Minutes 6-2-1997Page 1 of 2
ACTION MINUTES OF THE SAINT PAUL
CITY COUNCIL
MONDAY, JUNE 2, 1997 - 9:00 A.M.
CONTINUATION MEETING FROM MAY 28
CITY COUNCIL CHAMBERS, 3RD FLOOR
City Hall and Court House
15 West Kellogg Boulevard
Nancy Anderson, Assistant Secretary to the Council
Mary Erickson, Clerical Support - 266 -8565
Office of the City Council
Present - 7 - Blakey, Bostrom, Collins, Harris, Megard, Morton, Thune
Absent - 0
1. Resolution - 97 -675 - Approving the revised term sheet and interim plan of finance for the lease of the
new arena to be constructed as part of the Saint Paul Civic Center. (Laid over from May 28)
Adopted Yeas - 6 Nays - 1 (Blakey)
CITY COUNCIL RESOLUTION
WHEREAS, a group of Minnesota investors has submitted an application for an NHL expansion team
for consideration by the National Hockey League Board of Governors on January 13, 1997, and ❑
WHEREAS, the City Council has indicated that professional hockey is an economic and community
enhancement to the City of Saint Paul and the larger metropolitan area, and
WHEREAS, the City Council has determined that the 23- year -old Saint Paul Civic Center Arena is in
need of substantial renovation in order to maintain a competitive position in the marketplace, and
WHEREAS, based on a recent visit, the NHL Expansion Committee has indicated that Saint Paul has an
attractive and adequate media market as well as a financially solid investor's group, and
WHEREAS, the NHL Expansion Committee has raised questions as to whether the $51 million in
improvements previously outlined in the HOK Conceptual Design dated December 15, 1996, will be
adequate to bring the Arena up to NHL standards, and have indicated they would not recommend
placing an expansion team in Saint Paul in a renovated Arena, and
WHEREAS, a new Arena would benefit the City and its citizens by providing the downtown with an
Arena which would become competitive with other state of the art arenas, would provide current tenants
of the Civic Center with an updated facility in which to bring their events and programs, would generate
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needed revenue to attract an NHL team, and would attract additional non - hockey events to downtown
Saint Paul, and
WHEREAS, a new Arena would provide the highest quality facilities for the Minnesota State High
School Tournaments which have a long tradition of playing in the Saint Paul Civic Center Arena, and
would improve the experience of the many thousands of Minnesotans who attend the tournaments each
year, and
WHEREAS, it has been estimated that a new first -class Arena, consistent in quality with other current
arenas recently constructed for use by NHL teams and built on the site of the current Civic Center would
cost approximately $130 million which would include the following:
• Up to 650,000 square feet
• A capacity of approximately 19,000 seats for hockey including 2,500 club seats and 750 to 1000
seats in luxury boxes
• A finished Arena club restaurant and bar
• Finished Team Retail Store and Team Offices
• Video scoreboard(s) with advertising panels
• Two new outdoor marquees
• Finished locker rooms, training rooms and offices
• Finished concessions and novelty stands
• Landscaping
• All necessary fixtures, furniture and equipment
WHEREAS, the Governor of Minnesota has expressed support for $65 million in State bonding to be
appropriated in the 1998 legislative session, and
WHEREAS, the City believes an interim financing guarantee for the State's $65 million participation
will result in an award by the NHL for an expansion franchise, and
WHEREAS, this $65 million, in addition to the Team's contribution of $35 million and the City's
previously approved commitment of $30 million will result in a project budget of $130 million, and
WHEREAS, this interim financing is secured by future revenue streams available to the City other than
a property tax levy, and now therefore be it
RESOLVED, that the Council of the City of Saint Paul does hereby approve the attached revised Term
Sheet and interim plan of finance for the lease of the new arena to be constructed as part of the Saint
Paul Civic Center; and be it
FURTHER RESOLVED, that the appropriate officials of the City of Saint Paul are hereby authorized to
enter into, execute and deliver all necessary contracts, orders, agreements, indentures and documents of
any kind to carry out and put into place (1) the terms and conditions in said Term Sheet and its
provisions, including the Binding Letter of Intent, (2) the design and construction of the new arena, (3)
the financing requirements for the said arena, and (4) all other matters required to carry out the
implementation of this project.
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