PROVIDENT GROUP - OLD MET PROPERTIES

What they do

THE ORGANIZATION WAS FORMED IN 2019 FOR THE PRIMARY PURPOSE OF (A) LESSENING THE BURDENS OF GOVERNMENT OF THE CITY OF BLOOMINGTON, MINNESOTA (CITY) AND THE PORT AUTHORITY OF THE CITY OF BLOOMINGTON, MINNESOTA (PORT AUTHORITY) BY ASSISTING THE CITY AND PORT AUTHORITY IN DEVELOPING, CONSTRUCTING, FINANCING, OWNING, OPERATING, AND MAINTAINING A WATERPARK AND RELATED AMENITIES (PROJECT) FOR GENERAL PUBLIC USE EXCLUSIVELY FOR THE BENEFIT AND SUPPORT OF THE CITY AND PORT AUTHORITY , AND LESSENING THE BURDENS OF GOVERNMENT OF THE CITY AND PORT AUTHORITY TO PROVIDE AND PROMOTE PUBLIC RECREATION FACILITIES FOR ITS CONSTITUENCY , AND (B) PROMOTING ECONOMIC DEVELOPMENT AND THE GENERAL PUBLIC WELFARE OF THE CITY BY EXPANDING AND IMPROVING THE PARK AND RECREATION PROGRAM AND FACILITIES OF THE CITY. ALTHOUGH IMPACTED BY COVID-19, WITH THE SUPPORT OF THE CITY AND THE PORT AUTHORITY, THE ORGANIZATION REMAINS COMMITTED TO THE DEVELOPMENT OF THE PROJECT.