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Mayoral candidate Cam Winton says he wants a closer look at the financial details for the 

real estate development planned for the blocks west of the new Vikings stadium

In a letter to the Department of Community Planning and Economic Development, Winton is asking deputy director Chuck Lutz to elaborate on the financing plan for green space and a parking ramp contemplated in the area, including the Star Tribune's headquarters block.

The parking ramp is a must-have for the stadium, required by the Vikings. The Minnesota Sports Facilities Authority 

, and Ryan and the city have submitted a proposal,  with the city borrowing the money to finance the project.

As part of the deal, builder Ryan Cos. has guaranteed to cover the bond service for 10 years, and then parking and other revenues would presumably hold Minneapolis taxpayers harmless for the remaining 20 years of the bonds. Mayor R.T. Rybak has said the MSFA will split shortfalls with the city in the last two decades of the deal.

Winton says Minneapolitans might have reason to hesitate about that:

Winton concedes he's a stadium apostate. "I would have put it to a referendum of city residents, as was required under the city charter," he says. "I think the folks that supported the stadium did a big end run around the referendum requirement and violated the spirit of the law."

Winton also says he hasn't gotten any assurances yet from the city regarding the stadium district project.

But current mayor R.T. Rybak offered what sounded like a bullet-proof plan when he pitched the idea earlier this month. He said the new taxes on Ryan's Downtown East development would easily cover the bonds. Here's how Rybak explained it at the big reveal in a Strib parking lot on May 14th:

Tim Nelson

Author

Mayoral candidate Cam Winton says he wants a closer look at the financial details for the real estate development planned for the blocks west of the new Vikings stadium going up in downtown Minneapolis. In a letter to the Department of Community Planning and Economic Development, Winton is asking deputy director Chuck Lutz to elaborate…

Minneapolis mayor candidate questions stadium district financing

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