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Blaine Vikings Stadium Concept Rolled Out... |
Key fan-friendly features of the stadium project include: • Expansive concourses, accessible restrooms and convenient concessions • Parking on site, with plenty of room for tailgating • Vikings corporate headquarters and practice facilities • Vikings museum, Hall of Fame, retail merchandise/gift shop and themed restaurant | | | The county and the team are proposing a financing package for the stadium that would have the Vikings pay $280 million of stadium costs. Anoka County would fund the same amount from a 3/4 percent countywide sales tax. State-issued general obligation bonds would cover roughly $115 million of the costs for on-site infrastructure and a portion of the retractable roof. Separate of the stadium project and site, Anoka County and the Vikings will also ask the state to accelerate planned off-site road improvements, such as widening I-35W and improving access to the freeway. The project-financing plan recommends that the state use tax revenue generated by the stadium and development project to pay the estimated $115 million for the accelerated roadway improvements. "The need already exists for these projects and the state plans to spend the money to do them, but not until 2020 or later," said Steve Novak, manager, Anoka County government services division. "Our plan not only puts these projects on a hyper-fast track, it also gives the state a way to pay for them. That's smart government. Ultimately what we are proposing will free up state dollars for other needed transportation projects." The finance plan for non-county and non-team portions calls for the state-issued bonds to be repaid entirely with incremental tax revenue generated in a taxing district created for the stadium and development project. No additional taxpayer money would be needed for on-site improvements. The funding model is consistent with recommendations made by Governor Tim Pawlenty's stadium task force in 2004. "This is a plan that works and pays for itself," said Novak. "The people who use this facility and benefit from it being in Anoka County will pay for the facility." "We believe that when legislators review our proposal they will agree that our plan makes sense and deserves to be considered in a timely manner, certainly when other stadium issues are discussed," added Novak. The county and team will seek legislation to authorize the local option sales tax and to establish a special taxing district. Initial estimates suggest that the project will, over time, generate a revenue surplus for the state in excess of $245 million, after paying for the $115 million in on-site and retractable roof costs, as well as the additional $115 million in accelerated roadway costs. |
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