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RISK ANALYSIS OF THE ARDEN HILLS STADIUM PROPOSALStadium Proposal Risk Analysis - Key risks: cost of delays, funding gap and cost burden to Ramsey County Stadium Proposal Risk Analysis slide presentation (PDF file size 395KB) Gov. Dayton's Aug. 3 letter requesting review of the stadium proposal (PDF file size 1.18MB) Gov. Dayton's Oct. 12 response to the Stadium Proposal Risk Analysis At the request of Gov. Dayton, the Metropolitan Council and Metropolitan Sports Facilities Commission conducted a risk analysis of the joint proposal by Ramsey County and the Minnesota Vikings to build a football stadium on the site of the former Twin Cities Army Ammunition Plant in Arden Hills. The report makes a number of findings of risk and related measures to mitigate these risks. The following risks present the greatest challenges to the Stadium Proposal: Cost of delay. The transfer of 430 acres by the federal government to Ramsey County is a complex land transfer of the largest Superfund site in the state. Cleanup of the site has significant uncertainties, and the proposal sets forth an aggressive schedule that is unrealistic. Cost of a one-year delay is estimated at $46 million. Unfunded cost gap. Funding is not identified for $39 million of project costs in the current $1.111 billion proposal. Ramsey County sales tax. The proposed .5% sales tax may compromise the county’s and the region’s ability to finance other projects. While revenues from the sales tax and a proposed $20 county motor vehicle tax are sufficient to fund the county’s share of the current proposal, it appears likely that Ramsey County would need to find additional revenue sources to fund any cost overruns.
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