MARION – The Marion City Council Monday night approved an ordinance approving the issuance of Series 2025 STAR Bonds.
These bonds will be used to only pay for project costs for Oasis Powersports and Oasis Family Entertainment Center, Oasis Fieldhouse and Oasis Home Center on the former Illinois Star Centre Mall property.
New incremental sales tax revenue generated within the STAR Bond District, which covers the entire area around the former mall, will repay the issuance of bonds. The bond amount is capped at $125 million.
The bonds are expected to close in mid-May with construction starting immediately after.
The various components of the project are slated for completion and will open over the next 18 to 24 months with the entire development project to be finalized by the first quarter of 2027.
Click here for more details regarding the STAR Bonds and the developments.
