Here is an alternative to the way Steve Brandt wrote the NRP article...... The NRP intended to raid the general fund of $400 million over 20 years. Neighborhood activists have already spent $200 million.
Since Minneapolis abused Tax Increment Financing (TIF) and found itself with skyrocketing debts, the legislature clipped its wings. In 2003, Minneapolis expects to collect $61 million in TIF revenue and expects to pay $122 million in bond interest (debt service.) Therefore, funding the NRP will have to come out of the $61 million shortfall. For this reason, some people estimate the funding available to the NRP over the next ten years to be zero. Vicky Heller, North Oaks TEMPORARY REMINDER: 1. Don't feed the troll! Ignore obvious flame-bait. 2. If you don't like what's being discussed here, don't complain - change the subject (Mpls-specific, of course.) ________________________________ 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
