Friday, June 04, 2004
More Subsidized Development in Minneapolis...
Former Sears Site Set for Redevelopment
This article in Minneapolis's left-wing alternative newspaper "The Pulse" highlights the huge public subsidies going into the redevelopment of the historic Sears building on Lake Street located in a blighted city neighborhood. The public is contributing $70 million in everything from historic tax credits to empowerment zone grants while the private construction company which will take ownership of the building is contributing $9 million. The building will be worth an estimated $170 million when all the renovations are complete...
This article in Minneapolis's left-wing alternative newspaper "The Pulse" highlights the huge public subsidies going into the redevelopment of the historic Sears building on Lake Street located in a blighted city neighborhood. The public is contributing $70 million in everything from historic tax credits to empowerment zone grants while the private construction company which will take ownership of the building is contributing $9 million. The building will be worth an estimated $170 million when all the renovations are complete...
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