On Nov 11, 2004, at 12:26 PM, Victoria Heller wrote:
Even more intriguing is the fact that the Midwest Plaza building (attached
by skyway to the IDS building) has dropped 50% in taxable/market value over
the past five years to a current $8.9 million. True, it's smaller than the
IDS, but it's not just a blip on the sidewalk.
I think the point is that Mpls real estate goes up as well as down. It isn't all negative examples, as some suggest.
I have questions into the assessor's office about how they perform valuations, especially on recent sales.
But regardless of the "developing" (for years on this list) "scandal" about assessments, at least we can do away with the notion that it's only bad times and fleeing businesses/investors in Mpls's future. Clearly, there are many heavyweights rushing in.
By the way, did anyone notice that Gander Mountain recently lost 25 percent of its stock value ? This is AFTER St. Paul threw $700,000 at the company to relocate there. Remember this the next time anyone says Minneapolitans should replicate the Capitol City's corporate welfare policy.
http://www.startribune.com/stories/535/5077387.html http://www.bizjournals.com/twincities/stories/2004/09/20/daily37.html
David Brauer Kingfield
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