In an exchange over the weekend, it was said that only residents would pay
for the library referendum. This is not the case. The referendum will
affect ALL property owners, whether the property is residential, commercial
or industrial, and it will affect them equally. The cost for every $100,000
of property will be $5.07 in the first year, increasing to $56.71 in the
fifth year, at which point it remains constant for the duration of the
referendum. Additional revenue will be raised through TIF, a private
capital campaign, and state funding (for the planetarium, which is not
included in the referendum).
Colin Hamilton
Executive Director
Friends of the Minneapolis Public Library
612/630-6172
612/630-6180 (fax)
[EMAIL PROTECTED]
