- Good evening, everyone. Welcome. It is 5 o'clock. So let's get started. This is the Redevelopment Commission
- for the city of Bloomington, Indiana for our November 3rd, 2025 meeting. So we'll begin with a roll
- call of commissioners. Lord, Ernst McRobbie present. Randy Cassidy present. John West here. Sam Flinger
- present. C. Scambaleri here. So thank you, and let's go to staff. Anne-Hélène Hansen, hand here.
- Christina Finley, hand. Tammy Caswell, hand. Hannah Dragovich, ESD. Jane Coopersmith, ESD. Justin. Jessica
- McCallan, city controller. Roy Aithen, engineer. Dana Kerr, legal. Great. Did we miss anyone? No. OK.
- Good. Thank you, everyone. First item.
- On the agenda for us to take up is claims registers for October 24, 2025 for 309,170 minutes. Minutes.
- Minutes. My bad. Minutes for October 20, 2025. Are there any additions, corrections, changes? If not,
- may I have a motion to approve? Move for approval. Second. John was on it.
- We don't have anybody online, so we could do a voice vote. All those in favor of approval indicate by
- saying aye. Aye. Any opposed? Thank you. Those are approved. OK, now to claims registers for October
- 24, 2025 for $309,170.65. Are there questions on claims registers? John and then Randy. Page five of seven.
- Pay number 5900, there's two invoices for VET Environmental. Why wouldn't they be paid out of the 4445
- account? Oh, there they are.
- They are paid by what the funding line is on the resolution. Let me look into that while we're discussing
- here. All practical purpose is its infrastructure. Yeah. So we've got other vet invoices out of the
- 4, 4, 4, 5 account.
- And that was my question. Well, you know, I do need to look into this a little bit further. I will say
- that both of those resolutions are for the oversight portion of those projects. They're not necessarily
- remediation exactly. So the first one is S&P. So it's a soil management plan oversight for Jackson Street
- construction.
- And then oversight, yeah, both of those are for the oversight of the Jackson Street construction project,
- two separate bills. But I will look into that. Typically, those bills, though, are paid based on how
- the resolution specifies the funding line. So let me double check that. Maybe we need to be. Where our
- options are pulling that out, if we need to, if we approve the rest of the claims register. What's that?
- When we can approve the payment, it's just
- Which account is being charged to it? I don't have a problem with the payment, so I just would question
- anything like that going to this account. Okay, we need to do a review of the funding line when you
- guys are approving the resolutions to make sure that they match up. Randianne, you said you had the
- same question? Similar question under the 444 account on vet environmental. Which page are you on? Okay,
- well seven of seven.
- And it would be the one, two, and the four, four, four. It's the third account down. It's the, again,
- vet environmental on the contamination cleanup portion of it. And while that's the place for it to be,
- is this finish up that cleanup? Or is there other based upon what our resolution was because? I believe
- that was the final invoice for the contamination cleanup. OK. So with that, now once we get our letter.
- Closure letter, yes. Closure letter.
- Part of the business that you'll see tonight as one of the final resolutions is part of that closure
- process. So the independent closure process. Because the tanks were found, they are requiring some ERC,
- so environmental restrictive covenants. And so we can discuss that a little bit further. But this is,
- we're taking the next step to get back to that. We don't expect additional.
- Billings based upon resolution based upon the contamination. Thank you. The resolution does specify
- the 2519. That was why it was paid out of that. I will say that historically as we've started to look at
- I've done a pretty deep dive into all the resolutions previously and how they're tied to different projects.
- It was very inconsistent whether a funding line was on the resolution or not. One of my initiatives
- this year was to make sure that we're putting the funding line on the resolution so we know how to pay
- it appropriately. So now that those are being plugged back in, I think it's probably a good exercise
- for everyone to just know that they're there. And if you have a dispute with where we're paying it up,
- that's the time to bring it up.
- At the resolution point those funding lines will be usually so many whereas clauses that I'm sure that
- it gets lost sometimes but We are trying to make sure that they're consistently in there Okay, if necessary
- not everything requires Thank you additional questions I'll make a motion to approve second
- It's been moved and seconded. All those in favor indicate by saying aye. Aye. Any opposed? Thank you.
- Those are approved. That brings us to payroll registers for October 17, 2025 in the amount of $56,316.86.
- Are there questions on payroll registers? If not, may I have a motion? I'll move approval of the payroll registers
- The current payroll register. No worries. Is there a second? Moved and seconded. All those in favor
- indicate by saying aye. Aye. Any opposed? Thank you. Those are approved.
- That brings us to reports. Is there a director's report this evening? Sure. I'll give you a brief update.
- So I do want to say thank you to Randy Cassidy, who showed up in the middle of his trip to paradise
- to attend a citizen advisory committee meeting. We had our organizational meetings on October 23rd for
- our CAC, which helped decide what projects the CDBG, Social Service and Physical Improvement,
- funding will go towards. So thank you for being there, Randy. As far as RDC goes for Hopewell, I want
- you to know that I applied for and received a grant from the Community Foundation for our initiatives
- at Hopewell South to the tune of $53,500. So thank you to the Community Foundation for that.
- As far as our changes at Hopewell South, just so you know, these days are in flux, so please know that
- don't hold my feet to the fire on this, but we are targeting the December 2nd Development Review Committee
- for the PUD filing and January 12th for Plan Commission. As far as the Trades District goes, I'm sure
- Jane will update you on the Innovation Week, which is happening next week.
- The trades district garage humidity issue has been resolved to the best of our knowledge. We did do
- the mold sampling that you guys approved, and everything came back in acceptable limits. So I think
- we're good to go as far as that's concerned. And I'm happy to answer any further questions. Have I moved
- it? Not yet.
- I have another meeting with them this week. They have some various federal agencies that they have to
- get approval from, so we're working on it right now. Remind me, was there a possession or rent requirement
- start date? They have and continue to pay rent. Oh, they do? Yeah, but we are likely going to credit
- them back what the dates they've been unable to
- As far as we're concerned, this space is occupable right now. So that's an amendment to the lease? I
- believe so. And Director Coopersmith is working on that as well. And that will come to us? Potentially.
- I think that we have determined that. Do you want to speak to us, Jane? Hi. Hello, Ms. Jane.
- Jane Coopersmith. I am staring at you blankly because I
- didn't think that we needed a lease amendment in order to credit them for the days it wasn't occupied.
- So I think we'll just talk with legal and look over the lease. And if that's needed, we'll bring it
- back to you. Yeah, I'm not certain it wouldn't be needed. While the lease is in progress, it's a glitch
- that has occurred that wasn't anticipated. And so I think that,
- We should bring it back to you to approve that it is okay to credit them because that's an expenditure
- of money, so to speak. But by doing that, I do not believe that there needs to be a lease amendment.
- Well, there certainly needs to be written a record of it. Yeah. And we'll have the resolution of you
- approving that. Last question on that, if I can?
- What it cost us to fix it? To fix it? Oh gosh. We had to install a dehumidifier and then I don't know
- how many service calls that we've had but it was a lot of different various adjustments to make sure
- that the units were no longer short cycling and that we were getting the proper air exchanges. So I
- don't know that we've received all the service calls yet.
- I can't answer that question, but I'm glad to follow that up. But nothing compared to what we initially
- were told. This is good. Can I chime in on that and just call out Director Killian Hansen and our facilities
- director JD Boroff. Their expertise on HVAC systems really did save the Redevelopment Commission significant
- resources and they were able to really navigate some
- I don't know, not questionable advice, but they were able to navigate it well, so. It was a
- tricky circumstance. We designed it for one thing, we ended up with something else. Right. Right size
- your equipment, folks. Always. Additional questions? Question on the community foundation grant,
- the $53,000, what is that to be used for again? It's to be used towards our initiatives
- So the way that we wrote it could be used for any of our outreach sessions with developers or lenders.
- We're doing some training sessions. It can be used for that. It can be used for our work with Flintlock.
- So it's pretty flexible. And we have not determined exactly what we're doing with it. It's coming to
- the Housing and Neighborhood Development Department directly. And so we will definitely put it to good
- use. So it's not something that will come through the RDC? It's not coming into development.
- Does that mean you consider taking some of the resolution dollars out tonight? I don't know about tonight.
- Maybe. I think that their hopes were that it was going to be for community good, so help with the developers,
- with the lenders, just trying to do the trainings would be definitely part of that. It could go towards
- a credit for the book of pre-approved plans that could be transformative for the community. There's
- a number of things
- It could be used. It can be utilized to quickly as possible get dirt moved to people living there. Yeah,
- we're doing the best we can within our own parameters. But at the end of the day, it's subsidizing,
- helping to subsidize that project. Yes. And therefore, it's less RDC. Less RDC money in the long run.
- So it does benefit. It does. Yeah. The community as a whole. Anything else, Hannah? No. OK. Thank you.
- Legal. Dana? I'm here for a bunch of questions, if you have them.
- Any questions for Ligo? Seeing none, let's go on to the Treasurer's Report and the Annual TIF Report.
- Anna, this is, just for the benefit of the public, this is one of the items on the agenda that has seen
- a change in materials very late in the afternoon. That is correct. And Justin, who is from Levy Financial,
- can draw attention to maybe some of the changes if you're not aware of them. Yes.
- Hi, everyone. My name is Justin. Quick introduction. I don't think I've met any of you, but I've actually
- been working with Reedy for five years. I started in 2020 when I was an intern while attending IU. And
- I've been working full time with RFG ever since. Probably haven't seen me much. I was supposed to be
- here at the last meeting, but opportunity leave kept me out of the game. So I'm back this time. Thank you.
- But yes, there's actually quite a bit on the agenda for me, so I'm not going to ramble on too long.
- I'm going to start with the TIP impact. So yes, there were certain changes to the packet. Really, all
- that was updated was because of AIM. It took us a little longer to update the actual financial plan
- itself. And one of the pages of the TIP impact presentation was the financial positions of the
- of the TIF funds for the REC. So really nothing changed other than page four of this, and I will go
- over that with you all as we go. So we can start with this one as we go to the second page for BG reporting
- requirements tab. Just an overview of the TIF impact presentation. It's an annual presentation we have
- to do just to give the public and underlying units an overview.
- of the REC, so many of you might already know quite a lot of the information that I'm about to present,
- but much of this is actually meant for the public and underlying units who are part of the REC every
- single day. So, in terms of reporting departments, there used to be five, there are now six total reporting
- departments. The first four check marks, you'll see they're all completed already. These reporting
- departments are always from April to August.
- The two that are left for us to complete today are the December 1st TIF spending plan, which is a new
- reporting that we will do right after this, and then this current December 31st end-of-year TIF impact
- presentation.
- Next page is inside the RDC, which gives an overview of the TIFFs within the RDC. One item to note here
- is that, because we did consolidate most of our allocation areas, so we just list one Bloomington
- Consolidated Allocation Area and that one North Kinser Pike, that isn't within the consolidated area.
- Why wasn't it included in the consolidation? Not particularly.
- That kid will have more. OK. For the expiration year, really quickly on that, 2029 is the earliest area
- within the consolidated allocation area that expires. It is not the date when the entire area expires.
- So is that a peel-off situation where each TIP area expires where 2029 is the earliest? Yes. That particular
- area, that will fall off
- So that increment in 2029 will go back to the other taxing entities for that piece. Yes. And then we
- have decreasing amounts or decreasing years over that next continuation. Yes. And under the financial
- plan, that will go over what actually has a list of all of the areas that have been consolidated. And
- it'll show which ones will follow up the soonest. In page 125, the consolidated TIP area has had $1.1
- billion in criminal AB. And North Windsor PAC
- Pike had 4.9. Now this is all the information that we're required to present, but for the RDC, just
- a little informational. We don't get abstract till March of 2026, but we did finish the neutralization.
- So just a heads up, we're looking at about $1.4 billion in incremental AD for the Bloomington Consolidated
- Allocation Area and 6.9 for North Kinser Pike. So in terms of revenue,
- in for a consolidated that's from 20 million to 24 million and eighty four thousand to a hundred and
- nineteen hundred and twenty thousand dollars. So just information for the RECD and that'll be part of
- the financial plan later as well. The next page is the financial question for Jessica and I'm not trying
- just where we allocated looking for things on North Kins or Pike because that tip is going to close
- out by this then
- being proactively and ahead of that, is that something that gives Anna, Roy, and them the ability to
- start looking from a dollar amount because they're that tough out? Yes. That information gives us good
- information for how much revenue we're going to get next year. Yeah, because next year will be the end
- of that North Kinser Pike tip. So if we're going to do something. We take our cash balance we have now,
- plan on getting that, and we know our project size. That gives us the ability to determine our project
- size. OK, thank you.
- Next page is the financial positions page. That is the tab that I had to update, really. This is it.
- Because we weren't sure what the expenditures were until later last week. So we really, the expenditures
- in any of your bonds was zeroed out when we initially sent this out for review. Obviously, we have numbers
- in here now. For Bloomington Consolidated, we started the year. I don't have numbers. Yeah, mine's still
- showing. Mine's still showing.
- dollar and yellow dollar and all dots. Mine is showing that. So I did print out our copies. Could we
- ensure that those get updated in the packet too? I do apologize for that. We sent out two.
- Can you have this afternoon so that? Oh, don't worry. You'll get the blame. It's OK. But we appreciate
- that you got it done. Hopefully next time I'll get it done soon. So that will be up with page four or
- five, right after the inside the RDC page. OK. Perfect. OK.
- Keep in mind, these are projections for what will happen at the end of the year, so this is not where
- we currently stand. For the Bloomin' Teen Consolidated Area, we're starting at $17.2 million. We expect
- about $25.4 million in revenue. Keep in mind, that's not all TIF revenues. That includes interest. I
- know we had a land sale in February or March. That's included in there as well. TIF revenues accounts for
- projected for about roughly 19 to 20 million dollars of that 25 million dollars. Expenditures we're
- looking at 16.3 and we're looking to end the year at 26.2 million dollars so about a 9 million dollar
- increase in cash balance for the consolidated TIF. For North Kinser Pike we started at 648 thousand dollars
- expecting about $111,000 with $350,000 in expenditure, looking to spend that down to $410,000. And that
- is the allocation area that will expire next year. So if we were to look project-wise, projection-wise,
- we don't know until the settlement comes through, which will be March. Abstract, yes. Abstract. OK.
- We could look at potentially around $400,000 for a project.
- $410,000 plus about $120,000 for next year in 2026. Because we will have that time frame before it expires.
- When we're looking at it, I'm just trying to get an idea.
- the individuals that are starting to identify the projects for that area. Essentially, they got around
- half a million bucks to look from a project standpoint. Just roughly about half of them. And a question
- about this, too. Whatever project we undertake, does it have to be completed by the end of the fiscal
- year? Or does the money simply have to be allocated, the project underway? Does anything carry over
- into 27 if it has already been voted on, allocated,
- intended or does all the money have to actually leave the account by the end of the fiscal year? So
- I will say we've never actually seen a TIF allocation area expire. This will be the first,
- so congratulations. This will be the first year due to the extension of the legacy TIF and all that.
- So to answer your question, we're not really sure. We're always talking illegal about issues like this,
- and sometimes they change their minds.
- Good question, though. Yes, that's a really good question. We'll definitely keep it out. I thought that
- we were told previously that the money didn't expire. It's just that you're not collecting any additional
- revenue. So we would have that funding to be able to put towards the project. Yeah, exactly. Yeah,
- so in fact, that's so much of what we had to hear more.
- I think so. It couldn't just sit there, even though we weren't collecting more. It had to be earmarked,
- but not spent. Yes. It'll still need to be part of the spending plan, because that is TIP dollars that
- there's no allocation anymore. I wouldn't have to include it in the TIP impact, because there would
- be no impact. All that would have gone to the basing is. It's already been collected. Yes. The next
- page is the How TIP Work page is that chart.
- This is an informal page essentially letting y'all know how we collect incremental AV. I'm sure you
- guys have seen this many a times, but it's just... We have, but would you mind just kind of quickly
- going through it, because we have the public that may not quite understand it. You're an expert on it.
- So when we establish a tip, let's say a cornfield, we're going to tip a single parcel list. Let's say
- the cornfield has
- $100,000 in AV at the time we that tipped this parcel list. That $100,000 of NAB will go to the base,
- which is that green at the bottom over there that you see, the base AV. That will stay with the underlying
- units. So the county, the city, library, schools, it'll stay with all of them. And then let's say that
- core field gets demolished and then we put in a bank. The incremental AV of that bank or a hotel, whatever
- we put in there,
- let's say it becomes $20 million. That $20 million will now go to the TIF. The $100,000 will stay with
- the underlying units. The TIF will receive what is built on top of the cornfield that we use as our
- example. And that will be that turquoise color, what we call incremental AV versus the incremental
- assess value that comes in due to using the TIP. And for the benefit of the public, AB is? Assess values.
- Thank you. It's just what assessors will say. That is how much your home is worth or how much this property
- is worth. And currently, the law is there's no expiration if there's no bonds. That doesn't apply to
- Bloomington because all allocation areas are placed to a bond. But the rule, the law is once
- a TIF is a plus to the repayment of a bond, then a 25-year clock starts, which is that North Kinser
- Pike that will expire in 2026. Once it expires, all that base, so let's say that $20 million for that
- Banco Hotel, that will all go towards the base units assessed values. So it will no longer be part of
- the TIF. So the revenue that typically would go into TIF would go to the school corporation, the libraries,
- and the other
- taxing units? Yes, that goes into the impact that will go with that. That will be part of the... Yes,
- yes, yes. So the next page is a TIF impact questions page. This is to set up the next page because the
- next couple of pages are a lot of numbers. Essentially what the TIF impact is, it's saying if we were
- to not TIF and the development was to come
- Anyways, which normally is not the case, right? Normally we have to do some sort of incentive for these
- developments to happen. But we're saying, what if, what if we don't do it, don't do any incentives and
- they still come anyways? That's number one. And number two is Indiana is a levy based state, meaning
- the city's general fund.
- that levy is the same regardless of what happens to assessed value. So even if assessed values goes
- up, that levy stays the same, what will change the tax rate? What we're saying is, okay, what if the
- tax rate stays the same and the levy is what changes, which again, does not happen in Indiana unless
- it's like CCD fund. So this is a hypothetical scenario of what could potentially happen.
- So on the next slide is the TIFF impact chart, which is the impact of the TIFF on the underlying units.
- That blue section in the middle is what the impact really is. And if we look at, these are all on the
- left, these are all the overlapping units of the TIFF, so which the units are that have assessed values
- in those parcels within the TIFF. You'll see that circle breaker impact, that's essentially what
- If that AV was to go to the base, what would be the reduction in circuit breaker? Because that's essentially
- what would happen. Levee would not move. What would circuit breaker be reduced by? And keep in mind
- that this is a very, very conservative approach that we're doing to this calculation. The impact is
- really way less than what we're seeing here. But we don't do a parcel by parcel analysis when we look
- at this. We look at the overall.
- taxing district's tax rate, and we apply a circuit breaker impact to that. With that said, we can see
- the largest impact is actually to the city itself. The circuit breaker impact, we'll go into the regional
- funds later, but the circuit breaker impact is at $75,000. So that's a very minimal number if we look
- at that $20.3 million that the RDC is expecting to collect.
- That number goes down. Bloomington, Civil City goes down from Monroe County, the school, and then all
- the townships that we have. So each unit could look at their impact. But the idea is these are really,
- really low impacts. The reason is because we're in a relatively lower tax rate environment here in Monroe
- County. Were there any questions? OK. That's surprising. Yes. At least on property taxes being due next
- week. Yes.
- So, right next to Circuit Breaker Impact, that's a rate-driven fund impact. That's essentially, so the
- city and the county, we have what we call cumulative funds. Essentially, these are funds that actually
- have the rates stay the same. So the CCD cap that 5 cents for the city, that stays the same. So if the
- AV of the TIF was to go into the base, so for the city, we will actually collect on all of that.
- and that will be a $534,000 impact. What that means is for the city of Bloomington, even though we add
- those two numbers up, the 75,000 and the 534, the total impact is about $610,000, but the actual increase
- in levy that the city would have seen would be that $534,000. So again, very minimal and
- Compare that to the $20.3 million that is a relatively small amount. And to the right, just to show
- really what it means in terms of budget, that impact for the city of Bloomington, it's less than about
- half a percent of the city's overall 2025 budget, that 0.49. And again, that's the highest impact of
- all the units. The next up will be Monroe County at 50.54%.
- And then it drops all the way down to 0.12. So very minimal impact for most of the units. Are there
- any questions on this page? So just verifying on the levy basis, each governmental entity, then we're
- talking civil city and Monroe County, the only thing this would do if it was all gone away is lower
- the tax rate.
- Yes, correct. Lower the circuit breaker. Except for the city and the county, though, we actually see
- a little bit of gain from cumulative funds, because those are rate-driven funds. The rate stays the
- same, and the levy will go up. Irregardless. Now, does that rate have the ability to be changed and
- go up, or is that? We're at the max. They're at the max right now? Yep. Those funds do have our max
- in statute, and we are at the max. We're at the maximum now. OK. Yes. Sam, do you have any questions
- from the MCCSE perspective?
- No, I don't think so. I want to make sure I take this back and show it to RCFO though. So the next page
- is TIF Impact Explained. It's really that previous slide, but instead of all the numbers for the TIF
- as a whole, we have this term we call the TIF margin, which means for every $1 that the TIF receives,
- how much of it
- was due to the city's utilization of the TIF and how much of it would have gone to underlying units
- in terms of circuit breaker impact and ray joint funds, so the CCD fund impact. So 94 cents margin needs
- for every dollar, 94 cents was because we used the TIF. Six cents would have gone to the underlying
- units as an impact. As a whole, $20.3 million is expected to be received in 2025.
- $19.1 million of that is because we use the TIF, and 1.1 would have been shared across all the units
- if we did not utilize the TIF. So that concludes the TIF impact presentations. Are there any questions?
- How do we compare to the rest of the state and what you guys do? 94 is probably the best that I've seen,
- and that's
- Jokes aside, that is really probably the best I've seen. The closest would be 80 something. But again,
- since we are in a relatively lower, we're in a lower tax rate environment plus there are certain, there
- are communities with lower tax rates. So say Noblesville, for example, they have lower tax rates, but
- so much of their assessed value is in the one and two percent bucket that
- They're still at the tax camp, right? So there's still a lot of impact to the 1% and 2% bucket. That's
- not the case for Bloomington. We have a lot in the 3%. So that gives us a really, really good tip margin.
- Just for the generalization of everybody, what is the 1%, 2%, 3%? So 1% is residential and homestead.
- So the homes we live in, 2% are what we
- Agricultural land, that's 2%. If they're apartments, that would count as 2%, even though that's almost
- like residential, but apartments would count as 2%. 3% is really everything else. It's commercial, so
- we'll think about a Target, a Walmart, anything that's useful commercial purposes. Any retail,
- that'd be 3%. And then personal property, so that would be property, plants, and equipment that are
- used by businesses. Those would count as 3% as well.
- So that would go under the 3% budget. All right. So we have completed one of our last two requirements
- for the year, HRDC. You've gotten the TIF impact update. And there isn't anything that I have to do
- about that. But we do have to do something for the next part. So we're going to present this.
- To you for the first time, but we're not asking you to vote on this tonight. Is that correct? Yes We're
- not asking for a vote on this tonight. We'll be on your agenda again As the spending plan asking for
- a vote with a resolution at the next meeting so any questions you have or think of between Now and like
- a week from now, please send to us so that we can work on them for this But no later
- I feel like I need to get you a bottle of water, but are you doing okay? I'm okay. Thank you. Thanks
- for asking. I'm okay. Okay. I think if everyone's ready, we can move on to the draft spending plan.
- Yes. And you're good with what he just presented. Oh, yeah. Yeah, it's great. Yes. Very good. Very good.
- Yes, it all makes sense. Okay.
- One of two spending requirements done. The next one is the tip spending claim. I'll try to... Okay,
- so we have the financial update up. I will present this with the financial update because they are very
- much linked together. Since we have the financial update up over there, I'll start with that. Before
- you start, do you have printouts of this that I should pass out? Are they in here? The update? I do.
- I will do that too. Do they need the spending claim as well?
- So the plan is, I don't have all of the plan. I only have a few. The plan didn't change, did it? The
- spending plan did not change, so what's on there should be. Well, Jessica's passed it out. So this is
- the RDC tip spending plan that we keep.
- for the RDC. It's not really in a reporting requirement, even though a lot of the information here is
- used on our reporting requirements. Really what this is for is for the RDC to see where they stand on
- a quarterly basis, financially. What dollars have they spent? How much are they receiving in revenues?
- And how are we expecting the end of year cash balance to be? And if we have any new projects, will it
- always include that in the plan to see okay let's say we have a three million dollar project next year
- well how will that impact our bottom line and it includes any any debts that the RDC has so again this
- isn't really a spending plan but a lot of this is used on the reporting requirements so we go to is
- that page four okay page four so that is the that is the RDC overview tab that shows all the
- That shows all of the areas that are in the consolidated tip allocation area when the assessment dates
- are and when they are expected to expire. When we look at this, one of the reasons we want to do this
- is so we can effectively plan for the future and know what revenues are coming off.
- It's not really a problem as much for Bloomington, but we have another client where they have, similar
- to North Kinser Pipe, they have an allocation area that's expiring. In their scenario, instead of $100,000,
- it's $1.4 million that's expiring, and they collect a total of $1.8 million.
- So that's why a page like this is really important. And we try to work with legal on this, because legal
- are the ones that provides us their opinion on what the type of explorations are. And we just keep it
- on track here for you all to see. The next few pages are the claims pages, which I'm not going to go
- too far into, because there's three pages and there are a bunch of claims. But the reason we kept it
- there, we included this time around, is because we were asked to include 2519.
- Fund number 2519, and then we just wanted to show all of their shins actions this time around. Yes.
- 2519, that's the 444 replacement. It's the RDC property management fund. Yes. You're correct. I can't
- remember what its old number is. Oh, it is that number? It was 444. I just wanted to clarify the 25.
- That's how we all know it. OK. OK. Old numbers. Yeah, that change really messed a lot
- We kind of memorize from all of our clients. Yes, but in the future, we will probably exclude all of
- these 2519s and we'll just include the TIF consolidated fund transactions for you all. I'm good with
- this. If you would like to see this, we can do that. It's a push book for you. Either way. It never
- hurts to have more information that way you can always look. Okay, perfect. We'll make sure to do that.
- And then we go to page eight.
- Eight, nine, and 10, they're all the monthly balance by fund tabs. This is where we, as we update the
- plans, we make sure we allocate the funds to where they're expected to be, to when they're expected
- to be spent and when they're expected to be received. For Bloomington RDC's case, this is helpful, but
- it's a little different because we have certain units where they may go negative in May, but they don't see that.
- unless they see a page like this, because they'll say, oh, we're going to get June settlement, so we're
- going to have that money. But they might go negative in April or May, and they don't know that. But
- in the case of low-income RDC, that's really not an issue. But in this tab, we keep track of when we
- expect revenues to come in. So that's why you'll see June and December revenue projections,
- that 10 million, 10.1 in June and 9.4 in December. That's higher, because that's when settlement comes in.
- And debt payments, you'll see that staggered all over the place because that payments are paid at different
- times. That $3.9 million in September, we transferred a lot of money to another fund to pay those debt
- payments. That doesn't mean we actually paid them just yet. It just means we transfer that money and
- then they're ready to pay. That's for our bond funds. Yes, debt service funds, yes. The next page is
- a North Kinser Pike allocation area.
- Um, it's similar situation, similar situation here, right? Um, we expect this fund to expire in 2026.
- One area that we actually did not update on this is that we were not sure if we were going to ex we're
- supposed to receive North concern pikes to revenues next year. So we did not include it in the monthly
- cash bonds by fund because at the time we weren't sure until neutralizations were done in August.
- But now we neutralize, we've gotten our parcel list. It looks like, yes, we will be receiving those.
- So that will be added to this tab. And the next tab is Fund 2519. It's that property fund.
- For this tab, this is new. We don't track a lot of these. If there's anything specific you guys all
- would like to see,
- And there's the actual fun cut that you'll see later. But if that's something you guys like, anything
- you guys like to see, please let us know and we can add them in at any time. So fun number 4445, this
- is the big one. I'm not gonna go through every single number in here, but a few big ticket items.
- That 5.2 million dollars you see up top, that's highlighted in blue. About four and a half million of
- that makes up
- our land sale proceeds, so that's why it drops to a million dollars next year. We're not, unless we're
- expecting to sell another four and a half million dollars of land, we drop that to a million dollars
- next year. And then for TIF revenue collections, you'll see we had 19.2 this year, that goes up to 24.1
- in 26 and 27.
- That's due to the incremental AV jump. We don't know what will happen in 2027. Maybe SB1 will have a
- large impact and the revenues will drop. Or like this year, gross AVs go up so much that SB1 was almost
- a non-factor. That's my question regarding how SB1 is going to impact our TIF funds in the next three
- year period. I know you can't say exactly, but an idea because we plan expenditures.
- The easy answer is yes, right? Because with deductions coming in, it is expected to happen. But this
- is more of a little bit of an accessory question because we've seen gross AVs grow by so much that the
- new deductions by SB1 didn't really do anything this year. So that's 6%, 2% deduction for 2%. So apartments
- and agriculture, that really didn't do a whole lot.
- And we'll have to look into it. We'll have to see what makes up for Bloomington RDC's assessed values.
- Yes, there is not a whole lot of personal property. So that exemption for personal property jumped from
- $80,000 to $2 million. That will have no effect on Bloomington RDC. That might have effect on others,
- but not for Bloomington. I'll have to check on how much of Bloomington RDC's AVs are 2%.
- because that increase in deductions might have an effect. We currently do not have a residential TIF,
- so all of that change in deduction of credits will have absolutely no effect to us. So to answer your
- question, I don't think there will be a whole lot, but easy answer is really yes if gross AV stack needs.
- And in the future, if we decide to do a residential TIF in order to increase some residential, will
- that residential TIF, if we calculate it now, it would be X,
- your basis of what I'm understanding is that it would be lower based upon what the SB1 is doing.
- So no, because we know what SB1 is going to do, but we've had residential TIFFs where we started in
- 23 and 24 and then we go into 25 and we have to change the entire economic development agreement.
- because new credits came in, new deductions came in. So we had to recompute what our revenues would
- be. But since we already know what the deductions and credits are from SB1, we will incorporate that
- into all of our analysis. So our expectations should not change because of SB1. SB1 will not impact
- something that we're potentially going to put in. Yes, correct. So we'll know what our revenues are
- projection-wise, so any bondable projects would have a cash flow stream.
- Yes, correct. Thank you. Okay, so we won't do that. Jessica might want to chime in a little bit on this
- part, but if you look for 2026 under that debt payments, that blue big box, there is an estimated, three
- estimated, a summit debt, a police debt, and HOPAL bonds. Those are not for certain yet.
- but those are projects that we're working on with Jessica and Anna and Dana. But we included them in
- there just to see what the cash flow would be like if we were to issue these bonds next year. So a caveat
- on that. That's perfect. I don't have anything else to add. Yeah, those are potential projects. You
- guys know that we are working on them, and we've done the math, and that's what the potential debt service
- payment would be.
- That'd be the debt service payment on each one, but we don't know exactly how much the total that would
- be. We're just making the assumption that we'd make a $1.2, $1.4, and $1.9 million. It's just an assumption
- that can change to anything. It could be none of those projects. It could be two. But if we added debt
- to our cash flow, if we added debt service to our cash flow, and the amount of that total amount is,
- oh, god, where are we at? 1, 2, 3, 4, like $5 million.
- cash flow looks really good. Cash flow is still good, and then it's just a matter of what the total
- overall cost is and then what the total overall bond interest rate is that we calculate through that
- would throw us back down on our cash flow. Those numbers are actually based on analysis that we've done.
- We didn't pull these numbers out.
- numbers and just put them in there. This is based on actual bonds analysis using coverage calculations
- with the RDCs. What is our coverage ratio that we typically go for? Is that a 1.1, 1.2? So it depends
- on the bonds. Currently, we need to maintain a 1.25, but we're way above that right now. We're still
- trying to keep it above 1.5.
- But we try to keep it above 1.5, but we can go down to 1.25. Being conservative, we've got a 1.5 coverage,
- and the requirement would be approximately 1.3. So on the cash flow side, if you see right under 4,
- 2026 at the very bottom just above that green row, you see that 224%. That's the pass-through calculation.
- So what that means is every June we have to do a TIP pass-through report requirements, which I'm sure
- you all have done many times. That's actually supposed to be under 200%. What that means is we're going
- to have to look at some more potential projects for the RDC to get that number lower.
- So he's saying we need to spend money. Yes, he's telling us to spend money. Now, is that state statute
- or is that just state statute? State statute. State statute says get yourself under 200%. Yes, or they
- take away your money. Or we have to pass it through to them. Pass through the others? Yes, pass it through.
- OK, so right now we've got 24%. Pass it down. Yes, and the tube 24 is taking that 24 million in TIF
- revenues divided by that 11.6 in total spending.
- So it doesn't include the interest that we receive and any state grants that comes in. The next tab
- is the North King's Pike Allocation Area. There hasn't been a whole lot of conversation between Jessica
- and our group about this fund, but we will make sure this gets updated as we go. Right now it's the
- Cascades Trail, but again, we'll make sure this
- And we'll try to spend the money here as quickly as possible, I guess, to make sure right after the
- tip expires. Next tab is that 2519 tab fund, which is the properties fund. It includes interest revenue
- and lease revenue that has all the expenditures that the REC pays.
- for out of this fund. And again, because this isn't something that we track for all RDC, so if there's
- anything specific you'd like to see here, we can add in certainly. Only item for me to know is that
- $4.5 million in inter-fund transfer. That is the exact same increase in Fund 4445, because that's where
- it was transferred from and transferred to. So it's not a real expense for this fund itself. It's just
- a transfer.
- to another fund of the REC. If I'm reading this right, we're deficit spending. We just happen to have
- enough cash to cover it. Correct, correct. Next up is the debt overview. We use this to do the April
- reporting requirement, which requires debt information as well. But it's essentially all the bonds and leases,
- RDC is paying, when they mature, how much of it is outstanding, and how much we've paid in this year.
- So informational, we don't really need it at every meeting, but we keep track of it as the year goes.
- So that's the financial plan. Are there any questions for me?
- What are you doing in your spare time? This is my spare time. Oh yes, my baby. That's my baby. Yeah,
- yeah, yeah. Oh yeah, they're babies. I know spare time. I'm assuming you lost a lot of sleep last night.
- We're going through sleep regression right now. I'm grateful my wife takes care of that because I won't
- be able to wake up. I'll get no sleep if I have to take care of the baby at 4 a.m. as well. So the next,
- the final one, I promise, is the TIF spending plan. This is the last point requirement. And I say this
- follows the financial plan because the expenditures that is on the TIF spending plan
- based off loosely on the financial plan. The first half is just a letterhead because this is supposed
- to go to the mayor, the city council, and the DLGF so we make it professional for RDC. We'll upload
- this on Gateway after it is signed by the RDC next meeting. When we go to the next page, that's the
- actual spending plan. It's this, yes.
- We don't have it. It's actually in, I think, a different version of the packet. I think the first final
- version of it. I don't see it in the second version of the packet. I have two extra copies of this.
- I'm seeing it on page 29. I think it's a new packet. It's in the old packet. It's in the original packet.
- That's true. I have it on page 29, too.
- That's page 29 right there. You guys have the old packet open, so you should be good. Now I don't know
- what you're talking about. I'm going to look and see if you're on the right thing. All right, yeah,
- that's page 29 in the new packet. Yes. Yeah, you got it. You got it. Page 29. You're too slow. I don't
- think Sue has it. You're good? I'm good. OK. Do you have numbers? You don't have any pages? No, no.
- There you go. OK, you got it. Good. Perfect.
- Apologies for the confusion. Again, this first page is just a letterhead to the City Council Mayor when
- we send this to the DLGF, when we upload it to the DLGF, just saying this is the 2026 tip spending plan.
- If you go to the second page, which is the green bar up top, that's what the actual spending plan is.
- This is a new report, new reporting requirement. There's two ways that we really could go about it.
- The number one way is be conservative and put lower numbers in here. As we spend, we update the spending
- plan, but updating the spending plan isn't just putting new numbers in. We have to pass a new resolution.
- We have to upload the gateway again, provides a mayor and city council. So that's why we go with the
- different approach, which we say we let's,
- put larger numbers in here, add a buffer so the RDC can spend money out of the fund without having me
- to come here and do another 40 minute presentation again. So for your benefit, we try to do it one time.
- Now, for most of these expenditures, they tie with what is in the financial plan with a 15% buffer.
- For example, for the debt payments, that $12.8 million, that's what's in the plan, including the Summit,
- HOPL, and police bonds. The 15% buffer, just in case, what if we have to issue the bond interest rate
- goes up? Again, this is to avoid having to do all this paperwork again. We added a 15% buffer. The larger
- increase would be that capital expenditure, because the capital expenditure currently is a little lower.
- And for the consolidated TIF, we just
- beef those numbers up just to give the RDC the same flexibility that we would have had if not for this
- reporting, this new reporting requirement, right? So, this is the spending fund that we'll upload to
- the DLGF. This includes all of our TIFFs, excluding 2519, so it does not include the lease, the properties,
- because that is intently part of
- the RDC's TIF collections. Question. Yes. I get professional expenses. What would be an example of an
- operating expense? So operating would be there's, and most of the time this is very narrow because most
- RDC's aren't actually able to spend on a lot of operating. But certain would like, let's say we have
- a client that has a park
- a park that they help maintain. So every year they would transfer about $100,000 to help with the operating
- expenses of the park. So that's what that would be. There is no actual operating expenses that we are
- projecting in the financial plan to say. So that is a number that we put in there just in case there
- is anything.
- Wouldn't our operation of the Busker at Jumley, what we contribute to that, would that not come out
- of the operating? I like it better out of, do we have anything in grants and contributions? There's
- nothing in there. There's nothing in there? I like that you thought of that expense. We could pull that
- out in grants and contributions, because we don't care what they do with it. It could be operating or
- capital. We just call it a grant.
- doesn't restrict it? I'm not suggesting a change. I was just trying to find an example. Oh. What do
- you think about giving money to another organization that's not the city to do? So it depends on what
- the money is for. Like, yes, we could put it in grants definitely. That's not really a problem for us
- to do. We normally put it in capital expenditures because most of those are done for capital
- So that's why we put it in there. But if there is any that we know that we're giving out in grants,
- we could put those dollar amounts under grants and contributions. It's kind of like, it is operating
- support. If I read this right, you've currently got 150,000 in operating expenses, correct? Yes. And
- that's just kind of a swag number, just a placeholder. Yes, it's a placeholder. We do see,
- So the reason is we do see quite a few of our clients spend a little bit every year on operating. So
- we add a little bit to it. Not saying you have to. Again, I want to specify, this doesn't obligate the
- RDC to spend. It just allows for the RDC to spend these dollars. All right, so back to my original question.
- The plus group channeling then actually is capital expenditure because there's nothing under grants
- and contributions. Yes. So that's the shift you might tend to make.
- Wouldn't that give more flexibility in regards to what they utilize it for? Because when we say capital
- expenditures in that line, that's a typical situation it would be. It wouldn't be operating costs. Right.
- OK. Yeah, we would go up to that. OK. I have a question on the other anticipated expenditure. It's not
- a round number, let's say, is it, a percentage? So it is a round number, and then we add a 15% to it.
- So that's why it makes it a non-round number.
- So I believe that is $55,000. So we add 15% to 55, that gets us to 56. Again, it's like so much of like
- the payments, we add a little bit to it just so we don't run low. All of it actually, we have that for
- most of these, even professional expenses we have. I believe that's actually 60,000. Just a question.
- And when we're looking at this total overall spending plan, we tie it back to page 11 on your financials
- for your capital expenditures while we're looking forward. Yes, but no. And generally, yes, but because
- we still have a lot of capital expenditures that we're planning for. So that's why that number
- is significantly higher. But again, it doesn't obligate us to spend it.
- thing we're looking at would be our three potential debt payments, which would be the million,
- million four, and million nine. And cash and a lot of extra cash for capital not related to debt service.
- Not related to debt service or utilization of cash. Yep, exactly. That we have or utilizing. So the
- capital expenditure number, the $12.8 million, well, $12.873, that is
- potential capital expenditures and then the debt service payments for all of our current debt and the
- potential of other debt projects is in the first 12.8 million, 12.832. That includes the other potential
- debt we may incur. So to ask the question, I don't want to get ahead of myself because it may have to
- change. Of those three expenditures we're talking about,
- What is the approximate amount we're calculating now to calculate the debt service on them? The project
- size? Where it says, where are we going? Summit, police, HOFA. These are all speculative. Yeah,
- it's all. And we do not have a dollar amount tied to them. We're just calculating a debt service in
- order to verify. OK. Yes. That works. Yes. So that's the spending plan itself.
- If there are any questions, we can make any changes. And then we do have to pass the spending plan and
- sign the resolution by December 1st and then have that uploaded and provided to the Mayor and City Council.
- Any changes, any questions, we're happy to answer. But yes, or we do have a December 1st. I have a question
- about the 200%. Yes, the password. Are we in danger?
- I can't remember when in the calendar we have to declare that. I think it was earlier this year in September.
- Are we in danger of not passing that test this year or next year? No. So we did it in June for 2025.
- For 2026, we'll do it June of 2026. So we have nine months, seven months to do it. Quite a bit of time.
- Yeah, but quite a bit of money, so. Yeah. And remind me what exactly the 24% is that needs to be spent.
- 200. I know it's 224, but the difference to 200. So the 24%. What is the dollar amount that correlates
- with that? Oh, you're testing my math. 24.1 divided by 2, 12. So we're looking at $1.5, $2 million maybe.
- We can spend that. Just kidding. Just spend three, just to be sure. Exactly. Why don't we collect more,
- you know? Just to make sure we're under 200%. I guess. But yes. Those are my presentations. Good job.
- Thank you, Joseph. So coming at you at the next meeting. We have any changes, please?
- Thank you. Congratulations. Can I have a business development update?
- Two PSA innovation week is actually this week and it starts tomorrow with a day of health tech and innovation
- programming and culminates on Friday with the block party. So we really hope to see the public and especially
- members of our redevelopment commission there on Friday from five to eight. That was my first PSA and
- second PSA.
- which really is for the record for the public and also for our commissioners. The college and Walnut
- study is being put in front of the public for public feedback. And there's a really great website from
- our planning department where the public can review the proposals and complete a survey to make their
- feelings known about the project. It's really essential that we have good public feedback on that.
- Thank you. And that website is?
- I don't, if you Google College and Walnut Study Bloomington, it pops right up. Thanks. Good question,
- Jackie. Yep. Since we're in ASD, our hotel and everything moving forward here? Yes, they'll be going
- to the first Plan Commission meeting in January. I don't know the date offhand. They're going to BZA
- this month, and so they are targeting the January Plan Commission. It all goes according to plan, yeah.
- Thanks. I'm excited to be the guy that follows the guy who tells Jeannie to spend a bunch of money.
- Good evening, Commissioners. My name is John Zote. I'm the Executive Director of CDFI Friendly Bloomington,
- and I want to introduce Emma Yoder. Emma joined us in July as our program coordinator, so hired a second
- staff position this year. We're glad to provide our annual update to you, which will be quick.
- about what we do. We have some new faces. So Mr. Kern, Mr. Fleener, you weren't here last year when
- I presented, so I'm glad to share some updates with you on who we are and what we do. So what are CDFIs?
- Part of our process is to always educate the public on what our organization does and what CDFIs do.
- CDFIs are community development financial institutions that are mission-based lenders.
- They are dedicated to that type of lending to fill gaps in financing for people in places that were
- previously sort of locked out of the financing process. So we all know of banks. We work with banks.
- They hold our money. We partner with banks to try to make that process of financing a little more seamless.
- So if someone is told no from a bank for a mortgage or a loan for a housing project or for their small
- business, there are times where a CDFI can step in and be that
- that lender to the potential borrower who may not have the same financial background or may not have
- generational wealth in place, or it may just be a complicated project that can be filled from an alternative
- lender. And so we want people to try to avoid putting things in high interest debt. So credit cards,
- lenders that really can get money quickly but might charge a pretty high interest rate.
- The CDFI lending community, which is about 60 years old, is a $500 billion sector of lending across
- the United States. Those are the network of CDFIs that exist in every state and in our territories across
- the United States. Move ahead there. So what does the friendly mean in our name? Because there are so
- many CDFIs across the country, 1,400 organizations are certified by the US Treasury.
- as a CDFI, Community Development Financial Institution. But there are places in the country where they
- are not really present and have not been historically. And that has been in Indiana.
- And so our job when CDFI Family Bloomington was created back in 2018, 2017, 2018 was to help fill that
- gap here in the South Central part of Indiana. So we served 13 counties to try to bring CDFI financing,
- that sector of financing that wasn't previously here for all intents and purposes. It was here, but
- not in a robust way. Try to bring that financing into this part of the state to fill those gaps and
- to get more community development projects, more businesses, more jobs created.
- so that we can see a higher level of impact from community development. So you can kind of call us a
- matchmaker. Our job, mine and Emma's, and our board is to identify those projects on the ground, help
- provide technical assistance in what their financing needs might be, and then to go to our network of
- potential lenders to say, hey, there's this cool community development project or business in our part
- of the state, come talk to us, come talk to the potential borrower, and let's get a deal done.
- Move ahead there.
- So far, just to talk about our impact as an organization, we were formed in 2018, so we're about seven
- years old. Our big piece of our job is to provide technical assistance to potential projects. So far
- this year, we've done about 235 hours of technical assistance to projects in Bloomington and in our
- region. It's important for this body that we tell you that about 62% of that has been within the city
- of Bloomington. Bloomington, as I don't have to tell this group, is a very active place. A lot of projects,
- a lot of ideas, a lot of potential in the pipeline for
- housing and small business and actually in the child care world there's a lot going on there and so
- but most of what we've been doing in Bloomington is is is housing related and so a large percentage
- of our activity has been here within the city. It's a little bit of both so technical assistance might
- be anything from
- Here's what loans can do. Here are the different types of financing to here is your project budget.
- Let's look through it and talk about it and just be another set of eyes. If it's an individual who wants
- to start a business, it's have you talked to the Small Business Development Center and just sort of
- bridging those gaps and connecting dots to make sure they've talked to the right people. So it's a good
- question, Commissioner.
- So just to put a little finer point on what I told you earlier about the sector of financing from CDFI
- is not always being present here in Indiana. So if you look at the CDFI lending industry for the last
- 50 years, there's been a lot of money.
- invested and loaned and borrowed. In the first part of this century, if you will, from 2005 to 2022,
- which is a data set that the Treasury puts out, why those years are a little bit unique. If you spread
- all that CDFI loan money across each resident in the United States, you'd get about $714 per capita.
- During that same time in Indiana, that number drops to $169.
- In the region we live in, in our 13 counties, that number was $22 during that time period. So we were
- trying to close that gap. We were trying to get more people in this region to have access to financing.
- It doesn't always have to be from CDFIs. This is a CDFI number that we track.
- You can see that there's a disparity, a lack of access to credit, a lack of access to different types
- of financing, because in rural areas especially, which most of our region is, financing and the resources
- that are there are not always present. That just gives you a little bit more of how they play out here,
- statewide, and nationally.
- There is a map. You can go to cdfifriendlyamerica.org, and there's a map that will identify every place
- in the United States, every congressional district, every state legislative district, every county.
- It will tell you what that per capita number is. So there are CDFI, what we call deserts around the
- country, and why it's important to fill those gaps of access to financing. Sure. And maybe this is later,
- but going back to 2018 when CDFI Friendly Bloomington started,
- Do you know what the corresponding number was? In other words, have you made that number go up? We have.
- That number right now is in the $50 per head range, so it's gone up.
- So we're working to get that up there. Not close to 714 yet, but we're getting there. So this is just
- sort of some more numbers on our impact. So since our creation, so since 2018, we've been able to help
- facilitate about $26 million in additional CDFI investment here in the region. Most of that's been in
- Bloomington.
- for total projects at about $57 million. So that $26 million was a piece of the larger project scope,
- which impacted about 370 housing units that were created or retained. Vast majority of that is in Bloomington
- or Ellensville. So yeah, because we've had some big developments here and early in our existence, we
- worked mostly in Bloomington and then
- Got over to Ellensville a little bit. This year we were, there's been a lot of CDFI investment that's
- going to be part of the new low income housing tax credit project in Ligoti, which is going to be a
- 50 unit affordable housing building with a child care attached to it. So that's a lot of the CDFI. Well,
- you're going to get us success stories here in a minute. Yeah, we'll get to one that you guys learned
- about last year a little bit.
- just want to say thanks this this body gave us money to loan money out in the within the city of Bloomington
- more specifically within the TIF district to impact multifamily housing and we've got a couple of projects
- in the pipeline where we will continue to hopefully use those funds and the city of Bloomington support
- overall has been great they've been a partner the hand department has been very intentional about working
- with projects and figuring out how grant money from the city
- Loan money from CDFI-friendly Bloomington and loan money from a CDFI partner can be used to get some
- housing projects done here on a smaller scale in Bloomington, which is really important. It doesn't
- always have to be 100 units. It can be 610, that kind of thing here. And so as a point, we are also
- partners with the Urban Enterprise Association and utilize funds similarly to the RDC money
- in the city of Bloomington to impact business and also housing and so we are working with a CDFI right
- now that will we will give some of that capital to them so they can make business loans within the city
- of Bloomington and help provide help bring their expertise to to the region. We gave an x number of
- dollars the BUEA has x number of dollars right how do we how do you get that out
- Sure, and we have CDFI is not a bank. It is not we're a loan fund So we don't hold we don't hold individual
- money. We hold those loans funds loan funds we can hold grant money or other lending capital and so
- we That money was granted to us at a zero percent interest rate It was just grant money that RDC and
- the Urban Enterprise Association gave us so we have terms where we lend it out at a certain interest
- rate and the terms as far as time can vary
- But the high value of that money, and I can't really overstate this because interest rates are coming
- down, but they're still higher. And pooling that money, pooling money from the RDC or the Urban Enterprise
- Association with a CDFI partner who will lend their money at more market rates, so seven and a half.
- We have a below market interest rate that we lend our money. We're a small shop, so we can do that right now.
- do the low market interest rate, that brings down the overall interest rate for the project and makes
- it a lot more workable. We just saw that happen with the project. When you put our money in, our money,
- your money, the city's money, it made the project here in Bloomington, it will make it a lot easier
- for the borrower to provide that service. And so we live that out of certain terms, then we service
- those loans. So we have a loan portfolio that we were-
- funding that will be coming in based upon the loans and on the buy-down. Yeah, so that money goes toward
- different things, but right. So that is money that is loaned out, we service the loans in-house, and
- then if the CDFI partner is involved, then we also, they usually service their piece of the loan, but
- we do what's called an inter-creditor agreement. And so we do our own loans and then we have a loan
- agreement together. What kind of pool do you have now to work with? Our assets are about two and a half
- million. Excellent.
- So as of July, big news this year, and I want to throw compliments to Jane Coopersmith, my predecessor
- and your ESD director, helped tee up our certification to the U.S. Treasury. So to be certified as a
- CDFI by the U.S. Treasury is a vetting process and a distinction that is done. It's a five-year certification.
- It helps us build better relationships with banks. It can streamline some of those relationships under
- federal banking regulation. We also were awarded a $300,000 grant from the CDFI fund that is helping
- with operations over this year and mostly next. Jane really teed up that application.
- About the first thing I did when I came in was to finish that application up and get it submitted after
- Jane left to come back here. And so we were awarded that last fall. That was exciting. So John, is that
- more staff? That was Emma. Emma came on. I was going to say. You can do that, Grant. And so,
- and I'll talk, the next slide, we'll talk a little bit more about that. So, do you have a question?
- No, just CDFI and something from the Treasury based on what I'm reading in Bloomberg about the potential
- possibility of them
- Can a CDFI, is that real or is that just another spec? It's real, but it's fluid, I would say. So this
- year we spent a lot of time talking about in addition, in another way, the impact of community development,
- financial institutions. So the current administration has had mixed feelings about CDFIs and through
- their history, they've had really
- big bipartisan support in Congress. So what's been happening since the beginning of the year has been
- some ups and downs about where the future of the CDFI fund is. The Congress was in the process
- of appropriating money. The money that was already appropriated to the CDFI fund was withheld by the
- administration and was not released. And so now during the shutdown, the CDFI fund employees received
- RIF notices, reduction in force notices that they all
- We're going to be terminated in December. So the agency has taken some hits this year. The CDFI community,
- with the help of a majority of Congress, is pushing back and saying this is important work. This is
- the impact of these dollars that go out. I'll take the opportunity to say that for every federal dollar
- that goes out from the CDFI fund, it's estimated that eight comes back in those projects. You saw the
- leveraged impact of $26 million of CDFI money.
- leveraging out $57 million in projects. So this money does have an impact. Some of the administration
- feel differently. And so Congress is, like I said, pushing back to tell you what pushing back means.
- In the last couple of weeks, 105 Republican members of the House and Senate and 120 members of the House
- on the Democratic side sent a bipartisan letter to Congress saying,
- Hey, this is important. This agency is important it has an impact. Please consider what's happening
- here and reconsider your actions and so the advocacy and the time spent on that we have to be careful
- as a nonprofit we can't just be advocates but we certainly can go and talk about our impact and so we've been to.
- DC a number of times talking about why the CDFI fund is important and why it should be preserved. However,
- we don't know where it's going to go just yet. And on a local basis, if something happened on a federal
- basis, would we still be able to utilize it in the way you have been using it with the two and a half
- million to be able to help buy down and continue? We would because that money that we loan is not federal
- money, that is local money. And it's not subject to that. It is not. What is subject, so the grant that
- Funds a large part of our operations right now. We also get support from banks, and the city has been
- helpful. That federal grant, that is one of the programs that the administration proposed eliminating.
- The Congress has put money back in, and now the government shut down. So I can't tell you today what's
- going to happen with that one piece that is
- One tool that you can access once you become certified, as I talked about, is what's called financial
- assistance money. And that is lending capital from the CDFI fund that is given to certified CDFIs who
- can then lend it in the region. So what we would love to do is to be able to access that money to partner
- it with other lending money, like the RDC money, the BUDA money, and be able to do that out in the region.
- your money and the BUEA money within the City of Bloomington, which has been awesome. But we can't use
- it outside the City of Bloomington for obvious reasons, so we'd love to have other money to lend outside
- of the region. If they don't close the CDFI, is that something that's a process? Yeah, it's an application
- process. Which you would look to do. We would. Once we identify. Yeah, that's right.
- Just have to see where things are going to go right now. So there's been, again, a positive movement
- in the last couple of weeks. We'll see where the shutdown goes and where appropriations go in Congress.
- So it's kind of on the question mark, a little bit of a question mark right now, but we're pushing through.
- So last year, I came to you and I
- went back and looked to make sure I put this picture in. So last year I told you we were working on
- with the hand department's help and the help of LEAF, which is Local Enterprise Assistance Fund. It's
- a CDFI based out of Boston that partnered with Bloomington Cooperative Living to build a new seven-bedroom
- house on the west side that's a cooperative housing model. That's the drawing to your left. That's the
- finished product to your right.
- We all walked through in July. That picture was right at the end of July that picture was taken. So
- there's grass there. It's fully occupied.
- going well. This is the latest cooperative housing model which the cooperative housing model is getting
- a lot of attention around the state and it's an interesting concept I think to explore in rural parts
- of Indiana as well. So we're glad to see that project moving and look forward to more down the road.
- Quick question on that particular project itself because I know we approved some funding for it. When
- we look at the overall cost of it and then how the CDFI percentage wise ends to give
- And I just I'm looking at we got seven bedrooms. I know we put in a few hundred thousand and then CDFI
- added dollars or added technical services in order to assist that to make it a reality. Yes. So all
- of those things. So I would say overall project budget, the city granted about a third CDFI friendly
- Bloomington loaned a third at a low interest rate. And then the CDFI leaf loaned at the last third.
- at a higher interest rate. And so when we pool our two loan amounts together, that brought, it came
- to a median interest rate, right? It blended, divided the interest rates in two and you got a median
- interest rate. So that's how the money worked together. And then there was a contingency built in. There
- was a little bit of cash from the nonprofit, but it was really a third, a third and a third. Okay.
- John, what's your next coolest success story? Well, that's a great question, Commissioner. We've got
- a couple of projects in the pipeline right now that I wish I could give you some more detail on, but
- I'm hoping that those will be exciting this time next year. Here in Bloomington? Yes, here in Bloomington.
- I will say two other things. We are looking at how to make our small business pipeline a little more
- robust. That's probably our
- lightest area right now because we've been so housing focused, which is good. There's just a lot of
- activity with housing. The other third in our strategic plan we did last year is affordable housing,
- small business, and child care. The Community Foundation and regional opportunity initiatives have a
- huge child care initiative going on in the region and there is a place for the CDFI community to be
- involved there both with technical assistance and with financing. Child care is
- There's a lot going on there right now with some funding cuts from the state and federal government.
- So there's a place for CDFS to come in and help providers do that. So we're working with regional opportunity
- initiatives, or ROI, right now to see what that looks like going forward. We partnered with them on
- a grant earlier this year to do project assessments. So there are three projects in the region. Lagodi,
- which I talked about earlier, and then
- one project, which I'll put to the side for a second, but then the Bloomington Center for Global Children
- was one of the projects. And so that grant money was utilized to help those organizations plan their
- projects, expansion or retention. And there are CDFIs out there that can provide the kind of technical
- assistance that will help providers say, I want to expand. How many sinks do I need?
- How many square feet do I need to have to make sure that I can fit this many seats for child care in
- there? So trying to get into that child care world a little bit is going to be really important for
- the access to child care in the region, which our access to child care in our region is lower than where
- it should be. And so we need to help amp that up. And so that's where we kind of come in as a partner.
- So I hope this time next year we're going to see some help with child care being in effect from us.
- That's fun.
- Additional questions? One last question. Sure. And this goes back into history and see how you can help
- out. We have four lots we bought on Dodd Street. Yes. How do we turn those into housing, child care,
- or something? Because we bought them to help out, and we've held them for at least two and a half, three
- years now. Yeah. Well, as a matter of fact, you cannot sell them unless you put them up for public offering
- for the average of the two appraisals. Right. So I'm just looking to see how that would be able to help.
- CDFI could help on that. Potentially, so a lot of CDFIs focus to maintain status as a mission-based
- lender. CDFIs need to have, especially those that are certified, need to have a majority of their activity
- focusing on low to moderate income households or geographic areas of economic distress. That area is
- one. But I will say, Dan and I have talked a little bit, but I do think,
- I want to be clear that there's been no tie here. But I think this is a good opportunity to talk about
- what Flintlock does and their infill development and the really cool stuff that Ali Quinlan and her
- group does. We've worked with them a little bit this year from our organization. Just do a lot of good
- work. And I think there are a lot of really neat ideas out there that could make an impact
- there, Commissioner. So I don't have an answer for you. No, no, I'm just asking where that parallel
- organizations come through in order to provide housing at the cost that it needs to be for. I'll say
- two things just to illustrate the point. If what would be constructed there is housing, which is I think
- the most likely use of that, if they're affordable for rental or if they're affordable for sale, there
- are ways that people who would like to purchase those properties could access a flexible mortgage and
- maybe access the city's down payment
- programming or access some city incentives that would partner with the CDFI loan for construction. You
- just have to have the right builder, the right amount of risk and volume to make the numbers work. Project
- has the pencil out. And it's capital A affordable, so 80% AMI. 80% AMI. Yeah. And that's where most
- CDFIs will say that affordable to them also means 80% AMI below. So those are things that are potential
- for partnership between the city and us.
- Anything else before we move on to the real solutions? OK. John, thank you so much. Thank you.
- Thank you, John. Appreciate it all. Good to see you. Hey, John. Where do we find out about the cooperative
- housing model that you talked? So Bloomington Cooperative Living, they have a website. There's also
- the Indiana Cooperative Development Center, which is a statewide group trying to amp up housing cooperatives
- as well as food cooperatives. So there's a statewide organization. And Hugh Farrell, who is the president
- of Bloomington Cooperative Living, is the executive director
- Indian Cooperative Development. So we've got a Bloomington guy doing that statewide. And are you open
- to additional follow-up questions by email? Absolutely. OK, great. Please do. You're glad to spread
- the word. Thank you. Thank you so much. Let's move to resolution 25127. This is a resolution to earmark
- funds for infrastructure design in the southwest quadrant of the city of Bloomington. Dana and Andrew
- both had a third. Yeah, and Roy's here as well.
- So do you want to provide a little bit of an on-ramp in the context, because we talked about this last
- time, obviously. Right. There was a question about where actually would this infrastructure be located.
- Well, it depends on how it goes and what happens, what's decided to be funded, what's not.
- provided in the packet a map that does show the roadways that might be constructed. Of course, they
- may move because of cars or whatever reason, topography. But basically, the road segments would be looking
- at the bottom of the map going up. Can you make that better?
- So what we have is app road here. I understand, but I can't hear anything back here. Oh, OK.
- I'm trying to speak up, too. So one location for a roadway would be connecting Vanguard. There's a small
- piece of Vanguard already here that was part of the PIC development. So bringing it all the way up to
- Weemer, because most of Weemer, particularly in this area, is floodplain. There is also a one-lane bridge there.
- that is dangerous. So development in this area, which is one of the few areas left in Bloomington to
- develop, will need more infrastructure for safety with traffic flow and police and fire. So Vanguard
- is one of those. And Weimar Road, then, would become part of the trail system.
- could be used for that. So at Tapp and Weaver, there would need to be probably a roundabout, either
- a controlled signal or a roundabout, and probably a roundabout. There would need to be an intersection
- connection here as well.
- Over on the right, you see this is Adams Street. And it ends just behind Summit Elementary School. And
- then it's, you can go up a little bit. And then you have Adams that comes down here. It ends. And this
- is part of the Summit development. And what this would do would create another north-south passageway between
- this part of town and the lower connection. And then Sudbury is this road. It's already to here, but
- it would come over. There'd probably be a roundabout structure there. And there would be some other
- roads inside the development that wouldn't be anything that the RDC would do. And then scroll up a little
- bit to the last of it. The intersection at Bloomfield Road
- And Weimar, they'll rename Weimar Vanguard. So that intersection is not a very good intersection as
- it sits right now. And so increased traffic would just be even more problematic. Now, some of this lane
- in here is actually in the county. It's in one of those donut holes in the city. And so the city and
- county would need to work together on this intersection. And if anything was to be done,
- that stretch. Also, when you bring Adams up, where Adams and Allen is, is also a smaller intersection
- that would require some sort of work in order to control traffic, as well as Bloomfield and Adams.
- But again, Adams would give you a second north-south, and then Vanguard would be
- much more upgraded for that and then a connector between the two. So these are the kinds of projects
- that engineering has come up with that they believe are needed to facilitate growth in that area. So
- turn it over. Oh no, you did an excellent job, yeah.
- I know when the development came through, they were looking at traffic impacts, the amount of units
- coming in, how that's going to impact the traffic situation or current infrastructure. They had some
- recommendations through that traffic impact that the actual solutions we don't have yet. We just know
- that these impacts are coming. So we want to work with the development and try to get ahead of this
- game and then work with the designers.
- to try to start designing this infrastructure so that we're ready for when that development is coming.
- In the thought, too, is if the development or the infrastructure could get started, that would bring
- more interest in that area than that we're wanting to grow. So that would be an advantage of working
- at it on the front end. It could bring a lot more interest
- their properties down there. And if you have anything to add or move on. Sorry. Are there questions
- for Dana? Yes, John. It would have been nice to have the TIF overlay so we can see the district as it
- overlays onto the geographical area that you're talking about.
- Well, we get a picture of me instead. Is this already in the consolidated TIF? Yes. It all is?
- It all is. Unless the GIS has got something majorly wrong. I'm working on trying to pull it up for you.
- We've done a little research since our last meeting.
- trying to calculate when that 2014 expansion number two occurred on the tap road TIF. I couldn't find
- the ordinance. But again, I was researching through the documents.
- really intense looks, but I don't see any. There we go. Sorry, I'm still training. The southern part
- from Wapahani South is part of the Tacro Tif.
- part in Sudbury. Yeah, there's a part of Sudbury that isn't. But the thought is when each new development
- comes in, we would like to create a new TIF area for carve out a TIF for that particular development.
- And that would allow
- start to block again. But two, you could use those. It's part of the consolidated. You could use those
- revenue anywhere. But you could use it to help fund infrastructure in where that subdivision would be.
- This is not real helpful. Yeah, I know. I'm sorry. That's the best we can.
- So here's Tap Road. Vanguard is here. What's the purple represent? Tap Road. And below that is the Fullerton
- Pike. And then the expanded Tap Road. And you're showing is the expanded Tap Road where that roadway
- is coming in? See the little
- Take yourself up to the far left hand side. There's a little white spot that would be indicated in You
- see where I'm saying right up just up the screen Yeah, little road right there. It's a little red. No
- Right there. You just passed it He's talking about this. Oh, so this is the expanded well Now
- I do just want to chime in here. Randy, you did have to recuse yourself. I am recusing myself. Yeah.
- So I think that you need to be careful right now. I recuse myself. I do have some questions. So. Just
- for clarification, does Randy need to recuse himself from the vote or from deliberations as well? I
- think he needs legal to weigh in on that. Technically, it would be from the vote.
- because otherwise he can act like any other citizen and ask questions. So he'll just step away from
- his role as commissioner and ask as an ordinary citizen? Yeah. Is what you're saying. OK, Randy. So
- your comments will be very public. Yeah. Sorry. No, we're good. No, let's get it right. Are there additional
- questions? You ever stated why you were
- Because I'm an adjoining property owner. I just wanted to make sure, yeah, you had meant property last
- time. Are there additional questions from commissioners or comments? Just a clarification with respect
- to this, that there is, and not to get too specific, because I realize the map isn't that precise, but
- that there is a piece of the area that's proposed for infrastructure improvements that is not in the
- consolidated TIF.
- is from what I get on the GIS, right, there's a part of this Sudbury that's not, but at the time that
- would come online, it would be, you would create a TIF before expending funds in that area. With respect
- to the infrastructure improvements, how, just generally, if we start to put, if those projects start,
- because they connect into the,
- sub-area area, would we not have to create that to find a way? To be clear, this resolution is simply
- for the design work of that infrastructure. That infrastructure is not taking place. We don't know where
- that's going. That's right. This is simply for the design work. OK. And it's an idea of where the things
- might go. It's not hard set. We would bring back any
- contract, any specific spending on any project would come back to you for approval for your review and
- approval or disapproval that you see fit up. So this is probably going to take a while to get down this
- road, so that's why we're just hoping to get it started. And what really helps with this is being able to
- give confidence to the developers who want to be down there that the city is interested, the RDC is
- interested in making this area work. And so again, it's not spending anybody. It's just setting aside
- for the confidence of the people that live down there and for developers that
- This is an interest in RDC that RDC has. But you're marking this money now. That's not a commitment
- to spend all of that. Right. And it's not a commitment to not move some of it elsewhere, should another
- need arise. Right, right. This is a priority. Yes. It's establishing that at this time, to the RDC,
- this is a priority that the RDC would like to see come to fruition.
- and understands that there would need to be design work. For instance, on Vanguard, you can't even know
- where that road would go. You'd lie until you get design work going to find out what kind of right of
- way that you would want from the developer. So there's just a lot of unknowns without having design
- work done.
- And I think you can also weigh in on what you believe your priorities are. Is it getting Vanguard secured
- north-south? Is it getting Adams secured north-south? What goals you have, you can definitely weigh
- in on what direction you'd like to see this go.
- We are trying to work out agreements with a couple of the developers down there. And again, this goes
- to show that the RDC is interested in this infrastructure, that it is necessary to develop that part
- of town. And the fact that there's not much other undeveloped land in Bloomington.
- Um, so that's why the discussion about, um, Alley, uh, some of Gwendolyn's, uh, projects in, in trying
- to increase, you know, the density a little bit for more affordable housing. You know, models like that
- may be able to go other places, but as far as just open land, this is about it. So Vanguard definitely
- goes through the Tap Road tip. Yes.
- Yeah, it definitely goes. These offsite infrastructure improvements are really a good example of how
- projects struggle to get off the ground without knowing exactly what they need to get into
- for the infrastructure period. So just because their project is here,
- they have to consider the infrastructure that surrounds the project. And it can really cause a significant
- math problem to get the project to pencil out. Additional questions from commissioners? All right. Well,
- I'm on it. I'm going to go to the resolution specifically. OK. And I want to address the resolve item
- three. Can you explain to me what you're saying?
- That the RDC understands the city staff may work with property owners and developers in the southwest
- quadrant and that the city may approve MOUs or may bring MOUs to the RDC for approval.
- as staff being necessary to incentivize development and economic development in the Southwest Squadron.
- What that means is that when you're talking about a big development, it is difficult to get projects
- going like that and keep the properties in an affordable amount when you don't have things
- like infrastructure in place, or at least the major infrastructure.
- And so we might work out an MOU with a developer that says, hey, we need this road to cross your land.
- We'll design it. We'll build part of it. We'll do whatever. But you've got to give us the land. That's
- the kind of thing that might be in an MOU. OK, so I'm going to be a little more specific.
- in the part where you say may bring MOUs to the RDC. I'm not sure what you mean by may bring, but where
- I'm going with this is that any MOU that had any impact on the TIF or the RDC must be brought. Yes,
- it has to. May just means we may not have MOU. So we may bring an MOU. We may not. If there is an MOU,
- yes, it has to come here.
- Or I mean, it's just you cannot, it would be illegal if it didn't come here and get passed by you. So
- the may means we may have MOUs, we may not. So we may bring it in to that. Well, I get that. But as
- Elaine in reading that, it certainly sounds like it's the option of the day.
- Is there any language you would suggest to clarify that further? Either of you. As I said, anything
- that would impact the use of TIF dollars or anything if it was RDC ground or it just must. I don't know.
- The May part just bothered me.
- Well, Dana's point is that if there is business, if there is an MOU that is needed, then it will come
- to the RDC. But I think the language in the resolution is trying to leave the possibility open that
- perhaps this is allowing for the possibility of funding this design work. Is that correct, Dana? Exactly.
- It's any MOU that affects.
- the RDC has to come to the RDC to get the proof. That's a legal requirement. So the staff can't enter
- into a MOU on behalf of the RDC without the RDC doing it. It's a memorandum of understanding. It means
- that the parties have come together and understand that this is what is going to happen in this particular
- incidence.
- I guess I could change and say, if there are MOUs, they will come. That require the approval of the
- RDC. Well, I understand your explanation. I don't think what you wrote exactly matches what you said.
- I believe what you said. Right. OK. Well, I can make up. But I'm only one vote, so maybe
- Do other commissioners have a comment on this language? I'm satisfied with the language as it is. OK.
- Are we looking for public comment on the resolution, or do we give him an opportunity? Oh, Travis. Yeah,
- he's public. Are we commenting on the resolution, or on?
- On the language change? On the language. We don't have a proposed language change before us. Sit tight.
- We don't have a proposed language for the public to respond to. I made my point. Let's just move on.
- So language stands as it stands as presented. Yes. And I did get a message from Margie that she is concerned
- RDC doesn't leave the earmark money for the infrastructure. Because if the RDC could take it away, then
- that's not much of an incentive to the developers to make agreement. Again, it doesn't authorize a contract,
- but it does
- Can you undo it with another resolution and take away from the earmark? If the need arises, if the earmark
- wasn't needed and they need to rise to do something else, it would require another resolution, which
- would give the RDC another opportunity to let the public view this earmark and determine if it should
- stand or not.
- Given the amount of design work that needs to be done to, again, even determine right-of-ways and things
- like that, I guess I should make it clear that if you earmark it, yes, it's going to stand as it is.
- But can RDC change its mind there? Yes, but we hope that is the commitment
- this resolution passes, that we really do intend to do this. We don't have any intentions of taking
- it away. We can't say what's going to happen in the future. Maybe something won't be needed. So you're
- saying it's only an incentive if it is an earmark. It is an earmark. It needs to look and talk and walk
- like an earmark. Yeah. OK. I'm not hearing a groundswell of support for changing this language in point
- three. Am I mistaken?
- finally the way it reads. I think the intent is clear. OK. John, I think I dropped the floor. OK. So
- with that, we know, are there other comments or questions on this resolution from commissioners?
- If not, we'll go to public comment. OK. Welcome, Travis. Travis Vensel here on behalf of Summit Development
- and the large parcel.
- Um, for clarification, after much looking, all of Sudbury that's remaining, which is the Sullivan Summit
- development is within the tip. It's within a couple of areas of expansion of the tap rope tips, but
- all of the remaining 135 acres is in some part of the consolidated tip as of now from long discussions
- over the last two years with
- hand and legal. So if something's changed from that, we haven't been notified, but it's all within the
- existing consolidated tip. And I think that map even shows that. But that's our understanding after
- working with the city for a long time on that. We're here to ask for support of this because we came
- forward and we realized after doing a traffic study of 22 different intersections and road improvements that
- there was a lot of decisions that the community made at the city on where the priorities were. There
- were intersections in that traffic study that failed today. There were intersections that needed work.
- Some work now, there were intersections that would need work in 15 years. There's a couple of other
- projects stewing down there and trying to put these all together and anticipate which was coming first
- and which intersection was gonna happen.
- who was responsible for which offsite improvement gave us great angst because we couldn't commit to
- what improvements we were gonna do because if somebody else came along first, they would have to do
- that improvement and we would get shifted to another priority down the list. Well, that gets really
- hard to figure out. So this, by doing a potential study of the entire area of engineering,
- You know, we've done some preliminary engineering on right-of-ways of Adams, but what has seen happen
- in the past is you plat, okay, we're gonna do a hundred foot right-of-way. And then when the engineering
- really gets in there, well, we need 125 feet as we go down this hill to get the right slopes. Well,
- now you're replatting, reparsal or condemnation because if you already plat and give it to the city,
- we've given ours. Now to build the road, we gotta do something else. So this really gives us the support
- And I believe the other developers down that area to know the city is committed and we're going to start
- prioritizing the design of this stuff through future requests coming back here. Those requests might
- be to pay for all the design that might be part of the design. It might be to pay for Weamer and Tapp
- and we're going to look at that. It'll be different things that go along the line. But that's that's
- why we're here in support of this because I think this will give us the knowledge we need from the city
- standpoint. They can't handle all this.
- in-house, someone else has to be able to do it. So this is why we're here in support of this proposal
- in front of you to at least earmarks the light so that we can proceed down the line on our other design
- and the other stuff that has to be done to connect into this. This is a lot of moving pieces,
- it's a big area, it's about three miles of road that needs to be redone.
- you know, a four block residential subdivision that needs to be designed here, and we know exactly where
- it's going to go. So happy to answer any questions, but we're asking for your support. Actually, it's
- just public comment, not questions for you. But I mean, if you have any questions. Follow up with Travis,
- and you'll be happy. Thank you for your comments. I appreciate that. Randy, did you have comments? The
- comment I make in regard to it, I have no issues with being able to design roads. Adams Street in itself has
- They've completed a good portion of it to the south. Kenny Blackwell's done another 400 feet that I
- think he's got approved for. Michael Polley did another. We have been waiting for that connection for
- approximately 20-plus years to get our north-south corridor there. So as far as design on Adams Street,
- I think that should move forward. Some of the other areas, my comment in regards to it was,
- The thing because in Bloomington Docks, I could not find where that portion of Sudbury coming off Sudbury
- Drive was an ordinance that expanded the TIF. And with the redevelopments responsibility to work within
- their TIF areas, that's where I had a concern. So I couldn't find it. I looked and I just wanted to
- make sure that as we're moving forward, that would be within the scope of what we are doing.
- Thank you for your comment. Thank you. Are there other members of the public who wish to comment? We
- don't have any members of the public. OK. Seeing none, let's come back to the Redevelopment Commission.
- Are there any other questions from commissioners? If not, is there a motion related to resolution 25-127?
- Approval of resolution 25-127. Second.
- It's been moved and seconded. All those in favor indicate by saying aye. Aye. Are there any opposed?
- Thank you. And we have one recusal. Thank you. That passes with three votes. Dana, does that cover what
- you need? Yes, it sure does. OK. Great. Thank you, everyone. Let's move to resolution 25-130, approval
- of an agreement with Flintlock Limited Co.
- comprehensive and coordinated design of Hopewell South Blocks 9 and 10. So we'd like to speak to this.
- I'm happy to do it. Dana, if you want to do it, that's fine too, either way. Yeah, I can get started
- at least. We decided that the best way to develop Hopewell South is going to be to create a planned
- unit development, PUD,
- And in doing that, it allows you to be flexible because you're kind of doing it outside of the zoning
- ordinance. So the UDO, you're not necessarily bound by everything. Of course, it still has to pass and
- get approved, but it allows flexibility like, can the lot sizes be smaller? Can the homes be smaller?
- the setbacks be smaller, can the riderways for the roads be smaller, and what kind of designs go in
- there. And so to make that happen, we would need to create the PUD. And Flintlock is capable, willing,
- and able to
- help us do that process, because it is a process. They're designing the layout. They know what. They've
- already reviewed the ADO. So they know what our codes allow and what restrictions they would like to
- deviate from. And that's what the PUD does. Instead of doing variances on a lot of different things,
- you're creating that.
- variance for the whole community that you're trying to develop. And the key to that is if you didn't
- do that and you went by code, it's the presentation we had earlier from Ali that says, you know, you're
- going to have, I can't remember the percentage of the houses. Yeah, the current R4 zoning would only
- allow for 28 homes across both those blocks. And with the major, what was it?
- Up to 118, somewhere between 84 to 118 homes instead of just 28. So as you know, PUDs, you can write
- your own rules. It seemed like a much better avenue to go down than just trying to get variants after
- variants. Also, their original contract included the design work.
- They have been great to work with they've made quite a bit of progress, but it did not include Getting
- over the hump of our own internal barriers, which this is one of them some zoning changes that are needed
- The nice thing about the PUD for the city is that you know the location that this is in it's not you
- know on main roads and things like that
- She has done this. Allie has done this in a lot of other locations with great success. But if Bloomington
- decides, yeah, we really don't want to change the UDO entirely to allow these things to happen, this
- can be like a pilot test for this and see how well it does. How well does it give us that affordable
- housing, which my understanding is the RDC's number one goal
- two number one goals for Hopewell South is to spend as little as necessary to get the project off the
- ground and done, plus to maximize the affordability of the houses. And when you talk about things like
- the right of way to the roads, that can be very limiting.
- And the goal is that in 200 years, all of our roads would be of this larger size and things. But the
- fact of the matter is, if you go south on Fairview, it's not very wide. So maybe it could, instead of
- being 60 foot, it could be something less than 60 foot. I don't know why. I don't know what to propose.
- I'm not the architect engineer. But I do know that when you,
- Don't give up as much right away. That gives you more land to develop. And that gives you the opportunity
- for more houses. But all the considerations are going. There's discussions about fire trucks and trash
- collection. And different things like that are ongoing because we just want to make sure these kind
- of things are considered. And they are being considered.
- Valley has actually provided some extremely detailed answers to some of the questions that's been asked
- so far. So again, going through the PUD process is not something that the city normally does an activity.
- Yes, they review them, but we don't create them and we need the assistance of somebody
- knows the project, knows the UDO, and her company has already reviewed the entire UDO and knows what
- would work with it and what wouldn't. And so in my opinion, she's the best one situated, her company
- is, to help us get to PUD and make sure that we get what is going to do the very most
- You can increase right away, increase infrastructure costs and such, decrease right away, get you more
- affordable housing. So there's all those benefits of having the PUD. If we tried to go to variances,
- again, there'd just be too many necessary. So we're just being encouraged to go around the PUD and, again,
- I do believe she's the company's best fitter to help us get through that. Great. Thank you. Are there
- questions for Dana or for anyone? John? I've got no quarrel with PUD, so thank you for that. But I thought
- that was a good plan from the get-go. What I guess I'm going to ask you is, is the $300,000 going to
- get us to the finish line?
- Can you repeat that? Well, $300,000 get us to the finish line. Having had the experience of doing this
- once in my life, it took an enormous amount of engineering expense and legal expense. And $300,000 seems
- like a pretty good sum, but does that
- get through Plan Commission? Does that get through the City Council? Or are we going to be coming back
- for it because we didn't cover all our bases? This should be to cover that portion. So we know that
- it has to go to Plan Commission. We know it has to go to City Council. This is all part of that plan.
- And the $300,000 was actually for the
- I'm sorry. I'm sorry. You're right. I stand corrected. It's like 145. Yeah, I stand corrected. That's
- what I meant. Yeah, and she's given a pretty detailed scope of what each dollar amount will provide.
- Yeah, I read that.
- That is our intent. So going through the DRC. So that's your understanding also. Yes. And she, under
- compensation, has given it as a flat fee. Yeah. So. Laurie and then Randy. Just really quickly, I had
- a crap-related question. The previous resolution that allocated the $300,000, is this
- Or will we now have $155,000 remaining on that? How does this relate to that $300,000? It's an additional
- service. So it's $445,000, $500 total when we're done. That's a pretty good sum. So I just want to hope
- it's inclusive. Yes, but the original $300,000 included
- developer training through incremental development alliance. It included a lot of other ancillary services,
- not just getting our project. So it included the home catalog and included several other things. Has
- that money been, have we spent any of that yet? We have spent some of it. Yes, but not nearly all of
- it. No. Wasn't that a catalog that we kind of solved? Yeah. Yeah.
- So with that, grand total right now, we haven't spent all of our $300,000, but that would be an ongoing
- situation based upon how this project goes through, or process goes through. So we don't know right
- now off the top of our head, we don't know what we spent so far. And some of that allocation could not
- be spent. That's correct. We have not spent all of it yet. $145,500 is a flat fee to take us through
- the PUD process, which we really don't know what will happen. That's correct. It is a not to exceed.
- Yeah, not to exceed on that. It's a flat fee, which quite frankly, from a commitment standpoint I'm
- leading, seems to be reasonable based upon the process. Because PUD planned unit development, or if
- you are the PUD participant, you are planning under duress. OK.
- So that editorial comment. Yeah. But that's depends on which side you're on. Yeah. Anyway, long story
- short, when we look at this, if she can pull this off, we increase ourselves from 28 to potentially
- 84 to 100. So it appears that we've only spent about $100,000 so far. So if anything balanced
- out accordingly, this could actually be offset some because that $145,000 is an absolute definite that
- we would spend to go through the process.
- Well, it is enough to exceed. Well, it's not to exceed, but it's a flat fee. Yes, each step has. When
- you get flat fee contracts, it's flat fee. Yeah. Unless someone is not going to get a refund.
- Probably not. She's well worth it. She did a great presentation in the city council chambers. And she's
- been very forthcoming in regards to helping.
- $145,000 flat fee. We're not sure how the $300,000 will allocate in. We're going to have to go from
- $28,000 in our current portion of R4 zoning that we have. But we are allocating $145,500 to a process
- that is not going to determine an outcome, because it will go to the city council. It will go to the
- planning commission with a recommendation, and it will go to the city council for approval.
- And then that gets me to the next question of what's our realistic timeframe that yourself Dana and
- Ali have lined out and and excuse me. Thank you. The realistic timeframe for hitting all of those various
- meetings. The process. Hold on. I will tell you. So.
- We are targeting December 2nd Development Review Committee meeting, a January 12th planned commission
- meeting. If we have to do a second hearing, it would be February 9th, and City Council targeting March
- 11th. Then that would take us to the plaque process. So the DRC filing by March 20th and the plaque
- filing by April 6th.
- and hopefully the plaque hearing by May 11th. So we're still on target for our original timeline. And
- we're really working hard to meet that. But we have to get this contract approval in place before she
- can really hit the ground. Now with that, since Allie is in Fayetteville, Arkansas, will she have a
- team here? Is she working here? Or will she have local?
- Local help? If you saw part of the proposal, it did include travel time to Bermuda. OK. And then will
- she have some local assistance, or will you or your staff be allocating time to assist in this? We will
- all be involved. Our team RDC, so Director Cooper Smith, Controller McCollin, Dana Kerr, Margie Rice,
- and myself will be shepherding
- shipping the project through because in our class UDO with the city of Bloomington, we wanted to remove
- PUDs. And we did. But isn't this an interesting case study of why we need to do that? I have no issues
- with it at all. I just want to point out that 145,000, if she will commit to going through the process,
- that is a reasonable fee for the amount of work that's got to be done. But we need to take into consideration that we
- don't have a guarantee that this is going to come through. No, but that's beyond the scope of our job.
- That's right. OK. There we go. So we have a very specific role here and a very specific question before
- us. Let's focus on that. Any other questions? If not, have we done public comment on the whole thing? No.
- No. Is there public comment on resolution 25-130? Seeing none, let's come back to the commission. Are
- there any final comments or questions? If not, is there a motion? I'll move approval of resolution 25-130.
- I'll second. We have a motion and a second. All those in favor indicate by saying aye. Aye. Any opposed?
- Thank you. That passes.
- That takes us to resolution 25131, approval of an agreement with American Structure Point, Inc. for
- a feasibility study of 714 South Rogers Street for reuse as a public safety facility. Who's up? I can
- do it again. You all chip in when you can. There was a group that met with four
- Different three. Four were invited. Three architects who are geared up for public safety projects. And
- invited four, three showed up and gave us some proposals. Then in evaluating the proposals, the team
- and a very rich kind of led us in this process.
- and she did use this process. And it was determined that the American structure point seems to be the
- best suited for this particular project. Since it's professional services, there is not a need to put
- this out to bid. We could if we wanted to, but again, there's only certain architect
- groups that focus on this area. And so we just reached out to those. And again, American Structure Point
- just rose to the top. And this would be a preliminary beginning step just to see if it is feasible to
- use the 714 building for public safety.
- And they'll evaluate structurally, is it structurally sound to be able to do it? Is there enough space?
- Is there extra space? They'll also be looking at design of the site. And if you saw in Ali's group's
- proposal, that part of that is coordinated
- with whoever's working on the site design to determine, where is that line between the 714 and the other
- part of the residential Hopewell South? Where is that line going to be drilled? What are the needs of
- the public safety structure? And possibly, does it need a garage or whatever? How much land does it
- need? And then that'll help determine final design
- on the Hopewell South project. It is part of Hopewell South and would be part of the PUD. That way,
- any of the this would also help us determine what variances would they have had to have gotten for this
- to include that in the PUD so that once the PUD is done, it's going to follow through with the entire project.
- So again, this feasibility study, the nice thing about it is if we like American Structure Point, if
- we like the results, if we like the work that they did, they would apply it to the next steps because
- this is part of the work that we need to be done. A lot of times it's good to stay with whoever does
- the feasibility study because they already know that much about it.
- somebody else would come in and all they'll do is try to figure out a way to redo everything. But that
- is a big benefit of having this applied to the next steps. To get anywhere with having any idea of what
- it's gonna cost, you know, can you do it? What's it gonna cost? Then, you know, we would need the help
- of someone. And again, American Structure Point kind of rose to the top.
- through the vetting process. I believe they already work with the city on some things, don't they? I
- think that they are who was contracted with for the permitting process analysis with CBU and planning.
- OK. So they do a lot of work here. Yeah. So in working with that, they, of course,
- without familiarity with the UDO and what changes we need to be made in a PUD to make this facility
- work. So we're asking for your approval. Does anyone want to add anything? No. Anna, do you have anything
- else? No, I think I'll just add that they've done a lot of horizontal work here in Bloomington.
- They have done vertical work with the Lafayette Police Station and the Mystery and City Police Station.
- So they have really good experience there and really good cases to point to. But I think Dan and I gave
- a really good summary of the process and the decision making thus far. So. And Chief DeKalb had viewed
- the Lafayette Station and thought that they had done a really good job with that project. Thought it
- was really well laid out. It all made sense. It all helped.
- the processes go. And that's part of it, too. With this feasibility study, they'll look at what's being
- done in the structure, and where can they do it in the structure best, and in what areas are best for
- what. And so they'll be working very, very much with the police department in determining that. I guess
- we asked for your approval. Yeah.
- questions from commissions. I've got one. I had no questions and then you raise one. Say somebody else.
- I don't know it's a big deal but you said one of their charges would be the structural integrity of
- the building. Haven't we have already spent money to determine that that's not a problem? I think I
- mean I think
- And that wasn't just this year. I think that's before me. It was. But we have not spent money on a structural
- engineer. We have had numerous folks come through the building. But that resolution that authorized
- a lot of that pre-development assessment has not totally been exhausted. So a lot of it was with additional
- consultants, but not a structural engineer. They have a structural engineer.
- hand that can go through and look through the building. We've been dealing with a lot of moisture intrusion
- issues. Yeah, none of that. But it was, we were contemplating tearing it down at one time and I thought
- we had some engineering work to help guide us in that decision. So it seems to me there might be at
- least some information sharing available. They don't want to, they don't have to do everything twice. Yeah.
- There are several things that they'll be able to utilize. The 3D scanning of the building that we had
- done and some various other things. I think feasibility means two different things for this. Feasibility
- of this is specific to their engineering crew and whether it can be used as a police station. The previous
- analysis was less so for specific police use.
- whether it would stand on its own. Is it a building that can be reused? Is it structurally sound? Yes.
- Has an actual engineer gone through and done an analysis and done the calculations? Part of the concern,
- too, is that we've got a lot of materials in the building that need to come out. And so we're concerned
- about doing selective demolition beyond where the mold mitigation was.
- for removing certain materials, are we then compromising the structure? We don't know. So we need a
- real detailed analysis to say, yes, you can move forward with X, Y, or Z without additional construction
- work. And it would be an additional service, not part of the 57.5, but it would be to help develop a
- selective demolition scope to, again, determine
- the structural and architectural assessment of the existing structure is complete. So basically, we
- would want them to help develop a demolition plan. The benefit of that is that if we gut it, there's
- no more material to fall apart or cause problems. You're also uncovering any issues that there might be.
- with the inside that you don't see because of the skeletons behind the walls. And so that's an additional
- service that they couldn't give a price for. But our hope is if we progress through this, then we'll
- come back and ask to help for a demolition plan. And it may be that the demolition would be such that
- the RDC could pay with cash.
- to get the interior demo. And again, if that's done earlier in the process, that gives more insight
- into the design process. Additional questions? Ready? OK. First thing, question aspect. Cost-wise,
- not hard. Not bad.
- When we're looking at this from a going through the PUD as you mentioned Dana and brought this up is
- that going to be part of Flint Locks that the police station force will be included also? So PUDs in
- Bloomington have to be a minimum of five acres and so yes and no. So Structure Point will collaborate
- with Flint Lock in the development of the PUD. The PUD has to include the 714 South Rogers Street to
- get to that five acres.
- Okay, so Flintlock will be assisting. The contract we just approved with American Structure Point once
- they get the structural. Yes, and as part of her scope for the Flintlock agreement, it does spell out
- the coordination between the BPD and whatever architect is selected. Right, that's why I saw the BPD.
- The Structure Point are the engineers.
- I understand it. The only question I would have in regards to it is we're spending another $50,000,
- $7,000 on a building that we talked about tearing down. The police station, the police need it in place.
- And this has been the best selected portion. It's still an ugly building. It is still an ugly building.
- However, to replace that building in today's market, I think you're looking at several million dollars.
- So yes, I understand.
- The RDC saw some numbers in the past that indicated that it would only be about $250,000 to tear down.
- But the real question is, how much is it to replace? And that leads me to my next question in regards
- to what the value of the structure it is itself. I know there's been discussions about co-locations
- of communication police stations over the last couple of years, and what
- dollars besides our TIF dollars that we put into a new police station, we had a PS lit that we purchased
- the showers for, and there was money allocated for the police station remodel. Is there dollars that
- would be allocated towards not this thing, but if we do this and it says it's great, is it something
- that will be coming back to the RDC or will that be a PS lit?
- So unfortunately, because of SEA 1, we are no longer able to use public safety lit for the project.
- And Jessica, would you like to comment on the bond or buyer? She missed your question. I'm sorry. No,
- I got it. OK. I was just curious and encouraged through the first allocation as we look at redoing that
- would already be able to be transferred over.
- The public safety bond was a general revenues bond by city council and the police station project in
- showers west was one of many projects in that bond. The other projects were all fire related. And when
- the carries administration decided not to put the police station in showers west,
- They went forward with another fire station project that was on the list. So three fire station projects
- were done instead of two fire stations and the police station. So all of that bond is expended. There
- is no funding left from that bond. There is no PS-lit, public safety-lit money for this project. All
- income tax bonds are up.
- We cannot bond with any income tax revenue right now because it's so volatile. And so there are really
- very limited options, but we have been working with Reedy and Bond Council on some kind of proposal
- to bring to you that explains how we could fund the police station. Yes.
- The options are just much, much, much more limited as of like April of this year. So we were going along
- this path with an idea of what to do. And then when that law passed on April 15th of this year, everything
- changed. Just revenue-wise, that's why I wanted to ask earlier about where our revenue sources are coming
- from. So realistically, RDC would have a significant portion in that. A significant portion, yeah, supporting
- the police station. In police and fire.
- facilities, capital improvements are a listed item of the TIF and other stuff to places. But this is
- specifically listed in the list of projects for RDCs that's appropriate use by statute. We need to support
- our police. And they've not had a nice place for a long time. Last question, what do you think our time frame
- That's a very good question. If you ask Chief DeKalb, he would like it to start next month.
- Like construction. The timeline for this initial feasibility study is six to eight weeks. But the holidays
- are coming up. So in reality, I think it'll be a 10 bit later. 8 to 10. But we'll have it back in time.
- That's why I'm asking the timeline with Flintlock in order that coordination as we look through to go
- through the planning
- commission that they parallel accordingly. Because if this report comes back bad, we may be in a completely
- different scenario. That's correct. So that's why if we approve this, my concern is just aligning those
- timelines so that it rolls through at the same time and we don't have any hiccups in regards to that
- line. Because we need to build housing. We need to take care of our police. In the discussions with
- them, we did tell them the importance
- knowing what changes for the PUD that we would need as early as possible to align with the project of
- the PUD. So they are aware of it. They do know that that's a primary thing that we want up front. The
- other thing is make sure that it's structurally capable of doing the project. It's nice to know.
- If not, stop early.
- spend more than we have to. And Anna, you'll be shepherding through to make sure that they keep on time.
- Yes. And it'll be a team effort. I can't do it without the rest of this group. Additional questions
- on 25.31? Seeing none, let's go to public comment. I want to note there's one up on chat. Just read
- it into the record. Can you scroll up, please?
- I have to go prepare dinner. This is from Seth at 6 o' 6 p.m. I have to go prepare dinner, so I cannot
- wait till the item comes up for discussion. Please pardon my putting in public comment in advance. I'd
- like to voice my opposition to the item studying the building at Rogers and Wiley for a new police station.
- I'm a McDougall's resident living just down the road from there, and I have personal reasons I don't
- want the building to be the new station. Sorry, but I don't want to be a newbie.
- If we're just out, I would leave well enough alone. I'm not familiar enough with the current building
- situation to know if it can be repaired. And that's a scroll, please. What I do know is that regardless
- of whatever the study may say, that building is not appropriate for a new police station because it
- is far too large. The building is nearly three times the current building.
- From 2020 and BLM to our current authoritarian state and federal government, to our nation's history,
- we should as a progressive community be focused on reducing the police and carceral system, not expanding
- it. Now is the time to invest in community members, not a larger police headquarters, which inevitably
- will need more police.
- I understand the moral question is not exactly your purview, but I ask you to please consider tonight's
- decision and decisions moving forward. Thank you so much. Are there any other comments on chat? Any
- other comments from the public? I see no public. All right, we'll come back to commissioners. Are there
- any additional questions on 25-131? Seeing none, is there a motion? Move approval of 25-131. Second.
- It's been moved and seconded. All those in favor of 25131, indicate by saying aye. Aye. Any opposed?
- Thank you. That passes. That takes us to resolution 25132, approval of environmental restrictive covenant
- for Hopewell West, box four through seven.
- And there was also a change made to this one in the two different versions of the packet, if I remember
- correctly. So if you could speak to that as well. Originally, this resolution was going to be to actually
- adopt the ERC and get it signed. The issue that came up is that when this project started, Hopewell
- had not been planted yet. And so the legal description is tied to an old deed
- that does not reflect the plan of development. And this environmentally restrictive covenant is to cover
- the entire area of those blocks, including right of way as well. We had some questions. Mr. Aitken brought
- up some great questions, too.
- when he was looking at this and IDEM has a deadline of November 7th to have a report on this project
- that's been going on at Hopewell and the due date is then and the question on the board is have you
- recorded your ERC or do you not need one? Those are the two choices. So what
- We have done, as there's been a lot of discussions with VET and IDEM and ANAVET, to determine
- what restrictions there actually would be needed for IDEM to say, fine, you're good. And so the discussion
- was had and it was decided, well, we can't actually get it recorded because
- We've got to deal with the plat. And so we may be talking about a plat amendment. And that's not going
- to be done before Thursday or before 7. And so what could we do to give IDEM some sort of confidence
- that we're going to complete the process of doing the ERC? So what we've done.
- is amended this resolution from what it was sent out on Friday. And this all, of course, come up today.
- But amended to say, OK, well, we're just going to approve the language of the ERC and say that, yes,
- the RDC is fine with the language of the ERC, fine with
- you know, how it's structured, fine with what the restrictions are, which actually are a little bit
- better than we hoped at one point. So there's been a lot of work to try to limit what it is. So this
- is what IDEM is willing to go for. And so this has been prepared based on what they want to see. And
- so our thought was that if you approve the language,
- And whereas Austin's saying, you're saying that this is your intent to do this, to put the ERC on the
- property covered by the item that's covered by the ERC. You will do that. And then approving the language,
- and then we'll just record the language with the Monroe County recorder in miscellaneous. So it's a
- public record that way.
- minutes and anyway but this further puts the world on notice that you know this is the intention of
- the RDC to follow through with this ERC process. The work that was done to prepare the ERC was just
- being completed recently and as early as Friday we were still
- getting some final language together on what the restriction was going to be. And so we moved to, so
- the delay is due to the complexity of the platting process, basically, is the major thing. And the fact
- that the environmental stuff took up until this time to be able to even look at what the ERC was going
- when to cover and where. So again, we're asking that you approve the ERC language and the commitment
- that we record that it'll be brought back to you as likely a flat amendment to be added, because that
- way it does get added to everything under the flat. There's going to have to be some coordination with
- Bloomington Housing Authority.
- Green liked to go ahead with the work that they were going to do there, but they still have part of
- this process. So like the last first move to the plaque that you did that adds meets and bounds language
- and corrected a couple of things, it was signed off by the RDC Board of Public Works and Bloomington
- Housing Authority. And it was able to go through the plaque committee
- which is what I'm hoping, because there's no survey work involved with this. That's all been done. It's
- just adding this environmental restrictive covenant. And the restrictions are critical. So the first
- is that there would be no use or extraction of groundwater for any purpose, not for watering your plants,
- not for any purpose whatsoever. There's potable water.
- applied by the city. So groundwater and groundwater availability is very limited anyway. So that's not
- a big issue. It shall not be used for any agricultural use. Well, that's not the plan for this area.
- There is a soil management plan that was already being followed by doing the Jackson Street Nally work.
- It's already a couple of the invoices you talked about earlier.
- So we're already doing that anyway. And then there is a, the last one is about a vapor mitigation system.
- And those are often very, very similar to what you would do with radon, a radon system, mitigation system.
- And that's oxytocin shower. There's a shallow there, I don't know if they, but anyway, that's a specific,
- buildings issue. But, but with inside that Hope Will West area, these four conditions restrictions would
- be made. So we'd ask as if, you know, on your review of those restrictions didn't change. All that actually
- did change was I pulled out the specifics about the deed and the legal description.
- I did include the soil management plan, though, in case you didn't want to review that. But I wasn't,
- you know, exhibits A and B are the legal description and the map. And we want to coordinate with whatever
- the amendment for whatever process we have to do. Again, I believe it's a flat amendment, but we'll
- need to work with planning on that.
- So that's the only thing is I pulled that language out about the specific acreage of the property. And
- I just called it Hopewell West for the most part, instead of four it's blocks four, it's seven, which
- is what it is. So we asked for your approval. Thank you. John? So this is required by IDEM at the end
- of the day. It is.
- Not a lot to talk about. So if you remember the history of this, this all started due to 24 CFI or Park
- 58 review that was being done, environmental review that was being done. The laws of aggregation require
- that if you're contemplating similar activities like housing or anything like that, any adjacent land
- has to be aggregated into one environmental study, which is why we have the whole of blocks four through
- seven for this, unfortunately.
- really is what triggered all of this. And there's going to be a requirement of each homeowner in their
- individual property to do the testing? Is that what you're saying? They want to test, do they? Yeah,
- no. They wouldn't have to test. It depends on, I mean, they'd have to follow the soil management plan,
- yes. Right. So well, yeah, that's it.
- I thought you said it was like radon testing. You compared it to radon testing. Radon mitigation. The
- radar mitigation system essentially just helps pull. Right, I know that. Yeah, just like a radon system.
- So it's a very inexpensive way. So they would have to do that though. Yeah, on the, if it's not that,
- it would have been a restriction to not have any ground level residential.
- That is not here. I feel very fortunate that this is language that item will improve. I'm not disputing
- the language. I'm just making sure we understand the homeowner responsibilities. And there's been quite
- a bit of thought in my understanding that this would be more multi-family housing in the development
- of overalls as well. Yet to be determined, but the slope of that
- area does yield itself to more height. Okay, thank you. Additional questions? Randy? When we get into
- that, we'll get back to the number of units that we can have and the conditions accordingly as we look
- at the portability that we're trying to identify these restrictions that occur.
- can impact that affordability. That's right, but we have absolutely no choice. This is Hopeful West.
- It does not impact Hopeful East. Oh, I understand. I understand. I'm just looking at that particular
- area, something we found out. And then what is this going to do? Because if we sell this land or anything
- of that, we've got our environmental restrictions, which are there regardless. Yeah, they're going to
- have to follow the soil management plan. They're going to have to follow.
- Is that something that we would end up helping them through or end up doing ourselves? It remains to
- be seen. I mean, the scope of hopeful less has not been determined yet. So I don't know that we can
- get into that quite yet. OK. This is a requirement of IDEM. And we can have first floor residential
- if this is accepted. And there's three parties that have to be enjoined to this. If it's a flat amendment.
- Flat amendment.
- And the other parties feel as though we'll have no issues accordingly. Right. And while we went through
- this environmental work, the plaque was kind of happening over to the side. So they were not working
- in conjunction with each other, if that makes any sense. OK. But now we are. Well, we found the tanks.
- So now we found the tanks. We have to deal with it. OK. Thank you. Any other questions?
- OK, let's go to the public for comment on resolution 25132. I see none here in the room. Is there any
- in chat? We're not seeing any in chat. So let's come back to the RDC for the motion on 25132. I'll make
- a motion to approve 25-132 as in version 2.
- It's been moved and seconded. All those in favor indicate by saying aye. Aye. Any opposed? Thank you.
- That passes. So is there any additional business or general discussion? If not, thank you for hanging
- in there. We're adjourned. Yeah. Thank you.