In a message dated 11/1/2000 6:26:25 PM Central Standard Time, [EMAIL PROTECTED] writes: << First, the MPRB owns Meadowbrook, not the City. The MPRB is a separate legal entity both corporate and politic. I suspect that Meadowbrook, while not hugely profitable, does have one enormous benefit to the MPRB...its revenues go to the Park Board Enterprise Fund...sort of the MPRB equivalent of the City's Parking Fund. Enterprise Funds of the MPRB are not tied to general revenues/obligations, and are therefore a fund that allows the MPRB unencumbered development of facilities without having to reduce or adjust the general revenues or levies of the MPRB... If the MPRB were to sell Meadowbrook, the lump sum proceeds would/should go to the Enterprise Fund, but the future stream of cash flow would be lost. The MPRB is not likely to want to have an enormous lump of cash surplus on its books in the enterprise fund, when they are busy making the case that they need additional funds from the city general levy, Local Government Aid... >> Sounds like good reason for reducing MPRB funding from Mpls. General Fund... if they have the asset (Meadowbrook), let them earn a satisfactory return on it to support their other functions-- or sell it!. Whatever the corporate/legal entity details, the bottom line is Mpls. taxpayers own Meadowbrook! M. Hohmann 13th Ward
