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  • Minnesota Vikings Inch Closer To New Stadium As Concerns About Funding Continue

Minnesota Vikings Inch Closer To New Stadium As Concerns About Funding Continue

Kelly Phillips ErbMay 8, 2012

Last night, the Minnesota House voted 73-58 to approve a public-private venture to build a new football stadium. The move happened after lawmakers adjusted the private contribution piece to a higher number, requiring the team’s owners to kick in more of their own funds and lessening the burden on taxpayers in the state of Minnesota and the city of Minneapolis.

So, now it’s full steam ahead to the Senate, right?

Not exactly. The deal that passed the House boosted the team’s contribution by $105 million to $532 million, representing over half of the cost. The state of Minnesota and the city of Minneapolis would kick in the rest. However, the Star Tribune is reporting that a spokesperson from the team has termed the deal “not workable.” The team’s owners want to see their contribution drop. That’s not likely to happen.

Republicans in the Senate are balking at the cost of the subsidy to the public, noting that these are difficult economic times. They warned their colleagues in the legislature to not be blinded by flashes of purple and gold and to think about the cost to taxpayers.

The debate in the Senate is expected to go on all day.

For more on this story – including the history behind the push for the new stadium – check out my prior post.

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Kelly Phillips Erb
Kelly Phillips Erb is a tax attorney, tax writer, and podcaster.
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