Reworked Mayo finance plan ups local, private ante

Reworked plan to help Mayo with expansion up local share, private ante before state chips in

Associated Press

ST. PAUL, Minn. (AP) -- A reworked proposal for a publicly aided Mayo Clinic expansion plan relies on a heavier local match and requires a bigger private ante before the state of Minnesota chips in.

Revisions aired Monday in the Senate Taxes Committee would withhold state dollars until $250 million is spent on upgrading the clinic and associated development around Rochester. That's $50 million higher than the trigger in a companion House bill.

But in exchange, the Senate proposal would allow for a higher total state contribution, approaching $400 million in aid and tax breaks.

A range of local taxes would generate at least $128 million.

Mayo says none of the public money would go toward its buildings. The goal is to have the state assist with roads, sewers and other public infrastructure.

View Comments (0)