Hennepin County took a gamble on Target Field, and it paid off

Hennepin County took a gamble when the Minnesota Twins pushed for a new ballpark — one that a number of taxpayers considered a bad bet.

Little more than a decade later, the gamble has paid off. County officials say they expect to retire their debt on Target Field by 2027 — a full decade ahead of schedule, at a savings of more than $150 million.

The Twins' ballpark had a rough road. The push took years, with heavy opposition from taxpayers who, understandably, were suffering from stadium fatigue. When it came time for legislators to weigh in, the volume of calls from opponents crashed the State Capitol's phone lines. Most galling to some was the county's funding mechanism — a 0.15 percent ballpark sales tax that started in 2006.

But that sales tax proved a wise move. Better-than-anticipated revenue from the tax allowed the county to plow the extra money into paying off one $75 million bond 21 years early. County officials netted more savings recently when they took advantage of lower interest rates to refinance another chunk.

For its initial investment of $350 million, Hennepin County has a multipurpose, modern ballpark that jump-started development in a part of downtown previously marked by a freeway ramp, railroad tracks and the county garbage burner. In addition to being the permanent home for the Twins, Target Field has been used for soccer, outdoor concerts, the annual Skyline Music Festival and, most recently, a legendary faceoff between the rival football teams of the University of St. Thomas and St. John's University. When it opened in 2010, ESPN ranked it the No. 1 baseball experience in North America.

And the benefits have extended beyond baseball fans.

For eight years, revenue from the ballpark sales tax has paid for extended hours at libraries across the county. It has generated nearly $20 million for youth sports grants, which have been used to build or improve hundreds of playgrounds and sports facilities. Last year, the county started funding water survival lessons for disadvantaged young people.