The city has no financial liability in issuing the bonds, according to officials with the city's department of planning and economic development.
MPR is adding 37,000 sf to its headquarters at 45 E. Seventh St. by developing the green space across the street and rehabilitating the adjacent 480 Cedar Building. The radio enterprise will end up with a 150,000-sf headquarters complex.
The city already has given MPR a $3.3-million loan, which would be forgiven if the company adds 100 employees over the next 15 years. MPR plans to begin its expansion next spring. The project received several large grants as well.
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