The city is going to lend local developer Sherman Assoc. and Kraus-Anderson $1 million to help them win the bidding for the Schmidt Brewery/GSE property on West 7th. http://www.twincities.com/mld/twincities/news/local/10859884.htm There is also the possibility of further help in the form of tax increment financing later on.
The rationale for this, and it may be correct, is that this will give the city better control over the design of what's built on the site. The Sherman/Kraus plan is for housing with some small retail, a coffee shop being mentioned. But is anyone worried about the city financing one bidder against another? It's understandable that the city is concerned about what happens to the site. But how do we know that Sherman/Kraus has the best design? Isn't it possible that another bidder might have a decent plan as well. And isn't the city just increasing the amount of money that will be paid for the property? That money will go to pay the bills of the people who tormented the neighborhood for so long. I'm not saying that this is a terrible thing to do. I don't know. I'm just raising some questions and hoping someone more knowledgable or insightful can answer them. Again, I understand the city's motivation. I just wonder about the city's association with the developer community. Charlie Swope Ward 1 _____________________________________________ To Join: St. Paul Issues Forum Rules Discussion Email: [EMAIL PROTECTED] ____________________________________________ NEW ADDRESS FOR LIST: [email protected] To subscribe, modify subscription, or get your password - visit: http://www.mnforum.org/mailman/listinfo/stpaul Archive Address: http://www.mnforum.org/mailman/private/stpaul/
