Innovative funding for Mall of America expansion
Our client, a financial services firm, was engaged to assist in financing a major expansion of the Mall of America in Bloomington, Minnesota, including the addition of a new hotel.
We negotiated the financial centerpiece for the development--$40.3 million in Economic Recovery Zone Facility bonds (tax-exempt bonds created as part of the American Recovery and Reinvestment Act). Their issuance represents the first time tax-exempt bonds were used to build a hotel in Bloomington in 30 years.