This project will finance the development of a 120,000 square foot, multi-phased, mixed-use development center located in Minneapolis, MN featuring a 25-meter instructional pool and a workforce development center, including a job training facility and an entrepreneurial incubator space. V3 Sports, Inc. has $23 million in debt and equity commitments to date and phase 1 of the project is underway. The proposed City loan will fund components of this phase that are not-yet contracted this spring. Phase 1 is scheduled to open by mid-2024. Phase 1 includes a 25-meter instructional pool, drop-in childcare, fitness and out-of-school space, hydro-therapy pool, and community gathering space. Phase 2, which includes the 50-meter pool, will begin after fundraising for that phase is complete.