ST. PAUL, Minn. (KTTC) -- Mayo Clinic's proposal that Minnesota taxpayers help fund major infrastructure improvements in Rochester has been approved by the House Jobs and Economic Development Committee.
Mayo's vision for a cosmopolitan urban center in Rochester is ambitious and would involve the Clinic investing billions of its own money in a substantial development plan if the state commits to defraying some public infrastructure costs. Mayo officials propose diverting a slice of future tax revenue to pay for more than $500 million in upgrade costs. Officials insist the money wouldn't directly feed construction at Mayo itself.
While praising the initiative, top lawmakers from both parties say they are worried about setting a precedent that other companies and communities would come to expect.
The House Jobs and Economic Development Committee heaped praise on the concept before endorsing the bill Thursday.
NewsCenter's Peter Schuneman was at the State Capitol and will have more tonight at 5 and 6 p.m. on KTTC.
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