With Hennepin County bonds that funded ballpark construction set to be paid off this year, the Minnesota Twins are seeking to extend their Target Field lease and a 0.15 percent sales tax while leaving in place $10 million in annual maintenance funding.
The original Target Field funding plan was backed by a 0.15 percent sales tax–some three cents on $20 purchase within Hennepin County–with the Twins ballpark and the Minnesota Ballpark Authority the primary, but not sole, beneficiary of the proceeds. The local sales tax as passed by state legislators also used the proceeds of the sales tax to support youth sports facilities and extend county library hours. It currently generates some $54 million a year–a level that allows the county to pay off bonds early. The tax is currently slated to sunset once the bonds are paid off.
Under a proposal floated by Hennepin County officials and supported by the Twins, the 0.15 percent sales tax and its $54 million in annual proceeds would be extended for 25 more years. The support for youth sports activities and extended county library hours would continue (currently costing $4 million annually), while $10 million annually would be reserved for Target Field maintenance. The rest, some $40 million annually, would go to Hennepin County Medical Center for new construction and upgraded facilities at its downtown Minneapolis medical facilities. The county is currently in the midst of a $2.5-billion building renovation plan.
If extended, the Twins and the Minnesota Ballpark Authority would extend the Target Field lease by at least 20 more years. The lease is currently set to expire in 2039, and an extended lease would tie the Twins to Target Field through 2059, with the possibility of two optional 10-year extensions. The Twins would also contribute $4.5 million a year to a maintenance fund via rent. The team would also be expected to contribute to the cost of major renovations and upgrades, such as the 2023 overhaul of Target Field’s videoboard and A/V system.
The timing is unusual. The Twins made a similar proposal during the 2024 session, but in-fighting amongst Hennepin County officials ended up killing any changes of legislative approval. And with the team for sale, it’s unusual for a current owner to tie a new owner to a long-term lease.