In the Media@
In Minnesota, A Mall as Big as All Indoors
New York Times
November 17, 2006
Bass Pro Shops will Join MOA
Bloomington Sun-Current
November 30, 2006
Owners of Megamall Anticipate Mega Changes Coming Soon
Minneapolis/St. Paul Business Journal
December 5, 2006
Mall of America: A Strategic Public Investment
City of Bloomington Briefing
February, 2007
Fast Facts
@Fast Facts: Mall of America@
OVERVIEW
- Mall of America® draws 40 million visitors each year and is the number one tourist destination in the Midwest – more than the combined populations of North Dakota, South Dakota, Iowa and Canada
- More than half a billion people have visited Mall of America since its doors opened in 1992
- The average dollar amount spent per visit at MOA is 52 percent higher than the nationwide average
- At 4.2 million square feet, Mall of America has more than 520 stores and 12,550 parking spaces
- Mall of America offers a number of exclusive retailers not replicated anywhere else within the regional market, including Solstice, Tommy Bahama, Bare Escentuals, friends 2 B made, Swatch, Lindt, Local Charm, Club Monaco, Puma, Metropark, Swarovski, United Colors of Benetton and Torrid
- Key attractions include Nickelodeon Universe™, Underwater Adventures® Aquarium, LEGO® Imagination Center, A.C.E.S. Flight Simulation, NASCAR Silicon Motor Speedway, Bloomingdale's, Macy's, Nordstrom and Sears
SUSTAINABLE DEVELOPMENT AND DESIGN
Mall of America® is committed to green design. In fact, MOA “lives green” 365 days a year. The Mall has been committed to the environment since its beginning, incorporating elements such as passive solar heating, an extensive recycling program, live plants and trees to act as natural air purifiers, and water-efficient toilets.
Phase II will prioritize continued environmentally responsible design. The project is intended to exceed industry standards and expectations for sustainable design by working closely with the U.S. Green Building Council (USGBC). Phase II is designed to achieve Leadership in Energy and Environmental Design (LEED®) certification, resulting in a high-performance sustainable facility.
Highlights of Mall of America’s green accomplishments reflect 20 years of success and a continued resolve to make Phase II a success for Minnesota and the environment:
- MOA recycles more than 60 percent of waste – an average of 32,000 tons per year
- MOA recycles more than 2,400 tons of food waste to a local hog farm, which equates to more than one million hog meals
- MOA converts the fat from restaurant fryers into more than 50,000 lbs of biodiesel per month
- MOA does not use a central heating system; instead, the comfortable 72 degrees is maintained with 1.2 miles of skylights for solar energy and body heat from more than 40 million visitors
- MOA uses water-efficient toilets that save more than 1.4 million gallons of water
Phase II will continue this commitment by:
- Diverting at least 50 percent of the construction waste to recycling facilities rather than landfills
- Reducing the environmental impacts from transportation by using building materials that are extracted and manufactured within a 500-mile radius of the project site
- Reducing the use of potable water for landscape irrigation by 50 percent by using water efficient plants and irrigation techniques
- Reducing the quantity of indoor air contaminants that are harmful by using low-emitting adhesives and sealants, paints and coatings, carpet systems, and composite wood and agrifiber products
- Implementing the sustainable initiatives already made successful in Phase I
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Fast Facts: Economic Benefits@
Since opening its doors 15 years ago, Mall of America® has provided direct economic benefit to the city of Bloomington and the state of Minnesota. Following is a summary of this significant impact.
TAX BENEFITS AND ECONOMIC IMPACT
- MOA generated $800 million in total taxes, including state, regional and local taxes through 2007
- Annually, MOA generates more than $1.9 billion in economic impact and with Phase II that figure is expected to increase to $4.3 billion
- The average dollar amount spent per visit at MOA is 52 percent higher than the nationwide average spent at shopping malls
- MOA currently employs 11,000 people and that number increases to 13,000 in the summer and during the holiday season. MOA projects more than 20,000 total job opportunities with the addition of Phase II.
- Each year MOA pays more than $55 million in state and local taxes. The addition of Phase II will mean $80 million in additional tax revenue.
- Bloomington's General Fund receives $1 million in taxes from the Mall each year over and above the cost of services
- During its first 20 years, Phase II sales taxes alone are projected to generate $1.137 billion in new revenue for the state of Minnesota. New sales taxes generated solely from the additional out-state visitors to Phase II will exceed the total public investment requested for MOA.
TRANSIT AND INFRASTRUCTURE DEVELOPMENT
- MOA contributed $1.4 million, or 60 percent, of the cost of the public transit station
- MOA was instrumental in securing additional federal funding for light-rail transit by providing a high traffic anchor to the end of the line
- MOA played a key role in encouraging transit-friendly development, such as Bloomington Central Station, by donating the public easement to complete the project
TOURISM BENEFITS
- MOA is the state's most recognized landmark and generates 40 million annual visitors, one-third traveling from outside of 150 miles, and is the number one tourist destination in the Midwest
- More than a half billion people have visited Mall of America since its doors opened in 1992
- On any given day MOA becomes Minnesota’s third largest city in population
- Tourists spend an average of $162 per visit to MOA
- Weekly MOA surveys indicate that the visitor base represents every state
- Forty-two percent of tourists who visit MOA received recommendations and 28 percent are repeat visitors
- More than 30 million people live within a day's drive of MOA
- In addition to the $437 million tourists spend at Mall of America annually, every family or group visiting MOA from outside Minnesota spends $539 on goods and services outside MOA
SMALL-BUSINESS DEVELOPMENT OPPORTUNITIES
- MOA has a short-term leasing program that seeks new retail and entrepreneurial concepts. MOA has a total of 81 Minnesota companies participating in the short-term leasing program.
- Chapel of Love and Glitz! founder Mary Ann London opened the famous Chapel of Love in 1994. She later opened the specialty prom store Glitz! that has grown into a multi-million dollar company.
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Fast Facts: Contributions to Local and State Communities@
Since opening 15 years ago, Mall of America® has helped generate more than $100 million in non-profit fundraising by hosting and promoting non-profit events on-site. Throughout the years, the Mall has partnered with several organizations to promote the Mall, and the state of Minnesota, as a destination.
NON-PROFIT PARTNERSHIPS
With a commitment to the community, Mall of America donates to more than 300 organizations annually, supports and promotes on-site fundraising events and partners with more than 40 non-profit organizations.
- MOA is committed to hosting non-profit events. Signature events include:
---------- - Race for the Cure – This event has raised more than $5 million for
---------- - cancer research since moving to MOA in 2005
---------- - Juvenile Diabetes Research Fund (JDRF) Walk – Hosted at MOA for the
---------- - past 15 years, in 2007 this walk raised more than $1.8 million
---------- - for life-saving research
---------- - Jerry Lewis' Muscular Dystrophy Association's Annual Telethon – The
---------- - telethon has raised more than $5 million since 2002
---------- - K102 Cares for St. Jude’s Kids’ Radiothon – Hosted at MOA since 1998,
---------- - the radiothon has raised nearly $7 million in the past five years
- Since 2003, Mall of America Foundation for Youth has given more than $300,000 in grants to charities and direct scholarships to high school seniors, funding more than 45 scholarships
- Each day, MOA opens its doors to thousands of "Mall Walkers" to promote health and wellness by offering the community an affordable and easy opportunity to exercise year-round
- MOA provides a complimentary community booth to non-profit organizations interested in using MOA as a venue to raise awareness for its organization
- Each year MOA hosts a free holiday music festival featuring more than 200 groups from around the state
RAISING VISIBILITY AND AWARENESS
- MOA is a major U.S. brand as evidenced by its position on the newest MONOPOLY: Here & Now Edition board game representing Minnesota and the upper Midwest as a national landmark and renowned travel destination
- Retailers target MOA for new product launches because of its diverse customer base
- During the past 15 years, MOA has hosted or sponsored more than 5,000 events such as American Idol and the Food Network Challenge
- MOA has partnered with several organizations to promote the Mall and Minnesota as a destination. Partners include Pepsi, General Motors, General Mills, NWA, Caribou Coffee, the United States Postal Service, Visa and others
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Frequently Asked Questions@
FAQ: PHASE II COST AND PUBLIC FINANCING
Q: Is the public being asked to pay for the Phase II MOA project?
A: No. All public funding costs are paid back by taxes generated by Mall of America and supports public infrastructure. Not one dollar of public funding goes toward private development.
Q: What is the cost of Phase II?
A: The Phase II expansion will be an investment of approximately $2.1 billion, with a substantial portion of $1.8 billion coming from private investors. That is good news for the city, the state and the region.
Q: How does this investment compare to Phase I - what did it cost?
A: Phase I cost $650 million in 1991 dollars - totaling a cost of more than $1 billion if built today.
Q: Will Phase II increase tax revenues for the state of Minnesota?
A: Yes. During the first 20 years, Phase II sales taxes alone are projected to generate $1.137 billion in new revenue to the state of Minnesota. The new sales taxes generated from the additional out-state visitors to Phase II alone will exceed the total public investment requested for MOA.
Q: How does Mall of America contribute?
A: Each year MOA generates approximately $55 million in state and local taxes, and has generated more than $800 million in total taxes since opening 15 years ago. It is anticipated that Phase II will be an even greater economic asset than Phase I.
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Testimonials@
Susan G. Komen Twin Cities Race for the Cure
“We would like to extend our unwavering support for the proposed Phase II project at Mall of America®. MOA became the host site of Race for the Cure in 2005. Their commitment has exceeded all expectations, and they have proven to be the finest partner a charitable organization could have. Advancement of our cause, ‘to eradicate breast cancer as a life-threatening disease,’ is dependent on raising public awareness and public money to invest in breast health programs. MOA has enabled us to make a profound impact in both areas. The expansion of Phase II, providing growth potential for future Race events, would move us one step closer to our dream of a world free of breast cancer.”
David Egan and Char Plitman, co-executive directors
Susan G. Komen Race for the Cure - Minnesota Affiliate
Juvenile Diabetes Research Foundation
“The Minnesota chapter of the Juvenile Diabetes Research Foundation has been privileged to partner with Mall of America on our Walk to Cure Diabetes for the past 15 years. It’s been an incredible journey. The first year of the Walk $50,000 was raised, and this year we anticipate more than $1.8 million will be raised to find a cure for diabetes. Their support and generosity has enabled JDRF to develop the Walk into a world-class event that attracts more than 18,000 walkers. Mall of America is a shining example of the impact that dedication to corporate-citizenship can have on a community.
The expansion of Mall of America in Phase II would provide limitless possibilities in regard to the growth of our Walk and enhance the already strong perception of having a destination event. The appeal of the additional space and attractions would enable us to draw more families affected by type I diabetes from further distances and allow us to create an experience that is exciting and memorable for all participants.”
Angie McCarthy
Juvenile Diabetes Research Foundation
Explore Minnesota Tourism
The development of Phase II at Mall of America will undoubtedly pay huge dividends to the state. For those that have not been here before, Phase II will give them a new reason to explore Minnesota. For those who have been here, it will give them a reason to return. Mall of America and Phase II will reap benefits for Minnesota for years to come.”
John F. Edman, director
Explore Minnesota Tourism
City of Bloomington
“Mall of America has been an international draw for the area and the region. When I travel, MOA is the first thing people ask me about.”
Mayor Gene Winstead
Bloomington, Minn.
The Salvation Army Harbor Light Center
“The Salvation Army Harbor Light is happy to express our deepest and most heartfelt appreciation for the wonderful support we receive from Mall of America. Throughout the last five years, the generous public access and visibility MOA allows Harbor Light during our annual holiday Kettles Campaign has resulted in hundreds of thousands of dollars raised to provide continued help for the homeless.
In addition to the critical Kettles Campaign, each year MOA gives the Salvation Army free access to their community rotunda for numerous special events and fundraisers. It is a good feeling to know we can count on MOA to share this valuable space for events that otherwise would be too expensive for us to manage. The Salvation Army Harbor Light prizes our relationship with MOA and holds them as an example of excellence in community partnerships.”
Sandy Delos
The Salvation Army Harbor Light Center
Apple Inc.
“When Apple Incorporated decided to launch its retail store, we knew an important location would be Mall of America. In August 2001, we opened our doors to more than 2,000 raving fans. The high traffic coming through this store has made a positive impact on Apple. We love being a part of Mall of America.”
Duke Zurek, market manager
Apple Inc. Minnesota
Chapel of Love and Glitz!
“When I opened Chapel of Love in 1994, I received more than $2 million in international publicity in my first year. I was stunned. When I sold the company 12 years later, I had performed weddings for more than 4,000 couples from all 50 states, as well as numerous foreign countries. Mall of America is such a big attraction to the world, but we don't always appreciate its impact. In 2003, I opened the specialty prom store GLITZ! I am able to stay open year-round because of the additional tourism business. In only four seasons, GLITZ! has become one of the top five prom shops in the country. The second phase of Mall of America, with its hotels and exciting venues, will bring even more out-of-state and international travelers who appreciate the uniqueness and quality of gowns GLITZ! offers. I already am looking forward to including Phase II in my expansion plans.”
MaryAnne London, owner
GLITZ!
Nordmanns-Reiser AS
“For Norwegians either on holiday or visiting friends and family in Minnesota, MOA is a must see attraction. With tax-free shopping and Nickelodeon Universe™, the whole family is guaranteed a good time. With the plans and completion of Phase II, MOA will certainly strengthen its position as a destination for both domestic and international guests.”
Kjell Olav, Tangen International Tour Operator
Nordmanns-Reiser AS (Oslo, Norway)
Wahi's Inc – DBA City Shirts
"As a tenant who has been at Mall of America since the very first day, we are very excited about the tremendous opportunity Phase II represents for our business as well as the overall Minnesota economy. Since the existing mall served to put Minnesota on the national map, we believe the sheer scale of the Phase II project – doubling the size of the mall – will put Minnesota on the global map of hot tourist destinations! More tourists mean more sales – it’s just that simple! But not only for retailers like us; hotels, restaurants and bars, transportation companies and all the businesses that support these industries stand to benefit a great deal. The economic impact for the state of Minnesota will be enormous. I do recall that there were many skeptics during the planning and construction of the existing mall that said, "Nope, it will never work.” My prediction: build it and they (global and national tourists) will come! We can hardly wait for the groundbreaking!”
Ramesh Wahi, president
Wahi's Inc, DBA City Shirts
The Afternoon
“The Afternoon looks forward to the expansion of Mall of America. We are a great example of how a small business can excel in a mall environment surrounded by prominent retailers. By offering unique products and a playful atmosphere we have proven that our commitment to finding new and exciting merchandise has customers constantly surprised and delighted. The growth of the mall would provide us with the opportunity to reach even more customers and ensure our continued success.”
Rachel Casper, store manager
The Afternoon
Destination Bloomington – Bloomington Convention and Visitors Bureau
“Mall of America is the most popular attraction in the state, and Bloomington is proud to be its home. With our many hotels and convenient location in the metropolitan area, visitors continue to enjoy all that it has to offer such as shopping, entertainment and fun!”
Bonnie Carlson, president & CEO
Bloomington Convention and Visitors Bureau
Explore Minnesota Tourism
“Mall of America consistently ranks at the top of the list of Minnesota attractions for both residents and non-resident. Travelers throughout the region and the world know of Minnesota because of Mall of America. Shopping is one of the top activities travelers engage in, and Mall of America has a huge economic impact on the travel and tourism industry in the state.
John F. Edman, director
Explore Minnesota Tourism
Itineraries Minnesota Magazine
“Tour operators and group travel planners worldwide recognize MOA as a primary itinerary destination for multi-day tour packages. In fact, the American Bus Association recently announced (Feb 2007) that “a fully loaded motorcoach (46 passengers on average) on a charter or tour making an overnight stay contributes an average of $5,000 to $7,500 per day to the local economy in expenditures including meals, lodging, shopping, admission fees, souvenirs, and local taxes”.Since opening, thousands of domestic motorcoaches and international tour groups have visited the Mall of America and as a result, MOA has helped to significantly increase regional tourism awareness and revenues throughout Minnesota and the upper Midwest.”
Mark Peterson and Heather Lahren, Co-Publishers
Itineraries Minnesota Monthly
Minneapolis Building and Construction Trades
“The Minneapolis Building Trades eagerly look forward to the Phase II expansion of MOA. This project will mean as many as 7,000 jobs for Building Trades’ members during initial construction with many more jobs on tenant improvement after construction is completed. Phase I of the Mall was a great success for Building Trades. The Trades’ members took pride in their work at the MOA and I expect the same will be true for Phase II.”
David Ybarra, Business Manager
Minneapolis Building and Construction Trades
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Overview: Phase II Development@
- Mall of America® has development rights for up to an additional 5.6 million square feet of mixed-use space north of the existing Mall, in addition to the parking lot on the south side
- With 40 million annual visitors, MOA has more visitors than all other attractions in the state combined and nearly 10 times more visitors than Minnesota's second biggest attraction, Cabelas® in Owatonna
- Complementing Mall of America, Phase II is designed like a lifestyle center under glass with upscale retail, hotel and entertainment options while incorporating natural elements that reflect our region, such as greenery, waterfalls and natural rock formations
- Expansion plans consist of a four-level complex, similar to the existing Mall, that will connect to the existing Mall on all four levels
- Plans include an NHL-size arena for public skating, as well as private practice
- Phase II is expected to attract additional upscale customers with an estimated annual household income of more than $100,000, as well as families with older children
- Phase II anticipates drawing an additional 20 million visitors annually – nearly 40 percent from outside 150 miles – almost doubling the state economic impact to an estimated $4.3 billion
- The expansion will add up to 8,000 additional parking spaces
- Committed tenants include:
----------- Bass Pro Shops – one of the nation's leading outdoor recreational
---------- --retailers will lease approximately 300,000 square feet and function
---------- --as one of the Phase II anchors
- Expansion plans include the south area near Killebrew Drive, where Kimpton Hotel, a luxury boutique hotel featuring more than 200 rooms, is scheduled to begin construction later this year with completion anticipated for 2008
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http://www.mallofamericaphase2.com/publicsupport/Fast Facts: Labor Benefits@
- Phase II will create more than 7,000 construction jobs during the 42-month construction phase
- Total development costs for MOA's Phase II expansion, are estimated at $2.1 billion. This project will also generate more than $100 million in construction taxes and labor income taxes during the building phase alone.
- Labor investment will account for approximately 45 percent of the $2.1 billion, or $945 million, of total development costs
- More than 85 percent of all materials used to develop Phase I were supplied by Minnesota companies, which would equate to more than $980 million in materials purchased from Minnesota companies to develop Phase II
- Ongoing construction and upgrade costs for Phase I total more than $20 million per year and continue to provide hundreds of ongoing construction jobs. With Phase II, the ongoing construction and upgrade costs after initial construction are estimated to exceed $40 million annually and provide hundreds of additional labor jobs.
- In 2007, Mall of America and organized labor signed the largest Project Labor Agreement in Minnesota’s history for Phase II
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Fast Facts: Green Building@
ENVIRONMENTALLY RESPONSIBLE DESIGN
Mall of America® is committed to sustainable design. The existing Mall was designed and built in an environmentally responsible manner incorporating elements such as extensive recycling programs, live plants and trees to act as natural air purifiers, and water-efficient toilets. See below for more details.
The Phase II expansion will prioritize continued environmentally responsible design. The Phase II development team intends to exceed industry standards and expectations on sustainable design by working closely with the U.S. Green Building Council. Phase II is on track to achieve certification from Leadership in Energy and Environmental Design (LEED®) through design and construction concepts, resulting in a high performance green facility.
A comprehensive approach will ensure sustainability by recognizing performance in the following key areas:
- Human and environmental health
- Sustainable site development
- Water savings and energy efficiency
- Materials selection and indoor environmental quality
Innovative Green Design Concepts in Consideration for Phase II
- Optimizing energy performance of the building systems by designing systems that have a higher level of energy performance than the baseline. Included in these systems are energy recovery systems that will recover energy from the relief and exhaust air streams and a combined heat and power energy plant that will reduce global warming caused by CO2 by 11.5 percent. Using the waste heat from the CHP plant is approximately 50 percent more efficient than a regional power plant.
- Applying design strategies for exceptional performance above the requirements set by the LEED Green Building Rating System by reducing CO2 emissions, using high temperature hot water from the CHP plant for heating, reducing the parking spaces by using light rail and implementing a traffic management plan.
- Reducing pollution and land development impacts from automobile use by locating the project near an existing light rail station, providing bicycle racks, sizing the parking capacity to not exceed the minimum local zoning ordinance and providing preferred parking for carpools and low-emitting and fuel efficient vehicles.
- Limiting the disruption of natural hydrology and reducing water pollution by increasing on-site filtration and managing storm water runoff.
- Reducing ozone depletion by not using CFC based refrigerants.
- Providing ongoing accountability of the building’s energy consumption over time by developing a measurement and verification process to monitor the building’s energy use.
- Diverting at least 50 percent of the construction waste to recycling facilities rather than landfills.
- Using building products that incorporate recycled content.
- Reducing the environmental impacts from transportation by using building materials that are extracted and manufactured within a 500-mile radius of the project site.
- Requiring at least 50 percent of the wood products come from an environmentally responsible forest and be certified by the Forest Stewardship Council.
- Avoiding development of inappropriate sites by using a site that has been previously developed.
- Protecting greenfields, preserving habitat and natural resources by constructing sites with a minimum of 60,000 square feet per acre.
- Reducing the heat island effect of non-roof areas to minimize the impact on micro climate and human and wildlife habitat by placing more than 50 percent of the parking spaces under cover.
- Reducing the heat island effect of roof areas by using roofing materials that have a high Solar Reflectance Index.
- Reducing the use of potable water for landscape irrigation by 50 percent by using water efficient plants and irrigation techniques.
- Using an enhanced refrigerant management and monitoring program to eliminate the release of HCFC refrigerants into the atmosphere.
- Enhancing indoor air quality in the building by establishing the minimum requirements of ASHRAE 62.1-2004 and prohibiting smoking in the building.
- Reducing the quantity of indoor air contaminants that are harmful by using low-emitting adhesives and sealants, paints and coatings, carpet systems, and composite wood and agrifiber products.
Environmentally Responsible Design Elements in Phase I
- Mall of America recycles more than 60 percent of its waste annually. That is an average of 32,000 tons per year or the equivalent of more than 18,000 cars in a landfill.
- MOA recycles more than 2,000 tons of food waste to a local hog farm, which feeds more than one million hogs annually.
- MOA converts the fat from its fryers into more than 4,000 pounds of biodiesel per month – enough fuel for a 53-foot semi truck to travel from New York to Los Angeles five times.
- MOA does not use a central heating system. During the heating season, the Mall maintains a comfortable 72 degrees inside with 1.2 miles of skylights for solar energy, retail lighting and body heat from more than 40 million visitors annually.
- More than 30,000 live plants and 400 live trees act as natural air purifiers within MOA.
- With more than 100 tons of glass bottles recycled at MOA each year, electricity could be provided to more than 3.5 homes using 100-watt light bulbs for eight hours each day for one year.
- MOA has more than 275 water-efficient toilets that use only 1.6 gallons per flush compared to the average toilet which uses 3 gallons per flush. The amount of water saved every year exceeds 1.4 million gallons and could fill three Olympic-size swimming pools.
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The Top 10 reasons…@
...Mall of America Phase II is a wise investment.
1) Phase II will create more than 7,000 new construction jobs and generate more than $100 million in construction taxes and labor income taxes during the building phase alone. When complete, Phase II will create up to 7,000 additional permanent jobs.
2) This project will bring economic growth to Minnesota through an investment of more than $2 billion in new construction - the largest commercial real estate investment in state history.
3) Mall of America is one of the largest tax payers in the state and has generated more than $800 million in tax revenue since it opened.
4) Mall of America generates over $50 million in taxes each year, and by 2015 Phase II is projected to generate an additional $80 million in tax revenue per year. Together, Phase I and Phase II will generate over $3.4 billion in total taxes over the first 20 years. Yes, that is billion with a "B."
5) Over the past 15 years MOA taxes have contributed more than $144 million to education funding and more than $45 million to transportation funding. Combined with Phase II, those totals will jump to $712 million in education and $225 million in transportation during the first 20 years.
6) The city of Bloomington estimates that Mall of America has generated four times more tax revenue than alternative market-driven development would have – a total of more than $600 million.
7) Out-of-state tourists visiting MOA spend more than $1 billion annually outside the Mall – on items such as hotel rooms, rental cars, dining out, visiting attractions and sporting events. Tax revenue generated from out-of-state visitors alone exceeds the public financing request.
8) Mall of America has well over 40 million visitors annually, 10 times the state’s second most popular tourist destination and exceeds all other state tourist destinations combined. MOA welcomes more visitors each year than the combined populations of North Dakota, South Dakota, Iowa…and Canada.
9) Mall of America has helped non-profit organizations raise more than $125 million dollars, donates to more than 300 organizations annually and has invested more than $350,000 in Minnesota’s youth through the Mall of America Foundation for Youth scholarship program.
10) All public funds support public infrastructure. Not one dollar of public funding goes toward private development.
Mall of America Phase II
Self funded through jobs, tourism and taxes.
MOA Video@
/MOA_2008.swf@
Legislature Passes Mall of America Phase II Bill
May 18, 2008 – The Minnesota Legislature passed a tax bill Sunday that includes language supporting the proposed Mall of America Phase II expansion.
We are grateful Mall of America Phase II was included in the legislation. The bill appears to provide funding from on-site taxes generated by both the present mall and the proposed expansion to help pay for the required public parking facility. The bill also includes numerous conditions and use restrictions that stand to physically alter the project, including a ban on a proposed 6,000 seat music theater and the elimination of the Chanhassen Dinner Theater and all other live theater venues.
We are cautiously optimistic but not certain yet what the bill means for the project as proposed or the project’s timing. We need to study the restrictions and other conditions in the bill with our partners, including the City of Bloomington, the lending community and our anchor tenants. We know the legislation requires us to redesign portions of the development, but we are committed to trying to make the project work.
We greatly appreciate the bipartisan support the project received this session and we thank legislative leadership and Gov. Pawlenty for their tireless efforts to create a financing package that gives the project a chance to move forward. We specifically thank our bill authors Sen. Tom Bakk and Rep. Mike Nelson as well as House Speaker Margaret Anderson Kelliher, Senate Majority Leader Larry Pogemiller, House Majority Leader Tony Sertich, Senate Minority Leader David Senjem, House Minority Leader Marty Seifert, Assistant Senate Majority Leader Tarryl Clark, House Tax Committee Chair Ann Lenczewski and Gov. Pawlenty’s administration and staff.
We also thank the city of Bloomington and our other supporters for their ongoing work to make Phase II a reality. We owe a special debt of gratitude to our friends in the construction industry who dedicated countless hours to advancing this project on behalf of their employees and members, and many thousands of out-of-work Minnesotans. We especially thank the general contractors and subcontractors, PCL Construction Services Inc., the Associated General Contractors of Minnesota, and our many labor union partners, including: Minneapolis Building and Construction Trades Council, St. Paul Building and Construction Trades Council, North Central States Regional Council of Carpenters, Laborers District Council of Minnesota and North Dakota, International Brotherhood of Electrical Workers Local Union 292, Sheet Metal Workers' International Association Local Union #10, International Union of Painters & Allied Trades District Council 82, International Union of Operating Engineers, Minnesota Pipe Trades, International Brotherhood of Teamsters Local 120, and Joint Council 32 DRIVE.
The Mall of America expansion would be the largest commercial construction project in state history. The $1.8 billion private investment in the project is an amount three times larger than this year’s bonding bill. The project would put more than 14,000 Minnesotans to work, including 7,000 construction jobs and another 7,000 permanent positions. When finished, the Mall would be back on top as a leading tourist destination, capable of attracting visitors from all over the world to Minnesota.
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Labor Support@
NEW! Check out the Mall of America Phase 2 Blog! Please jump in and join the conversation.
In support of Mall of America Phase II April 29, 2008