City Council votes to terminate agreements with Cypress Development

“It’s unfortunate we couldn’t make this partnership work, but we need to be sure we act in the best interests of our citizens,” said City Manager Tom Barry. “We cannot waive the payment schedule the developer agreed to and make the taxpayers pick up the bill.

Read & Share  

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 easier. In this month’s report, Mr. Tom Barry (the City Manager), touched on

Read & Share  

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 a few questions. Here’s the latest information. Question: Will we see construction on the

Read & Share  

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 the original contract and drawings didn’t include the work. City Council was the

Read & Share  

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 as another contract between the Portland-based architect and the City of Minot was

Read & Share  

Appreciate having a local source of Minot News & Commentary? Sign up for Daily Updates!

"*" indicates required fields

Find & Follow us Right Now!

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.

Read & Share   sourced from: KX News

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 downtown business association, John MacMartin, President of the Minot Chamber of Commerce, and

Read & Share  

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 were not included. Rather, a duplication of Ms. Hoffart’s thoughts were added in

Read & Share  

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 in an Oregon-based Ponzi scheme. An S.E.C. Administrative Proceeding from December 6, 2012, 

Read & Share  

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 the full application here. And, Mayor Barney has released his quarterly letter. In it

Read & Share  

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 of Minot; the Downtown Parking Ramps. As you all know, this project has

Read & Share  

Appreciate having a local source of Minot News & Commentary? Sign up for Daily Updates!

"*" indicates required fields

Find & Follow us Right Now!

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.

Read & Share   sourced from: KX News