A railroad company and Sioux Falls have struck a multi-million dollar deal for land in the central part of the city. BSNF Railway Company agrees to sell much of the rail yard in downtown Sioux Falls for more than $27 million.
Federal officials originally allocated $40 million. The full amount has lessened over the years, and city leaders have spent some of it on environmental studies and land assessment. Project officials say after the $27 million sale about $7 million remains for additional work on the property. If the city council and the mayor approve the agreement, new development could begin in 2018 once private investors purchase the land.
Sioux Falls public works director Mark Cotter joined Dakota Midday and discussed the purchase agreement and future development of the 10 acres of land.