Dayton Unveils $1B Bonding Bill
Governor Mark Dayton proposed a $1 billion bonding bill on Monday that is focused on creating jobs and stimulating economic growth in the state.
Dayton proposed that the state invest $531 million in more than 300 infrastructure projects, including $20 million for a new St. Paul Saints stadium and $51.3 million for a new physics and nanotechnology building at the University of Minnesota.
In an unusual move, Dayton proposed that the remaining funding-$470 million-be used for projects that the Minnesota Legislature “deems most important.”
“This approach is in keeping with the hand of cooperation that I have extended to the Legislature, inviting all of them to work in partnership with me to help create more jobs throughout our state,” Dayton said in a statement. “I urge them to act swiftly to pass this bill. Every day delayed is another day when unemployed Minnesotans are left sitting, rather than working.”
A majority of the projects proposed by Dayton-more than $231 million-are for educational opportunities. In addition to the $51.3 million physics and nanotechnology building at the U of M, Dayton also proposed that the state spend $127.6 million for projects at institutions within the Minnesota State Colleges and Universities system.
St. Paul Mayor Chris Coleman released a statement on Monday applauding the fact that Dayton included a new Saints' stadium in the bill. The city and the Saints have already committed a total of $20 million for the stadium.
“When completed, the Saint Paul Regional Ballpark will not only host the Saint Paul Saints and high school tournament games, it will generate $10 million in economic growth for our region annually,” Coleman said in a statement.
Other projects Dayton identified as major funding recipients include $28 million for flood hazard mitigation in areas that are currently bracing for spring floods and $19 million to the Department of Natural Resources for asset preservation across the state.