[Mpls] $69 million of City taxes in 2003 went to DEVELOPERS, NRP

[David Brauer]

On Oct 5, 2004, at 10:20 AM, Victoria Heller wrote:
>
> The total tax revenue for the City in 2003 was $250 million (rounded  
> for
> simplicity).  Of that, $69 million DID NOT GO TO THE GENERAL FUND.   
> Instead,
> it was "captured" (DIVERTED) by 103 TIF Districts in Minneapolis.  See  
> the
> table on Page 7....
> http://www.citizensleague.net/blogs/homepageblog/archives/ 
> final_Journal_9-04
> .pdf
>
> I notice that St. Paul doesn't even appear on the Table.....maybe  
> that's why
> St. Paul hasn't raised property taxes for 13 years.
>
Additional context from the Citizens League report:

Minneapolis is not even in the Top 20 cities in the state for  
percentage of net tax capacity tied up in TIF (it's 24th).

Minneapolis has 15.2 percent of its net tax capacity in TIF. That's  
less that Chaska (20 percent), Mounds View (21.5 percent), Fridley  
(15.4 percent) and Osseo (15.4 percent), among others.

Remember, St. Paul is the city that subsidizes office buildings (Mpls  
never has) and recently loaned Gander Mountain up to $3,000 per job to  
relocate 200 jobs to their downtown (see  
http://www.startribune.com/stories/535/4995528.html).

Context is a beautiful thing.

David Brauer
Kingfield