St. Cloud project in bonding proposal

St. Cloud project in bonding proposal Click to Enlarge Photo:

Apr 8, 2013 at 5:07 pm

ST. PAUL, Minn. (AP) A $109 million commitment to Capitol preservation is the biggest element of Gov. Mark Dayton plan for Minnesota-financed construction projects.

His wish list outlined Monday also includes substantial funding for new labs at public universities, a new building on the Minneapolis Veterans Home campus and civic center improvements in Mankato, Rochester and St. Cloud.

The St. Cloud project calls for the construction of a new parking ramp adjacent to the River's Edge Convention Center.

In all, Dayton would finance $812 million worth of projects, relying on more than $720 million in state borrowing and the rest from other sources.

The bonding bill is a rare example this year of where GOP buy-in is necessary. It takes a three-fifths vote to pass one; Democrats are short of that margin on their own.

Dayton says low interest rates make it a prime time to borrow.

House Democrats will release their proposal Tuesday.

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