Outlet mall moves forward in Eagan
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Amused Slew

Kent, WA

#27 Jan 7, 2013
Payback in the 30 year range, JUST LIKE AN AVERAGE HOME ??? WOW !! Just lost your argument, then...

My posts TAUGHT you to spell Guinness, loser.

Pretty funny how your "mind" "works"...Especially , the part that pretends to process "facts"....

You are obsessed with something that Eagan is strongly in favor of. And you don't even live in Eagan.
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.

Will he get the "Guinness" World Record, too ???

NAME CALLING ???

Only important in your twisted prune sized brain

Ps- Pretty lame, NUTCASE~!!!
Amused Slew

Kent, WA

#28 Jan 7, 2013
In two years, holiday shoppers should be crowding the south metro's first major outlet mall for its nearly 100 brand-name stores offering deals on shoes, purses and other cut-rate goods.
The Eagan City Council this week green-lighted preliminary plans by Baltimore-based Paragon Outlet Partners for a 441,000-square-foot, open-air outlet center on 29 acres near the intersection of Cedar Avenue and Minnesota 13.
Paragon Outlets at Cedar Grove would be the closest major outlet mall to the Twin Cities and the only one within the seven-county metro area. Albertville Premium Outlets and North Branch Outlets are in the fringes of the metro area.
"It's something new, something we don't have and something that will be a regional attractor," City Council member Paul Bakken said.
The proposal calls for the stores to be situated in a "racetrack" design -- facing each other around the open-air pedestrian concourse.
The design is a new approach to outlet malls and meant to boost foot traffic, said Kelvin Antill, Paragon's development partner.
The idea is to give customers a better understanding where the shops are and the tenants a balanced circulation of shoppers, Antill said.
"The goal is to have your shoppers walk the entire route of that racetrack and then get back to where they started, so that way all the tenants get visibility," he said.
It differs from outlet malls that have parking at storefronts. Instead, parking is on the outside of the oval,
and shoppers enter the concourse area through several "gateway" areas.
Paragon has told city officials that its similar projects across the country typically have had an investment of more than $100 million, created 400 construction jobs and brought in 1,500 to 2,000 retail jobs.

This year, Paragon opened outlet malls in Grand Prairie, Texas, and Livermore, Calif., to rave reviews, Antill said.
"Both projects opened 100 percent leased, which is very rare," he said.
For the Eagan center, Paragon has said it will court many of its "retail partners" that are found at the company's other outlet malls, including Brooks Brothers Factory Store, Coach, the Children's Place, DKNY and Nike.
Even though outlet malls have been growing rapidly over the past decade, they still represent a small part of the U.S. shopping landscape, according to a study this year by Maxfield Research Inc., which was hired by Eagan to assess potential demand for additional retail in the Cedar Grove area.
There are about 325 outlet malls in the U.S., compared with 1,500 traditional shopping malls nationwide.
Mainly because of anticipated growth in the Twin Cities area, residents are expected to increase overall retail expenditures from $2.9 billion in 2014 to nearly $3.7 billion in 2020, the study said.
After looking at several factors, including location, current retail demand and other projects on the horizon, Maxfield concluded the Eagan outlet mall will "easily absorb" its proposed square footage by capturing just less than 5 percent of the potential retail sales.


The city's approval is also considered a major step in Eagan's decade-long commitment to revitalizing the Cedar Grove area.
The last big hurdle for the project -- a development agreement between the city and Paragon -- is expected to be reached around January, city officials said.
"It's a significant project," Mayor Mike Maguire said. "It's going to be significant for not only for Eagan, but I think for the south metro."
The city's EDA sold the 29 acres to Paragon in July for $14.73 million.
The company hopes to start construction this next spring, with the goal of opening the mall by November 2014.
City Council member Cyndee Fields spoke glowingly of the project at this week's meeting.
"I'm envisioning we're going to have a huge amount of traffic," she said, noting how she heard reports that shoppers were backed up on the California freeway near the Livermore mall on opening day.
non-starter

Saint Paul, MN

#29 Jan 7, 2013
Amused Slew wrote:
The city's EDA sold the 29 acres to Paragon in July for $14.73 million.
The company hopes to start construction this next spring, with the goal of opening the mall by November 2014.
City Council member Cyndee Fields spoke glowingly of the project at this week's meeting.
"I'm envisioning we're going to have a huge amount of traffic," she said, noting how she heard reports that shoppers were backed up on the California freeway near the Livermore mall on opening day.
I would hope Cyndee would speak glowingly of it, she is on the EDA, as are all of the council.

$40 million to acquire the property,$19 million more to build, operate, and run a parking ramp on 6 acres that Eagan will keep off the tax rolls for Paragon.

29 acres sold for $14.73 million, that includes $4.2 million to go towards the parking ramp that Paragon didn't want to own, operate, and be taxed on.

That leaves 10 acres of land, not 15.

The estimated property tax base increase?$84 million. The additional taxes collected? Somewhere between $1 and $1.5 million a year.

At that rate, the payback is well into the 30 year range, and that doesn't even include the interest that will be paid. I think Cedarvale was around 30 years old when Eagan decided it was dilapidated and needed to be torn down and re-developed.

Eagan may never see a dime of the increased tax revenue to use, and may have to use other general fund money to prop up the area, like Burnsville had to do with "Heart of the City".

Eagan, come for the eminent domain, stay to pay your "fair share" of the taxes to prop up the outlet mall.
Amused Slew

Kent, WA

#30 Jan 7, 2013
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"...
non-starter

Saint Paul, MN

#31 Jan 7, 2013
Amused Slew wrote:
"I'm envisioning we're going to have a huge amount of traffic," she said, noting how she heard reports that shoppers were backed up on the California freeway near the Livermore mall on opening day.
AT A GLANCE: The finances

A tax increment financing district helped attract Paragon Outlets Grand Prairie. Here’s a look at the TIF money:

The TIF is expected to use $17 million in additional tax dollars generated by the project to repay infrastructure costs.

The TIF money paid for rights-of-way, retaining walls, road construction, water and sewer lines, parking lots and other basics.

The TIF is expected to generate $1.2 million to $1.3 million annually to repay the bonds used to fund infrastructure improvements.

The outlet mall is projected to generate $2.5 million to $3 million per year in additional tax revenue for the city.

Source: City of Grand Prairie

Eagan doesn't get to collect an additional sales tax to capture more revenue. In addition, currently in Minnesota, clothing is not taxed.

Seems Paragon is using TIF to improve its balance sheet. More corporate welfare.

Simon Property Group Acquires 100% Ownership Of Upscale Outlet Centers In Grand Prairie, Texas And Livermore, California

INDIANAPOLIS, Dec.5, 2012 /PRNewswire-FirstCall/-- Simon Property Group, Inc.("Simon")(NYSE:S PG) announced today that it has completed the acquisition of Paragon Outlets Grand Prairie in Grand Prairie, Texas and Paragon Outlets Livermore Valley in Livermore, California. Simon now owns 100% of each asset.

The 417,000 square foot Grand Prairie center, serving the Dallas-Fort Worth metropolitan area, is home to more than 100 leading designer and name brand outlet stores including Saks Fifth Avenue OFF 5TH, Bloomingdale's The Outlet Store, Coach, Cole Haan, DKNY, Hugo Boss, Kate Spade New York, J.Crew, Michael Kors, Nike and Tommy Hilfiger. The center opened in August of 2012 and is 100% leased.

The 512,000 square foot Livermore center, located in the affluent East Bay area of San Francisco, is home to 130 leading designer and name brand outlet stores including Saks Fifth Avenue OFF 5TH, Bloomingdale's The Outlet Store, Last Call by Neiman Marcus, Armani, Barneys New York, Coach, DKNY, Elie Tahari, Kate Spade New York, J.Crew, Lacoste, Michael Kors, Prada and Tommy Hilfiger. The center opened in November of 2012 and is 100% leased.

Simon has assumed management responsibilities and the centers will be renamed Grand Prairie Premium Outlets® and Livermore Valley Premium Outlets®.
Amused Slew

Kent, WA

#32 Jan 7, 2013
In two years, holiday shoppers should be crowding the south metro's first major outlet mall for its nearly 100 brand-name stores offering deals on shoes, purses and other cut-rate goods.
The Eagan City Council this week green-lighted preliminary plans by Baltimore-based Paragon Outlet Partners for a 441,000-square-foot, open-air outlet center on 29 acres near the intersection of Cedar Avenue and Minnesota 13.
Paragon Outlets at Cedar Grove would be the closest major outlet mall to the Twin Cities and the only one within the seven-county metro area. Albertville Premium Outlets and North Branch Outlets are in the fringes of the metro area.
"It's something new, something we don't have and something that will be a regional attractor," City Council member Paul Bakken said.
The proposal calls for the stores to be situated in a "racetrack" design -- facing each other around the open-air pedestrian concourse.
The design is a new approach to outlet malls and meant to boost foot traffic, said Kelvin Antill, Paragon's development partner.
The idea is to give customers a better understanding where the shops are and the tenants a balanced circulation of shoppers, Antill said.
"The goal is to have your shoppers walk the entire route of that racetrack and then get back to where they started, so that way all the tenants get visibility," he said.
It differs from outlet malls that have parking at storefronts. Instead, parking is on the outside of the oval,
and shoppers enter the concourse area through several "gateway" areas.
Paragon has told city officials that its similar projects across the country typically have had an investment of more than $100 million, created 400 construction jobs and brought in 1,500 to 2,000 retail jobs.

This year, Paragon opened outlet malls in Grand Prairie, Texas, and Livermore, Calif., to rave reviews, Antill said.
"Both projects opened 100 percent leased, which is very rare," he said.
For the Eagan center, Paragon has said it will court many of its "retail partners" that are found at the company's other outlet malls, including Brooks Brothers Factory Store, Coach, the Children's Place, DKNY and Nike.
Even though outlet malls have been growing rapidly over the past decade, they still represent a small part of the U.S. shopping landscape, according to a study this year by Maxfield Research Inc., which was hired by Eagan to assess potential demand for additional retail in the Cedar Grove area.
There are about 325 outlet malls in the U.S., compared with 1,500 traditional shopping malls nationwide.
Mainly because of anticipated growth in the Twin Cities area, residents are expected to increase overall retail expenditures from $2.9 billion in 2014 to nearly $3.7 billion in 2020, the study said.
After looking at several factors, including location, current retail demand and other projects on the horizon, Maxfield concluded the Eagan outlet mall will "easily absorb" its proposed square footage by capturing just less than 5 percent of the potential retail sales.

The city's approval is also considered a major step in Eagan's decade-long commitment to revitalizing the Cedar Grove area.
The last big hurdle for the project -- a development agreement between the city and Paragon -- is expected to be reached around January, city officials said.
"It's a significant project," Mayor Mike Maguire said. "It's going to be significant for not only for Eagan, but I think for the south metro."
The city's EDA sold the 29 acres to Paragon in July for $14.73 million.
The company hopes to start construction this next spring, with the goal of opening the mall by November 2014.
City Council member Cyndee Fields spoke glowingly of the project at this week's meeting.
"I'm envisioning we're going to have a huge amount of traffic," she said, noting how she heard reports that shoppers were backed up on the California freeway near the Livermore mall on opening day.
non-starter

Saint Paul, MN

#33 Jan 7, 2013
$40 million to acquire the property,$19 million more to build, operate, and run a parking ramp on 6 acres that Eagan will keep off the tax rolls for Paragon.
29 acres sold for $14.73 million, that includes $4.2 million to go towards the parking ramp that Paragon didn't want to own, operate, and be taxed on.
That leaves 10 acres of land, not 15.
The estimated property tax base increase?$84 million. The additional taxes collected? Somewhere between $1 and $1.5 million a year.
At that rate, the payback is well into the 30 year range, and that doesn't even include the interest that will be paid. I think Cedarvale was around 30 years old when Eagan decided it was dilapidated and needed to be torn down and re-developed.
Eagan may never see a dime of the increased tax revenue to use, and may have to use other general fund money to prop up the area, like Burnsville had to do with "Heart of the City".
Eagan, come for the eminent domain, stay to pay your "fair share" of the taxes to prop up the outlet mall.
Amused Slew

Kent, WA

#34 Jan 7, 2013
Send me the difference between $1-1.5 million, as long as your making up numbers... moron. Ps- No increase in taxes in the surrounding areas I see..Oddly, with improvements like this values in the area tend to soar, except in your case.... Mobile home, right ???
non-starter

Saint Paul, MN

#35 Jan 7, 2013
Amused Slew wrote:
Send me the difference between $1-1.5 million, as long as your making up numbers... moron. Ps- No increase in taxes in the surrounding areas I see..Oddly, with improvements like this values in the area tend to soar, except in your case.... Mobile home, right ???
Really, you think residential real estate values will soar because of the corresponding increases of traffic and traffic noise in the neighborhood? How about the schools that can't touch the tax revenue reserved to pay back the TIF? Oddly, you are grasping at straws once again. This development is bounded on two sides, South and West by Hwy 13 and Cedar Avenue, so no commercial development of any size can fit in the same area. I am sure the existing businesses nearby will really appreciate their taxes increasing to pay for the TIF breaks given to Paragon.
Amused Slew

Kent, WA

#36 Jan 7, 2013
Location,. location,. location....Yeah, the values will soar, quit being such a sore head... LMAOROTFU~
non-starter

Saint Paul, MN

#37 Jan 7, 2013
Amused Slew wrote:
Location,. location,. location....Yeah, the values will soar, quit being such a sore head... LMAOROTFU~
The amount that property values around the TIF is figured into the $84 million property base increase already.
Amused Slew

Kent, WA

#38 Jan 7, 2013
The future property values are figured in ?? LMAOROTFu ~! Man, you're really reaching... Sorry, you don't understand investing.
non-starter

Saint Paul, MN

#39 Jan 7, 2013
Amused Slew wrote:
The future property values are figured in ?? LMAOROTFu ~! Man, you're really reaching... Sorry, you don't understand investing.
Did you even read the definition of TIF I posted on here from Wikipedia that you replied multiple times to mr low integrity poster? Let me post it for you a second time.

http://en.wikipedia.org/wiki/Tax_incremental_...

Tax increment financing, or TIF, is a public financing method that is used for subsidizing redevelopment, infrastructure, and other community-improvement projects in many countries, including the United States. Similar or related value capture strategies are used around the world.


If the cost of basic services increases, with TIF in place, the result is a revenue shortfall that has to be paid from sources other than tax revenues of the TIF district.
TIF is a method to use future gains in taxes to subsidize current improvements, which are projected to create the conditions for said gains. The completion of a public project often results in an increase in the value of surrounding real estate, which generates additional tax revenue. Sales-tax revenue may also increase, and jobs may be added, although these factors and their multipliers usually do not influence the structure of TIF.

When an increase in site value and private investment generates an increase in tax revenues, it is the "tax increment." Tax Increment Financing dedicates tax increments within a certain defined district to finance the debt that is issued to pay for the project. TIF is often designed to channel funding toward improvements in distressed, underdeveloped, or underutilized parts of a jurisdiction where development might otherwise not occur. TIF creates funding for public or private projects by borrowing against the future increase in these property-tax revenues.[1]

Currently, thousands of TIF districts operate nationwide in the US, from small and mid-sized cities, to the State of California. As of 2008, California had over four hundred TIF districts with an aggregate of over $10 billion per year in revenues, over $28 billion of long-term debt, and over $674 billion of assessed land valuation.[2] California, where TIF began in the United States in 1952, has currently discontinued the use of them.[3][4]

I guess it doesn't matter what other people post on here, does it mr low integrity poster, you don't read it and just respond randomly. That makes more sense.
Amused Slew

Kent, WA

#41 Jan 7, 2013
non-starter wrote:
<quoted text>
non-starter wrote:
<quoted text>I found it, you just won't publish that you got it off Yahoo or Wiki answers ....

Oh yeah, that fine standard of journalism, the urban dictionary.

Funny, I have quotes and you have your childish "interpretations"... .
non-starter

Saint Paul, MN

#42 Jan 8, 2013
Amused Slew wrote:
<quoted text>
Funny, I have quotes and you have your childish "interpretations"... .
Funny, you can't interpret or read, and when your argument is proven wrong, you deflect. mr low integrity poster, you are surely aptly named. You should change your moniker, but even without the name change, the rest of us know.
Consistent

Grantsburg, WI

#43 Jan 8, 2013
non-starter wrote:
<quoted text>Funny, you can't interpret or read, and when your argument is proven wrong, you deflect. mr low integrity poster, you are surely aptly named. You should change your moniker, but even without the name change, the rest of us know.
Please!

The problem is not posters like me who simply Bioch Slap the Seattle Sociopath and send her into a Psychotic Rage that brings out her Multiple Persona's.

The Problem is you when you attempt to engage her as if she had some value as anything more than the fertilizer she becomes when her Decrepit Body is laid to rest and her Evil Soul is banished to an eternal sewer, she "feels" accepted.

Never let the Bad One into your home.

Keep your powder dry because sadly she will not have the decency to "go alone", but will take innocents with her so that everybody can suffer as she has from Uncle Daddy.

WHY Topix has not reported her is beyond me. She is real clear in the displays of her danger as a Sociopath. The Sheeple want the Guns taken away, but here we have a clearly dangerous person that can be tracked down before she hurts others, and Topix has not reported her, and worse, keeps allowing her to post.

Do Not Feed the Animals, they are dangerous!
Consistent

Minneapolis, MN

#44 Jan 8, 2013
blah blah blah sociopath

blah blah blah defective

blah blah blah racist crap

blah blah blah Phllips vokda

blah blah blah government schools

blah blah blah extremist rant

blah blah blah demokrats

blah blah blah more vodka please

blah blah blah Uncle Daddy

blah blah blah Psychotic

blah blah blah asylum

blah blah blah gay escort

blah blah blah time to pass out now

blah blah blah damn I peed myself again
consistent

Grantsburg, WI

#45 Jan 8, 2013
Consistent wrote:
blah blah blah sociopath
blah blah blah defective
blah blah blah racist crap
blah blah blah Phllips vokda
blah blah blah government schools
blah blah blah extremist rant
blah blah blah demokrats
blah blah blah more vodka please
blah blah blah Uncle Daddy
blah blah blah Psychotic
blah blah blah asylum
blah blah blah gay escort
blah blah blah time to pass out now
blah blah blah damn I peed myself again
Slewsie,

Be careful that you do not become "locked" into your need to be me!

The Thorazine can only do so much to help you.

Also, your Bagina can only take so much Diddling as you type and post as me. It can be worn out, and then you will be stuck in the Infirmary at the Seattle West Insane Asylum!
consistent

Minneapolis, MN

#47 Jan 8, 2013
blah blah blah sheeple

blah blah blah defective

blah blah blah wingnut crap

blah blah blah Phllips vokda

blah blah blah asylum

blah blah blah extremist rant

blah blah blah demokrats

blah blah blah more vodka please

blah blah blah russians are coming

blah blah blah Psychotic

blah blah blah asylum

blah blah blah male escort

blah blah blah time to pass out now in vomit

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