David Brauer writes:
2. The Strib story also notes Wells Fargo (Minneapolis) taxes had
dropped from $9.73 a square foot in 1998 to $9.12 in 1999 to the $8.73
2000 figure. Commercial property taxes will drop again - significantly -
in 2001. The shift Vicky notes is already happening: businesses are
paying a smaller chunk of the property taxes, and homeowners more.
Perhaps she can work to reverse that! <grin>
3. Wells Fargo was built by private market forces in a high property-tax
climate. The building has done just fine, whatever the
cost-per-square-foot in property taxes is. Don't forget; taxes aren't
money down the drain - they buy things too. Things that apparently
helped made such a building a good investment over time
Point of information here, David.Wells Fargo does not own the Wells
Fargo Center. The building is owned and managed by a different
company (whose name slips my mind at the moment) to which the
various WF companies that occupy the center pay rent. In fact, most
of the Wells employees downtown don't even work in the Center,since
there's cheaper office space in the Northstar Building, Baker Block,
Fifth Street Towers, and other downtown office buildings.
Wells Fargo Properties does own the various bank buildings around
the Twin Cities, as well as the former Norwest Operation Center
downtown, but the big ol' Cesar Pelli landmark belongs to somebody
else.
Kevin Trainor
East Phillips, 6-10
Shuffling electrons at the WF Center
