St. Paul, Wild scale back Xcel Energy Center complex renovations, slash state funding request
The Minnesota Wild and city of St. Paul have scaled back their plans to renovate the Xcel Energy Center complex and slashed their state funding request to the Legislature.
They were initially pursuing a $770 million renovation project, which included the Saint Paul RiverCentre and Roy Wilkins Auditorium in addition to Xcel. They had hoped about half of the funding — $394 million — would come from a state General Fund appropriations bond, which needs approval by lawmakers.
But on Thursday, a joint announcement said the city and team have "narrowed the immediate scope" of the project to focus only on the Xcel Energy Center, bringing the cost down to $488 million. "City and local partners" will provide $200 million, the announcement said, and the Wild will cover the remaining $238 million, plus any additional costs that arise. Now they are seeking $50 million from the state, a drastic reduction from the initial $394 million request.
"This project will create hundreds of jobs and generate millions in economic growth, while securing this publicly owned tourist destination for decades to come," St. Paul Mayor Melvin Carter said. "With these goals more urgent than ever, this is exactly the kind of public infrastructure investment our state needs right now."
The state's funding "would help expand the Xcel Energy Center's north wall along 5th Street to improve the northeast entrance security area, increase ADA accessibility, reduce congestion in corridors and update restroom plumbing," according to officials.
The team and city will likely seek additional funding for the other facilities in future years, the announcement said.
"Since 2000, the Xcel Energy Center has been the economic engine of downtown Saint Paul, and we're excited for the opportunity to build on this success," Wild owner Craig Leipold said. "Saint Paul is uniquely positioned to become a gleaming example nationwide of forward-thinking revitalization. The Wild is committed to our home in the capital of the state of hockey, and we're proud to invest in the future of Saint Paul."
In March, key lawmakers on the capital investment committee were skeptical of approving a borrowing measure to finance the proposed renovations at a time when there are other infrastructure needs across the state and the budget outlook is bleak. Minnesota is staring down a $6 billion deficit in the future if lawmakers don't make tough decisions this year about the next two-year spending plan.
The Wild last month announced a search for a new naming rights partner for the Xcel Energy Center. The team expects to announce the new name before the next NHL season, which starts in October.
