submitted by gilmerje@augsburg.edu
EPNI’s Board and Staff, along with community leaders from East Phillips and Little Earth, met with officials from the Minneapolis Department of Community Planning & Economic Development to ask for a fair price in updated terms of the purchase of agreement for the former Roof Depot site given the loss of $5.7 million in anticipated state funding.
EPNI asked the City to accept $10.2 million already secured as the final purchase price for the real estate (which is appraised at $3.7 million) rather than the original agreement which required $15.9 million to purchase the building. $10.2 million is a more-than-fair price to compensate the City for its original purchase of the site in 2016, and even repays a significant portion of the costs sunk into its failed, environmentally harmful plans for the property.
This morning, City officials assured representatives of East Phillips that they will not exercise the right to terminate the deal on July 1st – that they will take EPNI’s proposal to the Mayor’s Office to find a solution ahead of the September 15th closing date. Now more than ever, the City’s elected officials need to hear from you that East Phillips deserves follow-through, not setbacks. Please continue calling your Council Member and the Mayor, and request that they agree to sell to EPNI for a fair price.
Let your Minneapolis City Officials know that this $5.7 million burden which was supposed to be supported by the State should not fall on East Phillips.
Information and directions for contacting elected officials!