FARMERS MARKET SITE
$1.046 billion
Financing:
• City of Minneapolis: $300 million.
-- 0.35% sales tax and 1% lodging tax, or
-- 5% Block E gaming gross revenues through 2020, 3% after 2020 and $20 million license fee
• City's base annual operating contribution: $9 million.
LINDEN AVENUE SITE
$1.031 billion
Financing:
• City of Minneapolis: $285 million.
-- 0.35% sales tax and 1% lodging tax, or
-- 5% Block E gaming gross revenues through 2020, 3% after 2020 and $20 million license fee
• City's base annual operating contribution: $9 million.
DOWNTOWN EAST SITE
$895 million
Financing:
• City of Minneapolis: $195 million.
-- 0.35% sales tax and 1% lodging tax, or
-- 5% Block E gaming gross revenues through 2020, 3% after 2020 and $20 million license fee
• City's base annual operating contribution: $9 million.
The Minneapolis argument:
• Facility would be publicly owned and operated by a new stadium authority.
• Stadium would be centrally located.
• City proposal would also mean $150 million in renovations to Target Center, and ensure the longterm operating and capital needs of the Minneapolis Convention Center.
• Proposal would build on significant public investments already in place.
• Proposal would provide $5 million in property-tax relief for Minneapolis businesses and homeowners by eliminating property tax obligations to Target Center.
Source: Mayor R.T. Rybak's office