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From YouTube: Annexation Interview with Mark Figg
Description
In the ongoing conversation about the City’s proposed annexation, real estate professional Mark Figg considers the benefit of annexation for the area's housing supply issues and as an essential ingredient in economic development.
Figg has served as Chairman of the Board of Bloomington Economic Development Corporation and President of the Monroe County Apartment Association and on the steering committee that oversaw the completion of Bloomington’s most recent housing study in 2020.
bloomington.in.gov/annex
A
As
part
of
our
ongoing
conversation
about
the
city's
proposed
annexation,
we're
speaking
today
with
mark
figg,
a
bloomington
native
who
is
a
long-time
real
estate,
professional
and
business
leader,
mark
you
own,
the
fig
property
group
and
kirkwood
property
management
in
2019
and
2020.
You
were
chairman
of
the
board
of
the
bloomington
economic
development
corporation
and
president
of
the
apartment
association,
and
you
were
on
the
steering
committee
that
oversaw
the
completion
of
bloomington's
most
recent
housing
study
in
2020..
So,
given
that
background,
we'll
be
focusing
on
the
role
of
annexation,
vis-a-vis,
our
communities,
housing
issues.
B
Well,
it's
you
know,
I
think,
the
best
way
to
just
capitalize
it
is.
We
have
a
supply
and
demand
imbalance.
We
don't
have
enough
to
supply
to
meet
the
demand
and
I
believe
that's
been
coming
for
quite
some
time,
probably
over
the
last
20
years,
but
really
become
more
pronounced.
The
last
10
to
15,
especially
lately,.
A
So
you've
obviously
seen
that
not
only
in
your
professional
capacity,
but
also
working
with
the
steering
committee
for
the
housing
study.
What
did
the
housing
study
tell
us
about
the
kinds
of
housing
forms
that
bloomington
needs,
and,
and
how
do
you
think
that
the
updated
udo
and
the
zoning
changes
can
help
with
that.
B
Well,
that
housing
study
was
great
because
it
was
timely
because
you
know
remember:
we
passed
the
udo
in
the
city,
the
new
development
ordinance,
which
then
needed
to
have
a
map
drawn
to
match
those
goals.
So
the
housing
study
really
informed
that
process
through
city
council
to
be
able
to
decide.
Okay,
what
zoning
do
we
want?
Where
so
that
document?
You
know
basically
said
that
we
need
housing
of
all
types,
rental
and
owned,
affordable,
and
you
know
expensive.
You
know
all
across
the
board
and
you
know
really
called
that
out.
B
So
the
new
map
that
was
drawn
really
did
match
that
the
greatest
example
I
can
give
with
that
was
you
know.
Obviously,
student
housing
noise
is
an
issue,
and
so
the
city
udo
allowed
more
density
close
to
the
university
for
that
and
actually
has
basically
a
student
housing
designation.
So
you
can
already
see
evidence
of
that
with
brownstone.
B
B
Well,
annexation
will
allow
some
other
parcels
that
are
not
in
the
city
now
to
be
under
a
new
zoning,
which
would
be
the
udo
I
mean
a
zoning
designation
would
have
to
be
set
for
those
annexed
properties
in
the
that
will
become
the
city
and
that
will
allow
the
udo
to
apply
to
those
and
allow
more
density.
I
think
the
primary
reason
that
I
am
in
favor
of
housing-
you
know
annexation
or
annexing
ground
for
new
housing
is
the
county,
has
really
not
been
allowing
density
in
some
areas.
That
would
be
annexed.
B
B
B
B
So
you
know,
I
think
one
of
the
primary
reasons
to
allow
annexation
to
occur
is
for
the
city
to
continue
to.
You
know,
expand
the
utility
services,
because
you
cannot
make
a
dense
development
without
city
sewer
and
the
county
doesn't
have
sewer
in
effect,
and
I
would
have
to
say
if
I
mean
I
know
there
are
exceptions
to
everything.
But
if
you
were,
let's
just
say,
you
were
going
to
take
a
neighborhood
in
the
county
on
40
acres
and
make
your
own
sewer
system
for
that
neighborhood.
B
B
B
The
bdc
is
discussing
it
now,
but
not
necessarily
going
to
take
a
position
or
you
know
hasn't
concluded
that,
but
my
opinion
is-
and
it's
not
just
my
opinion-
the
our
board
of
bloomington
economic
development
corporation
actually
made
housing
scarcity.
Our
number
one
economic
development
impediment
so
and
that's
been
over
the
last
couple
of
years,
which
we've
never
had
worried
about
that
it's
always
about
job
creation
and
infrastructure
and
land.
B
For
you
know,
employers-
and
you
know
it's-
you
know
zoning-
to
match
that
it's
all
about
housing
now,
so
we
have
companies
that
are
actively
growing
here.
We
have
companies
that
want
to
come
here,
and
you
know
our
housing
cost
is
always
a
concern,
but
housing
scarcity
is
a
really
a
big
concern
because
you
can
create
a
job,
but
if
that
person
can't
doesn't
have
somewhere
to
live
it
just
pretty
much
eliminates
bloomington
from
consideration
on
on
many
levels,.
A
B
B
You
know
has
been
you
know,
beating
that
drum
for
several
years
now,
because
they
have
employees
and
need
to
grow
so
much
and
they
just
don't
have
infrastructure
to
there's
just
not
housing
to
fulfill
those
needs.
And
you
know
a
lot
of
people
also
live
in
other
counties
and
come
here
which
that's
not
a
bad
thing,
but
you
know
if
we
can
have
those
employees
that
have
that
are
on
a
monroe
county
payroll
pay.
B
You
know
taxes
in
bloomington.
That
would
be
nice,
so
we
just
need
to
have
more
supply,
but
I
think
the
other
thing
I'm
really
worried
about-
or
I
think
about-
is
we
have
this
supply
and
demand
imbalance
in
these
problems.
Now
one
of
the
things
that
I
think
about
is
you
know
we
do
probably
have
an
inflationary
environment
which
generally
translates
into
interest
rate
increases
interest
rates
now
are
at
historic
lows.
So
we
talk
about
housing,
prices
being
so
high
right
now.
B
Well,
it
will
only
go
up
because
it's
not
just
the
price
of
the
home.
Most
people
have
a
mortgage.
If
you
pay
more
interest,
it's
less
affordable.
So
you
know
we
really
do
need
to
address
this
now
to
be
able
to.
You
know,
it's
still
going
to
be
a
problem,
even
if
we
address
it
now,
but
it
will
be
hopefully
less
of
a
problem.
A
B
You
know
back
then,
and
I'm
not
into
the
vagaries
of
the
legal
machinations
of
how
that
all
plays
out
in
terms
of
validity
of
those
documents,
but
I
will
say
that
you
know
my
taxes
are
going
to
go
up.
I've
never
been
in
favor
of
higher
taxes,
but
I
do
believe
that
you
know
you
know.
I
have
four
sons
and
I'd
love
to
see
them,
have
great
futures
and
be
able
to
buy
homes
and
have
opportunities,
and
you
know
I
I
would
say
to
my
neighbors
that
we
can
sustain
higher
real
estate
taxes.
B
I
mean
it
is
going
to
be
some.
It's
not
nothing.
It's
a
real
real
amount
of
money,
but
I
think
we
can
sustain
higher
taxes
better
than
we
can
sustain.
Continuing
drastic
price
increases
in
housing.
So
I
mean
it's
something
to
remember
I
mean
our.
I
think
our
city
and
county
our
community
successfully
grew
over
a
long
period
of
time
and
was
managed
well
through
those
times,
because
in
prior
years
we
had
a
two-mile
fringe.
B
Maybe
it
wasn't
exactly
a
net
positive,
but
I
think
the
the
larger
message
is
having
zoning
and
infrastructure
planning
control,
you
know
was
a
good
thing
and
it
allowed
developers
and
and
community
builders
to
have
a
clear
path
on
what
to
do
next,
and
I
I
feel
like,
since
you
know,
that's
been
17
years.
I
think,
since
we
did
our
last,
you
know
normal
annexation.
B
You
know
08
we're
still
not
building
homes
back
to
that
level,
which
is
crazy
to
me,
if
you
don't
annex
and
have
property
that
has
clear
zoning
and
infrastructure
to
match
we're
not
going
to
keep
growing
our
housing
stock.
It's
just
you
know.
The
county
has
clearly
signed.
You
know
signaled,
based
on
recent
decisions
that
they're
not
going
to
densify.
B
So
it's
just
the
wrong
way
to
go.
I
mean
so
here's
the
thing.
If
the
current
city
boundaries
only
contain
a
very
fixed
amount
of
land
on
which
more
development
can
occur,
and
so
the
land
that's
left
in
the
city
now
really
can't
satisfy
that
demand.
That's
in
the
market,
so
either
the
city
has
to
expand
and
annex
to
be
able
to
allow
more
development
or
the
county
has
to
allow
more
development.