South Loop water park project update
After discussion by the Council and Port Authority in July, the City will be entering into a public-private partnership with the nonprofit Provident Resource Group. Provident would own, borrow money for and operate the proposed $260 million water park for 30 years. Triple 5, the developers that own Mall of America, would lease the land for the water park to the City. In turn, the City will sublease it to Provident. The water park would function as a separate nonprofit entity and be open to the general public.
The new 330,000-square-foot water park would bring an estimated $1 million in new admissions and lodging taxes to the City. No Bloomington property taxes are at risk for the project debt. A discount on admission to the water park for City of Bloomington residents is planned.
Construction could begin in 2020 and take two years to complete. For information, visit blm.mn/waterpark or call 952-563-4861.