Mpls considers $35 million tax subsidy for Vikings stadium plaza

Author:
Updated:
Original:

The city of Minneapolis is considering a $35 million tax subsidy over 25 years to build a plaza next to the new Minnesota Vikings stadium, the Star Tribune reports.

The subsidy would benefit a Ryan Companies development that includes 460 apartments and 1 million square feet of retail and office space.

Although the company has not formally requested the tax increment financing (TIF), Ryan is in exclusive negotiations over four blocks of Star Tribune-owned land on the eastern edge of downtown.

John Stiles, a spokesman for Mayor R.T. Rybak, tells the newspaper the mayor is excited about the possibility of the project and is open to all funding options.

Next Up

Herb Brooks statue

Trump's planned statue garden would include 2 Minnesotans, others with MN links

But there were some notable names absent from the wide-ranging and eclectic list.

k9 zeke

Petition seeks to allow retired Corcoran officer to keep K9 partner

Corcoran's public safety director says if K9 Zeke is donated to the officer it will be a loss for the department.

covid

Here is Minnesota's COVID-19 update for Monday, Jan. 18

The latest update from the Minnesota Department of Health.

Tom Kelly Jr.

Tom Kelly Jr., son of Twins World Series manager, dies at 42

He was a member of the 2001 UST national championship team.

Hennepin County CSI

Police: Man shot in the head by woman in Richfield

It happened in the early hours of Monday.

University of St. Thomas

St. Thomas students robbed by suspects in ski masks

Nobody was injured in the early Saturday incident.

mn state capitol january 17 2021

Amid huge police presence, weekend rallies at state Capitol were tiny and peaceful

Officials across the U.S. remain on alert for possible violence ahead of President-elect Joe Biden's inauguration on Jan. 20.

Related

Architecture bids in on Vikings stadium

Five national architectural and engineering firms have submitted renderings and plans for a new $975 million Vikings stadium. The finalists include Kansas City-based Populous, formerly known as HOK Sport, the company that designed new homes for the Minnesota Twins, Wild and University of Minnesota football team.

Vikings stadium taxes worry charities

Charities that hoped the Vikings stadium deal would bring them tax relief now worry that they may actually wind up paying more. The deal contains several tax changes that charities had requested. But the overall tax structure, which favors charities using games with higher payout rates, concerns many.

Mpls. city council majority opposes Rybak's plan to fund stadium

Seven of the thirteen council members say they would not support the plan to raise more than $300 million for a Vikings stadium unless it was approved by voters. Mayor R.T. Rybak says there won't be a referendum and he thinks some council members may still change their thinking.

Vikings tap Madison firm to oversee stadium construction

So much for border battles. The public board teaming with the Minnesota Vikings to build a nearly $1 billion downtown Minneapolis stadium turned to a Wisconsin firm Friday to bird-dog construction. Hammes Co., based in Madison, was selected by the Minnesota Sports Facilities Authority from more than a dozen applicants to serve as the authority's owner's representative on the project.

Ramsey officials pitch new stadium tax idea

Ramsey County Commissioners Tony Bennett and Rafael Ortega have requested a meeting with state lawmakers to discuss a new Vikings stadium proposal, which would include a countywide 3 percent food, beverage and liquor tax.

Minneapolis council not keen on Rybak's stadium plan

Never mind the Legislature, Mayor R.T. Rybak may not be able to get his stadium proposal past Minneapolis' city council. Council members were underwhelmed by the mayor's presentation of a plan that would apply city sales tax money to a Vikings stadium once Minneapolis' convention center is paid off. A head count by the Downtown Journal finds Rybak lacks the votes to pass it right now.