►
Description
March 9, 2022 City Council / Port Authority Concurrent Meeting
0:00:00 Start
0:04:31 2.1 December 9, 2021 Concurrent City Council Port Authority Meeting Minutes
0:06:53 3.1 PUBLIC HEARING: Spending Plan for tax increments from MOA Tax Increment Financing Districts and consideration of a Redevelopment Agreement and TIF Loan Agreement related to the MOA Waterpark Project, and a Purchase and Option Agreement
2:40:56 3.2 Bloomington Central Station Residential #4 (BCS4)
3:19:34 3.3 Wayfinding Agreement Amendment - PORT AUTHORITY ONLY ACTION
3:22:39 3.4 Acknowledge Determination Regarding Telephone or Interactive Technology Meetings and Shift Back to In-Person Meetings - PORT AUTHORITY ONLY ACTION
A
A
C
A
A
A
A
All
right,
we,
we
have
a
handful
of
items
on
our
agenda
tonight,
some
of
them
meatier
than
others.
We
don't
have
to
approve
the
agenda
officially,
we'll
have
it
in
front
of
us
we'll
work
off
of
what
we
do
have
we
do
need
from
the
city
council
side
and
then
from
the
port
side.
We
need
a
motion
to
approve
the
minutes
from
the
december
9th
2021,
concurrent
city,
council
and
port
authority
meeting.
G
A
C
I
I
A
I'll
call
under
our
new
business,
let's
call
item
3.1,
which
is
a
public
hearing.
It's
a
spending
plan
for
tax
increments
from
all
of
america;
tax,
increment
financing
districts
in
consideration
of
a
redevelopment
agreement
and
tiff
loan
agreement
related
to
the
moa
water
park
project
and
a
purchase
and
option
agreement.
So
we'll
have
a
snap
presentation
here,
have
a
discussion
on
this
and
then
open
the
public
hearing
on
the
on
the
appropriate
items.
Here,
mr
rudlang.
J
J
All
right
so
again
we're
talking
here
about
the
water
park
and
the
adjoining
lands,
which
is
the
land
east
of
the
mall
of
america
for
expo
so
for
the
agenda
tonight
we
will
review
the
water
park
project
generally
review
the
past
council
and
port
action
related
to
that
project.
Talk
a
little
bit
about
the
tiff
law
that
was
passed
in
2021.
That
gives
us
flexibility
to
to
do
some
things
that
we
were
not
able
to
do
before.
J
People
might
be
tired
of
me
doing
that,
but
I
did
include
this
one
side
and
slide,
which
is
really
the
the
key
and
the
intent
of
this
project
is
to
accelerate
the
district's
development
and
frankly,
in
the
past
three
or
so
years,
we've
really
seen
an
acceleration
of
the
development
in
the
district,
and
I
think
it's
just
a
testament
to
all
the
work
that
the
council
and
port
staff
etc
have
been
doing.
The
development
community
is
really
responding
to
the
actions
that
the
boards
have
been
taking.
J
So
the
water
park
you've
seen
these
slides
before,
but
I
will
just
move
through
them
relatively
quickly.
The
water
parks
north
of
the
mall
of
america,
public
improvements
include
in
large
part
the
parking
structure
that
would
get
built
to
the
east
of
the
water
park,
a
perspective
view
of
the
water
park
and
the
parking
structure
and
then
a
potential
hotel
as
the
next
phase,
with
additional
parking
and
then
future
phases
of
mall
of
america
and
yellow
that
are
certainly
less
defined.
J
It
would
be
the
largest
indoor
pool
hall
for
a
water
park
in
north
america,
pools
and
water
parks
are
calculated
by
gross
building
area
and
various
things,
but
this
project
would
have
the
bragging
rights
if
you
will
for
that,
and
also
the
largest
beachfront,
which
of
course,
is
prime
property
for
putting
out
your
beach
chair,
and
so
this
has
been
on
the
subject
of
12
prior
city,
council
and
or
port
authority
meetings.
Many
of
them
can
current
meetings
like
this
starting
in
march
of
2018,
and
here
we
are
tonight
close
to
march
6th.
J
So
really
what
these
documents
do
and
what
we
talked
about
on
december
9.
Is
this
slide?
I
think
this
is
probably
arguably
the
most
important
slide
in
the
deck,
and
it
really
just
it
says
what
we're
here
doing
tonight.
So
we're
doing
a
financing
framework
for
triple
five,
the
owners
of
mall
america
to
go
and
pursue
the
final
documents
to
fund
the
water
park.
It
relies
upon
tif
investment
in
the
form
of
30
million
dollars,
made
available
through
the
spending
plan
tool,
which
is
the
2021
to
flexibility.
J
And
if
that
doesn't
happen,
then
this
loan,
this
nine
and
a
half
million
dollars
that
we
paid
on
down
payment,
is
repaid
by
triple
five
over
a
four
year
period,
and
so
that
that's
really.
What
we're
doing
here
tonight
is
we're
providing
a
financing
framework
for
the
mall
to
go
and
get
the
final
documents
done
with
us
and
with
others
to
do
the
project
and
securing
the
course
site
for
the
expo
on
the
on
the
adjoining
lands.
East
of
the
mall
of
america.
J
So
the
pandemic,
of
course,
has
impacted
almost
everything
that
everybody
has
done
over
the
past
two
years,
but
it
certainly
slowed
the
project
down.
We
were
fairly
close
to
an
agreement
with
triple
five
and
then
potential
consideration
and
approval
by
the
boards
to
do
the
project
back
in
the
spring
of
2020.
J
Obviously
the
pandemic
hit,
but
in
the
summer
of
2021
things
have,
you
know,
started
to
come
back,
then
we
had
omicron.
You
know.
Where
are
we
at
today?
It
seems
like
it
changes
every
couple
of
weeks
now
it
feels
like
omicron's
in
the
rear
view,
mirror
and
kobe
may
be
waning,
but
we
all
know
that
we're
a
variant
away
from
being
back
and
masks
and
and
we're
more
hunkering
down,
but
we'll
we'll
just
see.
J
J
J
Now
we're
heading
into
the
spring
break
months,
and
those
are
you
know
some
some
good
weeks
in
the
hotel
business
and
we'll
see
how
that
looks
in
the
in
the
coming
months
here
and
then
the
2021
tax
bill
that
really
allows
us
to
do
this
private
financing
model
for
the
water
park.
It's
similar
to
some
legislation
that
was
passed
in
2011,
it's
a
very
flexible
tool.
Its
purpose
is
to
get
development
going
and
has
various
rules.
J
Just
like
any
project,
we
do
a
needs
analysis.
We
dig
into
the
pro
forma
on
projects,
certainly
with
the
water
park,
with
the
nonprofit
model.
We
were.
We
were
the
entity
doing
the
majority
of
that
work
with
the
private
financing
model,
we're
certainly
on
the
sidelines
more
more
looking
in
than
we
are
managing
the
performance
itself,
but
this
is
a
performer
that
we
are
very
familiar
with
from
the
work
that
we've
done
in
the
past
on
the
project.
J
Triple
five
has
a
different
pro
forma
than
what
we
had
in
2000.
At
the
you
know,
early
2020
and
in
2019.
Their
revenue
projections
are
up
a
lot
of
the
data.
That's
come
out
about
what
people
are
willing
to
spend
at
disney
and
water
parks,
and
things
like
that
has
caused
them
to
adjust
revenue
projections.
Upwards
and
expenses
have
gone
both
up
and
down.
Some
expenses
have
gotten,
you
know
more
fine-tuned
because
of
their
experience
at
other
water
parks
and
then
property
taxes.
J
The
estimate
on
that
has
been
increased
due
to
the
increased
revenue
and
potential
increase
in
noi.
That's
just
an
estimate
of
course,
so
the
private
performance
does
exceed
our
estimates
from
2019,
and
the
real
kicker
here
is
that
the
risk
of
the
private
performa
not
being
right
in
particular,
being
understated
or
excuse
me
overstated,
which
could
lead
to
a
default,
is
on
the
developer
in
this
project.
J
So
in
the
private
financing
model
I
mean
one
of
the
main
benefits
to
bloomington
and
the
port
authority,
and
the
city
is
that
we
are
now
yet
another
step
away
from
financial
risk
related
to
the
project.
Again
on
the
nonprofit
model,
we
worked
for
years
to
minimize
the
risk
and
we're
really
in
a
position
at
that
point
that
you
know
it's
my
opinion.
The
risk
was
was
highly
managed
for
that,
but
even
even
less
so,
with
this
model,
one
of
the
things
that's
been.
C
J
One
of
the
ways
to
manage
and
utilize
the
flexibility
in
the
2021
tax
bill
is
to
bond
for
the
committed
public
improvements
and
save
the
cash
balances
that
we
have
currently
today
for
other
projects
that
we
may
want
to
use
a
spending
plan.
For
again.
This
isn't
something
that
the
council
is
formally
making
a
decision
on
tonight,
but
we'd
be
interested
in
folks
opinions.
J
So
the
geo
pledge
reduces
the
cost
of
borrowing
by
lowering
the
interest
rate,
but
it
does
have
that
additional
risk,
and
so
we've
tended
as
staff
to
to
focus
more
on
the
non-geo
bonds
because
of
the
potential
risk.
But
we
believe
the
potential
risk
is
low
and
we'll
get
into
that
conversation
over
the
next
number
of
months
as
we
move
towards.
Hopefully,
a
closing
on
the
water
park
project.
J
J
The
other
thing
that
we
did
talk
about
in
december
9,
which
has
been
added
to
the
agreements,
is
a
discount
to
city
residents.
How
what
specifically
that
is,
is
yet
to
be
determined.
What
we
have
in
the
document
is
a
meaningful
discount,
which
the
mall
said
would
would
be
the
military
discount
rate
or
better,
which
currently
is
a
25
discount,
and,
of
course,
you
know
doing
this
agreement
again
secures
the
adjoining
lands
for
the
expo.
J
If
the
project
doesn't
move
forward,
we
do
have
seven
and
a
half
million
dollars
that
the
city
has
spent
from
the
salt
loop
development
fund
under
the
development
services
agreement,
the
dsa
for
the
project
certainly
reputational
risk
exists.
You
know
we're
involved
in
a
project
if
it
doesn't
perform
again,
we
don't
have
financial
risk,
but
it's
something
that
you
never
want
to
do
be
associated
with
a
project
that
doesn't
live
up
to
expectations.
J
There's
always
the
potential
for
ownership
changes
at
the
mall.
The
mall
now
has
a
number
of
different
llc's
that
on
different
components
of
the
project,
radisson
blue
is
owned.
Different
llc
than
the
mall
itself,
which
is
a
different
llc
than
the
land,
which
is
a
different
llc
than
the
north
side,
and
and
so
on.
There's
many
llc's
that
exist
out
there.
J
J
J
The
biggest
risk
by
far
is
that
the
project
just
can't
pay
its
debt.
It
borrows
the
sums
for
the
project
and
it
can't
can't
be
paid,
but
again
that
born
that
risk
is
borne
by
the
developer
and
not
the
city
and
port
authority,
and
just
like
the
mall
experienced
in
2020
with
the
pandemic,
you
know
the
the
mall
defaulted
on
their
on
their
mortgage
project
was
closed
for
a
number
of
months,
but
we
staff
felt
that
the
project
is
always
going
to
be
a
big
mall.
J
The
real
estate
is
just
too
valuable
to
not
continue
as
a
mall,
so
the
chances
of
it
going
dark
were
were
very,
very
slim,
and
you
know,
I
think,
if
anything
stress
tested
a
project
like
that
it
would
be
the
pandemic
and
so
same
thing
is
true
with
the
water
park.
If
the
project
defaults,
there's
just
a
really
high
likelihood
that
it's
going
to
remain
a
water
park,
but
you
would
have
a
debt
reset,
like
happens
in
real
estate
projects
from
time
to
time,
and
certainly
there's
risks
of
not
doing
the
project.
J
J
Right
now,
the
project
is
over
budget,
as
many
construction
projects
are
literally
every
project
that
we
worked
on
in
the
past
few
years
is
over
budget
because
of
labor
and
material
cost
increases,
and
so
what
we're
proposing
tonight
is
up
to
5
million
dollars
be
set
aside
in
the
spending
plan
to
pay
for
sustainable
measures
that
currently
aren't
in
the
budget.
If
the
council
and
port
want
them
to
be
included
in
the
project,
which
would
be
a
conversation
that
would
happen
in
the
future,
once
design
is
restarted,.
J
J
Feasibility
study
is
triple
fives
and
not
the
ports,
and
you
know
the
action
that's
being
considered
tonight.
If
the
council
import
approve,
it
is,
is
really
what
you
know.
Design
will
start
in
earnest
and
triple
five
will
be
out
there,
marketing
the
financing
options
for
the
project,
and
you
know
we'd
be
coming
back
to
the
council
in
port
with
the
next
set
of
documents
within
the
next
six
months.
J
It's
got
a
private
cost
of
about
317
million.
The
public
cost
would
be
75
million
from
for
the
committed
public
improvements,
largely
parking
and
30
million
dollars
in
the
spending
plan,
and
that
adds
up
to
105
million.
So
that's
the
public
investment
you'll
see
the
spending
plan
has
a
55
million
dollar
number
in
it,
and
the
reason
that
is
is
because
the
some
spending
plan
items
are
included
in
the
75
million
dollar,
committed
public
improvement
number.
J
Those
are
things
that
you
need
to
use
this
the
spending
plan
tool
in
order
to
spend
them
for
the
waterpark
project.
They
used
to
be
funded
by
the
salthip
development
fund
and
we've
since
taken
that
out,
which
is
again
one
of
the
benefits
of
the
project.
So
you've
got
a
total
project
of
about
422
million
dollars.
There
are
some
financing
reserves
and
things
like
that
that
get
you
up
to
over
500
million,
but
really
it's
a
422
million
dollar
project.
J
We've
got
the
public
private
ratio,
so
this
is
an
artifact
of
the
2016
master
redevelopment
contract
that
we
have
with
triple
five
through
the
years.
There's
been
a
lot
of
talk
about
public
private
ratios
and
you
know,
frankly
how
they
can
help
taylor
and
in
some
ways
limit
development
and
lim
and
limit
the
public
investment
in
projects.
J
Here
we
are
with
looking
at
a
project
that
has
a
high
public
private
ratio
and
in
the
term
sheet
from
december
9,
the
agreement
was
that
we
would
adjust
the
public
private
ratio
to
accommodate
the
water
park
project,
and
we
will
put
more
detail
on
this
in
the
ancillary
documents
when
we
bring
that
to
the
council
and
port
authority
again
in
the
next
six
months.
Assuming
the
project
is
able
to
come
to
a
closing,
but
there's
no
doubt
it's
a
it's.
A
healthy
public
investment
in
the
project.
B
It's
money
that
we
have
in
hand.
It's
also
money.
That
is
all
fenced,
as
I
will
talk
about
it
because
it's
all
dedicated
to
this.
So
I
I
think
that
you
know
if,
as
we
go
forward,
we're
probably
dealing
with
a
a
little
different
situation,
obviously
than
we
were
30
some
years
ago,
when
we
went
into
this
project
where
everything
was
on
the
come,
we
had
to
make
it
we
had
to
to
get
all
the
dollars
in.
So
I
think,
as
we
we
talk
about
these
public
private
races
in
the
future.
B
J
Thank
you,
mr
president.
All
true,
so
the
schedule
is,
is
pretty
simple.
Now
moving
forward.
If
the
council
import
approved
the
documents
tonight
sometime
in
the
third
quarter,
call
it
late
summer
would
be
a
financial
closing.
We
would
schedule
a
council
import
meeting
as
close
to
closing
as
possible.
J
J
Okay,
so
getting
into
the
details
a
bit
so
there's
four
key
documents,
three
agreements
and
then
one
other
document.
The
spending
plan
again
we'll
have
a
public
hearing
on
that
here
tonight.
So
we've
got
the
redevelopment
agreement
and
purchase
an
option
agreement
for
the
joining
lands
to
float
agreement
and
the
spending
plan
we'll
go
through
that
in
relative
detail.
Just
a
lay
of
the
land.
Literally
I'm
talking
about
the
adjoining
lands
east
of
mall
of
america.
J
J
J
One
other
detail:
the
public
plaza
reimbursement,
so
that
was
under
the
nonprofit
model,
going
to
be
waived
and
in
this
project
we're
suggesting
that
it
be
waived
as
well.
But
we
add
that
the
funding
that
five
million
ish
dollars
to
recapture
potential,
so
we
increase
the
amount
that
in
theory,
could
be
paid
back
if
the
project
over
performs
the
amount
of
the
public
plaza
reimbursement.
J
Again
needs
analysis,
completed
the
city
and
port
and
the
documents
make
no
representation
to
the
accuracy
of
the
pro
forma.
We
create
that
distance
between
the
financing
and
risk
by
the
city.
The
bloomington
resident
discount
is
required
and
we
would
be
baked
into
the
ancillary
documents
when
we,
when
we
draft
those.
A
J
The
bloomington
resident
discount-
yes,
yes,
yep,
so
that
that
is
something
that
is
required
in
the
in
the
documents.
We've
had
informal
conversations
with
them
all
about
it,
we're
still
working
on
how
that
works,
but
it
the
way
the
documents
say
to
be
meaningful
and
what
we've
talked
about
is
that
it
would
be
at
least
the
military
discount
again,
which
is
25
currently.
G
B
J
So,
moving
on
to
the
purchase
and
option
agreement,
so
this
is
the
adjoining
lands
purchase
an
option
agreement
for
the
expo
site
again.
This
gives
us
a
right
to
buy
that
site
if
the
site
is
selected
by
expo
and
it
also
acts
as
security
for
the
tif
loan
that
we
would
be
making
to
mall
of
america
for
the
water
park
project.
J
Again,
these
key
points
are
are
directly
from
the
loi.
The
purchase
and
option
agreement
has
a
lot
of.
If
then,
statements,
meaning
if
this
happens
with
the
bie
vote
for
the
expo,
the
bureau
of
international
exhibitions
vote
for
the
expo,
then
these
various
things
things
happen,
but
in
essence
it
lays
out
a
way
for
the
city
to
control
that
site
using
tiff
from
the
mall
of
america
project.
B
Yes,
I
better
put
this
on
there's
one
other
point
that
I
think
is
important
for
people
on
both
ports
to
understand
in
the
public
people
look
at
the
52
interest
rate
or
0.52,
and
they
say
gee,
that's
pretty
low,
but
really
all
the
city
in
port
are
trying
to
do
is
to
recover
the
same
rate
that
we're
earning
on
those
funds
now,
so
that's
really
equitable.
In
that
sense,.
J
Thanks,
mr
president,
and
just
for
for
clarity,
that's
the
city's
current
investment
rate.
We
have
folks
that
invest
the
cash
that
we
have
and
there's
rules
about
how
the
city
can
do
that
internal
policies
and
others,
and
we
take
very
low
risk
and
that's
why
the
interest
rate
is
is
so
low
because
it's
it's
just
really
carefully
managed
so
that
we
make
sure
that
we
don't
lose
money.
We're
not
investing
in
some
risky
investments
or
anything
like
that.
J
J
And
then
we've
got
the
spending
plan
and
again
it's
55
million
and
that's
overlaps
with
some
of
the
75
million
and
as
stated
there,
it's
30
million
that
goes
directly
into
the
waterpark
project
and
then
another
10
million.
It's
point
x,
x
million
for
the
tiff
loan,
and
then
we've
got
the
committed
public
improvements
that
were
going
to
be
spent
out
of
the
salt
loop
development
fund.
Those
are
roughly
10
million
dollars
and
then
we've
again
added
some
space
for
sustainability
features.
J
J
And
then
there's
this
list
of
documents,
we
call
them
ancillary
documents
or
ancillary
agreements,
sometimes
that
come
along
with
a
project
like
this,
and
there
are
many
of
them,
I'm
happy
to
go
into
detail
on
any
of
them.
Probably
the
most
important
one
is
the
recapture
agreement,
but
the
the
die
has
been
cast
if
you
will
and
what
we
agreed
to
in
the
loi
is
to
model
the
waterpark
recapture
agreement
after
the
phase
1c
recapture
agreement,
which
has
been
used
as
a
model
for
bloomington
central
station
projects
and
others.
J
J
B
J
Mr,
mr
president,
commissioners,
that
that's
right,
our
existing
tiff
balance
is
roughly
80
as
it
sits
here
today
and
then
we've
got
another
20
million,
plus
or
minus
in
land
value
with
the
ramada
site,
and
so
call
it
a
100
million
dollars
for
easy
math.
That
number
does
change,
because
we
get
tiff
in
twice
a
year
to
the
tune
of
about
9
million
dollars
a
year
right
now
and
but
yeah
that's
right.
I
Yes,
thank
you,
president
erickson
just
simple
question.
I
want
to
get
it
want
to
know.
If
there's
been
any
change
on
the
proposed
revelation
date,
when
the
bie
will
announce
their
decision
of
the
city
location
for
the
2027
world
expo,
it
was
originally,
I
believe,
going
to
be.
This
fall.
I
recall,
maybe
at
the
december
9th
moving
it
was
into
23..
K
J
J
So
there's
honestly
not
a
lot
of
science
to
that,
and
I
mean
obviously,
I
think
five
million
dollars
would
buy
a
lot
of
sustainable
items
and
again
we
just
wanted
to
create
space
so
that
the
council
could
decide
to
add
those
features
if
they
wanted
to.
But
to
answer
your
question
directly,
it's
there's
not
a
lot
of
science,
because
the
science
or
engineering
architecture
on
it,
because
we,
the
project
design,
has
not
restarted
in
earnest
yet
and
won't
until
after
tonight,
if
the
council
on
port
approved
the
documents.
K
J
K
J
You
know
it
will
there
be
recapture
on
the
project.
Nobody
knows
sitting
here
today,
but
we
would
definitely
bake
that
into
the
recapture
and
kurt,
and
I
haven't
talked
specifically
about
that,
but
that
is
someone
alluded
to
in
the
documents.
So
I
I
think
that's
fair
to
say
that
we
would
have
that
in
there.
K
Thanks,
I
just
wanted
to
be
clear
in
terms
of
of
what
that
number
was,
how
we
kind
of
got
to
that
number,
and
if
there
was
a
you
know,
if
there's
something
more
that
should
be
or
could
be
done,
we
could
at
some
a
later
point
increase
that
number
and
we
would
still
be
able
to
you
know
if
we
see
success
in
a
potential
project,
look
to
get
some
recapture
off
of
that.
Okay,
so.
J
F
F
J
J
F
J
F
So,
to
clarify
even
even
more
succinctly
the
answer:
there
is
yes
there
there
are
no
more.
There
are
no
more
planned
expenditures
from
the
southwest
development
fund,
as
this
project
is
laid
out.
It's
entirely
the
all
the
expenses,
as
far
as
we
know,
are
planning
to
come
from
this
moa
tif,
correct,
yes,
okay,
thank.
L
L
J
If
we
do
this
water
park
project,
and
so
that's
that's
the
connection,
there
is
no
t5
triple
five
involvement
with
the
expo
project
at
this
time,
except
for
we're
using
tiff
generated
from
the
mall
project
to
secure
it
temporarily
and
cash
out
the
equity
that
triple
five
has
in
the
adjoining
lands.
So
the
land
is,
you
know
it's
like
you
have
equity
in
your
house.
J
You're
able
to
you
know,
get
a
second
mortgage
of
sorts
to
capture
that
equity
and
do
something
else
with
it.
In
this
case
we
came
to
an
agreement
with
them
that
they
could.
They
could
do
that
they
could
cash
out
that
equity
that
they
have
only
if
they
use
it
for
the
water
park.
We're
not
cashing
it
out
so
that
they,
you
know,
can
spend
it
on
some
other
project,
and
the
byproduct
of
that,
of
course,
is
that
we
get
site
control
for
the
expo.
L
Yeah,
I
think
so.
I
appreciate
that
I
want
to
make
sure
that
it's
not
if
something
doesn't
happen
that
we're
obligated
to
do
it
for
some
other
reason.
Let
me
just
talk
asking
questions
about
the
the
risk
of
the
water
project,
because
I
think
that
was
a
big
concern
with
the
previous
funding
model
and
what
is
the
city
taxpayer
risk
of
what
we're
looking
at
with
this
water
project
if
it
doesn't
perform.
J
J
The
only
taxpayer
risk
again
is
if
the
council
and
port
decide
to
sell
debt
for
the
public
improvements
and
also
decide
to
pledge
the
city's
go
to
that,
which
I
think
is
the
less
likely
option.
But
it's
something
that
we
will
talk
about
and
present,
and
the
council
and
port
can
decide
again
that
will
ensure
that
the
debt
is
slightly
less
expensive,
but
it
does
have
the
additional
risk
of
putting
the
property
taxpayers
as
a
debt
backstop.
J
But
again
I
think
it's
less
likely
that
the
council
will
decide
to
do
that,
but
you
never
know
because
I
think
the
the
the
bonds
that
would
back
up
that
debt
are
the
tif
that's
generated
from
the
mall
project
itself
and
even
through
the
pandemic,
those
those
tax
bills
were
paid
again.
They
were
paid
a
little
late
in
2020
due
to
the
pandemic
and
the
project
closing,
but
ultimately
they
were
paid.
J
And
so
I
think
that
repayment
sort
of
sources
is
very
secure
and
I
think
the
people
that
would
buy
those
bonds
would
agree.
But
again,
that's
something
the
council
and
port
can
decide,
but
that's
the
only
tie
to
the
city,
the
city's
general
fund,
that
we
have
in
the
project
and
it's
certainly
something
that
the
council
can
decide
to
not
do.
D
Thank
you,
mr
mayor
good,
segue
into
the
question.
I
was
going
to
ask
because
I
wanted
to
talk
about
the
bonding
question.
So
what
there
are
a
number
of
numbers,
if
you
will,
I
think,
we're
all
kind
of
clear
on
them,
except
for
me.
Maybe
there
was
a
55
million
dollar
number,
a
75
million
dollar
number
and
a
30
million
dollar
number.
Can
you
just
describe
the
differences
between
those
or
do
they
roll
up
to
thing?
D
J
Thank
you,
mr
mayor
council,
members
and
councilmember
d'alessandro.
So
so
this
slide.
So
what
we're
we've
got
in
the
documents
is
75
million
dollars
in
committed
public
improvements
and
30
million
dollars
in
equity,
and
the
spending
plan
has
this
overlap
and
the
spending
plan
is
up
to
55
million
dollars,
so
some
of
the
spending
plan.
Well,
let
me
put
it
a
different
way.
J
The
spending
plan
covers
the
30
and
then
a
portion
of
the
75.,
so
the
total
public
investment
potential
is
105
million
as
it
sits
today
and
if
you
add,
if
you
add
the
full
sustainability,
5
million,
you
get
up
to
110
million,
but
just
pretend
it's
105
million.
So
it's
relatively
easy,
math,
75
plus
30.
That's
it!
The
spending
plan
just
has
to
to
cover
those
expenses
that
you
can't
normally
spend
tiff
for
so
it
covers
the
30
and
it
covers
additional
costs
in
the
75.
J
Thank
you,
commissioner
delson
for
that
question,
so
that
would
be
outlined
later
and
we
need
to
separate
out
the
spending
plan
money
because
that
has
to
be
spent
in
cash
versus
the
committed
public
improvements
that
that
lie
outside
of
the
spending
plan
are
what
have
to
be
bonded
for
so
it's
roughly
60
million
or
so
is
the
answer
today.
But
we
would
put
more
more
precision
on
those
numbers
when
we
come
back
to
you
with
the
bonding
question.
D
J
You
thank
you,
mr
mayor
council,
members
and
councilmember
d'alessandro,
so
we
do
have
certainly
tiff
experts
on
the
line.
Who
can
answer
that
question
in
particular,
julie
eddington
knows
those
rules
better
than
anybody,
but
I
will
outline
them
from
my
perspective
and
if
there
are
more
detailed
questions,
julie
can
can
pop
on
and
and
and
do
that,
the
most
obvious
one
is
the
30
million
dollars
for
the
tif
equity.
J
Those
are
things
that
we
were
going
to
use
the
salt
loop
development
fund
for
before,
but
now
we
can
use
tiff
for
those
costs
and
so
they've
been
lumped
into
that
so
they're,
more
more
direct
costs,
we've
always
said:
there's
no
tiff
in
the
mall
of
america
building
itself
and
that's
true,
there's
no,
no
dollars
of
tiff
that
are
in
the
project
itself.
That
changes
with
the
2021
tax
bill
and
would
change
with
the
spending
plan,
because
there'd
be
money
going
directly
into
the
water
park.
D
Have
one
more
question
and
it's
not
related
to
that
part.
So
that's
why,
if
it's
okay
with
you,
so
the
the
I'm
curious
about
just
the
south
loop
development
fund
itself,
you
said:
there's
currently
about
80
million
in
there.
How
fast
does
that
generally
replenish
in
a
typical
year?
So
if
we
take
that
7.4
million
or
the
30
million
out
of
that
number,
what
do
you
look?
What
are
you
considering
it
being
replaced
in
you
know
what
time
frame.
J
Mr
mayor
council,
members
councilmember
alessandro,
so
so
we
have
two
funds
that
we're
working
with
here
or
that
we're
talking
about
tonight.
The
first
one
is
the
tiff
fund,
and
so
president
erickson
was
asking
about
our
tiff
balance
and
that
relates
to
the
spending
plan
and
we
have
again
80
million
in
there
roughly
and
another
20
million
in
in
equity
in
in
the
ramada
site.
J
So
that
gets
you
to
the
100
million
in
the
southwest
development
fund.
Our
balance
is
much
less
than
that
and
has
been
greatly
impacted
by
the
pandemic
and
does
have
unprojected
revenue
to
the
tune
of
six
or
seven
million
dollars
a
year.
But
every
year
we
spend
about
two
million
dollars:
a
loan
for
police
operations
in
south
loop
out
of
that
fund
subsidizing
the
general
fund.
J
But
that
fund
isn't
replenished
as
quickly
as
the
multifund,
because
there's
less
expenses,
unless
we
spend
that
on
a
big
project
like
this
on
an
annual
basis
and
there
are
other
lots
of
other
projects
in
the
south
of
dublin
fund.
So
once
a
year
we
come
to
the
council
and
port
authority,
even
though
it's
a
city
fund
managed
by
the
port
authority
staff
myself
and
staff,
we
come
in
and
give
an
overview
of
where
the
salt
development
fund's
at-
and
it's
probably
a
good
time
to
do
it,
as
is
right
now.
J
J
A
M
M
I
thank
you
guys
for
well
looking
at
shane's
staff
report,
four
plus
years
and
12
meetings
for
this
project,
and
I
I
feel
sorry
for
former
council
member
jack
baloga,
who
put
a
lot
of
time
and
effort
into
this
one
of
our
champions
and
kind
of
timed
out
it,
and
and
maybe
very
fortuitous
for
council
member
d'alessandro,
who
we
didn't
have
to
sit
through
all
of
that
and
gets
to
come
in
tonight
and
and
see
the
conclusion
of
this.
What
I
hope
is
the
conclusion
of
of
many
years
of
study.
M
M
It's
it's
we've
taken
that
what
was
kind
of
a
a
a
an
outline
agreement
that
we
we
reached
with
city
leadership
back
in
october
to
an
loi
form
that
was
agreed
to
by
the
boards
in
in
december
and
now
really
turn
that
loi
into
what's
about
300
pages,
I
accidentally
clicked
on
shane's
printed
the
agenda
today
and
literally
my
kill
the
tree.
I
think
it's
300
pages,
but
but
we've
been
working
hard
over
the
last
three
months
and
thanks
to
staff
and
and
your
your
legal
counsel
for
their
hard
work.
L
M
Brought
that
loi
terms
forward
and
is
what's
contained
in
the
agreements
that
you've
been
presented
with,
I
want
to
give
a
quick.
I
was
going
to
give
a
quick
design
overview,
but
shane
you
stole
a
few
of
my
slides,
so
I'll
go
through
this
really
quickly.
I
know
all
of
the
port
and
council
members,
with
the
exception
of
council
member
deals
founder
I've
seen
these
multiple
times,
but
we've
already
kind
of
covered
where
the
project
is
at.
M
This
really
just
shows
the
water
park
itself
and
a
partially
built
parking
deck
that
would
support
the
water
park.
This
shows,
where
kind
of
the
future
development
would
layer
in
including
the
water
park
hotel,
which
would
sit
next
to
it.
As
that
future
development
comes
online,
this
parking
deck
would
get
filled
out
to
complete
the
parking
for
these
future
phases.
M
This
is
really
a
shot
looking
at
if
you're,
sitting
right
outside
my
office.
Right
now
is
right
here.
So
if
you're
up
above
lindau
lane
and
ikea
way
going
east
on
lindau,
the
plaza
that
sits
there
today
is
really
would
get
consumed
with
the
water
park
itself,
and
you
get
a
great
view
of
it
from
that
intersection.
M
M
This
is
looking
at
it
from
within
mall
of
america.
This
is
from
our
third
level
food
hall
today.
This
is
a
second
level.
Common
area
would
be
a
giant
wall
of
glass
that
would
so
from
within
the
mall.
You
would
see
the
water
park
project
itself.
This
is,
from
the
opposite
end.
The
the
north
end
of
the
building.
M
M
I
think
an
important
one
to
really
hit
on
is
the
overnight
visitors,
so
the
hla
study
that
that
we
commissioned
you
know
a
couple
of
years
ago
projected
that
the
overnight
visitors
about
35
of
them
would
be
from
out
of
town
with
the
overnight
visitors
that
would
generate
somewhere
in
the
range
of
85
thousand
to
a
hundred
thousand
hotel
room
nights
each
year
in
each
of
those
guests.
On
average,
it's
been
about
372
dollars
outside
of
the
water
park.
That's
for
food
lodging,
hopefully
shopping
in
mall
of
america.
M
This
slide-
I
I
showed
maybe
a
year
or
so
ago,
it's
kind
of
difficult
to
follow
because
of
there's
a
lot
of
information
in
here.
But
what's
really
important
to
note
is
that
you
know
where
the
city
wants
to
get
to
what's
important
to
council
and
port
members
is
really
general
funding
for
strategic
priorities
and
all
of
the
city
general
fund
dollars
that
go
into
everything
that
the
city
funds
25
on
a
normal
year
last
year
was
a
little
less.
M
I
think
21,
but
generally
25
of
all
city
revenues
come
from
either
mall
of
america
or
the
hospitality
industry.
All
america
is
your
largest
taxpayer.
Hospitality
industry
is
your
largest
industry.
These
two
generate
25
percent
of
all
general
fund
dollars
that
go
to
fund
police
fire
strategic
priorities.
So
what
supports
small
american
hospitality?
Industry
obviously
is
traffic
and
tourism,
and
that's
what
these
categories
are
all
about.
That's
what
the
water
park
is
all
about.
M
M
N
So
it's
difficult
to
do
that,
but
we
intend
to
move
forward
with
something
that
has
not
been
done
before
in
terms
of
reaching
a
high
level
of
sustainability
with
this
kind
of
facility,
and
we
want
to
be
the
leader
in
reaching
this
type
of
the
most
sustainable
project
in
the
world.
For
this
kind
of
facility
to
demonstrate
how
and
how
bloomington
is
committed,
how
the
mall
is
committed-
we've
outlined
a
few
things
here.
N
Some
things
are
already
in
the
project
and
some
things
with
the
addition
of
some
of
the
funding
and
partnership
dollars
that
we
talked
about
tonight
will
really
achieve
that
high
level
and
just
before
getting
into
the
details.
On
this
slide,
I
like
to
really
acknowledge
our
long
working
relationship
with
the
bloomington
sustainability
commission
as
an
architect
that's
doing
work
in
all
parts
of
the
u.s.
N
So
I
just
have
two
quick
slides
here
to
kind
of
cover
a
few
things
tonight
and
they
describe
some
of
the
sustainability
measures
that
already
are
planned
for
the
project
and
also,
as
one
of
the
questions
was
asked
earlier.
How
do
we
intend
to
use
in
the
most
efficient
manner
and
to
achieve
some
of
the
things
with
extra
partnership
dollars
from
the
city
of
bloomington?
N
N
N
N
N
M
Financial
risks.
I
can
really
talk
about
actually
very
fast
because
I
think
shane
you
did
a
great
job
of
covering
that
in
your
staff
report
and
your
intro
basically,
but
when
we
shifted
from
the
non-profit
model
to
the
private
model,
the
financial
risk
shifted
with
it
right.
So
the
financial
risk
is
now
born
entirely
by
the
developer
and
its
private
lenders.
There
is
no
financial
risk
in
bloomington
or
its
taxpayers,
as
I've
stated
early
on
in
this.
M
M
The
next
steps
is
design
completion,
assuming
the
tip
loan
is
approved
tonight,
along
with
the
water
park
and
the
site
control
agreement,
we'll
move
right
into
david
and
his
team
are
lined
up
to
start
tomorrow
to
complete
the
design
that
was
put
on
hold
two
years
ago.
We've
got
about
three
to
four
months
worth
of
design
work
to
do
yet
before
we
can
break
ground
so
they'll
launch
immediately
into
that.
We'll
also
relaunch
our
efforts
with
barclays.
M
Actually,
we
have
been
working
with
barclays,
who
the
city
is
very
familiar
with
they've
done
a
great
job
of
getting
things
set
up,
but
really
can't
take
the
private
financing
to
the
next
level
until
we
get
the
approval
of
the
boards
of
the
public
financing
piece,
but
they've
got
great
relationships
in
the
investment
community,
great
reputation
and
we
look
forward
to
really
moving
forward
with
them
as
soon
as
these
agreements
are
approved.
That,
likewise,
will
take
us
about
four
months,
so
both
of
those
are
lining
up
for
late
july
or
august
groundbreaking.
M
M
A
L
I
thought
you
said
as
shortly
as
you
can
so,
which
made
some
more
sense,
so
we're
talking
about
the
risk.
If
the
project
doesn't
end
up
working
out,
the
city
has
built
a
parking
ramp
did
other
infrastructure.
Can
you
talk
to
me
about
the
risk
of
what
that
looks
like
if
the
project
doesn't
work
out
again?
I
I
totally
hope
it
does
and
expect
that
it
will.
I
just
wonder
what
happens
in
that
situation.
A
J
Mr
mayor
council,
members,
councilmember
nelson,
so
if
the
water
park
starts
construction,
it's
extremely
likely
that
it
will
finish
construction
same
thing
with
the
parking
structure.
You
know
that
goes
along
with
that
same
construction.
It
would
all
be
built
at
the
same
time,
the
same
design,
builder,
etc.
J
If
all
that
gets
built
and
for
some
reason,
the
water
park
fails
the
way
more
likely
scenario,
even
though
it's
hopefully
unlikely
is
that
revenues
are
lower
than
they're
projected
and
there's
a
default
on
the
private
debt,
and
in
that
scenario,
just
like
any
real
estate
project,
the
debt
resets
at
a
lower
number,
the
owner,
sometimes
is
retained,
or
sometimes
they
you
see
a
new
owner
come
in
on
the
project
and
for
an
expensive
project
like
this.
Just
like
what
happened
during
the
pandemic,
it's
very
likely
that
the
project
remains
a
water
park.
J
J
J
L
Thank
you
shane.
I
appreciate
that
I
just
wanted
to
make
sure
that
it
would
still
be
viable
and
usable
mentioned
the
future
hotel.
Is
that
part
of
this
agreement
at
this
time,
or
is
that
a
future
phase
and
second
question
I
have
about
that-
is
wayfinding?
I
know
that
we've
had
some
stuff
with
the
the
way.
J
Mr
mayor
council,
members,
councilmember
carter,
I
think
I'm
going
to
repeat
your
questions.
I
think
there's
two
of
them,
which
is
going
to
tax
me,
but
I'll
try
to
do
it.
The
first
question
is:
is
there
a
hotel
part
of
the
the
deal
tonight
and
the
second
question
was
way
finding
inside
the
parking
ramp?
So
the
answer,
the
first
question
is
no.
The
hotel
is
not
part
of
this
deal
tonight.
It
would
be
considered
as
a
separate
deal.
J
J
Second
question
is
way
finding
inside
the
parking
structure,
so
that
is
included
in
the
in
the
public
improvement
budget.
Currently,
that
said,
the
public
improvement
budget
is
over
budget
right
now,
we've
got
75
million
dollars
as
a
max
sitting
there
now,
which
we
want
to
get
back
down
to
that
number.
But
the
current
cost
estimate
is
over
80.,
and
so
we
need
to
value
engineer
down
to
get
into
that
75
million
dollar
bucket.
It's
a
similar
exercise
that
they're
doing
on
the
water
park
itself.
J
Labor
and
construction
costs
have
just
you
know,
added
about
20
20
percent
to
the
project,
and
this
is
consistent
with
every
project
that
we're
working
on.
I
mean
it's
anywhere
from
five
to
thirty
percent
on
on
any
particular
project.
As
I'm
sure
lots
of
people
are
experiencing-
probably
yourself
because
you're
in
that
industry
and
and
things
like
that,
so
we
have
work
to
do
to
get
down
there,
and
so
it's
currently
in
there.
L
L
L
H
Thank
you
mayor,
in
apologies
that
this
has
been
addressed
elsewhere.
I'm
not
sure
if
I'm
closing
this
right,
but
in
the
very
very,
very
off
chance
something
were
to
happen
on
the
private
financing
side.
Mid
construction
of
this
project,
for
example-
I
don't
know
the
ownership
stake
of
mall
of
america-
were
to
change
further
or
something
like
that
again,
I'm
not
thinking
that's
likely
at
all,
but
considering
the
crazy
times
we've
just
been
through.
Who
knows
what?
H
J
Mr
mayor
council,
members
councilmember
martin,
so
to
restate
the
questions
so
that
I
understand
it,
I
think
the
so
you
get
halfway
through
construction
and
something
something
drastic
happens.
What
what
happens
then?
So,
certainly
if
there's
an
ownership
change
at
the
mall
or
the
next
pandemic
hits
or
something
like
that.
J
J
Have
to
understand
that
that
could
happen,
and
they
do
because
that's
the
way
that
business
is
done
these
days
on
bcs,
the
mall
terratron.
Any
of
these
deals.
You've
got
separate,
llc's,
separate
legal
entities,
separate
legal
things
for
each
and
every
project
and
they
can
be
owned
by
different
people
or
sliced
up
and
owned.
Then
again
by
different
entities,
and
things
like
that,
so
you
can
never
say
never,
you
know
a
really
bad
pandemic
hits
us
in
the
middle
of
construction
that
is
more
severe
than
covet
or
who
knows
what?
J
And
everybody
decides
that
a
water
park
isn't
a
good
deal.
Then
they
could
decide
that
they've
spent
150
and
they
want
to
fish
or
cut
bait
and
not
spend
another
150
to
200
million
dollars.
I
think
it's
really
unlikely,
but
you
can
you
can
never.
You
can
never
say
never,
but
I
think
that's
a
really
low
risk.
In
that
case,
we've
spent
a
bunch
of
money
on
a
parking
ramp.
J
My
sense
is
that
we'd
probably
complete
the
parking
ramp
because
we're
going
to
build
something
out
there,
even
if
it's
just
you
know,
quote
unquote
just
office
or
residential
or
something
like
that,
it's
going
to
need
parking
for
a
while
until
driverless
cars
come
around
and
reduce
our
parking
demand
or
whatever,
but
or
we
could
convert
the
ramp
again,
it's
going
to
be
built
so
that
it
can
be
converted.
So.
M
Mr
mayor
and
for
president
members
and
councilmember
martin
yes,
shayna
chain
is
correct.
There
is
no
financial
relationship
in
the
financing
between
mall
of
america
and
the
financing
of
the
water
park.
If
the
mall
of
america
changed
ownership
entities
in
the
middle
of
the
water
park,
project
that
has
no
relationship
to
the
water
park
and
its
financing,
so
it's
completely
separate
financing
as
if
it's
a
completely
separate
owner,
because
technically
it
is
a
very
completely
separate
owner-
happens
to
be
related
upstream
in
triple
fives
the
entities.
M
M
So
irregardless
of
what
happens,
there
will
be
performance
and
payment
guarantees
put
in
place
by
the
builder
by
ryan
construction
that
guarantees
completion
of
this
project,
and
so
so
the
sureties
have
to
be
in
place
in
order
for
us
to
sell
the
private
financing
in
order
for
us
to
sell
the
bonds
and
it's
really
unrelated
to
mall
of
america.
Obviously,
bond
buyers
that
are
buying
water
park
investments,
the
institutional
buyers
are
looking
to
mall
of
america
to
drive
traffic
to
their
project,
but
it's
truly
their
project,
unrelated
from
a
financing
perspective
to
mall
of
america.
D
I
have
two
questions
really
quickly.
Hopefully
probably
won't
be
so
quick
question
for
mr
hagan,
I
just
as
a
just
as
a
recap
for
for
residents
who
are
maybe
coming
back
to
this
four
years
later
and
and
didn't
know.
Was
there
anything?
Were
there
any
other
projects
that
triple
five
considered
doing
on
this
site
and
what
was
the
decision?
And
how
did
you
come
to
determine
that
the
most
beneficial
choice
was
a
water
park.
M
Mayor
members,
councilmember
d'alessandro,
yes,
as
a
matter
of
fact,
we
have
gone
through
david
lair
and
greg
hollingkamp
can
tell
you
we're
on
master
plan
version,
probably
64
for
the
phase
two
sites
and
shane
has
seen
most
of
them.
We
have
tried
a
lot
of
different
projects.
Most
recently
was
that
we
probably
were
the
furthest
down.
The
road
was
was
a
luxury
development
with
a
luxury
hotel
and
a
luxury
wing,
small
america.
We
simply
couldn't
get
it
financed.
M
That
project
did
not
move
forward,
but-
and
that
was
probably
you
know-
eight
or
nine
years
ago
since
then-
and
actually
even
while
that
was
happening,
our
focus
has
really
been
on.
What
type
of
projects
can
we
do
to
diversify
ourselves
from
retail?
So
when
mall
of
america
was
first
opened,
we
were
about
an
80
20
mix,
80
retail,
20
entertainment
today
we're
about
70
30
as
we
convert
more
retail
space
into
entertainment
and
restaurants.
M
Our
project
in
new
jersey
is
closer
to
50
50,
it's
actually
45
retail
and
55
entertainment,
and
we
love
that
mix
right.
The
more
we
can
diversify
of
retail
I
mean
retail
is
still
extremely
important
to
us,
but
it
has
to
be
a
balance
of
world-class
retail
with
world-class
entertainment
and
projects
like
the
water
park
in
particular.
M
I
think
really
hit
help
us
hit
that
balance
as
it's
got
to
be
a
project
that
drives
tourism
again,
we're
not
looking
to
add
regular
retail
and
right
at
this
point
we're
not
even
looking
to
add
retail.
If
we
did
and
as
it
was
the
luxury
phase,
it
was
really
hitting
a
market
segment,
a
retail
segment
that
we
don't
hit
very
strongly
today
and
it
was
really
geared
at
attracting
luxury
buyers
really
from
across
the
country.
M
That
would
come
here
to
the
midwest
that
today
go
to
the
east
coast
or
the
west
coast
to
do
their
luxury
shopping.
So
it
was
really
still
targeted
to
a
tourist
market
as
the
water
park,
but
certainly
we're
much
more
excited
about
the
water
park
and
what
can
do
in
terms
of
total
visitorship
to
all
of
america
in
terms
of
total
tourism
driven
to
this
market,
I
think
the
water
park
is
is
a
home
run.
M
D
D
J
Certainly,
that's
money,
that's
generated
from
the
project
itself
and
can
only
be
statutorily
used
in
the
industrial
development
district
that
is
south
loop
and
then
further
than
that
it's
tied
up
in
the
development
agreement
that
we
executed
in
2016
with
them
all.
But
even
if
that
development
agreement
didn't
exist,
it
is
statutorily
dedicated
to
phases
of
mall
of
america.
D
Phases
of
mall
of
america,
so
so
we
did
we
don't
what
I'm
trying
to
to.
What
I
explained
to
someone
today,
for
example,
was
that
you
know
this
is
a
private
developer.
Who
has
access
to
these
private?
You
know
development
areas
and
we
don't
really
get
to
tell
them
what
they
can
and
cannot
do
with
the
land.
J
Mr
mayor
council,
members,
council,
member
alessandro,
I
think
it's
fair
that
they
can
do
whatever
they
want
with
the
land.
It's
also
true
that
the
council
and
the
port
authority
in
particular,
because
the
port
authority
controls
the
tiff
that
the
port
authority
gets
to
decide
how
to
invest
the
tiff,
so
if
they
wanted,
if
the
mall
wanted
to
go
and
build
whatever
the
heck
they
want
within
the
zoning
out
there
tomorrow
and
didn't
need
the
tiff
to
do
it.
They
could
they
could
do
that.
J
D
For
that
only
one
other
comment.
Then,
if
you
don't
mind,
I
I
want
to
just
thank
you
to
mr
lair
for
the
the
explicit
sustainability
improvements
that
people
are
considering.
They're,
really
really
important.
There's
some
really
cool.
You
know
etfe
photovoltaic
kind
of
mix.
So
when
you
think
about
solar,
don't
build
your
roof
yet
before
you
think
about
that,
because
there's
some
really
cool
stuff
going
on
in
europe
that
you
could
take
advantage
of
that
would
be
integrated
and
such
you
know,
there's
also.
D
You
know
when
we
think
about
parking
and
stuff
like
that.
I'd
love
for
us
to
be
thinking
about.
Maybe
the
right
thing
to
do,
for
tourists
is
to
do
something
really
cool
in
terms
of
like
driving
them
in
electric
vans
to
and
from
the
msp
airport,
as
opposed
to
requiring
them
to
have
a
rent,
rented
a
car
and
and
and
have
a
parking
space.
You
know,
there's
just
some
really
creative
opportunities
for
us.
I
think
so
you
know
please
keep
doing
what
you're
doing
in
that
regard.
B
Council,
member
alessandra,
I
think,
there's
one
other
point.
I
think
one
of
the
reasons
that
the
mall
is
so
excited
about
doing
this
is
they've
successfully
done
it
for
30
some
years
in
canada
and
and
they've
also
been,
I
think,
very
pleased
with
the
performance
at
the
american
dream.
So
this
isn't
something
that
is
new
to
them.
C
M
B
M
Bloomington
pass
is
really
a
discounted
annual
pass
to
the
water
park,
but
it
comes
with
discounts
on
food
and
beverage
merchandise
birthday
parties
buddy
passes.
It
also
has
access
to
special
previews
early
hours.
So
that's
the
kind
of
package
that
they're
working
on
we
just
haven't
fully
baked
it.
M
I
don't
know
how
this
is
all
going
to
come
together
and
if
it
can't,
because
of
certain
restrictions
or
problems
with
it,
the
discount
will
be
no
less
than
our
current
military
discount
to
our
our
military
members,
which
is
25.
It's
a
very
significant
discount.
So
again
we're
too
early
on.
We
haven't
even
brought
on
the
full
operations
team,
yet
that
will
be
running
this
water
park
to
make
a
definitive
decision
as
what's
best
for
this
bloomington
discount,
but
it
will
be
meaningful.
That's
our
commitment
to
you!
M
That's
that's
in
our
agreement
with
you
is
that
we
will
have
a
meaningful
discount.
We
need
to
talk
about
it
more
just
like
the
sustainability
items,
we're
just
not
that
far
into
it
yet,
but
as
we
do
get
into
it,
we
want
to
have
continued
dialogue
with
the
city
on
what
makes
the
most
sense
and
is
most
meaningful
to
bloomington
residents
and
will
will
be
a
great
discount
for
bloomington
residents.
K
Lohman,
thank
you
mayor
and
now
also
councilmember
de
la
santo,
with
your
your
statements
that
you
made
want
to
just
want
to.
Thank
the
you
know:
the
partnership,
kurt
hagen
and
blair.
I
one
of
the
things
I
observed
is
from
the
from
the
sustainability
commission
meeting
some
of
the
comments
that
were
made
there.
K
I
know
one
of
the
main
concerns
that
was
discussed
at
the
sustainability
commission
and
a
lot
of
other
residents
are
concerned
about
is
that
you
know
water
is
a
scarce
resource
and
I
know
you've
laid
out
some
some
items
there
and
I
wonder
if
you
could.
Just
you
know
talk
a
little
bit
about
the
the
evolution
in
terms
of
of
you
know
where
you
started
off
with
your
first
water
park
to
where
this
would
be.
K
M
Yeah
I'd
be
happy
to
miss
mr
mayor
and
members
and
councilmember
lowman.
You
know,
as
david
lair
said
earlier,
and
you've
heard
me
say
before
we
want
to
set
the
bar
for
water
parks.
Leed
wants
to
work
with
us
to
set
the
bar
for
water
parks.
It
doesn't
exist
today.
You
can't
go
to
the
lead
manual
and
find
a
water
park
category
to
get
certified
they've
committed
to
working
with
us
to
make
that
happen.
That's
very
important
to
us.
We
know
it's
very
important
to
the
city
of
bloomington.
M
M
M
You
would
see
in
a
40
year
old
car
versus
a
new
car
driving
off
the
lot
today,
there's
just
things
that
just
simply
wasn't
even
thought
of
back
then
or
available
to
them
that
are
today
and
it's
changing
very
quickly,
even
from
our
water
park
that
just
opened
a
year
and
a
half
ago
in
new
jersey,
there
are
new
products
and
pumps
and
filters
out
there.
That
is
just
mind-boggling
what
you
can
do
now,
we're
really
excited
about
that
actually,
and
so
I
think
it
comes
down
to
you
know.
M
Our
goal
is
to
really
work
with
you
work
with
the
sustainability,
commission
and
kind
of
there's,
so
many
things
we
can
do
and
we
want
to
work
together
and
saying:
okay,
let's
put
these
in
a
in
in
a
matrix
and
say
these
items
have
this
kind
of
a
carbon
footprint
reduction,
this
kind
of
a
payback
and
we
can
kind
of
work
our
way
down
this
list
at
some
point
it
stops
making
sense
financially,
but
it
still
may
make
sense
from
a
carbon
footprint
standpoint.
We
don't
want
to
make
that
determination
on
our
own
again.
M
I
think
that's
where
we
want
to
sit
with
the
sustainability
commission,
yourselves
being
on
that
commission
and
say
you
know
what
it
would
really
be
great
if
we
included
this
this
and
this,
but
maybe
these
things
aren't
as
important,
because
we
do
still
have
a
limited
budget.
It's
not
unlimited,
but
at
some
point
you
kind
of
hit
that
law
of
diminishing
returns,
and
we
want
to
work
with
you
to
kind
of
find
that
point
david.
Was
there
anything
else?
I
missed
him.
N
Now,
just
a
couple
of
things:
there's
the
current
markets
are
pretty
volatile.
We
all
are
seeing
this
right
now
for
gas
prices
at
the
pump,
but
the
more
we
can
build
in
really
true
long-term
sustainability
features,
it'll
just
benefit
for
the
long-term
operations,
but
it's
going
to
benefit
generations
to
come,
and
that's
a
really
important
part
of
how
can
we
get
the
most
out
of
our
investment
right
now
so
that
it
has
a
redeeming
and
returns
for
a
long
period
of
time?
N
One
one
note:
it's
pretty
common
to
see
solar
panels
to
have
something
between
a
10
to
12
year
payback.
It's
not
done
that
uncommon
to
see
that's
a
pretty
long
time,
but
with
current
energy
prices,
we're
seeing
those
prices
for
the
payback
period
to
be
six
to
eight
years.
So
you
know
those
things
are
really
coming
around,
as
energy
costs
will
continue
to
just
rise
on
it
on
their
own
piece
without
having
other
geopolitical
events
occur.
K
A
A
F
You
good
evening,
mr
mayor
council,
members,
members
of
the
port
authority,
I'm
dan
o'neill
vice
president
of
strategy
and
sales
for
the
bloomington
minnesota
convention
and
visitor
bureau.
Unfortunately,
our
ceo
bonnie
carlson
is
traveling
and
I
know
she's
very
passionate
about
this
project
and
moving
forward
and
has
met
with
you
and
shown
support
from
the
bureau.
F
I
just
wanted
to
highlight
a
couple
prepared
notes.
You
should
have
received
a
memo
from
the
convention
and
visitor
bureau
that
outlined
our
support
from
bonnie
and
in
the
december
meeting,
bonnie
did
talk
to
you
about
the
brand
sentiment
study
that
we
commissioned
with
mmgy
global
as
we
researched
past
and
prospective
visitors
on
the
quality
of
bloomington
attractions
and
how
water
parks
are
high
on
the
visitors
list.
F
We
actually
ask
questions
to
past
bloomington
visitors
and
prospective
bloomington
visitors
about
an
indoor
water
park
and
having
it
be,
the
largest
in
the
u.s
collection
of
pools
and
water
slides
and
what
we
found
in
that
study
and-
and
she
mentioned
that
in
december.
But
it
was
really
that
it
scored
very
high
in
influential
prospective
visitors,
and
it
was
the
second
most
influential
element
on
a
pers
for
for
travel.
F
So
these
are
great
indicators
that
this
water
park
is
going
to
be
successful
and
continue
to
be
a
producer
of
room
nights,
as
kirk
mentioned,
and
showed
the
slide
on
the
mega
events
boy.
We
missed
those
days
when
we
were
hosting
the
ryder
cup
and
the
super
bowl
and
the
men's
final
four,
and
I
think
when,
when
I've
been,
you
know
with
the
bureau
for
over
14
years
now
those
were
the
most
exciting
times
for
the
hospitality
community.
F
So
we
really
feel
it
will
be
beneficial.
Bloomington
is
a
family
oriented
welcoming
and
safe
place,
and
I
just
wanted
to
thank
you
for
your
leadership
and
continuing
to
make
bloomington
a
competitive
destination
in
travel
and
tourism
and
really
a
leader
in
the
nation.
So
thank
you
we're
very
anxious
for
the
project
and
please
let
us
know
if
you
have
any
questions.
D
F
Thank
you
councilmember.
You
know,
I
think,
with
this
brand
sentiment
study,
we
were
looking
more
into
the
quality
of
current
blooming
attractions
and
we
didn't
do
a
summary
versus
wisconsin
dells,
particularly
what
we
do
know
about
wisconsin
dells
is
they
have
over
20
different
water
parks,
so
it's
a
very
different
as
far
as
a
destination
cell
compared
to
what
what
we
do.
A
Very
good
council
officially,
the
next
step
here
is
officially
a
public
hearing,
and
this
is
a
city
council,
public
hearing,
and
it
would
be
a
public
hearing
on
the
55
million
dollar
tax,
increment,
authored
and
authorized
in
the
spending
plan
to
provide
improvements,
loans,
interest
rate
subsidies
or
assistance
in
any
form
to
private
development
and
specifically
to
finance
a
portion
of
the
cost
of
the
construction
and
development
of
an
indoor
water
park.
That
is
what
our
public
hearing
is
on
and
I
will
open
our
public
hearing
now.
A
A
Also,
I
see
no
one
coming
forward
and
there's
no
one
on
the
phone
line
wishing
to
speak
in
our
public
hearing.
I
would
look
for
a
motion
to
close
tonight's
public
hearing,
so
moved
councilmember
logan.
Second,
we've
got
a
motion
by
council
member
lowman
seconded
by
councilmember
d'alessandro
to
close
the
public
hearing
on
tonight's
issue.
Hearing
no
further
counsel
discussion
on
this
carolyn.
A
Motion
carries
7-0,
closing
the
public
hearing
so
now
we're
in
the
point
of
the
of
the
evening
of
discussion.
So
I
know
we've
been
asking
questions
as
we've
gone
along
here,
but
I
would
like
to
hear
from
obviously
the
the
city
council
and-
and
I
know
the
president
would
like
to
hear
from
the
port
authority
as
well
thoughts
on
this
on
on
all
parts
of
this,
the
redevelopment
agreement,
the
purchase
and
option
agreement,
the
tif
loan
agreement
and,
ultimately
the
spending
plan.
Mr
mayor,
let
me
release
the
operator
very
good.
A
C
G
Are
we've
been
living
in
this
conversation
in
this
world
for
some
of
us
decades,
but
there
are
residents
watching
tonight
who
may
not
really
understand
how
tiff
works,
and
so
I
know
that
it
can
get
kind
of
complicated,
but
I'm
wondering
if
you
could
just
give
like
a
tiff
101,
so
that
people
who
are
listening
tonight
kind
of
understand
the
basics
of
tiff
and
what
we're
doing
since
it
is
a
different
way
of
financing
versus
like
a
bond
or
any
other
way.
So
thank
you.
J
Mr
rothing,
thank
you,
mr
mayor
council,
members,
councilman
carter.
I'll
do
my
best,
so
the
the
because
tiff
is
somewhat
complicated,
but
I
think
some
important
tenets
to
note
are
that
the
tiff
tax
increment
financing
is
a
word.
That's
used
to
describe
the
property
taxes
or
a
portion
of
the
property
taxes
that
are
generated
by
a
project
for
use
in
that
project,
and
so
there
is
a
but
four
test.
J
J
The
port
authority
is
in
a
unique
position
that
we
have
actual
cash
balances
to
reinvest
into
mall
projects.
All
the
all
the
mall
projects,
radisson
blue
phase,
1c
on
the
north
side,
ikea,
etc,
have
been
done
without
having
to
take
on
additional
debt,
and
that's
because
the
project
has
generated
sufficient
funds
to
do
so
and
and
again
you're
in
that
position.
J
But
tiff
is
the
property
taxes
that's
generated
or
a
portion
of
the
property
taxes
generated
by
the
project
for
use
on
the
project
itself.
That's
really
what
it
is
and
property
taxes
in
minnesota
are
incredibly
complicated
and
commercial
taxes
are
different
than
residential
taxes
and
how
tiff
is
generated
by
the
project
and
then
recycled
for
use
on
on
that
same
project
is,
is
really
what
tiff
is
using.
The
property
tax
is
generated
by
the
project
for
the
project
that.
C
I
Unmute,
thank
you,
chairman
erickson.
I
would
ask
if
the
port
would
bear
with
me
a
little
bit.
I
got
cut
off
at
the
last
meeting
december
9th
and
wasn't
able
to
really
explain
my
thought,
process
and
votes
on
this,
so
this
might
get
a
little
lengthy
and
I
would
ask
your
your
patience
on
it,
but
this
is.
This
is
kind
of
my
view
on
this,
and
you
know
I
I'm
a
I'm
a
I'm
a
dirt
bricks
and
mortar
guy.
I
I've
been
my
whole
life
real
estate,
and
that's
that's
what
I
know.
That's
what
I've
done
and
I'm
gonna
reiterate
right
right
from
the
start,
with
saying
that
I
have
very
high
regard
for
the
mall
of
america,
company
t5:
it's
real
estate
developers,
owners
managers,
leasing,
professionals
and
innovators.
I
They
absolutely
amaze
me
at
times
with
what
they
what
they
do,
what
they
can
do
and
what
they've
done
and
they're
developers
and
they
have
their
development
model
and
developers
have
to
develop
the
developer.
The
developer
who's
taken
a
photo,
the
developers
their
model
is
to
build
a
mega
mall
which
they've
been
very
successful
at
they
can
do
office
buildings
lodging
and
they
do
water
parks,
and
now
it's
blooming
bloomington's
turn
to
get
the
water
park
and
propose
it
and
hopefully
it'll
work
out,
like
the
other
ones.
I
Have
I
in
my
heart
believe
we're
different
we're
different
because
we
have
11
842
lakes
with
water
amenities
all
over
the
place.
If
you
don't
have
a
cabin,
your
brother,
your
sister,
your
neighbor
down
the
block
does,
and
they
invite
you
there.
That
includes
boating
fishing
jet
skiing,
all
those
other
things,
rave,
slides
all
the
things
that
go
with
water
go
with
water
recreation
and
by
definition,
when
a
property
requires
tiff,
it's
not
feasible
in
the
market.
Sense!
That's
why
the
tif
is
needed.
I
To
me,
the
water
park
also
does
not
meet
what
the
goals
are
for
the
south
loop,
which
were
stated
earlier
on
one
of
shane's,
exhibits
it's
to
transform
the
south
suburban
to
urban.
Okay,
I've
never
seen
a
ginormous
water
park,
so
you
know
I
can't
react
to
how
they
operate,
what
they
look
like
on
the
hook
in
real
estate.
The
first
thing
you
do
and
the
easiest
thing
you
do
is
you
go
look
at
the
property.
I
I
haven't
had
the
opportunity
to
do
this,
okay,
but
what
it
is
when
it's
done
is
a
land
intensive,
horizontal,
highly
special
purpose
use
property
with
very,
very
few
re-adaptive
uses.
If,
if,
unfortunately,
we're
going
to
fail
or
not
succeed-
and
I
don't
know
how
that
fits
into
the
guideline
of
transforming
south
from
suburban
urban
to
me-
that's
another
suburban
use.
So
I
with
full
knowledge
of
all
the
implications
here,
including
the
expo
and
everything
else.
I'm
fully
aware
of
those.
I
I
thought
my
new
council
person
d'alessandro
brought
up
a
good
question
on
the
on
wisconsin
dells,
so
I
did
a
little
research
there
too.
That's
the
largest
agglomeration
of
water
parks
in
the
world.
It's
220
miles
three
hours
and
12
minutes
from
bloomington.
It's
a
water
capital
of
the
world.
They
have
8
000
hotel
rooms
right
up
there
with
bloomington
size.
I
So
I
think
those
are
facts
and
top
of
that
of
all
minnesota's
lakes
wisconsin
dells
being
near,
and
the
fact
that
so
many
communities
have
large
water
recreation
facilities
and
oh
by
wisconsin.
Dells
also
has
a
number
of
indoor
facilities
they're,
not
all
outdoors,
okay.
So
that's
another
thing
to
think
about,
but
you
know
I
just
it
doesn't
meet
the
goal
for
me
and
that's
pretty
much
where
I'm
coming
from.
I
I
C
A
B
C
It's
a
project,
I
love
dearly,
but
I'm
not
I'm
also
a
very
conservative
banker
at
heart,
I'm
I
I
would
very
much
love
to
support
the
idea.
I
still
can't
get
my
arms
around
the
water
park,
I'm
hoping
I'm
wrong
in
the
long
run,
but
I
appreciate
hearing
the
number
of
different.
I
like
the
change
into
the
private
funding,
but
that
said
again,
tiff
funding
is
kind
of
an
abnormal
use
for
for
that,
but
I
I
I
they're
still
concerned
about
the
success
of
the
project
as
a
whole.
I'm
hoping
I'm
wrong.
C
I
like
the
different
mitigating
factors
that
have
gone
into
this
at
the
end
of
the
day.
When
I
look
at
a
loan,
too,
is
how
do
I
get
repaid
and
what's
the
next
best
use,
and
that
continues
to
be
to
me-
a
water
park,
a
special
purpose
property,
as,
as
mr
lunz
also
said,
we're
kind
of
in
the
same
mind
from
that
standpoint.
But
that's
the
big
concern.
B
G
G
The
other
things
that
I
want
to
kind
of
mention,
as
I
think
about
this
project,
is
I'm
really
really
excited
that
it's
family
friendly.
You
know
just
coming
back
from
the
expo.
I
was
blown
away
by
how
many
families
were
there,
how
many
little
kids
and
to
give
residents
the
opportunity
and
others
across
the
region
to
go
somewhere
year-round
where
they
can
be
active,
they
can
be
having
fun
and
then
they
can
go
over
the
mall
and
do
the
same.
G
I
think
it's
a
really
great
opportunity
for
our
residents
and
for
people
around
the
region
and
even
the
world.
You
know
and-
and
I
I
totally
hear
commissioner
lonza's
point
around
you
know-
people
have
access
to
lakes
in
minnesota,
but
for
nine
months
of
the
year
out
of
the
year
they
don't
and
and
for
a
family
like
mine,
I
can
tell
you
and
I've
talked
to
other
families
asking
them
about
this.
Waterpark
project
and
people
are
excited
about.
It.
G
They're
excited
to
have
a
warm
place
to
go
in
the
winter
with
their
kids
and
that's
why
I've
pushed
so
hard
on
the
bloomington
resident
discount
too,
because
I
want
to
make
sure
that
our
residents
can
can
go
to
this
water
park.
I
will
say
one
two
ideas:
if
it
doesn't
work
out,
you
could
turn
it
into
like
a
big
year-round,
farm
or
aquaponics
facility
and
then
from
an
equity
perspective,
just
an
idea.
G
You
could
like
partner
with
the
ymca
and
do
like
once
a
month
free
swimming
lessons
for
low-income
residents
or
people
in
the
region
and
then
give
them
like
a
free
day
pass.
So
just
some
ideas
there,
my
brain's
already
going
so
I'm
very,
very
excited
about
this
project.
Again
really
really
appreciate
staff
and
the
t5
team,
all
the
work
that
you've
done
to
mitigate
risk,
the
sustainability
issues
and
then,
of
course,
the
accessibility
and
the
affordability
for
bloomington
residents.
G
A
I
I'm
not
exactly
sure
where
I
was
lost.
All
of
a
sudden
I
looked
up
and
everybody's
shining
face
was
was
gone
and
I
knew
I
was
talking
in
a
vacuum,
so
maybe
a
little
help
there.
One
thing
I
did
want
to
say
is:
I
was
a
little
bit
surprised,
seeing
the
performers
going
forward
or
stronger
than
they
were
a
couple
years
ago.
I
don't.
First
of
all,
I
don't
know
how
anyone
I
I
read
the
first
performance
that
came
out
extensively.
I
I
thought
they
were
optimistic
with
seven
percent
annual
income
growth
for
the
first
years,
five
percent
annual
expenses-
so
there's
a
margin
there.
I
don't
know
how
you
you
really
go
about
putting
a
feasibility
study
together
nowadays
on
such
a
special
purpose
property
within
months
of
the
first
pandemic
in
100
years.
So
I
I'm
a
little
a
little
just
surprised
by
that,
and
I
don't.
I
I
really
am
dubious
as
to
how
much
faith
I'd
want
to
want
to
put
in
that,
but
we're
talking
about
100
110
million
whatever
to
go
into
this,
and
is
this
really
ice
and
misuse
it's
a
feasible
use
with
tiff?
Is
it
the
optimum
use,
which
is
what
you
really
do
in
in
developing
property
and
in
creating
the
best
real
estate?
You
can
so
I
I
guess
I'll
wind
up
there.
I,
like
I
said
I
I
don't
know
where
I
was
cut
off.
Thank
you
for
your
time.
K
K
I
think
the
case
has
been
made
here
tonight
for
for
various
reasons,
and
I
look
forward
to
supporting
this
particular
proposal.
That's
before
us,
I
can
only
imagine
all
those
young,
kids
and
and
families
who
will
have
the
opportunity
to
be
able
to
to
enjoy
and
recreate
in
this
in
this
particular
facility,
and
it's
also
going
to
be
a
statement
about
where
bloomington
kind
of
stands
on
sustainability
and
how
we
can
work
as
a
partnership
across
industry
to
be
able
to
move
this
particular
issue
forward.
K
And
so
I
am
very
excited
at
that
prospect
and
that
opportunity
to
be
working
with
a
number
of
other
leaders
here
to
be
able
to
do
that.
It's
important
to
have
that
those
partnerships
not
only
as
it
relates
to
that,
but
also
around
labor,
and
so
I'm
looking
forward
to
those
partnerships
as
we
continue
to
to
march
forward.
I
I
really
truly
believe
that
our
days
that
are
ahead
of
us
are
very
exciting
and
I'm
looking
forward
to
that
opportunity
to
be
able
to
support
this
particular
project
as
written.
Thank
you.
F
You
mayor
well
a
number
of
the
points
that
I
I
had
planned
to
make.
It
have
already
been
made,
and
I
I
want
to
echo
council
member
low
and
I
think,
council
member
carter
hit.
Excuse
me
hit
those
points
very
well,
and
I
I
certainly
you
know
when
I
was
running
last
year
heard
many
of
the
same
concerns
many
of
the
same
questions,
and
I
I
would
say
you
know,
on
the
whole,
I
think
those
questions
those
concerns
have
been
addressed
to
to
my
satisfaction.
F
I
want
to
particularly
call
out
with
regards
to
the
questions
that
I
asked
earlier
about,
using
solely
mall
of
america,
tiff
and
and
not
the
south
loop
development
fund
and
making
that
whole.
I
think
that's
a
much
better
approach,
both
in
terms
of
respecting
taxpayers
and
and
also
just
the
nature
of
what
those
dollars
are
used
for.
F
F
We
know
what
the
mall
of
america
means
to
our
city
operations
and
and,
by
extension,
the
pocketbooks
of
folks
who
live
in
and
own
businesses
here
in
bloomington,
and
I
think
this
project
will
help
to
maintain
that
I
I
think
this
is
also
a
key
piece
to
other
projects
down
the
line,
as
we
we've
discussed
that
have
a
lot
of
potential
for
for
really
exciting
opportunities,
really
exciting
growth
in
the
south
loop.
I
think
you
know
the
points
that
that
commissioners
luns
and
and
hunt
made.
You
know
they.
F
They
are
professionals,
they
know
what
they're
talking
about,
and
I
I
can't
say
those
are
not
still
concerns
of
mine,
so
it
is
not
without
reservations
that
I'm
supporting
this.
I
would
like
to
see
some
effort
yet
to
address
the
concerns
that
I
have
raised,
but
I
I
think
what
it
comes
down
to
for
me
was
a
point
that
commissioner
peterson
made
at
a
previous
meeting
that
you
know
it's
it's
not
as
though
the
choice
is
this
or
some
ideal
use,
or
this
or
nothing
it's
it's
this
or
whatever
comes
next.
F
H
That
was
really
singular
in
the
metro
area
and
the
mall
owners
were
really
visionaries
in
that
regard,
and-
and
you
know,
with
the
combination,
the
pandemic
and
the
change
in
how
retail
works.
That
combination
still
makes
a
lot
of
sense.
It's
just
the
ratio
of
of
uses
is
going
to
be
different
in
the
future
than
it
has
been
now
and
kurt
talked
about
that
a
little
bit
in
the
conversation
here,
and
so
whenever
you
have
something.
That's
that's
entertainment,
driven
like
this.
H
To
a
certain
extent,
you
need
to
kind
of
keep
renewing
what
you
have
going
on
there
and
that's
really
what's
happening
as
part
of
this
project.
Is
that
we're
getting
a
major
new
attraction?
That's
located
at
that
location
for
many
people,
it'll
be
a
reason
to
stay
another
day
or
two
in
that
particular
location
beyond
where
they
might
be
staying
for
being
in
the
in
the
going
to
the
theme
park,
for
example,
and
so
this
is,
this
is
for
entertainment,
oriented
districts.
H
This
is
a
common
progression
that
occurs
and
we
just
have
to
look
a
little
bit
to
the
south,
for
example
at
valley,
fair
at
some
of
the
entertainment
uses
in
shakopee,
where
there's
you
see
on
a
regular
basis,
conversations
going
on
around
expansions
of
those
sorts
of
uses.
You
know
if
I
remember
right,
there's
an
amphitheater
proposal,
that's
being
discussed
at
the
canterbury
location,
that's
a
change
in
use
to
freshen
an
area
up,
make
make
a
new
use
there,
and
this
this
sort
of
project
is
that
same
sort
of
project.
H
You
know
it
is
the
project
structured
exactly
the
way,
I
would
do
it
if
it
was
if
I
had
complete
control
kind
of
like
councilmember
coulter.
My
the
answer
to
that
is
no,
but
it
does.
This
project
meet
my
personal
bar
for
a
project
that
that
should
go
forward.
The
answer
is
yes,
and
so
I
intend
to
support
it
today.
D
Thank
you
mayor.
I
want
to
thank
you
all
for
bearing
with
me,
as
I
came
up
to
speed
on
on
this
project
and
and,
as
mentioned
earlier,
take
advantage
of
a
lot
of
hard
work
by
other
people,
including
my
predecessor,
so
I
I
appreciate
that
very
much
and
so
take
my
comments
for
what
they're
worth,
which
is
a
brand
new
set
of
eyes,
put
on
a
project
that
you
all
have
been
burying
with
for
quite
some
time.
D
I
you
know,
I
don't
have
kids
and
I
I
will
not
ever
be
in
public
in
a
bathing
suit,
so
you
know
so
I'm
not
necessarily
the
demographic
you're
going
for
here,
but
so
I
can't
think
of
my
own
personal
circumstances
in
the
way
that
you
know
some
of
our
council
members
with
young
kids
can
about
how
their
life
experience
will
be
with
this.
So
I
I
take
that
into
consideration
as
as
a
data
point
for
myself,
because
I
don't
have
that
experience
right.
D
D
You
know,
I
I
think
I
think
about
expo
and
it
coming
to
this
area
and
I'm
curious
about
what
the
millions
of
visitors
to
that
will
think
about
us
having
just
finished
a
water
park
in
2020,
for
I
don't
know
what
they're
going
to
say,
whether
that's
an
achievement
and
they're
excited
about
it
or
whether
it's
another
example
of
america.
Just
you
know,
consuming
resources
at
a
rate
that's
higher
than
our
are
what
we
should
be
considering
the
amount
of
population
we
you
know
represent.
D
I
I
don't
know
it'll
be
really
interesting
to
see.
I
would
I
say
that
as
something
that
I
think
we
should
keep
in
mind
and
something
that
we
actually
have
the
opportunity
right
to
demonstrate
that
you
can
dream
big
and
have
big
bold
ideas
and
do
new
cool
things
and,
and
they
don't
always
have
to
come
at
the
expense
of
exploitation
of
our
natural
resources
or
for
that
matter,
are
human
resources
right.
D
So
you
know,
as
we
think
about
this,
we
we
want
to
make
sure
that
the
that
the
things
we
actually
design
into
this
over
the
coming
summer,
you
know
reflect
the
vision.
We
want
the
world
to
see
three
years
later,
when
they
come
to
expo.
I
think
it
isn't
going
to
hurt
us.
If
we
do
that,
and
then
they
don't
come,
it
isn't
going
to
be
a
bad
thing
right,
so
you
know
I'd
I'd
put
that
out
there.
D
The
other
thing,
of
course,
that
I
want
to
mention,
is
you
know
we
talk
a
lot
about
the
the
economics
of
of
of
the
mall
of
america
and
how
it
has
truly
an
impact
on
bloomington
has
a
whole.
I
you
know
when
I
hear
a
people,
they
wonder
why
the
rest
of
the
city
doesn't
look
like.
That
is
true,
and
so
I
I
want
to
put
out
there
that
you
know
whether
it's
this
is
mostly
for
the
council's
reflection.
D
What
do
we
need
to
do
to
make
sure
that
people
know
that
when
we,
when
we
continue
to
develop
in
this
area
and
and
not
all
of
the
money
flows
into
this,
the
rest
of
bloomington
but
the
stuff
that
does
the
stuff?
That
was
on
that
great
chart
that
mr
hagan
presented
earlier,
that
they
can
see
the
impact
of
that
in
their
city,
and-
and
I
know
that
we
probably
hide
it
a
little
bit
because
we're
using
it
for
all
the
ground
level.
D
Stuff,
that's
important
around
the
city,
but
you
know,
maybe
maybe
we
do
a
different.
Maybe
we
do
that
differently
in
the
future,
so
people
can
really
understand
that
right.
So
those
are
my
musings,
I'm
very
I'm
very
with
a
lot
of
humility,
like
I
said
in
a
lot
of
deference,
the
people
come
before
I'll
I'll
be
supporting
this,
and
I
hope
that
I
hope
that
we
can
I'll
look
at
this.
D
D
The
support
of
the
business
community
in
the
region
is
very
strong
for
this
project.
They
see
a
real
value
in
it.
There's
a
couple
of
great
jokes
about
it.
In
fact,
the
dave
letterman
top
ten
list
in
in
the
spirit
of
the
late
night
show
you
know
theme
for
the
event
was
the
top
10
reasons
to
build
the
water
park
in
bloomington
so
and
bring
expo
to
bloomington.
Actually,
so
it
was
really
fun
and
you
know
so.
D
A
I
think
we
are
as
well.
I've
got
to
apologize
folks,
we're
not
seeing
hands
going
up
if
you've
got
if
you're
pushing
the
hands
going
up.
It's
not
coming
through
on
our
our
screens
right
here
and
I
apologize
for
that.
So
so
again
don't
be
shy.
So
council,
member
martin
and
then
council,
member
nelson,
so
councilman
martin.
H
Thank
you.
I
appreciate
that
just
a
real
real
briefly,
I
won't
go
over
everything.
Folks
have
said.
I
am
extremely
glad
throughout
my
time
on
council,
it's
obviously
mall
of
america
and
the
hospitality
industry.
It
helps
to
support,
have
been
a
huge
economic
driver,
a
lot
of
a
lot
of
the
programs
and
initiatives.
I've
been
most
excited
about
that
we've
accomplished
fueling
a
lot
of
our
affordable
housing
efforts,
a
lot
more
public
health
services,
keeping
property
taxes
low
for
folks
on
fixed
incomes.
H
Well,
that's!
Well,
that's
really!
Terrific!
It's
having
a
corrosive
effect
on
the
community,
because
we
can
move
mountains
to
get
a
project
like
this
done.
We
can
come
up
with
100
some
odd
million
dollars
in
tip
financing
to
help
make
it
happen
for
good
reason
again
for
those
reasons
I
just
outlined,
but
then
we
have
to
turn
around
and
ask
residents
for
a
half
cent
sales
tax
increase
for
mission,
critical
facilities
like
public
health
and
a
community
center,
the
ice
garden.
H
I
still
don't
know
if
a
ticket's
going
to
be
in
the
budget
for
a
lot
of
families,
with
multiple
kids
in
over
the
the
longer
term
really
starting
to
look
at
at
what
point
is
this
neighborhood
developed
to
the
point
where
we
can
advocate
for
removing
some
of
this
geofencing
and
I'm
sure
those
would
be
complicated
conversations
to
try
and
spread
some
of
that
jump-starting
wealth
a
little
more
clearly
and
in
a
little
more
straightforward
way
across
the
city?
So
I'm
I'm
happy
to
support
this
today.
L
Yeah,
thank
you
mayor.
I'm
going
to
be
very
brief,
hopefully
because
I'm
sure
you
probably
can
barely
hear
me.
I
support
this
project
and
I've
been
very
apprehensive
about
it,
but
when
it
comes
to
what's
the
best
use
of
a
property,
I
think
the
property
owners
have
come
forward
with
that.
The
question,
in
my
mind,
is
the
city
involvement
on
it
and
providing
infrastructure,
and
things
like
that
makes
sense
to
me.
The
equity
portion
has
been
always
problematic
for
me,
but
I
recognize
that
the
state
legislature
has
provided
that
funding.
L
I
think
the
numbers
show
that
it
does,
but
I
think
that
when
we
look
beyond
that,
when
we
have
groups
coming
for
fireman's
tournament
or
we
have
groups
coming
for
to
go
to
a
hockey
tournament
at
big,
where
else
would
you
want
to
go
in
the
winter
but
bloomington
where
we
have
an
indoor
water
park?
An
indoor
theme
park
shopping
restaurants,
all
of
that
type
of
stuff.
L
This
is
a
huge
community
development
project
that
has
tentacles
way
beyond
just
the
project
in
and
of
itself,
and
that's
what
I'm
excited
about,
and
I
want
to
see
how
we
can
continue
to
leverage
that
beyond
just
what
we're
looking
at
here.
I
also
want
to
echo
council
member
martin's
point
about
the
geofence
funds
and
how
we
might
look
at
that
throughout
the
community.
I
want
to
echo
my
colleagues
questions
about
how
we
utilize
this
to
benefit
the
the
entire
community,
and
so
again
I
said
I'd
be
short.
L
I
hope
you
heard
what
I
said
and
I
really
appreciate
this
and
I
really
appreciate
triple
fives
work
on
this.
I
know
I
have
been
very
critical
at
certain
points
in
this
process
and
I
think
we're
at
a
good
spot
here
to
move
this
forward
and,
like
I
said
earlier,
I'm
looking
forward
to
getting
my
swimsuit
out
and
going
swimming
at
some
point
here.
So.
A
L
A
A
I
think
it's
it's
an
important
conversation
for
us
to
have
I
to
look
at
it
from
a
community
development,
an
economic
development
standpoint
from
a
standpoint
of
how
it's
going
to
benefit
all
of
our
communities,
to
look
at
the
the
big
flashiness
as
councilmember
martin
brought
up
from
a
labor
perspective
as
council
member
colter,
I
mean
there's
a
lot
of
there's
a
lot
of
pieces
to
this,
and
I
appreciate
the
discussion
that
we've
had.
Commissioner
lunz,
commissioner
hunt
the
the
perspectives
that
you
bring.
I
appreciate
that
as
well,
without
repeating
other
folks
comments.
A
I
have
said
before,
and
I
still
believe
I
there
is
no
doubt
in
my
mind
this
is
going
to
be
a
roaring
success.
I
I
really
believe
that
is
going
to
be
the
case
and
I
think
that's
important
to
to
say-
and
I
think
that's
important-
to
hope
for
for
the
for
the
future
of
the
mall
of
america
and
ultimately
for
the
future
of
bloomington,
because
of
the
economic
impact
that
the
mall
does
have,
and
the
tax
base
implication
that
the
mall
has
without
repeating
everybody
else.
A
This
is
this
is
an
opportunity
I
think,
for
bloomington
to
lead
in
a
lot
of
ways
of
of
moving
the
organ,
the
the
twin
cities
forward
and
to
try
and
continue
to
draw
important
hospitality
and
tourism.
Events
like
we
have
seen,
and
we
have
seen
being
used
so
successfully.
We
referenced
a
few
earlier
with
the
super
bowl
and
ryder
cup
and
so
on
and
so
to
to
see
bloomington
moving
forward
with
this
to
see
triple
five
moving
forward
and
acknowledging
not
only
from
their
business
standpoint
but
from
a
from
a
a
sustainability
standpoint.
A
I
think
this
is
just
very
impressive
for
a
city
of
90
000
to
be
to
be
bringing
the
to
bringing
this
much
oomph
to
what
the
the
twin
cities
needs
to
continue
to
move
forward
and
to
move
forward
out
of
this
pandemic.
So
thank
you
all
for
your
perspective,
thanks
to
our
legal
staff
over
the
past
13
years,
my
goodness
or
the
13
meetings,
four
years
13
meetings
on
all
of
this,
mr
hagen.
A
J
J
A
A
C
C
B
H
G
B
B
I
M
J
J
Okay,
so
tonight
what
we
have
is
a
project
that
you've
heard
before
it's
in
a
similar
state
a
little
bit
further
along
actually
than
the
waterpark
project
that
we
just
considered,
and
so
this
is
the
bcs
residential
phase
4,
which
is
the
next
project
that
would
include
the
grocery
store.
So
the
council
and
port
authority
approved
a
term
sheet
on
may
4
of
2021
related
to
this
project.
J
J
So
we'll
go
through
that,
but
again
self-loop
plan
goals.
The
bcs
master
plan
we've
seen
a
number
of
projects
to
date.
Those
are
listed
there
and
won't
go
into
the
details.
The
master
plan
has
the
most
recent
project.
The
finley
just
north
of
the
light
rail
and
east
of
the
park
is
leasing
up
and
leasing
up
well
and
then
the
phase
four
of
the
residential,
which
doesn't
have
a
fancy
name
yet
would
be
built
west
of
the
park.
J
J
We
have
to
go
back
to
the
legislature
and
and
ask
for
a
change
again.
We've
been
there
many
times
now
with
bcs
asking
for
that
change
and
and
have
been
successful
with
extensions.
They
don't
change
the
life
of
the
district
or
anything
like
that.
It
just
tweaks
one
of
the
diff
rules,
but
again
zooming
in
a
little
bit
further
the
project
west
of
the
park
again
similar
type
of
construction.
They
call
these
texas
keys.
J
I
think
where
you
basically
have
wings
of
the
project
extending
out
from
a
central
spot
where
the
parking
is
laid
out
and
on
this
project.
The
grocery
store
would
be
on
the
north
east
corner
of
it
zooming.
In
a
little
more.
You
can
see
it
there.
It
does
have
grocery
and
liquor.
It's
14
500
square
feet,
which
is
you
know,
a
medium
to
small
size,
grocery
store.
But
it's
been
a
long
time
goal
of
these
boards
to
to
get
that.
J
J
Again,
with
grocery
as
the
key
component,
so
facts
and
figures,
if
you
will
6
402
units,
grocery
14
500
square
feet,
would
be,
it
would
comply
with
the
city's
opportunity.
Housing
ordinance
on
36
units
at
60,
ami
total
project
cost
125
million
the
public
investment
of
present
value
coming
only
from
tiff
from
bcs,
with
about
half
of
it
from
to
from
the
project
and
half
of
it
from
the
larger
bcs
project
itself,
but
no
other
funding,
22.9
million
in
present
value,
we've
performed
the
needs,
analysis
and
negotiated
the
recapture
agreement.
J
The
only
maybe
unique
piece
of
this
project
is
the
recapture
agreement,
as
it
relates
to
the
grocery
store
and
we'll
go
through
that
here
in
a
minute,
but
the
needs
analysis.
The
project
does
need
the
subsidy
in
order
to
move
forward.
Based
on
these
four
things.
These
are
in
the
council
materials.
The
affordable
units
are
much
more
expensive,
expensive
to
provide
versus
the
cities.
The
other
option
a
developer
could
choose
which
is
the
fee
in
lieu.
J
J
So
that's
a
challenge.
Construction
cost
we've
talked
about
acoustical
considerations
in
salt
loop
certainly
exist
and
they
increase
cost
on
the
project,
mostly
due
to
plane,
noise
and
then
public
infrastructure,
so
there's
a
number
of
roads
next
to
this
project
that
don't
exist
today
and
in
a
lot
of
these
other
projects,
you
have
the
roads
already,
and
so
that
adds
to
the
financial
need
for
the
project
and
then
certainly
the
grocery
is
by
far
the
biggest
component.
J
B
J
Then
there's
the
sustainability
component,
among
others-
that's
included
with
this
project
again
for
almost
every
project
that
the
port
has
invested
in
in
a
long
time.
We
want
to
make
sure
that
we're
doing
things
with
the
parking
as
sustainably
as
possible
and
so
again
on
this
project,
it's
constructed
so
that
levels
of
the
parking
can
be
removed.
The
parking
demand
goes
down
and
units
would
be
built
on
top.
This
is
very
similar
to
what
we
worked
on
with
the
friendly
project.
J
J
The
assistance
is
provided
via
paygo
note,
so
the
risk
of
the
tif
stream
not
happening
is
borne
by
the
developer.
There's
no
outside
money
going
into
the
project,
and
only
do
we
pay
on
the
tif
pego
note
if
the
tif
exists,
so
it's
an
extremely
low
risk
investment
from
the
city's
perspective.
The
risk
is
all
born
by
the
by
the
developer.
J
J
We
acknowledge
that
the
purpose
of
the
project
is
to
basically
solve
the
food
desert
or
lack
of
a
grocery
store
there,
and
because
of
that
and
other
business
subsidy
law
factors
we
canceled
that
public
hearing,
so
there
was
originally
public
hearing
scheduled,
but
I
wanted
to
to
note
that
there
is
no
public
hearing
tonight
and
we
canceled
it
within
the
parameters
of
when
we
can
do
that,
and
so
just
in
case
there
was
any
questions
or
confusion.
Confusion
related
to
that.
J
If
and
when
that
tran
transient,
lodging
limitation
were
were
opened
up
by
either
the
city
or
the
state,
so
they
can
still
have
some,
but
they
won't
be
predominantly
hotels.
The
goal
of
the
south
district
plan
is
to
create
a
neighborhood
here
and
yes
at
hotels,
but
we
want
to
do
that
intentionally
with
the
other
hotel
projects
that
that
are
being
built.
J
And
then
we
have
the
paygo
note
itself
and
again
we
would
issue
that
note
upon
financial
closing.
It's
got
various
components
of
of
that
similar
to
other
projects
that
bcs
and
others
that
we've
done
with
the
interest
rate,
which
is
a
way
to
that.
The
note
gets
monetized
with
the
financing
entities
and
again,
the
big
piece
here
is
the
risk
of
the
tif
stream
is,
is
held
by
the
developer
and
not
the
city
and
again,
the
recapture
agreements
which
I
spoke
of
before
again,
the
grocery
recapture
is
fairly
complicated.
J
And
then,
in
good
years
those
buckets
fill
up
and
in
the
in
short
years,
if
there
are
any
those
buckets
get
pulled
back
and
ultimately,
at
the
end
of
the
day,
look
at
the
project
and
at
the
eight
year
mark
we
decide
if
there's
a
recapture
and
if
there
is
those
funds
get
paid
back.
And
you
know
I'm
somewhat
optimistic
that
there
will
be
a
recapture
on
this.
I
hope
there
is
because
it
means
the
project
has
done
well.
J
The
grocery
tenant
has
made
their
money
and
made
even
more
money
than
that,
and
I
think,
there's
a
good
chance
of
that
happening
with
the
residential
growth
that
we're
seeing
in
that
district
and
the
market
studies
that
we've
talked
about
before.
Just
simply
don't
recognize
the
hotel
rooms
and
mall
of
america
and
other
things
that
happen
in
south
loop
that
you
don't
typically
see
in
an
area,
and
so
of
course
nobody
knows.
But
I
feel
like
there's
a
potential
on
this
one
so
happy
to
go
through
any
of
that
in
in
detail.
J
One
of
the
things
that
mcguff
asked
and
staff
ultimately
got
comfortable
with
recommending
approval
of
is
what,
if
they,
the
grocery
store,
doesn't
do
well.
Would
we
require
that
space
to
sit
vacant,
for
you
know
pretend
the
grocery
store
is
there
for
two
years
and
they
can't
make
it
work.
Then
they
go
out
and
try
to
find
another
grocery
store
and
they
can't
get
anybody.
Would
we
require
them
that
space
to
sit
empty
for
the
remaining
period
in
that
eight
years?
And
we
didn't
think
that
was
a
good
idea.
J
I
mean
the
certainly
the
development
and
finance
entities
that
want
to
have
a
grocery
store
more
than
more
than
anybody.
I
think
our
interests
are
aligned,
but
I
don't
think
anybody
wants
this
excuse
me
to
see
it
sit
empty
and
so
there's
a
process
outlined
in
the
agreements
where
they
can
seek
approval
for
a
different
type
of
use.
If
grocery
isn't
successful,.
C
B
So
if
you
would
get
into
a
situation
where
it
does
not
perform
as
you
want-
and
I
happen
to
agree
with
shane-
I
think
it
may
do
quite
well,
but
at
any
rate,
if
you
got
into
that
situation,
what
would
the
economics
are?
Is
that
there's
tremendous
incentive
to
take
and
get
somebody
else
in
there
and
they
can
do
it
at
a
pretty
low
cost,
so
that
doesn't
mean
it's
going
to
happen,
but
I
think
the
the
economics
incentives
are
strong.
B
J
J
J
So
that
that's
that's
it.
It's
a
heck
of
a
lot
simpler
than
our
our
last
item,
but
it
is
something
that
of
course,
on
a
normal
night
might
might
get
might
seem
more
more
involved.
But
again,
it's
similar
to
the
other
two
projects
that
we've
done
on
on
this
space.
The
the
big
thing,
of
course,
is
grocery
and
the
complicated
piece
of
of
this
deal
relates
to
the
grocery
and
and
the
recapture
related
to
it
and
again,
we've
got
a
whole
team
of
folks
working
on
this.
J
I
want
to
make
sure
that
that
team
is
recognized.
It's
the
same
or
similar
team,
that's
working
on
the
the
mall
water
park
project
and
so
moving
these
forward.
In
this
time,
time
frame
has
been
has
been
challenging,
but
they're
here
to
answer
questions
along
with
myself.
If
they're,
if
there
are
any-
and
I
know
that
mcguff
is
on
on
the
line
as
well,
they
haven't
prepared
a
presentation
but
they're
here
for
any
questions
that
that
may
arise.
D
J
J
J
E
Mayor
bussey,
president
erickson
and
council
members
and
members
of
the
authority.
Thank
you
very
much
and
shane
fantastic
presentation
again
really
thank
you
for
all
the
support
that
you've
provided
us
for
the
years
and
we're
excited
to
be
where
we're
at
today,
council
member
alessandro,
to
answer
your
question.
We
are
hoping
to
break
ground
candidly
in
about
three
weeks,
we're
very
close
to
that
moment
and
it's
about
a
17-month
project
to
build
the
first
phase.
E
It's
a
two-phase
project
in
the
sense
that
we're
going
to
open
up
about
250
units
for
the
first
section
and
that
section
will
include
the
common
areas
and
the
grocery
store.
So
in
17
months
from
april,
1st,
we'll
have
a
grocery
store
that
will
open
with
the
first
half
of
the
project
and
then
we'll
continue
to
finish
the
second
half
of
the
project.
Four
months
later
so
yeah.
The
good
news
is,
the
grocery
store
will
be
open
as
part
of
the
first
phase
opening
and
be
available
around
november
of
23.
excellent.
D
That
is
great
news.
Thank
you,
sir
appreciate
it
one
question
that
might
be
either
for
you,
shane
or
maybe
a
city
manager.
I've
been
kind
of
between
the
two
projects.
I
just
wondered.
You
know,
as
we
consider
our
bloomington
sales
tax
options.
Does
that
does
that
sales
tax
get
applied
only
to
the
area
as
well
like
does
it
fall
under
the
jurisdiction
of
of
taxes
when
it
comes
to
the
districts,
or
is
that
more
a
part
of
the
overall
pool
of
local
sales
tax
that
goes
to
those
projects?
D
D
No,
so
the
other
way
around,
actually
so,
if
I
buy,
if
I
buy
groceries
and
I
buy
taxable
items
at
the
grocery
store
on
pen
and
american,
I
know
that
I'll
pay
into
the
overall
bloomington
sales
tax
pool
that
goes
to
pay
for
those
projects.
If
I
buy
that
same
thing
at
this
grocery
store
in
the
south
loop,
does
the
money
go
to
the
city
or
does
it
have
to
stay
in
the
south
loop.
A
I
think
jamie
correct
me
if
I'm
wrong,
but
I
I
believe,
as
collected
it
goes
to
a
city
to
the
city
pool.
It
is
not
specific
to
an
area.
It's
not
specifically
staying
in
south
loop
or
specifically
saying
down
at
old
shakopee
and
france
avenue.
Where
cub
is,
I
mean
that
I
mean
there's,
it
goes
to
it
to
the
entire
city.
It's
applied,
city-wide.
D
Okay,
so
to
be
specific,
if
I,
if
I
buy
a
drink
at
the
radisson
blue,
and
I
pay
currently
the
liquor
tax
on
that
sale
today
as
I
drink
it,
I
would
have
the
additional
0.5
tax
for
local
option
sales
tax,
but
though
the
tax
that
is
on
there
today,
stays
in
goes
back
to
the
south
development
fund,
but
the
local
tax
comes
to
the
city
that
we
get
to
use
for
these
projects.
Am
I
correct,
shane's
saying
but
wait?
J
Mr
mayor
council,
members
and
port
authority
commissioners
so
got
it.
You
got
to
be
careful
when
you
use
the
word
tax,
so
you
buy
a
jug
of
milk
at
this
bcs4
grocery
store.
Wait,
let's
make
sure
it's
a
taxable
item.
You
you
have
to
buy
something
at
the
grocery
store.
That's
taxable,
so
you
buy
your
taxable
grocery
store
item.
Sure.
J
Yeah,
however,
that
that
plays
out,
but
you
use
the
grocery
store
and
that's
what
we're
talking
about
here.
So
I
think
it's
important
to
do
that.
So
so
you
buy
that
same
taxable
item
at
the
grocery
store
at
bloomington
central
station
or
over
some
place,
whatever
lyndale
cub,
that
if
there's
a
local
option
sales
tax
in
place,
that
money
is
going
to
go
to
the
city
general
fund
period.
Okay,
alcohol
is
a
little
different
because
it
gets
sales
tax
and
it
also
gets
liquor
tax.
J
If
you
buy
it
on
sale,
if
you
buy
it
off
sale,
there's
no
liquor
tax
in
bloomington,
so
you
buy
a
drink
at
a
hotel
lobby
anywhere
in
the
city.
It
goes
to
the
south
loop
development
fund,
okay
and
then,
as
the
city
manager
mentioned,
we
have
these
what
we
call
arbel's
a
rbls
alternative
revenue
sources
by
legislation.
Those
are
taxes
that
are
that
have
never
been
turned
on,
but
they
are
legislation
that
the
city
and
the
mall
sought
and
got
back
in
2008
and
2010
again.
Those
are
not
in
place
today.
J
Those
are
specific
taxes
that
can
be
used
only
for
specific
things
and
only
specifically
turned
on
in
certain
areas:
areas
of
the
city,
most
of
them
only
at
the
mall
of
america.
There's
one:
that's
a
lodging
tax
orbital
that
you
can
turn
on
anywhere
in
the
city.
Again,
if
you
did
that
it
only
can
go
to
the
saltop
district
and
the
reason.
C
J
I
Thank
you,
chairman
erickson,
hey,
mark
good,
to
see
you
again,
I
just
have
to
ask
got
a
pure
curiosity
question.
We
have
precisely
the
same
number
of
units
in
this
project
as
we
do
in
the
findlay.
I
was
just
kind
of
wondering
how
that
happened,
and
are
you
with
my
tongue
firmly
in
cheek?
Are
you
building
tracked
apartment
buildings.
E
Mayor
bussey,
members
of
the
council
and
members
of
the
authority,
commissioner
lunz
absolutely
not.
This
is
a
distinctly
very
unique
project.
Tongue-In-Cheek,
it
is
very
unique
project,
actually
we're
very
proud
of
it,
and
esg
architects
done
a
great
job
of
differentiating
this
project
from
the
family.
After
the
funding
was
done.
I
kind
of
promised
myself.
E
I
would
never
do
a
400
unit
project
again
in
bloomington,
but
I
think
we
quickly
realized
the
importance
of
the
grocery
store
and
I
think
it
was
going
to
be
a
hard
convince
for
ourselves
to
try
to
go
start
a
grocery
store
without
building
another
400
units.
So
it
honestly
it
was
the
grocery
store
viability
that
drove
the
similarity
in
size
and
candidate,
the
design
just
because
it's
the
most
economical
approach
to
build
that
many
units
based
on
the
parking
solution.
E
I
J
Mr
lunz,
I
always
get
a
kick
out
of
how
folks,
like
mark
fable,
distinguish
these
project
projects
for
a
while.
We've
been
we're
calling
this
project
blue
jeans,
because
mr
fable
was
very
excited
about
how
this
was
a
project
for
people
that
wear
blue
jeans
and
it's
it's
not
the
friendly
and
it's
not
indigo.
It's
it's
all.
This
other
my
eyes
just
gloss
over
and
I'm
like.
Okay,
it's
different.
But
to
me
it's
still
a
400
unit
project.
Rent's
about
the
same.
It's
got
groceries,
that's
the
kicker.
I
A
Mr
fable,
if
I
could
I
I
think
this
has
been
covered,
I'm
just
trying
to
remember
because
it
may
have
been
a
while
since
we've
talked
about
it,
but
for
the
parking,
the
parking
for
the
grocery
store.
Obviously,
it's
not
just
going
to
be
walk
up.
It's
not
just
going
to
be
folks
in
the
building,
but
there's
got
to
be
a
parking
aspect.
To
that,
could
you
describe
how
that
works?
Is
it
on
street
parking?
Is
there
additional
off
street
parking
spaces
specifically
for
the
the
the
grocery
store
short
term.
E
Mayor
busted,
the
parking
solution
for
the
grocery
store
actually
is
a
because
it's
part
of
a
larger
multi-family
product.
It
has
some
advantages
right,
so
we
have
about
36
parking
stalls
that
are
going
to
be
located
directly
on
outside
the
front
door
of
the
liquor
store
grocery
store
entrance
on
eighth
and
a
half
street,
which
is
the
road
that
goes
east
west
on
you.
There
you
go,
thank
you
shane
or
carolyn
the.
So
you
can
see
on
the
north
of
that.
E
E
So
I
think,
the
time
of
day
adjustments
between
retail
shoppers
and
residents
of
the
housing
make
that
parking
be
fairly
complimentary,
and
I
think
the
most
important
part
is
having
that
parking
lot
to
the
north
of
the
entrance
being
super
accessible
and
proximate
to
that
front
door,
which
it
is
that
will
make
it
work.
Well.
We
also
have
on-street
parking
that
will
be
on
the
north-south
section
of
31st
avenue,
as
well
as
on
the
east-west
section
of
80th
and
a
half
street.
B
C
E
I
don't
know
what
the
overall
self-loop
occupancy
is,
but
I
will
tell
you
that
the
indigo
project,
which
is
at
bloomington
central
station,
which
we
are
not
part
of
so
this
is
you
know
third-party
data.
They
really
maintained
a
very
strong
95
percent
occupancy
and
the
friendly
project,
although
it
opened
on
the
first
day
of
you,
know
shelter
in
place
during
cobalt.
E
It
actually
ended
up
leasing
up
successfully
after
about
february
of
that
year,
and
so
we
right
now
we're
over
80
occupied
and
we're
just,
I
think,
just
this
week
we
think
released
about
seven
to
seven
to
nine
units
this
week
alone.
So
the
spring
momentum
is
starting
and
we're
optimistic
that
we'll
be
fully
released
by
the
end
of
summer.
E
Yeah
yeah,
I
do
mayor
busey
and
members
of
the
council
and
members
of
the
port
authority.
Just
you
know,
having
been
on
this
meeting
and
listening
to
all
of
the
conversations
about
the
mall
of
america
and
the
water
park
and
knowing
what
all
work
went
into
the
bcs4
project,
I
just
want
to
emphasize
the
same.
Compliments
that
have
been
made
from
the
staff
and
from
the
the
commissioners
and
council
members,
the
staff
that
bloomington
has
that
works
on
these
projects
is
tremendous.
E
I
mean
they're
sophisticated
they're,
intelligent,
they're,
smart
they're
collaborative
the
council
for
the
port
authority.
Julie
eddington
has
been
involved
in
multiple
projects
at
bloomington
central
station
and
is
critical
to
tie
all
the
project,
data
and
information
together
and
a
great
resource
for
the
team.
When
we
work
on
these
projects,
it's
it's
not
the
developer,
bringing
forward
a
plan
and
an
idea
and
having
the
city
you
know
review
it.
E
We
truly
get
phone
calls
where
it's
collaborative
in
the
sense
that
we're
both
bringing
ideas
forward,
challenging
things
and
and
finding
solutions
so
tremendously.
Complementary
of
the
team.
Shane
redlang,
thanks
for
your
leadership
becky,
is
the
master
of
all
at
bloomington
central
station
and
does
a
fantastic
job.
Managing
the
project
mark
reichel,
extremely
diligent
in
all
the
details,
as
we
all
know,
and
played
a
great
role
through
that
process
and
julie
eddington
as
well.
E
B
B
F
Thank
you
mayor.
I
will
be
brief.
I
just
wanted
to
say
that
I'm
I'm
really
in
particularly
excited
about
the
the
grocery
store
element.
I
know
this
has
been
a
long
time
issue
even
back
to
my
time
on
the
hra
and
and
looking
for
development
in
the
in
the
south
area,
and
I
think
it
was
it
was
last
year
when
I
was
running
for
re-election.
F
I
think
council
member
martin
and
I
had
an
event
at
I'm
forgetting
now
which
complex
it
was,
but
one
of
the
complexes
in
the
south
loop
and
residents
there,
the
biggest
thing
on
their
mind,
was
having
a
grocery
store
that
they
could
get
too
easily.
So
that
is,
that
is
a
huge
piece.
The
rest
of
the
development
is
good.
B
D
A
A
A
F
I
A
A
C
A
Motion
carries
7-0
hi.
I
just
want
to
thank
and
call
out
council
member
nelson
for
sticking
with
us,
while
on
the
road
well
done
and
councilmember
coulter
you
are
dismissed,
go
have
a
happy
birthday
and
council
member
carter,
and
I
will
stay
here
and
hold
down
our
portions
of
the
port
authority
as
well.
So
thank
you
all
thanks
much
for
your
work
tonight.
B
B
J
J
B
H
B
B
Right
motion
carries
6-0,
and
then
we
have
one
other
small
housekeeping
item,
which
is
should
really
be
fast
and
I'll.
Just
I'll
read
this,
then
we
can
maybe
entertain
the
motion
for
it
motion
made
by
blanks
second
by
blank
to
acknowledge
the
port
authority
president's
determination
regarding
conducting
meetings
by
telephone
or
interactive
technology
and
shifting
back
to
in-person
meetings
as
of
march
14
2022.