> Jordan S. Kushner reminds us:
> When our city government gives $128 million to Ryan Construction to
> build a Target store, gives $39 million for a Mariott Hotel and Steven
> Spielberg entertainment complex, gives away riverfront property for $8
> per square foot to Ryan Construction, and so on and so on, is it any
> wonder that the city needs the rest of us to pay more for all its
> corporate welfare? If the Mayor and her city council backers can get
> away with this, they can get away with anything.
in response to a Strib article which includes:
> The bottom line is undisputed: Without new revenue, the MCDA would be
diminished and programs
> ranging from affordable housing and small business loans to historic
preservation and
> preparation of land for development would be jeopardized. Plans for the
Upper Mississippi
> Riverfront and the Central Riverfront would be in doubt.
[TB] One of the things that MCDA seems to be ignoring is that well over
half of the 2nd 10 years of NRP money (somewhere around half a BILLION
dollars) is required to be used for housing. If the City no longer has
money to fund the Mayor's Target store with its ever increasing price and
the Block E fiasco, there will be no complaints from me.
The City of Minneapolis has so abused tax increment financing and included
such a large portion of the tax base in districts that withhold money for
general purposes that it invited restrictions on the use of TIF money. I
see no reason that nearly every new building in downtown gets a taxpayer
subsidy, American Express, Target et al can certainly afford to build
without contributions from all of us. Unfortunately the few Councilmembers
who objected did not prevail.
No sympathy here if MCDA runs out of money, they've done a horrible job with
what they have had.
Terrell
_________________________________
Terrell Brown
Loring Park
110 West Grant Street
Minneapolis, MN 55403-2315
[EMAIL PROTECTED]
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