Friday, December 16, 2011

NFL Owners Expand Loans for Stadiums

MINNEAPOLIS - Just when the Vikings stadium site selection seemed to be narrowed down to two choices, a third location is back in running as NFL owners vote to expand a loan program that could send extra money to building a new home for the Minnesota Vikings.

The Linden Avenue site seems to be gaining some traction after Sam Grabarski, president and CEO of the Downtown Council said both that site and the Farmers Market local are possibilities. Now, Linden Avenue is being promoted for its access to bars, hotels, transit and freeways.

"We are assembling teams of experts to help them understand that site fully, and I'm awaiting news from them as to how interested they are," Grabarski said.

The team says it is waiting for more information before moving ahead in Minneapolis, but it's still maintaining its commitment with Arden Hills.

The Metrodome remains a candidate, and Minneapolis Mayor R.T. Rybak emphasizes that it is the cheapest option with the most support on the City Council, though he said all of the city's potential sites have their own appeal.

"I think all Minneapolis sites offer great potential," Rybak said. "If there is some way to find more money for another site or more votes for another site, I'm all for it."

More money may be available to the Vikings thanks to a vote the NFL owners took on Wednesday night in Dallas. The league voted to expand it's G4 loan program, which provides teams with funds to expand or build stadiums. The move could send up to $200 million toward the team's $400 million contribution.

Source: http://www.myfoxtwincities.com/dpp/money/nfl-owners-vote-to-expand-loans-for-stadiums-dec-14-2011

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