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III ,?_ -AIREN jiILLS MEMORANDUM DATE: February 1, 2012 EDC Agenda Item 4.A TO: Economic Development Commission Chair and Commissioners FROM: Jill Hutmacher, Community Development Director J 1.' SUBJECT: TCAAP and Stadium Development Update On Thursday, January 5, Governor Dayton sent a letter to Rafael Ortega, Chair of the Ramsey County Board of Commissioners, setting a deadline of 5:00 p.m. on Thursday, January 12, for the submission of Ramsey County's final stadium proposal. A similar letter was sent to R.T. Rybak, Mayor of Minneapolis. Proposals were submitted for sites in Arden Hills, Minneapolis, and Shakopee. Since the January 12 deadline, the Basilica (Linden Avenue) site has been eliminated from consideration for the time being due to concerns raised by the Basilica of St. 0 Mary. Last week, Governor Dayton announced that the only site that remained feasible for a stadium deal during this legislative session is the Metrodome. Some legislators support, and some legislators dispute that conclusion. On January 29, seven of thirteen Minneapolis Councilmembers expressed opposition to Mayor Rybak's funding plan for a new stadium. Councilmembers explained that they cannot support a plan to contribute more than $300 million to a stadium in Minneapolis without a referendum. Rybak's current proposal would need a legislative override of a city charter amendment passed in 1997 that requires a citywide vote to approve any expenditure of city resources over $10 million for a professional sports facility. • City of Arden Hills Economic Development Commission February 1, 2012 Page 1of1