Wednesday P.M. Report

Hennepin County OKs bonds for Mall of America hotel: The Hennepin county Board on Tuesday approved Bloomington’s request for $40.3 million in tax-free recovery-zone facility bonds to help pay for a 501-room hotel at the Mall of America. The bonds, funded by the American Recovery and Reinvestment Act of 2009, are a key component of a complicated $127 million financing package for the project. Hotel revenue will be used to repay the bonds. Golden Valley developer M.A. Mortenson Co. plans to start construction on the hotel in late December. Read full story

Mayor Coleman unveils plan to jump-start St. Paul developments: St. Paul Mayor Chris Coleman today unveiled Rebuild Saint Paul, a $15 million initiative that will call upon private investment, bonding and state and federal funds to tackle a variety of construction projects. The project’s initial plan outlines 15 projects slated to begin construction between 2010 and 2012. All told, the plan is expected to generate $100 million in investment and create more than 3,000 new jobs in the city, nearly 500 of which will be permanent. Read full story

UnitedHealthcare commits $1.9 million for walking paths: UnitedHealthcare announced today that it is committing $1.95 million over three years to the American Heart Association to help establish walking paths throughout the country. The money will be used to build 150 paths in the first year, and to help fund enhanced online walking resources on the American Heart Association’s walking paths website. The site provides walking and exercise regimens, maps of local walking paths, online tools to track workout progress and various other tools. Read full story

Best Buy acquires naming rights for NYC theater:  Best Buy has acquired the naming rights for a 2,100-seat concert and event venue in New York City’s Times Square. Under the terms of the multi-year agreement, the Nokia Theater Times Square will be renamed the Best Buy Theater, effective Sept. 14. “Times Square is at the center of media and entertainment, and both are central to our brand so this venue is a great fit for us,” said Drew Panayiotou, chief marketing officer for Best Buy’s U.S.-based operations. Read full story

You can also learn about all our free newsletter options.

No comments yet

Leave a Reply