New Vikings Stadium: HSO's Resource for Details, Information and Stadium Plan Docs

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Just so those of us here at HSO stay informed and updated on the issues, I have compiled a good start to information about the current New Vikings Stadium. I will be adding more to the original post as I pull further info.

Current Vikings Stadium News:

Vikings Respond To St. Paul Mayor Chris Coleman

May 25, 2011, Vikings Website

Today Saint Paul Mayor Chris Coleman unveiled his “Statewide Stadium Solution,” to build a new Vikings stadium in Minneapolis, move the Timberwolves to Saint Paul in a retrofit Xcel Energy Center, shut down the Target Center in Minneapolis and fund a new Saint Paul Saints ballpark in Saint Paul. Coleman’s financing plan calls for a statewide two penny-per-drink tax, a local option sales tax extension in Minneapolis, a .25% Saint Paul sales tax and State loan forgiveness for the Xcel.

The Vikings responded to the proposal this afternoon.

“We appreciate Mayor Coleman’s thoughts regarding a stadium solution, but we are entirely focused on our partnership with Ramsey County,” said Vikings Vice President Lester Bagley. “The Arden Hills plan offers the best site for the State, the team and our fans. We have done what State leaders asked us to do by bringing forward an ideal site, a workable finance plan and significant team and local contributions. Our work with State leaders on stadium legislation is on-going as part of the Special Session discussions.”

Quote:

Vikings meet with L.A. developer, but say it's not about moving

Posted by: Mike Kaszuba under Funding, Minnesota legislature, State budgets Updated: May 26, 2011 - 6:16 PM

By KEVIN DUCHSCHERE

Star Tribune

Minnesota Vikings’ officials met Tuesday with the developers of the proposed NFL stadium in Los Angeles! That’s the headline.

The story, however, is considerably less ominous.

Tim Leiweke, president of sports developer and facilities manager AEG, was in town to talk about Target Center improvements with Minneapolis and Timberwolves officials. AEG runs Target Center, where Leiweke hung out for several years as Wolves’ vice president.

While here, Leiweke also contacted the Vikings – not to make a pitch to move to L.A., said Vikings’ vice president Lester Bagley, but to talk about the possibility of managing the multipurpose stadium in Arden Hills that the team wants to build with Ramsey County.

“Our desire more than likely is to retain a third-party operator who’s motivated and has expertise in bringing events” to a new stadium, Bagley said.

They also talked about the prospects for Arden Hills as a sports entertainment complex modeled on AEG’s LA Live in downtown Los Angeles. The Vikings, Bagley said, would like to “recreate that energy” if possible.

AEG is seeking an NFL team – or two – to move into Farmers Field, the proposed L.A. stadium. Farmers Insurance has reportedly pledged $800 million to $1 billion in naming fees for the stadium.

Star Tribune columnist Sid Hartman reported the Vikings’ meeting Thursday, quoting Leiweke as expressing support for the Vikings’ hopes to build a stadium in Minnesota. “We’ll stay in touch with them and see what we can do to help them long-term,” Leiweke said.

Meanwhile, Bagley again repeated what he said Wednesday after St. Paul Mayor Chris Coleman proposed a global stadium solution that would replant the Vikings in Minneapolis: “We’re a hundred percent committed to the project in Arden Hills,” he said.

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In-depth Stadium Info:

Vikings Partnership and Stadium Plan Related Information:

Originally Posted By: Vikings Website

Ramsey County Announces Partnership with Vikings

On May 10th, Ramsey County officials announced that they have reached an agreement with the Minnesota Vikings to be the team’s local partner in the effort to secure a new stadium in Minnesota. The site of the publicly-owned stadium – a new retractable-roof, multi-purpose facility – will be the former Twin Cities Army Ammunitions Plant (TCAAP) property in Arden Hills. The agreement reached by the team and the County calls for an $884 million stadium and an additional $173 million for on-site infrastructure, parking and environmental costs, bringing the total project costs to $1.057 billion. The Vikings will commit $407 million to the project - 44% of the stadium costs and 39% of the overall costs. The team and the County are currently working with State legislative leaders and the Minnesota Department of Transportation on identifying costs and funding options for off-site road improvements, estimated to be $7 million per year.

“Reaching an agreement with Ramsey County as our local partner is a major milestone in our efforts to finalize a long-term stadium solution, and we are pleased to have found such a strong and forthright partner,” said Zygi Wilf, Vikings owner and chairman. “While we certainly appreciate the proposal by the City of Minneapolis, as well as the recent efforts by Hennepin County, we believe the Ramsey County site offers the most benefits to our fans, the team and the State and is the ideal site for a new stadium.”

The 260-acre Ramsey County site is only 10 miles from both Minneapolis and St. Paul, providing easy access to fans from the entire metro area, as well as the team’s many fans throughout Minnesota and the upper Midwest. The location and the retractable roof will also make the new stadium an attractive option to potentially host large-scale events like European and Major League Soccer, the NCAA Final Four, college football Bowl games and a Super Bowl. Finally, with an estimated 21,000 parking spaces, the site will bring back the long-time tailgating tradition, give the team and its fans a “Vikings destination” and make NFL games a day-long fan experience with friends and family.

“With a local partner and a site locked in, we can now focus on working with legislators and the governor to pass a stadium bill that secures the long-term future of the Vikings in Minnesota and supports thousands of much-needed jobs,” said Mark Wilf, Vikings owner and president. “We look forward to working with State leaders to determine the State’s contribution.”

Not only will a new stadium support thousands of jobs, it also will spur significant new economic activity at a time when the State desperately needs it. The stadium project is estimated to support 13,000 full and part-time jobs, including 7,500 construction jobs during the three-year construction period. Nearly $300 million of the overall project costs will be wages for construction workers, who currently have an unemployment rate of nearly 20%, and approximately 95% of the total materials and labor costs are expected to go to local tradespeople in Minnesota.

The Stats and Facts from the State and Vikings:

Stadium On-Site cost was $330 million

Breakdown of What the Stadium Would Have Cost if Passed In 2002

Arden Hills On Site Cost Today: $939 million

2011 Stadium Costs. Arden Hills and Mpls Cost Comparison Break Down

Bill Summery:

Quote:

Bill Summary

House Research Department

File Number: H.F. 3825

Version: First committee engrossment

Date: May 5, 2010

Authors: Solberg

Subject: Vikings Stadium

Analyst: Patrick McCormack

Joel Michael

Deborah A. Dyson

This publication can be made available in alternative formats upon request. Please call 651-296-6753 (voice); or the Minnesota State Relay Service at 1-800-627-3529 (TTY) for assistance.

Overview

This bill provides for a new football stadium in Minneapolis, although it is silent on the specific site. It uses the existing law for the MSFC and, similar to the approach for the Metrodome in 1979, finances the new football stadium with revenue bonds issued by the Metropolitan Council. The bonds would be backed by a team contribution made upfront and a portion of the Minneapolis hospitality tax revenues once the Minneapolis Convention Center debt is defeased or retired. It also provides for $5.5 million a year from a sports-themed lottery game, via the state general fund.

Section

1

Financial assistance (Minnesota State High School League). Provides for expenditure of a league contribution by the Minnesota State High School League. Directs the Minnesota State High School League to provide need-based financial assistance to Minnesota students to pay fees to participate in league-sanctioned activities using money from the team.

2

Football stadium building materials. Provides that materials and supplies used in constructing and equipment incorporated into the football stadium are exempt from the sales tax. This exemption extends to purchases for the public infrastructure improvements constructed for the stadium. The exemption expires one year after the date the first NFL game is played in the stadium for the stadium purchases and five years after the first bonds are issued for infrastructure purchases.

3

Stadium or football theme game. Directs the lottery to conduct a stadium or professional football-themed game and to deposit $5.5 million per year into the stadium account. This money is appropriated to pay the stadium bonds.

4 to 8

Definitions. Defines for the sections of statute governing the MSFC and this article “football stadium,” “football team” (Vikings), “development area,” “public infrastructure,” and “streetscape.”

9

Legislative policy; purpose. Deletes obsolete language and adds the football stadium to the legislative rationale for public financing of sports facilities.

10 & 11

MSFC Membership, chair. Provides that the mayor of Minneapolis or the mayor’s designee serves as chair of the MSFC, striking the provision for the governor to appoint a person from outside of Minneapolis to serve as the chair.

12

Facility operation. Permits the MSFC to equip, improve, operate, manage, maintain, and control the football stadium and strikes obsolete language for the Met Center and Target Center.

13

Exemption from council review; business subsidy act; charter limitations. Adds an exemption from the business subsidy act and charter limitations to the statute that exempts the MSFC from Metropolitan Council metropolitan significance review and facilities review.

14

Procedure. Conforming change. Excepts the football stadium taxes and revenues from the language that dedicates revenues to the Metrodome bonds (which have been repaid). Strikes obsolete language.

15

Football stadium; council debt obligations.

Subd. 1. Use of bond proceeds. Permits the Metropolitan Council to issue bonds to acquire and better a football stadium.

Subd. 2. Amount; procedure. Authorizes an unspecified amount of revenue bonds. Requires them to be issued and sold as provided for municipal bonds in Minnesota Statutes, chapter 475. No election is required.

Subd. 3. Prerequisite. Requires the council to determine that the criteria and conditions in new section 473.5814 have been met before selling any bonds.

Subd. 4. Security; maturity. Permits the council to pledge to bond repayment:

• money in the escrow account from the team,

• money appropriated to the Metropolitan Council from the stadium account, and

• any other money from leases, rents, or other sources available to the Council to pay debt service.

Permits the bonds to be 40-year bonds, or equal to the life of the asset, whichever is less.

16

Criteria and conditions.

Subd. 1. Binding and enforceable. Requires the Metropolitan Council to determine that the criteria and conditions in this section have been met. Requires all financing and use agreements between the Council, MSFC, city of Minneapolis, and the team to be executed by September 1, 2010.

Subd. 2. Football team contribution. Requires the team to agree to deposit into an escrow account an amount sufficient to pay at least the first ten years of debt service on bonds issued by the Council.

Subd. 3. Team contribution to student athletics. Establishes a five percent contribution to student athletics. Requires the football team to give the Minnesota State High School League an amount equal to five percent of team’s upfront contribution for the stadium.

Subd. 4. Minneapolis hospitality taxes pledged. Requires the city of Minneapolis to agree to pay to the MSFC or Council for capital and operating costs of the football stadium 58.5 percent of the sales tax revenues the city receives for the Convention Center, after the Convention Center bonds are defeased or retired.

Subd. 5. Local sales tax exemption. Prohibits local sales and use taxes on sales at the stadium site.

Subd. 6. Lease or use agreements; 40-year term. Requires the MSFC to have a stadium lease or use agreement with the team that is for at least 40 years. Requires injunctive relief and specific performance remedies for breach of the agreement. Prohibits escape clauses and buyout provisions.

Subd. 7. Lease or use agreements; revenues; payments. Requires the MSFC to have lease or use agreements with the team that include paying rent in an amount determined by the MSFC each year that would be enough to cover actual and projected operating costs. Provides the team with game day revenues, suite revenues and naming rights revenues. The MSFC must get all non-football event revenues.

Subd. 8. Notice of breach or default. Requires the team to provide 90-day written notice of any pending breach or default of the lease or use agreements. Violation of this notice requirement permits the MSFC or the state to enforce the agreements and seek equitable remedies against the team and the National Football League.

Subd. 9. Enforceable financial commitments. Requires the MSFC to determine that all financing is sufficient and committed before beginning construction.

Subd. 10. Council, commission access to football team financial information. Requires the team to provide to the MSFC and the Metropolitan Council annual access to audited financial statements deemed necessary to determine compliance with this act and the lease or use agreements. Provides that the financial information is nonpublic data.

Subd. 11. Environmental; planning and zoning. (a) Makes the MSFC the responsible governmental unit for environmental review. Provides that the environmental review does not have to consider alternative stadium sites and that the EIS must be determined to be adequate before work on the stadium foundation begins. Other stadium and public infrastructure work may be started and other government decisions and actions may be made, including land acquisition, financing, permitting, land use approvals, etc., before the EIS is done.

( Provides an alternative and expedited municipal land use and development review process.

Subd. 12. No strikes, lockouts. Requires a public sector labor agreement to prevent strikes and lockouts that would halt or delay the stadium construction.

Subd. 13. Football team name retained. Requires an agreement to give the team name, and all associated heritage and records materials, to the state if the team is dissolved or relocated.

Subd. 14. Public share on sale of team. Requires a percentage of the sale price of the team (from 18 percent, declining to zero at the end of ten years) to be paid to the authority. Provides exemptions for certain sales.

Subd. 15. Revenues; authority. Allows the commissioner to identify and raise non-tax revenues to be used for the stadium.

17

Account funds appropriated. Appropriates stadium account money to the Metropolitan Council to pay bonds issued for the football stadium. Permits money in the account to be pledged to repayment.

18

Development partnership. Allows Minneapolis and the football team to enter into a development; places conditions on that agreement.

19

Use of property. Permits revenues from taxes imposed to pay for the Minneapolis Convention Center, to be used to:

• pay capital or operating costs for the football stadium and related infrastructure and facilities;

• pay for public safety services in the downtown taxing district; and

• pay capital and operating costs of the Target Center.

20

Minnesota Stadium Authority. Directs the Metropolitan Council to act as the Minnesota Stadium Authority to solicit proposals and determine if a location other than Minneapolis is superior. If so, the Metropolitan Council must draft legislation to enact that proposal

21

Effective date. Sections 1 to 20 are effective the day following final enactment.

Another Bill Summery from the State

Links to help inform on the financial spending and recoup of our state funds used with a new stadium.

FAQ Over View Doc

Bill Engrossment H.F. No. 1441 5/11/2011

National Football League stadium in Minnesota funding provided, site selection process established, Minnesota Stadium Authority provided, Metropolitan Sports Facilities Commission abolished, imposition of taxes authorized, bonds issued, and money appropriated.

See the Bill Engrossments: H.F.3825, as introduced

Committee Engrossments: H.F.3825, as introduced

Bill Engrossment S.F. No. 3399

Bill Engrossment H.F. No. 1747 5/20/2011

State Lottery director authorized to establish gaming machines, tax imposed on gaming machine revenue, powers and duties provided to director, and multi-stadium revenue fund established and money dedicated in the fund for financing and construction of a stadium for the Minnesota Vikings and a ballpark for the St. Paul Saints.

List of Recently Built NFL Stadiums

Arden Hills stadium solution

Stadium Quick Hits

Ramsey County Announces Partnership with Vikings

New Stadium Creates New Construction Jobs

RSM McGladery Study

The Economic Impact of Minnesota Vikings Game Attendees:

A Playoff Example~2010

Additional Related Media from the Tribe, Pioneer Press and other Media Outlets:

Star Tribune: Dayton, Goodell confident Vikings stadium can still happen~May 17, 2011

MPR: Goodell, NFL will contribute toward Vikings stadium~May 17, 2011

MPR: Ramsey County’s agreement on a Vikings stadium is a win for Minnesota~May 17, 2011

Pioneer Press: Nearby cities hope propos...ts~May 15, 2011

Some Related Info About the Stadium and News from Local Sources:

Nice Birds Eye View of the New Stadium (Future) Site

Related Stadium Videos:

How and Who Pays for the Stadium:

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As news becomes available we will update or change as needed.

Thanks and Go Vikes 2011!