In a message dated 2/16/2005 4:13:35 PM Eastern Standard Time, M Charles Swope <[EMAIL PROTECTED]> writes: > >This story raises lots of questions. One I have is how >is it that the Port Authority spends $450,000 on site >preparation for a project before it has any assurance >that financing for the project is in place and that >the promoters will actually be able to complete it? >
OK - I got this one. The Port Authority is in the business of bringing business to the City of Saint Paul. So, the Port picks up land that has the potential of being used for industrial purposes. Often that is old industrial land and/or polluted land. The Port then either tries to find someone who can use the land as is or the Port prep's the land for future development. So, in this case with this being polluted land near the river, I'd guess they though it is in the best interest that the next tenant be on clean land so they prepared the land for future development as they marketed it. In all likelihood they have plenty of other parcels where they have already invested in site preparation as a part of marketing the land for development. What no one is saying about the site that I find interesting is that it had limited marketability not because it was polluted but because it is in the flight path of that business hurting airport that requires that land and the East Side of Downtown to have height restrictions. That is why you could spend three years trying to get a funeral home there and there wasn't any other interest in the land. JMONTOMEPPOF Chuck Repke West 7th _____________________________________________ 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/
