LET’S GET REAL # 8 – SHOOTING DOWN ED MN BULLETS

Read the screed Here.

• Fiscally, a better option would be to get one-time money from a non-competitor that will maintain permanent property tax income for the district.

Well Duh! Doesn’t Ed Mn know that Central has sat empty sucking up $170,000 every year in heating and maintenance for six years? We had one buyer who chickened out at the last minute and they only offered us 70% of what we were offered by Tischer Creek Building Corp.

As for the over-hyped permanent property tax income for the district of a modest development of $40 million it would amount to significantly less than 100 grand per year and that’s if the City didn’t grant a TIF District to a developer. In that case we would have to wait 20 years to see a cent from the developed property.

Does Ed Minn offer this kind of boneheaded financial advice to all of its affiliates?

About the author

Harry is a ferociously good natured eccentric in Duluth Minnesota who detests traitors dressed up as Uncle Sam. You can find somewhat better edited writings of his at the Duluth Reader "contributors." page. The URL is:

https://duluthreader.com/contributors/h/84/284-harry-welty