Grand Casino Arena Renovation Plan Unveiled
The city of St. Paul has unveiled a new plan for the renovation of the Grand Casino Arena, which would cost a total of $600 million. The plan includes a $200 million request to the state Legislature, as well as contributions from the city and the Minnesota Wild.
The arena, which has been the home of the Wild since 2000, is in need of an update, according to team owner Craig Leipold. “Like any 25-year-old building, it’s ready for an update and we’re ready to invest in the fan and visitor experience, in the event space, in safety and accessibility,” he said.
Funding Plan
The funding plan for the renovation includes a $200 million request to the state Legislature, which would be used to cover a portion of the costs. The city would also contribute $162.5 million, which would be financed through an extension of the existing half-cent sales tax. The Wild would also contribute $162.5 million, and would be responsible for any cost overruns.
The remaining $75 million would be used to fund the modernization of the Roy Wilkins Auditorium, which is part of the arena complex. The city has indicated that it would work with the Wild to figure out how to cover this remaining cost.
Lease Extension
As part of the agreement, the Wild would agree to a lease extension, which would keep the team in St. Paul until 2061. The city’s existing half-cent sales tax would also be extended until 2061.
Mayor Her noted that the arena is one of the largest city-owned assets, and that it is important to invest in its upkeep. “Grand Casino Arena is one of the largest city-owned assets, and we are responsible for making sure it continues to anchor our downtown and economy,” she said.
Legislative Approval
The plan will need to be approved by the state Legislature, which could be a challenge. The Legislature has been cool to requests for public funding for professional sports facilities in the past, and it is unclear whether they will approve the $200 million request.
However, Mayor Her is optimistic that the plan will be approved. “Now we will take this proposal to the Legislature and ask for their support. I look forward to that conversation,” she said.
The city has already begun reaching out to lawmakers to discuss the plan, and the mayor’s office has emphasized that the arena is not just a sports facility, but also a convention center and a gathering place for the community.
Economic Impact
The renovation of the Grand Casino Arena is expected to have a significant economic impact on the city of St. Paul. The arena is already a major driver of economic activity, hosting over 150 events per year and generating millions of dollars in revenue.
The renovation is expected to increase the arena’s economic impact, by making it a more attractive venue for events and concerts. The city is also hoping to attract more businesses and residents to the area, by making it a more vibrant and exciting place to be.
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Conclusion
The renovation of the Grand Casino Arena is a major project that has the potential to have a significant impact on the city of St. Paul. The funding plan, which includes a $200 million request to the state Legislature, is a key part of the project, and it will be important to watch how it plays out in the coming months.
For now, the city is moving forward with the plan, and is optimistic that it will be approved by the Legislature. As the project moves forward, it will be important to keep an eye on how it is progressing, and what impact it is having on the city.
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