Politics & Government
Future Developers to Pay Premium for Parks
$1,500 per residential unit will go to improve parks.
The City of Minneapolis is set to join its suburban neighbors in charging real estate developers a fee to help support city parks, according to the Star Tribune.
The city will charge $1,500 per residential unit or $200 per new employee at a commercial development, following the theory that parks will need to be improved and maintained to support the residents and workers developers bring into the city
As numerous successful and failed projects in recent years have Southwest Minneapolis, the area has the potential to attract residential development as baby boomers age and seek to downsize their dwellings while remaining in the community.
Developers have complained the fees are a burden and a deterrent.
Read the rest at StarTribune.com
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