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Facilities Venues

MINNEAPOLIS COLUMNIST CALLS FOR FINANCIAL HELP FOR T-WOLVES

          If the Timberwolves "are to compete with other teams"
     in the NBA, the city of Minneapolis, which owns the Target
     Center, "will have to give" the team "some financial relief. 
     And there is money available," according to Sid Hartman of
     the Minneapolis STAR TRIBUNE.  Hartman wrote that the city
     made a profit of $1.18M on the Target Center last year,
     taking into account revenues of over $5.7M from sources,
     including $3.23M in property taxes and $898,395 in
     entertainment taxes.  Expenditures included "general
     obligation bond debt service" of over $3.5M.  In addition,
     the city collected $1.1M in sales tax from ticket sales at
     the arena and the team also paid real estate taxes of
     $2.97M.  The city also collected real estate taxes of over
     $671,000 from a Target Center health club.  Hartman also
     noted "the state not only profited from the sales tax of $2
     million [from ticket sales] but maybe another $5 million in
     state income tax from the executives, coaches, players and
     other employees of the Timberwolves."  Hartman: "That money
     is available to the city and the state only because of the
     presence of the Timberwolves" (STAR TRIBUNE, 8/17). 
      

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