Price for Twins stadium land to be $28.2 million
Eds: Updates with background on the team’s contribution.
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.
ADVERTISEMENT
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.
