“New Richmond Land Rush’ is on
August 25, 2011 at 4:57 am in New Richmond News
Like the land rush that helped build up the American wild west, New Richmond is poised to open up the flood gates of development over the next few years.
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So who pays for the costs if they’re waiving impact and other fees? Applebee’s wanted to build here, then they tried slapping a per seat tax on them and chased them away. People and businesses won’t build until the economy picks up…and when it does, it could still take years to spur growth.
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Why would people buy a lot to build a new home when hundreds of existing homes are empty and for sale at much lower prices?
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Here’s a better question. Why would ANYBODY build in New Richmond? The elected on the city council and school board have dug that city into such a deep hole that anyone with brains having money to build with would know to steer clear of that area. Both the city council and the school district decided to play Texas Hold’em by going “all in” with their credit limit and they lost. Now those living there will pay the penalty through property taxes.
If I were going to put up a business with the hope of getting out of debt and making a profit someday, I’m going to build it where people have money to spend. Given the property taxes, the community debt and the number of properties listed as tax delinquent, it’s obvious New Richmond isn’t the wisest place to go. Maybe the reason no building permits have been requested is due to no bank being willing to float the loan after they do their background check.
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