SF2799

Purpose of the Bill

The purpose of the bill is to allocate funds for the renovation of the Aldrich Arena in Ramsey County, Minnesota. This renovation aims to transform the arena into a venue capable of hosting regional and statewide events.

Main Provisions

• Funding Allocation: The bill specifies that $6,500,000 is appropriated from the bond proceeds fund to the commissioner of employment and economic development.
• Improvement Objectives: The allocated funds are intended for planning, designing, and constructing the necessary improvements to the Aldrich Arena to enhance its facilities and site.
• Authorization of Bonds: The bill authorizes the sale and issuance of state bonds to provide the necessary funding. The bonds will be issued by the commissioner of management and budget according to state statutes and the state constitution.

Significant Changes to Existing Law

• The bill introduces a new specific appropriation for Ramsey County, specifically targeting the renovation of the Aldrich Arena. This initiative involves raising funds through state bonds, marking a financial commitment to improving local infrastructure to serve larger-scale events.

Relevant Terms

capital investment, Aldrich Arena, Ramsey County, state bonds, renovation, regional events, statewide events, bond proceeds fund, Minnesota statutes, commissioner of employment and economic development.