2004-02-11 CC Meeting - Laserfiche WebLink

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Message Page 1 of2 Kim Moore-Sykes From: Kim Moore-Sykes [ksykes@centervillemn.com] Sent: Friday, January 30, 2004 4:02 PM To: Tom lee (tom@noltec.com); Jeff Paar (indyjp1@aoLcom); Linda Broussard Vickers (Ibroussardvickers@earthlink.net); Mary Capra (capria@comcastnet); Terry Sweeney (terry@sweeneyconstruction.biz) Cc: Tom Peterson (tpeterson@bonestroo.com) This was sent to City Hall by Tom Lee. Mr. Okan had sent i1to him and he sent it on to us this afternoon. Very good to hear (or read) some positive comments. Kim >>> <KOkan@csom.umn.edu> 01/30/04 08:32AM >>> I attended last nights meeting and I think for the most part it was productive. I do have a few thoughts however. As you can see below I work at the Carlson School of Management in the Departments of Accounting and Finance. It is a privilege to work with some of the great minds of the financial world. One thing that I have learned is everything is an investment and you have to determine what you are getting in return for spending your money. Buy a new truck, you lose money the moment you put in the key, hopefully your returns will come from usage of the vehicle. When I crunch the numbers i1looks to me that in the past 5 years my investment in housing has gained nearly 70%, my taxes have gone up 25-40% according to one member of the audience. The new improvements are about a 5% expense on my investment, but they have a potential to raise my return far more than that. So right now I am looking at about approximately 40% increase in retum on my investment in the last 5 years. Not only that, but the city of Centerville is going to offset some of the costs of this improvement and not raise my taxes? DAMN! You guys are good, very good. If anything I would ask that if at all possible the city should do more. Can we please get sidewalks on Center Street? It would give a much more finished look to the area, add value at a relatively small cost and make the neighborhood safer to move about. If those same people that are complaining about the costs would have put their money in a mutual fund or in stocks, chances are they wouldn't have come close to that kind of return. Beyond the money issue, it makes our neighborhood better, and should give the residents a better feeling for updating their own properties. If any of the residents of my street want to know what they are getting from city govemment, they only have to look at the price of the homes on their street. Currently there is a house for sale that is going for $239,000. Six months ago that same house was for sale at $190,000. That is incredible to me. Maybe the guy doing his budget at the kitchen table who is trying to scare residents with thoughts of a mass exodus. Should buy himself a desk, get a computer and read what's going on around him. He would probably sell his house and take his princely profits with him. Thank you again to all of you and your hard work. You are doing a splendid job, regardless of what a few said last night. I will not only vote for all of you, if you need help (web page, desktop publishing, etc...) feel free to ask me. I can't begin to tell you how flattered I was that you remembered in your plans our pleas a few years ago with our drainage issues. Sincerely, Keith Okan Departments of Accounting & Finance Carlson School of Management 2/5/2004