The Bloomington City Council voted last night to borrow up to forty-eight million dollars for the city’s Redevelopment District, also known as the downtown TIF district. The bond funds are to be used to finance infrastructure work in the district. Mayor Mark Kruzan lobbied for the measure at the May 13th meeting of the council. Kruzan spoke again last night.
“Bloomington Indiana in the last decade with this councils support and some of your predecessors have faced down a recession to invest in itself,” Kruzan explains.
About two-thirds of the bond funds — or twenty-five million dollars — are to be spent on the Switchyard Park Development on Bloomington’s south-side. Other priorities include rehabilitation of the city-owned Buskirk-Chumley Theater, promoting construction of affordable housing and installing infrastructure in the Certified Technology Park. A portion of the money is also intended for improvements to city parks, renovation of the animal shelter, and police department and sanitation facilities.