Target Field financing exceeds expectations saving taxpayers millions


Hennepin County is on pace to pay off its $350 million share of Target Field five to 10 years ahead of schedule. The Star Tribune reports the county has taken advantage of low interest rates and a stable revenue stream to speed up its payments, saving nearly $54 million in interest expenses.

The roughly $555 million Twins ballpark, located in the Warehouse District of downtown Minneapolis, opened in 2010. Hennepin County commissioners approved a 0.15 percent sales tax to cover their part of the tab -- which is about 3 cents on a $20 purchase. The initial plan was to make the final debt payment by 2037.

County board Chairman Mike Opat told MPR, "Although the economy has been slower than we thought, interest rates have been lower than we thought. So the combination of those has allowed us to save some money for future capital expenses and then begin paying down the debt."

Meanwhile, electronic pulltab gaming devices were first unveiled in September as a way to generate $350 million for the new Vikings stadium in downtown Minneapolis, but revenues have been disappointing so far – an estimated $16 million compared to a project $34 million for the current fiscal year, officials have said.

Next Up

Mohamed Ibrahim

Missed PAT seals Gophers' fate against Maryland

Mohamed Ibrahim tied a school record with four touchdowns, but the Gophers lost in overtime.

dnr trout stocking helicopter

DNR uses a helicopter to more efficiently stock lakes with trout

In the past, the DNR used airplanes to stock remote lakes with fish, but the survival rate of the fish was only 85%.

steve simon zoom call

Secretary of State explains plans for segregated absentee ballots

Election officials are reminding voters that it's too late to mail in your absentee ballots.

Halloween, trick-or-treating

Osterholm on safe trick-or-treating: 'I would say go ahead with it'

The infectious disease expert's opinion doesn't align with the CDC's guidance.

drop and go ballot plymouth

It's too late to mail your ballot, but you can still vote. Here's how.

Voters can drop off their absentee ballot, vote early in-person or head to the polls on Election Day.

2019-12-11 f1rst Wrestling Hanukka Havok-Darin Kamnetz-154

Dusting itself off after virus blow, F1rst Wrestling returns to the ring this Sunday

Minnesota's premier independent wrestling company was on top of the world before the virus hit.


McDonald's is bringing the McRib back in December

It hasn't appeared on menus for eight years.

Apple Valley High School

2 more Twin Cities districts moving to distance learning for grades 6-12

The decision was announced as infection rates in Dakota County rise.

covid-19 testing site sign

Here are the 4 free COVID-19 testing sites in MN for the week of Nov. 2

People don't need to have symptoms or insurance to get tested for free.