I agree with Britt Robson that this amounts to cluster-bombing of
rhetorical questions rather than engaging in a real discussion. I get
the point, after all, that you object to what you perceive to be
excessive subsidies. Plus, I asked a general question about a recent
trend where some landlords appear alarmist about "overbuilding."
Finally, you are asking the wrong person these specific questions,
though I can give you general answers off-list based on my knowledge, if
you want. Try calling the developers or public entities involved in
these or researching for information on the net for the following projects:
Franklin-Portland Gateway, developed by CCHT, Hope Community, and
Franklin Avenue Development
www.ccht.org will get you started in the right direction
Many Rivers (Niibiwa Ziib), developed by American Indian Housing and
Community Development Corporation
www.exodusdesign.com/aihcdc/housing_dev.htm gives a brief description
Near Northside Redevelopment ("Heritage Park"), developed by a number of
public and private ventures
www.mcda.org can get you in the right direction and City Pages and
others have had numerous articles about this development over the years
I would imagine Met Council and MHFA would also have applications for
grants from some of these developments and would be obligated to share
those applications if you wished to review them.
If I attempted to answer these questions I'd likely need to start a new
career, though I also believe answering them won't really satisfy some
people. Best of luck.
Gregory Luce
North Phillips (work)
Victoria Heller wrote:
> What is the total amount of the public subsidy (including financing) for
> each project?
> Are the taxpayers of Minneapolis on the hook for any debt?
> Who is the developer for each project?
> How much cash is each developer contributing from his/her own pocket to each
> development?
> How much is each developer paying him/herself in "developer fees?"
> How much is the MCDA receiving in "administrative and bond related fees?"
> Who will actually end up owning these multi-million dollar properties?
> Who will manage each project and receive management fees? How much each
> year?
> What are the total construction costs per unit? 1BR, 2BR, 3BR, etc.?
> Was eminent domain used to take private property from others for the benefit
> of the developers?
> How much did the developers pay for the land? To whom?
> How much rent will be charged for each unit? 1BR, 2BR, 3BR, etc?
> Will the Federal government be paying any of the rent to the developer?
> What happens if the developer cannot find enough tenants willing or able to
> pay the rent?
> Will tax increment financing be used in any of the projects?
> In what year will any increased property tax receipts be realized? By how
> much?
>
>
> If you would be kind enough to furnish these answers, our list members would
> be able to respond to your question about whether or not these projects make
> sense.
>
>
> Vicky Heller
> St. Paul
>
>
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