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U offers to swap land for stadium
A new plan calls for the U to swap some Rosemount land for more state financing support.
March 25, 2006
Star Tribune
Mary Jane Smetanka and Conrad Defiebre
A new proposal to fund an on-campus football stadium at the University of Minnesota would swap 2,840 acres of U-owned land near Rosemount for a bigger state contribution for a stadium.
The plan, unveiled Friday evening, is for the state to pay $9.4 million a year for 25 years to finance bonds for a stadium. In return, the state would own the land after 25 years and create a nature preserve. The land in the Vermillion River watershed contains a trout stream, forests, rolling hills and trails for horseback riders.
"This legislation is a win-win for the university and the entire state," U President Robert Bruininks said.
"It will result in some of the most beautiful, undeveloped land in the region being protected for generations to come, and it will provide the financing we need to bring Gopher football back to campus," the president's statement continued.
The university's Board of Regents will meet Monday to consider the plan. Committee hearings on the proposal are set for Tuesday in the Minnesota Senate and Wednesday in the House.
Read the full story at: http://www.startribune.com/512/story/329419.html
