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Negotiators still working on Gophers football stadium plan
Star Tribune
May 18, 2006
House and Senate negotiators worked on a compromise funding plan for a Gophers football stadium Thursday, ironing out differences over a land swap that would help pay for the $248 million arena.
But the conference committee still had to tackle the more controversial provisions for the University of Minnesota project, including a $50 annual student fee, a $35 million naming rights agreement with TCF Bank and a 13 percent tax on sports memorabilia.
Richard Pfutzenreuter, the university's chief financial officer, said a final compromise was within reach, possibly later on Thursday.
"Nobody in this room wants to stand in the way of getting this done," said Sen. James Metzen, DFL-South St. Paul, one of the Senate negotiators.
The bill being crafted would have the university transfer 2,840 acres of undeveloped land in Dakota County to the state Department of Natural Resources.
In exchange for annual payments of up to $9.4 million for 25 years, the state would get guarantees that the land wouldn't be developed. The parcel could be used for purposes including a regional park, wildlife management and for recreation, including horse trails and shooting. The university would retain the right to use the land for research.
The open-air stadium would be built on the edge of the university's Minneapolis campus.
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