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Governor Signs Twins' Ballpark Bill

ST. PAUL, MN-Numerous hurdles remain for the $330-million ballpark to be built in time for the 2006 season, including finding a site. However, the state capital is the frontrunner for the ballpark.

By Jim McCartney | Updated on May 24, 2002

ST. PAUL, MN-Minnesota Gov. Jesse Ventura recently approved the $330-million ballpark bill passed by the Minnesota Legislature. If all the pieces fall together, the open-air natural-grass stadium–to be built with a retractable roof or ready for one–would go up in the Twin Cities metropolitan area in time for the 2006 season.

The ballpark would replace the 20-year-old Metrodome in Downtown Minneapolis.

Ventura had opposed state subsidies for a sports stadium, and the new bill follows his staff’s proposal that the state act as a banker for the deal. The Twins would contribute $120 million up front and $10 million annually for rent as part of a 30-year lease to usethe ballpark, while the state would issue up to $330 million in revenue bonds. Arbitrage earning on the Twins’ up-front money would help pay off the bonds.

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