Financing details
August 12, 2010 at 1:54AM
•$40.3 million in tax-exempt bonds available under the stimulus package and issued by the Bloomington Port Authority, to be repaid by the hotel owner.
•$40 million in private taxable bonds to be repaid by the hotel owner.
•$35 million of private investments arranged by Mortenson Development.
•$15 million in tax increment financing from the city of Bloomington for the new parking garage.
•Dougherty Funding LLC in Minneapolis is expected to underwrite the bonds.
about the writer
A three-member arbitration panel heard arguments from attorneys for Glen Taylor and attorneys for Marc Lore and Alex Rodriguez three months ago.
