Cost Of Target Center Renovation Increases By $30M
MINNEAPOLIS (WCCO) – The cost to renovate Target Center is going up.
An updated budget unveiled at Minneapolis City Hall this week shows the cost has climbed to nearly $129 million. That's up more than $30 million from the original projection of $97 million.
That's because the costs of construction, labor and materials have gone up.
The Timberwolves will contribute an addition $5 million – a total of $49 million.
A Target Center representative says a city council committee approved the additional costs. A final city council vote is scheduled to take place this summer.
Under the agreement, the city of Minneapolis is paying for nearly 60 percent of the project.
Construction is expected to kick into high gear this summer, with the renovations being completed in 2017.
