Randy Kelly is proposing that St. Paul purchase various property around the
city.
So far it breaks down to this:
Hamms Brewery site $500,000
Schmitt's 1 million
Lot at Snelling and 94 8 million
N.E. corner of University and Dale 1.5 million
Former Hospital Linen on E. 7th (no given amount)
Hillcrest Shopping strip mall 14.2 million
Monday evening, I met briefly with Susan Kimberly, Kelly's Director of
Planning and Economic Development to hear what Kelly's plan is. Some
interesting
things she said.
That Hillcrest would be rebuilt as condo's. She reiterated her statement
that Hillcrest is a 1957 style strip mall in decay and the area needs to be
revitalized. No mention of building a bigger Hayden Heights Library.
The former bus barn lot at Snelling and Freeway 94 is a "hot" spot for Big
Bucks.
She wouldn't say who the interested players are.
There seems to be no other plan in mind other than land speculation which I
am told from a realtor friend of mine can be scary business. Especially if
it's with people who don't know what they're doing.
Kelly wants to borrow 32 million on a 20 year bond; to be paid back with the
city's 1/2 cent sales tax. Adding the figures above comes to a little over
25 million. The rest of the 6 to 7 million would be used for some land
development and enticing prospective investor interest.
Myke P. Golben
Battle Creek
-------------------------------------------------
JOIN the St. Paul Issues Forum TODAY:
http://www.e-democracy.org/stpaul/
-------------------------------------------------
POST MESSAGES HERE: [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/
