[Mpls] Re: stadium

[Allen]

You're hearing those correctly.  They're both being used.  The Twins 
want to claim that they're chipping in 1/3.  However, that does not take 
into account the cost of borrowing money for the stadium.  The cost of 
intersted and bond servicing for this would run @$100million.  I 
understand that when we individuals talk about buying a home, we use the 
sale price and don't talk about the total cost that would include 
interest on the money we had to borrow to buy the home.  Nevertheless, 
in the case of the stadium debate I feel it's inapporiate to not include 
the cost of borrowing the money.  Unless someone's got 1/3 of a billion 
in cash ready to be used, the cost of borrowing the money is part of the 
cost of the stadium.

Allen Graetz
MPLStown

Bruce Gaarder wrote:

>
>3)  The editors of the Strib wrote on Tuesday that the Twins would
>be putting up 36% of the cost.  Other articles have stated the cost
>as $478 million with the team putting up $125 Million.  The editorial
>is either deliberately misleading (the public share is $478M - $125M
>= $353M, $125M is 35.4% of $125M) or sloppy editing ($125M is 26% of
>$478).  I'm not inclined to cut them slack on an editorial about what
>they consider so vital to their well-being.
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