It doesn't happen all that often, but we have somewhat contradictory spins
on whether the City Council will go for a $30 million Target Center
renovation - even quoting the same two council members. The Pioneer Press
story is optimistic the renovations will pass, the Strib, pessimistic. Can
someone reconcile the differences?
Here's the PP's version
(http://www.pioneerplanet.com/news/mtc_docs/035770.htm), yesterday:
The city council, whose members comprise the board of the city development
agency, probably will approve the Target renovation, council members Lisa
McDonald and Joan Campbell predicted.
Campbell said she'll vote for the overhaul as long as it doesn't jeopardize
the original financing of the $90 million area. McDonald said SFX was hired
to operate Target Center to help ward off the challenge from Xcel. SFX is
the nation's largest promoter. ``Now the question will be, `Do we think (the
renovation) also will keep us competitive with St. Paul?' I think we as
commissioners probably will look favorably on it,'' McDonald said.
Now the Strib's,
(http://www.startribune.com/stOnLine/cgi-bin/article?thisStory=82681033)
this morning:
Two council members questioned whether the city would be able to help SFX
pay for renovations.
Ways and Means Chairwoman Joan Campbell said she didn't want to jeopardize
the plan the city has for paying off the Target Center. The city borrowed
$84.6 million in 1995 to buy the arena. The debt will be paid through a mix
of property taxes, parking revenues, and entertainment, ticket and
concession taxes.
Council Member Lisa McDonald agreed with Campbell, noting that all the tax
revenue generated by the arena is pledged to pay off the bonds, especially
the 3 percent entertainment tax on Target Center tickets and some of the
property tax.
David Brauer
King Field - Ward 10
