Vikings StadiumPossible Use of General Obligation Bonds as a Funding SourceFinancial Details:
State financial commitment is $250 million. Additional financial
contribution related to the construction of a fixed roof TBD. State will issue
General Obligation bonds for costs associated with infrastructure. Cost of
finance for roof TBD.
City of Minneapolis financial commitment is $150 million, remains
unchanged from current bill. Bill language grants city of Minneapolis
flexibility in future use of convention center tax.
Vikings commitment is TBD.Vikings authorized to keep revenues gained
from naming rights, ticket fees, etc.
Other costs, partnerships TBD.
Stadium Authority would likely oversee the construction of the stadium, in
consultation with Vikings and city of Minneapolis
Stadium includes a fixed roof, with the option for the Vikings to pay the
additional costs for a retractable roof
State financial commitment will pay costs associated with the infrastructure.
Roof financing TBD.
Financing with GO Bonds:
Relies on stable funding source rather than unproven future gaming revenues
Reduces overall cost of project because interest rates on GO bonds is lower
than appropriation bonds
Improves funding mechanism, while keeping most of the previous proposal
Bonding bill will include statewide projects focusing on roads, bridge and
Additional information required for use of GO bonds.