WINNER: 2018 NNPA MERIT AWARDS: 3RD PLACE BES T COLUMN WRITING
W I N N E R : 2 0 1 8 G E N E R A L R E P O R T I N G , 1 st P L A C E , C O L U M N W R I T I N G , 2 nd P L A C E
Insight News November 5, 2018 - November 11, 2018
Vol. 45 No. 45• The Journal For Community News, Business & The Arts • insightnews.com
Running on a plan, not fear By Harry Colbert, Jr. Managing Editor harry@insightnews.com
Harry Colbert, Jr.
Billionaire philanthropist Michael Bloomberg (center) with mayors of Minneapolis and St. Paul, Jacob Frey (right) and Melvin Carter (left).
Bloomberg awards Minneapolis, St. Paul get $2.5 million each
Fighting climate change By Harry Colbert, Jr. Managing Editor harry@insightnews.com Minneapolis and St. Paul are national leaders when it comes to combating climate change. That was the message sent when billionaire philanthropist Michael Bloomberg came to the area to award the two cities $2.5 million each to continue efforts to combat climate change and champion environmental stewardship. Bloomberg, the United Nations’ special envoy for climate action, came to the Twin Cities this past Monday (Oct. 29) to personally award Mayors Jacob Frey (Minneapolis)
and Melvin Carter (St. Paul) the grants. Bloomberg Philanthropies announced Minneapolis and St. Paul as winning cities in the Bloomberg American Cities Climate Challenge. The Bloomberg American Cities Climate Challenge is a $70 million program that will accelerate 20 cities’ efforts to tackle climate change and promote a sustainable future for residents. The first nine cities were announced during the press conference. Bloomberg said fighting climate change has to start at the local level. “And mayors are leading the way on a lot of issues, especially climate change,” said Bloomberg, speaking outside, next to the Mill City Museum in downtown Minneapolis – site
to the former flour processing plant, Washburn A Mill. “Mayors understand curtailing carbon emissions is good for the environment, but ultimately good for their cities because fighting climate change and growing the economy go handin-hand.” The two mayors agreed, direction on this issue needs to come from the city level. “In a time of a severe lack of leadership from the highest levels of our government, and divisive rhetoric meant to divide us, cities across our nation find themselves in a critical moment,” said Carter. “With our growing national division, we must be champions of local unity. St. Paul plans to use this support to further prepare for the im-
pact of climate change through measurable carbon reductions and Bloomberg Philanthropies will work the city to achieve the following actions by 2020.” Bloomberg, the former mayor of New York and a possible contender for president in 2020, also called out the Trump administration for what he termed as a dereliction of duties in the arena of climate change. He pointed to Trump’s announcement that the U.S. would pull out of the Paris agreement on climate change. Bloomberg said prior to pulling out, the U.S. had financial obligations – obligations that Bloomberg and others in the private sector have agreed to pay.
BLOOMBERG 8
Emerging market investing for undervalued, overlooked communities
Building dreams, opportunity Minnesota Opportunity Zone Advisors (MN-OZA) has launched the D.R.E.A.M. Fund, an Opportunity Fund focused on Minnesota Opportunity Zones. Investors can benefit from the federal tax incentives afforded such Opportunity Funds under the recently enacted Invest in Opportunities Act. The D.R.E.A.M. Fund (Developing Real Estate in Emerging Areas of Minnesota) is focused on eligible real estate investments (new developments and substantial rehabilitation) within the Minneapolis-St. Paul metropolitan area Opportunity Zones and those in larger communities across Minnesota. There were 128 zones identified by Gov. Mark Dayton and now certified by the U.S. Treasury Department, the administrator of the tax incentive-based program. The D.R.E.A.M. Fund sponsor is organized as a Statutory Benefit, LLC and has a stated social mission and ongoing reporting obligations. The fund’s mission is to enhance the social, environmental and economic vitality of Minnesota through its projects. “Opportunity Zones offer a form of emerging market investing that taps overlooked and undervalued communities to unlock their full potential,” said Ravi Norman, a MN-OZA partner. “We see this unleashing enormous productivity to help Amer-
Equity and inclusion are at the core of Rep. Tim Walz’ campaign for governor and he’s not afraid to tell it to any audience listening. With a little more than a week to go before final ballots are cast in the Nov. 6 general election, Walz is spreading his message of inclusion in places near and far throughout the state. On his way to International Falls, Walz sat for a phone interview with Insight News to talk about his plans for inclusion if elected governor. The DFL candidate said it was his desire for inclusion that guided his pick for a running mate. “Minnesota’s future – both economically and morally – is going to depend on us getting this equity piece right,” said Walz. “It (being inclusive) played a role in picking (Rep.) Peggy Flanagan, an Indigenous woman as my running mate. I recognize that as a white male I come to the table with certain perspectives and experiences and we need others to be at the table with their perspectives and experiences. For instance, we do a wonderful job in this state of educating our children if they are white, but not so much for those who are Black, Brown or Indigenous. So we’ve got to focus on hiring teachers of color. Seventy percent of our future workforce is going to come from communities of color, and our future is going to rely on the fact that we educate every child.” Walz said the state’s future is interconnected regardless of geography. “As goes North Minneapolis, so goes International Falls,” said Walz. In 2016, with nearly 3 million ballots cast in the general election in Minnesota,
Rep. Tim Walz Governor Hillary Clinton narrowly carried the state in her presidential bid against Donald Trump, winning by a less than 44,000 vote margin. Those results seemed to indicate a shift in the ideology of voters in the state, but Walz said Trump voters were sold a bill of goods and those votes will not likely transfer over to his opponent, Jeff Johnson, who has closely associated himself with the president. “Many people (who voted for Trump) have the right to be upset because wages are stagnant, and they are not getting ahead. They are upset; and they should be upset at people like Donald Trump,” said Walz. “We’ve had two years to see that what Trump pushed was empty rhetoric and wealthy tax cuts did not help the middle class.” Being in the home stretch of the election, Walz said he is focusing on issues while his opponent peddles in fearmongering, pointing out a billboard ad in rotation off of Interstate-394 and Highway
WALZ 8
Dr. Sharon R. Glover remembered
Jamie Stolpestad
Ravi Norman
Loren Schirber
ica realize its greatest gains. The D.R.E.A.M. Fund’s name reflects our purpose and the aspirations of people, families and neighborhoods to create places that empower healthy communities.” “We see the world through the same lens, and aspire to advance social, environmental and economic impact in Minnesota’s Opportunity Zone communities,” said partner Jamie Stolpestad. “We expect the greatest investor interest coming from those who prefer to invest locally and want to put their money where their heart is.” D.R.E.A.M. Fund partner Loren Schirber said, “We are experienced with how to con-
nect people, place and space, but we are also focused on building wealth in the community and executing through a local vendor and supply chain that can build skills and capacity in Opportunity Zone communities.” The U.S. Treasury Secretary recently predicted that $100 billion would flow into Opportunity Zone Opportunity Funds. The D.R.E.A.M. Fund seeks to raise $100 million of total capital to deploy into projects state-wide. Under the Invest in Opportunities Act and recent Treasury and IRS guidance issued Oct. 19, investors who sell appreciated assets may roll over the gain from such sales
to a qualified Opportunity Fund within 180 days and defer Federal capital gains tax until 2026. In addition, gains from the Opportunity Fund are free of federal capital gains tax if the investment is held for at least 10-years. “There are very real time constraints under the Invest in Opportunities Act,” says Stolpestad. “We have been working for months and are excited that the detailed U.S. Treasury regulations have been issued so we can finalize the selection and underwriting of specific projects. And we can now talk with prospective investors with greater clarity from the new regulatory guidance,” he added.
News
Republicans change the script and now support Obamacare
PAGE 4
Sharon R. Glover, 78, passed away on Sept. 21. At the age 15, Glover entered the convent of the Servites of Mary in Blue Island, Ill. Upon completion of 10 years of training, Glover took her final vows, becoming Sr. Mary Desales. Her passion for education defined both her life and her career. She graduated from Canisius College in Buffalo, N.Y. with a bachelor’s in 1968 and earned master’s from the SUNY Buffalo and PhD. in Higher Education from Stanford University. The Archdiocese of St. Paul and Minneapolis recruited Sharon in 2000 to reopen the historic St. Peter Claver Catholic School in St. Paul, the capstone of her career. She was preceded in death by her husband, Gleason Glover; parents, Carl Tolbert and Pearl Tolbert; brothers, Carl Tolbert, Jr. and Dr. George Tolbert. She is survived by her sisters, Dr. Carlene Bawden, Darlene (Mickey) Palmer and Phyllis (Earl) Barnes; nephews and nieces, Robert Jr. and Sharon Crumpton, Terri Palmer Johnson, Jonathan Palmer, Tobi
AS
I2H
A retired physician continues caring for NorthPoint friends
PAGE 6
Black Nativity returns to the Penumbra stage
PAGE 9
Dr. Sharon R. Glover Palmer and Molly Palmer, John Stewart and Cortland Stewart, Dr. Maisha Barnes and Byron Barnes; step children Gleason (Andrea), Maury (Tom) and Stephanie Glover; step grandchildren Genevieve and Germaine Glover.
AS
Purple spotlight: Prince Day Houston
PAGE 10