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From YouTube: Bloomington Redevelopment Commission, September 27, 2023
Description
Bloomington Redevelopment Commission Documents:
https://bloomington.in.gov/boards/redevelopment/meetings
A
All
right
good
good
evening,
everyone
and
welcome
to
the
Redevelopment
commission
a
special
meeting
on
September
27
2023..
First
time
on
the
agenda
is
a
roll
call.
Is
here.
B
D
B
A
Right
next
item
on
the
agenda
is
new
business
resolution,
23-72
approval,
Gap,
funded,
amended
project
review
and
approval
form
for
the
trades
District
pep
Center.
We
would
like
to
speak
test
regarding
this.
F
I'm
happy
to
do
it:
I'm
John
Fernandez,
from
the
dimension
Mill.
We
are
the
city's
partner
in
advancing
the
trades
District
Vision,
as
well
as
this
particular
building
on
behalf
of
the
Redevelopment
commission
and
the
BDC.
F
So
this
all
started
with
an
Eda
grant
that
the
city
obtained
back
in
2021
for
three
and
a
half
million
dollars
to
build
a
22
000
square
foot
purpose
bill
Office
Value
this
multi-tenant
office
building
is
designed
to
complement
the
existing
activity
at
the
Mill,
focusing
more
on
growth
stage
companies
and
more
mature
companies
that
can
contribute
to
that
Tech
base,
Economic
Development
efforts
and
to
be
a
catalyst
for
additional
private
investment
in
the
trades
District
itself,
the
city.
F
You
know
the
original
estimates
for
this
building
were
really
finalized.
If
you
will,
in
April
of
this
year
when
the
construction
drawings
were
fought
far
enough
along
and
based
on
those
estimates,
we
thought
that
the
building
was
going
to
cost
about
8.6
million
and
based
on
that
estimate,
we
were
able
to
secure
an
additional
little
over
three
million
dollars
from
the
city
council
from
the
cream
funds
to
cover
that
amount.
F
And
then
once
we
had
that
secured,
we
went
through
the
public
bidding
process
bids
were
open
yesterday
and
why
we
anticipated
that
there
would
be
higher
bids.
They
were
definitely
higher,
and
so
the
funding
Gap
that
we
have
is
just
a
little
shy
of
3.8
million
dollars.
That
would
bring
the
total
cost
all
in.
For
this
building
to
12.7
million
and
some
change.
F
The
city's
portion
of
the
facility
R1
would
be
9.2
million
and
some
change
for
about
421
dollars
a
square
foot
under
the
terms
of
our
Eda
Grant.
We
have
to
break
ground
by
October
12th,
which
is
coming
up
before
we
can
break
ground.
We
have
to
award
contracts
before
reward
contracts.
F
We
have
to
be
able
to
get
the
eda's
approval
of
our
plan
to
move
forward
and
as
part
of
that,
we
need
to
submit
a
letter
from
the
city
memorializing
that
we
have
all
of
the
local
funds
secured,
and
so
that's
what
today's
meeting
is
all
about.
F
If
we
don't
secure
These
funds,
we're
going
to
miss
our
deadline
and
essentially
forfeit
the
Eva
funding
ritual
lab
significant
negative
consequences
for
our
community
and
what
we're
trying
to
do
I
wish
the
the
bids
were
lower.
But
you
know
this
is
a
really
nice
building
and
it's
one
that
I
hope
that
the
Redevelopment,
commission
and
and
our
community
will
be
really
excited
about.
F
we
have
a
lack
of
office
space,
probably-
and
that
contributes
to
some
of
the
issues
that
are
holding
our
community
back
there's
so
much
going
on
right
now
in
our
regional
economy,
with
some
of
the
tech
Hub
funding,
that's
happening,
crane
Indianapolis,
the
new
priorities
of
the
University
Administration
I,
can
honestly
say:
I've,
never
seen
this
much
alignment
of
leadership
from
Key
stakeholders
from
praying
to
16
pack
in
Indianapolis.
F
In
all
the
years
that
I've
been
doing
this
stuff
I
think
we
have
an
incredible
opportunity
to
take
this
whole
vision
for
Trace
District
forward,
but
this
building
is
a
major
Catalyst,
the
abdominal
that
we
need
to
move
forward
to
kick
in
all
these
other
things
that
are
in
the
pipeline.
F
So
you
know
I'm
not
going
to
apologize
for
the
cause
because
they
are
what
they
are.
You
know
this
is
the
market
we're
in
and
I
think
that
we
deserve
to
have
a
really
nice
building
in
the
trades
District
as
a
catalyst.
That'll
set
a
bar
for
what
we
want
to
see
in
this
kind
of
development
we
want
in
the
city
of
Bloomington.
It
is
an
expensive
building,
no
question,
but
it
is
a
really
nice
building
that
you
all.
F
You
know,
we've
all
collectively
been
a
part
of
the
design
and
the
costs
are
pretty
much.
It
I
mean
they're
exactly
in
line
with
other
buildings
that
are
comparable,
I
think
I've
used
this
example
before
the
Ferguson
building
on
eagleson.
It
was
bid
pre-covered,
it's
a
bigger
building,
but
it's
a
really
nice
building.
F
So
that's
just
the
nature
of
what
high-end
nice
buildings
cost
I
think
you
know.
If
anything,
we
you
know,
we
missed
on
the
estimate
in
April,
and
so
you
know
it
seems
like
a
shock
to
be
here
today
asking
for
this
additional
funding,
but
I
feel
very
confident
that,
with
the
building,
a
lot
of
these
other
activities
that
we
have
in
the
pipeline
are
going
to
move
forward.
F
The
new
investments
will
replenish
the
tip
of
a
new
incremental
revenue
and
the
economic
impact
of
this
building
are
significant,
and
you
know
it's
I've
been
in
the
memo
I
sent
around
are
colleagues
that
I
use
public
policy
Institute.
You
know
they've
calculated
218
million
dollar
economic
impact
over
the
next
10
years,
and
so
even
at
the
higher
cost
than
the
8.6.
That's
tremendous,
Roi
and
so
I
would
just
be
happy
to
answer
any
questions.
We
have
a
colleagues
here
from
Weddle
brothers
who
you
all
approved
as
our
construction
manager.
D
And
I
I
just
want
to
add,
as
somebody
whose
signature
will
be
on
a
lot
of
these
pieces
of
paper,
committing
to
a
very
large
sum
of
funds
from
the
city.
D
You
know
I've
been
in
this
role
about
eight
weeks
now,
and
you
know
one
thing
I've
been
thinking
about
a
lot
since
taking
on
this
new
position
is
the
importance
of
innovation
and
in
everything
that
the
city
is
striving
to
do
across
the
board
is
thinking
innovatively,
and
that
is
to
ensure
that
our
residents
and
folks
who
want
to
live
here
for
a
high
quality
of
life
have
the
opportunities
they
need
to
succeed
and
Rise
Above,
and
when
we
give
folks
the
opportunities
to
do
things
like
that
through
centers
like
this,
we
are
in,
we
are
elevating
the
entire
identity
of
Bloomington.
D
We
are
truly
putting
ourselves
on
the
map
as
a
center
for
Innovation
and
that
will
drive
more
folks
to
come,
have
their
offices
and
businesses
in
this
facility,
which
is
just
going
to
bring
in
even
more
revenue
for
this.
So
like
John.
Yes,
we
acknowledge
this
building
is
not
cheap,
but
it
one
of
the
reasons
why
it
is
the
cost
it
is
is
because
it
is
innovative.
It
is
a
Leed
certified
facility.
That's
incredibly
important.
D
More
and
more
facilities
will
start
being
built
with
the
principles
that
this
facility,
because
of
its
costs,
are
able
to
embody.
They
are
pushing
the
conversation
about
what
these
kind
of
centers
should
look
like
Across
the
Nation,
so
I
am
incredibly
excited
to
be
a
part
of
that
and
again
I.
Don't
want
to
see
this
just
as
a
large
number
per
square
foot,
but
an
opportunity
for
more
Investments
to
be
made.
That
is
just
going
to
make
our
city
grow
more
as
a
business
Hub.
That
is
incredibly
well
recognized
and
innovative.
C
C
Jeff
Underwood
and
I
have
come
to
the
agreement
that
we
are
confident
that
we
have
enough
funding
to
support
this
additional
Gap
funding.
We
do
not
see
any
issues
at
this
point
of.
C
C
C
Who
wanted
a
financial
person,
please
review
with
The
Gap
running?
Is
this
one
of
those
that
the
RDC
slash
City
are
paying
in
because
it's
needed
now
in
the
hopes
that
some
of
that
will
be
reverted
back
to
us?
If
it's
possible
or
is
this
a
one-way
flow
out?
Because
it's
needed
and
you
have
the
funds
and
that's
what
they
need
to
contribute.
F
I
mean
we
certainly
will
continue
to
pursue
external
sources,
but
I
can't
say
absolutely
that
we
will
secure
them.
Our
challenge
is
that
we
just
have
this
unfortunate
window
yeah
to
act
on,
and
you
know
we're
anticipating
a
federal
government
shutdown
on
September
30th,
so
hence
the
meeting
today,
because
we
need
to
send
all
the
paperwork
back
to
Chicago
to
the
region
regional
office
of
the
Eda,
either
tonight
or
first
thing
in
the
morning,
so
that
they
at
least
have
a
couple
of
days
to
sign
off.
F
We've
already
sent
them
some
of
the
materials
they're
waiting
for
it.
They've
assured
us
that
they
can
turn
it
around
by
closing
business
Friday,
so
we'll
be
in
a
position
to
come
to
the
commission
to
with
contracts
on
your
next
regular
meeting
and
be
able
to
stay
on
point
with
our
time
and
we'll
use.
But
if
we
missed
out
the
window,
you
know
it's
a
good
probability
that
they'll
be
shut
down
before.
F
Yeah
and
then
you
know
the
other
part
of
this
is
we
talked
about
during
the
work
session
right,
you
know
as
a
catalyst
for
other
private
Investments,
those
other
private
advancements
are
going
to
generate
significant
dollars.
We've
talked
about
the
LOI
for
a
hotel.
F
You
know
they're
waiting
to
see
what
we
do
with
this
building,
but
that
project
alone
is
anticipated
to
generate
470
to
73
100
000
a
year
in
incremental
battery
taxes,
that'll
flow
back
into
the
tip,
and
that's
just
one
project.
We
still
have
another.
You
know
four
and
a
half
acres
with
potential
to
generate
even
more
revenue
and
it's
the
revenue
is
important,
but
more
important
is
the
activity
for
the
kind
of
economy.
We
want
to
grow
this
kind
of
neighborhood
where
people
can
come
work.
F
They
have
places
to
meet
colleagues
for
dinner
or
drinks
or
lunch.
They
can
hang
out.
It's
really
super
important
for
that
demographic
and
for
that
market
segment
to
have
a
place
like
this
and
without
it
you
know
it's
going
to
be
difficult
for
us
to
start
to
regain.
You
know
we
follow
behind
Pierce
cities
and
there's
no
way
to
sugarcoat.
G
F
And
so
you
know
without
something
like
this
there's
a
real
risk
that
will
continue
to
follow
me
Brian
in
the
meeting
I
mentioned
today
with
the
Croatia
delegate.
There's
a
woman
who
used
to
be
with
the
state
who's
now
leading
The
Innovation
supplement
University
and
at
the
state
they
had
completed
a
a
study
and
I'm
I'm
waiting
to
get
it.
But
I
looked
on
the
county
by
county
basis
on
sources
of
GDP
growth
and
almost
all
the
net
job
creation
is
from
small
companies
new
companies
less
than
five
years
old.
F
That's
our
future
and
if
we
aren't
growing
those
kinds
of
companies
in
Bloomington
we're
going
to
have
a
serious
problem
down
the
road,
that's
where
all
the
net
jobs
are
being
created
or
at
the
John
younger
companies,
not
younger
people,
but
younger
companies,
and
so
we've
got
to
have
an
environment,
an
ecosystem.
If
you
will
that
really
supports
and
enhances
our
ability
to
grow
these
new
companies,
you
know
patent
pieces
here
from
the
mill
I
mean
the
Mill's
doing
a
phenomenal
job
doing
that.
E
A
E
A
F
E
A
G
H
Right,
okay,
sure,
first
thing
almost
done.
Excuse
me:
what's
our
do
we
have
any
outstanding
events,
District.
C
And
trained
outstanding
debt
in
expenditures
that
have
already
hit
yes,
but
it's
that
I
believe
the
the
amount
that
has
been
applied,
that
I've
applied
towards
the
project.
F
H
C
H
Based
on
where
the
estimates
now
and
from
your
analysis
on
the
city's
financials
and
the
Consolidated
tip,
we
have
adequate
funds.
I
just
want
to
be
clear
to
cover
this
without
creating
any
additional
unforeseen
Financial
constraints
in
the
city
of
this
president,
okay,
okay
and
then
from
a
return
standpoint
on
this
I
mean
we're
looking
at
if
the
sale
of
the
land
that
had
been
put
out
previously
we're
looking
at
being
able
to
retain
back
approximately
six
point.
One
million
dollars
is
that
a
correct
statement
for
my
RFI
standpoint.
H
If
we
secure
deals,
if
we
secure
the
dents
that'd,
be
our
ultimate
goal,
which
will
pay
back
into
yeah.
This
total.
H
F
I
can't
speak
to
where
those
monies
actually
flow
to
I,
don't
know
if
they
go
back
into
a
Redevelopment,
Bond
or
the
general
Bond
code.
It
will
come
to
the
city,
but
that
was
my
next
question
because
I
don't
know
the
mechanics
of
that.
H
Situation's
been
setting
for
12
years,
so
when
we
look
at
this
as
a
building
I'm,
very
thankful
at
this
particular
moment,
we
now
know
what
reality
is,
because
we've
been
working
through
this
and
there's
been
numbers
thrown
out
there
that,
quite
frankly,
we're
just
not
right
and
based
upon
what
has
occurred
in
the
last
six
months.
We
now
know
where
we're
really
stand,
and
while
buildings
are
important,
it's
the
mission
of
what
we
put
into
them
with
the
people
and
the
Synergy
that
we
need
to
look
into
not
happy
with
the
cost.
H
I'm
not
happy
with
being
put
in
the
corner.
I,
don't
like
the
deadlines,
but
I
also
know
if
we
hadn't
had
a
dimension,
Mill
John
Fernandez
and
our
other
partners
involved
in
this.
We
wouldn't
be
at
this
point,
but
now
we're
at
this
point,
and
we
are
basically
at
the
point
of
we
either
approve
it
or
we
stay
status
quo
and
we're
not
able
to
continue
to
move
forward
as
a
community
with
what
we're
looking
for
and
we're
looking
for
higher
wages,
growth
and
what
we
want
as
a
community
I.
H
H
So
from
my
standpoint,
the
costs
are
kind
of
what
they
are:
we're
utilizing
global
and
I'm,
counting
on
the
team
that
we've
hired,
which
is
John
and
everybody
in
this
room
Pat
that
we're
going
to
be
able
to
make
this
project
successful
without
any
questions,
because
this
momentum,
once
we
lose
it,
it's
live,
will
be
gone
and
I
think
it's
time
that
we
finally
just
said,
you
know,
pull
the
Band-Aid
off
we're
either
going
to
make
it
happen
or
we're
gonna
bleed
to
death.
C
Wondering
it's
a
little
early
and
I
definitely
appreciate
and
agreeing
with
what
the
vote
Randy
said,
but
I'm
just
interested
in
that
Revenue
question.
What's
the
typical
per
square
foot
Revenue
income,
that's
expected
once
will
at
least
stop
in
terms
of
just
looking
at
the
gap
between
what
it
costs
to
build
it
and
what
the
likely
income
based
on
that.
F
End
well
in
the
let
me
pull
that
up
so
I've
been
I
included
in
the
materials
for
the
work
session,
the
working
Pro
Form
and
we
were
being
very
conservative
with
the
numbers
based
on
Year,
One,
50
occupancy
and
then
going
forward.
We
were
using
a
75
percent
occupancy
numbers
experience
with
me
in
a
second
yeah
I,
don't
know
all
right,
so
we're
looking
at
you
know:
net
income
in.
F
The
revenue
you're
talking
about
we're
projecting
around
389
to
415
of
our
you
know
four-year
period,
including
from
50
to
75.
With
you
know,
annual
Grant
escalations
we're
using
a
number
of
wow
about
twenty
dollars,
a
square
foot
plus
cans
which
is
about
I,
think
the
the
yeah
so
based
on
what
we're
working
on
right.
Now,
let's
I'm
sorry,
it's
19,
a
square
foot
plus
cams
and
utilities.
F
So
I
mean
you
know:
it'd
be
a
difficult
building
if
you're
doing
this
as
a
private
investor
to
make
the
numbers
work
because
you're
going
to
have
Debt
Service,
but
we
won't
have
debt.
So
it's
a
big
advantage
to
be
able
to
do
what
we
want.
E
F
It's
going
to
be
at
the
high
end
yeah,
but
it's
it's
in
line
with
our
new
sets
under
review
for
the
garage.
H
A
I
would
say
that
you
know
I've
been
a
part
of
this
project
for
a
long
time
and
I
think
that
we
would
have
been
far
ahead
of
where
we
are
today
had
covered,
not
happened
and
people
should
not
happen.
Etc
and
no
one
is
more
disappointed
about
the
increased
costs
than
I
am
but
I
think.
At
the
end
of
the
day,
you
know,
we've
got
to
find
the
right
projects
to
invest
in
as
a
community
and
really
invest
in
the
future
of
the
community.
A
So
I
think
it's
important
to
consider
that
as
well,
that
we're
making
an
investment
in
our
community
and
our
future
so
again
not
happy
about
the
cost,
but
at
the
end
of
the
day,
I
think
this
is
an
important
next
step
for
our
community
and
with
that,
if
I'm
not
hearing
any
other
questions
from
commissioners,
I
will
ask
for
public
comment.
G
C
Have
comments
on
behalf
of
the
EBC
and
also
comments
for
someone
who
will
be
here
that
they
sent
along
so
so
the
medc
works
with
the
city
to
apply
for
the
U.S
EPA
card
until
then
again,
because
we
saw
firsthand
the
need
to
diversify
our
local
employment
base
because
we
saw
what
the
pandemic
did
to
us
and
we
also
thought
The
need
to
enhance
the
Innovation
ecosystem.
C
I
C
In
our
best
pass,
Our
Best
Bets
is
to
diversify
the
important
that
we
can
offered
so
our
city
as
well
supporting
the
local
employers.
We
have
the
Iowa
public
policy,
Institute,
provided
a
feasibility
study
for
this
project,
which
demonstrated
how
fostering
the
emerging
tech
industry
provided.
The
really
strong
step
in
that
direction
has
been
found
more
than
a
building.
It's
designed
to
help
us
to
grow
our
local
private
sector,
hourly
wages,
to
improve
quality
of
life
for
our
neighbors.
C
G
C
E
C
C
The
tech
center
provides
an
important
Avenue
for
fostering
with
his
by
Kelly
Burr,
not
only
Bloomington
and
accounting,
but
also
for
the
region
as
well.
Absolutely.
G
C
You
for
your
inspiration,
the
other
comment
that
I
have
because
he
had
a
chronic
look.
This
evening
he
was
a
Monroe
County
counselor
he's
the
member
of
the
BBC
executive
Indiana.
C
He
wanted
to
know
that
the
primary
Economic
Development
Goal,
including
county,
is
to
raise
the
median
hourly
wage
for
Monroe
County
residents,
the
Bloomington
MSA
Legacy
State
the
most
effective
way
to
boost
the
median
wages
by
developing
and
encouraging
the
creation
of
emerging
Industries
and
jobs
that
pay
higher
wages.
The
tech
center
is
an
exciting
move
in
that
direction,
and
it
is
well
worth
the
investment
into
Aquarius.
G
I
Thank
you,
madam
chair.
This
is
Christopher
mg
from
the
greater
Bloomington
Chamber
of
Commerce,
so
I'm
here
to
support
and
endorse
the
resolution
before
you
I
think
Mr
Fernandez
sort
of
laid
out
the
case
echoed
by
commissioner
Cassidy
I
mean
we
are
where
we
are
on
this
project.
I
think
the
higher
costs
were
not
too
big
a
surprise,
but
this
is
still
about
leveraging
about
three
and
a
half
million
dollars
in
USDA
us
Eda
funds.
I
I
mean
Mr
Underwood
laid
a
good
case
as
well
that
we
have
the
tip
funds
to
cover
any
shortfall
and
to
create
the
ecosystem.
We
want
the
vision
we
have
for
the
trades
District
as
a
sustainable,
Urban
neighborhood
that
nurtures
creativity,
collaboration,
entrepreneurship
that
makes
it
a
tech
sub
that
will
require
this
building
this
tech
center
to
be
the
Catalyst
for
private
investment.
This
investment
will
keep
and
lure
valuable
young
professional
demographic
that
we
somewhat
lack
in
this
community.
So
the.
G
I
A
Resolution
passes:
is
there
any
other
General
business
discussion
for
the
group
tonight,
if
not
I'll,
entertain
a
motion
to
adjourn
the
rules,
all
right,
good
night,
everyone.
Thank
you.
Thank
you
all.
Thank
you
very
much.