Senate discusses $570M remodel plan for Xcel Energy Center arena

Senators gathered on March 25, 2025, to discuss significant funding proposals for the renovation of the Xcel Energy Center, with a focus on the arena's projected costs and funding strategies. The proposed remodeling project is estimated at $570 million, with a request for $285 million in state assistance.

During the meeting, Senator Pappas inquired about the cost comparison of the Xcel Energy Center renovation to similar projects nationwide. Mr. Leopold, a key speaker, noted that the cost of a new arena would reach approximately $1.1 billion, emphasizing that the current plan to remodel is a more economical approach. He highlighted that the average cost for similar renovations across the country is around $500 million, indicating that Minnesota's proposal aligns with national trends.

The discussion also touched on the legislative process for funding, particularly the distinction between appropriation bonds, which require a simple majority for approval, and GEO bonds, which necessitate a supermajority. Senator Johnson raised concerns about ensuring broad participation in passing the bonding bill, suggesting that separating projects into standalone bills might facilitate this process.

Additionally, the committee emphasized the need for a clear breakdown of project costs and funding sources to enhance transparency and support for the proposal. This detailed financial overview is expected to aid in garnering the necessary legislative backing for the renovation.

As the committee moves forward, the implications of these discussions could significantly impact the future of the Xcel Energy Center and its role in the community, highlighting the importance of strategic funding and legislative collaboration in capital investment projects.