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Horner offers principles on new Vikes stadium

Tom Horner joined WCCO host and well-known sports reporter Michele Tafoya in studio on Thursday afternoon as he laid out his principles for a new Vikings stadium.

Associated Press reporter Jon Krawczynski also penned this article Thursday afternoon on Horner's proposals.

Legislators have ducked this issue for years because it's controversial, Horner added in a release. But Minnesotans and the Vikings deserve an answer. Avoiding tough issues isn't an option for Minnesota if we are going to build a stronger state.

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Horner's four principles for resolving the stadium issue are as follows:

Timing The stadium decision needs to be made during the 2011 legislative session. However, funds for the stadium will not come at the expense of funding core services, including economic development and job creation, education, health care, human services, infrastructure, and the environment. Also, the NFL has to resolve it's collective bargaining agreement with the players union before any construction begins. The current collective bargaining agreement expires in March 2011.

Partnership A plan will require a cooperative effort among the Vikings, NFL, business community, and public. The Vikings must commit to providing taxpayers with greater security at lower cost by signing a 40-year lease, paying 40 percent of the costs and paying one-third of a new stadiums operating costs. Such commitments would demonstrate leadership from the Vikings and go beyond what other teams have done. In addition, the public owners of a new stadium will receive all the revenue from all non-Vikings events, including ticket sales, concessions, suites rentals and in-stadium advertising

Funding Those who benefit most from a new stadium should pay more for it's construction. Multiple funding options need to be considered to meet the estimated $32-to-$34 million per year state cost on 40-year bonds. Funding needs to come from a statewide source that does not include income, sales or property taxes. Options could include a ticket tax on all stadium events including Vikings games, revenues from a Racino, and stadium revenues from non-Vikings events including concessions, advertising, and suite sales. While the Minnesota Twins, for example, get to keep all revenue from non-Twins events at Target Field, it is the public that should and will capture the benefit of a Vikings stadium for all non-Vikings related events like concerts, a Super Bowl, Final Four, or conventions.

Equity Interest If the team is sold, any increase in the value of the team that is gained by ownership would be shared proportionately with taxpayers on the basis of their contribution. This would remain in effect until the stadium is paid in full.

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Posted in Law Post Date 12/15/2017


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