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Unanswered questions remain about Village on the River project

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SIOUX FALLS, S.D. (KELO.com) -- He says it's not how he would have rolled out the project, but Mayor Paul TenHaken says he's satisfied with the new developer involved in the Village on the River public/private development in Sioux Falls.

"And while I too like a lot of people had concerns about the process on how we got to where we are today, I'm here today to tell you I'm excited about where we've landed."

TenHaken said at a news conference today that he and his administration have checked out the new developer of the controversial downtown village on the river project and his satisfied that it's on the right track.

"I have a high level of excitement about this project," TenHaken said.

However, at the news conference with developer Jeff Lamont, no new documents were provided on who else may be behind the project other than the four people involved with Village River Group LLC. Neither Lamont or the City released any additional financial information about Lamont's finances or Village River Group LLC's.

That includes three people who were involved with original Legacy Development and Consulting LLC on the project--Larry Canfield, Paul Cink, and Norm Drake. Aaron Hultgren was part of Legacy until the City replaced him with Lamont earlier this year..

TenHaken said he and the City has done its due diligence about Lamont. However, Lamont said he had not yet provided the City with any documents on his personal worth that he has pledged as a guarantor for the $50 million public/private hotel/parking ramp project in downtown Sioux Falls. 

Lamont says he's the only one in the group who can now make decisions about the project.

"Yeah, I believe it's an unlimited guarantee for the project amount, for the completion of the project," Lamont said. 

KELO.com News then asked him how that guarantee was secured.

"I believe it was a personal guarantee," Lamont said.

Then KELO.com News asked if that meant his personal assets.

"Correct," Lamont replied.

Finally, KELO.com News asked Lamont if he had provided any evidence of his wealth to the City.

"I wasn't asked to provide that," Lamont responded.

The Mayor's chief of staff, Erica Beck, did say that before the project formally begins construction, Lamont will provide that type of information to the City.

Near the beginning of his remarks, Lamont attempted to blame the Sioux Falls media for "discrepancies" in the coverage of Legacy Development, Hultgren Construction, the Copper Lounge, and his own company's involvement in the development.

"I wanted to kind of reiterate that there's been some discrepancies in how this project's being reported by the media," Lamont said. "They're kind of tying in some of the mishaps that happened with the Copper Lounge and Legacy Development and Hultgren Construction to this project. There's not specific ties to either party in this event."

Lamont then later backed away from his comment about the media's reporting.

Cink, Canfield, and Drake were involved with Legacy and Hultgren and remain involved in the current project, though with smaller percentages of participation than previously in the project. Hultgren Construction LLC filed for bankruptcy protection last month.

TenHaken tried to further soften Lamont's response about press coverage, saying this was the first time under either the Huether Administration or his that there was a news conference on the Village on the River project.

"You're going to hear us talking about this more," TenHaken said. "You're going to be sick about us talking about it."

Lamont also said that even though three of his project's co-owners were involved with Legacy Developments and Hultgren Construction, he didn't know anything about Hultgren.

At the end of the news conference, City Councilor Theresa Stehly addressed Lamont and TenHaken. She said she was glad the City was holding the news conference. She also said she still wanted some answers.

"I just want to know who the investors are and get the financial statements," she said.

Watch a portion of the news conference above or listen to the full news conference, also above.


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