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  Home > TCF Bank Stadium > Financing

At the Legislature

May 2006

On Saturday, May 20, 2006 the Minnesota House and Senate passed a bill that secures state funding for a $248 million on-campus stadium. The bill passed on bipartisan votes of 96-37 in the House and 43-24 in the Senate. Gov. Tim Pawlenty signed the bill into law on May 24.

The bill calls for the state to pay $10.25 million per year for 25 years—approximately 55 percent of the total stadium cost. The University will fund the remaining 45 percent through private donations, corporate sponsorships (including $35 million from TCF Financial Corp. for naming rights for the stadium), parking revenues, and a student fee up to a maximum of $25 per year.

As part of the legislation, 2,840 acres of the University's UMore Park will be preserved into perpetuity. The environmentally sensitive land will become permanently protected by the state for public use, managed by the Department of National Resources. The University will reserve the right to conduct research on the land in perpetuity.

The bill requests the Board of Regents to establish a mitigation fund of $1.5 million to mitigate the impact of the construction and operation of the stadium on the surrounding neighborhoods. This fund will be managed by the Board and the use of the funds will be coordinated through the stadium area advisory group.

According to the stadium legislation, the Board of Regents may not acquire the fire station 19 building for the construction of the stadium and related infrastructure through the use of eminent domain.

December 15, 2005 - U looks to 2006 for legislative support for stadium

With 2005 coming to a close without passage of a Gopher stadium bill, the University is looking to 2006 for legislative support for the stadium. There is broad bipartisan support for the stadium and the University needs lawmakers to turn that support into legislation to fund 40 percent of the cost of the stadium as early as is possible in the 2006 legislative session. State support will help maintain the momentum the University has built to secure the sponsorships and donations needed to fund its 60 percent share of the cost of the stadium.

2005 Legislative Recap

2004 Legislative Recap

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June 27, 2006