion surrounding a council proposal, that if approved, would have infused $5 million city dollars into the project to increase the number of overall parking spaces.
Mayor Sam Kooiker contends that success of the city's parking structure depends on the success of the President's Plaza. He feels the city should be privy to certain financial and project viability information.
Council President, Jerry Wright says the entire situation is unfortunate. He says the $5 million in city funds would have expedited the project and made more parking spaces available downtown. He is frustrated with the Mayor and the continuing questions that he says are unnecessary and detrimental to the project.
"Members of the council and I think the business committee would of liked to have seen this occur," Wright said. "It would have helped us all, and it's a sad day that we've taken a step back backwards."
The developers still plan to move forward with the project, in its original form, and honor the previously signed contracts.