City asking taxpayers to pay $40,570 per parking spot in proposed ramp

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While it is fine to get excited about a new $50 million dollar, 120 room, 13 story hotel downtown, that excitement quickly deflates when you consider the private developer is asking taxpayers to pony up $21.3 million toward that figure for 525 public parking spots.

While there is nothing wrong with a public/private partnership, we are definitely getting hosed.

Stalls in a typical parking ramp range in value from $20-25,000. Paying $40,570 per stall is freaking ridiculous if not ALMOST criminal. The airport recently proposed a parking ramp in front of their terminal that came in at that $25,000 stall range.

I’m curious if we are paying for a parking ramp or a hotel? This wreaks of corruption from the developer who toppled the Copper Lounge.

https://www.youtube.com/watch?v=uKw0FMSEavA

Posted in: Downtown Sioux Falls, SF City Council, Sioux Falls

8 Thoughts on “City asking taxpayers to pay $40,570 per parking spot in proposed ramp”

  1. Briggs Warren on November 14, 2017 at 8:24 pm said:

    First I was very surprised by the design of it. Kind of reminded me of the Guthrie Theater in the Twin Cities. Also my quick math must have been wrong I thought it worked out to around 52k per space. While at this point I’m cautiously optimistic about it and can see the long term benefits to downtown. I do know I would never vote to approve it until we have a list of the partner involved with Legacy’s side.

  2. l3wis on November 14, 2017 at 8:46 pm said:

    You are partially correct, the Hotel will be leasing over a 100 of the spaces so that would increase the cost of the stalls that are for public use to around $50K.

  3. Emoluments Clause on November 14, 2017 at 10:12 pm said:

    #WhereIsTheGrandJury?

  4. Emoluments Clause on November 15, 2017 at 1:09 am said:

    Oh, and where’s the blight? (Never mind that) This project would be a perfect candidate for a TIF, don’t you think so?

  5. anominous on November 15, 2017 at 9:03 am said:

    Lol, the 300 Building (N. Dakota Ave) is where the Federal Building used to be. (pause at 0:57).

  6. The D@ily Spin on November 15, 2017 at 9:29 am said:

    The design looks like a certain hotel chain. There should be construction safety concerns for a Legacy project inspected by incompetent city inspections. Somebody could get killed.

  7. LJL on November 16, 2017 at 5:54 pm said:

    This is publicly announced, unbridled corruption.

    The new vacant lot at the railroad switchyard will be a great place for a plain ol parking lot. We the taxpayer already own it. Pave, stripe and call it good.

  8. anominous on November 18, 2017 at 9:23 am said:

    This hotel isn’t a Trump property, is it?

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