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Will megamall deal usher in one for Vikings?
The Mall of America’s plan to help finance its second phase could face an important legislative hearing today — and among the interested observers will be the Minnesota Vikings, who see in the proposal a possible method to build a new football stadium.
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The Mall of America’s plan to help finance its second phase could face an important legislative hearing today — and among the interested observers will be the Minnesota Vikings, who see in the proposal a possible method to build a new football stadium.
After a previous version of the plan went down last year when Gov. Tim Pawlenty vetoed a sweeping tax bill that included it, the mall’s lobbyists are back in force at the Capitol. They’re hoping to tap money that otherwise would go into a metrowide business property tax pool and use it to help finance a $204 million parking ramp accompanying the $2 billion mall expansion. Last year alone, the mall spent $740,000 on lobbying.
Critics are rallying opposition to the plan in part by arguing that the Vikings would likely want to use the same mechanism to help build a $954 million stadium.
The Vikings acknowledge that they are watching the mall’s efforts, and team Vice President Lester Bagley said it will be “hard to explain” to owner Zygi Wilf why the mall project is moving forward while the Vikings’ stadium is not.
“Our ownership is alarmed at the lack of urgency” to bring about a new stadium, Bagley said.
“What do you think they’re thinking if [the mall’s plan] goes through?” asked House Taxes Committee Chairwoman Ann Lenczewski, DFL-Bloomington, whose panel could take up the proposal today. The Vikings, she said, are thinking, “Yeah, we got a funding source” for the stadium.
'Fiscal disparities’ pool
The mall’s plan to finance the parking ramp involves the state’s “fiscal disparities” pool, a complex financial tool that dates to the early 1970s.
Under fiscal disparities, 40 percent of the growth in the commercial-industrial tax base in the metro area is shared among communities in an attempt to strike a balance between “have” and “have not” cities in terms of tax base.
Bloomington, which has a large commercial tax base, is contributing $24 million in tax base to the pool this year and will receive $9 million in tax base in return. In contrast, St. Paul is contributing $23.4 million and is getting back $45.3 million.
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Current state office holders
Governor: Tim Pawlenty
One of only a few prominent Republicans to win a competitive re-election contest in the Democratic sweep of 2006, Tim Pawlenty is widely seen as politically shrewd and naturally likable.
- Lt. Governor: Carol Molnau
- Secretary of State: Mark Ritchie
- Attorney General: Lori Swanson
- State Auditor: Rebecca Otto
Minnesota's political giants: Learn more about the men and women who have shaped Minnesota's political history.
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