Nice Business You Got There. It’d Be A Shame If It…Broke, Or Something

Minneapolis businesses destroyed when the City failed – no, abnegated, competely – at its responsibility to deliver the public safety and order that taxpayers expect…

have to pay in advance on their taxes to clear the rubble of the businesses that the City didn’t even bother protecting with last year’s taxes:

Light leaving “moral” today won’t reach Minneapolis’s city goverment until long after Mayor McDreamy’s great-grandchildren are collecting social security.

19 thoughts on “Nice Business You Got There. It’d Be A Shame If It…Broke, Or Something

  1. The death spiral has begun. This is a good opportunity for Saint Paul and the inner ring Minneapolis suburbs to fatten themselves at the expense of Minneapolis.

  2. If you don’t pay your taxes, the city will seize your burn down wreck.

    Problem solved.

  3. Greg;
    That’s freaking brilliant, man! Forfeit the property, which isn’t worth the taxes they are being assessed for, due to the Mayor’s feckless actions, and let them clean it up. I doubt that anyone will be willing to buy those distressed properties, given their current state and the volatility of the neighborhood. Once again, Democrats are getting the rewards that they so richly deserve.

  4. If you don’t pay your taxes so you can get a permit to rebuild, the City will send clean-up crews to remove the rubble on the grounds it’s a “public health and safety hazard.” Then the city will specially assess the clean-up cost to your land as an addition to your taxes. Since you’re not paying those taxes, the state will forfeit your land for back taxes and if Minneapolis asks for it, the state will give your land to the city as part of a “targeted community” economic recovery plan to redevelop blighted areas.

    You still owe the lender on the Promissory Note that was secured by the mortgage on the land you no longer own. The lender will sue you, get a judgement against you, levy on your bank accounts, garnish your wages, seize your non-exempt assets, and eventually drive you into bankruptcy.

    Problem solved.

  5. JD is correct,
    the City of Mpls has a long history of using the combination of “public health and safety hazard” cleanups at exorbitant rates, Special assessments, tax forfeit laws and economic recovery plans in lieu of Eminent Domain to acquire properties that well connected(DFL) developers have their eye on.

    Eminent Domain requires hearings and transparency (who you are taking the land from and who you are giving it to) whereas tax forfeit property sales are never publicly scrutinized.

    Face it Mpls just wants to be sure they get their beak wet!

  6. You still owe the lender on the Promissory Note that was secured by the mortgage on the land you no longer own. The lender will sue you, get a judgement against you, levy on your bank accounts, garnish your wages, seize your non-exempt assets, and eventually drive you into bankruptcy.

    Of course…

    But Joe, you are a lawyer. 🙂

    Now tell us how to structure a business so that the bank and the city are left holding the bag.

    Okay, okay, I know I shouldn’t launch into a story, but I can’t help myself

    Back in the 80’s, I worked for The American Lutheran Church (ALC) which eventually merged with the Lutheran Church in America (LCA) to produce the people who brought us ELCA hair.

    During the kickoff meeting to merge the two pension funds, our CFO held up copies of both pension plans and turning to our consul, said, “Tell us in plain English what they say?”

    The attorney cracked a big grin and replied, “I am a lawyer, you tell me what you want them to say.”

  7. I imagine the destroyed areas will be a ghost town for a LONG time.

    The gummint (dems) and the media (birm) will call it racism.

  8. kinlaw
    the destroyed areas will become campaign finance ATMs. Every 2 years DFL politicians will point to these areas saying if they are elected they will do what is necessary to revitalize and restore the neighborhood if you only contribute to their campaign. Its a model that has worked successfully for 50 years, just drive down West Broadway, Plymouth Ave, or Floyd B Olson Hwy, many of those empty lots date back to the riots of the late 60s.

  9. Sorry, Greg, I’m not a wizard of finance, I’m just a bureaucrat. I suspect it can be done, if at all, by getting the City to fund the project. That’s how the Vikings and soccer stadium did it.

  10. I doubt that anyone will be willing to buy those distressed properties, given their current state and the volatility of the neighborhood.

    I disagree. From my post on an earlier thread – follow the money. These will be snapped up very quickly and as JD pointed out end up in the hands of the people responsible for their destruction. Nifty, eh?

  11. And after the City gets the land, it sells to a do-gooder organization like Habitat for Humanity which builds housing funded by donations from woke corporations and grants of taxpayer money from people who can’t afford to move out of the city, then sells the new housing at a discount to people who can’t afford to live in it.

    The second wave is coming . . . .

  12. JD, you forgot to mention that new taxes will be levied on burbs to support the poor unfortunate in the city. Impoverishing burb denizens and driving them out of the metroplex or the state altogether. Or making them move to the city to become goobernment’s chattel. All according to plan.

  13. I am a little confused. Property taxes are based on the assessed value. How much value does a burned down building have? It seems to me these property owners have been paying taxes for police and fire protection. At the point the Mayor told everyone to stand down and let the rioters do what they want the city became responsible for making these people whole.

  14. Property taxes lag by a year. In 2019, your house was assessed at $250,000 so in 2020, that’s the value used for taxes. If you don’t agree with it, you must challenge that valuation in 2019, when assessed.

    If your house burns during 2020, you still owe the 2020 taxes. Plus the special assessment for removing the debris which, for an ordinary vacant house in St. Paul, runs around $20,000.

    That leaves you with a bare lot worth $40,000 encumbered by $40,000 taxes and assessments, and a Promissory Note to the bank for $250,000.

    There is a long string of cases saying government has NO legal obligation to provide police or fire protection and its failure to do so does not entitle the resident to be made whole.

  15. All true. Funny how that long string of cases before a government court would come to such a conclusion.

  16. Forgot to mention from way before because I was so shocked by this whole fiasco that what doubled my shock was the utter incompetence exhibited by the city of Mpls. I mean, that picture is of the owner of the (ex-)Uncle Hugos bookstore who *did* pay his taxes so as to get a building permit and still has not received it.

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