Mall of America
BLOOMINGTON, MN (KFGO) – Mall of America is three months behind in mortgage payments.
Mayor Tim Busse says the mall owes the city $2.3 million in property taxes. The mall’s owner, Triple Five Group, has entered what is called a forbearance agreement as it tries to avoid foreclosure.
Busse says 10% of Bloomington’s property tax base comes from the mall.
It is struggling with the coronavirus pandemic, but the mayor says 95% of the city’s other businesses have managed to pay their property taxes despite the difficulties.
Comments