>From Steve Brandt's Strib article on Wednesday....... "A Minneapolis City Council committee Tuesday endorsed a team headed by Ryan Companies as the preferred developer of the Sears complex on Lake Street." "Ryan has offered $2.2 million for the site."
Hmmmmm.....$2.2 million for 1.2 million square feet of space on several city blocks? Real estate values in Minneapolis must have crashed. Using these figures, the average home in Minneapolis would be worth about $5,000. Not long ago, former Council Member Steve Minn stated in a Southwest Journal article that "land values in Minneapolis were $20 to $27 per square foot." He must be jealous - since he paid $2 million for the land underneath Stone Arch Apartments -- or so he claims in MCDA documents. In several condemnation cases, Minneapolis has paid more than $50 per square foot for land. This makes me wonder if Rebecca Yanisch (former MCDA Director) went back to work for Ryan. Heck, maybe Ryan offered everyone at the MCDA lifetime employment. It would be a public service if the StarTribune would tally up the total taxpayer dollars lost so far on this debacle. How much did the MCDA pay for the Sears site nine years ago. How many millions in uncollected property taxes have we sacrificed over that period? Why did the MCDA pay Ray Harris almost $1 million to walk away from the deal a few years ago? How much has the MCDA spent to maintain this white elephant? This proposal is either corrupt or the worst example of incompetence that I've ever seen. If the City sells the Sears site for $2.2 million - I'll be the first person to call the U. S. Attorney's office to investigate. In the meantime, I'll petition the Tax Court to reduce my Minneapolis property taxes since my properties must be worth about $5 each. http://www.startribune.com/stories/462/4154871.html Vicky Heller North Oaks REMINDERS: 1. Think a member has violated the rules? Email the list manager at [EMAIL PROTECTED] before continuing it on the list. 2. Don't feed the troll! Ignore obvious flame-bait. ________________________________ Minneapolis Issues Forum - A City-focused Civic Discussion - Mn E-Democracy Post messages to: mailto:[EMAIL PROTECTED] Subscribe, Un-subscribe, etc. at: http://e-democracy.org/mpls
