New water park plans discussed
Tentative plans for a new water park near Mall of America are taking shape. In late January, a joint City Council and Port Authority Commission meeting reviewed the deal structure in more detail. The meeting confirmed that the Council and the Port Authority are interested in additional exploratory measures and continuing the project. Funding the cost of a design contract for building plans and specifications is the next step.
Slated to be one of the country’s largest, the new 250,000-square-foot water park would bring an estimated
$1 million in admissions taxes to the City’s general fund, as well as an incremental increase in lodging tax revenue to Bloomington.
“The City and Triple 5 have structured a project that protects Bloomington property taxpayers and provides a new amenity for our region,” Mayor Gene Winstead said.
The water park would function as a separate nonprofit entity and be open to the general public. A nonprofit entity would issue bonds for the $250 million project. No Bloomington property taxes would be used for the project debt. The City would take over operations after the debt is paid off in 30 years. Construction could begin in 2020 and take two years to complete.
For information, visit blm.mn/waterpark or call 952-563-4861.