>From today's Mpls Observer...... The city is refinancing some $16 million in municipal debt related to the parking ramps to make it easier for a private buyer to take on the [losing] properties. But Born said the city isn't in such a hurry to part with the ramps that they'll be available at discount rates. "We would have to sell them at a price that makes sense for us," he said. [Vicky adds: It would take some fancy financing to turn those losers into winners. How many suckers are out there anyway?]
Vicky says: I hope Mr. Born insists that the sale price for the Sears site "makes sense for us" too. Why is the City engaged in real estate speculation? In the deals that I have tracked, Minneapolis paid outrageously high prices to acquire property, then sat on it for years paying operating costs and sacrificing tax revenue, and then gave it away to insiders. The inside real estate guys in town have been laughing all the way to the bank - to deposit your money. They think Minneapolis taxpayers are nuts! We would all be better off if the City kept its nose to the grindstone: Police, Fire, Parks, Streets. Leave the investing to those who RISK THEIR OWN MONEY -- because they know how to do it. 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. For state and national discussions see: http://e-democracy.org/discuss.html For external forums, see: http://e-democracy.org/mninteract ________________________________ 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
