Victoria Heller wrote:
Why is it that in the vast majority of proven or alleged cases of this kind of incompetence or corruption, the MCDA is fat square in the middle of the deal? Sounds to me like MCDA is rotten to the core. I say fire the top 20 or 30 executives and managers at the MCDA and clean house. I, for another, am tired of being taken to the cleaners by the tax man to pay for the MCDA's conniving schemes to enrich wealthy developers.From Steve Brandt's Strib article on Wednesday.......
"A Minneapolis City Council committee Tuesday endorsed a team headed by Ryan Companies as the preferred developer of the Sears complex on Lake Street." "Ryan has offered $2.2 million for the site."
Hmmmmm.....$2.2 million for 1.2 million square feet of space on several city blocks? Real estate values in Minneapolis must have crashed. Using these figures, the average home in Minneapolis would be worth about $5,000.
Not long ago, former Council Member Steve Minn stated in a Southwest Journal article that "land values in Minneapolis were $20 to $27 per square foot." He must be jealous - since he paid $2 million for the land underneath Stone Arch Apartments -- or so he claims in MCDA documents. In several condemnation cases, Minneapolis has paid more than $50 per square foot for land.
This makes me wonder if Rebecca Yanisch (former MCDA Director) went back to work for Ryan. Heck, maybe Ryan offered everyone at the MCDA lifetime employment.
It would be a public service if the StarTribune would tally up the total taxpayer dollars lost so far on this debacle. How much did the MCDA pay for the Sears site nine years ago. How many millions in uncollected property taxes have we sacrificed over that period? Why did the MCDA pay Ray Harris almost $1 million to walk away from the deal a few years ago? How much has the MCDA spent to maintain this white elephant?
This proposal is either corrupt or the worst example of incompetence that I've ever seen. If the City sells the Sears site for $2.2 million - I'll be the first person to call the U. S. Attorney's office to investigate. In the meantime, I'll petition the Tax Court to reduce my Minneapolis property taxes since my properties must be worth about $5 each.
http://www.startribune.com/stories/462/4154871.html
Vicky Heller North Oaks
Not guilty? Prove it. Answer Vicky's questions completely and in detail.
Disgusted and Angry in Fulton, Chris Johnson
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