By Rochelle Olson
Ramsey County's third Minnesota Vikings stadium proposal doesn't work for the team, Vice President Lester Bagley said Friday.
The latest plan delivered to Gov. Mark Dayton shifted from using county sales taxes to user fees at the proposed stadium site in Arden Hills. Bagley was direct about the third effort, saying, "Our view is the earlier proposals were more viable."
The latest concept violates the initial agreement between the team and the county revealed in May. The pact required the team to get the parking revenue and ruled out a ticket tax. "We'll continue to work with them on it," Bagley said.
The new plan is assumed to raise $20.6 million a year beginning with $16.3 million in 2016 and growing to $25.5 million in 2045 when the county will have paid off its portion of the project. The total costs are $1.1 billion. The plan would have the Vikings contributing $425 million, the state $350 million and $336 million from the county.
The proposal would use seven revenue streams to raise the money, including $5.4 million in parking fees from non-game events and $2 million in naming rights to parking lots. A 3 percent admissions surcharge would be included.
The deal would collect hospitality taxes from not just the stadium but the entire 430-acre former munitions site. Those taxes include food, beverage, sales and lodging. Growth in sales tax revenues at the site and business property taxes at the site would be used for transportation upgrades in surrounding roads. The county would assume the cost of land acquisition and remediation.
Commissioner Tony Bennett said he envisioned the rights to parking sectors being sold to businesses so fans could navigate to their cars in perhaps the 3M, Medtronic or the Red Bull lots. "It's a game-changer, it's very different from the first two proposals," Bennett said.
