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Mall of America gets luxury hotel on the Fed's dime
Good news for mall junkies: Bloomington, Minnesota's vaunted Mall of America will get a luxury hotel in the near future -- thanks in part to federal stimulus funds. Plans for the hotel have been in the works for several years, but had to be quashed two years ago due to lack of funding, says USA Today.
Now, Hennepin County officials have granted the Bloomington Port Authority the ability to issue $40.3 million in tax-free bonds to help fund the $130 million venture. The hotel is set to be 12 stories, and connected to the MOA via a skyway. And though it's not yet clear who will manage the property, Starwood, Radisson and Marriott are all up for the gig.
The federal stimulus funds were made available to projects that were "significant and shovel ready" and located in economically depressed areas. Proponents of the hotel say it will bring much-needed jobs to the area, and will pay for itself in revenue. But critics argue that building a luxury property probably isn't the best use of federal funds. What do you think, Gadling readers?
[photo by Flickr user cliff1066]
Filed under: North America, United States, Hotels and Accommodations, News
Reader Comments (Page 2 of 2)
Jack Aug 21st 2010 2:24PM
If its like here in florida most all of the construction workers will be illegal aliens from mexico same goes for the staff once the hotel is open, NOT AMERICANS.
nick Aug 21st 2010 3:30PM
I think it's a great idea. Of course, I live in Bloomington, so it will help our economy. Our city if far from affluent, there are a lot of lower income people living here. Everyone wants Obama to create jobs but then they complain when the government creates them. It's a no win situation. He can't force businesses to hire new employees, they're the ones that are holding out on hiring.
nick Aug 21st 2010 3:39PM
In response to someone who made fun of the politicians from MN. The one I'm most embarrassed of is Michelle Bachman, now she's a nut job. Says the craziest made up stuff.
ed baggett Aug 21st 2010 5:10PM
I'd have to win the lottery to even go up there. I never got my stimulus money !
Dennis Aug 21st 2010 6:12PM
We went to the Mall a couple of times a year,until about 10 years ago when it was overrun with gang bangers and all the good resturants closed, even Snoope hit the road. Went back last year ,nothing like it used to be .Wont be going back.