Stadium numbers crunched at Mpls. city council hearing

  • Article by: ERIC ROPER , Star Tribune
  • Updated: May 22, 2012 - 7:10 AM

Ahead of Friday's final vote, the Minneapolis City Council is trying to get a handle on costs, revenue.

hide

Artist's rendering of interior of new Vikings stadium

Photo: , Associated Press

CameraStar Tribune photo galleries

Cameraview larger

An opponent of the Vikings stadium bill on the Minneapolis City Council held a hearing on its financial details Monday, while acknowledging that final passage appears inevitable.

"We are going to disagree on Friday morning, but chances are good on Monday morning we're going to wake up and have to build a stadium in the city of Minneapolis," said Council Member Betsy Hodges. The council is expected to take a final vote on the stadium deal, which has already been signed into law by Gov. Mark Dayton, this Friday.

Also Monday, Minneapolis City Attorney Susan Segal issued a formal written opinion backing earlier oral advice that the taxes used to fund the stadium will not trigger a citywide vote requirement in the city's charter. Segal asked a private attorney, Charles Nauen, to conduct an independent review of the opinion.

Documents distributed at Monday's hearing show the city's contribution to the stadium construction and operations will be $309 million, or $678 million when accounting for interest over the life of the deal.

That figure could rise if the relevant taxes -- a citywide sales tax, downtown restaurant and liquor taxes and a hotel tax -- grow faster than 2 percent a year. The city would then also be left with hundreds of millions extra in economic development funds, however.

Council Member Gary Schiff, an opponent of the plan, asked city staffers why there were no guarantees in the bill to ensure nearby development extends beyond "one bar in front of the Metrodome, as we have today."

"The development pressure downtown will all head east in years to come because it's the only way that downtown can grow," responded city development chief Chuck Lutz.

Council members also expressed concern that while the plan provides more than $400 million over time for convention center capital investments, it does not set aside money for the capital projects necessary to keep that facility "competitive."

In addition to the existing sales tax revenue, the city is expecting to garner more than $1.5 million a year from ticket taxes at the new stadium -- not currently levied at the Metrodome. There may also be additional revenue from parking and a potential hotel "user fee."

The legislation also gives Minneapolis the means to renovate the city-owned Target Center. Mayor R.T. Rybak said the city likely will put $60 million to $70 million into that project, which will be combined with a similar amount from private partners.

The stadium proposal will be voted on twice this week, in committee on Thursday and at a council meeting on Friday. In a test vote last month, seven of 13 council members supported the stadium deal.

Eric Roper • 612-673-1732 Twitter: @StribRoper

  • get related content delivered to your inbox

  • manage my email subscriptions

ADVERTISEMENT

Cleveland - LP: T. Bauer 1 FINAL
Minnesota - WP: A. Swarzak 3
Cincinnati - LP: M. Leake 1 FINAL
Milwaukee - WP: K. Lohse 5
Kansas City 1 Top 9th Inning
Chicago WSox 1
Washington 2 Bottom 5th Inning
Colorado 3
NY Mets 1 Top 5th Inning
Seattle 0
Detroit 7 Bottom 4th Inning
Arizona 0
Los Angeles - D. Haren 6:05 PM
Pittsburgh - F. Liriano
San Francisco - M. Bumgarner 6:05 PM
Philadelphia - A. Burnett
Texas - Y. Darvish 6:05 PM
NY Yankees - D. Phelps
Boston - C. Buchholz 6:07 PM
Toronto - R. Dickey
Miami - N. Eovaldi 6:10 PM
Atlanta - E. Santana
Tampa Bay - A. Cobb 6:15 PM
St. Louis - L. Lynn
San Diego - I. Kennedy 7:05 PM
Chicago Cubs - T. Wada
Houston - B. Peacock 9:05 PM
Oakland - J. Chavez
Baltimore - C. Tillman 9:05 PM
LA Angels - J. Weaver
Chicago 9:30 PM
San Jose
Calgary 7/24/14 8:00 PM
Edmonton
Winnipeg 7/25/14 9:00 PM
Brt Columbia
Ottawa 7/26/14 6:00 PM
Hamilton
Toronto 7/26/14 9:00 PM
Saskatchewan
Winnipeg 7/31/14 6:00 PM
Hamilton
Connecticut 75 FINAL
Washington 89
New York 9:30 PM
Los Angeles
Connect with twitterConnect with facebookConnect with Google+Connect with PinterestConnect with PinterestConnect with RssfeedConnect with email newsletters

ADVERTISEMENT

ADVERTISEMENT

Date/Opponent Time W L Score
2014 preseason     
Aug 8 - vs. Oakland 7 pm
Aug 16 - vs. Arizona 7:30 pm
Aug 23 - at Kansas City 7 pm
Aug 28 - at Tennessee 7 pm
2014 regular season     
Sep 7 - at St. Louis Noon
Sep 14 - vs. New England Noon
Sep 21 - at New Orleans Noon
Sep 28 - vs. Atlanta 3:25 pm
Oct 2 - at Green Bay 7:25 pm
Oct 12 - vs. Detroit Noon
Oct 19 - at. Buffalo Noon
Oct 26 - at Tampa Bay Noon
Nov 2 - vs. Washington Noon
Nov 9 - Bye
Nov 16 - at Chicago Noon
Nov. 23 - vs. Green Bay Noon
Nov. 30 - vs. Carolina Noon
Dec 7 - vs. NY Jets Noon
Dec 14 - at Detroit Noon
Dec 21 - at Miami Noon
Dec 28 - vs. Chicago Noon

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

question of the day

Poll: Which local pro team are you most excited about?

Weekly Question

ADVERTISEMENT

 
Close