Comparing St. Paul and Minneapolis would be difficult in any case, because of the huge presence and aid provided by the State in Minnesota's capital city, including the construction of fancy new Department of Revenue building just over the river from downtown St. Paul and the fancy building (is it the Department of Natural History?) near the State Capitol up on the hill. What would St. Paul be like without the economic boom of all those state employees in its midst? Or, if you don't like that train of thought, there's always the $65 million bailout Arne Carlson provided Norm Coleman by including the Xcel Arena in the state's bonding bill after a state contribution had been defeated in the Legislature. If the city had been compelled to use its own cash or financing to come up with that $65 million, its economic outlook--already laden with long-term debt--would look even grimmer than it does now.
Britt Robson Lyndale ----- Original Message ----- From: "David Brauer" <[EMAIL PROTECTED]> To: <[EMAIL PROTECTED]> Sent: Tuesday, October 05, 2004 3:08 PM Subject: Re: [Mpls] $69 million of City taxes in 2003 went to DEVELOPERS, NRP On Oct 5, 2004, at 2:42 PM, Anderson & Turpin wrote: > By the way David, your numbers don't tie to Vicky's. She said $69 > million > out of $250 million went to TIF, which is 27.6%, whereas you say it's > 15.2%. > For some reason I can't get to Vicky's site to check it out. What is > your > reference? The Citizen's League report itself. The author, Bob DeBoer, confirms that the 15.2 percent represents the share of the city's Net Tax Capacity tied up in its own TIF districts. It's table 4 (page 7 of the printed report). While the League report cites a Minneapolis TIF figure ($69 million), it does not cite a figure for the city's Net Tax Capacity. By my math, it would have to be about $450 million overall to get to 15.2 percent. Vicky cited a City of Minneapolis financial statement listing report a Net Tax Capacity figure of $250 million. It's possible that figure is not apples-to-apples with the Citizens' League — I've asked them for more details. However, even if their formula produces a different result, my guess is it would affect the other cities' TIF percentages as well, keeping Mpls is 24th place. By the way, for you St. Paul-o-philes, the Citizen's League report puts the Capitol City at 9.3 percent net tax capacity tied up in TIF. That is indeed lower than Mpls's 15.2 percent. However, the Citizens League notes that St. Paul's TIF-value change in dollar terms went up 23.8 percent from 2003 to 2004 — more than double Mpls's 10 percent hike. David Brauer Kingfield 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 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
