![]() ![]() Tax revenue from the tabs went to make the annual debt payments on the building of about $30 million, a number that included the first few years of payments for Minneapolis. In 2012, as part of the legislation to build the stadium, the state legalized electronic pulltabs. Most of the money for the building's bond payoff, $366 million, already is in the stadium reserve fund. ![]() Designs for that perimeter are expected to be public next month and the Minnesota Sports Facilities Authority (MSFA) will discuss the project at its monthly meeting Friday. The Legislature and Walz also agreed to pay $15.7 million for the first phase of a new secure perimeter at the stadium. It is a significant accomplishment that the Vikings have been advocating for several years." Vikings Vice President Lester Bagley said the decision is "great news and the latest chapter in a success story that has benefited Vikings fans, the City of Minneapolis and the State of Minnesota. The bill passed the House last weekend and the Senate on Monday. While the effort to build the stadium took years of fraught discussions and full-press lobbying by the Vikings, the early payoff was tucked into a giant bill that included $3 billion in tax cuts and $1 billion in new tax revenue. The governor didn't even mention it at his bill-signing celebration on the Capitol lawn Wednesday. In a session full of big changes, the stadium payoff passed without much attention or friction. The governor proposed the payoff in his budget in January. "I don't like having that debt out there," Walz said. The bonds, which have an interest rate of 4.25%, were scheduled to be paid off in 2046. ![]() Tim Walz this week.īy the end of June, the state will have retired $377 million in outstanding bonds on the building, saving taxpayers $226 million in interest. Bank Stadium will be paid off long before the Minnesota Vikings play their first preseason home game in August, under the tax bill signed by Gov. ![]()
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