New Stadium News

The University of Minnesota has come up with a creative way to get football back on campus and outdoors once again. Every great university needs to have its own $249 million dollar football stadium, doesn’t it? Of course it does! Well, letting TCF bank put its logo on the front is only one way to skin this cat. And TCF is only good for $35 million.

The U received some “environmentally sensitive land” from the federal government a few years back in 1947. It is along the Vermillion River near Rosemount. The state government needs nature trails and parks in order to save the earth so the U worked out a trade. The state government gives the U of MN $9.4 million a year for 25 years ($235 million) and then the state will own the land! Now that is creative financing.

First a state institution owns some land and then it sells it to the state to raise the money for the new stadium. Hmmm? And it doesn’t cost the taxpayers one thin dime. Right? I mean it won’t cost us taxpayers anything right? Because the university raised the money on its own, right?

And as a special bonus for the students, because of this good news of creative funding, the taxpayer’s portion will be increased by 10% and this will mean that the students only have to pay $25 a year instead of $50 (even if they don’t like football)

Hmmm? The taxpayers were only going to have to come up with 40% of the money needed. Now they are going to only have to pay 50% to help the students out. That’s ok isn’t it? Everyone knows students don’t have much money.

I guess the other 50% will be paid by the university right? From stuff like, parking, game tickets, concessions, etc. Right? The U will just take the
$1,000,000 it raises in fees from the students and the other parking and stuff and pay for the stadium by itself and the taxpayers only have to pay 50%. Right?

Cause they have $9.4 million in new income coming in from their “sale” of the prime land they had. They sold it to who?

They sold it to the taxpayers of this state. So we can have a new park. I wonder if we could make the Metrodome into a park? How about the state capitol?

Read about it here.