No doubt one person who played a huge part in getting Target Field built is Hennepin County Commissioner Mike Opat, who fought the battle to get a new home for the Twins as hard as anybody.
With the ballpark in the midst of its fourth season, it seemed like a good time to ask Opat if the finances connected with paying for the stadium are working as expected. Have there been problems raising money for Target Field like there are for the Vikings football stadium, where the projected income from electronic pulltabs isn't being met and other alternatives to pay for it are being discussed?
"The ballpark, we're paying our mortgage on schedule; in fact, we're ahead," Opat said. "That's all good news. When we began the project, you'll remember that we wanted to cap the cost of the project, so we did that at about $390 million, of which $260 million would be the county's participation, plus another $90 million for infrastructure.
"So we had $350 million of public money [to go along with $185 million of private money invested by the Pohlad family] into it and we imposed a sales tax and we collect … roughly the mortgage payments are right around $20 million a year, a little less than $20 [million]. In addition the sales tax has generated, because the economy has rebounded a little bit, we've made $30 million in additional prepayments so we can retire this tax as soon as possible."
Opat also pointed out that one of the benefits of the countywide tax for the stadium is that it creates an annual revenue of about $4 million, with $2 million of that going to keep city libraries open on Sundays while the other half is used for youth sports grants.
"Those are very important for some of the inner-ring suburbs in the city, where we can improve ball fields and work with school districts," Opat said. "We've spent more than $11 million and made more than 68 grants to help restore ball fields, build soccer fields in neighborhoods that don't have them, batting cages, playground equipment, tennis courts. We've done a lot of things that we wouldn't have been able to do."
The tax being collected in Hennepin County is three cents on every $20 spent.
"It's interesting to follow the Vikings debate — and we had the same thing face us — is how will the public pay for it?" Opat said. "We could have had a more exotic menu of liquor taxes or try to get gambling taxes or hotel taxes or all the rest, and we tried to make it as straightforward as possible, though that didn't lessen the controversy.