Photo Courtesy: Ryan Companies
ST. PAUL, Minn. (AP) - A developer is seeking more than $107 million in public financing to redevelop the vacant Ford plant site in St. Paul.
Executives of Minneapolis-based Ryan Cos. say the public investment is needed to achieve a "bold master plan" for the 122-acre site.
The money would go toward infrastructure, green space and 760 units of affordable housing.
St. Paul's Housing and Redevelopment Authority revealed Friday that Ryan had asked for $107 million in public subsidy.
The St. Paul Pioneer Press reports that figure would be the equivalent of taking an entire year of general fund property taxes from every property owner in the city.
City Council member Chris Tolbert says the request starts the process, and the amount could be amended.
Ford stopped making vehicles at the site a decade ago.