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Price for Twins stadium land to be $28.2 million

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MINNEAPOLIS (AP) — Hennepin County officials and owners of the downtown Minneapolis land where a new Minnesota Twins stadium is being built have agreed on a $28.9 million price for the land.

The county took title to the land months ago, making a deposit of $13 million. The landowners’ spokesman, Aron Kahn, said the remaining amount of the settlement includes interest owed to landowners on the amount above $13 million.

Terms of the settlement were reached on Friday. They were announced at a news conference Monday.

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The landowners had been seeking $33 million for the land, which the county contended was worth $19 million.

The settlement was reached with the aid of a special mediation panel, averting a Nov. 13 court hearing on the issue.

When the Legislature passed a bill for the $522 million ballpark last year, it capped land and infrastructure spending at $90 million.

The county insisted earlier it could only afford the $13.35 million it originally claimed the land was worth — to avoid having to skimp on other parts of the project. The Twins agreed this spring to chip in an undisclosed amount to cover the gap.

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