Bradley, IL – The Village of Bradley is moving ahead with a $51 million bond issuance to fund the construction of an indoor water park near Northfield Square Mall, a project aimed at boosting regional tourism and local development.
According to officials, the bond sale is expected to take place within the next 30 to 60 days following an ordinance approved at Monday night’s village board meeting. The funds will cover the full cost of the facility, which is designed to serve as a year-round attraction.
Finance Director Rob Romo said the bonds are anticipated to carry an interest rate slightly above 4%. “We’re looking at favorable market conditions,” Romo noted, adding that the village expects the process to wrap up within the next few months.
If financing proceeds as planned, construction could begin as early as this spring. The indoor water park will be located adjacent to Northfield Square Mall, an area officials hope to revitalize through new development.
Local leaders say the project could generate new jobs and increase economic activity across the Bradley–Kankakee region.
