By leasing some of its publicly-owned parking facilities to private developers, the city of Minneapolis is taking a large chunk out of its debt and creating a new stream of tax revenue.
"Minneapolis will shed eight of the 24 parking ramps it operates under the $88.2 million deal."
"The sale allows the city to retire about one-third of the debt on its parking facilities, and strengthen its cash flow on the remaining ramps, according to projections. The privately held ramps would generate an estimated $3.4 million in property taxes annually."
"More property taxes would come from the development that two of the buyers are required to generate at three of the ramps, paying penalties if they don't. The required development at the Downtown East, St. Anthony and Seven Corners ramps totals almost $33 million."
Read the full story: Council OKs city ramps sale for $88 million
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Data reveals that NYC’s bet on congestion pricing has paid off
After almost two years of the program, reports show positive impacts on traffic and air quality and no disruptions to parking.
HUD modernizes 50-year-old manufactured housing framework
The Next Generation Manufactured Housing Action Plan establishes new energy-efficiency standards for manufactured homes, and new guidelines for anchoring them.
California voters weigh $11.25 billion housing bond
Prop. 1, combined with other funding, would support over 40,000 new rental units in California.
Connecticut is turning landfills into green infrastructure
Twenty-nine solar arrays have been built, or approved to be built, on top of Connecticut landfills.
Trump guts ‘win-win’ solar energy program for rural farmers
The U.S. Department of Agriculture’s changes have made virtually all solar power ineligible for funding through the Rural Energy for America Program.
FREE Course: Walkable City 1: Why Walkability?
After describing his path towards focusing on walkability as the essence of good planning, Jeff Speck marches through his five principal reasons for making more walkable places.
Reinventing Malls: Planning Alchemy—Turning Gray Fields Into Gold
The course focuses on the opportunities and imperatives that shape reinvention of mall sites.
One Hundred Miles
County of Mendocino
planning NEXT
The Architects Foundation
University of Cincinnati Online
Montrose County
Northern Illinois Transit Authority (NITA)
The Pocatello Development Authority