Barbara Murray wrote: "The City of Minneapolis is planning to "forgive" a 1.8 million dollar loan made to the West Bank Community Development Corporation and it's various "acronyms" when (and if) they can manage to sell 19 units-some single family and some duplexes to the long suffering occupants. The owners (WBCDC, and other "partners" in cahoots with the non-profit- too numerous to keep track of), paid little or nothing for these homes over 20 years ago."
Vicky adds: Yep. If you want to see what $100 million worth of "redevelopment" using Tax Increment Financing (TIF) can buy - come on over to the West Bank and take a look. Our friendly neighborhood developer, The West Bank Community Development Corporation, run by Tim Mungavan, spent all of the money and produced the highest poverty rate (46%) in the City and the lowest rate of homeownership (10%.) It just goes to show what one can do on a small budget! 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
