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MYTH VS. REALITY - ARDEN HILLS STADIUM SITE • There is a profit- sharing agreement if the team is sold within 10 years. • The Vikings will operate and maintain the facility under the direction of a public stadium authority and pay approximately 90 percent of operating and maintenance expenses. • The Vikings will commit to a 30 -year lease and pay for all municipal services, including police, traffic, fire, trash removal, etc. The lease will have no early termination provisions and will not allow the Vikings to relocate. MYTH #4: The proposed 0.5 percent sales tax increase in Ramsey County will make it difficult for businesses in the county to compete. REALITY: • Even with a half -cent sales tax to fund stadium development, it will still be cheaper to buy a hamburger and cup of coffee in St. Paul than it already is in Minneapolis. The sales tax increase is equivalent to a nickel on a $10 purchase. The rate comparison: o Minneapolis: 10.775% (with food and beverage tax, current) o St. Paul: 8.125% (with proposed 1/2 cent stadium tax) o Suburban Ramsey County: 7.625% (with proposed 1/2 cent stadium tax) o Suburban Hennepin County: 7.275% (current) MYTH #5: There is no evidence that building a new stadium will help the economy. REALITY: • This project will support 13,000 full- and part-time jobs, including 7,500 construction jobs, over a three -year construction period. • The stadium will require 4.2 million work hours, including 900,000 in the first 12 months and generate more than $286 million in construction wages and $10 million in income taxes. • Off -site improvements will create a substantial number of additional jobs. Once the stadium is completed in 2015, it will support 3,400 ongoing full- and part-time jobs with more than $100 million in personal earnings, according to Conventions, Sports & Leisure International. • Private development of nearby properties, both on the TCAAP site and across the northern suburbs, will generate new jobs and ongoing positive economic impacts for the region. MYTH #6: Money spent by fans attending a football game would be spent in the community in another way if there wasn't a football team and stadium in the Twin Cities. REALITY: Prepared by Ramsey County I Updated July 8, 2011