While Director Matt Tobias’ (not sure what his title is since the Poops Admin likes to make up fancy titles every 3 months) presentation was the best I am not sure why it took a decade and a massive board to finally implement a plan just a couple of months from a city election. Matt made great points that I have been harping about for years like promoting the community development programs, increasing the income level of qualification and pushing for up to $30K loans at 0% interest.
Like I said, glad to see the wheels turning, but I am also wondering why it took so long. We have known for over a decade that the city was growing at an enormous rate and density in our core was crucial. Many administrations, private non-profits, councilors and developers have talked about it. In fact I attempted to bring in the Strongtown’s founder over 10 years ago to speak on it, but I couldn’t get enough people to help donate to his gas money and hotel room. When he eventually came, I had to chuckle when people said to me if I had heard of him.
I will tell you why it has taken so long to get the ball rolling; GREED and the cornfields are running out.
Just listen to what Greg Neitzert said about it, once again defending the developers and contractors and how gosh darn it, they need to make money or the plan won’t work. I agree, anyone in business for themselves needs to make a profit and they need to eat, but I have rarely met a large developer in this town that is living in central Sioux Falls in a 900 sq ft home. With their profit margins, no state income tax, low labor costs and multiple tax incentives, they do ok. There is absolutely NO reason why they can’t do projects in the core building density and NOT make money.
I also look at this as LOCAL economic development. Most of the smaller contractors that do this kind of work are local, they live here, their workers live here and likely they buy materials and tools here. That all gets recirculated into the economy.
Don’t fool yourself, these policies have been researched for a long time, but like most things in this city and even country, if someone can’t figure out how to gouge the consumer the feckless leaders don’t act. This is one of the main reasons it infuriated me that they are asking for a raise. I guess they think they need to be paid more for doing less.