One acre of land contains 43,560 square feet. Last fall, Steve Cramer (then executive director of the MCDA) said that the land sale to the Guthrie involved "no subsidies" - it was a "fair market value" deal. 10 acres of the City's BEST RIVERFRONT LAND for $3 million. That was $6.79 per sq. ft.
Now we ponder selling two parcels: Seven acres to the Guthrie for $4 million = $7.62 per square foot. Three acres to ????? for $2.3 million = $5.68 per square foot. A Few Questions for Council Members (MCDA Commissioners): Minneapolis paid $50.00 per square foot for Target Store land. Why is Riverfront land so cheap? Why is there a discrepancy between the two prices: $7.62 vs. $5.68? The parcels are adjacent. How much did the City pay to acquire the land, and how long have we been holding it (off the tax rolls?) In other words, what was our COST - so we can calculate our LOSS. Lots of investors would LOVE to buy riverfront land at those prices: Where do we submit our bids? How will you choose the WINNERS? Eagerly awaiting a reply, Vicky Heller North Oaks and Cedar-Riverside (a stone's throw away from the site in question) _______________________________________ Minneapolis Issues Forum - A Civil City Civic Discussion - Mn E-Democracy Post messages to: [EMAIL PROTECTED] Subscribe, Unsubscribe, Digest option, and more: http://e-democracy.org/mpls
