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MINN. GOVERNOR SUGGESTS STATE HELP FOR TARGET CENTER
Published January 25, 1995
MN Gov. Arne Carlson Monday told legislative leaders that "if Minneapolis cannot solve the Target Center financing puzzle on its own, he wants the state to step in and double its financial commitment." Carlson outlined a plan to increase the state's commitment from $750,000 a year for 15 years to 750,000 for 30 years. That would leave the state with a total commitment of $22.5M. The Minneapolis City Council is expected to submit a new finance plan to Glen Taylor by today. Taylor is attempting to buy the Wolves, but the deal hinges on the buyout of the Target Center. In addition to state help, the possibility of a loan from the Metropolitan Sports Facilities Commission to the city of Minneapolis has been mentioned. MSFC Chair Henry Savelkoul says the legislature must act quickly because of the NBA's March 1 deadline to allow teams to relocate. Savelkoul: "I can't see this going on for very long. ...The NBA isn't going to sit by" (Whereatt, McGrath & Weiner, Minneapolis STAR-TRIBUNE, 1/24).