- to the Redevelopment Commission meeting of March 2nd, 2026. We'll start the meeting with a roll call,
- please. C. Scandalluri, here. Randy Cassidy here. John West here. Laura Hibrati here. Deborah Meyerson
- here. And we do not have any minutes from last week. This is fine. Just staff. Sorry, staff. I'm just
- jumping ahead. I apologize. Staff present, please. Hannah Killian Hansen, present. Christina Finley,
- hand department. Kami Caspula, hand department.
- Jeff McKim, City Controller. Jane Coopersmith, Economic and Sustainable Development. OK, thank you all.
- And I know Margie Rice just stopped us on. OK, she's here. We will announce your initial attendance.
- Oh, and we do have Dana Kerr online. OK, great. Anybody else online? OK, thank you so much. So we do
- not have minutes from last week, but we will start with our reports from officers. We have a director's report.
- Sure. So I did send you guys an email to try and see if we could get a quorum for a different meeting
- date in March so that we could have our financial advisor present and go over our report that's due
- April 1st. It has to be presented to you prior to that date. Unfortunately, I was not able to get quorum.
- So right now, the only date that we have quorum for you guys to receive this information is March 16th
- as scheduled.
- Unfortunately, both Mr. Kerr and I will not be present for that meeting. So I think at this point, due
- to the timing of April 1st, we really probably need to keep that on deck as planned. We'll try to get
- you guys a copy of the report in advance, though. So if you have any questions before we leave, we can
- try and get them answered. And Jeff, will you be here?
- I'm just confirming who's the quorum on the 16th. Bear with me. I have to dig that back out. Just want
- to make sure that I didn't misrepresent because I'm not here on the 16th. It must be Rami, Sue,
- and Laurie. OK, that's fine. I just wanted to confirm as long as it was Sue. Laurie, what happened?
- I'll be here in person. OK, perfect. Sorry, I'll be there in person. OK. Great. Thank you so much. Who's
- presenting for us? Do we know?
- Is it the little guy or the older guy? It'll be Mr. Cheney. OK, cool. But other than that, I'm happy
- to answer any questions. Or if you guys need anything, please let me know. Thank you. A legal report
- from either Mr. Kerr or Ms. Rice. We're just here to answer questions if you have them.
- OK, thank you so much. Do we have a treasurer's report? No report. Thank you. Business development update?
- No update this evening. OK. And amplify Bloomington. I don't see Mr. Kanuki here. I'll sneak up here
- if that's OK. Thanks for doing this. You guys are part of our management agreement. We want to keep
- you up to date.
- I'm John Fernandez, the CEO of Amplify Bloomington. While we pull up, I don't have a long presentation,
- but I did want to provide some updates on the progress we're making under our management agreement.
- That's the end of it. It looks like it got messed up somehow. Oh, anyway.
- As some of you know, we launched Amplify Bloomington about a week ago. Just for clarity, Amplify Bloomington
- is a DBA. So all of our agreements between the Redevelopment Commission and DementiaMill Inc. are still
- agreements between those two entities. We're just going to mark it as Amplify Bloomington. So it's not
- going to change any of our contractual relationships.
- Just go to the next slide. I'm not sure why we have that. So just three things I want to talk about
- tonight is give you an update on the launch, update on the forge, and then the trades district development
- writ large. So on the Amplified Bloomington, again, we've launched this new platform. If you want to
- go to the next slide, that'd be great. What is it?
- I got kind of screwed up here, but it's a civic platform that's bringing together all of the key assets
- that we can leverage from an economic development perspective to help build a robust community and economy.
- So it really unifies a lot of the activity from the university's research and talent pipeline with our
- entrepreneurship community and all the cultural and kind of community building that we're doing.
- came off to a big start here. If you want to just go to that slide. I don't know what happened here.
- I don't either. It didn't look like that when I sent it. But we have three pillars that we're focused
- on. Entrepreneurship growth, which is the core of what we do, supporting founders and scale-ups. We're
- focused vertical on strategic business attraction and, you know,
- trades district development itself. And then we have a pillar that's focused solely on the startup community.
- I mean, that's what has always been the strength of the mill and the activities in the trades district.
- And so I think it's important that we bring these things together in a way. The real important piece,
- if you go to that next slide here, it might be easier to read. This kind of is how it all fits together.
- So Amplify Bloomington is the umbrella.
- That's our brand that we really lead with, whether we're marketing programs, places, or some of the
- other civic involvement. The mill is the mill. It's still the mill. It's got a good brand. It's really
- the startup community home, and it's the catalyst for much of what's happening more broadly in the trades
- district and in the greater Bloomington community. The Forge is, as you all know, focused on
- Companies that outgrow the mill or some of the businesses that we're attracting to the community. And
- then the trades district, of course, is the innovation hub that has a lot of momentum and has a lot
- of opportunity to be a really big market signal. That benefits not just the trades district,
- but more broadly, the entire community, in some ways, our region. Go to the next slide here. Yeah, I
- don't know what happened here. I should have just sent a PDF.
- But we have three Keystone partners that are really core to some of the foundation that we've built.
- The city of Bloomington, the Redevelopment Commission is certainly one of them. Indiana University and
- the Cook Medical Group have all really put in significant capabilities into where we're going with this
- organization. So the Forge.
- You know, 86% occupancy. We have 1,800 square feet left that we're continuing to market. The most recent
- lease that you all approved was Prometheus. Their schematic drawings should be done this week. Their
- plan is assuming they get their building permit, which hasn't been a problem. I don't mean that as a,
- that's not an editorial thing. It's just a process thing. They intend to start.
- their build out at the end of March. We've really got a very stable financial position right now with
- the Forge. It's doing really well. In fact, it's doing so well that we're paying back the redevelopment
- commissions and the city's $100,000 operating fund reserve that you all approved as part of our trades district.
- management agreement amendment. If it didn't happen today, it's happening this week. As you recall,
- when we updated the partnership agreement, the forge was just about finished with construction, and
- we were still waiting to lease it up. And the city was gracious enough to say, well, forward $100,000
- reserve fund
- that we could use for any operating expenses until we started getting the leases in place and collecting
- rent. We spent out of 100,000, roughly 54,000, a little bit less than that, on some of those early operating
- expenses prior to having revenue. The biggest chunk of that was around 20,000 to repair the vandalism.
- the windows that were broken. But because we've had such a high occupancy rate very quickly, we have
- the revenue now to pay the city back. Under your agreement, we could wait three years, but we don't
- want to. We're going to do it now as a measure of good faith and I hope demonstrating sort of the momentum
- and confidence we have in the plan.
- We're going to continue to hold in reserve cash for any other unexpected community building events that
- could happen and be really prudent. But we wanted to get that city's money back to you as soon as we
- can. So that'll probably be this week. Yeah, so let's go to the next slide. It's for the trades district
- itself. We started construction today.
- in earnest on the remodeling of the mill that you all approved. We have, as part of this, the IU's Lulee
- Endowment Grant. We have funding to expand the capacity of the mill because of the growth we were achieving.
- So that work started today. It's going to add about 36 or so workstations. It's going to add.
- three additional private suite offices in the 200, 250 square foot sizes where there's a high demand
- for. And it's going to enable us to make some significant improvements to the large meeting space at
- the lower level. That work should be completed by the end of June. So we're already marketing the suites
- and marketing the event space.
- to get moving on that. Just a little commercial. Today, SOMA opened at the kiln. They're part of our
- community. There was a steady stream of people from our building to welcome them to the neighborhood.
- So that's cool. Parcel One actively working on a owner-acquired project for that. But Nikon Wood will
- be in a position to seek
- our board's approval in the end of March, maybe the first week of June. Pretty excited about that.
- The hotel, probably should do this in reverse order. But we're working with Dana and Nana on the closing
- for the land. Under the sale agreement, we need to close by the end of this month. So we're pregnant
- at the last week of March.
- when the developers can be in town for some other activity. Related to that, they are very close to
- finishing their schematic design so that they can start getting some solid bids on the cost and nailing
- that down. And then they're really hoping to break ground early spring or early summer. I think they're
- very anxious to get started.
- One bit of news, if you want to go to the next couple of slides to give you an idea of what it looks
- like. This is kind of the revised schematics as it continues to evolve. You got all the planning approval
- done. The site plan was approved January 12th. Despite all the other stuff we hear, the city, the utilities
- department, planning department did an exceptional job of moving this forward.
- There was a lot of collaboration on the design and setup so that we didn't have a protracted long process.
- So we're really grateful for that collaboration. The one big change, not a big change, but we went from
- 150 rooms to a design that's going to incorporate 171 rooms. The demands there.
- and the footprint enables that. So if you go on that slide, that's the corner view. This gives you a
- view if you're looking from kind of a northwest looking at the site. And then the next slide shows you
- what this northern northwest piece looks like where it'll have some retail as well as rooms above it.
- But we're really happy with the design ratio architects.
- has been great to work with, with the developer, and it's come along really nicely. And that's all I
- got. But I'm happy to answer any questions that you have about anything under the sun as it relates
- to the trades district. And again, just super grateful for the redevelopment commissions for what we're
- doing. What is the target open date for the hotel? End of 2027. Yeah.
- They'd like to be open sooner, but it takes a while to get these things built. They're looking at those
- sold out football games going, damn. I'm struggling with AmphiFly only as an entity. Is it an actual
- operating business? I mean, are there employees? Yeah. So Dimension Mill Inc. is the nonprofit that
- was established in 2018.
- when the mill was redeveloped. We are the DBA of Amplified Dimension Milling. So everybody that works
- with me, we work for Amplified Bloomington. Oh, okay. Okay. Yeah. Yeah. All right. That makes sense.
- At first, I thought it was a branding exercise. No, it's way more than that. I think, and that's the
- real important thing is that, you know, over the last half of 2025, we had some working groups
- looking at a couple of areas. One of them was around the brand, but a lot of it was around the governance.
- And so historically, the executive committee of our board was about five or six people. It wasn't even
- that. It was about five people. And they were original supporters of the mill, mostly startups.
- And we felt like to do what we really want to get done as a community, we wanted the executive committee
- to have representation of our key stakeholders and institutions at a kind of C-suite level. Because
- the challenges we have are real. And our organization by itself can't fix them. And so the two things
- we've really been that's been on our radar is population loss.
- which we have lost population for two years in a row. And that's a massive red flag, especially if you
- look at where that loss is coming from. There's a just dramatic drop off in population in the 20 to
- 50 year old demographic. I mean, it is like radically declining. That's a real problem. The other issue
- is just our wages are stagnant. And so
- You know, for us to act as a civic alliance, and that's how we positioned Amplify Bloomington, we need
- everybody at the table kind of locking arms on what are we going to do. Some of the stuff we'll own
- as an organization and drive, but a lot of it we have to collectively deal with. But our North Star
- is our increased population in that critical demographic. Get our wages up and elevate the brand of
- Bloomington so that it's
- properly viewed across the country as a place where innovation and startups and people can build,
- you know, meaningful things here, whether it's companies, careers, families. So who are the
- major placeholders that work with you? Our executive committee includes the city, university, cook group,
- Chamber of Commerce, BDC, and then other corporate
- Has the government structure changed then between doing the DBA as amplified Bloomington compared to
- Dimension Mill? Just in terms of the internal, the executive committee has changed. We made some modest
- changes where like terms of officers were extended so we weren't having turnover every year. And we
- added a couple of advisory
- standing committees around entrepreneurship, community, around business attraction, and around government
- relations. But you don't have to be a board member to be on those committees. That was just an engagement
- strategy. Thank you very much for your presentation. Appreciate it. Thank you. Good work. All right.
- What time does Summo open? Pardon me? What time does Summo open? I don't know.
- I know they were open early. Okay. Appreciate that. Thank you, John. Thank you. Thank you all. Sorry
- about that. No problem. I should have just sent a PDF. That's on me. Will those slides be on the next
- minutes of this meeting? Yeah. Okay. Thank you. And we'll get them corrected. The PDF version? Yeah.
- Thank you. Okay. We're on to new business. The first item on our agenda is resolution 26-17.
- which is declaring and designating and declaring a certain area as an economic development area, the
- summit district EDA and approving an economic development plan for the said area, establishing a residential
- housing program in the said area and regarding related matters. Who would like to speak to that? Mr.
- Dana Kerr, city legal will be speaking to that. Yes, I would like to kind of start with something
- for all of you, but it's how a TIF works. Because what we're talking about tonight is a residential
- TIF, which is different from a commercial TIF. But as far as how they work and operate, they're very
- much the same. So what you do when you create a TIF is you establish the base assessed value, and that continues
- go to all the other underlying taxing units in the area. But as economic development, residential development
- occurs, then that increase, I believe that the gray area, I'm calling it blind, but that increase is
- captured and goes to the RBC that can pay for a variety of project costs. The project costs can be costs
- within the EDA,
- in the allocation area or in areas that support those that you would need to, which we'll talk about
- in the third resolution, that you need to construct to be able to make the development work for some
- reasons. And beginning of the TIF, for commercial TIFs, it is 25 years from the first time you incur
- a debt payment.
- For a residential TIF, it is 10 years. The big difference is that in a commercial TIF, you cannot capture
- the increment for residential properties. But it can, again, last up to 25 years from during the first
- step. For a residential TIF, you can not only capture the residential
- But you can also capture the commercial properties as well. But the maximum amount is 20 years from
- your approach to project. So whether you choose a residential TIF or a commercial TIF basically depends
- on how the EDA area or allocation area is going to be developed.
- we're talking about today, Schatz to Meadows, is part of the assignment development. And that is primarily
- residential. So it makes the most sense to make that as a residential allocation area. And so the, for
- you tonight is a declaratory resolution, in that slide, that is going to encompass
- all of the summit district PUD as an economic development area. So it establishes that there's parts
- of the economic development area that live in part of consolidated EDA and it will be converted into
- the summit PUD district PUD EDA. And to start with,
- is, again, Shasta Meadow on the left, number one, that is the first area to be developed. It doesn't
- really benefit to create all the different allocation areas within the economic development area at
- one time because we're not sure of the time. We don't know when the developments want to start in those
- different areas. We don't know if there are going to be shifts.
- commercial or residential. So just by creating one allocation area for now, we're going to be able to
- capture the income for Shasta Meadow, which again is the first development. But we will be coming back
- over time in capturing other allocation areas, and we'll do that just before development.
- And so the EDA is the overall TIF area. And an allocation area is an area within the EDA that says,
- this is the area that we're, right now, going to establish as an allocation area and set the base value,
- assess values, so that any incremental development at that point can be captured
- and used to support the EDA. Now those funds can be used, we'll see later, for the design of infrastructure,
- for the construction of infrastructure. It doesn't mean that the infrastructure has to be actually all
- in that allocation area, but it has to be tied to the allocation area in a manner that shows that it is
- supporting that development. And especially it gets more important when you can say, hey, without this,
- let's say this infrastructure development, then Shasta Meadow couldn't develop because there's not the
- infrastructure there for it. So tying it to existing infrastructure is very important. And so what
- we're hoping to do is capture that criminal assessment as it shows and then determine ways that are
- best to use that funds to support the overall EDA and those areas that support the EDA as well. So this
- is a way that the RDC can generate some income
- that can be used, potentially will be used within the development of the, and for the red road at Sudbury
- and the green blue road at Adams. Those roads are very much necessary to connect this overall development
- to the rest of Bloomington and provide some infrastructure that will support Bloomington as a whole,
- Avenue Street, connecting it will now give another direct line from Bloomfield Road all the way to Hap
- Road. So this really helps connectivity. It'll help connectivity for traffic flow to and from the APA.
- So there's a variety of things that the funds can be used for. That is one that is often used, but you're
- not going to
- And you all understand this from the consolidated TIF that you have and what projects can be, the TIF
- funds can be used within the consolidated TIF. And so technically these funds could be used outside
- of the EVA Summit District as long as it supports the district economic development.
- So what you have for you tonight is a statement saying, hey, we believe this is important. We believe
- that establishing this EDA is necessary to help drive development of the Summit District area. We all
- know that Bloomington is landlocked. And so we must take great care in dealing with the projects
- for the land that we do have within city limits, which includes all of this area here. And so by providing
- the TIF and generating revenue, that revenue can be used to help spur this development in ways that
- it wouldn't happen without it. And again, the wonderful thing is the interconnectivity of the infrastructure
- is going to be a huge benefit for all of the, for the southwest quadrant of Winnington. So again, tonight,
- what you are saying is, hey, we believe this is very important that we, the findings are in the resolution
- and in the plan attached thereto, that this is important for the development
- in the best interests of the welfare of the community. You are not displacing anybody within the summit
- district. These are all underdeveloped properties. You're not purchasing any land. We'll see later when
- the land is donated to the city for infrastructure and the fire station. We'll get to that later.
- And then you're saying for Shasta Meadow, we would like to start the first allocation area there. And
- we want this to be a residential allocation area. Again, if there's commercial, if there's residential,
- that do not necessarily, it's not necessarily, okay.
- All the findings are presented with you. We just are really asking for your support. We ask that you
- declare this declaratory resolution that you passed this. Next steps would be that it would go to the
- Planning Commission for their review. It would also go to the Common Council for their review. And then,
- hopefully, on April 16th or sometime thereafter,
- It will come back to the RBC. And at that time, you will pass a resolution that says that you are confirming
- that, yes, we want to do this, and we're going to make this happen. And there will be a hearing at that
- point. That's the point where the public can be involved. We already had a public meeting. We had some
- public show up and discuss the project. We did not receive any negative feedback.
- during that public meeting. So we're following the statutory process. So we are asking you to approve
- resolution 26-17. Thank you, Dana. Do the RDC members have any questions for Dana about the process
- or the substance of what's in the resolution? Dana, I think you said this.
- I want to just make sure I understood it. When does the baseline for value actually get established
- for Shasta, for instance? It will be as of January 1st of this year. So as long as the declaratory resolution
- is passed in this calendar year, it reverts to January 1st. It used to be different, but that's another
- story if I can hear. But January 1st.
- And that's the, and that's the, they, that's the, it's established just for, for phase one, correct?
- Correct, yes. And as we add areas, then you would, we would add, the baseline would be determined then,
- depending upon what year we establish the other ones. Right, right. And of course, as they start to
- develop, before they develop,
- establish the allocation area, start with another declaratory resolution to start that allocation area
- when we know that before development is going to start to keep that base assessed value low. But we
- don't want to start it too soon and inadvertently start a clock that we don't want to start. And as
- we add allocation areas, does it go to the plan commission
- City Council each time, or is this one large declaratory resolution that only gets approved once through
- those various bodies? It will go through the process again. OK. So there's always opportunity for input.
- And just like we'll have a hearing on this declaratory resolution in April,
- they would be followed with a public hearing as well before they could be passed. Thanks, Dana. Can
- I ask a question just about that, just in terms of the sequencing, what triggers the next one? Do we
- just kind of jump through each of these allocation areas and get the resolutions passed? The development
- is going to drive it. So if Denali would, the second one we're thinking about, it's going to start up.
- two years, then in two years, we would create the allocation area for that. If it can install and it
- takes four or five years, then we'll wait four or five years. We do want to do it before the development
- occurs in there. But again, there are things that trigger the clock, like a debt, a signing debt. And
- if you can do that, then you start the clock. But we don't want the clock to run too soon because we
- capture that incremental increase for as long as we can. Yeah. One last question, Dana. Do you have
- a larger map that shows where this is? I was playing around with Google Maps, and I couldn't quite figure
- out where Sudbury and Adams intersect. Sure. Anna has one mission that's going to be used for the next
- presentation.
- Oh, I see. Okay. And Adams is constructed coming up from path and going down from Bloomfield Road, but
- that white hashed area is not constructed. So that's making a much, much more interconnected area. And
- then when you can attach the two together with Sudbury, that once again is making interconnections
- through the city roadway system, street system, to help with traffic flow and safety and some of the
- other things. Thanks. Dana, on the map you presented in regards to their sequencing, the map in our
- resolution has different numbers in regards to it in the TIF area.
- So I don't know if that needs to be corrected accordingly in our resolution, because what I just heard
- was that Shasta Meadows, which is indicated on your map as TIF Area 1, is TIF Area 5 in regards to this.
- Yeah, it is referenced in the, just the fact that in so many of these drawings done, it is reflected
- in the name of the attachment itself, which area it is. So we follow the attachments, the sections
- attachment to the resolution space, but this is we are referring to the Shasta Meadows. It still says
- TIF Area 5 off Sudbury Drive. That wasn't created by that. That came from Sudbury. I understand. I'm
- just trying to get it. Five is one. Right. That's what I'm looking at is any resolution that was passed,
- do we need that corrected accordingly?
- Yeah, for consistency. For consistency. It would be helpful if we're looking at slides that have it
- labeled as one and the resolution is labeled as five. It would be helpful to have the same numbers across
- all documents. But doesn't the exhibits and the resolution match, though? Yeah. They do? Yeah. And the
- importance of that from that, that's identified. Yeah, allocation area includes TIF area five. Right.
- I'm just looking at it from
- a consistency of a presentation basis based on what we showed. Yeah, I agree. What was on the screen
- doesn't match, but that's not part of the document. Right. It's part of the presentation. It's part
- of his presentation. It's part of the presentation. So the allocation area that we're dealing with at
- the present moment is on the presentation is one, and the resolution is tip area five, which is the.
- But that colored document that you're looking at is from the PUD. We can't change that. I understand.
- I'm trying to, when I'm asking these questions, it's not to be argumentative. It's simply to put that
- the PUD resolution that went through the playing commission also matches some of the resolutions. And
- they have different numbers. And they have different numbers. And they have different numbers. So the
- confusion aspect of that, if someone's looking at it from the playing commission, is going to say tip
- area one, but it's actually tip area five. Can you show that colored map again? I just want to make
- sure you know that that is a
- The document that's already gone through the PUD process that we can't amend. Right. I understand. That's
- why I was asking in regards to this if this would be amended in regards to what they've done so it matches
- our presentation. So if there's any public that indicate what area we're actually talking about, right
- now we're talking about allocation area for the Shasta Meadows, which is TIF area one based upon the
- PUD map that went through planning and was approved. And it's actually in our resolution, TIF area five.
- Based on which is a bit based on the exhibit. So should be fun. Yeah, it should be one instead of five
- So we should chat well, we can't check our presentation is rudimentary it just pulled out something
- that was previously passed So I'm just trying to be consistent. Well, it's too very bad that we're hitting
- for allocation areas
- Yeah, I would focus on the resolution and the exhibit attached to the resolution. It is TIFF Area 5.
- Right. We're not voting on the color. No, you are not. No, I know we're not voting on it. I'm just,
- again, trying to be consistent in regards to where we're looking. But TIFF Area 5-4-3-2-1 did not include
- the names of the neighborhoods as they're calling them out. So TIFF Area 5. I'm trying to get clarification.
- TIFF Area 5 is the Shasta Meadow area, which is going to first
- be allocated as an EDA in that area. That's the only thing we're really. The entire area is the EDA,
- all five. The entire area is EDA. The allocation area. Just the allocation area. Yeah. So remember,
- the EDA is the entire tip. Right. And then you have smaller allocation areas within it. And we're starting
- with Shasta. Yeah, which would be.
- Just to be sure, so when people pull this document up in 20 years, they're going to see that the numbers
- match here. Your point is it doesn't match the PUD map, which was done some period of time ago. Right.
- We can't change it. I'm just trying to keep everything. If people start looking for documents as we
- look through the documents in our Bloom doc and such, they're difficult to find. And they don't always
- correspond. So the allocation area that we hit on TIF Area 5
- That's the amount of dollars we're going to capture to verify through the name of Shasta Meadows, which
- from a development standpoint, is that going to include single family? Will that have multifamily? And
- question for you, Dana, is the multifamily able to be captured from a revenue standpoint in the residential
- TIF? Yes, most of it will be considered eligible for the residential TIF. What is not can still be captured
- as the commercial aspect. But again, you're still limiting it to the 20 years instead of 25 years. So
- that's why you have to do the balancing act of how much is going to be residential, how much is going
- to be commercial, when is what going to be developed, what is the way to be strategic and flexible about
- it to capture the greatest amount of incremental tip funds that you can
- to support the area. That's why we're hitting our allocation area, Shasta Meadows first, because that's
- the first one. Do we have any idea what, based on the preliminary PUD, what revenues would be generated
- from that allocation area? Number of units? We don't at this time. Really, there is an overall concept
- of how area five of the Shasta Meadows is going to be
- developed, but it's not been filed out yet. So we were not going to, there have been reports that gave
- estimates, but to me, I do not, I think KSM did a report a long time ago before going before me, but
- that one is old and two, until we have the idea of how this might actually be
- is going to be very difficult to say what's going to go in there. And then part of the dollars that
- we're looking at, or EDTA, will be we set our baseline. It captures the incremental that's going to
- come up. What kind of time frame do we typically look at for any recapture? Typically, we've been using
- the maximum amount allowable for the different
- allocation areas. So we would be looking at 20 years, not from today, not from any confirmments, but
- from the time you have the first obligation from it. So if you do some bondings to help with infrastructure
- costs, once that bond payment becomes first due, that starts to talk for the 20 years. So realistically,
- Given the timeframe, this has got to go through EDT resolution from us, planning commission, city council.
- Before anything would happen, realistically, this is probably a few months to a year away. Actually,
- we're shooting to have it back to you to finalize it in April. OK. So do you have a question? Yeah.
- Thank you.
- Dina, can you say more about the type of housing that's envisioned for Shasta? You've talked
- about single-family and multi-family. Do you have anything you could share in terms of the price ranges
- we're likely to see? I would not know about the price ranges. There is in the PUD. I have to dig up
- it. It gave estimates of what would be in each area.
- Is it anticipated there might be any development agreement that would have a defined housing outcome
- as kind of part of a leverage of the offer of the TIF and the allocation funds for the infrastructure,
- you know, having some kind of agreement as opposed to just a projection? So when you say allocation
- of funds, do you mean allocation of funds to a developer? I mean that obviously the
- city is taking on the risk and the funding that would be allocated through this TIF that is to benefit
- the development of the housing. So I'm asking if there is anticipated that there would be a development
- agreement to guarantee certain kinds of housing, whether price points or housing types that the city
- has an interest in, in terms of the city's own resources being put into the project. So one of the things,
- and I don't know if this is going to be responsive to your question or concern or not,
- We've sort of switched gears with this developer from the way things started. There was early conversation
- with this developer about providing funds for incentives for them, doing bonds, that kind of thing,
- developer-backed bonds. But where we're going with this area is really to just, and we talked about
- this when we talked about the fear marking of the $5 million for design, and that's going to be addressed in that
- MOU that's coming up later on the agenda. We do not anticipate giving the developer funds for housing
- or tying our funds to housing. Our proposal is that we use our TIF dollars for building infrastructure.
- And my question is not about funding for housing. It's about getting an agreement, like basically leveraging
- the infrastructure funding
- in exchange for a commitment to housing of certain price points, housing types that the city desires.
- You know, obviously the developer has their own market analysis that they might do, but the city may
- have, you know, priorities that are not always met by the market. And so in terms of in exchange for
- the infrastructure investment that the city is helping to leverage through the TIF, I'm asking if it's
- anticipated there might be an agreement
- in terms of housing outcomes, that's not just a projection of what they might like to build, but what
- the city would like to see as a priority from. In addition to, you mean more detail than like the PUD,
- right? I mean, we've got the PUD, you're saying drill down and be a little bit more detailed.
- And is that, I mean, we have, certainly, you know, there's, and Dana, you may want to address it.
- I mean, certainly there can be that kind of thing. I don't think we've, I think that's kind of a conversation
- beyond today. I mean, it's kind of a next step. It's not, you know, it's further down the road,
- pun intended, than just getting this EDA created. But I don't know, Anna, if you have it from a housing
- perspective, if you want to address any of those issues of trying to get certain kinds of housing. So
- we did enter into an agreement with the developer to purchase
- 20 lots and require them to be under 100% of the area median income. So we know that those are coming,
- but I do not have other information about what types or prices or kinds. I think that there's been discussion
- of townhomes. I believe if it's more than four attached units, then it qualifies for commercial TIF.
- Um, but I know that there's been conversation and maybe a few of those, but I do not have specific
- information. Um, director Cooper Smith may have some additional contacts that she's been engaged as
- well. I mean, hi everybody. I would be pulling the numbers up. So I think this is really just a reflection
- of the current, I mean, this isn't an answer anyone likes, but it's the current marketplace where the,
- in order to get any units to go, we really,
- are having to figure out how to support this development. So Anna talked about that lot purchase. And
- then we're working on some ready funding also to offset the cost. So it's not like the city is in this
- or the RDC is in this alone. We're really working to leverage outside resources. We've tried to figure
- out if this can go on an opportunity zone. It cannot, which is unfortunate. And so instead, we've been
- talking about a deal structure like Margie described, which would really
- put the control in the cities or in the redevelopment commissions within the redevelopment commission
- and it would allow, yeah, just quality control as the funding is being dispersed if the redevelopment
- commission ends up going that direction. But that's just kind of where it's step one. We're not negotiating
- that deal right now and I don't think that
- I might be going too far out of my lane, but I don't know that there's a desire for that on our perspective.
- We just want to see the units created, period. And they're committed to the volume and the types that
- are in the PUD. Yeah. As far as adding onto that, what you're going to want to see in 2619 is a discussion
- about supporting the infrastructure design.
- And that's under an agreement with separate partners, the developer. Once we get past that, more about
- that later, when it comes to, you know, 2.8 prevent structure, there is the ability to negotiate with
- separate partners about that.
- what we can bring to the table, what we can. We still have to work on that. But is there a possibility
- that we could do something that would lead towards some commitment to affordability if it's possible?
- We just don't know as much about, again, how this is going to be plotted out to be able to say that.
- As far as your question, would it be possible? It is possible. What happens, I'm not sure. It depends
- on what effect we get to that point. But it is possible to say, hey, we make a payment infrastructure.
- But by doing that, we want some sort of commitment, a minimal commitment or whatever that you're at
- least going to do this much. And so that is a possibility.
- I think it's also really important to come back to this idea of what new construction affordability
- means. I mean if you're talking about the most expensive
- housing to deliver. Right now our market is so constrained that any units will help at all price points.
- The affordability and new construction are very difficult to understand. I get it. But right now it's
- the laws of supply and demand. We need units. And what that does to the overall market is take pressure
- off of existing units at similar price points.
- helping the housing market, not necessarily the delivery of those specific units. And so I think we
- really need to reframe some of those conversations around what the goal is. The goal is we need units,
- period. We are short on units significantly in Bloomington. That is what will help drive down some of
- our housing affordability issues market-wide.
- And I specifically was not using the word affordability in my question, but I understand that's a common
- and reasonable concern. So I appreciate your answer. Did you have follow up? It spawned an interesting
- discussion, so I'm happy with that. I have one other question, which is, when does a financing plan
- kind of emerge from this? Either the declaration, obviously the agreement that's later on the agenda
- is really just a design focused agreement.
- But I'm just trying to get a sense of, like, when do bonds get issued? Under what kind of repayment
- terms? Like, when do those decisions happen? And does that come back before us? Or is it just kind of
- gone once it leaves? There are going to be bonds that will come back before you. And it would also go
- to common counsel. Common counsel is the only one that can approve the bonding. So when the bonds might
- come in by, say, we get it all designed,
- By design, now we know how much it costs to construct. Now we can talk about an agreement who may pay
- for what for the construction and for the part that if the RDC is willing to pay part of the infrastructure
- costs, is that going to be out of cash on hand or do they want a bond for it? And if they want a bond
- for it, that's when you calculate how much revenue is anticipated and how much would the project cost.
- So how long would the bonds need to be, which would be a maximum of 20 years, if we go beyond that.
- So those terms would be developed then. But until we have ideas of construction costs, which we don't
- have right now, we don't know. But it would be coming after the design process. And I want to clarify,
- when he mentions bonds,
- I think you were talking, Dana, about just RDC TIF bonds for public infrastructure. So there's
- no conversation at this point about issuing developer-backed bonds for the housing. And generally, in
- some conversations we've had with engineering, the reason we asked you for that $5 million earlier for
- designing roads, and we'll talk about this when we get to the third agenda item,
- we were estimating you know kind of what costs might be and the engineering rule is generally like five
- million dollars worth of designs get you about 25 million dollars worth of roadway and we're like that's
- a good place to start at this point. We don't know yet I mean there are no engineering contracts in
- place yet and our engineering department is going to lead in that regard but
- You know, we're not even there yet. We can't even do an MOU with the developer yet regarding construction
- because we don't have the design check. We just got to get that piece done first. So I think we may
- have presented this with just gone in with a lot of detail up front. That big picture, I think what
- you can tell from what Margie's describing and just the fact that we're at this first step, it's
- It's phased. There's no, what am I trying to say? We're not at a point where we've done all the legwork
- and then we're going to surprise you with a really complex tip agreement that's fully baked. This is
- incremental. It's developing incrementally. This is the first step. And even Mr. Fernandez mentioned
- in his presentation, this is our two years of population decline. That is why we are really working
- to figure out what's the kind of
- way that we can protect public resources while leveraging to facilitate the creation of these housing
- units. And the TIF is the way to get that done through leveraging that in some way. And we think that
- we have a really good roadmap. But it's not finished yet. And it will continue to happen incrementally.
- At this point, we have, Margie mentioned, a number of MOUs that are being sequenced.
- it will be bringing the RDC along as the project evolves. And I would expect even things like, and I
- entered and mentioned it in one of your previous meetings, like engineering contracts to come back through
- RDC. I mean, you'll be apprised of the steps, the incremental steps, as we go along. OK. My creating
- a tip that does give you all the authority to be in the driver's seat with what's going on.
- And so you're able to, you know, the contracts would come to you. Any plans that, hey, should we do
- some bonding for infrastructure? Or should we do this, that, or the other? That would all be coming
- to you. This is just the first incremental step. Those things have to evolve as this project goes on.
- It's not something we can plan in this far advance.
- But my approach to everything has always been, how do you maintain as much flexibility as possible?
- And so by doing one allocation in the area at a time, that gives us flexibility by not committing to
- any particular path to where it gives us the flexibility. So I want the commissioners to be able to
- have the flexibility to be able to guide
- this using your knowledge and your reasoning and discernment. Yeah, do we? So I just want to be cognizant
- of our time. Not to cut down any questions, but do you guys have any additional questions on this matter?
- Yeah, I do. Yeah, go ahead. This question probably bleeds into 2620, but I'm going to ask it anyway.
- Does the, before any kind of development can occur on any of these, in any of these areas, is it not
- true that Adams and Sudbury have to be complete? That is true. That is in the PED. The PED requires
- before any occupancy permit can be given is that Sudbury and Adams must be constructed
- There's a few reasons for that. One is previous history where projects... That's okay. I just wanted
- to establish that that had to happen. So from my standpoint, I think that any kind of TIF dollars that
- can be used for that infrastructure is critical. And we've had decades of debates about how we were
- going to get those roads and those utilities done.
- So if this is a pathway to that, then it's a win from the get-go. This is definitely the start of that
- pathway. Yeah. I mean, you're talking about the biggest PUD in Bloomington's history. To follow up on
- what John's question is, those roads will have to be done even before Shasta Meadows is occupied or
- done. So literally, this could be a couple of years just because of design and road construction.
- Well, that's why we're, that's why we have to put this down. That's why we're here. I understand. I'm
- just trying to put a realistic timeline to the standpoint of while we have significant other dollars
- that have to be done, this is not going to generate enough revenue in the time frame to offset the cost
- of the roads, according. And practically speaking, we have felt that getting the infrastructure moving
- is going to spur development, because once you get these roads built, that area suddenly looks a lot
- more interesting to the world than it does now. You know, once you have a road that goes north, south
- between Second and Tap, and you have these approved roads, suddenly it's like, yeah, I could drive in
- here. Yeah, that's why we're pushing the infrastructure. And we're looking from a road standpoint, Adams
- and Sudbury. Those will be our primary things we're looking at.
- Ultimately, we're also having conversations. I haven't brought anything to you yet, but we're talking
- to folks about the north-south roads and talking to engineering about what's eventually going to replace
- Weamer. Right, because Weamer is a bottleneck in regards to where we're going without Sudbury going
- through and utilizing that as our thing. Yeah, there's going to have to be a new improvement in the
- north-south.
- Okay. Thank you. I just had one edit that needs attention on the bottom of page four of this resolution
- number 17 that references Pike County in a couple places. That has been corrected and uploaded online.
- Okay. Thank you. I appreciate that. Just wanted to make sure. Well, again, I want to take in the one off
- It might not have been the linked version, which might have been corrected. I just wanted the whole
- PDF, and that's what I grabbed off the website. It should be corrected in both the links and in the
- packet. OK, thank you. OK, well, if there's no other comments from commissioners, we'll open it for
- public comment, either in person or online. Seeing none, I'll entertain a motion on resolution 26-17.
- Go ahead. No, I'll be happy to relay it.
- Well, thank you, John. That's kind of you. Prefer, not relent. Relent. Move approval of Resolution 2617.
- I'll second. I feel that John should be the one to second. Okay, we have a first and a second. We'll
- do a vote by roll call, please. Steve Scambler, yes. Brandy Gaste, yes. John West, yes. Laurie McRobbie,
- yes. Deborah Meiersing, yes. Motion passes unanimously for Resolution 2617. Thank you.
- Next item on our agenda is resolution 2619, which is an approval to terminate the Monroe County CASA
- incorporated lease at Star Wars West. Who would like to speak to that? I will address that. So this
- is papering up something that I mentioned to you during your last meeting, which is an agreement that
- we've reached with CASA whereby they will terminate their lease and they have plans to move to a new
- location in exchange for their termination of the lease. The redevelopment commission will pay a total
- of $45,000
- $751.50 for convenience sake, not because it changes that number, but in paragraph two of the agreement,
- we've put in there that the value of the parking passes, because in addition to that number, we are
- providing two annual parking passes to the tenant per year. Those are 24-7 passes that are $119 per month.
- 119 times 12 times two is $1,428. And so that was a question that we had with, we were having a sidebar
- conversation prior to this meeting just to make sure that we both understood how I arrived at that number.
- But the total amount the RDC is going to be asked to pay the cost is $45,751. I would encourage your
- approval and entertain any questions you might have. Thank you.
- Any questions or comments from commissioners on this resolution? No. That's everything she's had.
- March 31. OK. And that gives them adequate time, too. Yes. I actually think, based on our conversations,
- they may actually be out earlier than March 31, but they haven't done March 31 until they're all done.
- OK. That just leaves us three or four additional. A few more. Yeah.
- No other comments or questions from commissioners. Open it for public comment, either online or in person.
- And seeing none, entertain a motion in resolution 26-19, please. I'll move approval of resolution 26-19.
- I'll second. Second. OK, we've got a first and a second. A vote by roll call, please. Seuss, Campbell,
- Larry, yes. Brandy, Cassidy, yes. John, West, yes.
- Yes. Yes, motion passes unanimously. Thank you. And the last item of new business our agenda is resolution
- 2620, which is an approval of an agreement between Sudbury Development Partners LLC and the City of
- Luton Redevelopment Commission regarding Summit District plan unit development and planned and public
- infrastructure improvements. Would like to speak to that please. I can speak to that. I'll try to be
- brief at first but answer any questions.
- As we have talked that Sudbury and Adams are integral roadways that will benefit not only some of the
- district, but the entire Southwest quadrant of the city. We're going to connect the ability between
- Lincoln and Tapp, and between Adams and Wimmer. And you had already earmarked $5 million for design
- work. And so this is an agreement.
- We've made sure in the agreement that city engineering is in the driver's seat. They need to approve
- the vendor. But engineering does not have the capacity to run this project and other offsite improvements
- that we're working towards or the
- property of Vanguard to the south, so they just don't have the capacity to do it all. So the Sudbury
- Group will act as the overseer of what's going on with oversight of the phim from city engineering.
- And the great thing about this is when the roadway is designed, there's an agreement that Sudbury partners
- will donate
- all the right-of-way needed for Sudbury to happen. And so therefore, even though it said that in the
- CED, we wanted in this agreement, in case for some reason some of it didn't happen twice like what we
- wanted to do, we wanted to make sure that those right-of-ways were available for the construction of
- those roads, because those roads, again, are so important. And so the cost.
- design of those two rows has been estimated to be about a million dollars customized in that ballpark.
- But basically the RBC, about five million dollars, would use about a million dollars to pay for the
- design, and Sudbury would oversee that design work and the field work. Sudbury would donate all
- But at that point in time, we said we would also donate money for a fire station. And so that will be
- negotiated between the parties exactly where that is. But once these two roads do get constructed, there
- is a great hope to have a raceway neighborhood fire station in that area.
- is for you to approve this agreement with separate partners so we can begin the design of these two
- roads. And once they're designed, of course, then we will be able to calculate much more accurately
- what the costs are going to be involved, which will help guide further discussions on how we're going
- to make those roads happen.
- Thank you. Any questions or comments from commissioners on resolution 26-20? This will be paid for out
- of our existing consolidated TIF, or which allocation area will? Yes. The earmark was made out of the
- consolidated TIF. And that consolidated TIF is allowed to pay expenses incurred by the redeveloped commission
- for local public improvements.
- that are either in the allocation area or serving the allocation area. And so these, again, these roads
- may be serving the current allocation area as, you know, because again, they either may be in or per
- serving. But yes, I'm fully expecting that the engineering contract that any engineering contract that
- our engineers bring for
- improvements will come through the RDC because it's going to be paid for by RDC with chip dollars and
- the MOU will allow us to reimburse Sudbury's engineers but remember paragraph two says the director
- of the city engineering department shall establish the standards by which the infrastructure must be
- designed and shall approve the vendors associated with the design and then it's
- has a process for vendor invoices to go through for Sudbury then through the engineering department
- and city staff so there's going to be a lot of adding of these but yeah I think this MOU puts our engineering
- department in the driver's seat in terms of design. Do we know if there'll be local firm participation?
- I believe that they have I think their engineer is not a
- Bloomington engineer. Anna, Jane, Dana, did they tell us? Yes. Sorry, I can picture the Stantec engineering
- firm. That is somebody that they've already had been working with. They've already done some work. Yeah,
- they've done work. Yeah. I'm just asking the question because as we look at local tip dollars being
- paid, there's some local firm participation to get.
- Let's see. And then the dollars that are collected from the residential TIF, would that ever go back
- to repay any of this or the agreement based on? I'll be honest. There's always more demands for TIF
- dollars than there are more projects than your money. I can't imagine that we're not going to have plenty
- of needs in that area for the additional infrastructure.
- Yeah, I mean, so I don't know that it will come back to repayments. And then dealing based upon where
- they said there'd be a location of the fire station, I mean, that's been an ongoing discussion for 20-plus
- years. Has any discussion been had in regards to where? Because as we look at Sudbury and Adams coming
- through, that our local fire and safety have an allocation area or discussions with it already, or is
- it just up in the air?
- No, I think they're talking about a location, haven't they? Yeah, but I don't remember exactly where,
- Director Coopersmith, do you remember where they've said the fire station would be? Was it? It's on
- an eastern, it's adjacent to the power line trail and on one of the eastern most car schools.
- So I'm sorry, I don't know how to identify the exact location. It's in the middle, somewhere near Adam
- Street. Yes, it's close to the intersection.
- Thank you. Margie, I think you just answered this to Randy, but that really was my only question. You're
- confident that we can support the expenses incurred within this
- TIF area with consolidated revenues until it becomes self-supporting, which will be years down the road.
- Yeah, the infrastructures, yeah. Yeah, I think so. Because again, I think these will be expenses incurred
- by the redevelopment commission serving. There's that typically you're restrained and have to spend
- your money within the allocation area unless it's
- expenses incurred by the redevelopment commission. And back to our philosophy, we want to spend TIF
- dollars on things that we need as a community. We need better infrastructure that happens to serve these
- developers and help them do the things they want. So we're running all of these things through
- the redevelopment commission. One, because we think that we need them for our community and to develop,
- and two, so that we can
- make sure that we use these dollars for the serving, you know, serving the allocation area. If you remember,
- it's what we did with the dispatch center too. It was just on the edge. Yeah, but it was on the edge.
- I mean, it was, it became a geographic conversation. And this is not on the, I'm not sure.
- Is it on the edge? It's on the edge. Yeah, it's on the edge.
- Certainly, Adams and Sudbury clearly will serve the entire community. But this is one of our last undeveloped
- quadrants of the city. And if we don't create infrastructure and open it up, it's going to sit there
- undeveloped in our opinion, the way it has been. I don't disagree with you. To answer. The consolidated
- tip will surround this EDA. I'm sorry. The consolidated tip will surround this EDA, except for any
- property of the county that might be in the county to the very, very west. So yes, and funding
- the consolidated TIF can be used in infrastructure that supports the consolidated TIF, which is definitely
- would do that. Also, I'd like to remind everybody that towards the end of last year, there was a discussion
- about the different projects that RDC had going forward.
- this on Hopewell and so on, and feasibility of doing them and putting funding in Hopewell was part of
- that analysis that was done. That it knew that some of it was going to have to have some influx. And
- so the controller at the time had considered that in whether or not we have a pathway moving forward.
- And it was determined that, yes, the RDC can and consolidate can assist this project. Plus, as you say,
- at some point, it's going to start capturing that increment, where hopefully not only by the end of
- the whole thing has it not only continued to help itself, but it's then able to use funds in the surrounding
- area to benefit that area
- as well. So, you know, we're really looking down the road for revenue for the RDC for 2025, and depending
- on if it takes, say, 10 years to develop, 35 years down the road, which you don't have right now. So
- this is also a long-term investment for ongoing RDC.
- Director Coopersmith, did you have anything else? No, Dana answered my question. It's just John was
- asking really specifically whether it's adjacent and it is. And then Dana provided all the context for
- that. It's adjacent to the existing tips. I'm just curious, in the agreement it mentions, in addition
- to what the RDC is obviously providing for infrastructure, the REDI 2.0 grant of $4 million. Just wondering
- what the contributions
- are required under that grant. Just understand how that fits into this project. Well, that grant is
- still going through economic impact analysis with ROI. So we have two more steps before there is a signed
- agreement. So just making sure the status is clear is not official. And then your question was, what
- contributions are required? I was just wondering, what's the terms of that grant? What's expected under
- that? Well, the investment
- that is being made or has been made by the developer through the purchase and the work that's been done
- so far meets the bulk of that matching requirement. And then similarly, the commitment that the RDC
- made through the resolution last fall to use $5 million in design and planning, that meets the public
- match for that $4 million grant. In reality, this project is so large
- there will be more than enough match to go around. But the timeline is the tricky part. And I apologize.
- I don't remember off the cuff what the final spend down of the ready funds has to be for the second
- round. But we're in touch with ROI regularly and believe that we're on track for that approval. So what's
- the grant for, though? The grant is for, sorry, sewer
- infrastructure contributes to a lift station upgrade. OK, just wanted to know what it was. Sorry, I
- misunderstood your question. No, I appreciate the information. You got all of it. I got all the information,
- so thank you. OK, any other questions or comments from commissioners? If not, we'll go to public comment.
- It looks like there's no one left from the public except for our honorable reporter. Any public comment,
- either online or in person?
- Seeing none, I will ask for a motion for Resolution 26-20. I'll move approval of Resolution 26-20. Move
- a second? Second. We have a first and a second. We'll do a vote by roll call, please. Cease scam alert,
- yes. Randy Cassidy, I'm going to abstain from this. I'm not a direct...
- the joist and the property owner to either one of these. But given the fact I am one of the owners of
- Woolery Mill, I feel it's best to abstain from a vote on this in order to keep full transparency.
- Thank you. Can I vote twice? It's a yes for me. I was going to vote one for Randy. Laura McBridey, yes.
- Debra Meyers, yes, motion passes four with one abstention. OK, that's the end of our new business on
- the agenda. Is there any other business or general discussion? If not, a motion to adjourn. OK.
- Thank you. Thank you all. Thank you. Thank you, everyone.