You're hearing those correctly. They're both being used. The Twins want to claim that they're chipping in 1/3. However, that does not take into account the cost of borrowing money for the stadium. The cost of intersted and bond servicing for this would run @$100million. I understand that when we individuals talk about buying a home, we use the sale price and don't talk about the total cost that would include interest on the money we had to borrow to buy the home. Nevertheless, in the case of the stadium debate I feel it's inapporiate to not include the cost of borrowing the money. Unless someone's got 1/3 of a billion in cash ready to be used, the cost of borrowing the money is part of the cost of the stadium.
Allen Graetz MPLStown
Bruce Gaarder wrote:
3) The editors of the Strib wrote on Tuesday that the Twins would be putting up 36% of the cost. Other articles have stated the cost as $478 million with the team putting up $125 Million. The editorial is either deliberately misleading (the public share is $478M - $125M = $353M, $125M is 35.4% of $125M) or sloppy editing ($125M is 26% of $478). I'm not inclined to cut them slack on an editorial about what they consider so vital to their well-being.
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