Gov. Dayton says he plans to release a plan next week that borrows $750 million for public works projects across Minnesota.
He says the plan will include funds to renovate the Minneapolis Veterans Home and the expansion of civic centers in Mankato, Rochester and St. Cloud. The governor also says he’s including money to continue the renovation of the State Capitol. The state has already committed $44 million for that project.
“It will have to include that [Capitol Renovation] or the project will not go forward,” Dayton said.
Dayton says he’s planning to propose a bonding bill this year and another one next year.
Supporters argue that they should push for bonding bills this year because interest rates are low and the construction industry is still recovering from the economic downturn.
Critics argue the state shouldn’t take on more debt at a time when Minnesota is facing a $627 million deficit.