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SENATE TAX COMMITTEE APPROVES STADIUM DEVELOPMENT STUDY – MARCH 27, 2008
Today the Senate Taxes Committee adopted an amendment to the Omnibus Tax Bill (SF 2869) that addresses a new Vikings stadium. Authored by Senator Dan Larson (DFL-Bloomington), the amendment allows the Vikings and the Metropolitan Sports Facilities Commission (MSFC) to move forward on a stadium development proposal that will be presented to the Legislature in 2009.
“We appreciate the Sports Commission’s effort to advance this proposal as well as the Legislature’s commitment to get on a path toward a stadium solution,” said Vikings Vice President of Public Affairs/Stadium Development Lester Bagley.
Specifically, the amendment authorizes the MSFC and the Vikings to begin the necessary planning work during 2008, including the facility’s appropriate program elements, design features, construction schedule and cost estimates. This planning work will cost approximately $2 million in 2008, but will save $45-50 million by keeping the timeline intact to open a new stadium on the Metrodome site in 2012.
Click here to read the Minneapolis Star Tribune story on the Senate Taxes Committee amendment.
MSFC TO PRESENT “LISTENING TOUR” REPORT TO LEGISLATIVE LEADERS
Before the conclusion of the 2008 Legislative Session, the Metropolitan Sports Facilities Commission (MSFC), the public body that owns the Metrodome, plans to present a report to the State Legislature on their recently conducted “Listening Tour.” This tour allowed fans throughout the state an opportunity to hear details and provide necessary feedback on the Vikings/MSFC stadium development proposal. During the tour, members of the Commission emphasized the urgency in which Minnesota must act due to cost inflation and the Vikings’ lease expiring in 2011. They also underscored the benefits the state of Minnesota receives from having a year-round facility that hosts many types of events with a significant economic impact for our region.
STADIUM DEVELOPMENT PROPOSAL
Working with the MSFC, the Vikings are moving forward on a public-private partnership that will open a new multi-purpose stadium on the current Metrodome site in the year 2012.
This economic development proposal includes three critical elements that go beyond hosting Vikings’ home games:
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A retractable-roof stadium that will give Minnesotans a state-of-the-art venue to be used year-round for high school and amateur sports, trade shows, community and cultural events as well as national and international happenings.
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A Winter Garden light rail train station that will serve as a connecting point for the future Central Corridor light rail line and the existing Hiawatha line. This gathering place is integral to the Vikings’ vision of the overall development and will host indoor/outdoor activities for transit riders, neighborhood residents, downtown workers and attendees of stadium events.
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A privately financed redevelopment of the Downtown East area that will include office buildings, residences, shops and restaurants. This exciting project will create jobs, boost the economy and bring a renewed energy to this area of Minneapolis.
LEGISLATIVE UPDATE
Last December, the Governor and Legislative Leadership told NFL executives visiting Minnesota that 2009 is the year to resolve the Vikings stadium issue. Financing a stadium in the spring of 2009 keeps the Vikings’ on the 2012 timeline to open a new stadium, which is critical due to rising construction costs and the team’s Metrodome lease set to expire after the 2011 season.
HOW YOU CAN HELP:
Much work remains between now and the 2009 Legislative Session. Minnesota Momentum needs to gather more supporters as the discussion about the Vikings’ stadium development project in Downtown East Minneapolis moves forward with our state leaders.
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