Would you borrow your car to this guy?
Well, it took long enough to get this story out, but I am at least grateful it finally did;
Mayor Mike Huether’s investment in a private real estate development in southeastern Sioux Falls has raised concerns of a citizen group fighting against a similar proposal because of ties between organizers of both deals.
Huether confirmed this week he is one of 38 limited-partner investors in an existing apartment complex called The Villas at Canyon Creek on East 54th Street.
But it’s a separate apartment complex planned at 85th Street and Western Avenue — in which Huether does not have a financial interest — that brought the mayor’s investments into the public eye.
As South DaCola reported back in May of 2012, the mayor has been participating in questionable development projects for quite awhile (2011);
As you may or may not know, Mike is an investor in many projects around the city (or should we say, his wife is – LOL). The speculation is that she is an investor in many of these kinds projects around town. No biggee, except, maybe the mayor should have excused himself from this vote (or supervising the vote), which he did not.
The running joke around city hall was after the meeting he was asking people if what he did was proper. It is kinda like asking if peeing your pants is okay.
UPDATE: HE DID HOWEVER COME TO HIS SENSES BEFORE THE CITY SIGNED OFF ON THE TIFÂ (This document shows Cotter signing off on the project FOR the mayor):Â TIF 11
Do you think it is proper for the mayor to be investing in development projects around town? Better yet, do you think it is proper for these developments to be asking for TIF’s?
It is also no secret, as I have been told by former city employees, that Huether has asked developers in developer/planning meetings at city hall about ‘getting in on investing’ in their proposed projects. Not outside in the back alley of city hall, IN CITY HALL, in front of city planning employees.
No surprise that Huether feels no guilt or shame;
Huether likened his role in Canyon Creek to buying shares in any other investment. And he said that elected officials, including city councilors, governors, county commissioners and mayors, should be able to invest their money.
“Come on, you’re telling me that Mayor (Dave) Munson, Mayor (Gary) Hanson, Mayor (Rick) Knobe — mayors before me — never invested in things?†he said.
If they did make investments, it wasn’t in real estate, say the three former mayors cited by Huether.
Sorry Mike, there is a difference between investing in stocks and other money market investments and development in the city you manage. Who does the city planning department report to? YOU! This is why it is a bad idea, any way you look at it. But none of this comes as a surprise for a man who sold subprime credit cards as a living.
I warned you Sioux Falls about Huether, never trust a salesman. I liken electing Huether as mayor to hiring a gambling addict to manage your investments or borrowing your car to a demolition derby driver. Hopefully Sioux Falls will wise up before the mayoral election this Spring.