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SF 3370 Senate Long Description

Providing for the financing of an open air roof ready major league baseball park in the city of Minneapolis by Hennepin county; authorizing the county to acquire, design, construct, equip, improve, control, operate and maintain the ballpark and related facilities; granting the county certain contracting authority and providing for the selection of contractors and for the posting of surety bonds; exempting real and personal property in connection with the ballpark from ad valorem property taxes, property to remain subject to special assessments; authorizing the county to establish a condominium, leasehold condominium or common interest community and enter into related easements or agreements; providing for intergovernmental agreements for the acquisition, construction, maintenance, operation and financing of the ballpark or related facilities; exempting the ballpark from metropolitan council review and department of trade and economic development (DTED) business subsidy regulations; authorizing and providing for the county to issue bonds to finance acquisition or betterment costs and to impose certain additional sales taxes on liquor, lodging, food, rental vehicles and ticket prices as security for the bonds; specifying certain agreement requirements of the Minnesota Twins, the county board and a private entity for county bond issuance or tax authority purposes; authorizing the city of Minneapolis to appropriate and transfer a certain amount to the county for construction of the ballpark; exempting tickets to ballpark events to the extent of subjection to the county tax from the general sales tax and exempting materials, supplies and equipment used in the construction or improvement of the ballpark and related facilities from the sales tax; increasing the membership of the metropolitan sports facilities commission, requiring the appointment of a certain number of members by the Hennepin county board (ra)