While the new regs for contractors certainly make sense, the Council through the Planning and Zoning Committee is making a huge mistake by not addressing the conflicts between the old, established, relatively low-taxed residential homeowners in SW Mpls versus the enormous amount of money that new wealthier residents are putting into tear-down followed by new-construction megabuildings in those existing neighborhoods.
Residents who have been in SW for a long time are now wanting to remain in their homes while they age, or are new, less wealthy buyers of those older, smaller homes who can’t afford property tax increases on top of their already hefty mortgage.
So it’s up to the Council to figure out a way to do a carve-out for these older and younger SW residents so that their property taxes don’tfforce them out of their homes or make living there unaffordable. The SW Journal has reported its take on contractor-regulations, but it hasn’t yet addressed the need for the Council to implement property taxation fairness for those who cannot afford the tax rates that are the result of this new megaconstruction in desirable SW neighborhoods. Where is the pressure to bear on the Council to protect the less wealthy and the aged?