Board watching over massive Mayo expansion to meet
ROCHESTER, Minn. (AP) — An eight-member panel helping steer the massive Mayo Clinic expansion project in Rochester is meeting for the first time.
The Destination Medical Center Corporate Board was gathering Friday in another step toward moving the multibillion-dollar build-out from the drawing board into reality.
The board of the nonprofit corporation will eventually adopt the development plan of an expansion aided by a public subsidy. The public dollars are offsetting some of the infrastructure projects deemed necessary to make the clinic’s growth possible.
By law, Gov. Mark Dayton is required to convene the initial meeting. One of his four appointees to the board will become chairman.
The package approved in May by the Legislature allows up to $585 million in state and city funds. It should leverage many times that in private investment.