MINNEAPOLIS (AP) — The board overseeing the Vikings stadium project says the owner of the site for the $975 million facility has grossly overstated the property’s value.
The Minnesota Sports Facilities Authority says Minneapolis Venture LLD has inflated the property’s development potential and value — to nearly double the authority’s appraised value.
The Star Tribune reports (http://bit.ly/1474Gcy) the authority also says Minneapolis Venture can’t end an agreement to use part of the block as a public plaza before NFL games.
Jon Austin is a spokesman for Minneapolis Venture. He says the authority is making a nonexistent claim to the property and falsely demanding that Minneapolis Venture dedicate its land to the Vikings without compensation.
The authority made its allegations Friday in a counterclaim to a lawsuit filed this month by Minneapolis Venture.
Information from: Star Tribune, http://www.startribune.com