The city of Minneapolis is considering a $35 million tax subsidy over 25 years to build a plaza next to the new Minnesota Vikings stadium, the Star Tribune reports.
The subsidy would benefit a Ryan Companies development that includes 460 apartments and 1 million square feet of retail and office space.
Although the company has not formally requested the tax increment financing (TIF), Ryan is in exclusive negotiations over four blocks of Star Tribune-owned land on the eastern edge of downtown.
John Stiles, a spokesman for Mayor R.T. Rybak, tells the newspaper the mayor is excited about the possibility of the project and is open to all funding options.
