Updated: 10/28/2013 3:04 PM
Created: 10/28/2013 12:18 PM KSTP.com
By: Kate Renner
Officials have finally hammered out an agreement over who will pay for a $97 million renovation of Target Center in Minneapolis. The City of Minneapolis will pay $48.5 million, the Timberwolves and the Lynx will pay $43 million and the Target Center operators, AEG, will pay $5.5 million.
Timberwolves and Lynx owner Glen Taylor says while it's not a new arena, a remodeled Target Center will serve its purpose.
The renovations will add more gathering spaces and more premium seating for fans. Upgraded loading docks, lighting and sound equipment will make it easier for concerts to come to Target Center. Updates will also be seen from the outside: a glass atrium will be built looking over Target Field and over a patio on the First Avenue side.
Construction should begin in the spring or summer of 2014. The project will be done in stages as to not disrupt any basketball games or concerts. The entire renovation project should take between 18 months and two years.
As a part of the renovation deal, the Timberwolves and the Lynx agreed to stay in Minnesota until 2032.