consultants are sandburs

Wednesday, June 01, 2016

Glen Taylor's Strib again does an amazing thing. An entire online article on IRS tax-free bonding reform proposals wthout mention of Pohlads-Twins, or Wilfare.

Nor is it pointed out that Met Council has an entirely appointed governing structure, along with a host of planners pushing Comp. Plan welfare for local planners; and what might Glen Taylor want for the arena his Timberwolves and Lynx play in, and how would he envision it being financed?

This link. From a mid-item paragraph:

The regulations would rewrite the rules for bond issuers, including a new requirement that elected officials must exercise significant control over the agency issuing bonds. That would restrict or eliminate the ability of appointed or semi-independent economic development authorities to issue bonds.

Another change would allow the use of tax-exempt bonds only if the project provides no more than “an incidental benefit” to a private entity. That could rule out using tax-exempt bonds to finance items such as parking decks at the Mall of America.

It still bristles to recall a Ramsey parking ramp expansion financed from public monies for the economic benefit and well being of David Flaherty and his rental development in Town Center. Does Ramsey need another parking ramp and a community center to push further private-sector Town Center investment, with citizens from all over the town having to pay for yet more Town Center perks? Is the IRS proposal a good thing for good and responsible government? Or an intrusion into how local entities play with toys such as EDAs, HRAs, and Port Authorities.

Part of that Strib item reports a viewpoint expressed by the head of the Bloomington Port Authority.

Does Bloomington have a port? Have you ever heard of one? Ramsey at one point might have instigated a town port authority, Without any port, of course. James Norman during his tenure as town administrator wanted one, but good elected people on council then kept that thought from implementation. May the town's future be as good; and may the Town Center sink or swim on its merit and without further taxpayer subsidy.

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