ST. PAUL, MN (CelebrityAccess MediaWire) — The city of St. Paul has asked the state legislature to forgive as much as $33 million in loans that were used to build the Xcel Energy Center in order to underwrite the construction of an ice skating facility adjacent to the sports complex.
The proposed facility, dubbed 'The Pond' would be a 120,000-square-foot, three-level building built around a single ice rink, with seating for 3,000 to 4,000 people, the Star-Tribune reported. The building would primarily be used for local youth hockey and as a practice facility for the NHL's Wild, who would pay rent.
The city is asking the state for an additional $7 million to be tacked onto their current loans from the Xcel Center, which would be repaid over the next four years, at which time, the state would pick up the tab for the remaining $33 million. The total price for the facility is estimated to be $35-40 million. This may prove to be a tough sell as the state of Minnesota is currently facing a budget shortfall of $4.5 billion. – CelebrityAccess Staff Writers