Village on the River developers claim City of SF breached its contract

Local News

The investors and the developers of that Village on the River project in downtown Sioux Falls are claiming the city breached its contract with the two groups and may now sue the city.

Attorneys for VRG and Legacy Development and Consulting LLC wrote a letter to the mayor and city finance director notifying them that they are claiming the city was reckless and negligent when it broke the contract under the completion guarantee.

It was almost two years ago when the city contracted with VRG for a multi-million dollar mixed-use development; including a public parking ramp and private hotel with retail space.

But in April of this year, the city notified VRG it was in default because it missed payments, but was going to go forward anyway with a stand alone parking ramp.

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