Tag: Rapid city
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What’s on the Tuesday September 1st Rapid City Public Works Agenda: GCC Dacotah and Sidewalk Variances Return
Rapid City SD – The Public Works Committee meets at 12:30 p.m. Tuesday, Sept. 1, in Council Chambers at City Hall, 300 6th Street. Nineteen items sit on the consent calendar alongside the 2027-2030 Transportation Improvement Program. Here’s what’s in the packet, in the order the committee will hit it. Consent Calendar (Items 1-19) Change…
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Adam Hendry’s Personal Bankruptcy Administrator Claims Tzadik Rushmore Hotel Filing Was used to Dodge Him
Rapid City SD – The man Adam Hendry’s own confirmed bankruptcy plan put in charge of selling his real estate empire is now telling a federal judge that Hendry used a separate bankruptcy filing to cut him out of the process — and one of the properties at issue is a Rapid City hotel in…
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How Nectar, Inc. was Embedded in the Tzadik Collapse before a Rapid City Bankruptcy was even Filed
Rapid City SD – A complex web of corporate maneuvering is quietly determining the fate of Rapid City’s distressed apartment properties. As Tzadik Rapid City Portfolio I, LLC approaches a critical Aug. 31 bankruptcy hearing, a seemingly independent buyer has emerged to recapitalize the portfolio. But a paper trail — running from a press release…
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Star Village and Aspen Park Diverge as Landlord’s Refinancing Bid Heads to an August 31st Hearing
Rapid City SD – For more than a year, Star Village and Aspen Park have moved through federal bankruptcy court as a single unit. That’s about to change. A refinancing deal now pending before a Florida bankruptcy judge would send the two properties down separate paths, with one likely refinanced into stable new ownership and…
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Special Council Rundown: DOJ Grants and Heated Budget Debates
Rapid City SD- The special council meeting opened with a major infrastructure approval. As the first item of business, the council authorized the Mayor and Finance Director to sign the Construction Manager at Risk (CMAR) agreements between the City of Rapid City and Scull Construction for the new sports complex. Chief Hedrick & DOJ Model…
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The Rushmore Hotel’s Bankruptcy Gets It’s First Real Test in Court
RAPID CITY, S.D. — The Chapter 11 case of Tzadik Mount Rushmore Hotel, LLC went before a Florida bankruptcy judge Wednesday for a consolidated first-day hearing covering everything from payroll to critical vendor payments to a lender’s push to throw the case out entirely. The hotel — doing business as the Rushmore Hotel & Suites…
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Judge Approves Auction Backstop for Rapid City Apartment Complexes as Refinancing Pursued in Lieu of Sale
RAPID CITY, S.D. — A federal bankruptcy judge cleared the way Wednesday for two Rapid City apartment complexes, Star Village and Aspen Park, to be sold at auction, setting up a final sale hearing for November 3 even as a separate, competing deal to refinance the properties remains in play. Judge Mindy A. Mora of…
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Four Items, One Wednesday: What’s Really in Rapid City’s Special Council Agenda
A $55 million construction contract, a $75 million federal ask, and two different price tags for the same city budget. Rapid City SD – Rapid City’s Common Council meets in special session Wednesday, August 26, at 6:30 p.m. It’s not a regular Monday meeting, and the agenda is short — but the four items on…
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Star Village Faces October Auction – If a Last Minute Deal Doesn’t Beat the Clock First
Rapid City SD – A joint motion now pending before a federal bankruptcy judge asks the court to send Star Village and Aspen Park to online auction in late October — but whether that auction ever happens may be decided a month earlier, and in a very different way. Merchants Bank of Indiana (MBI) and…
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What’s on Thursday Mornings Agenda for Rapid City’s Zoning Board of Adjustment and Planning Commission
Rapid City SD – Rapid City’s Zoning Board of Adjustment and Planning Commission meet back-to-back Thursday morning, starting at 7:00 a.m. in the City Council Meeting Room. Eight items are up between the two bodies. Most of it is routine — a garage, a couple of subdivisions, a variance or two. Two items carry more…