Vikings Stadium Bill is officially signed in Minneapolis

Vikings Stadium Bill is officially signed in Minneapolis

Gov. Mark Dayton will give special treatment today to the official signing of the Vikings stadium bill.

Dayton will hold the noon ceremony in the State Capitol rotunda, signing the bill — underneath an ornate marble dome — to replace the Teflon-roofed Metrodome with a spanking new home for the football team.

Vikings owners, bill sponsors and leaders from the labor and business communities will be on hand.

The legislation for the $975 million stadium commits the state to raising $348 million by allowing electronic pull-tabs and bingo in bars and restaurants. There are also backup funding measures such as a lottery game and luxury suite taxes.

Although renderings of a new stadium were released by the team and other groups involved in the debate, the actual design of the stadium — including whether it will have a retractable roof — is a long way off.

Also, the Minneapolis City Council still needs to vote to approve its share of the stadium financing. The city’s contribution is expected to be $150 million for construction and another $189 million for operating costs over the life of the deal, not including interest payments.

Dayton’s signature on the bill kickstarts a 30-day timeline for the council to give its approval.

Unless Mayor R.T. Rybak fast tracks a vote, council members would take action at their next regular meeting on May 25. A slim majority of the council has expressed support for a new stadium.

After Dayton signs the stadium bill, he has one other big piece of legislation to deal with: The tax bill.

He vetoed the first GOP tax bill, so Republicans scaled it back and sent him a new version. The final version of the bill provides $46 million in business tax breaks, including tax breaks for research and development, investors in new businesses and historic preservation projects.


Related posts:

  1. City of Minneapolis is now in support of New Vikings Stadium
  2. Minnestota Vikings Stadium | Will it boost development?
This entry was posted in Ideal City Living. Bookmark the permalink.

Comments are closed.