Steve said:
<Three factual corrections seemed worth making. While it
won't mollify
project critics, the public investment in the 900 Nicollet
block (Target
Store) is $59.6 million, not $128 million. 1/3 of the
investment is in
publicly owned assets, most notably a 600 space parking
facility. Similarly,
no public funds were invested in the Block E hotel.>
The facts depend on your perspective. Target builds stores
all over the country financing it's own parking facilities.
Just because it is a public asset doesn't mean it wasn't a
subsidy. Parking at this level is a requirement of their
business and as such should be an expense they bear
directly. And I believe a huge building was moved from
Block E in order to attract "a full block development."
Thus there were public investments in the Block E hotel.
Just because the line item on the spreadsheet isn't
attributed directly to the "footprint" of a building,
doesn't mean that there wasn't expenses attributed to that
building. This is where citizens need to be smart and
resist the pressure of developers who love to line their
pockets with taxpayers money - and not just downtown - that
huge investment at 50th and France is just as bad.
In this great time of wealth creation, I'd like to see
developers step forward and do what's right for our city
instead of continually have their hands out. The only way
that will change is if there is new leadership in City Hall
and government employees who are willing to speak their mind
about the current lunacy.
Russ Peterson
former Standishite
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