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From YouTube: September 6, 2022 Bloomington Port Authority Meeting
Description
September 6, 2022 Bloomington Minnesota Port Authority Meeting
A
A
A
A
A
D
Yeah
good
evening,
president
and
commissioners,
I
would
like
to
introduce
michael
palermo
as
the
new
economic
development
analyst.
He
started
with
the
port
authority
on
august.
8Th
mike
is
here
with
us
virtually
tonight,
so
I'll,
let
mike
just
kind
of
say
a
few
words
and
introduce
himself.
E
Thanks
jason
president
erickson
commissioners,
some
of
you
I'm
familiar
with
others,
I'm
not,
but
I'm
mike
palermo.
I
came
from
the
planning
division,
so
I've
been
with
the
city
of
bloomington
five
years
now
and
worked
in
long
range
planning
working
on
small
area
plans
like
98th
street
stationary
plan
and
normandy
lake
district
plan.
E
Looking
at
housing,
development
and
kind
of
doing
a
lot
of
number
crunching
and
demographic
analysis
and
some
prior
to
working
for
city
of
bloomington,
I
worked
for
srf,
consulting
doing
a
little
transportation
planning
and
a
lot
of
grant
applications
and
prior
to
that,
I
worked
for
the
city
of
duluth,
where
I
had
the
title
of
planner,
but
I
did
a
lot
more
community
development.
E
We
worked
with
community
development
block
grant
a
lot
of
grant
administration
worked
on
applying,
for
grants,
worked
on
a
program
called
duluth
at
work,
which
is
the
jobs,
training
program
and
kind
of
the
the
background
administration
of
that,
as
well
as
doing
some
long-range
planning
and
other
kind
of
miscellaneous
activities.
E
E
Sure
president
erickson,
I
graduated
from
the
university
of
iowa,
I
actually
went
there
for
my
undergraduate
and
graduate
degrees.
My
undergraduate
was
in
economics.
I
have
a
bachelor
of
business
administration
and
economics
minor
in
political
science,
and
then
I
was
trying
to
figure
out
what
to
do
with
an
economics
degree
that
wasn't
you
know
a
phd
and
more
practical
and
ended
up
in
urban
planning,
and
I
really
liked
how
you
can
apply
economics.
E
I
live
in
eden,
prairie,
just
real
close
to
bloomington
and
have
a
family
with
two
daughters
first
day
of
school
today.
So
I'm
excited.
F
E
See
how
my
kindergartner,
if
she
had
fun
or
not
but
yeah,
and
we
like
to
go
hiking
and
camping
and
lots
of
outdoor
stuff.
So
we
love
exploring
the
river
valley
and
being
close
to
that
and
yeah
love
the
area
originally
from
chicago
but
ended
up
getting
the
job
in
duluth
and
that
brought
me
to
minnesota
and
I've
been
loving
it
ever
since.
A
E
President
erickson,
commissioner,
it's
hard
on
the
not
being
in
person,
but
I'm
from
niles
it's
right
in
the
northwest
corner.
Some
people
might
be
familiar
with
park
ridge.
It's
five
minutes
from
ohio
airport,
that's
kind
of
my
where
I
grew
up
and
parents
still
live
and
have
family
in
skokie
and
schaumburg
and
like
to
visit
quite
often.
A
Well,
that's
great!
Well,
thank
you
very
much.
We
will
look
forward
to
hearing
future
presentations
from
you,
but
we
are
delighted
to
have
you
as
an
addition
to
the
staff
and
and
it's
it's
something
that
we've
been
trying
to
get
some
additions
to
the
staffing
for
a
few
years
and
it's
good
to
see
that
come
to
fruition.
So
thank
you
very
much.
A
Thank
you.
So
I
guess
the
next
item
then
on
the
agenda
is
2.2
the
approval
of
the
port
tax
levy.
Jason.
Are
you
going
to
cover
that.
D
Yes,
I
am
president
erickson
and
commissioners
carolyn
is
pulling
up
the
presentation
here.
A
And
I
guess
I
should
just
know
for
the
record
that
we
we
have
some
people
joining
us
by
zoom,
so
I
don't
know
carol
and
whether
we
should
specify
who
they
are
or
just.
D
All
right,
president,
erickson
and
commissioners,
so
tonight
before
you,
we
are
looking
to
propose
a
2023
port
tax
levy
of
in
of
the
amount
of
about
1.4
million
dollars
and
where
this
came
from
was
from
the
direction
of
this
commission
back
on
july
19th,
when
they
recommended
the
staff
proposed
recommendations
from
the
assessment
of
both
the
hra
in
which
it
also
included
the
port
authority.
D
The
main
item
from
that
assessment
was
to
consolidate
the
majority
of
multi-family
and
commercial
redevelopment
into
the
port
authority's
work,
and
so
basically
removing
that
that
work
from
the
hra
and
putting
it
solely
within
the
port
authority,
so
that
they
could
work
for
the
entire
city
and
not
just
with
within
the
south
loop
district
part
of
that
action
was
that
the
hra
levy
would
be
decreased,
commensurate
with
an
increase
to
the
port
levy.
D
D
So
statutorily
the
port
authority
can
levy
and
collect
tax
of
up
to
point
zero
one,
eight
one:
three
percent
of
the
estimated
market
value
of
taxable
property
within
the
entire
city,
the
port
authority,
since
its
inception,
has
not
turned
on
the
port
levy,
and
so
the
maximum
allowed
2023
port
levy
could
be
in
the
amount
of
two
million
seven
hundred
and
twenty
one
thousand
and
four
hundred
and
thirty
dollars.
D
D
At
their
august
23rd
hra
commission
meeting,
they
set
a
levy
for
the
hra
at
one
million
three
hundred
and
seventy
six
thousand
nine
hundred
and
sixty
nine
dollars,
which
then
the
difference
of
that
from
their
maximum
to
what
they
proposed
is
how
we
got
to
the
1.4
million
dollars
excite,
please
so,
overall,
looking
at
it,
the
proposed
port
authority
and
the
hra
levy,
when
you
look
at
it
combined,
is
an
estimated
tax
of
four
dollars
and
twelve
cents
per
month
on
the
median
valued
home,
and
if
this
is
improved,
if
this
is
approved
tonight,
this
a
resolution
will
go
before
the
city
council
on
september
12th
for
their
consideration
to
to
approve
the
ports
levy
next
slide
and
so
another
agenda
item,
which
will
be
the
next
item
going
over
the
budgets.
D
One
of
the
those
budgets
will
be
the
new
port
authority
development
fund
or
fund
p210.
So,
as
you
can
see,
with
the
2023
request,
we're
seeking
to
turn
the
levy
on
for
1.4
million
dollars.
D
This
would
help
cover
salaries
and
wages
and
benefits
for
the
new
employees,
as
well
as
for
for
some
and
ancillary
employment
of
paying
some
legal
fees
to
our
legal
division,
our
accounting
division
within
finance.
So
it
would
pay
a
portion
of
their
salaries
as
well.
D
The
other
funding
source,
the
transfer
out,
as
previously
stated,
that
would
be
the
200
000
200
000,
which
would
be
transferred
to
the
creative
place.
Making
budget
for
creative
place,
making
outside
of
south
loop
for
city-wide
expenditures
and
in
essence,
then
we
would
have
304
thousand
dollars
which
could
be
utilized
for
future
business,
resource
programs
and
or
development
projects
with
which
this
commission
would
be
part
of
that
decision-making
process
and
would
authorize
that
spending
at
a
future
date.
D
Next
slide,
please,
and
so
with
that
staff
is
proposing
that
this
commission
approve
the
the
attached
resolution
in
your
packet,
and
the
motion
is
on
your
screen
and
I'm
available
for
any
questions.
A
Thank
you
jason.
So
really,
what
we're
doing
here
is
we're
just
moving
funds
around
essentially
between
different
city
funds,
the
hra
to
the
port
authority,
and
the
amounts
are
roughly
the
same.
You
said
they
were
commensurate,
so
this
is
something
I
think
we
talked
about
at
some
length
actually
last
month
earlier
july,
when
we
had
a
meeting
so
port
authority.
C
Thank
you,
mr
president,
so
jason,
the
the
the
fund
balance
I
mean.
Do
you
see
that
similar
to
the
strategic
priorities
fund,
basically
that
the
city
council
works
with
is
that
is
that
similar
that'll
be
talked
about
each
year
or
considered
each
year
as
possibly
spending
down
to
zero
or
for
that
matter,
just
carrying
it
over
and
building
it
up
and
figuring
out
what
might
be
a
strategic
priority
or
an
important
expenditure
that
the
port
might
be
interested
in.
D
President
erickson
and
commissioner
I'll
say
that
would
be
a
determination
of
this
commission,
and
so
ultimately,
I
think
when
the
new
administrator
is
brought
on
board
and
hired,
and
we
start
the
strategic
planning
process
for
the
port
authority.
That
would
be
a
lengthy
discussion
that
I
think
this
commission
would
determine
as
far
as
how
they
would
like
to
to
spend
those
funds.
A
H
Mr
president,
mr
mayor
commissioners,
with
this
type
of
fund
and
how
it
is
established,
it'd
be
a
normal
budgeted
fund
that
the
port
authority
would
approve
and
that
this
budgeted
fund
would
become
before
the
city
council
for
consent
of
approving
that
budgeted
fund
in
the
future
versus
strategic
priorities.
On
the
city
side,
the
council
really
dedicates
those
funds
and
it's
not
a
budgeted,
and
it's
more
of
a
long-term,
phased
approach
in
that
one,
so
really
a
different
type
of
fund
for
this
activity
in
the
future.
So
it
will
be
budgeted.
G
H
Mr
president,
mr
mayor
council,
member
lens,
that
is,
a
city
fund,
it
is
not
in
the
hra,
we've
had
the
amount
that
is
coming
from
the
south
loop
fund
for
the
south
loop
activities
being
placed
in
that
city
fund.
This
amount
will
come
and
be
placed
in
that
same
fund,
but
in
a
different
category,
because
that
south
lube
money
has
to
be
spent
in
south
loop,
this
money
can
be
spent
city-wide,
so
we'll
be
tracking
it
separately.
On
the
city
side,.
H
C
If
I
could,
mr
president,
so,
commissioner,
we
so
the
the
the
creative
place
making
money
that
has
been
spent
over
the
past
few
years.
Str,
specifically
out
of
this
self-loop
development
fund,
has
been
spent
in
the
self
loop
and
I
think
council
member
excuse
me.
Commissioner
carter
has
probably
heard
it
as
often
as
I
have
from
people
in
the
community
that
they
would
like
to
see
different
artistic
endeavors,
different
creative
place,
making
different
opportunities
citywide,
and
this
is
just
an
opportunity
to
be
able
to
do
that.
Citywide.
A
A
J
Oh
sorry,
about
that,
okay,
so
I
will
be
going
through
this
with
the
help
of
carolyn.
So
the
first
thing
is
just
the
first
page.
Here
is
just
telling
you
all
the
different
budgets
that
we
have
or
the
funds
that
we
have.
Excuse
me
in
the
port
authority
again,
the
only
ones
that
need
to
be
budgeted
for
are
the
general
fund
and
the
special
revenue
fund
of
the
development
that
we
just
went
over
next
slide.
Please.
J
So
many
of
you
seen
this
before
this
kind
of
gives
you
in
graphic
form
what
the
port
authority
has.
As
far
as
different
types
of
funds.
We
have
the
mall
of
america
fund,
mall
of
america,
one
tif
district,
the
mall
of
america,
two
rosa,
which
is
just
a
newer
fund
for
us
american
square
bloomington
central
station,
which
just
keeps
exponentially
growing
and
we
keep
putting
out
money
into
different
areas
splitting
out
the
the
tif
that
comes
in
right.
J
J
That
area,
then
we
do
have
another
couple
of
funds
in
here,
one
of
them
being
the
that
special
project
fund
that
we
had
from
the
destroyed
value
when
we
destroyed
it
to
build
the
the
parking
or
excuse
me
destroy
the
parking
ramps
to
build
the
hotels
on
that
and
then,
if
you
kind
of
go
below
that
line,
the
cur
the
gray
line
there,
you
see
the
general
fund
and
also
the
new
fund
that
we
have
the
development
fund
and
the
general
fund
the
lines
going
in.
B
J
J
We
are
projecting
wages
and
benefits,
salary
wages
and
benefits
of
299
000
in
2023
and
350
15
000
in
2024
materials
and
supplies
at
125
and
support
services,
occupants
space
and
occupancies
space
and
occupancy
only
is
in
the
general
fund
and
now
going
to
be
in
our
development
fund,
the
tiff
funds,
the
admin
of
the
tif
funds,
is
not
allowed
to
expec
accept
that
type
of
thing
that's
not
allowed
in
there.
We
have
transfers
in
and
out
in
these
funds.
J
J
But
we
do
assume
that
you
know
they
will
be
paying
all
of
that
with
interest
and
as
tif
funds
come
available
at
the
admin
portion
of
them.
We
also
have
in
the
transfer
in
from
the
the
city
south
loop
development
to
fund.
We
call
it
a
transfer,
although
you
know
so
we
get
that
money
in
there
to
cover
what
expenses
we
have.
So,
as
you
can
see,
the
ending
fund
balance
in
2023
is
13
000
and
in
2024.
J
It
is
here.
It'll
come
to
me,
12
800.,
so.
J
J
Yeah
and
we
can
okay,
so
the
next
one
is
the
development
fund.
The
next
page
you're
gonna
see
is
the
development
fund.
Jason
did
a
wonderful
job
of
telling
us
what
was
going
into
the
development
fund
as
well
the
1.4
million
in
tax
levy
in
2023.
We
had
to
have
an
inflator
going
in
into
2024
salaries
and
benefits
the
same
thing
760
000
coming
in
for
that
materials
supplies
is
50
000
in
2023.
J
Those
again
are
some
of
the
projects
that
we
have
there,
plus
training
and
education
of
the
new
people
that
we're
going
to
be
getting
in
here,
that's
and
in
2023.
We
also
have
the
space
and
occupancy,
as
I
was
just
mentioning.
Space
and
occupancy
can
only
be
in
there
and
we'll
have
we're
anticipating
in
2023
to
have
an
ending
fund
balance
just
to
slightly
over
three
hundred
thousand
and
in
twenty
twenty
four
about
six
hundred
thousand
the
next
one
that
we'll
go
on
is
the
special
projects.
J
This
is
the
destroyed
value
fund
that
we
have
in
there
we've
just
been
kind
of
keeping
that
money
in
there
waiting
to
use.
It
is
slated
right
now
for
us
to
so
you
can
just
forward
up
a
couple
of
them.
Please.
J
Once
things
can
get
moving
with
the
the
mall
of
america
water
park
that
we're
we're
proposing
that
we
would
be
using
this
money
and
just
draining
this
fund
out.
So
if
that
goes
through
in
2023
good
news,
we
have
some
money
to
to
use
in
there
next
slide.
Please.
J
This
is
our
the
the
admin
and
reserve
funds
for
the
mall
of
america,
one
and
two:
we
are
keeping
them
together.
Just
for
ease
of
purposes
of
seeing
this,
we
do
have
some
interest
income
coming
into
these
funds.
It
looks
like
we
have
some.
You
know
we
have
professional
services
that
we
have
some
wages
and
salary.
The
one
thing
I
want
to
note
here
is
in
2023:
we
are
intending
to
use
about
7.4,
just
under
7.4
million
dollars
for
the
sick
development
parking
ramp.
J
That's
the
major
thing
to
see,
and
of
course
in
here
coming
in
is
transfers
in
from
the
the
10
of
the
tif
that
can
come
in
so
in
the
end
of
2023,
we're
projecting
the
balance
in
the
fund
to
be
7.3
million
dollars,
and
in
2024
it's
going
to
be
about
7.9
million
dollars,
so
we
are
using
it.
J
G
G
F
J
J
Obviously-
and
this
is
money
that
has
been
accumulating
from
the
old
tiff
and
then
the
2013
plus
tiff
that
we
we
have
coming
in
and
here
so
you
can
see
that
we
have
some
interest
earnings
that
we're
intending
to
to
be
coming
in,
and
then
we
also
have
tax
increment
from
the
2020.
Excuse
me
2013,
as
we
call
it
tax
increment
from
the
20
2013
tiff,
that's
coming
in
8.2
million
dollars
in
2023
from
mall,
1
and
then
20
mall
2
is
one
almost
1.7
just
slightly
under
1.7
the
professional
services.
J
We
do
have
some
professional
services
to
come
in
that
come
out
of
here.
These
are
for
legal
costs
associated
with
the
ramada
in
certain
projects
of
that
nature,
and
then
we
also
have
the
land
projects.
That's
that
fifteen
thousand
dollars
is
basically
so
that
we
can
keep
the
birds
out
is
a
lot
of
it
and
then
what
we
are
looking
at
is
the
adjoining
lands
tiff
loan.
There
there's
going
to
be
money
coming
in
for
that
or
going
out
in
2023.
J
That
is
basically
the
money
that
we
had
set
aside
to
for
the
water
park
stuff,
and
then
we
are
spending
for
spending
plan
funds
for
the
water
park
of
38
million
dollars
and
water
public
improvements
of
20
million
dollars
in
2023.
J
These
again,
as
this
progresses,
which
we
certainly
hope
will
happen
and
2024
of
note
that
might
be
different-
is
the
fact
that
we
have
45
million
dollars
going
out
so
by
the
end
of
2024,
you've
taken
a
very
healthy
fund,
balance
of
90,
you
know
of
96
million
and
brought
it
basically
down
to
2.3
million
dollars.
So
but
money
will
still
be
coming
into
these
funds,
so
we
will
have
those
for
use.
J
J
J
J
Moving
on
to
rosa
next
slide,
please
rosa
development.
This
is
one
of
our
new
tiff
districts
and
you
know
there
is
we're
basically
saying
because
there's
no
money
in
it,
we
don't.
I
J
Any
interest
we're
not
going
to
put
any
interest
to
this,
but
we
do
have
some
professional
services
and
wages
and
salaries
that
go
into
this
fund
at
this
time,
and
to
note
here
is
that
the
transfer
in
from
the
port
authorities
general
fund
excuse
me,
will
be
needed
in
2023
and
2024
anticipated
to
cover
those
expenses,
because
there
is
no
tiff
monies
coming
in.
Yet
at
that
point,
if
you
can
advance
to
the
next
slide,
please,
as
you
can
see
absolutely
nothing
coming
in
in
2024.
J
Next
is
the
american
square
and
again
another
of
our
brand
new
tif
districts
that
we
are
using
in
here.
There
is
more
activity
happening
in
that
that
area,
I'm
happy
to
say
so.
We
do
have
some
professional
services
in
2023
and
2024
and
some
wages
and
salaries
as
we
are
ramping
up
working
on
those,
and
we
will
be
needing
to
bring
in
money
from
the
the
general
fund
in
2023
to
cover
that
what
we
have
in
the
past
is
you
know.
J
American
square
has
paid
us
some
money
to
set
up
these
districts,
so
we've
been
using
that,
but
obviously
that's
run
out
or
is
running
out,
so
we're
going
to
be
bringing
that
in
in
2023
and
in
2024
we
anticipate
starting
to
pay
back
plus
we
were
going
to
have
some
money
in
from
the
pooling
effect
of
this
tiff
admin
fee.
So
some
of
that
money,
as
you
can
see,
16
535
dollars
will
be
going
for
the
admin
and
part
of
it.
J
It
will
be
pooling
so
that
we
have
money
available
for
affordable
housing
projects
in
the
future.
So
that's
why
we're
going
to
be
this
fund
will
continue
to
actually
have
a
balance.
Although
we
say
it's
a
transfer
in
and
it's
for
pooling,
and
we
don't
put
it
down
at
the
ending
fund
balance.
It
really
will
be
a
fun
balance
thing
because
it's
not
really
an
expensive,
but
we
want
to
make
sure
you
understand
that
that
is
set
aside
for
that
particular
thing.
So
that's
why
we
have
that
next
slide.
Please.
J
We
are
happy
to
say
that
in
2024
we
anticipate
being
able
to
get
165
000
in
tax
increment
coming
in
and
again
as
we
were,
showing
that
we
have
some
counted
value
that
will
be
going
back
to
american
square
for
the
stuff
that
they
have
done,
and
then
some
of
it
will
be
going
back
into
that
that
admin
fund
for
the
admin
costs
and
some
of
it
for
pooling
for
the
future
use.
A
Yeah,
it's
interesting.
You
look
at
these
funds
and
it's
kind
of
obviously
dry
accounting,
but
then
you
look
at
what
has
been
accomplished.
What's
going
on
out
there
with
these
projects
coming,
and
I
mean
it's
really
exciting
to
see.
I
mean
again
with
my
years
on
the
port
authority,
one
of
the
it's
just
exciting
to
see
it
really
can
become
a
take-off
point.
Now
I
mean
we're
seeing
enough
mass
out
there
to
really
start
to
generate
so
it's
even
though
it's
accounting
can
be
kind
of
dry
and
boring.
J
So
bloomington
central
station,
this
is,
I
would
have
to
agree
with
president
erickson
that
if
you
have
something
fun
in
accounting,
this
is
it
bloomington
central
station,
because
it
seems
like
we're
able
to
split
that
money,
five
ways
to
sunday
and
and
so
that
right
now
you're
looking
at
the
admin
fund
for
the
bloomington
central
station-
and
we
do
of
course
have
some
professional
services
and
wages
and
salaries
of
people
working
on
those
projects.
You'll
notice
that
it
does
go
up
significantly
in
2023
and
part
of
that
is
because
of
the
carbon
31..
J
People
will
be
using
this
a
little
more
time
in
there
for
carbon
31..
So
we
do
receive
money
back
in
from
all
of
the
other
little
areas
that
we
have
split
it
off,
split
the
tiff
out
to
which
is
linear
capital,
you'll
notice
that
the
lennar
capital
actually
the
money.
We
do
split
off
some
of
the
money
for
the
in
lennar
for
the
debt
service
and
we'll
come
to
that
next.
But
that
excuse
me,
but
that
debt
service,
we
can't
actually
do
a
transfer
out
of
the
debt
service.
J
F
F
J
Let
me
explain
that
at
the
end
of
at
the
end
of
the
year,
we
have
to
account
generally
accepted
accounting
principle
says
that
we
have
to
take
into
account
what
our
value
of
our
assets
is
are
if
we
had
to
sell
them
that
day.
So
it's
called
mark
to
market
where
we
value
it
back
to
what
it
would
be
if
the
market
happened.
J
Well,
as
I'm
sure
all
of
us
know,
if
we
looked
at
our
own
personal
portfolios,
it
kind
of
went
down,
so
we
buy
an
asset
at
you
know
a
security,
let's
say
at
five
million
dollars.
If
we
had
to
sell
it
today
because
of
the
interest
rate
changes,
we
wouldn't
get
five
million
dollars,
and
so
that's
why
you
have
negative
interest
in
there
because
of
that
mark
to
market
adjustment
that
we
have
to
say
in
there.
Excuse
me
yes,.
J
No
they're
not
they're,
not
liquid
per
se.
I
mean
yes,
excuse
me.
Yes,
they
are
because
we
buy
assets
such
as
you
know,
government
agencies
and
things
that
are
traded
on
the
the
exchanges
so
that
we
could
sell
them
if
we
had
to
sell
them,
but
the
city's
policy
and
the
port
authorities
policy
is
to
hold
investments
till
maturity.
J
A
What's
happening,
all
the
time
is
that
if
you
buy
a
bond,
that's
got
a
two
percent
yield
and
then
the
interest
rate
goes
up
to
two
and
a
half
percent.
The
bond
at
two
percent
has
to
be
adjusted
in
market
value.
The
market
has
to
decline
so
that
you
would
get
up
to
a
two
and
a
half
percent
interest
rate,
and
so
it's
that
mechanism.
I.
H
Mr
president,
mr
mayor
and
commissioners,
this
is
just
an
accounting
piece
for
1231.
it's
reversed
out
and,
as
we
hold
an
investment
to
maturity,
we
get
the
full
value
of
that
investment.
That
5
million
example
plus
the
interest
it's
just
at
12
31.
This
is
what
it
looked
like.
So
we
have
to
make
that
accounting
per
accounting
rows.
J
Yeah
I
thought
yeah
I
get
to
do
the
investment
side
of
on
my
accounting
job
too,
so
I
actually
enjoy
that
stuff.
J
A
A
F
J
J
So
were
there
any
more
questions,
I'm
sorry
on
the
admin
fund
here.
A
J
J
So
that
says
that
we're
doing
something
right
in
that
that
district.
So
next
please
so
this
would
be
our
what
we've
thought
of
for
many
years
as
the
bloomington
central
station
capital
project
fund.
So
this
would
be
your
health
partner's
building.
Oh
I'm
sorry,
the
big
blue
building
that
I'm
escapes
to
my
attention.
J
J
As
many
of
you
may
recall,
we
do
we've
had
assessments,
we
did
some
assessments
out
there
and
that's
how
we're
paying
back
as
they
pay
their
assessments.
We
pay
them
back.
So
that's
what
your
accounted
value
is
write
that
and
then
we
also
have
I'm
giving
them
some
in
2023
and
in
2024
we're
going
to
be
paying
counted
value
based
on
that
carbon
31,
so
that
we
can
get
that
development
and
that
that
wonderful
grocery
store
that
I
keep
hearing
about.
J
Everybody
is
excited
about
that
and
then
we
will
have
a
transfer
out
into
the
admin
fund,
so
it
work.
Our
fund
balance
is
holding
steady
from
what
we
anticipate
it
to
be
at
the
end
of
this
year,
because
we're
giving
that
money
out
to
back
for
the
carbon
31.
So
in
2023
we
anticipate
the
fund
balance
just
be
a
little
bit
over
3.2
million
dollars
and
in
2024
almost
3.8
million
dollars.
J
J
I
will
point
out
that
we
do
also
have
when
we
did
these
bonds.
If
you
may
recall,
we
did
set
aside
money
in
the
south
loop
as
a
guarantee
for
this,
but
I
don't
think
we're
going
to
need
that
and
in
fact
the
hope
is
when
becky
and
I
were
working
through
these-
is
that
at
some
point
in
time
in
the
future,
that
we
may
be
able
to
call
these
bonds
and
pay
them
off
a
little
early.
J
J
Mcgoff
had
some
special
assessments
that
we
are
happy
to
say
we
were
able
to
finish
paying
off
a
little
earlier
than
what
we
expected,
because
tiff
is
coming
in
a
little
better
than
what
we
anticipated
originally.
So
we
did
that
lennar
landscaping.
That
again
was
something
that
lennar
had
done,
that
we
had
an
agreement
to
pay
them.
J
The
landscaping
costs
and
that'll
be
taken
care
of
in
the
end
of
2022,
or
it
actually
has
already
been
taken
care
of.
I
made
that
transfer,
and
then
you
know
we
did
have
some
counted
value,
but
that's
in
2020,
so
this
balance
is
is
is
out
there.
Jason
would
probably
be
able
to
better
tell
you
what
anticipated
to
be
using
this,
for,
as
the
balance
grows
in
2023,
we're
expecting
it
640
000
and
in
2024,
just
as
shy
under
1.2
million
dollars.
J
J
Now
we
go
to
the
fendly
one
of
our
newer
projects
out
there,
although
hell
we
got
so
many
going
out
there
that
it's
can't
really
say
that
much
longer
so
again
we
we
partitioned
some
of
the
the
tax
increment
in
2023.
We
expect
it
to
do
1.2
million
dollars
of
the
tax
increment,
we'll
go
out
to
this
friendly
project,
and
we
will
be
paying
back
that
that
pay
go
note
that
we
have
with
them.
J
We
can
pay
up
to
10
10
million
664
100
and
the
principal
that
can
be
paid
out
in
this
contract
for
the
friendly
for
the
pay,
as
you
go
note
that
we
have
there,
so
the
balance
in
this
really
does
you
know.
At
the
end
of
the
the
day,
our
fund
balance
is
really
going
to
stay
pretty
stagnant,
where
whatever
we
get
in
there
we're
paying
back
out.
So
it
stays
fairly
de
minimis.
The
amount
that
we
have
in
there.
J
You
would,
except
for
the
fact
that
at
this
point,
we're
still
just
paying
interest.
Okay,
because
that
note
that's
the
maximum
principle,
but
this
you
know
obviously
we're
still
paying
on
the
interest
and
this-
and
I
don't
have
that
spreadsheet
in
front
of
me
today-
to
give
you
the
answer.
How
much
is
it
the
interest
on
that?
J
So
next
one
please-
and
here
is
our
very
newest
one-
the
carbon
31
that
I
keep
talking
about
this
grand
old
male
grocery
store
that
I
think
a
lot
of
people.
I
think
it'll
really
bring
a
lot
of
people
in
there
personally
and
we're
we're
expecting
in
2024
to
have
about
four
hundred
thousand
dollars
of
tax
increment.
That
will
be
allocated
to
this,
of
which
we
will
pay
on
the
pay.
Go
note
that
we
have
now.
J
This
one
is
even
larger
of
22.9
million
dollars
that
we
can
pay
out
on
this
contract
the
max
on
this
and
then
we'll
be
transferring
some
money
into
the
admin
fund.
For
this
again,
this
will
be
a
net
zero
fund
at
the
end
of
the
day,
because
anything
that
we
do
receive
in
tax
increment
will
be
sending
back
out.
A
Well,
thank
you,
jan.
You
know
one
of
the
things
that
I'm
always
reminded
of
is
in
the
public
sector.
These
budgets
have
a
different
meaning
than
they
do
in
the
in
the
private
sector,
the
private
sector.
It's
a
plant,
you
adopt
a
budget,
it's
a
plant
in
the
public
sector,
you're,
actually
moving
money,
and
so
this
whole
process
is
is
one.
That's
it's
a
very
important
one
for
us
to
go
through
because
it
sets
up
the
the
authorization
and
then,
to
the
extent,
there's
deviations
from
that.
A
Then
they
have
to
come
back
to
the
board
and
ask
for
a
variance,
but
again
it's
it's
significantly
different
in
the
public
sector
than
the
private
sector.
Yeah
any
port
authority
questions
on
this
budget.
If
not,
I
would
entertain
a
motion.
It's
contained
on
page
31
of
your
package,
adopting
the
port
authority,
general
fund
and
development
fund
budgets.
C
Thank
you
for
the
information
and
I
I
think
only
because
I've
been
around
for
about
12
years.
I
I
get
it
and
I
understand
it
and
it
follows
through,
but
I
think
I
I
wonder
if
we
couldn't
look
at
something
like
we
have
done
for
the
city's
budget
with
the
budget
page
and
the
budget
explained,
you
know
the
explaining
videos
and
that
type
of
thing
I
think
we
could.
C
I
don't
think
anybody
understands
you
know,
just
in
general,
the
hra
and
what's
going
on,
I
think,
just
from
a
from
a
a
transparency
and
explainer
type
standpoint
for
our
for
our
residents
of
bloomington,
it
might
be
worth
considering
trying
to
match
some
of
the
things
that
we're
doing
in
general,
with
our
city
budget
yeah.
J
Thank
you
very
much,
president
erickson
mayor
and
commissioners.
Yes,
we
did
talk
about
that
and
we
talked
about
trying
to
get
it
done
this
year.
Unfortunately,
we
just
kind
of
wanted
to
get
this
this
one
out
because
of
the
tax
levy
piece,
and
this
is
how
we've
done
it.
But
yes,
it
is
intended
that
next
year
it
will
look
almost
exactly
like
what
you're
getting
from
the
city,
and
I
mean
obviously
in
a
different
scale,
but
you
know,
but
you
will
see
it
with
with
much
of
that
information.
The
same
way
and.
C
B
J
A
D
Yes,
president
erickson
and
commissioners
for
the
public's
purpose
as
well
as
the
commission,
I
just
wanted
to
update
the
appointment
process
for
when
terms
of
commissioners
expire.
So
the
end
of
this
year,
both
president
erickson
and
commissioner
peterson's
terms
do
expire
and
as
part
of
the
city's
boards
and
commission
appointment
process
when
a
term
now
does
expire.
That
position
is
open
for
all
community
members,
including
the
incumbents,
to
apply
and
to
be
interviewed
by
a
panel.
D
The
selection
panel
then
will
forward
their
top
candidates
to
the
appointee,
with
which
case
the
port
authorities
commission
is
appointed
by
the
mayor
with
city
council
approval
the
application
for
the
two
port
authority.
Commission
seats
will
be
open
next
week
september,
12th,
with
a
tentative
deadline
right
now
of
october
31st.
D
The
round
of
interviews
is
currently
slated
to
be
scheduled
for
mid-november,
with
the
mayor's
recommendation
going
before
the
city
council
at
the
november
28th
meeting,
so
just
wanted
to
provide
an
update
for
the
commission
as
well
as
any
public
that
may
watch
this
to
understand
that
process
and
to
let
them
know
that
there
will
be
two
positions
opening
up
here
for
the
appointment
process.
D
G
Jason's,
just
wondering
is
this
fairly
new
approved
by
the
council,
I
presume
the
panel
process
and
then,
who
comprises
the
panel?
Who
who,
who,
who
are
the
people
making
up
the
panel
and
and
and
yeah?
That's
it?
I
guess.
D
President
erickson
erickson,
commissioner
lund,
this
appointment
process
is,
is
fairly
new.
This
was
recently
implemented
last
year.
I
believe
was
the
first
time
with
the
hra
commission
when
they
went
through
their
interview
process.
D
The
interview
panel
is
selected
via
staff
and
so
staff
kind
of
reaches
out
to
the
various
commission
members,
typically
how
the
hra
has
done
it
is.
It
was
the
president
and
then
the
the
vice
chair
excuse
me.
It's
the
chair
and
the
vice
chair
of
the
hra
commission,
two
candidates,
the
hra
administrator,
also
sat
on
the
interview
panel
as
well
for
the
port
authority.
D
We
have
extended
an
offer
to
to
commissioner
hunt
and
commissioner
bussey
to
sit
on
that
panel
as
of
right
now
we
are
still
internally
reviewing
if,
if
a
member
of
the
port
authority
staff
will
sit
on
that
panel,
in
addition,
we
are
combining
the
port
authority
with
the
hra
commission
selection,
so
we'll
be
so
that
interview
panel
will
be
members
from
both
the
port
authority
and
the
hra.
D
The
hra
has
selected
their
chair,
chair
lewis,
as
well
as
commissioner
or
board
member
huhi
from
the
agree
board.
D
President
erickson
and
commissioner
lund
for
the
panel
for
the
interview
panel,
there
will
be
most
likely
two
commissioners
sitting
on
that
panel,
potentially
a
staff
member,
so
up
to
three.
C
Mr
president,
so
is
the
the
november
28th
appointment
date.
Is
that
prescribed
by
anything
in
particular,
or
is
that
just
best
for
the
timing
of
all
of
this,
and
I
only
asked
because
on
that
monday
night
I
I
may
have
a
conflict.
D
President
erickson
and
commissioner
russell
as
of
right
now,
I
think
it
was
just
the
schedule
that
our
the
community
outreach
division
had
placed
within
their
tentative
schedule.
I
can
definitely
reach
out
to
them
and
and
make
them
aware
of
that
and
see
if
we
can
push
it
back
to
the
first
meeting
in
december
for
the
city
council
that
might.
D
And
we
just
want
to
make
sure
that
we
do
have
someone
appointed
and
ready
to
go
for
that
january
meeting.
Thank
you.