Here's what happened. The reporter from St. Paul caught both of us late
afternoon before we had a chance to talk to staff. The next day we found out
that SFX (who just closed their deal with the city last week) hadn't
approached the city about this before spilling the beans to the Pioneer
Press. We're more than willing to look at this but,,,,in 1995 when we bought
the Target Center we did get an opinion which indicated we couldn't use a
ticket surcharge to pay for the pourchase. Secondly we're heading into a
tight budget year with both the city and the agency so this is a large chunk
of change. I think we'll probably do whatever it takes to make us
competative with the "Excellerator" in St. Paul, like the sound system. But
I doubt that some of the things like new seats are necessary. Also after
about a year or two the newness wears off, the dust settles and you're both
competing in the same arena. We really scored the bigger coup when we got
SFX and kept St. Paul from hiring them.
Lisa McDonald
Tenth Ward Council Member
> -----Original Message-----
> From: David Brauer [SMTP:[EMAIL PROTECTED]]
> Sent: Thursday, October 05, 2000 12:17 PM
> To: Multiple recipients of list
> Subject: Target Center competition -- in the dailies
>
> 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
>
>
>
