Taxpayers duped once again by the pie in the sky dreams of developers and big business

I was very reluctant to post about this story, simply because it was no shock to me that this happened. I was waiting for the day to come when we would read this;

The company that would have been the first to build in the new Foundation Park development park has decided to look at other locations.

Stuless Whunder makes a great point;

Others question the role of taxpayer-supported public entities in the area of private development, especially if urgency to find companies to fill parcels at Foundation Park drives down the market.

In that same vein, I question why taxpayers (State and Local) are putting up over $20 million in infrastructure for a project that didn’t even bother to secure a solid purchase agreement? We should have never authorized the expenditures unless we had a ‘real’ promise from a prospect, we went ahead with the possibly of spending $20 million of tax dollars based on a ‘letter’.

Wow!

Another reason we can’t run government like a business. Unlike private enterprise, government shouldn’t be in the business of taking risks and land speculation.

As for saying I wasn’t shocked that this happen, it is because we have had precedent. For one, just peruse available industrial park land the development foundation and other realtors have available already. It’s like deciding to build a 3 car garage for your Fiat 300 and bag of golf clubs. There isn’t a need for more land, it’s a classic case of urban sprawl. Remember Phillips to the Falls? How did that work out for taxpayers? We spent millions so we can have a new location for German Fest. Also don’t forget the fiasco called EB-5. There is also the employment factor (I’m guessing that is why Logistics Buddy backed out). Capital One is leaving solely based on the fact we don’t have enough workers. There is also the promise of living wage jobs that has never been hammered out before we moved ahead with this project. But hey the city is throwing thousands of dollars at businesses for the “Welfare for Want Ads” project.

I know I often sound negative and am really a cynic at heart, but it pains me to be right about something so wrong. I hope things will work out in the end. But hey folks, it’s Meth Week in Sioux Falls, so don’t worry about failed developments and petition drives. We gotta nip this dang problem in the butt. You go Tiger Mike!



3 comments ↓

#1 anonymous on 09.29.16 at 6:11 am

Our representatives on the City Council need to require Slater Barr to appear before them to PUBLICLY explain this to the taxpayers.

#2 l3wis on 09.29.16 at 8:01 am

Yeah, because as the CEO of Paramedics Plus said in his recent interview with the AL, “It’s to complicated to explain on the phone.”

#3 The D@ily Spin on 09.29.16 at 11:15 am

I can’t believe there was site excavation based on a letter. They’re bowing out graciously. Some of it is having to deal with Huether government. I’d be suspicious of entrapment and city interference too. Their business is distribution and transport. A much better location is Worthington MN. There’s a limited access freeway 70% complete between Minneapolis around Sioux City to Omaha & KC. Sioux Falls is 70 miles out of the way. We don’t have employees. Cost of living is high. City debt is extreme. Future infrastructure will suffer.

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