Posted at: 04/11/2013 3:28 PM
Updated at: 04/11/2013 5:41 PM
By: James Wilcox
Details on Revised DMC Funding Plan
(ABC 6 NEWS) -- The big issue in Mayo's Destination Medical Center plan has been how much public money would be needed. The original number was $585 million. Under a revised plan, that amount would be reduced and capped at $525 million.
The new plan also calls for private investors to commit at least $150 million and local governments to pledge $60 million *before* any state contributions are made.
Under the original proposal, Rochester had agreed to pay at least $20 million which would come from the city sales tax extension that was approved by voters in November.\
Rep. Kim Norton says the changes are part of a Senate bill. The House bill is expected to be announced Monday.