The bill, introduced by 28-year-old Republican House member Brad Finstad, passed 17-5 in the House Government Operations and Veterans Affairs Committee this week. More importantly for the bill, an amendment was defeated that would have allowed county voters to decide the deal--a deal breaker for Twins officials, who said a referendum would be too costly and time-consuming. Opponents say the Twins fear the taxpayers will vote down the deal.

The financing plan for the 42,000-seat stadium, which was recently approved by the Hennepin County Board, would include a $125 million investment from Twins owner Carl Pohlad, with the rest coming from an additional 0.15% county sales tax. The stadium plan will next go to the House Local Government Committee.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.