Private funding holding up Timberwolves Target Center dealPosted by Inside Hoops
Six months after the Vikings stadium deal paved the way for a public/private renovation of Target Center, Minneapolis’ chief negotiator says the Timberwolves and the arena’s operator still won’t say how much they will pay.
The “implementation committee” for the estimated $100 million renovation of the city-owned building has already met twice. But the city’s lead official on the project, Jeremy Hanson Willis, expressed frustration Tuesday night that there wasn’t a deal.
“We’ve said that we need to have significant private contribution in order for us to do this renovation,” Hanson Willis said after a meeting of the committee. “And we don’t yet have confirmation about to what degree the private sector is going to contribute to this.”
– Reported by Eric Roper of the Minneapolis Star Tribune