Kathy Thurber's assertion that Tax Increment Financing for large downtown
commercial development funds neighborhoods deserves to be evaluated on its
merits.
Here is the test: News accounts state that the downtown Target project is
receiving $127 million in TIF subsidies. Can someone with knowledge of the
local tax structure please provide a liberal estimate of how many years it
will take for the downtown Target store to pay back $127 million in local
taxes?
Jordan Kushner
Ward 8, Powderhorn
----- Original Message -----
From: "List Manager" <[EMAIL PROTECTED]>
To: "Mpls list" <[EMAIL PROTECTED]>
Sent: Thursday, February 08, 2001 3:40 PM
Subject: [Mpls] Kathy Thurber's withdrawal letter to 9th Ward DFL delegates
> [The following is the text of 9th Ward Council Member Kathy Thurber's
> withdrawal letter to DFL delegates. Again, all typos are mine. - David
> Brauer, list manager]
>
>
> When faced with votes on major downtown development projects, my first
> concern has always been the well-being of the neighborhoods. The projects
> I've supported will help our neighborhoods by increasing the pool of money
> available for the Neighborhood Revitalization Plan. What my opponents
don't
> understand is that Tax Increment Financing funds the NRP. It's that
simple.
>
> The downtown Target store will be an asset to the tax base and the job
base
> of Minneapolis That building alone can be a major contributor to NRP Phase
> 3, in a few years. "Downtown v. the neighborhoods" is a hollow campaign
> slogan. We would be foolish not to want both a thriving downtown and
healthy
> neighborhoods.
>
> Furthermore, Tax Increment Financing is a tool neighborhood activists
should
> be fighting to preserve. It's under assault by Republicans in the
> Legislature just when it's becoming useful outside of downtown. Without
TIF,
> the Coliseum development at 27th & Lake would have been impossible, and
> we'll likely need TIF for commercial corridors and mixed-use development
in
> the years ahead. My opponents don't understand this.
>
> The 9th Ward is better off than it was when I took office. I've worked
with
> wonderful neighborhood people and organizations. Many of my colleagues in
> elected office and some excellent staff who work for the City of
Minneapolis
> have helped me got the resources into the 9th Ward where they were needed,
> and when they were needed most. For their sakes, I've tried to carry on
and
> fight the good fight; but this campaign isn't a good fight. It's
destroying
> relationships and undermining the good will I have worked so hard to build
> in our neighborhoods. Simply put, it's not my kind of politics. I bring
> people together
>
> I'm proud of my service and what I have accomplished, but I am unwilling
to
> put myself, my family, and my friends through a long and mean-spirited
> campaign. I've decided to move on, and not to seek reelection. I will
> continue to serve the people of the 9th Ward well throughout the rest of
my
> term, and I will find new ways to be of service and contribute to this
great
> City.
>
> Sincerely,
> Kathy
>
> _______________________________________________
> Minneapolis Issues Forum - Minnesota E-Democracy
> Post messages to: [EMAIL PROTECTED]
> Subscribe, Unsubscribe, Digest option, and more:
> http://e-democracy.org/mpls
>
_______________________________________________
Minneapolis Issues Forum - Minnesota E-Democracy
Post messages to: [EMAIL PROTECTED]
Subscribe, Unsubscribe, Digest option, and more:
http://e-democracy.org/mpls
