Less than 24 hours after a "committee of the whole" on the Minneapolis City Council voted 7-6 to approve the city's portion of financing on the Vikings stadium bill, the council ratified Thursday's vote.
The ratification Friday morning by the Minneapolis City Council was the final vote needed to push the Vikings stadium planning process into high gear after the Minnesota House and Senate approved the state's end of financing earlier in May and the Vikings agreed to their $477 million contribution to the project.
Friday's city council vote approved the shift in sales taxes in Minneapolis from the convention center to the Vikings stadium and Target Center renovation. The stadium will receive $150 million in construction costs from Minneapolis taxes, along with $159 million in future operating costs. That money will come from existing general sales taxes, as well as taxes on restaurants, liquor sales and hotel rooms.
Even some supporters of the project in the slim 7-6 vote were hesitant to provide funding for an NFL stadium, but said the 7,500 jobs that will be created by the construction project garnered their favor.
The state will contribute $348 million to the new stadium through proceeds from electronic pull tabs and bingo as part of an expansion in charitable gambling.
Construction on the new stadium on the existing Metrodome site is expected to start early in 2013.
Tim Yotter is the publisher of Viking Update. Follow Viking Update on Twitter and discuss this topic on our message boards. To become a subscriber to the Viking Update web site or magazine, click here.
Stadium approved with council ratification
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