Posted at 9:40 AM on October 12, 2011
by Paul Tosto
Filed under: Sport
The Metropolitan Council today is set to release its feasibility study on the proposed Vikings stadium site at Arden Hills. MPR News reporters got the document last night, though, so we know what it says.
Here's a link to the full document. Post below if anything jumps out at you.
The document doesn't take a position on whether the stadium should go up in Arden Hills. But it sure seems to throw a wave of cold water on it.
Time line for building a new stadium is too aggressive and would lead to cost overruns of $46 million a year.
Ramsey County and the Vikings have miscalculated the amount of time it will take to get the environmental review and permitting completed.
Vikings and Ramsey County have not identified how to pay for $39 million of project costs in the $1.111 billion proposal; when the funding gap and a one-year delay are included, the price of the stadium goes up by $85 million to $1.196 billion.
Ramsey County would be liable for $58 million in cost overruns - financing that they didn't account for in a plan to increase the county's sales tax.
Met Council folks will talk about the report at 10:30 this morning