Thanks again, Terry. In my limited exposure to CM Stevenson, I've found that images of a fire-breathing nut that has been portrayed -- possibly more so in his first run -- were unreal. He has surprised me a little or a lot when I hear more from him directly. We need much more of this low-volume, direct talk across the table, as it were. I'll be catching up to your interview with Shannon Watson of Majority in the Middle.
I found a little bit concerning that CM Stevenson seems to have aligned himself with the land value tax crowd without understanding much about how commercial real estate actually works (conversation starts around 45:50). The last thing we need right now are more ill conceived pseudo reforms that don’t work and create more problems.
I'd like to improve my understanding of the land value tax. What do you mean by conversion starts around 45:50? Thank you for reading and adding your insights.
I don’t understand his obsession with getting vacant land (e.g. the car wash or the old Victoria’s Secret store) into the pool of commercial land available to rent when there is already a high vacancy rate throughout many areas of the city including and particularly Uptown. There is currently more than enough available commercial real estate for the current demand. Even if we assume land value tax (lvt) could passes into law (a big assumption) the city would need a much lower vacancy rate to really support the argument for higher lvt assessments. How do you justify significantly higher property assessments/taxes for all these commercial lots when there are already so many empty store fronts on Hennepin/Lyndale/Lake and surrounding areas not to mention downtown? If prospective business owners were lined up to get business licenses and open businesses and there was a lack of available commercial real estate it would be a different question. Also, it’s not just the high commercial vacancy rates that debase commercial land values but also the large number of businesses that are currently struggling. Are we going to raise taxes (and rents) on them too? We need to focus on creating an attractive business environment (reduce crime, regulation, and taxes) so more businesses want to come into Minneapolis before we pile on to the already high burden (taxes and regulation).
Finally, if the city can use lvt as the thin wedge to force commercial real estate owners to upgrade the use of their properties, is it unreasonable to think they might use the same tool (lvt) to force homeowners to upgrade their homes when the city thinks a given neighborhood supports higher valuations (e.g. bigger, fancier homes or higher density)? Imagine being the retired couple living in a a 1500 sq ft house in a gentrifying neighborhood and getting the same tax bill as the lot nextdoor that recently was developed into multifamily housing.
Terry, I appreciate very much your openness and willingness to do some bridge-building. Like it or not, this is our city council for the next four years. If the council member majority can realize that collaboration and compromise skills are strengths of leadership, not a weakness, maybe they can do some real good.
I didn't listen, only read, so my apologies if Soren elaborated on his comments about break-ins and auto theft. Does he have statistics to back up his beliefs that it's minors? Does he have data from research to back up his proposed solutions? His approach seems plausible, but surely there must be examples of programs that have worked either here or elsewhere to support.
It seems like we can get to the right answer much faster, much less expensively, if we pull data from other communities that have gone through the pains of learning what works and what doesn't. I want to know how much bang I'm going to get for my buck.
Also Soren, forget Cuba, forget Gaza. Focus on Minneapolis. It's what you're paid to do.
Sorry, not willing to listen. Any/ all candidates with the DSA endorsement, that voting block that is firmly entrenched in their anti police, anti privately owned property and businesses, and all manner of their anti capitalism positions, are exactly the wrong type of people that Mpls needs right now. Their activities continue to degrade this city.
Clearly a couple of classes in business, finance and commerce would be beneficial for CM Sorenson. I can't imagine any business wanting to move into a city with these goals. As for being mad at a subordinate for not keeping them apprised of finances, they should have scheduled regular meetings. It's like they want the power without the responsibility.
Thanks again, Terry. In my limited exposure to CM Stevenson, I've found that images of a fire-breathing nut that has been portrayed -- possibly more so in his first run -- were unreal. He has surprised me a little or a lot when I hear more from him directly. We need much more of this low-volume, direct talk across the table, as it were. I'll be catching up to your interview with Shannon Watson of Majority in the Middle.
I found a little bit concerning that CM Stevenson seems to have aligned himself with the land value tax crowd without understanding much about how commercial real estate actually works (conversation starts around 45:50). The last thing we need right now are more ill conceived pseudo reforms that don’t work and create more problems.
I'd like to improve my understanding of the land value tax. What do you mean by conversion starts around 45:50? Thank you for reading and adding your insights.
I don’t understand his obsession with getting vacant land (e.g. the car wash or the old Victoria’s Secret store) into the pool of commercial land available to rent when there is already a high vacancy rate throughout many areas of the city including and particularly Uptown. There is currently more than enough available commercial real estate for the current demand. Even if we assume land value tax (lvt) could passes into law (a big assumption) the city would need a much lower vacancy rate to really support the argument for higher lvt assessments. How do you justify significantly higher property assessments/taxes for all these commercial lots when there are already so many empty store fronts on Hennepin/Lyndale/Lake and surrounding areas not to mention downtown? If prospective business owners were lined up to get business licenses and open businesses and there was a lack of available commercial real estate it would be a different question. Also, it’s not just the high commercial vacancy rates that debase commercial land values but also the large number of businesses that are currently struggling. Are we going to raise taxes (and rents) on them too? We need to focus on creating an attractive business environment (reduce crime, regulation, and taxes) so more businesses want to come into Minneapolis before we pile on to the already high burden (taxes and regulation).
Finally, if the city can use lvt as the thin wedge to force commercial real estate owners to upgrade the use of their properties, is it unreasonable to think they might use the same tool (lvt) to force homeowners to upgrade their homes when the city thinks a given neighborhood supports higher valuations (e.g. bigger, fancier homes or higher density)? Imagine being the retired couple living in a a 1500 sq ft house in a gentrifying neighborhood and getting the same tax bill as the lot nextdoor that recently was developed into multifamily housing.
Conversation , a time stamp
Thank you! Haha….Terry was confused about what I was talking about and when he asked for clarification I misunderstood what he was talking about.
I’d be interested in your CRE work and expertise.
I’m not an expert in anything, least of all CRE. I’m just an opinionated old woman.
Terry, I appreciate very much your openness and willingness to do some bridge-building. Like it or not, this is our city council for the next four years. If the council member majority can realize that collaboration and compromise skills are strengths of leadership, not a weakness, maybe they can do some real good.
I didn't listen, only read, so my apologies if Soren elaborated on his comments about break-ins and auto theft. Does he have statistics to back up his beliefs that it's minors? Does he have data from research to back up his proposed solutions? His approach seems plausible, but surely there must be examples of programs that have worked either here or elsewhere to support.
It seems like we can get to the right answer much faster, much less expensively, if we pull data from other communities that have gone through the pains of learning what works and what doesn't. I want to know how much bang I'm going to get for my buck.
Also Soren, forget Cuba, forget Gaza. Focus on Minneapolis. It's what you're paid to do.
Sorry, not willing to listen. Any/ all candidates with the DSA endorsement, that voting block that is firmly entrenched in their anti police, anti privately owned property and businesses, and all manner of their anti capitalism positions, are exactly the wrong type of people that Mpls needs right now. Their activities continue to degrade this city.
Good piece in the Strib today.
Minneapolis didn't decline overnight
https://replica.startribune.com/infinity/article_popover_share.aspx?guid=fc38d567-1610-4b16-b44b-2814f64950f6&share=true
You're right about this article. I am going to see if the author is willing to join a podcast.
👍
A leadership meltdown unworthy of this great city
https://replica.startribune.com/infinity/article_popover_share.aspx?guid=19fec4c7-fcab-4fcf-9db9-b498c1b38ba9&share=true
Clearly a couple of classes in business, finance and commerce would be beneficial for CM Sorenson. I can't imagine any business wanting to move into a city with these goals. As for being mad at a subordinate for not keeping them apprised of finances, they should have scheduled regular meetings. It's like they want the power without the responsibility.