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St. Paul seeks state backing for Xcel Energy Center complex renovation; city outlines economic case
Summary
Mayor and venue operators asked for state-supported appropriation bonds to modernize the Xcel Energy Center complex, saying renovations will sustain events, preserve economic impact and position downtown St. Paul for further investment.
St. Paul city leaders and arena operators told the House Capital Investment Committee that renovating the Xcel Energy Center arena complex is necessary to keep the venue competitive, to sustain downtown economic activity and to support upcoming international events.
"This complex is a center of social and economic activity for our city and for our state," Mayor Melvin Carter said. He told the committee the arena complex — the Xcel Energy Center, RiverCentre and Roy Wilkins Auditorium — attracts more than 2.1 million visitors per year and generates roughly $383 million in annual local economic impact, and that modernization could increase that impact by more than $100 million annually. Carter said the city is exploring financing options and asked the committee to consider appropriation-bond support for renovation.
Craig Leopold, owner of the Minnesota Wild, said the arena is at the end of its intended lifespan and that visitor and player facilities need upgrades to remain competitive and to host international events. Tom Bigelich of the Minnesota State Building Trades Council said the project would use a project labor agreement and employ thousands of union construction workers. House Fiscal staff explained appropriation bonds differ from general-obligation bonds and carry different debt-service implications; Chair Lee summarized an MMB estimate that a $394 million appropriation-bond authorization would add approximately $30.32 million above the base to annual debt-service needs.
Witnesses described environmental and community benefits and emphasized the venue’s role in hosting youth, high-school and collegiate events in addition to professional sports and concerts. The hearing was informational; no bill vote occurred.
