UPDATE: Well, I heard a few things from a reliable source tonight that I (we all) have suspected. Basically, BNSF is asking for an atrocious price for the land, I won’t say the amount, but let’s just say it is laughable.
You have to remember, this has been a switching yard for over 120 years, the amount of pollution on that plot of land is probably enormous, on top of the fact it will cost a lot to clean it up. I would compare it to buying a home with a bad roof and broken foundation, you would ask the seller to come down in price, way down.
The kicker though, and I am speculating here, is the first appraisal came in way, way, way lower then the asking price, and I hear the second one wasn’t much better.
Without saying too much I will put it in perspective. Let’s just say the appraisal isn’t matching up with the asking price, by a long shot.
This is probably why the negotiations are taking this long. It would be like you getting a $250 credit limit credit card with $190 dollars in fees on it when you receive it in the mail . . .
I have a feeling the FEDS are probably going to refuse to purchase the land for what BNSF is asking, or already have.
I know, I know, I have asked this question a couple (100) times over the past, I don’t know, 8 years? But the mayor mentioned at his Shut Up & Listen session last Saturday that it is still proceeding, and it has been one of the most challenging projects he has ever worked on (yeah, hoodwinking the Feds isn’t as easy as hoodwinking passive South Dakotans).
Now we have a local developer, and River Greenway welfare queen, Jeff ‘Government Handout’ Cherapa saying this;
Jeff Scherschlight, CEO of Howalt McDowell in Cherapa Place and managing partner of Cherapa, detailed the parameters of the potential changes.
“Basically, they’re going to leave the tracks that are furthest east will still exist,” Scherschlight said. “There’ll be two tracks, and everything from there coming west will be removed. And that is the railroad switchyard, which they’re going to relocate in smaller towns around Sioux Falls, and do their switching there, which is the big advantage that we gain this extra land downtown for downtown development.”
Scherschlight could see his building, Cherapa Place, expand to include a second building, should the current railway switch yard site become transformed into parking. Only two railroad tracks would remain, while the switchyard would be relocated away from downtown.
What I find interesting about this ‘edited’ story is that the original text that was posted last night on StormLand’s website has disappeared (I should have copied it) there was a mention in the original post that said “. . . an announcement could be made as soon as Tuesday” about the progress of the project.
UPDATE: It is in the video though if you listen closely. Wonder why the city didn’t want to do an on camera interview? And what does Jeff Cherapa know? If anything?