Minneapolis officials on Thursday released details of their vision for a new Minnesota Vikings stadium in downtown Minneapolis, a plan that includes help for the Target Center and Convention Center.
The plan, announced by Mayor R.T. Rybak at a late afternoon State Capitol news conference, focused on three potential sites for a stadium, with costs ranging from $895 million for a stadium at the current Metrodome site to $1.046 billion for the Farmers Market location.
Also in the mix is a $1.031 billion plan for a stadium on Linden Avenue in downtown Minneapolis, also known as the Xcel Energy or Basilica site.
The city’s share for any of the three plans would come from a combination of sales taxes (0.35 percent), a new lodging tax (1 percent), and gaming revenue from a proposed Block E casino (5 percent through 2020, 3 percent thereafter).
Each of the plans includes funding for a $150 million Target Center renovation, and money to ensure the “long-term operating and capital needs” for the Minneapolis Convention Center, according to a city of Minneapolis press release.
Rybak, in a press release, touted the plan as a way to build a stadium and “secure the future” for Target Center and the Convention Center for about the same price or less than the proposed $1.1 billion stadium in Arden Hills.
The city may have a tough time persuading the team and skeptical lawmakers to go along with the plan.
The Vikings have tied their ship to the rival Arden Hills plan, which calls for funding from Ramsey County ($350 million), the team (approximately $420 million) and the state ($300 million).
Gov. Mark Dayton said earlier this month he would call for a special session in November to deal with stadium proposals.
A grid that compares all three plans for a Minneapolis People’s Stadium.
A fact sheet about the Linden Avenue site.
A fact sheet about the Farmers Market site.
A fact sheet about the Downtown East site.