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MYTH VS. REALITY -ARDEN HILLS STADIUM SITE • The pulblic is well-protected by this agreement. The 'ikings will cover all cost overruns on stadium construction and a portion of any cost overruns on land acquisition and rernediation. • Thera is a profit- sharing agreement if the team is sold within 10 years. • The Vikings will operate and maintain the facility under the direction of a pulblic stadium aulth�ority and pay approximately 90 percent of operating and maintenance expenses. • The Vikings will commit to a 3,0-year lease and pay for all m�uln�icipal services, including police, traffic, fire, trash removal, etc. The lease will have no early termination provisions and will not allow the Vikinigs to relocate. MYTH #4: The proposed 0.5 percent sales tax increase in Ramsey Couln�ty will make it difficullt for businesses in the couln�ty to compete. REALITY: • Even with a half -cent sales tax to fund stadium development, it will still be cheaper to buy a hamburger and cup of coffee in St. Paull than it already is in Minneapolis. The sales tax increase is equlivalen�t to a nickel on a $10 purr hale. The rate comparison: • Minneapolis: 10.775% (with food and beverage tax, current) • St. Paull: 8.125% (with proposed 1/2 cent stadium tax) • Suburban Ramsey Couln�ty: 7.625% (with proposed 1/2 cent stadium tax) • Suburban Hennepin Couln�ty: 7.275% (culrrent) MYTH #5: There is no evidence that bulildin�g a new stadium will help the economy. REALITY: 0 This project will support 13,,000 fulll- and part -time jobs, including 7,500 construction jobs, over a three -year construction period. • The stadium will requlire 4,.2 million work h�oulrs, including 900,000 in the first 12 months and generate more than $286 million in construction wages and $10 million in income taxes. • Off -site improvements will create a substantial n�ulm�ber of additional jobs. Once the stadium is completed in 2015, it will sulpport 3,,4,00 ongoing fulll- and part -time jobs with more than $100 million in personal earnings, according to Conventions, Sports & Leisure International. • Private development of nearby properties, both on the TCAAP site and across the northern sulbulrbs, will generate new jobs and ongoing positive economic impacts for the regioni. MYTH #6: (Money spent by fans attending a football game wound be spent in the com�m�uln�ity in another way if there wasn't a football team and stadium in the Twin Cities. EF1 Prepared by Ramsey County I Updated July 8, 2011