My goodness, I received a deluge of e-mails overnight wanting to know why I wasn't allowed to build my 102 unit apartment project in 1995.
First, I discovered that the MCDA (without my knowledge) had signed a contract in 1988 which promised to give my land to George Sherman/Riverside Plaza. I had to spend almost nine years in Court to reverse this illegal act on the part of the City. The MCDA falsely (and knowingly) claimed that it had "easement rights" over my property. Once they made that claim, even though it was a lie, there was a cloud on my title. In other words, I couldn't borrow against the land, or sell it, or do anything with it until I could PROVE in Court, that I owed the land free and clear of any encumbrances. Now, I can finally develop my land, but the market has changed. There is a glut of overpriced apartments in Minneapolis, construction costs have soared, and people are leaving the City. In all investments, timing is everything. It's not what, but when that matters. I'm no longer willing to invest in Minneapolis - the political antics are too dangerous and costly. To me, it would be equivalent to buying Enron stock in 2000, which I did by the way - yikes!. (A sidenote: The bookkeeping in Minneapolis make the Enron boys look like amateurs.) Understand that it costs a lot to hold real estate that doesn't generate income. (Minneapolis taxpayers don't even know how many millions they have lost by owning Block E and the Sears site for decades each.) For private property owners, there are taxes, insurance, snow removal, lawn care, among other operating costs. Each month that a development is delayed - increases the cost of the eventual project. Jumping through hoops in Minneapolis, just to get approvals and permits, takes YEARS. In addition to the bureaucracy downtown, one must contend with the little fiefdoms called "neighborhood groups" run by bullies with no real jobs (based on personal experience.) Here is another arms length example. An acquaintance of mine has been trying to open a night club, Baja Riverside, for two years. During that time, the property owner has been paying $12,000 per month in debt service plus taxes, maintenance, legal fees, architectural fees, and exorbitant construction costs. He told me that he's sorry he ever started the process. Two reasons for the delays: Liquor license and George Sherman, who owns the other half of the block, wants this man's land. It took almost a year to get the liquor license (even though he already has one in Minneapolis) because: GET THIS.......Council Member Zerby pandered to the Muslim neighbors at Riverside Plaza who "don't approve of alcohol." Never mind that a bar has been at that location for 100 years and that there are 14 other bars in the vicinity. In Minneapolis, religion apparently trumps property rights. This past year was spent fighting off a Sherman/Marchant attempt to get a key piece of land next to the LRT station. This battle culminated a couple of months ago with Council Member Zimmerman offering to "withdraw his objection to Sherman's parking variance appeal" IF the property owner sold the key piece of land to Sherman. You decide what to call that! The end of the story is that the property own can finally proceed with his night club, but he will open it more than $300,000 in the hole. Contrast this with Montana where a liquor license costs $20 and you can open your business the next day. There are lots of these awful stories in Minneapolis - but the citizens don't know about them. Utterly disgusting. Which is why I am headed west to one of the "free states." I'm sick of the smarty pants college boys trying to run my life and my business.......can hardly wait to join a few cowboys and ranchers in Wyoming. For reference, here is a gorgeous property that's for sale: http://www.rockriverranch.com/. Hee Haw! 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
