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President's Plaza Developer Complaint Acknowledged

January 7, 2014, 7:41 AM

President's Plaza Developer Complaint Acknowledged
RAPID CITY, SD -

The Rapid City Council has voted to acknowledge a developer's concerns about Mayor Sam Kooiker talking to potential funding sources for a proposed $50 million downtown development.

However, the vote doesn't require Kooiker to stop asking questions.

Alderman Chad Lewis says Kooiker has the right to ask questions but that financial negotiations for the President's Plaza project are "fragile."

The project is to include a mix of retail shops, a hotel, a convention center, condominiums and a 500-stall parking garage. Kooiker has raised questions about the developer's efforts to secure up to $25 million in tax credits to help finance it.

Developers worry the mayor's questions might hurt their funding efforts. Kooiker says he supports the plan but thinks transparency also is important.

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