Welcome to the Redevelopment Commission meeting for the City of Bloomington for August 3rd, 2026. We
will start the meeting with a roll call, please. Sue Scambaleri here. John West here. Randy Cassidy.
Randy Cassidy present. Laurie McRobbie present. And Deborah Meyerson here. Can we have staff present,
please? Anna Killian Hansen, Director here. Christina Finley, Hand Department.
Jeff McCamm City Controller. Can be Caswell Hand Department. Jane Coopersmith Economic and Sustainable
Development. Thank you.
So the first item on our agenda this evening is presentations for College Square from respondents who
originally submitted their proposals on July 20th. We've invited each of them to do 20 minutes
in presentations so that we can have public viewing of the presentations. And then after each presentation,
we'll have approximately 15 minutes of Q&A from commissioners with each respondent.
So the first respondent on our agenda is Concord, TWG, Ratio, and Shiel Sexton. Good evening, members
of the Redevelopment Commission. My name is Adam Tease. I'm with Ratio Design, and I'm representing
the Concord development team tonight. Our presentation's on the screen. And with us tonight is Dustin
Eggink from Ratio Design, as well as several people I think will be, there's Carl,
from Concord Development Company, and we will be joined as well by Chase Smith from TWG Development.
Welcome to Bloomington. That's the name of our presentation. Why do I use this?
Why do I use this phrase? So I'm the father of four kids, and every time we come down I-69, we come
home to Bloomington, because I live here in this community, my four kids, every single time, they count
down 10, nine, eight, seven, six, and when we cross by that sign that's right at the College Avenue
Act, they yell out, welcome to Bloomington, as loud as they can. They've done it since they were little
children. And to me, this presentation,
is about figuring out how Bloomington welcomes people and welcomes people to Bloomington. I think we
have an excellent brand. It's an incredible story around this community. I love this logo that Visit
Bloomington uses. I think Bloomington's a lot of different words. I think it's magical. This is at the,
who has tuba sanas, right? Who has lights at Christmas time that are straight out of a Norman Rockwell
book. It's whimsical, it's fun, it's unique.
It's artistic. It's colorful. Those are four words I chose. Frankly, they don't really matter because
in Bloomington, people choose a lot more words, right? This is a beautiful picture. I think I credited
it appropriately. It was in the B Square as a recent article. Bloomington has lots of opinions, right?
It's a very opinionated place because people are passionate about it. That's okay.
We chose four words that we think represent our proposal, but there's lots of opinions. This whole topic
has had a lot of opinions. I don't know how many articles from Dave Haskins I've read in the last couple
of years about this topic, lots of opinions. I used to be a CIB board member for two and a half years.
I'm very well of the convention, very, very aware of the convention center. And we pieced together this
team for a very specific proposal for this project. We actually submitted this proposal to the CIB as well.
So you're going to see a proposal that intends for the two bodies to work together. That's the intention
of our proposal. What words matter to us? What matters to us is the word arrival. What does it mean
to arrive in Bloomington? What's that first sense of experience? Our proposal proposes a new hotel on
College Avenue where you have a direct arrival experience, where you meet and greet
Bloomington at kind of its best, a street level drop off, a beautiful arch courtyard, a rooftop plaza
where you can have a wonderful experience, an arrival. It means engagement. When you step inside this
hotel experience, you would be met with a unique and a different opportunity to engage with Bloomington.
In fact, if you take a second, imagine that when you arrive inside this hotel,
You'd be engaged with the idea that you could go to a street front artist space. In fact, we intend
to have this space right at the corner of 4th and College Avenue, where you could actually yourself,
as a guest in the hotel, maybe go throw a clay pot. Maybe you could paint a painting. Maybe you could
actually walk away with a piece of art from Bloomington, not just see some other piece of art.
from Bloomington, you might even make a relationship with an artist. And we see that as a part of our
proposal, a direct engagement. We think our proposal's about linkage. We think the Beeline Trail is
an important part of this community and certainly is an compelling pedestrian bicycle corridor. We think
that our whole entire proposal not only addresses linkages on the Beeline, but addresses linkages straight
to downtown.
Our proposal has a rooftop bar with views that directly look at the courthouse square. So imagine those
magical winter nights when it's all lit up, or imagining the summer days when there's festivals and
activities, and you can connect to this icon of the Bloomington community. We've also proposed a very
special pedestrian connection to the beeline at the intersection of 3rd Street and College, where we
think people actually will be as they come and go from the new convention center.
On the backside of our development, we'd see a continued enhancement of the B line. We're not first.
This community has already done this along the B line. It would just be another enhancement to that
corridor. And we think these are compelling linkages. What's our proposal? We're just gonna be very
transparent, open, and put it out there for you all to consider. I spent two and a half years on the
Capital Improvement Board.
I think as a community should be proud that the convention center's moving. It took a long time. I was
on one of the first committees back in 2017, 18 and 19. So we should be proud. It's gonna be a beautiful
building when it's done. One of my concerns is that it had about 450 parking spaces when it was a 30,000
square foot building. It's going to be a 90,000 square foot building. I would really, really encourage
that we need to preserve those parking spaces. It's really critical for the future of the convention
center. South of the parking lots are what people call the seminary square development. We think that
that is an ideal site for a mixed income apartment complex development that would include an
exact replacement of the low income housing that's been lost. So we would, we've. Thank you, I appreciate
the comment.
That's too bad. We think that there are 27 units that would be low to moderate income units that would
be included in this development, and it would be right along the Beeline Trail. Have a good rest of
your day. We think this site would be a catalyst for Second Street and really be a pivot point to Hopewell
and also re-engaging kind of the south part of downtown. These are examples of projects our team has done.
both TWG projects and ratio design projects. In specific, ratio would bring a team of our design group
that comes out of our Denver office that has had some very specific mixed income apartment and mixed
retail and housing development. Two of our recently completed projects are at the top of the screen.
In exchange, we would want the CIB to accept our offer for $4 million for that property.
and in essence urge you as the redevelopment commission to accept that as the purchase price for the
College Square property. So it's in essence the land swap deal that everybody's been talking about,
but at a four million dollar valuation. TWG would request a developer-backed bond based on the development
at that site to support those 27 units. On the College Square, Concord Hospitality would develop 160 room
full service hotel on the eastern half of the site, we won't be bashful. We think this requires subsidy.
We think it requires free land, and we're estimating a $12 million gap. How to close that, we would
work with the Redevelopment Commission and the staff on how to do that, but we think the Bloomington
Hotel market is soft for this product, and we think there's a required subsidy to deliver this kind
of product at this kind of price point in this kind of location.
ultimately is our main proposal. This is the overall summary. I'm gonna turn the microphone over to
Dustin Egging, who will kind of paint the overall urban design proposal. Thank you, Adam. Again, my
name's Dustin Egging with Ratio Design. Just to quickly go over the scheme here, and just to reiterate,
this is something that
It is not designed. We really look forward to working with the community to come up with this. But a
few things to stress here, though, is that this is a partie that is dense or has a density to it that
is visitor-facing and community-facing. So the element on the College Avenue side is where we are proposing
the hotel component that has
very distinct and direct and easy linkage to the convention center, but also has the views afforded
back and the connection to the downtown proper. So it becomes this really nice connection point. On
the opposite side, we have proposed a phase two. That could be an expansion of the hotel.
or it could be additional housing as it faces the B line. And I think those are really kind of two distinct
points is that there's a visitor-facing side, a community-facing side. And this really goes to the notion
of finding the right mix and something that really fits in with the community right here. Towards the
middle, parking, that really
makes the both developments serviceable and an easy mix for the proposed development. I think at this
point in time, we'll wanna just turn it over to questions. We have Concord and TWG on the line right
now. Yeah, and I see Carl from Concord, but I don't see TWG unless someone else is trying to enter the
meeting, but Carl,
Carl Wren, Executive Vice President from Concord is on our call. Happy to answer any questions about
our proposal. Adam Chase Smith is here as well. Hello, everybody. Okay, Chase Smith from TWG is on the
line as well. Thank you for your presentation. We have
several questions that the RDC worked together collaboratively to develop. I will be presenting them
on behalf of the RDC. Our first question is, beyond the purchase price, please explain the form and
amount of full public subsidy you're proposing for this project and how you arrived at that request.
Carl, do you want to take this first? The $12 million in subsidy that would be required is what the
pro forma shows to make the project work.
We would be open to work with any and all different departments, entities to come up with the $12 million.
That's what's needed to close the financing gap or to close the gap to have the project pencil. We would
be open to any and all, whether it would be tax, whether it would be TIF, whether it would be any forms of
incentives that we could come up with as a team would be required to make the project work. That's how
our numbers work out based on the occupancy and the rates and adding 160 room almost luxury boutique
style hotel. Thank you. Our next question is,
If your proposal relies on CIB cooperation, have you had communication with them and secured
their cooperation? What other third parties will be required for your proposal to be achieved? We submitted
to the CIB. They did not hear our proposal when they went through their process. What other parties?
I don't know of any other than the normal planning, zoning, city department approval
processes that would be involved. Thank you. Our next question is, does your project require additional
land or use of existing facilities that are outside of College Square? Yes, the proposal requires the
CIB and the Redevelopment Commission to come to some sort of agreement to make that work.
Could you be more specific about what land or facilities that you're anticipating would be part of your
project? It was the land that was shown in the diagrams. I think the diagrams were as specific as we
could get. They outlined the specific areas that we referred to. Can you explain the estimated time
frame in which it will take to complete your project?
as long as the negotiation takes and then it's always approximately about a two year process. So in
your choice to include housing as part of your project, tell us more about the housing you've chosen
to include and why. We think that there's demand on that site. We think that there's a reason to continue
to provide
very affordable units on that site and do it in a very high quality way. The RDC is required to consider
the public benefit of your proposal. Tell us about how your proposal is providing the best benefit to
the public and the highest and best use of the College Square site as well as any other related property.
I think on the College Square site it's
been long discussed as a very key location as you transition from the core of downtown Bloomington,
particularly around the courthouse square, to this new convention center, a $70 million investment that
everyone who's gone out to dinner has paid for. Those are the people who have bought the convention
center, everyone who's gone out to dinner. And that investment has not been insignificant, and this
site is basically the gap in the smile.
of that downtown and filling that gap, I think, with a really strong sense of arrival and a really strong
sense of a compelling hotel product really helps to bridge those visitors that will be at the convention
center, getting them to come up into the courthouse square, which I think is really the kind of crown
jewel of the downtown. One last question, which is, tell us more about the risk that
your team is expecting to assume versus the risk that you're expressing the RDC and public entities
to assume. In other words, if the product revenue does not deliver as intended, who bears the shortfall?
I think that would be all forward-facing in future discussions. I think we've put together a pretty
complex proposal. We're not naive. I mean, we read the papers. We go to the meetings. I used to be a
CIB board member. I'm not naive. This is very messy.
complicated, lots of meetings, lots of articles. We put forward an idea that we thought worked for the
community. We would be, we don't think in any way it just magically snaps its fingers and comes together.
So we think it's gonna take some time to negotiate, but we think we have a very compelling idea. Okay,
thank you very much for your time and your responses this evening. Thank you.
For our second presenter this evening, we have the other respondent, which is Dora, and partners like
to invite you up.
Good evening, everyone. Thanks for inviting us here. My name is Vince Dora from Dora hospitality.
With me, I've got David Roush, our architectural firm and Chris see only from little brothers on the
call is Russ louder back my development partner from a lot of back development. And I believe Travis
is on the call areas. And he is going to be joining us as a partner with the multifamily housing development. So
for our proposal today. We kept it brief and light so that we could all absorb it in the short amount
of time we have today. So from a high level, our proposal includes 80 to 100 units of residential housing.
That'll be market rate, a restaurant within the hotel or apartment building of 135 keys, commercial
and retail space to be leased out,
of approximately 20,000 square feet and structured parking of 200 stalls to help park all of
this development. Next slide shows a bird's eye view of the overall site plan. And architecturally,
you can see that the multifamily is on the north side of the site and the hotel and restaurant is on
the south along third street.
closest to the new convention center and the existing. We felt that was important so that there would
be a smaller walkway from the hotel front door down to the convention center. As you guys know, we won
the CIB RFP for the host hotel. This hotel and development would be working in tandem if we were to
be selected so that there would be sister properties helping with overflow and other needs for the market.
You can also see that in the middle, we've designed a promenade that we'll get into more details about
in a second, but this is going to be walking space between college and the B line trail to help activate
both sides. You'll be able to see through, we'll have some drivability and some walkability and retail
space along that promenade on both sides to help activate the two sites and help them feel connected
as one so that it's not just two separate buildings.
I'll invite David up here in a second to kind of go into more detail about architectural, but we felt
it important to have the restaurant on the west side of the site there along the beeline and college.
There's a grade change that kind of lends to having a space over there that would play into activating
that space along the walking trail, help attract folks that are biking or walking, and then also utilizing
from the hotel standpoint as well.
for our guests there. We will have a kind of elevated bar on the corner of college and third facing
towards the convention center so that our guests and any convention goers or other users will be able
to enjoy having a drink. This will be an elevated cocktail lounge, primarily for the hotel users, but
also for the surrounding areas as well.
The red square you can see on the fourth and college corner is gonna be retail. That is gonna be TBD.
That's gonna be leaseable space. The main entrance is going to be on the north side into a underground
parking deck that you will see here in a minute. The amenity space on the left is going to be to service
the multifamily housing, whether it be fitness center, leasing office, gathering spaces, that kind of stuff.
We're, well, I'm gonna invite David up here to talk about the inspiration for the overall architectural.
He's better at it than I am. Thanks, Vince. Dave Rausch, Luminat Architects. So you had to build on
Vince's earlier comment. The site approach here was to try to recognize the importance of College Avenue
and programmatically
put not only the hotel but also a housing component and give a nod to Courthouse Square and extend the
facade, sort of the street line presence that works its way down college. So clearly a very specific
move to bridge residential work along 4th Street and then the hotel down along 3rd. The promenade in
the center,
is a way to create a hole in the pedestrian scale hole in the site, which allows for a variety of local
storefronts, vendors, an interactive pedestrian room, an outdoor room, if you will, and make
that connectivity sort of across the site down to the beeline trail and the bridge. And that's where
we placed a very, what we think is a keystone of the
a signature restaurant that would hold that corner. Relative to the inspiration, again, this building
and development would like to own, it does own a very obviously important part in the fabric of the
city, and in our approach, we would look to distinguish the building so it fits by scale, by rhythm,
by architecture, all the way across.
virtue of not giving one specific facade complete ownership of college, which will be its most public
presentation. We have set the hotel entry at one side, the retail with residential above to the northeast
corner, and then
an inviting pedestrian way to the center, again, partially to promote additional storefront activation
and places to gather and so forth. Architecturally, taking clues from the municipality, from the area,
recognizing all the sort of salient traits of Bloomington and trying to interpret them, obviously, in
a modern and current and forward-looking way. You want me to keep going?
So a couple of just, again, very conceptual early images here. This would be looking from the convention
center toward the north and west. Thank you. And give you kind of an idea of the hotel holding the corner.
You can see the beeline bridge to the distance there along 3rd Street. Thinking intentionally about
things like, in this case, is there a possibility of allowing the
you know, the retaining wall that starts to dive down underneath the bridge to be a place for public
art. You'll also see a glimpse of that inside the development, but to really try to bring sort of local
life to the project itself. In this particular case, what you'll see here on the left is the hotel.
To the right, the retail and the multifamily component, and the invitation to an urban space in between.
One of the real distinctive nods we have enjoyed exploring is the idea of taking the industrial sawtooth
that's very prevalent right here and reinterpreting that as that geometry turning it on itself,
if you will, facing it to the south and allowing that to be a very vivid opportunity to hold solar panels
in this particular case. So rather than bring natural light from the north, we're bringing real light
to the south and using that environmentally to help bring forward a sustainable building. A sketch from
the west end, looking back up 3rd Street, you can get the idea of a couple of things here. Again, the
notion of a walkway, promoting a walkway from the B line along 3rd Street.
and then also allowing that to sort of be parted at the signature restaurant that would be on the corner.
To the left then, in this view, is the multifamily residential component with the urban space,
if you will, sort of finding its way across to the east, back out, and allowing you to, again, bisect
the site and get back to college.
I think that's... We had diagrammatically, just again, a quick, very conceptual blocking, stacking plan
of having sort of these inverted L's of the hotel on the southeast, the residential on the north, working
down to the public space. The oval in the center could be a kiosk, a nice place to promote local events,
whether it's a...
an entertainment place or a place for short-term rentals, again, an activation. And then, as Vince mentioned,
lower level, using the grade change to our advantage to park more or less at or near grade on 3rd Street,
which is about a story below the main part of the rest of the site. Go back to show some more visuals.
The one thing that I wanted to call out for you guys in our proposal was, as you guys are aware, when
we first worked with the CIB back in 2024, we had selected this site to be the host hotel and ran into
some problems. So we know a little bit about the hurdles in front of us as far as the public incentive
ask. And so we were very thoughtful and considerate in our proposal that we were aware that the RDC
board is able to approve a
we believe a project-based TIF of up to $5 million. That is included in the proposal itself. Much like
our esteemed competition, we also first tried a larger ask and we were unsuccessful in getting that
bridged with the different bodies of the city government. Part of the reason why we are offering a $1
million purchase with revenues from the success of the hotel
over the next several years is to help offset that. We're not gonna come and ask for money upfront.
We're instead gonna help pay for it over time. And that is our way of trying to solve this problem that
there is a shortfall to build this kind of development that the city needs and wants. But we know that
the support isn't there across the board. So this is our attempt to try to bridge that gap.
Before I turn it over to questions, I just wanted to give a chance to Russ online and Travis next to
speak to anything that we might have missed. Russ? You're on mute.
Can you hear me? Yep. All right, thank you. I was, I usually do most of the talking, so I was sort of
feeling left out. So I appreciate giving me a chance to talk there, Vince. But thank you. I developed
several projects there in Bloomington, the Hilton Garden Inn to begin with, Hyatt Place, and also the
Spring Hill Suite. So we're very excited about looking at this one more time. I do think that this has
a lot of synergies with the Host Hotel.
because we can treat these as sister sister hotels if you will we'll be able to join the two together
for four conventions for meeting space and and for several things so there's a lot of synergies that
goes along with with having both hotels and both properties at once so also we very excited to have
Travis and I wanted Travis has a few minutes there so I number one I apologize that I couldn't be there
tonight I just had a previous engagement another another state that I just
couldn't get out of. So thank you very much for entertaining us one more time and considering us one
more time. And I would like Travis to make a slight introduction for himself. Thanks, Russ. Travis Spencil
here. Also apologize that I can't be there tonight. I have a planning commission meeting in another
town tonight starting in about 30 minutes. My apologies. I think from the residential side,
We think there's a real opportunity here for some market rate housing. We're considering both rental
and condos. Our preference would be to do a for sale product here. There's some challenges with that,
both from the market standpoint and from construction standpoint, but we think we can overcome those.
But we are proposing 80 to 100 units, one two bedrooms size units,
that we think would really enhance the project in the downtown and bring something that we don't have
a whole lot of in downtown. With that, I'm happy to answer any other questions. Okay, thank you. I would
also like to congratulate the architect, did a fabulous job in being awarded the host hotel and also
I think his design here is fantastic. So goes a long way toward our proposal.
Thank you to your team for your presentation. We do have the same questions for both respondents, and
so our first question for the DORA team this evening is, beyond the purchase price, explain the form
and amount of the full public subsidy you're proposing and how you arrived at that request.
Yeah, so we arrived at that request based on our knowledge of the RDC governing body and able to produce
a project-based TIF without going to city council for approval. So we feel it's important to ask for
that and we intend to apply that towards our parking, which is gonna be usable by both apartments and
hotel guests. It's gonna be a big need for this site to park on site.
It's going to be important for apartment renters or condo owners as well as hotel guests to have ability
to park on site. So we feel that's going to be a good use of those funds. Other than that, there's no
public ask. It's going to be borne by the developers and partners along with bank financing. Our next
question. Does your proposal require CIB cooperation
And do you need any cooperation based on this project? Are there any other third parties that are required
for your proposal? No. There's no other participation required. We have been in communication with the
CIB team. They're aware of this proposal. And because the host hotel site stays the same with the minimum
requirements on the south site, the proposal that we presented to you guys is a standalone project.
We do have John's blessing and encouragement that they hope that he helps what we succeed, so that we
can bring even more rooms to the market and work in tandem as to sister properties.
kind of getting into the forward thinking here, but the goal would be to have the host hotel as one
major brand, Hilton, Marriott, IHG, et cetera, and then this hotel would be another brand so that we
would have two separate reservation systems and loyalty programs working in concert together to push
occupancy and ADRs for the entire market. I will also, excuse me, tease a slight little bit and a nod
to Travis. He had a great idea for us. It's not for this,
Proposal, but we are working with him on the south side as well because there's extra land available
and so we are going to be forward thinking talking about Market or not market rate. I'm sorry affordable
housing down on the south side to replace the units that are being lost for the demolition coming up
Thank you So did your project require additional land or use of existing facilities given that you've
said this is a standalone project and
but does it require existing facilities or additional land outside of College Square? No. What is your
estimated timeframe to complete the project? If we were awarded the project, it would be probably nine
months of design and pre-development for the architect and engineers to get in there and start drawing
plans. We would bring in our construction partner to help with a price, GMP.
And we've already been talking with banks about permanent financing and construction loans. We have
our equity in place as far as investment partners. So it'd probably be next spring when we can break
ground and start construction. After that, it would be 18 to 20 months roughly before opening. So total
around 27 months. Okay, total 27.
And then in your choice to include housing in the proposal, tell us more about how you chose the type
of housing to include and why. Well, I'm going to turn this over to Travis, but just from a high level,
we feel like the College Square site lends itself to a higher use to go along with the hotel and restaurant
that we're going to be developing. It's on a tighter site than the South site for the CIB.
And with this being an upscale boutique property, bordering on upper upscale and luxury, we felt that
market rate housing or condos would play well into that, as well as the promenade going in the middle
to help support the local businesses that we hope to lease that space out to. But Travis, you go ahead
and jump in. Sure. Number one, if we're able to do condos for sale product, we simply can't do that
and meet the requirements of affordability on this site.
structured parking, four or five story design, we're just not going to be able to meet the affordability
definition of a for sale product. From a market standpoint, if we're leasing these units, we're going
to be designing them to that scale. And so we believe that they would be leasing at also market rate,
which is slightly above the affordable rate. So
That's how we derived at that. We think there's a real need for that in Bloomington's downtown. We don't
have a whole lot of market rate apartments that aren't associated with student properties. We clearly
don't want student here. The RDC has been clear that they don't want student here. We don't think students
appropriate here. So that's how we arrived to the product mix. And that's why we're still somewhere
between 80 and 100 units, because we'll still vet that out as we continue to work on our design.
We're talking about including the amenities to be shared. So there could be a fitness center or pool
area that could be shared between the whole entire development. And we think that's just critical to
making this work at market rate. So the RDC is required to consider the public benefit of a proposal.
Tell us why how your proposal is providing the best public benefit and the highest and best use for
the college square or any other related property involved. Sure. So I think we all know that with the
new 70 to 75 million dollar Convention Center coming up the hotel room needs are going to be great to
help support that facility once it gets fully stabilized and up and running and the host hotel being
200 rooms is going to be
great for helping to solve that, but there's going to be more needs for hotels and rooms. Having this
College Square proposal incorporate an even higher, better use facility, it'll help drive demand for
that upper upscale guest looking for an upscale stay, as well as offering more apartments downtown,
helping to attract young professionals and other
folks that want to stay in the downtown environment. We hope to attract local people to lease the space
that we have available to increase the walkability and traffic along the beeline in college to further
increase the amenity space in that area.
Additionally, I mean the obvious answer is is that without asking for any kind of tax abatement this
property is going to be contributing to property taxes to help support the city whereas right now there's
zero revenue being generated. I think how we both benefit the community is since we've been given the
host hotel on the south side that that we're able to marry these two together and
Design into this one. What the other one might lack or vice versa. I think having the two projects together.
There's a lot of synergy there. Our last question is talking about the risk, the risk that your team
is expecting to assume on the project versus the risk that you'd expect the RDC to assume. So if there
were shortfall, who's bearing it.
Yeah, there is no risk to the city of Bloomington, the RDC, or anyone else. The risk is fully on us
as developers. We are going to be signing personal guarantees for our construction loan and permanent
loan after it's open. And we will continue to bear those risks. So we are fully invested. That's how
I do all my hotel deals throughout the state of Indiana. If I want to put my money into it, I believe
in it. So this project being the same, we assume the risk.
with our bank. Now I did want to make one clarification that Chris reminded me of. I think I misspoke
earlier. We are asking the RDC for that five million dollar project-based TIF and I think I said that
the City Council doesn't have to be involved and I think that's not right. I think they are involved.
So just clarification on that point. Well thank you for your time this evening with your presentation
and your answers to our questions. Thank you. So thank you all
This evening, this concludes the presentation part and we'll return to our regular business meeting
for the RDC. Yeah, we'd like to just take a five minute break just to segue into our business meeting.
Can we request that?
You would like to call short recess. All right, five minute recess will reconvene at 5.48.
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close your eyes. You didn't say I'd see a melon. So. And I'm not seeing a melon today. Oh, there she
is. I'm ready. I'm ready. I'm ready. I'm ready.
Yeah. Yeah. Yeah.
th th th
All right.
It just means we'll have to separate out our parsers. Is that OK? Well, I'm not saying we have to separate
out our parsers. Well, maybe not long enough. Yeah. There's no need. OK. I think I'm fine, right? I
think you're good. You're good? Unless you need me to do something.
And then I want to.
I mean, you know, there had been times when she'd know that really physical brain stuff. That could
just go all the way in until it just sprang in. You know, we have one screen, which has to be in separate
ones. So it's literally when we finally find it. And then how we're working towards the end. It's just
not a lot of work. Yeah, I mean, you know, and that's just a step that we always take.
Yeah. Yeah. Yeah.
You know, we have done some of these things to get some of those priorities. Not just the two things,
but... No, it's not like that. But, you know, like a lot of these things, I do have one that I think
is great and I like that it's just because my sister's father, you know, they have the hammer. But I
used to tell them they were waiting for
Yeah, they're at the mall, so they can start the animation at the new place.
And now that is the problem.
Yeah, absolutely. Appreciate it.
I'm going to ask if all commissioners could return to the meeting area, please.
Okay, we're gonna conclude our recess for the redevelopment commission meeting for the city of Bloomington
for August 3rd, 2026. And we will resume our agenda with a review of the minutes. Any comments or questions
from commissioners on the minutes? We have minutes from an executive session summary from July 20th,
2026 and minutes for July 20th, 2026. We'll invite a motion for both collectively if you wish to separate
it, please indicate.
I'll move approval of the minutes for both sessions. Second. We've got a first and a second. We'll do
a vote by a roll call, please. C. Scambaleri, yes. John West, yes. Randy Cassidy, yes. Deborah Meyerson,
yes. Motion passes unanimously. Next item on our agenda is the payroll register from July 24th, 2026.
Any questions or comments from commissioners? If not, I'll ask for a motion.
Move approval of the payroll register for July 24th. Second. We've got a first and a second, we'll take
a vote by roll call please. Steve Scambaleri, yes. John West, yes. Randy Gassity, yes. Laurie McRobbie,
yes. Deborah Meyerson, yes. Motion passes unanimously, thank you. Next on our agenda is reports. Do
we have a director's report this evening? No report, happy to answer any questions.
Thank you. A legal report? Nothing specific, so I'm also here for questions this evening. Thank you.
Under Treasurer's Report, do we have a TIF status report? Jeff McKim. As you mentioned, the TIF status
report is back in your packet. The only thing I just want to call attention to is that there are
two new fund balances that are being listed thanks to Christina's brilliant suggestion. We're including
the remaining bond proceeds funds there as well. And I think, as you know, the Fourth Street Bond Proceeds
Fund that has about $446,000 is going to become more important as we conduct
Analysis and necessary repairs on the to the water issues related to the 4th Street garage I would anticipate
that in the near future You'll have a more detailed report on the findings for 4th Street garage, but
I don't want to steal Jess's thunder, but happy to answer any questions Thank you Next item on our agenda
is the business development update we have a report and
Director Cooper Smith is not with us this evening, so there is no business development update.
That's fine. We will hear from her next time. So the first item of new business on our agenda is resolution
2618, designating and declaring a certain area as an economic development area, the Hopewell South EDA,
and improving an economic development plan for the said area, establishing a residential housing program
in said area. And who would like to speak to that?
Thank you, Dana Kerr with legal and I have Justin Chang with 3D financial with me this evening to discuss
this. This is a very.
It's very, very similar to the summit EDA that we created and with the Shasta Meadows residential allocation
area. This will just be one allocation area for the entire Hopewell South development since it's just
one neighborhood. And the purpose of this is so that we can create the residential TIF. The Hopewell
South is going to require
quite a bit of, as you know, subsidy to get it going in infrastructure, roads, utilities, design that's
already been underway. So there's gonna be a lot that goes into that. By creating the residential TIF,
it'll allow the RDC to be able to recoup, so to speak, some of those costs that they're putting in for
the infrastructure,
plus also with generating revenue from that, that revenue can be used.
in other projects around that EDA Hopewell South that would help enhance the Hopewell South development.
So the process that this goes through is exactly the same as before. It comes to you tonight as a declaratory
resolution, then it will go to the plan commission for resolution, and then onto the common council,
and then it'll come back
for a public hearing to the redevelopment commission and a confirmatory resolution at which time it
would establish the economic development area. The EDA is an economic development area. And then there
is a remontrance period shortly after that. But Justin is here to add anything he would like to to that.
Thank you, Dan. I think you pretty much touched on everything. This is very similar to that, if not
exactly the same as the summit TIF. Really the only change, and not really even a change, because we
made an amendment to the declaratory for summit, is that previously residential TIFs get a 20-year life.
But since July 1st, they now get a 25. So this will follow a commercial TIF lifespan. So other than
that, it's pretty much the same as JASTA Meadows. But I'm happy to answer any questions that you all may have.
Correct, and the 25 years begins on the first payment of an obligation on that TIF. So it doesn't start
as soon as it's created, it starts as soon as there's an obligation that is supported, the payment is
supported by the TIF. Thank you for that presentation. We have any questions or comments from commissioners
on resolution 2618.
This is a staff question. I don't know who would want to answer it And this is also a bit of a crystal
ball question, but would you anticipate? this type of tiff being required for All or most of
the neighborhoods that are going to be built in Hopewell It likely would because each of these neighborhoods
are going to require
likely require some sort of additional subsidy or work to allow them to succeed. So there is a good
chance that they could. It does depend though, if the private market is allowed, is used to develop
certain blocks, then they may not need to be. But if certain blocks are,
there needs to be some sort of further infrastructure that the market can't provide to allow development,
then there may well be a need to add another TIF for that particular block. It's just too early to know,
likelihood probably, but it's unlikely to know at this point in time.
Just one follow-up question. So that said, and with the process that you outlined, how long will it
take if you were going to do virtually every neighborhood? What kind of lead time do you need to actually
get a TIF approved? Because you're making those decisions as you're trying to develop the property,
and you can't say, well, maybe we need a TIF and then run off and get it.
Yes, it starts tonight with a declaratory resolution and I believe in September would be the confirmatory
resolution. So it takes a couple of months to go through the process. Thank you. Any other questions
or comments for commissioners? Otherwise we will open it for public comment on resolution 2618.
not seeing anybody online or in person, I will open it for a motion for this resolution. This is for
resolution 2618. Move approval of resolution 2618. Second. We have a first and a second. We'll do a
vote by roll call, please. Lori McRabbie, yes. Steve Scambillari, yes. John West, yes.
Brandi Cassidy, yes. Deborah Meyerson, yes. Motion passes unanimously for resolution 2618. Next item
on our agenda is resolution 2648. 2623, excuse me. I jumped ahead. 2623, which is the approval of an
agreement for parking space at the trades district garage
With Alan I you trades district hotel LLC who would like to speak to that? I'd be happy to take that
Commissioners resolution 2623 is the final administrative step needed to implement the parking provisions
That were included in the previously approved sale of the hotel parcel in the trades district rather
than creating
Reserved or exclusive parking this agreement allows the hotel to purchase up to 170 monthly parking
permits at the same market rates established by city ordinance Parking will continue to be administered
through parking services and the hotel is responsible for its own operational and integration costs
Approval of this resolution simply effectuates the parking commitment already contemplated in the real
estate agreement and authorizes staff to execute and administer a
How many parking spaces are in the garage? I don't remember off the top of my head I can certainly help
but it was there were a significant number I want to say it was somewhere between four and six hundred
but I don't quote me on that I can get it and report back and these these particular spaces that we're
dealing with
Market rate first come first serve and it's up to it'll be up to the hotel for them to police accordingly
Say that last part it'll be up to the hotel to regulate and they're not Garrett We'll guarantee him
270 spaces if they're available If available, okay. Thank you Any other questions or comments
from commissioners on resolution 2623 if not, we'll open it for public comment
May I correct something the controller just was able to pull up the number of parking spaces. It was
350 Thank you for that answer Yeah, so how many spaces are allocated to the hotel if they purchase them
I believe it's 170
So we've got that question clarified from commissioners. Anything else from commissioners? Otherwise,
public comments available for 26-23. My name is Audrey Smith. As we discussed the parking situation
for this hotel, I just want to speak to that more generally with hotels in the downtown area and in
regard to the proposals that we heard earlier for a new hotel.
Parking is already on everybody's mind. This hotel that we're talking about right now is a little bit
further from downtown. There's a little less competition. But I just want to read the locations of the
hotels that we already have downtown and then these two hotels that are under consideration both at
the College Square property and the Convention Center Hotel. So as you travel down College Avenue, we
have a hotel at 9th Street.
We have a hotel between 7th and 6th. We have a hotel between Kirkwood and 4th Street. That one's over
by the V line. It's not visible from college. We are considering proposals for hotels between 4th Street
and 3rd Street and right around where Smith Street is. And then we, of course, already have the hotel
for the convention center that already exists. So how many hotels do we need?
That's my question. And who are we making space for in downtown Bloomington. Thank you. Any other public
comment either online or in person. If not I will take a motion from commissioners on resolution 26
23. I'll move approval of resolution 26 23. Second.
We've got a first and a second. We'll take a vote by roll call, please. Laurie McRobbie, yes. Sue Scambaleri,
yes. John West, yes. Randy Cassidy, yes. Deborah Meyerson, yes. Motion passes unanimously for resolution
2623. The next item on our agenda, we've got three resolutions I'm going to invite the commissioners
to consider collectively because they all are addressing amendments to 2025 CDBG physical improvement
grants for respective agencies.
Who would like to speak to that? Matt 20 with the hand department We have three amendments that all
are pretty much in the same boat here Rising costs caused a need for additional funding for the
25 Life Designs Amendment. Originally it was $18,974.29. We're gonna raise that to $22,000. That's to
cover an increase in costs. For Middleway House, the original amount was $9,418. We're gonna raise that
to $45,000. That project started out as just a replacement of the railing for the elevator to keep it
in compliance
They since have a new maintenance contract with the new company who uncovered significant larger amount
of repairs needed to the elevator and elevator shaft to keep it in compliance. So that's the reason
for the increase there. Summit Hill Community Development Center originally had a grand amount of $136,103.
We are going to increase that to $249,500. We have an additional larger scope now to include some ADA
compliance and also connecting and incorporating the community garden that's already on site. Plus once
they got to the design stays with the playground,
some additional things had to be taken into consideration, which drove the cost up. So I'd happily answer
any questions on those. Thank you. Thank you for that presentation. Any questions or comments
from commissioners on these three resolutions? And if there's anything you'd like to separate, please
let me know. Otherwise, the proposal is to vote on them collectively, as well as ask any questions about
each of them in this comment period. From a collective standpoint, Matt,
the additional monies that are hum, we have the adequate funds to take care of the increases? Yes, sir.
Okay, without going over any budgetary or having to change funds? No. Okay, thank you. Any other questions?
Otherwise, I'll open it for public comment for these three resolutions, 2648, 2649, and 2650, either
online or in person. Seeing none, I will ask for a motion for these three resolutions.
I'll make a motion to approve resolution 2648 2649 and 2650 as presented. Second. We have a first and
a second. We'll do a vote by roll call, please. Lori McGrady. Yes. C. Scambaleri. Yes. John West. Yes.
Randy Cassidy. Yes. Deborah Meyerson. Yes. The three motions passed unanimously. Excuse me. The three
resolutions passed unanimously.
Next on our agenda is resolution 2651, which is approval of 2026 CDBG physical improvement grant agreement
with my sister's closet. Would you like to speak to that? Yeah, me again. This is the 2026 agreements,
the first of our 2026 agreements. I wanted to go ahead and get this one ready to go, because this project
is waiting. They're ready to go as soon as we get our funding from HUD.
They purchased the building at 12 for West 2nd Street and that's going to be their new location and
they're going to have all their services and a much large larger nicer building once they make all the
renovations to it's going to be really great for them. Thank you. Well open for questions or comments
from commissioners on resolution 2651.
Seeing any, we'll open it for public comment on resolution 2651, either in person or online. Not seeing
any, I will ask for a motion for 2651. Move approval of resolution 2651. Second. A first and a second,
we'll do a vote by roll call, please. Lori McRobbie, yes. Steve Scambaleri, yes. John West, yes. Randy
Cassidy, yes. Deborah Meyerson, yes.
Motion passes unanimously for resolution 2651. Thank you. Thank you. Next in our agenda is resolution
2652, which is addendum number one with the environmental engineering LLC for environmental services
at College Square. Who would like to speak to that? I think Dana and I will take tag team this a bit,
but I will start out with some framing.
This resolution is part of our due diligence efforts at College Square that completed additional
environmental investigations in coordination with Indiana Brownfield's program. During that work, evidence
of historic underground storage tanks was identified. Before the property can move forward
towards redevelopment, we need to determine whether those tanks remain, remove them if necessary, remediate
any associated contamination,
and obtain the documentation required to pursue environmental site closure. The resolution authorizes
an addendum with VET environmental engineering for this investigation, remediation, regulatory coordination
and site closure in an amount not to exceed $156,755.25. Completing this work now will reduce redevelopment risk
protects the RDC's investment and positions the property for appropriate future redevelopment. And there's
not much I can add to that. It was very good. And we already have a contract. So again, an addendum
is the appropriate way to amend this. And as stated, we need to address what's going on there at College
Square anyway. And so going ahead and taking those measures
will only help the further steps that you take with that property. Thank you. I'll ask for any questions
or comments from commissioners on resolution 2652. Yes. I realize that the ship is sailed,
but when this body, not us, but the RDC purchased this, was there not
environmental studies done at that time? There was. Is there any record of environmental studies being
done at that time? There was studies done. There was things noted in those studies. The purchases went
through what was actually, you know, I can't
explain the decision-making process that happened at that time. That was vague enough, thank you. Just
to clarify, we had one done, it didn't identify it, we found something now that needs to be cleaned
up. Well, there's been a number of studies done through the years and some of the studies have revealed
potential concerns.
When VET came in, they did a comprehensive review of a number of reports that were done and identified
areas of concern that they thought needed some additional work. They went out and looked at those under
the first contract, found that yes, this is an area of concern. We need more information regarding and
And it was directed by item wanting that additional information. And so that's what led to these next
steps. Again, what went into this decision making before I can. So just to be 100% clear, we're doing
a time material basis not to exceed $156,755 and 25 cents. This should clean everything up so we can
move forward with this property
to move on to the redevelopment phase of this property. Just want to clarify. We don't have any more
things we have concerned. With all environmental projects, it's like an old house. Once you get into
it, you're never sure what you might come into. So I don't think there's any guarantee. This is what,
based on they did do some,
investigation work and so it does appear that they did a good job with that work from what I've looked
at and so I I'm not expecting anything additional but I there's no way I can stand here and guarantee
you that something won't pop up but this is you know that all likelihood this should solve it but I
can't guarantee it given given once this potentially is executed do we have a time frame that
They tentatively have this on the schedule for September to start work, which is the soonest available
that they had. And I believe that the time is also ticking with IDEM and Brownfields just with that
coordination. At this point, they've given directives of what needs to happen. And if we delay any further,
they could reserve the right to review that and make a new finding. I don't know that that would happen,
but this would just resolve it succinctly.
From this site work, it would appear that they could get the site work done within a couple of months,
a month or two, how long it would take to then put that through IDEM to have their review. Again, we
would have no control over that. It may be after the first of the year before we can get responses back
from IDEM. Realistically, this can start in September,
be taken care of and then we're into the state and the paperwork with a good potential possibility that
by next spring or this time next year, we would be able to have a clear, I understand there's things
we don't know. Yes, there's a good potential for that to occur, yes, sir. Okay, thank you. Thank you.
If there's no other questions or comments from commissioners, I'll open resolution 2652 for public comment.
either online or in person, not seeing any, I will ask for a motion for resolution 2652. I'll make approval
to approve resolution 26-52 as presented. Second. We have first and a second. We'll do a roll call,
please. Lori McGrady, yes. C. Scambaleri, yes. John West, yes.
Randy Cassidy, yes. Debra Meyerson, yes. Motion passes unanimously for resolution 2652. Next on our
agenda is resolution 2653, which is amending the declaratory resolution at the Consolidated Economic
Development Area and the Consolidated Economic Development Plan, removing certain residential parcels
and regarding related matters. Who would like to speak to that?
Dana Kerr from Legal again, as well as Justin Ching from Reading. This is going to be following the
process alongside Hopewell South. So this is the declaratory resolution, amending the declaratory resolution.
So after tonight, this will also go to the planned commission with Hopewell South, then Common Council
with Hopewell South, and then back and have a public hearing
with the Redevelopment Commission and a confirmatory resolution, just like Hopewell South, it's going
to be going along the same process at the same time, to let you know that. This one's a little different,
and I'll again try to explain, and Justin can correct me when I say it wrong. So what this is, is there
are a number of parcels of land
that are in the consolidated TIF that are residential in nature. And the way the DLGF has been running,
having the auditors run the software program to account for residential properties has changed based
on their direction. And so now those parcels
while they were able to account for them before in the auditor's office to kind of balance their negative
impact, what negative impact they would have out, they can no longer do that. So us along with many,
many, many, many other communities, RDCs are looking to pull out those residential parcels so that they
won't have a negative impact on the revenues.
Without doing this, next year's revenues could be affected by approximately $360,000 less by leaving
these parcels in. So the purpose of this is to remove these truly residential parcels from the consolidated
TIF to keep that reduction in overall revenues from happening. It has no impact.
On the residential park properties, there are a few residential properties that we are leaving in because
of within the consolidated tiff. There's a few areas where there's little bottlenecks that connect the
tips and a few of those are residential properties and we do not want to break the continuity of
the tiff and separate it. So we want to keep it together. So we're leaving a few parcels in.
About a dozen, there's 12 of them. So we're leaving those in. They should have just 12 parcels, pretty
minimal impact. But this is an effort that many, many, many RDCs, if they're not doing it, they should
be doing it, of removing residential parcels from their regular commercial type tiffs to,
keep them from being counted against the revenues for the TIF. Thank you. Just to provide a little bit
of elaboration on a few things that Dana mentioned. How this came about to be an issue is actually due
to the TIF neutralization process. Essentially, we work with the auditor on determining what assessed
value growth is capturable from year to year.
And in the neutralization form that we fill out, it tells us, so for this year, we just completed the
forms for Bloomington. It says next year, let's just say one of the Bloomington TIFFs should receive
$10 million in incremental IV. When we received the parcel list from the auditor's office, we noticed,
instead of saying $10 million, we're seeing $7 million instead. And so we start to work with the auditor's
office and the software providers to find out why.
what caused this discrepancy, and from discussions with the software provider, so Monroe County uses
Lau, they told us that there was sort of a change in how they handle residentials based on what the
DLGF is telling them. Essentially before, residential parcels didn't affect the TIFFs at all, it didn't
benefit them, it didn't really hurt them. Now they can only hurt commercial TIFFs, which is why it's
important to pull those out
of the consolidated TIF. And Dana mentioned it's about a $360,000 savings we could save in 2027 if we
do this now. Unfortunately, this actually did happen last year. So this year, if we're looking at TIF
revenues, our TIF revenues were actually already about $300,000 lower than what it should have been
if we were to cut it earlier. That is to say, we couldn't have done it, cut it earlier,
earlier than we already did just because it has to come after the neutralization and CNAP process, but
this $360,000 impact will continue to happen each and every single year if we don't remove them from
the TIF allocation areas. Thank you for the presentation on resolution 2653. I'll open it for questions
or comments from commissioners. This only has to do with
We missed it last year, but it's due to the state law change from Department of Local Government Finance.
It's not a legislation change, just the DLGF did not think the software was handling it correctly, but
it's not a legislation change, that is to say. That also is not really something the county auditor
can control either. It's just how the software is do the math when you input the neutralization factors
and get the
Assess values for the next year By removing these this clears it up. We don't have a software issue
and we don't have a monetary loss Correct. Correct. And there's no impact on the taxpayers. Their tax
bill will not change because of because of this the relative removal Other questions from commissioners
I Have two questions one is just administrative in the packet. There's an attachment a for a map, but
there's no map for
Is that intentional or what's the, just help me understand that, because I can see all the parcel numbers,
but I'm curious about the geographic locations of what this is and the map's not there. Yes, Mr. Cassidy
asked me about that earlier today. This is the declaratory resolution. We can, without slowing down
the process, because we need to get this,
going because of when they do the calculations. We can amend that and we are, I am working with GIS
in Bloomington, the Bloomington GIS to create a map for you that will show you exactly which parcels
these are so that you can see them on a map. And then it's also going to show which parcels that we
are going ahead and leaving in to make sure the continuity matches up as well.
So that map is in preparation. It's just not quite finished up yet, but the parcel list includes the
parcels for identification purposes. So when would the map be available to the public if they wanted
to see it since it's not on our packet? Yes, as soon as the map is available and we're
getting close to having it done, I will stick it with the resolution and make sure that it is part of
the packet and so that it is available for viewing. Okay, thank you. It's kind of hard because there
are little bitty parcels and it's a big city map of the whole area. Might be more than one map. Yeah,
so we're trying to figure out a way to make it so that it's readable. And so that's what's
kind of hard about it. On GIS, it's easy, because you can zoom in and out, but to put it in a format
where you can have a static copy is hard, and that's what we're working on. But the parcel list is,
again, the identification part. Okay. My other question was just, is there any possibility or opportunity
for an appeal for Frisco Year 26, just given that this wasn't a legislative change, it was something
that was simply
delivered via software in terms of that shift, in terms of just the lost revenue that was not really
any intentional thing. It was just kind of how things turned out based on the change in software. As
an appeal with the county auditor, see if we can get those tough revenues. Unfortunately, we don't think
it's possible just because when certifications go out,
the way that assessed values work, there's underlying units that are in play, levies and tax rates are
in play based on these assessed values. So we can't go after abstract comes out and say we want these
dollars back. So unfortunately no, but that's also why it's important to take that step now to make
sure we can fix it for page one and 27. And actually we are already,
We already notified the county auditor of this happening so they can sort of be ready for when we do
remove these parcels to make sure it doesn't affect those certified assessed values. Okay, thank you
very much. So no other questions or comments from commissioners. I'll open it for public comment in
person or online. Not seeing any, I will open it for a motion on resolution 2653.
I'll make a motion to approve resolution 2653 is presented. Second. We've got a first and a second.
We'll do a vote viral call please. Lauren McRobbie. Yes. See scambler. Yes. John West. Yes. Randy Cassidy.
Yes. Deborah Meyerson. Yes. Motion passes unanimously for resolution 2653.
The last item of new business on our agenda is resolution 2654 approval of a lease at the forge with
Prometheus Energetics LLC. Who would like to speak to that? Good evening, John Fernandez from Amplified
Bloomington. Let me pull this up here real quick. Hopefully the memo I sent was straightforward
clear enough on what's happening here, but just to recap for the public. You know last December. December
15th a RTC approved a lease with Prometheus energetics for 2400 square feet in the forge. That lease
included a right of first refusal to expand and take the remaining 1800 square feet on that first floor
of the building. They have
expressed the interest of doing that and taking the additional 1800 feet. When we looked at the way
to approach this, it made more sense to us to instead of doing a new lease for what's considered unit
101, we would just or unit 100 that front piece, we would just replace that lease with a new lease that
covers all 4200 square feet. All the terms for the
lease are the same as the December 25th lease in terms of the monthly rate, the CAMS, all that. It also
is the same term, the three years with two or three additional rights to stand on an annual basis. The
tenant improvement allowance is the same.
as it's been for the other 2,400 square feet. The way it's set up is that once this is executed and
approved by the Redevelopment Commission, the commencement date for the lease would be either 100 and
make sure I get this right.
150 days after execution or completion of the new tenant improvements, whichever comes first. And what
that'll do is that it resets that three year period for the entire 4200 square feet based on that day.
So it's kind of by some additional time, but that's really the long and short of it. And I'd love to
get the redevelopment commission's approval for this new lease.
Great, thank you for your presentation. We have any questions or comments from commissioners on resolution
2654. So John, while while we are waiting for the leasehold improvements for the new space, new collected
space, are they still paying rent on 100? Yeah, they're continuing to pay their lease, the original
lease and then the new
total amount will kick in with the commencement date of this lease. But in the interim, they're continuing
to pay the rent that they're paying right now. And I should note why we're at it that with this lease,
if it's approved, we'll be at a 100% occupancy. So we need you to build another building. No, just kidding.
That's for John's benefit.
And the mills paying for that your your funds paying for it's not coming out of redevelopment.
Pardon me. Your fund is paying for it. Yeah. So we're good. Okay. And just comment Prometheus is a great
up and coming entity in our community and it's grateful to have Yeah, they're gonna for what it's worth
like pull it up here.
They currently, you know, their plan was to hire 13 people right now for the 2,400 square feet. That's
been moving very quickly as they've brought a lot of people into our community from other parts of Indiana,
but also from out of state, which is really nice from an economic development perspective. Over the
next six months, they plan to add another 20. And their current compensation is
It's higher than it's going to be, but for the entire building right now, our average wages are $136,000
a year. So it's doing what you all had hoped for. Appreciate it. Okay. If there's no other questions
or comments from commissioners, I'll open it for public comment. Not saying anything in person or online.
I will ask for a motion for resolution 2654.
Move approval of resolution 2654. Second. Got a first and a second. We'll do a vote by roll call, please.
Lori McGrady, yes. C. Scambaleri, yes. John West, yes. Randy Cassidy, yes. Deborah Meyerson, yes. Resolution
2654 passes unanimously. Thank you. Great. Thank you all. That is the last item of new business on our
agenda this evening. We have a motion to adjourn. So moved. Thank you all this evening. Thank you.