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."
FULL STORY: Council OKs city ramps sale for $88 million
Manufactured Crisis: Losing the Nation’s Largest Source of Unsubsidized Affordable Housing
Manufactured housing communities have long been an affordable housing option for millions of people living in the U.S., but that affordability is disappearing rapidly. How did we get here?
Americans May Be Stuck — But Why?
Americans are moving a lot less than they once did, and that is a problem. While Yoni Applebaum, in his highly-publicized article Stuck, gets the reasons badly wrong, it's still important to ask: why are we moving so much less than before?
Using Old Oil and Gas Wells for Green Energy Storage
Penn State researchers have found that repurposing abandoned oil and gas wells for geothermal-assisted compressed-air energy storage can boost efficiency, reduce environmental risks, and support clean energy and job transitions.
Minneapolis Bans Rent-Setting Software
Four cities have enacted restrictions on algorithmic software that can inflate rent costs.
Oakland to Add 244 New EV Chargers
Oakland plans to launch its new charging network at eight locations by the end of 2025.
Jane Goodall Inspires with Message of Hope, Resilience, and Environmental Action
Speaking in Pasadena, Jane Goodall offered a hopeful and inspirational message, urging global compassion, environmental responsibility, and the power of individual action to shape a better future.
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