Aug 19, 2005 10:49 am US/Central
Sports Commission Votes For Loan For New Ballpark
Minneapolis (AP) ―
The Metrodome's landlord is ready to loan Hennepin County as much as $500,000 to help with costs in planning a new Minnesota Twins ballpark.
The Metropolitan Sports Facilities Commission voted Thursday to lend money for an environmental impact study, legal fees to negotiate a lease with the Twins and start-up costs of a new Ballpark Commission, which would operate the proposed stadium in downtown Minneapolis.
The proposed $478 million ballpark needs legislative approval before the county can enact a sales tax increase. There has been talk of a fall special session to take a stadium vote.
A county finance official said he is still researching whether the loan is permissible under the state law that governs the commission.
Dave Lawless, the county's budget and finance director, said the Twins and county are planning to share the costs of the environmental study, which could range from $400,000 to $600,000.
The sports facilities commission, which owns and operates the Dome, has a cash reserve of about $17 million.
If the Legislature doesn't approve a Twins stadium plan, Lawless said, the commission would be "at risk" of not being paid back for the environmental review.
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