Minneapolis Offers 25% of Cost For New Vikings Stadium.
Minneapolis officials will announce a proposal Monday to build a new stadium for the Minnesota Vikings on the Metrodome site that calls for the city to pay roughly 25 percent of the cost, a source with close knowledge of the plan said late Sunday.
City officials have scheduled a midafternoon news conference at the State Capitol to outline details of the proposal, which comes two weeks before the Legislature is scheduled to adjourn. The city is competing with Ramsey County, which wants to lure the Vikings to suburban Arden Hills, to partner with the team and the state on a new stadium.
The city plan, according to the source, would use sales taxes from the city’s convention center for the project and also would provide money for renovation of Target Center, the home of the Minnesota Timberwolves in downtown Minneapolis. The proposal would also change the debt structure for Target Center.
No city property taxes would be used for the Vikings stadium, the source said.
The city’s plan comes just days after Ted Mondale, Gov. Mark Dayton’s chief stadium negotiator, said the Vikings were pursuing the stadium with the understanding the team would have to raise its contribution to roughly 40 percent of the cost.
Two state legislators, Sen. Julie Rosen, R-Fairmont, and Rep. Morrie Lanning, R-Moorhead, introduced legislation last month that would have the state, the Vikings and a local government partner each pay roughly a third of the project’s cost. The latest estimate of the stadium’s cost is just under $900 million.
Mayor R.T. Rybak and City Council President Barb Johnson met Friday with Zygi Wilf, the Vikings owner, and an official from the National Football League, but top city officials have until now kept details of the plan secret.
After the meeting, Lester Bagley, Vikings’ vice president for stadium development and public affairs, said the city had a “vision” for a new stadium at the Metrodome, but Bagley declined to provide details. He said the team was still weighing both the Ramsey County and Minneapolis proposals.
Wilf also met with Ramsey County officials Friday, and Dayton, who met with Wilf on Thursday, said the Vikings owner talked “very impressively” of the Arden Hills property, a former ammunition plant. Vikings and Ramsey County officials have touted the property as giving the team a better opportunity than the Metrodome affords to capture parking revenue and provide tailgating for fans.
Ramsey County officials, who have hinted of using a countywide sales tax to help fund the project, have said repeatedly in recent weeks that they are close to an agreement with the team.
With the Legislature scheduled to adjourn May 23 and still wrestling with how to solve a $5.1 billion state deficit, the Vikings stadium plan is expected to add a large dose of political drama in the session’s closing days.
Polls have consistently shown a significant majority of Minnesotans oppose using public subsidies to build a new stadium for the Vikings.
The state’s contribution would consist of a variety of so-called user taxes, including a special lottery game, and would also have the state control revenue from the stadium’s naming rights.
Though the stadium has loomed as a large issue awaiting legislators this year, the proposed legislation has not yet had a hearing. Republicans hold new majorities in both the House and Senate, and a significant number of both Republican and DFL legislators oppose using taxpayer money to help build the stadium, especially while the state faces major economic woes.
Stadium critics have also argued that public subsidies for the Vikings should not be approved at a time the state is making major cuts to programs for poor and disadvantaged Minnesotans.
The Vikings have played at the Metrodome in downtown Minneapolis since 1982 but have announced they would not renew the team’s lease after the 2011 season. Wilf has insisted he is not interested in moving or selling the team.
MNVikingsBlog.com Analysis: 25% of the cost of the new stadium is the initial offer. I only expect the percentage to go up as Arden Hills puts together a package pushing the stadium over to Ramsey County. As stated by the article, 40% is likely to be contributed by the Vikings and with the “winning” city offering what will likely end up being 25%-30%, the state will only need to pony up 25%-30% as well. Not bad for a venue that will add billions of dollars over the lifetime of the structure! Let’s get something done!