St. Paul made out all right in the end during negotiations over the Vikings stadium bill.
To sweeten the deal for St. Paul legislators, the city gets $2.7 million a year in the stadium bill. For 20 years. The city will use that money to pay off its RiverCentre debt.
“These funds will go a long way to help St. Paul further economic development and support critical infrastructure projects,” Mayor Chris Coleman said.
And while the bonding bill didn’t include the $27 million the city wanted to help pay for a regional baseball ballpark in Lowertown, there’s still a chance behind Door No. 2 — the bill’s $50 million pot of money created for city development projects. The ballpark would also be home to the St. Paul Saints.
Said the mayor:
“I am hopeful the Lowertown Ballpark will be one of the first projects funded with this money.
“The ballpark has been, and remains, the top bonding priority for the City of Saint Paul. It will create over 500 jobs, will bring 400,000 people to Lowertown every year, will serve as a hub for amateur sports, and will have an estimated economic impact of $10 million per year. We will continue to work closely with the governor’s office as this process moves forward. The bases are loaded, it’s the bottom of the ninth, and our star hitter is at the plate.”
After all the football metaphors tossed around and printed in the past few weeks, now we can use some baseball lingo for this upcoming stadium debate.
Two Cities blog, which covers Minneapolis and St. Paul City Halls, is made possible in part by grants from The Saint Paul Foundation and the Carolyn Foundation.