By: Diane Benjamin
The downtown Bloomington TIF is back on the agenda for Monday night. See the project in the packet here: http://www.cityblm.org/Modules/ShowDocument.aspx?documentid=11529
The TIF discussion begins on PDF page 181.
A list of included parcels is on pages 265-266. The picture below is on page 267:
Property “5” is owned by the City of Bloomington. The other numbers highlighted in yellow are NOT owed by the Huff’s – all the rest are. Maybe the TIF should be named the Huff bailout instead of Downtown-Southwest Redevelopment Project Area.
The Ensenberger parcel ID’s are not included on the list and the name “Ensenberger” isn’t used anywhere in the documentation. I hope that means the almost empty condo building isn’t eligible for more TIF money.
The pic below is from page 229. It looks like the City is ready to bond $27,900,000 and hopefully pay if back with TIF income. “Hopefully” because if the TIF doesn’t generate that much income the taxpayers of Bloomington will be paying the bill.
Keep in mind:
The Coliseum was never going to cost you a dime. The then Mayor and Council said it would generate enough income to pay for the construction bonds.
Of course, it never has.
Creating Coliseum 2.0 must be regarded as a mental illness.
The only cure is voting for people who don’t think Uptown is the right vision for downtown Bloomington.
Your one and only chance is early next year.