Important River City Flats Information

You may be aware that Thrive has been the target of criticisms from Julie Auch on social media and followed up City Commissioner Bill Conkling with additional accusations. Their statements were so filled with inaccuracies that the Thrive board felt it warranted a response. We have published letters to the editor in the Press & Dakotan (today) and in the Observer (last week). We also placed an ad in Saturday's P&D noting past Thrive engagement in successful projects in Yankton. We want you to know the truth about our business dealings, particularly with the River City Flats project. Below is what appeared in the P&D today. If you have any questions, please feel free to reach out to Nancy, Rob or Doug.

Rob Stephenson, River City Flats Board President

Doug Ekeren, Yankton Thrive Board Chairman

We are providing the following to share information and to respond to recent concerns, criticisms and unthruths shared over the past several weeks on social media regarding Yankton Thrive (YT) and the River City Flats (RCF) housing project on Whiting Drive east of Sertoma Park.

Why was the extension of Gehl Drive an important component of future development in Yankton? For decades, much of the land east and north of Sertoma Park lacked access to city sewer service, limiting development opportunities. Through a combination of federal grants, a Yankton Thrive-initiated TIF (Tax Increment Financing), Manitou’s expansion and land donation, and City planning efforts, the necessary infrastructure was installed. The new road, sewer, and utility extensions now open hundreds of acres for future residential, commercial, and industrial development, expanding the tax base and helping spread the cost of public services across more taxpayers.

YT continues to work towards ensuring adequate housing availability in Yankton. Employers have communicated to YT that they have difficulty recruiting workforce due to lack of available housing in the Yankton area. YT has been involved with multiple housing projects in the past few years, and a project in east Yankton was consistent with YT goals. 

A public Request for Proposal (RFP) was advertised and local contractors were contacted by YT in hopes of finding a partner interested in constructing an apartment complex. Only three companies responded to the RFP, none of which were from Yankton.

After the initial developer was unable to secure investors to move the project forward, a group of local volunteers, several who were also on the Yankton Thrive board, worked closely with the developer, to create the RCF board to attempt to find investors.

This unpaid volunteer board took on the job of promoting the project to try to raise the capital needed. Twelve public informational meetings were held December, 2025 through February, 2026, to seek potential investors. Meetings were advertised in the P&D, local radio, YT’s weekly newsletter, and social media. That effort led to finding 65 South Dakota investors to provide the capital needed for Phase 1. They became the investors in RCF Phase 1, which is for the first three buildings totaling 81 units.

As directed by its volunteer unpaid board, YT provided the final $135,000 of the investment needed and became the 65th investor in the project. Again, this money comes from YT’s private YES campaign funds.

For the Gehl Drive infrastructure development, YT obtained a $1.26 million housing infrastructure grant from SD’s 2025 $200 million special housing infrastructure program, which went towards the $6 million cost. YT also agreed to grant the six-acre land gift from Manitou and cash from its YES4 private investor campaign to RCF. In return for the grants provided by YT, RCF accepted the additional expense burden of building at this location due to its flood plain designation, as well as agreeing to limit the first several years of rents of the new one-bedroom apartments. YT had previously provided similar incentives to the Westbrook Estates Apartments developer in 2015 to spur that project and create lower rents for tenants there.

For those not familiar with constructing in flood plains, bringing in additional dirt to raise the property is a more expensive but frequently used practice for such projects, as an alternative to being required to purchase flood insurance. Yankton’s Stockwell Engineering, is providing the engineering to assist RCF with that. 

Manitou received $0 from these funds or from the TIF, but did benefit from being able to expand its plant, and also now having opportunity for potential future expansion. Manitou’s expansion and other future development now possible on Gehl Drive and to the north helps all Yankton taxpayers by growing the tax base.

Multiple entities utilizing the State of South Dakota’s one-time housing infrastructure grants have resulted in multiple projects and over 300 new units in Yankton. This is evidence that the correct type of incentives do work.

Yankton’s Menard’s TIF is another great example of how incentives can be successful. Drive around Menards and you now see the other development that often follows an incentivized one. 

A final point: Yankton City Commissioner Bill Conkling has social media postings regarding concerns and questions on social media about YT and RCF building these apartments for “immigrants”. While YT and RCF welcome and encourage legal residents and employees of all types in Yankton, neither YT nor RCF has pursued or provided any incentives or made any special considerations to promote any particular residents for this housing complex.