Dec 20, 2005 10:57 am US/Central
Deadlines Near For MN Sports Stadium Plans
St. Paul (AP) ―
The University of Minnesota expects to get an extension from a major football stadium donor, giving the school more time to win legislative approval for the planned on-campus facility.
University chief financial officer Richard Pfutzenreuter said Monday that negotiations with TCF Bank could be concluded within the next few days. TCF has pledged $35 million for naming rights on the $248 million complex. There has been a Dec. 31 expiration date on the deal.
"We have every indication they'll do an extension," Pfutzenreuter said. "Our relationship with TCF on all fronts has been very good."
The university hopes to secure state money for 40 percent of the stadium's cost during the 2006 session. The rest would come from private donors and student fees.
Meanwhile, the Minnesota Twins have a Dec. 31 deadline of their own in their hunt for a publicly subsidized ballpark in Minneapolis.
The team and Hennepin County officials are frustrated by the lack of action on their plan. They needed state approval for the county to impose a higher sales tax, which is a major component of the $508 million ballpark proposal.
The county board's lead stadium supporter, Mike Opat, said the agreement will be allowed to expire because the Twins have battled to build a subsidized ballpark for 10 years and have been forced to go back to the drawing board each time.
"How many times can you push a rock up a hill?" Opat said, referring to the Greek myth of Sisyphus.
Opat said the agreement would be revived only if Gov. Tim Pawlenty and legislative leaders clearly said the chances of approval at the Capitol are very good.
The partners in the Twins plan want an exemption from a state law requiring a referendum for the local sales tax. They say it will add more delays and expenses, while opponents argue supporters are afraid of losing that vote.
Both proposals sat on the shelf last year when deliberations over the state budget stretched well into July. Discussions about a fall special session went nowhere, and lawmakers aren't due back to St. Paul until March 1.
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The Metrodome replaced Met Stadium, which used to be in Bloomington. The Mall of America now stands in that site.
(© 2009 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)
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