Minnesota Wild, city of St. Paul propose $600M in renovations at Grand Casino Arena
Team, city will ask state Legislature to pitch in $200M
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St. Paul Mayor Kaohly Her and Minnesota Wild leadership announced Tuesday that they’ve reached an agreement on a framework for $600 million in renovations at the Grand Casino Arena complex.
That agreement includes a request for $200 million in state funding — and it was not immediately clear whether lawmakers would support that. Previous efforts to get state funding for renovations to the arena failed to gain traction.
Under the plan from the city and the Wild, Grand Casino Arena — formerly known as the Xcel Energy Center — would get $450 million for renovations, with the other $150 million going to the St. Paul RiverCentre and Roy Wilkins Auditorium.
Of the $200 million being sought from the Minnesota Legislature, $125 million would be allocated for Grand Casino Arena, with the rest going toward the RiverCentre and Roy Wilkins Auditorium.
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The remaining $400 million would be financed by the city of St. Paul and the Wild. St. Paul would finance $162.5 million of its share using an extension of the half-cent sales tax. The Wild would privately finance $162.5 million for Grand Casino Arena, with the team agreeing to cover any overrun costs.
Under the plan, the city would work with the Wild as a preferred partner to fund the remaining $75 million for Roy Wilkins Auditorium, which would largely fund phase 2 of the renovation.
Grand Casino Arena is one of St. Paul’s largest city-owned assets.
“We are responsible for making sure it continues to anchor our downtown and economy. This agreement ensures our facilities remain competitive,” Her said in a news release Tuesday morning. “Above all, I am committed to being a good steward of taxpayer dollars.”
Minnesota Wild Sports & Entertainment and Grand Casino Mille Lacs and Grand Casino Hinckley finalized a 14-year naming rights partnership that renamed the arena last year.
Last legislative session, St. Paul city leaders and Minnesota Wild executives asked the state to fund part of a renovation to the Grand Casino Arena, but legislators balked at the price tag and the timing given budget constraints.
The city and team scaled down their proposal to focus on renovating just the hockey arena, but the proposal still faced significant challenges due to the state’s tight budget situation.
A new budget forecast announced last week shows an improved outlook for the state — but there are still a lot of unknowns, and lawmakers will be facing a lot of requests for state spending this session.
“We will take this proposal to the legislature and ask for their support,” Her said Tuesday. “I look forward to that conversation.”
