Skip to main content

Short-term financing may be needed to keep stadium on schedule

  • Author:
  • Updated:
    Original:

Short-term financing may be required with a lawsuit blocking the sale of public bonds for a new Vikings stadium.

The lawsuit threatens to delay the timeline for construction on the Vikings Stadium, if the matter is not resolved in time.

The Pioneer Press reports even if the State Supreme Court acted quickly it is unclear if the state could or would make the bond sale in time to provide money for the project by next week.

According to the newspaper, Minnesota Management and Budget Commissioner Jim Schowalter isn't sure what a short-term financing package would look like. He said, "We're in, again, unprecedented waters."

The Minnesota Sports Facilities Authority officials have said they need proceeds from the $468 million bond sale by next Thursday to proceed with the acquisition.

Schowalter was unsure if the money could be ready by Thursday. He told the Pioneer Press it takes time to put together a bond sale, similar to the process of closing on a house.

Three Minneapolis residents filed the lawsuit to stop the bond sale and the stadium project. Former Minneapolis mayoral candidate, Douglas Mann, his wife, Linda; and former city School Board member David Tilsen say the bond sale is unconstitutional.

The MSFA said, "Mr. Mann appears to be a serial litigant, determined to keep asserting meritless claims until this court, the final arbiter of Minnesota law, definitely disposes of those claims.

Both sides in the lawsuit filed their paperwork on Thursday.

The court is expected to rule in short order.

Next Up

FWDqyh6UEAENgIG

80 mph winds, large hail possible with severe storms in MN

A severe thunderstorm watch is in effect for much of the state until 3 a.m. Saturday.

290376311_5009722282489162_198055240351933487_n

30 people evacuated as flooding hammers small town

It's assumed that at least eight inches of rain fell in Randall, with more heavy rain expected Friday night into Saturday morning.

Intersection in Rochester.

Boy dies in motorcycle crash in Rochester

Police are investigating as of Friday afternoon.

Tab2FileL (13)

Numerous severe storms likely in Minnesota Friday night

Watch the video for the full details with meteorologist Sven Sundgaard.

court room

Teen pleads guilty in shooting death of 15-year-old girl in Columbia Heights

Damico Jamal-Tokyo High will receive a sentence in juvenile court, along with an adult prison sentence.

Screen Shot 2022-04-25 at 11.00.01 AM

Walz wants to use surplus money to send direct payments to Minnesotans

It's a renewed effort from a previous proposal from Walz and Lt. Gov. Peggy Flanagan's supplemental budget in January.

Ron Johnson

Jan. 6 committee says aide for WI senator tried to give fake elector info to Pence

The attempt was discovered through text messages in the ongoing public hearing held by the Jan. 6 select committee.

Stock U of M sign

Minnesota state colleges boosting tuition again by 3.5%

The Minnesota State system's Board of Trustee's approved the increase Wednesday.

covid

Minnesota's COVID-19 update for Friday, June 24

The next daily update will be provided Monday, June 27.

Pro choice rally

Walz, Jensen react to historic Supreme Court reversal of Roe v. Wade

After voting to overturn Roe, conservative Justice Clarence Thomas has hinted contraception and same-sex marriage protections should follow.

16362 County Rd 81, Maple Grove, Minnesota - October 2021 (4)

2-year-old killed in crash on County Road 81 in Maple Grove

The crash occurred Thursday evening on County Road 81.

police tape

BCA issues new details about St. Michael standoff, shooting

New details say a St. Cloud police officer struck the suspect with gunfire.

Related