Entries Tagged 'Foundation Park' ↓

Sioux Falls Bankers prepared to prop up FLOPdation Park

It’s nice to see someone cares after South Dakota taxpayers dumped over $25 million into an industrial park with ZERO tenants and ZERO prospects;

Eight Sioux Falls banks have come together to create a $16 million financing package to help get land ready for new businesses at Foundation Park in northwest Sioux Falls.

“This financing package allows us to react to infrastructure needs required by our prospects,” said Slater Barr, president of the Sioux Falls Development Foundation. “With the unique size and scope of Foundation Park, it’s not feasible to make every site in the 820-acre park completely build-ready. But with the participation of the banking consortium, we can move fast to add streets, water, sewer — even rail connections — to meet the needs of any company that is ready to build on a Foundation Park site.”

Well, well, well, it’s about time the private sector of the community decided to invest (our private) money into this project.

While I applaud the effort, like the public investment of infrastructure, all of these ducks SHOULD have been in a row before we annexed the land, and better yet, we should have had at least 2-3 purchase agreements also signed before the annexation, not a plan on a torn bar napkin. FLOPdation Park looks more and more like Amateur Hour over at the Development Foundation, and the rest of us are paying for it.