WM: While I don't think that's necessarily entirely true, given that there is hysterical designation on the building(s), I do not understand this. If the city and other entities pay the cost of redevelopment )or most of it), then who owns the building the city or the developer? If the city pays 60% of the costs, does it own 60% of the revenue? This stuff entirely confuses me.From Steve's article........
"Ryan offered $2 million for the site. Allina Health Systems paid $5.2 million for the much-smaller north end of the Sears site last year. Rivals also point out that Ryan offered the city the lowest price for the complex. Yet it also sought the highest developer fee at about $8 million, which city evaluators rated as reasonable."
Vicky: Selling the Sear's site for $2 million is equivalent to writing a $20+ million check to Ryan. Will Ryan be the owner of the finished product?
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