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View Full Version : I Have Some Questions On The Stadium



COJOMAY
07-05-2007, 12:46 PM
Here's some questions I have that I have never seen an answer for concerning the Metrodome and the new Vikings stadium...
1. Who owns the Metrodome? Is it Hennepin County, The Sports Commission, the State of Minnesota? The Vikings and Twins and U Of M?
2. What is the value of the Metrodome? I mean, if it was sold who gets the money and how much?
3. If the Vikings build another stadium nearby the dome with the help of whatever agency, (preferably the one who owns the original dome) can not the agency owning the Metrodome sell the property to help fund the stadium debt?
4. If the area is going to be used for parking then the agency that that owns it can have the parking concession. It make a heck of a lot more money that the Metrodome probably and they can use that money to help fund the new stadium.
I guess I'm looking at this simplistically but if you have property that is worth something, use it to help with the funding.

NodakPaul
07-05-2007, 01:10 PM
1. Who owns the Metrodome? Is it Hennepin County, The Sports Commission, the State of Minnesota? The Vikings and Twins and U Of M?

It is owned by the state of Minnesota, operated by the Sports Commission, and leased by the Vikings and Twins.

2. What is the value of the Metrodome? I mean, if it was sold who gets the money and how much?

3. If the Vikings build another stadium nearby the dome with the help of whatever agency, (preferably the one who owns the original dome) can not the agency owning the Metrodome sell the property to help fund the stadium debt?

I think the value of it is somewhere around $50 mil.
In 2005 when the Twins and UoM stadiums were passed, a provision was introduced that would put $5 mil to Hennepin County for the Twins Stadium and the rest towards a future Vikings Stadium.
link (http://www.twinsballpark.org/index.asp?Type=B_PR&SEC=%7B785FF305-BA46-4FC6-B0A8-7F6CF4D2A687%7D&DE=%7BE749C05F-50C1-41AA-82E9-6737757CB420%7D)

Other provisions of the Twins proposal, as adopted by the House, included giving $5 million from the eventual sale of the Metrodome to Hennepin County to offset grants for capital improvement reserves related to the Twins stadium project. The remainder of the proceeds from the Metrodome's sale, the proposal stated, would be to pay debt service on any bonds used in the future to help build a new Vikings stadium.

4. If the area is going to be used for parking then the agency that that owns it can have the parking concession. It make a heck of a lot more money that the Metrodome probably and they can use that money to help fund the new stadium.
I guess I'm looking at this simplistically but if you have property that is worth something, use it to help with the funding.

I am in total agreement with you here.