I appreciate Mr. Minn's challenge to my post about the huge tax subsidy for
50th and France. I also don't have a problem with TIF being used in good
neighborhoods. However, I would have some very specific conditions,
including public space, that this project wouldn't have met. However, I
think you have to step back and take a look at the big picture, especially
when it involves subsidizing very wealthy private space.
50th and France is running out of land and the only place for it to go is
onto the Minneapolis side. It is no wonder that the developer took the
neighborhood plan and our money and ran with the development. It would have
been foolish not to. Developers have come to expect money from the City of
Minneapolis to do projects.
I think where Mr. Minn and I disagree is in the philosophy of the
marketplace. I think this was a perfect example of how the marketplace
could have taken care of itself. We might have been a little impatient
with how long it was taking, but the gas station and shops that were there,
were in immensely better shape than the gas station and shops in my
neighborhood. And in the past few years those in my neighborhood have
improved significantly without using TIF. Perhaps in 50th and France's case
a little inspiration from the City would have been enough. Maybe even with
some civic leadership from the private sector that didn't expect payment in
return. We are all in this together folks, and this idea that developments
should "just expect" taxpayer investment when our resources are so
restricted and valuable would be laughable if it weren't so serious.
Growing tax base is important, but using our future tax dollars - especially
15 years out, is just not prudent investment in an area that is growing so
significantly. Our history of using this technique has caused us
significant financial consequences. In our eagerness to be big-time
developers we have lost our fiduciary sensibility. I really believe it is
time for this city to quit paying off developers and to start inspiring
them. We need every penny of our tax money for basic services. It should
be private the civic duty of private citizens and developers to do these
projects. They shouldn't have to be lead around by the TIF carrot.
Russ Peterson
Ward 9
Standish
R U S S E L L P E T E R S O N D E S I G N
"You can only fly if you stretch your wings."
3857 23rd Avenue South
Minneapolis, MN 55407
612-724-2331
[EMAIL PROTECTED]
Russell W. Peterson, RA, CID
Founder
