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Still Waiting For The Big Payoff

Posted by: David Gest
Thanks to: David Gest
17 October 2003 - 2:00pm

City officials have invested millions of dollars in downtown St. Paul through public-private partnerships, but there’s little to show for it.

A recent study commissioned by the St. Paul Area Chamber of Commerce praises the new downtown Xcel Energy Center, where Minnesota’s National Hockey League team plays. The study contends that the public-private partnership fostered by Mayor Norm Coleman to create the arena will “pump $103 million into St. Paul’s economy this year…has created 660 full-time jobs…[and] generates $20 million in additional household income in St. Paul.” Yet at the same time, the city’s central business district is struggling with its highest office vacancy rate ever. In addition, older projects with public investment similar to the arena have failed. Can the arena perform as expected?

Full Story: This Space For Rent
Source: City Pages (Twin Cities), October 15, 2003
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These practices are also inequitable since they force non-drivers to subsidize parking costs, reduce travel options for non-drivers, and reduce housing affordability.
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