>From Steve Brandt's article: "The city owes $6 million on the building for money borrowed to finance its purchase, rehabilitation costs and interest."
"McCaffery, who is developing nearby Block E, offered $2.5 million for the building" .....the city's cost to hold the building is $430,000 annually." Obvious Questions that were NOT asked: Who pocketed the $6 million? When did the default occur? Why didn't we hear about it? How long has the building been empty? This is a mini-Brookfield debacle - one of many that the public was never told about. Oh well, another $4 million down the toilet - too bad we can't collect sewer charges for it. Vicky Heller Cedar-Riverside and North Oaks TEMPORARY REMINDER: 1. Send all posts in plain-text format. 2. Cut as much of the post you're responding to as possible. ________________________________ Minneapolis Issues Forum - A City-focused Civic Discussion - Mn E-Democracy Post messages to: mailto:[EMAIL PROTECTED] Subscribe, Unsubscribe, Digest, and more: http://e-democracy.org/mpls
