consultants are sandburs

Wednesday, August 13, 2014

Flaherty

Someone mentioned a web statement that Flaherty's rental building is presently 80% occupied.

Short term success, together with long term uncertainty, were predictable given the present rental market where supply and demand are out of balance. More rental is being built, and when the market swings, will Flaherty's site suffer? For now, it is only a guess.

Remaining, however, is the basic question of the role and suitable constraints on government subsidization of developers; and the question of the wisdom or folly of TIF, where income to the city from tax base growth is delayed, with existing Ramsey residents bearing the burden of higher property taxes as a result.

These are questions impacting greatly on the future of Ramsey, and independent of that, they are questions of the due scope of local government power.

Reader help: Which founding father said the government is best that governs the least?

I could google it, the quote, but it is an interesting experiment to see if any reader cares to answer.

Perhaps Reflections in Ramsey will publish the answer.

2 comments:

Ryan said...

Sounds like the Flaherty building is on the market? Assume the city get's paid back early if the complex is sold..

eric zaetsch said...

Ryan, assume anything you'd like. The word I would use is "hope." I have not gone over every detail of the detail heavy paperwork on the deal; but I think the legal help, both sides, got paid by the word.