Downtown - Southwest TIF District

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On October 24, 2016, the City Council established the Downtown - Southwest TIF District which includes commercial properties along Madison Street and Washington Street in downtown Bloomington. The Downtown - Southwest Redevelopment Project Area is intended to induce development interest within this area and make improvements to public infrastructure. 

For more information about the Downtown – Southwest TIF District, please review the documents at the links below:

Downtown – Southwest Redevelopment Project Area Tax Increment Financing Redevelopment Plan 
(2.95 MB PDF)

Downtown – Southwest Redevelopment Project Area Boundary Map
(.5 MB PDF)


Downtown-Southwest Redevelopment Project Area Timeline:

March 14, 2016: Resolution 2016-09 - A Resolution in support of a proposed Redevelopment Project from Bloomington Downtown Redevelopment Partners, LLC (Commerce Bank & Front N' Center buildings hotel / conference center proposal).

May 9, 2016: Ordinance No. 2016-43 – Authorized TIF consultant Peckham Guyton Albers & Viets (PGAV) to conduct a Feasibility Study for the purpose of creating a Redevelopment Project Area that would include the City-owned Major Butler Parking Lot and adjacent qualifying properties along Madison Street and Washington Street in downtown Bloomington.

August 10, 2016: Redevelopment Plan made available for inspection and review at the office of the City Clerk at City Hall.

August 22, 2016: Resolution 2016-30 - A Resolution rejecting a request for municipal financial assistance for a proposed redevelopment project from Riverside Lodging Bloomington LLC / Bloomington Downtown Redevelopment Partners, LLC and authorizing Next Steps (Commerce Bank & Front N' Center buildings hotel / conference center proposal).

August 22, 2016:  Ordinance No. 2016-86 - Set a date for, and approved a public notice of a public hearing for the Downtown - Southwest Redevelopment Project Area.

October 10, 2016: Public Hearing at City Hall.

September 8, 2016: Joint Review Board meeting at City Hall.

October 24, 2016:  Ordinance No. 2016-114 – Approved the Tax Increment Financing Redevelopment Plan for the Downtown - Southwest Redevelopment Project Area.

October 24, 2016: Ordinance No. 2016-115 – Designated the proposed Downtown - Southwest Redevelopment Project Area, a Redevelopment Project Area pursuant to the Tax Increment Allocation Redevelopment Act.

October 24, 2016: Ordinance No. 2016-116 – Adopted Tax Increment Allocation Financing for the Downtown - Southwest Redevelopment Project Area.

June 12, 2017: The McLean County Clerk issued a certificate certifying the Redevelopment Plan & Project and the EAV of the Downtown-Southwest TIF District.

December 18, 2017: Resolution No. 2017-52 – Authorized a Redevelopment Project in the Downtown - Southwest Redevelopment Project Area (Sidewalk Replacement).

January 25, 2018: Joint Review Board meeting at City Hall.

August 13, 2018: Resolution No. 2018-47 – Authorized a Redevelopment Project in the Downtown - Southwest Redevelopment Project Area (Reconfigure and resurface Front Street from Madison Street to Center Street).

January 31, 2019: Joint Review Board meeting at City Hall.

 


State of Illinois Comptroller Annual Tax Increment Finance Reports:

Below are links to the reports submitted by the City each fiscal year to the State of Illinois Comptroller detailing the activities undertaken in furtherance of the objectives of the Downtown - Southwest Redevelopment Plan.

FY 2017 Downtown-Southwest TIF Annual Report

FY 2018 Downtown-Southwest TIF Annual Report