Posts Tagged ‘twins’

New Twins Stadium Officially Named Target Field… zzzzzzzzzz

I’ve got nothing new to add to this conversation, but… really? Target Field? Which connects to the existing Target Center with the new Target Plaza? Seriously?!

I like Target as much as the next buppie. I don’t find this offensive in any way. I don’t even dislike it. It’s just boring as fuck. Calling it “savvy” is generous. Smart. Reasonable. Predictable. Feel-Good. All of those. But let’s not get too crazy.

One could argue plunking down again for naming rights constitutes a solid commitment to the community in which the Target Corporation is HQed. I’m still wondering on the status of their proposed move from downtown Minneapolis to a new Brooklyn Park corporate campus.

The best part is, after all the hubbub over the possible Land O’ Lakes Field naming based solely on domain ownership, someone else who’s not Target or the Twins already owns TargetField.com. Heh!

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)]

New Twins Park Name? Not Yet.

The folks at Stick and Ball Guy turned up a possibility that Land O’ Lakes got the naming rights, generating further interest and leading to a statement from the Twins that they’re nowhere close to finalizing a naming rights deal.

In the event that Land O’ Lakes does win out, Jason DeRusha suggests calling it the Butter Tub. Personally, I’m partial to “field” over “park” and I’m still pulling for General Mills to win the naming rights. Wheaties Field would be sweet.

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