MINNEAPOLIS, May 10 (Reuters) - The Minnesota Vikings on Tuesday backed a nearly $1.1 billion plan to build a football stadium in a Twin Cities suburb which state officials said would also require hundreds of millions in road improvements.
The National Football League team and Ramsey County said they planned a retractable-roof stadium in the northern suburb of Arden Hills on the site of a shuttered munitions factory.
"An opportunity like this in such a location so close to both St. Paul and Minneapolis and the entire metro region was too compelling to pass up," Vikings owner Zygi Wilf told reporters in a news conference that was webcast.
The site is ideal for a "day-long NFL experience" with some 21,000 parking spaces providing room for tailgating and grassy areas for touch-football games, Wilf said.
The plan rivals one announced on Monday by Minneapolis officials for an $895 million overhaul of the Metrodome site where the Vikings have played since 1982. Either plan would require approval from the Minnesota Legislature.
The Metrodome's inflatable roof collapsed in a winter snowstorm in December and is being replaced.
The suburban plan calls for an $884 million publicly owned stadium and $173 million of on-site infrastructure, parking and environmental costs. The team would pay for cost overruns, operate the stadium and commit to a 30-year lease.
State officials said the Arden Hills site would require from $175 million to $240 million of road improvements. Governor Mark Dayton has said the state's contribution would have to be held at $300 million for either site.
Ramsey County officials said Tuesday that the road improvements would be required with or without the stadium. They also said they looked to work with state legislators to get approval for the project and meet the road improvement needs.
The Vikings would commit $407 million, or 39 percent of the projected cost. Ramsey County would contribute $350 million, issuing bonds backed by a 0.5 percent sales tax increase, and the state would commit $300 million, the team and county said.
The Vikings said they hoped to attract a Major League Soccer franchise to the stadium and believed it could host a Super Bowl, a college football bowl game, the NCAA basketball championships and other events.
The Minneapolis plan would require the Vikings to cover 45 percent of the cost, or $400 million. The state would cover $300 million and Minneapolis $195 million.
The Vikings raised concerns with some of the Minneapolis plan. The city's share would be paid for with bonds backed by a tax on tickets, parking fees, restaurant and liquor taxes, a 0.15 percent city sales tax and the use of other tax revenue.
Minnesota would pay for its share of either plan through a professional sports memorabilia tax, a sales tax on stadium suites and direct satellite services, as well as a sports-themed state lottery game.
The National Football League team and Ramsey County said they planned a retractable-roof stadium in the northern suburb of Arden Hills on the site of a shuttered munitions factory.
"An opportunity like this in such a location so close to both St. Paul and Minneapolis and the entire metro region was too compelling to pass up," Vikings owner Zygi Wilf told reporters in a news conference that was webcast.
The site is ideal for a "day-long NFL experience" with some 21,000 parking spaces providing room for tailgating and grassy areas for touch-football games, Wilf said.
The plan rivals one announced on Monday by Minneapolis officials for an $895 million overhaul of the Metrodome site where the Vikings have played since 1982. Either plan would require approval from the Minnesota Legislature.
The Metrodome's inflatable roof collapsed in a winter snowstorm in December and is being replaced.
The suburban plan calls for an $884 million publicly owned stadium and $173 million of on-site infrastructure, parking and environmental costs. The team would pay for cost overruns, operate the stadium and commit to a 30-year lease.
State officials said the Arden Hills site would require from $175 million to $240 million of road improvements. Governor Mark Dayton has said the state's contribution would have to be held at $300 million for either site.
Ramsey County officials said Tuesday that the road improvements would be required with or without the stadium. They also said they looked to work with state legislators to get approval for the project and meet the road improvement needs.
The Vikings would commit $407 million, or 39 percent of the projected cost. Ramsey County would contribute $350 million, issuing bonds backed by a 0.5 percent sales tax increase, and the state would commit $300 million, the team and county said.
The Vikings said they hoped to attract a Major League Soccer franchise to the stadium and believed it could host a Super Bowl, a college football bowl game, the NCAA basketball championships and other events.
The Minneapolis plan would require the Vikings to cover 45 percent of the cost, or $400 million. The state would cover $300 million and Minneapolis $195 million.
The Vikings raised concerns with some of the Minneapolis plan. The city's share would be paid for with bonds backed by a tax on tickets, parking fees, restaurant and liquor taxes, a 0.15 percent city sales tax and the use of other tax revenue.
Minnesota would pay for its share of either plan through a professional sports memorabilia tax, a sales tax on stadium suites and direct satellite services, as well as a sports-themed state lottery game.
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