Saint Paul Mayor Kaohly Her, Minnesota Wild Announce Framework Agreement on Funding for Renovation of Grand Casino Arena, RiverCentre, and Roy Wilkins Auditorium

SAINT PAUL, MN -  Mayor Kaohly Her and Minnesota Wild leadership have reached a framework agreement to fund renovations at the Grand Casino Arena complex in downtown Saint Paul and advocate for financial participation from the State of Minnesota at the Capitol this Legislative Session. 

Negotiations began within weeks of Mayor Her's election. Both parties worked in good faith to craft a solution that balances the arena's operational needs, maximizes efficient use of taxpayer dollars, avoids raising property taxes, and preserves and reinvests in one of the city's largest publicly owned assets that generates millions in direct tax revenues and produces millions more in economic impact from users across the state and country.

The framework agreement is as follows:

• The arena complex renovation and improvement project will cost a total of $600 million - $450 million for Grand Casino Arena, and $150 million for Roy Wilkins Auditorium.  
• The agreement will include a $200 million ask at the State Legislature - $125 million for Grand Casino Arena and $75 million for Roy Wilkins Auditorium. 
• The City will finance the $162.5 million for Grand Casino Arena using an extension of the half-cent sales tax, of which up to 40% can be dedicated to capital improvements at the arena complex. 
• The Team will privately finance $162.5 million for Grand Casino Arena. 
• The City will work with the Wild as a preferred partner to fund the remaining $75 million for Roy Wilkins Auditorium, which will largely fund phase 2 of the renovation. 
• The Wild has agreed to cover any project overrun costs that may occur. 
• The agreement includes the Wild's ongoing management of the arena and a lease extension. The team will pay ongoing rent and pilot for use of the public facility, and both the City and team are committing to significant ongoing asset preservation investments over the term of the lease.

Statement from Mayor Kaohly Her:

"Grand Casino Arena is one of the largest city-owned assets, and we are responsible for making sure it continues to anchor our downtown and economy. This agreement ensures our facilities remain competitive - attracting top performers, cultural events, and, of course, sports. Above all, I am committed to being a good steward of taxpayer dollars. This deal is the most sustainable path forward to finish this project while honoring that responsibility.

I am grateful to Craig and the Minnesota Wild for their commitment to investing in our city and for being a key partner in revitalizing downtown Saint Paul. Now we will take this proposal to the legislature and ask for their support.

I look forward to that conversation."

Statement from Craig Leipold:

"Grand Casino Arena has been home to the Minnesota Wild since 2000. This arena is one of the most important economic engines driving Saint Paul's economy. It's booked 150 nights a year with events and entertainment - more than any other venue in Minnesota. Like any 25-year-old building, it's ready for an update and we're ready to invest - in the fan and visitor experience, in the event space, in safety and accessibility. We are thrilled that Mayor Her shares our vision for creating an improved entertainment district in downtown St. Paul and is moving this project forward."

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