The Final Test of the Vaseline Dome

One last hurdle for the "People's Stadium" jamdown -- the Minneapolis City Council still has to give final approval and a vote is expected in the next day or two. Writing in the Start Tribune, Council member Gary Schiff takes one last look at the numbers and points out a few things that the mayor, the governor and the Helga Braiders would rather not discuss:

Minneapolis' share of the stadium costs is not limited to the $150 million construction costs often mentioned. In the financing bill, the city is also responsible for interest on the construction debt, plus ongoing operating, maintenance and upgrade costs over the next 30 years.

The minimum cumulative cost to Minneapolis sales taxpayers will be $675 million, while another clause in the deal allows the subsidy to swell to $890 million. Minneapolis is being given a white elephant -- with horns.

Or just the horns. But there's more:

The current plan is often sold as a plan to reduce property taxes. But Target Center's ongoing costs will simply shift from property to sales taxes. A family with a home valued at $175,000 will see a $14.28 reduction in property taxes, while continuing to pay the highest sales taxes in the country for the next 30 years every time they eat at a local restaurant.

Target Center's debt didn't go away. In fact, the city's debt obligations for Target Center increase under the plan due to scheduled renovations. The city is contractually obligated to upgrade the arena to today's NBA standards.

The Vikings bill sets similar contractual obligations for maintenance of the Vikings stadium. We're setting ourselves up to be financial participants in two professional sports league arms races.

All of this is true, but it likely won't matter. It would take an act of extraordinary political courage for one member of the City Council to switch to a No vote on the stadium, and I can't hardly blame the politicians in Minneapolis for not wanting to have a bunch of dudes with purple face paint trying to get into their breakfast nooks. Schiff's warnings will go unheeded for that reason.