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Ventura Offers State Bonds for Twins Ballpark

ST. PAUL, MN-The governor weighs in with his own ballpark financing plan for the Minnesota Twins that uses the state's bonding authority, but calls for no tax support. The House and the Senate each have their own bills in the works to finance a new $330-million ballpark.

By Jim McCartney | Updated on March 15, 2002

ST. PAUL, MN-A new ballpark financing plan has been proposed, this time by Gov. Jesse Ventura, who suggests the Minnesota Twins be allowed to use the state’s borrowing authority — but their own money — to build a $330-million ballpark. The plan calls for the state to finance a stadium by issuing $330 million in taxable revenue bonds.

The team would be required to give the state half of the cost — $165 million — and to contribute $10 million per year. Interest earned on the Twins’ gift payment, plus the $10 million the team would contribute each year, would be used to pay the interest and principal payments over a 30-year period.

Ventura says he will not support a bill that raises an existing state tax or creates a new state tax to pay for a baseball stadium.

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