Minneapolis city committee votes to forgive $1.5 million in debt for Midtown

  • Article by: Eric Roper , Star Tribune
  • Updated: December 11, 2013 - 5:41 AM

A Minneapolis City Council committee gave an initial OK to forgive debt on a city loan to the struggling Midtown Global Market.

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workforit1Dec. 10, 13 9:33 PM

"The market is owned by two nonprofit community groups" Really, why don't they name the groups, and if the market cant survive on its own, why should the tax payers fund it? What percentage of Minneapolis tax payers actually go to the market?

minn12Dec. 10, 1310:37 PM

Just more of the same wasting of the taxpayers' money. And this failure is a 'significant achievement' of Rybak's? Like all things liberal, they think it's not failing, it just needs more taxpayer money thrown at it to work. Give me a break.

jennieleahDec. 10, 1310:55 PM

Hey Workforit1 -- A higher percentage of Minneapolis residents use the Market than attend Vikings games, so the subsidies are a bargain compared to the new stadium.

turgidDec. 10, 1311:59 PM

A good call - the midtown market is something of real value for the city. Now if only they could clawback just ONE of the 650 million dollars in city taxes we will be sending to New Jersey over the next 30 years to pay for it.

mnborn2Dec. 11, 13 5:05 AM

jennieleah- excellent point. I feel that it is a small price to pay to keep these fine businesses open, operating, and contributing to the community.

karendavid816Dec. 11, 13 5:35 AM

It would be helpful to know who actually is in charge. Two unnamed non profits doesn't give us an idea of the probable DFL connections. Now that these private businesses have had their loans forgiven, was there any credible analysis to show that the market will now work? Nicollet Avenue a few blocks away is lined with businesses run by immigrants without city loans. How do they do it?? If your signature piece of work can't work without massive subsidies maybe it wasn't that great.

TaxFreeTennDec. 11, 13 6:09 AM

Black hole filled by the "deep pockets" of poor Minneapolis residents.

raleighmamaDec. 11, 13 6:09 AM

Another one of Rybak's pet projects that the taxpayers get stuck paying for.

circleoflifeDec. 11, 13 6:30 AM

Shouldn't the tax payers be making this decision???????????????

minneg56Dec. 11, 13 6:58 AM

Rybak was not Robin Hood- he has been "Robbin' In The Hood" - Take from the middle class- and give to whomever wants a hand out (Wilfs?). This year I again will pay north of $5 large in property taxes... I've paid the equivalent (of present value) in this city for the past 35 years - good economy or bad- and not one time has any portion of my obligation been forgiven. Now- will these businesses be taxed for this 'gift' as income earned on the amount forgiven?


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