-- Official News Release, City of Minot -- The Minot City Council voted unanimously Thursday after meeting in executive session to take steps to terminate the City’s agreements with Cypress Development, LLC, and to initiate a lawsuit against Cypress. In 2015, the[...]
Tag: Cypress Development
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Watch the City Manager’s Report & Parking Garage Update
If you're looking for quality information, the City Manager's monthly report to City Council has quickly become an outstanding source. And with the City now live-streaming the meetings via their Youtube Channel, catching up with the information first hand has never been[...]
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Downtown Parking Garage Update: Questions and Answers with Derek Hackett
Though we can now park in Minot's downtown parking garages, the projects are far from complete. Seeing as they haven't been in the news for a few months, I reached out to Derek Hackett, the City of Minot's Public Information Officer, with[...]
Commentary |
Commentary: It’s time for a full accounting on Minot’s parking garages
Work is finally getting underway on the exteriors of Minot’s downtown parking garages. The City-hired contractor wasted no time getting to it, and it’s a welcome sign of progress. If you hadn’t heard, it's going to cost the City approximately $573,000 because[...]
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Parking Uncertainty Remains: Cypress Development Parts Ways With Imagine Minot Architect
The downtown parking saga continues. Gary Reddick, the architect of Minot's beleaguered parking structures and the more broad Imagine Minot downtown concept, has been released by Cypress Development, the primary developer of the projects. Mr. Reddick's contract with Cypress was terminated just[...]
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News |
Wells Fargo Passes on Cypress Development Bailout Package, Parking Garages Back in Limbo
A portion of the City's recently approved bailout money for the downtown parking garage developer is in question after Wells Fargo chose not to loan money on a complimentary portion of the finance package. KX News has the story.
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MAGIC Fund Screening Committee Advances Cypress’s $2.5 Million Request
At this morning's MAGIC Fund Screening Committee meeting, committee members unanimously supported appropriating another $2.5 million in MAGIC Fund spending to help get Minot's embattled downtown parking garages completed. Speaking in support of the spending request were Pam Karpenko, President of the[...]
Commentary |
Area Voices: MADC Board Members Comment on Parking Garage Recommendation
Members of Minot Area Development Corporation's Board of Directors and President Stephanie Hoffart share their thoughts on recommending more MAGIC Fund money to complete Minot's downtown parking garages. Update & Correction: 9:15 a.m. At the time of original publishing, Mr. Olson's comments[...]
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Minot Parking Garage Developer Tangled in Oregon Ponzi Scheme
Dominic O'Dierno, Asset Manager for Cypress Development, LLC and signatory to the MAGIC Fund application for an additional $2.5 million in funding for the City of Minot's embattled downtown parking garages, is presently under sanctions by the U.S. Securities and Exchange Commission for his involvement[...]
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Cypress Development Requests $2.5 Million from MAGIC Fund for Completion of Parking Garage
Cypress Development, the lead developer behind the embattled downtown parking garages has requested an additional $2.5 million dollars from the MAGIC Fund to complete the project. Here are the details from the agenda for next week's MAGIC Fund screening committee meeting. View[...]
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Commentary |
Mayor Barney Comments on Parking Garages in Quarterly Letter
The following was written by Mayor Chuck Barney. When I started writing these quarterly updates, I had the goal of covering as many topics as I could, but in this letter, I want to focus on one specific issue in the City[...]
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Committee Hears Parking Pits Plan
The City of Minot's Finance Committee heard a report on the downtown parking lot fiasco. A full estimate of the money required to get the projects moving is expected for Monday's full City Council meeting.
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City Council Changes Leases on Parking Garage Projects
-- City of Minot Official News Release -- The Minot City Council today amended leases on the parking garages currently under construction in downtown Minot. In order to get construction of the downtown parking structures back on track, the Minot City Council amended[...]