View Comments The developers of Cherapa Place made their pitch for a $25 million TIF that would help add three buildings to the complex in a massive, $160 million project that would expand downtown Sioux Falls. Jeff Scherschligt, with Pendar Properties, spoke about the project during a City Council informational meeting Tuesday, announcing their partnership with The Bancorp, a Delaware-based financial technology company that employs 175 people in southern Sioux Falls. The Bancorp would be an anchor tenant for what Scherschligt called "Building Two," a nine-story building with 130,000 square feet of office space and 12 luxury condos. Building Three and Four would have 150 apartments and nearly 700 ramp parking spaces between the two buildings, as well as retail, restaurant and entertainment space.