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City Of St. Paul, Developer Ryan Cos. Reach Agreement On $43.8M Downtown Ballpark

The city of St. Paul and local developer Ryan Cos. have "signed off" on a $43.8M contract to construct the independent St. Paul Saints' downtown ballpark, with Ryan "responsible for any cost overruns involving labor or materials," according to Kevin Duchschere of the Minneapolis STAR TRIBUNE. The ballpark will be owned by the city and "is expected to be ready for the Saints' opening day" in May '15. Ryan Cos. will be paid $3.48M "for overseeing the project." St. Paul Parks & Recreation Department Public Services Manager Brad Meyer said that the city "will control any changes made to the current set of plans but doesn’t anticipate any." Duchschere reports more than 80% of the ballpark’s cost "will be paid with public funding." The state is contributing $28M in "development and environmental grants" and a $1M loan. St. Paul’s contribution amounts to $23.25M, including a $4.25M "balance on an internal loan which it hopes to pay off with county environmental grants and unspent contingency funds." The Saints are kicking in $2.2M "in cash and will pay off" $8.8M in city bonding "with regular rent payments to the city" (Minneapolis STAR TRIBUNE, 3/7).

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