Here are some facts regarding Hey City:
The MCDA (now the City) bought the building from Hirshfield's (spelled
with no c) in 1995 for $500,000. Acquisition financing consisted of
$50,000 loaned to the MCDA by 2 nearby property owners, an additional
$50,000 down payment, and a $400,000 contract
Vicki's data is interesting and worth double-checking. However, journalists
are on it. Here's another source:
http://www.twincities.com/mld/pioneerpress/entertainment/performing_arts/900
6136.htm
(The PiPress broke this story and their info has been more complete.)
According to the story:
The
There's a simple answer to why Hirshfield's is listed as the owner and
Hey City as the taxpayer: this property is owned under a contract for
deed.
Until the contract for deed is satisfied, Hirshfield's will remain the
owner. It retains the fee title until the contract is paid off, at
which
