FanPost

Vikings, Ramsey County Propose Finance Plan for Arden Hills Road Improvements


I Just recieved this from Minnesota Momentum

The Vikings and Ramsey County proposed a joint user-based finance proposal on Monday
to fund necessary off-site transportation needs to support a new stadium in Arden
Hills. Despite the fact that many of the long-term road improvements will serve a
much broader public purpose and help address transportation needs for the entire
region regardless of a stadium, the plan follows the theme of "those who use or
benefit from the stadium pay."

More after the jump....
To view / download a PDF that outlines the infrastructure
financing discussion in more detail follow this link:
http://activ8.convio.net/site/R?i=c6b-povyKBCZKcpies6s7A..

"We continue to respond to every request State leaders make, "said Vikings Vice
President Lester Bagley. "We found a strong local partner and the best stadium site,
made significant financial commitments from both the team and the County, and now we
have provided a creative finance proposal to resolve the off-site
transportation needs."

Those transportation needs are estimated to cost between $110 and $131 million by
the Minnesota Department of Transportation (MnDOT). To close that gap, the
Vikings-Ramsey County plan unveiled on Monday will generate up to $81 million in
user-based funding and rely on regional and federal transportation-related grants
and sales tax exemptions on road construction materials for the remaining $50
million. The proposal presents two options - one that involves Ramsey County
issuing bonds and the other that involves an interest-free advance from MnDOT. 

Vikings ownership also held productive meetings with Governor Dayton and legislative
leaders on Tuesday regarding the latest on the Arden Hills stadium proposal. The
team continues to prepare for a stadium discussion during a special session.

"We are confident that when the legislature and the governor are ready to consider a
stadium proposal as part of a special session, we will have a comprehensive package
in front of them," said Bagley.

If you have any questions, please email minnesotamomentum@vikings.nfl.net. 

Thank you for your support!

Sincerely,

Minnesota Momentum

This FanPost was created by a registered user of The Daily Norseman, and does not necessarily reflect the views of the staff of the site. However, since this is a community, that view is no less important.

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