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Minn. To Sell Vikings Stadium Bonds Next Week

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(credit: CBS)

(credit: CBS)

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ST. PAUL, Minn. (AP) — The Minnesota Vikings stadium project is about to get its formal infusion of money from the state.

The Department of Minnesota Management and Budget will sell $467 million in bonds early next week to cover the public share of the $1 billion construction budget. The bond sale has been in the works for months and comes weeks after groundbreaking for the new facility.

Demolition of the Metrodome will start soon, and the new stadium will be built where the old one stands. The goal for completion is summer 2016.

The Vikings are rounding up private money to pay roughly half of the project cost. The state and the city of Minneapolis are covering the rest by diverting tax money to repay the borrowed money.

(© Copyright 2014 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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