A bill proposing how to fund and select a site for a new stadium for the Vikings will be introduced in the Minnesota State Senate on Monday.
The bill, the text of which can be found on the state senate's website, proposes that the Vikings fund at least one-third of the cost of the stadium, with state and local authorities funding the rest through a variety of taxes and tax breaks. The issuance of state and/or municipal bonds is also possible. The bill proposes that the Vikings be responsible for any cost overruns. The bill would also create the Minnesota Stadium Authority, which would select the new stadium site.
The bill proposes that a new stadium site be selected no later than March 15, 2012.
According to the St. Paul Pioneer Press, a new stadium is expected to cost about $900 million, and three stadium sites have emerged. One potential site, according to the paper, would be at or near the current location of the Metrodome.
The Vikings' lease at the Metrodome is up after the 2011 season.