UPDATE IV: A Generational Change? LOL!
l3wis UPDATE IV: I still find it a bit ironic that Denny is giving $50 million to communists while the company he founded pays communist level wages. I know, pretty funny. Oh, and the stories that have been swirling around the donation and how it came to be; Pretty juicy stuff, but just funny gossip at this point. While it didn’t involve a 5-Foot branch, it was still just as kooky.
And let’s talk about that donation;
The Sioux Falls Development Foundation will use $50 million from T. Denny Sanford to buy the existing site, clean it up and eventually, redevelop it.
$50 million won’t be enough to replant grass on the site. To clean up that site and prepare for development will be $200 Million+. Are you telling us that this will be paid for by private investment? Hardly. When Public Works director Cotter was asked about the cleanup he just mumbles something about multiple approaches. In other words, coming to taxpayers locally, statewide and nationally. Heck, they had to admit in the meeting the TIF was being paid for by sales taxes across the state.
DOUBLE DIPPING ON THE TIF
As I have pointed out recently they plan to ask for a different TIF on the languishing apartment development by 8th and RR in the next couple of months, so I was surprised by this large one. First off, the obvious. The Development Foundation which gets millions from taxpayers each year already received a $94 million dollar TIF for the park a couple of years ago. That TIF was supposed to trickle down to the businesses that build out there. So why isn’t Smithfield just using part of that TIF? Oh, that’s right, they want MORE to build their wastewater treatment plant. Smithfield’s company wide profits last year were $1.5 billion. They ain’t hurting and they can afford this. I also struggle with giving foreign communists tax breaks while we are propping up our schools with sales tax on food instead of property taxes from international communist companies that can afford to pay those taxes. The taxpayers will eventually get screwed on this. When I talked about a petition drive on a TIF, this would be an excellent one. But the city of course has their excuses;
“We’ve used TIFs to stimulate private investment in areas that would remain undeveloped or underdeveloped and which will have long-term impact on the community,” Power said.
Is a new packing plant underdeveloped? Hogwash. I bet if this went to a vote and failed they would still move ahead with the plant. Think about it, we are cleaning up their mess for FREE downtown, they are getting a TIF for the land already and all the commodities (hogs) they buy are in the region. They asked for the TIF, because they can. It wasn’t needed and they know it.
SPEAKING OF THE DEVELOPMENT FOUNDATION
So over the past few weeks the city has been getting some favorable bids, which means the engineering consultant the city was using was over estimating;
• Minnesota Avenue was estimated for $19 million, bid came in at $12.24
• Marion Road/Foundation Park estimated for $26.5 million, bid came in at $17.2 million
While we should be happy bids came in under, this causes lots of issues because of budgeting. So why was the consultant so OFF in the estimates?
Because the consultant has an employee who sits on the Development Foundation’s Board. Funny how those things work.
UPDATE III: As one person texted me after the presser, ‘I have more questions then answers.’ Yah think?
We heard very little about cleanup and redevelopment, and here are lingering concerns;
• Why was Mark Cotter secretly meeting with Smithfields over wastewater for a year? And what was promised? And how much of this expansion has to do with Smithfields? And if it is, what are they paying for the expansion? Does the council even know? Secret deals are never good deals, heck, the last COS was involved (oh and Poops announced that Vanessa is his current COS. I don’t remember that going thru a review process.)
• They are already getting a TIF thru the Development Foundation for the new plant. What other tax rebates and incentives were included?
• This will be an automated plant as assumed, so how many jobs will be lost in transition? Maybe none since they plan to almost double capacity.
• Denny is paying $50 million for the property and gifting to The Development Foundation which will parcel it off and make lots of $$$ from it. Will these profits be offered to help clean up the property?
• Who is paying for the cleanup? Like I said, an estimate 10 years ago was $100 million to properly demolish and remediate waste from the site. So why would Denny pay $50 million for a property that will cost another $100 million to clean up? Because we will be paying for it and the Development Foundation and their cabal of grifters will cash in. Someone told me they will likely call it the ‘Sanford District’. Oh Puke.
We have a few years before we have to face this, but I will damned if we are going to pay to clean up the communist’s mess! Not gonna happen. They have made BILLIONS from this community, they should do the right thing and pay for cleanup and sell the land privately.
UPDATE II: Lalley busted the cherry, they are tearing down Smithfields.
I guess we will find out more at the presser, but I have quite a few questions, like a timeline and what kind of handouts? If a new plant will be built in Foundation Park, they are already getting a TIF, so who will pay for the cleanup of the old plant? The Feds? The State? The City? These communists have made billions from us, they should pay to clean up the land, and sell it to developers. I guess we will find out how much this ‘generational change’ is going to cost us.
UPDATE: I figured perusing some DTSF bars tonight I would be able to dig up this announcement. I did. But I promised my source I would not reveal, but if you contact me personally, I will tell you. It is actually something most SF residents have wanted to have happen for a very long time. Also, the irony is I thot about this morning on a ride, ‘Maybe it is this?’ and I laughed and said to myself ‘Pipe dream’. Like I said, very positive for the community, but my concern is what will it cost taxpayers? It is so huge, we will have to partake, but how much? Also I heard the deal was inked by Rhoden and forced onto Poops, which should not shock anyone. The only drawback besides us bailing out this adventure is the transition will actually cut hundreds of jobs, but in a good way?
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We don’t have the tax revenue in Sioux Falls to make a generational change, and neither does Pierre.
So all week I was looking forward to just going out to a party on Friday night to hang out with friends and NOT talk about Sally or any politics. As I am walking out the door I get a text about Rhoden and Ten Haken’s ‘Generational Change’ coming to Sioux Falls and the announcement Monday morning. My guess is this was cooked up over the last couple of weeks because I know so many leaks in the Sioux Falls city government sinking ship that I would have been told what it was already.
So after the first text my phone started to blow up. ‘What is this?’ or ‘I think it is this.’ I gotta tell yah, I don’t have a freaking clue, but as I had discussions with folks we created theories and here are the TOP three;
• Convention Center
• Data Center
• Dumpling Factory
Heck, they might come out on all 3! Who knows. My top guess, and I am hoping one of my leakers fills me in before Monday, is the state will help fund a convention center thru low interest state loans. But how is this a generational change? It is not. A DATA center farm may be closer to a generational change, but that is also odd. And who can forget the millions the state and city gave away to bring in a dumpling factory that pays slave wages.
Just once I would love a politician to come to the podium and announce real change that doesn’t cost taxpayers a penny and is completely transparent. Who am I kidding?
How can you come out with such a huge announcement that has been shrouded in secrecy and expect people to get behind it? Rhoden is running for governor and if you see his latest poll numbers he may come in 4th in the primary and he is grasping at anything. Policy changes not expenditures make generational change. Throwing tax dollars into a burn barrel is not change, it is stupidity. But hey, a duck is a duck, and these ducks are walking us off a cliff.
What do you think it is? And if you have evidence showing exactly what this is, please send it to me, would love to make the announcement before them.
