Cratter

Backyard Pyrotechnics is my latest thing to do (near) Grand Forks. The biggest youtuber in the industry "CodyB" lives in North Dakota. Seen a few UND flags and shirts in his videos.

Here's the link for anyone interested. https://www.tax.nd.gov/news/tax-commissioner-reports-modest-gain-2024-fourth-quarter-collections

I stumbled across this nugget from tax commissioners office: This means Fargo's taxable sales and purchases dropped over six times more than Grand Forks’ during Q4 2024 compared to Q4 2023.

"Cratter can you play the other side?" Sure. Property tax? Where's that money go? Biggest portion: public schools. Which is a valid concern and why the schools. Said "no way jose we love money." The only way you'll pay more is if the city decides to increase the "mill rate" (Besides naturally raising property values). Which is unlikely, because ND state and local governments seem to be lowering them. A good trivia question would be "When is the last time Grand Forks increased the mill rate?" People complain about property tax breaks but then vote to increase their own sales tax constantly in Grand Forks. 🫣

Which begs the "question," Megan Ashley Pierce (MAP Fitness) Really needs to step up her city council game.

The poker table buy in is $10 million minimum. The more you invest the bigger discount/perks you get. This guy gets comped a soda: This guy gets comped a penthouse suite:

Ok good to know. We can use this data to answer Blackhearts question then,....the original point: it'll likely be 90% to 100% full before it opens or right afterwards.

I love this thread. Hop in the "way back machine" To see: "Grand Forks very slow growth.....we dont need to build so many new apartments." *digs deep* "Holy crap. Grand Forks has a very low vacancy rate and apartments growth hasnt been keeping up with demand; we need to built a lot more!"

Lol..ok here a more expanded answer...in this scenario its a new building, its 80% full after only being open x amount of time.....which gives them an "estimated capacity fill rate"...they dont start planning the next one at 100% full. And in this virtual scenario, at 80% gives them enough green light data... Of course a lot of factors into "fill rate." And "80%" in a vacuum means squat. "We kept prices high earlier because we figured we could always lower them later to fill it."

Indeed, its a poker game. Your city could have a unemployment rate of 10%, doesnt mean a new factory will build in your city without tax incentives. These programs across the country in similar sized towns get approved about 70 to 90% of the time. If your city only has one, two, three (We all just lost Epic) major developers building in your city, are you going to take a risk losing them? When the nearby town will gladly approve that major project that will take the bulk of their capital, planning, and time for the next three to five years?

Yeah also color me shocked a golf simulator owner is against a year round "Top Golf style." Which nearly every Grand Forks resident would love to have.

"Branding theater" "Wholesale prices"

If history tells us anything, probably pretty fast. Northridge has decades of knowledge in Grand Forks housing market. Its a pretty simple formula: build apartments. See how quickly it fills up based on rates, amenities. Ok its 80% full. Build a new one or two. Grand Forks is lucky to have them.

I don't believe its TIF. Just the normal, "if you spend and risk millions building this massive structure in our city, creating jobs, increasing available housing....we'll give you a break on your property tax bill." Its the same program cities use all over the country, including West Fargo, that advertise it on their website screaming "Come develop here!"