Bingo. Squeeze the remaining taxpayers, individuals and corporations. Higher taxes, more fees of all sorts. Then look all surprised when they flee the city.
Posted on 02/01/2025 8:36:19 AM PST by Rummyfan
From the world of commercial real estate, this shocking news:
Minnetonka-based Onward Investors purchased the 31-story Ameriprise Financial Center at a big discount, adding to its growing portfolio of downtown Minneapolis office buildings.
The firm paid $6.25 million in cash for the property at 707 S. Second Av., according to sources familiar with the deal. The building last sold in 2016 for $200 million.
So that represents a 97% decline in market value since 2016. The prior owners handed the keys back to their lender in 2023. This is a nice, new building in the heart of downtown Minneapolis, but it is now vacant...
In related news, Minneapolis Mayor Jacob Frey has announced that he will run for a third term. I am not sure why: Frey presided over the disastrous George Floyd riots, although, to be fair, he didn’t perform as badly as Governor Tim Walz. Now the commercial tax base in Minneapolis has dried up–that’s what happens when the value of commercial real estate declines by 97%–and it is hard to see how the city will finance itself going forward.
(Excerpt) Read more at powerlineblog.com ...
I’ll add it to the things I pretend to care about
That firm paid about $6 million dollars too much for a white elephant.
Prince and Kirby Puckett.
That’s unbelievable!!!
Maybe they can use it for organizing.
I saw Morris Day and the Time in the fall.
I’m hard to impress. That was a great show!!!
Isn’t Minneapolis where the Black Muslim cop shot the innocent white lady from Australia and was sentenced to less than 5 years in prison and has been back out on the streets for over a year now after this cold blooding shooting.
A city where it’s not safe to be white.
They all need to purify themselves in the waters of Lake Minnetonka....and never come back up.
Article:
“value of commercial real estate declines by 97%”
This is what Democrat “progress” looks like...
The Purple People Eaters
How to finance = raise taxes on those that are left.
Everything the left touches turns to Dorkbamastuff. It is an ironclad rule that never has, and never will, be proved wrong. The left is the enemy. Treat them as such.
Well I saw the thing comin’ out of the sky
It had the one long horn, and one big eye
I commenced to shakin’ and I said “Ooh-eee”
It looks like a purple people eater to me
It was a one-eyed, one-horned, flyin’ purple people eater
(One-eyed, one-horned, flyin’ purple people eater)
A one-eyed, one-horned, flyin’ purple people eater
Sure looks strange to me (one eye?)
Well he came down to earth and he laid in the tree
I said Mr. Purple People Eater, don’t eat me
I heard him say in a voice so gruff
“I wouldn’t eat you ‘cause you’re so tough”
It was a one-eyed, one-horned, flyin’ purple people eater
One-eyed, one-horned flyin’ purple people eater
One-eyed, one-horned, flyin’ purple people eater
Sure looks strange to me (one horn?)
I said Mr. Purple People Eater, what’s your line?
And he said, “Eatin’ purple people and it sure is fine”
But that’s not the reason that I came to land
“I wanna get a job in a rock and roll band”
Well bless my soul, rock and roll, flyin’ purple people eater
Pigeon-toed, undergrowed, flyin’ purple people eater
(We wear short shorts)
Friendly little people eater
What a sight to see
And then he swung from the tree and he laid on the ground
And he started to rock, really rockin’ around
It was a crazy ditty with a swingin’ tune
“Sing a bop-bop aboopa-lopa, loom bam-boom”
Well bless my soul, rock and roll, flyin’ purple people eater
Pigeon-toed, undergrowed, flyin’ purple people eater
“I like short shorts”
Flyin’ purple people eater
Quite a sight to see (purple people?)
Well he went on his way, and then what do ya know
I saw him last night on a TV show
He was blowing it out, a-really knockin’ em dead
Playin’ rock and roll music through the horn in his head
Really. I heard that anyone walking down the streets at night should first watch some old tape of Fran Tarkenton ducking incoming pass rushers.
At the right prices, things work again. I suspect it cashflows for them on day one. They have everything lined up.
Bingo. Squeeze the remaining taxpayers, individuals and corporations. Higher taxes, more fees of all sorts. Then look all surprised when they flee the city.
Rather than dealing with the city’s profound and possibly insoluble problems, Minneapolis’s City Council has just collaborated in an attempt to subject its police department to supervision by the Department of Justice, which, if approved–a big “if”–will subject law enforcement to more limitations that will further elevate the city’s crime rate. Like a number of other blue cities, Minneapolis needs a drastic change in leadership, but there is no sign that such reform is on the horizon.
I think the city is in a death spiral and confirms that local elections are important. Is it just me, or do most of the cities that are in trouble all seem to have Democrat mayors?
So how will the city run its bloated, woke bureaucracy? yes, Higher taxes - but then citizens will flee.
So they will get state aid, and above all, rely on Federal aid. This is what Congressional democrat "stimulus" and various omnibus bills are all about - constantly funding and bailing out their left-wing political bases, with printed money and massive debt.
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