Thursday, August 12, 2010

Federal stimulus revives $130M Mall of America hotel plan

BLOOMINGTON, Minn. — The federal stimulus package is allowing the Mall of America to revive its long-delayed plan for an upscale $130 million hotel.

The 2009 federal stimulus bill made tax-exempt bonding authority available to Hennepin County for qualified construction projects that can get under way quickly. The Bloomington Port Authority wants to issue $40.3 million in tax-exempt bonds for the project.

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