The Minnesota Vikings and Ramsey County have officially come to an agreement that would finance a stadium at the site of the former Twin Cities Army Ammunition Plant in Arden Hills. The team held a press conference on Tuesday with Ramsey County officials to announce the specifics of the deal.
The total cost of the project will come to $1.057 billion dollars, $884 million of which would be for the stadium itself. The Vikings would be responsible for $407 million of that cost, or approximately 44% of the entire project. Ramsey County will contribute $350 million, which it will do by implementing a half-cent sales tax increase. That will leave the state to contribute approximately $300 million, which Governor Mark Dayton said was the largest amount that he could support the state contributing to a stadium project.
The fate of the Vikings' stadium is now in the hands of the state legislature. The current legislative session has 12 days remaining, and it remains to be seen whether or not the bill can get pushed through and passed during that time.