Posts Tagged ‘MOA’

MOA Expansion Cost vs New Twins Stadium Cost

The latest numbers on the Twins stadium:

Cost: $544.4 million (including site acquisition and infrastructure)
Public financing: $392 million from a 0.15 percent sales tax in Hennepin County
Private financing: $152.4 million from the Twins

Those are ballpark figures (*ba DUM bum*). I also read $522/$387/130 + about $5/year for naming rights. Looks like the more recent the estimates, the higher all figures are.

The latest numbers on the MOA expansion:

Cost: $1.9-2.1 billion
Public financing: $371 million from a TBD sales/food/lodging tax in Bloomington
Private financing: $1.5-1.8 billion

Again, costing varies depending on the date of the article. Here’s what you get in Phase II of the MOA. Phase I puports to bring $1.8 billion/yr to the city of Bloomington. Slightly off topic, I wonder how this will affect the Waterpark of America.

Part of the hang up here is the financing of the parking ramp to the tune of $186-$204 million. The parking ramp funding will certainly have implications for whatever large projects follow it (like a Vikings Stadium).

But… just look at the disparity in public vs private financing. The only direct comparison of benefit I turned up in my cursory research is that the state expects to collect $10 million/year from ballpark-related sales and player income taxes. The MOA pays $55 million/year in state and local taxes.

Tell me how the relative cost of taxpayer burden is worth what the venture brings to the region (yes, I know it costs me personally about $30/year for the Twins stadium). I’ll add in my argument for the social and cultural benefit of having a common cause that unites us.

Maybe I should wait to see how they go about approving the tax in Bloomington before I come to a conclusion. Maybe the residents will get a choice in the matter.

[Hennepin County/Twins Ballpark Fact Sheet (pdf)]

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