By ERIC ROPER ,
Star Tribune

Outgoing Minneapolis Mayor R.T. Rybak is seeking nearly $1.8 million in city funds and loan forgiveness to rescue one of his administration’s signature projects: the Midtown Global Market.

The privately owned marketplace on the ground floor of the Midtown Exchange building has grown popular as a bustling hub of multiethnic eateries since it opened in 2006. But it has been plagued by annual deficits, which have been covered in recent years by fundraising that has begun to dry up.

In the coming weeks, the City Council will consider whether to give the market $185,000 to support market operations and $85,000 to subsidize free parking and to forgive about $1.5 million in outstanding debts to the city.

“I need all of your help to call your council members and say we need continued support for the global market,” Rybak told a crowd earlier this month.

But some City Council members are opposed, questioning why the city would bail out one private business and subsidize parking.

“I find this to be absolutely outrageous,” Council Member Lisa Goodman said at a budget presentation this fall. “There are plenty of good organizations in town that have a public purpose [and] we do not fund their operations.”

The redevelopment of the former Sears building into apartments and a corporate home for Allina Hospitals was one of the few major project subsidies of the Rybak administration, totaling about $30 million. The market, which benefited from more than $2 million in city loans, now draws more than 1.2 million people a year.

The city’s top development official, Jeremy Hanson Willis, warned at a budget meeting in September that without city support “there will not be a Midtown Global Market or the Midtown Global Market that exists will be dramatically different from [what] it is today.”

The market’s chief manager, Mike Temali, says things are not quite that dire. Temali works at the Neighborhood Development Center, one of two nonprofit community groups that own the market.

“If we don’t get it from the city, I don’t have any idea where we will get it,” he said Monday. “But on the other hand, we are survivors and the businesses in there are survivors and the customer base is highly dedicated. We will keep doing everything possible to figure it out.”

Read more

Source : Star Tribune