HF2455

Purpose of the Bill

The purpose of this bill is to provide funding for the renovation of Aldrich Arena in Ramsey County, Minnesota. The goal is to upgrade the facility so it can function as a regional and statewide event center.

Main Provisions

• Appropriation of Funds: The bill allocates $6,500,000 from the bond proceeds fund. This money is designated for the commissioner of employment and economic development to distribute as a grant to Ramsey County. The funding will cover the predesign, design, and construction of various facility and site improvements at Aldrich Arena.

• Bond Sales: To raise the funds, the bill authorizes the sale and issuance of state bonds amounting up to $6,500,000. The bonds will be issued by the commissioner of management and budget following specific state statutes and constitutional guidelines.

Significant Changes

This bill facilitates a notable change by converting an existing facility, Aldrich Arena, into a more extensive venue capable of hosting regional and statewide events. The bill does not make changes to existing laws but enables financial mechanisms through the issuance of state bonds.

Relevant Terms

• Aldrich Arena
• Ramsey County
• Bond sale
• State bonds
• Capital investment
• Regional event center
• Grant
• Facility renovation