Mall Of America Wants To Borrow Money: Report

Minneapolis MN

15 May, 2020

12:03 PM

Description

BLOOMINGTON, MN — The Mall of America is hoping to borrow money after it was forced to close amid the coronavirus crisis. Mall officials asked state lawmakers about borrowing from its tax-incremental financing account, Senate Majority Leader Paul Gazelka told FOX 9 Friday. Gazelka says the shopping center is not asking for "free money." "They're asking to use money set aside in a TIF account that they would borrow and pay back to get through this crisis," Gazelka told the news station. The mall Thursday announced its decision to reopen retail stores effective June 1. The largest shopping center in North America has been closed for eight weeks, except for pickup. Don't miss the latest coronavirus updates from health and government officials in Minnesota. Sign up for Patch news alerts and newsletters for what you need to know daily. City officials from Bloomington and state Sen. Melissa Wiklund — who represents Bloomington — oppose the plan. Read more at FOX 9.