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Other businesses are watching to see what the Legislature does with Mayo’s request.
The Mall of America is again looking for subsidies to offset the $2.1 billion cost of its long-standing dream to double in size. The Bloomington megamall’s perennial request was introduced by Lenczewski.
Maplewood-based 3M wants tax breaks as it works on multimillion-dollar improvements to its campus, including a city fire station and $150 million research lab.
Both requests are also in the form of special taxing districts.
“They’re all major projects, and personally I’d like to have all three of them,” said Dayton, who nevertheless has tempered his talk about Mayo’s makeover with warnings that its current request might not be politically workable.
“How to finance it in a way that the state can afford and makes sense is something that we’re still working out,” he said.
Promising upfront to set aside half a billion dollars in tax revenue for one private enterprise means locking 20 years of governors and legislators into a $30-million-a-year commitment, he said.
“I’m optimistic we’ll come up with something and it won’t take 10 years — it’ll take this session,” Dayton said. “We’ve got to work it out.”
Star Tribune reporter Rachel E. Stassen-Berger and the Associated Press contributed to this report.
Jennifer Brooks • 651-925-5049