Eagan OKs purchase of Cedar Grove parcel for upscale outlet mall

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Amused Slew

Seattle, WA

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#243
Jan 6, 2013
 
Eagan, come for the fruit loops, stay to annoy the spamming whiny bytches..

I see why you can't afford a home, no instant cash flow, right L-O-S-E-R ~!

What did RawMoney have to do with cash flow ??? Odd, that's why your party ran the guy !!!
non-starter

Burnsville, MN

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#244
Jan 6, 2013
 
Amused Slew wrote:
Eagan, come for the fruit loops, stay to annoy the spamming whiny bytches..
I see why you can't afford a home, no instant cash flow, right L-O-S-E-R ~!
What did RawMoney have to do with cash flow ??? Odd, that's why your party ran the guy !!!
From Wikipedia, common concerns raised about TIF projects:

Although generally sold to legislatures as a tool to redevelop blighted areas, some districts are drawn up where development would happen anyway such as prime areas at the edges of cities. California has had to pass legislation designed to curb this abuse.[7][8]

The designation as blighted, essential to most TIF implementation, can allow governmental condemnation of property through eminent domain laws. The famous Kelo v. City of New London United States Supreme Court case, where homes were condemned for a private development, was about actions within a TIF district.

The process arguably leads to favoritism for politically connected developers, implementing lawyers, economic development officials and others involved in the process

In some set-ups school districts within areas that are big TIF users are experiencing larger increases in state aid than those within areas that are not relying heavily on this mechanism. This may be creating an incentive for governments to over-TIF and to take on more risk. Governments are under no obligation to recognize when TIF would seriously harm a school districtís financial condition.

Normal inflationary increases in property values can be captured with districts in poorly written TIFs, representing money that would have gone to the public coffers even without the financed improvements.

Districts can sometimes be drawn too large and capture value that would have been increased anyway for unrelated reasons.

Approval of districts can sometimes capture one entity's future taxes without its official input, i.e. a school districts taxes will be frozen on action of a city.

Capturing the full tax increment and directing it to repay the development bonds ignores the fact that the incremental increase in property value likely requires an increase in the provision of public services, which will now have to be funded from elsewhere (often from subsidies from less economically thriving areas). For example, the use of tax increment financing to create a large residential development means that public services from schools to public safety will need to be expanded, yet if the full tax increment is captured to repay the development bonds, other money will have to be used.[9]

mr low integrity poster, your meaningless personal attacks are quite amusing, to you. Keep trying, you might want to move down to your fifth grade playbook, this sixth grade attack stuff is clearly over your head.

Eagan, come for the eminent domain, stay for the privately held, Eagan city TIF subsidized, outlet mall.
Consistent

Minneapolis, MN

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#245
Jan 6, 2013
 
The project is expected to bring thousands of jobs and add millions to the Eagan tax base.

An estimated 400 constructions jobs and between 1,600 and 2,000 retail jobs are expected, said LaHood.

Once finished it will add approximately $84 million to the tax base, according to city officials.
non-starter

Burnsville, MN

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#246
Jan 6, 2013
 
Consistent wrote:
The project is expected to bring thousands of jobs and add millions to the Eagan tax base.
An estimated 400 constructions jobs and between 1,600 and 2,000 retail jobs are expected, said LaHood.
Once finished it will add approximately $84 million to the tax base, according to city officials.
According to those same city officials, that project was going to be a mixed use upscale development. Now it is a $40 million drain on Eagan's taxpayers.
Amused Slew

Seattle, WA

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#248
Jan 6, 2013
 
I see why you can't afford a home, no instant cash flow, right L-O-S-E-R ~!
Amused Slew

Seattle, WA

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#249
Jan 6, 2013
 
Predicting the future, AFTER you got it SO RIGHT, on the last election ?? REALLY !???? LMAOROTFU~! You make Sangelia look gifted....
Amused Slew

Seattle, WA

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#250
Jan 6, 2013
 
Sorry pal,

I guess you're really jealous, you never EARNED a 15 cent raise...
non-starter

Burnsville, MN

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#251
Jan 6, 2013
 

Judged:

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Consistent wrote:
The project is expected to bring thousands of jobs and add millions to the Eagan tax base.
An estimated 400 constructions jobs and between 1,600 and 2,000 retail jobs are expected, said LaHood.
Once finished it will add approximately $84 million to the tax base, according to city officials.
$84 million tax base increase, woo hoo..........that should pay off that $40 million TIF in about 30 years, what a great investment. Slewsie would die for a return where he could break even in just 30 years, give or take a few.
non-starter

Burnsville, MN

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#252
Jan 6, 2013
 

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Amused Slew wrote:
Sorry pal,
I guess you're really jealous, you never EARNED a 15 cent raise...
I get it now, I get it now. You are attempting to break the Guiness Book of World Records record for most stupid posts in a second, minute, hour, day, week, month, year, and decade. I think you are a shoo-in. Good luck.
Amused Slew

Seattle, WA

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#253
Jan 6, 2013
 
Still bitter jw ?? Yeah, you're a hypocrite moron.
non-starter

Burnsville, MN

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#254
Jan 6, 2013
 
Amused Slew wrote:
Still bitter jw ?? Yeah, you're a hypocrite moron.
While I have no idea of who you are talking to, nice try mr low integrity poster.
Consistent

Minneapolis, MN

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#255
Jan 6, 2013
 
You have an obsession with this outlet mall that is not healthy. I'd recommend seeking professional help as soon as possible.

No one in the Eagan community is opposed to the mall or the financing. Almost all think the mall will be an excellent addition to Eagan, spur further development in the area, and add significantly to the city tax base.
non-starter

Burnsville, MN

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#256
Jan 6, 2013
 
Consistent wrote:
You have an obsession with this outlet mall that is not healthy. I'd recommend seeking professional help as soon as possible.
No one in the Eagan community is opposed to the mall or the financing. Almost all think the mall will be an excellent addition to Eagan, spur further development in the area, and add significantly to the city tax base.
No one in the Eagan community? Really? No one? I would love to see your polling data that backs up your assertion, since no one equates to 100%.

Your conjecture is flawed, as is your limited logic. Continue to spam multiple threads, and if you are really the poster known as Slew, you should really post this under your Seattle address so the people at Guinness know which poster to credit the posting to.
non-starter

Burnsville, MN

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#259
Jan 6, 2013
 
Consistent wrote:
The project is expected to bring thousands of jobs and add millions to the Eagan tax base.
An estimated 400 constructions jobs and between 1,600 and 2,000 retail jobs are expected, said LaHood.
Once finished it will add approximately $84 million to the tax base, according to city officials.
Let's see, spend $40 million 5 years ago to add $1.2million a year to the tax collections in a couple of years from now. Solid liberal math, better than average liberal payback.
non-starter

Burnsville, MN

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#261
Jan 6, 2013
 
Consistent wrote:
You have an obsession with this outlet mall that is not healthy. I'd recommend seeking professional help as soon as possible.
No one in the Eagan community is opposed to the mall or the financing. Almost all think the mall will be an excellent addition to Eagan, spur further development in the area, and add significantly to the city tax base.
Let's see, spend $40 million 5 years ago to add $1.2million a year to the tax collections in a couple of years from now. Solid liberal math, better than average liberal payback. I just didn't think you guys went in for corporate welfare. But there you are, supporting it in black and white.
Consistent

Minneapolis, MN

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#262
Jan 6, 2013
 
Yes, it IS solid math. A blighted area - a nearly vacant decaying mall - will be rebuilt as a beautiful addition to the city, will add thousands of long term jobs and several hundred construction jobs, and will add to the city tax base.

Plus this will spur development on the remaining 15 or so acres and areas around the outlet mall.

This is a win-win proposition for Eagan - only a fool could fail to see this.
The Truth Squad

Palm Desert, CA

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#263
Jan 6, 2013
 
non-starter wrote:
<quoted text>Let's see, spend $40 million 5 years ago to add $1.2million a year to the tax collections in a couple of years from now. Solid liberal math, better than average liberal payback. I just didn't think you guys went in for corporate welfare. But there you are, supporting it in black and white.
Just a thought. There were several businesses that went to court over this land acquisition. Wondering if you were one of those?
I know that one business in particular was very unhappy and fought it to the bitter end.
non-starter

Burnsville, MN

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#266
Jan 7, 2013
 
Amused Slew wrote:
Guns are a "bad investment" since they have no IMMEDIATE PAYBACK, right non-thinker ??? Check with Guinness...
No, its a bad investment because it doesn't return any tax revenue that the city can use for over 30 years. A 30 year plus payback on a $40 million investment to raise property tax values by $84 million. You couldn't possibly be making any money in the stock market, no wonder you post the gains after they happen.

Eagan, come for the eminent domain, stay for the increasing property taxes and outlet mall they support.
non-starter

Burnsville, MN

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#267
Jan 7, 2013
 
The Truth Squad wrote:
<quoted text>
Just a thought. There were several businesses that went to court over this land acquisition. Wondering if you were one of those?
I know that one business in particular was very unhappy and fought it to the bitter end.
I am strongly opposed to a public entity using eminent domain to take private property from one landowner to give to another private landowner. Period.

As for those property owners, in the existing eminent domain law at the time, the city is supposed to get a fair market valuation and offer that to the landowners they are taking the land from. Eagan at the time refused to turn over the valuations to the landowners, and lowballed the owners. The auto businesses and the Uhaul business in that area could not get similar zoning use properties in Eagan for 3 times what the city was offering for their property by Cedarvale. The city administrator "saved" the city some money at the expense of the businesspeople he was making the land grab on. I own some property in a couple of different areas, and the city, county, state could take it via eminent domain under current Minnesota law only for the purpose of a public project, not to give to a different private party for a use just because is generates more tax revenue for the entity. The Eagan TIF isn't going to generate additional property taxes for years until the TIF is paid for, and by that time the outlet mall will be run down.
Amused Slew

Seattle, WA

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#269
Jan 7, 2013
 
non-starter wrote:
<quoted text>No, its a bad investment because it doesn't return any tax revenue that the city can use for over 30 years. A 30 year plus payback on a $40 million investment to raise property tax values by $84 million. You couldn't possibly be making any money in the stock market, no wonder you post the gains after they happen.
Eagan, come for the eminent domain, stay for the increasing property taxes and outlet mall they support.
In your "mini-mind" the jobs, shopping, and increased quality of life have no value....SUCKS to be you. Nobody else matters, to your moron "mind"...

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