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  • Lanning-Rosen Letter

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    20111215 Lanning-Rosen Letter

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    12K views14 pages

    Lanning-Rosen Letter

    Uploaded by

    tom_scheck

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF or read online from Scribd
    Flag for inappropriate content
    of 14
    TONY BENNETT BOARD OF RAMSEY COUNTY COMMISSIONERS DISTRICT 1 JOE MURPHY ASSISTANT 10 COMMISSIONER December 15, 2011 SANT PAUL. MINNESOTASSIEE ‘ek (en zee Fak (a 3eee0 Representative Morrie Lanning Senator Julie Rosen 379 State Office Building 322 Capitol Saint Paul, MN 55155 Saint Paul, MN 55155 Dear Representative Lanning and Senator Rosen: ‘The purpose of this letter is to respond to legislative inquiries regarding the proposed financing of a multi-use, public-purpose sports stadium in Arden Hills, Minnesota, that will be the home venue of the Minnesota Vikings football team. Our proposal also includes remediation and redevelopment of the 430-acre TCAAP property, an environmental ‘Superfund site, with much needed and long overdue transportation improvements in the -35W/I1-694 transportation corridor. At two Senate Tax Committee hearings, held November 29, 2011, and December 6, 2011, Ramsey County officials were asked whether we will be proposing a new funding source for a local share of public financing costs. We greatly appreciated the opportunity to speak with members of the joint Senate committees and are pleased to offer additional information now regarding our project proposal. We continue to believe that the Vikings are a state asset and our preference is for a statewide funding solution for the people's stadium. However, because we believe in the viability of the Arden Hills site, we are willing to put forth funding alternatives beyond the earlier sales tax proposals that were removed from consideration by state officials earlier this year. Ramsey County has re-evaluated all potential revenue sources that may be available to provide suitable, stable funding for project costs. As you know, various revenue sources have been authorized in previous legistation for numerous cities and counties in Minnesota. This included authorizations for special local taxes on food and beverages, liquor, lodging, entertainment and admissions that do not have local referenda requirements by state statutes. To fund the local partner share of the stadium project, Ramsey County proposes a countywide 3% food and beverage tax. This will raise approximately $24 million per year to finance up to $350 milion in capital contributions. This food and beverage tax would be ‘comparable to the same tax now levied in Minneapolis, and would equalize the tax for both Twin Cities. This is the only viable financing plan on the table, and the only plan that would make the local share available immediately. Additionally, itis the only plan that has alread been negotiated with the Vikings Minnesota's First Home Rule County

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