[Mpls] Minneapolis taxpayers - sharpen your pencils

[Terrell Brown]

--- Victoria Heller <victoriaheller at comcast.net> wrote:

> The big guys are bailing out of Minneapolis with big losses!

[TB]  Looks to me that someone is making an investment in downtown
Minneapolis.  No taxpayer subsidy, they see value in buying property in
Minneapolis.  A new investor in downtown seems like good news.

Selling property for less than one pays for it may not even be a loss. 
We don't know how much depreciation the prior owners may have taken on
the property to reduce their basis going into the sale.

The view of downtown office buildings as I look out my living room
window looks much different today than it did 6 or 7 years ago.  There
is a significant amount of office space that didn't exist then.

Perhaps a better measure of the health of Minneapolis is the amount of
occupied office space.  When Target, for example, builds a new building
so that it can consolidate some of its functions that's a healthy
situation even if it takes some time until the previously occupied
space fills up.

The "Minneapolis is Bad" arguement just doesn't hold up.




Terrell Brown
Loring Park