Bloomington city officials are reviewing plans for a major water park expansion at the Mall of America. This project, estimated at over $430 million, aims to introduce a new attraction called Mystery Cove Waterpark. While most of the funding comes from private sources, a significant portion is public. Residents still have an opportunity to share their views on the proposal.
This week, city leaders will address financial aspects of the project. A public hearing is scheduled to allow community members to voice their opinions and ask questions about the development. This step is part of the ongoing process to bring the long-envisioned water park to the mall.
Key Takeaways
- Mall of America is planning a $430 million water park expansion.
- The new attraction will be called Mystery Cove Waterpark.
- Over one-third of the funding will come from public sources, specifically tax increment financing (TIF).
- Bloomington city leaders are holding a public hearing to discuss the project's financing.
- The water park will span over 200,000 square feet and include multiple attractions.
Project Details and Scope
The proposed Mystery Cove Waterpark at Mall of America is designed to be a large-scale entertainment venue. It is expected to cover more than 200,000 square feet. This substantial size will allow for a wide range of water-based attractions, enhancing the mall's appeal as a destination.
Plans for the water park include numerous features. Visitors can expect to find many slides, offering different thrill levels for all ages. A wave pool is also part of the design, providing a simulated ocean experience. Additionally, a lazy river will offer a relaxing option for guests to float along.
Project at a Glance
- Estimated Cost: Over $430 million
- Name: Mystery Cove Waterpark at Mall of America
- Size: More than 200,000 square feet
- Key Features: Multiple slides, wave pool, lazy river
Funding Structure and Public Contribution
The financing for the Mystery Cove Waterpark project involves both private and public funds. A significant portion, more than a third of the total cost, is designated as public financing. This public contribution will come through a mechanism known as tax increment financing (TIF).
Tax increment financing utilizes property taxes generated by the Mall of America itself. The mall argues that this tax revenue can be reinvested into projects within the mall property. This approach allows a portion of future property tax growth to fund specific development initiatives, rather than going into the general city budget.
"The fact that people are still looking for opportunities to invest in projects like this, to me, means that this can be a viable project," stated Chao Moua, a Bloomington City Council member, during a recent council and port authority meeting. This indicates a belief in the project's potential for success and its economic benefit.
City Leadership and Community Support
Bloomington city officials and local authorities have expressed their views on the water park proposal. Robert Erickson, President of the port authority, voiced support for the current status of the project. He acknowledged that all projects carry some level of risk.
However, Erickson believes the risks associated with the water park are minimal. He pointed out that a substantial portion of the necessary funds are already secured. This financial preparedness helps reduce potential uncertainties for the development.
Public opinion gathered so far also shows favor for the project. Several shoppers at the Mall of America indicated their enthusiasm for the planned water park. They expressed a desire to have a new attraction that would allow them to bring swimsuits when visiting the mall in the future.
Elizabeth Kuykendall, a visitor from Oklahoma, commented, "That’s a pretty good use of tax money. You’re not just throwing it away. You’re using it to give something back to the community everybody can enjoy." Her statement highlights a common sentiment among supporters: the project offers a tangible benefit to the public.
Background on Mall of America
The Mall of America, located in Bloomington, Minnesota, is one of the largest shopping malls in the world. Since its opening in 1992, it has been a major tourist attraction, combining retail with entertainment. It currently features an indoor amusement park, Nickelodeon Universe, and an aquarium, SEA LIFE Minnesota Aquarium. The vision for a water park has been part of the mall's long-term expansion plans since its early days.
Economic Impact and Future Vision
The development of Mystery Cove Waterpark is expected to have a notable economic impact on the region. Large-scale attractions often draw more tourists, leading to increased spending at local businesses, hotels, and restaurants. This can create new job opportunities both during construction and once the park is operational.
The project represents a continued effort to evolve the Mall of America beyond just a shopping destination. By adding a major water park, the mall aims to strengthen its position as a comprehensive entertainment and leisure complex. This strategy seeks to attract a broader audience and encourage longer stays by visitors.
- Increased tourism revenue for Bloomington.
- Creation of new employment opportunities.
- Enhanced entertainment options for residents and visitors.
- Reinforcement of Mall of America as a diverse destination.
Next Steps and Public Engagement
The Bloomington City Council's meeting this Tuesday is a crucial step for the project. During this session, financial actions related to the water park will be considered. The public hearing scheduled for the same day provides a formal channel for community input.
Residents who wish to learn more or share their views are encouraged to participate in this hearing. The city's decision will determine the pace and specifics of the water park's progression. This public engagement ensures transparency in the development process and allows for community feedback to be considered.
The vision for a water park has been a part of the Mall of America's expansion plans for many years. With the current proposal, this long-standing goal is closer to becoming a reality. The project aims to further establish the mall as a premier destination for both shopping and entertainment.
