make WWAY your homepage  Become a fan on facebook  Follow us on twitter  Receive RSS Newsfeeds  MEMBERS: Register | Login

Government 101

I believe you to be a pro stadium troll looking to start a fight.
It is NOT up to the citizenry to generate economic development ideas. Some of us with an entrepreneurial spirit, and business sense will do this privately.
In spite of how I feel about Chuck Schoninger it is guys like him that buy properties and get investors together to fund things like hotels, marina's and stores to build on properties he's got.
It is NOT the function of government to actually do this but to ENCOURAGE this type of activity.
That said - why not develop shops with residents living above them like Sawmill proposed IF the stadium had passed? Repopulating down town should be a priority for the city and river front condo's would provide a great deal of property taxes to "line our pockets" with. If you put people and shops together with walking traffic you have? Yeah increased sales tax revenues.

The stadium WAS a basis for complaining because it was taking OUR money, a LOT of it, for use to build a building by which a private enterprise would use for profit. The economic benefit was questionable but the city got NO stadium revenues.
In other words it was a $54M cost with no guarantee of success and no negotiated stadium revenues. We were to so called benefit from some are wide economic impact that was determined using fuzzy math. Mandalay was guaranteed a stream of revenues - we were not.
Most people, when faced with investment decisions using their own money, become very conservative. This explains the popularity of US government savings bonds in years past.
When other peoples money is used it's easy to take more risk because you don't hurt personally from the failure of that investment.

This was a very bad deal for the city.
But for the developers? They will continue seeking out uses for their property, but I suspect that for a down town such as ours, that a mixed use retail residential building (al la Mayfaire) is the most desirable use. Great river views for residents along with shops and restaurants nearby to eat at.

Vog

Reply

The content of this field is kept private and will not be shown publicly.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

More information about formatting options

To prevent automated spam submissions leave this field empty.
CAPTCHA
Please re-enter the code shown in the image below.