3A, TCAAP Stadium Update - Laserfiche WebLink

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�ebruary 10, 2t?12 Page 2 that is well within the project budget, further protecting taxpayers. This i� the fourth vate taken by our Board to keep this project moving forward on time and on budget. No other elected body has yet taken an affirmative vote on any other stadium proposal. We have always believed that the Vikings ar�, and this stadium will be, a statewide asset and should be funded with a statewide source of revenue. 8ut given the State's ir�sistence on a local funding share, we have come up with a third alternative that would contribute a significant share of the overall project cost, up to $20.6 million each year that the State could use for operations and capitat costs. Those sources from user fess and other site-specific revenues include: • Stadium parking rev�nue5. • Parking fot naming rights. • An admissions surcharge. • Sales fax growth collected at th� new stadium. • Stadium district (TCAAP property) user fees comparable ta those collected in Minneapolis. • Business property taxes on ancilfary development at the TCAAP site. • Debt service far TCAAP land acquisition and remediation. We remain strongly canvinced that the TCAAP site in Arden Hills is #he best location for a People's Stadium, and is, in fact, the overwhelming choice of Minnesotans. The praject will pravide rnuch-needed upgrao Wp�� mm�°diate St and eturn faflow and�ta produ c ve use and to thousands of Minnesotans t Y the property tax rolls. We laok forward to meeting with you a# your earliest convenience to discuss this praposa! in greater detail and to get this project moving for the people of Minnesota. Sincerely, --.-- � , Com issioner Rafael E. O ga Cha�r, Ramsey County Board of Cammissioners cc: Ramsey County Board of Cammissioners