Empire Street Corridor TIF District

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On February 22, 2016, the City Council established the Empire Street Corridor TIF District which includes commercial properties along Empire Street between Veterans Parkway and Towanda Avenue. The Empire Street Corridor Redevelopment Project Area is intended to induce development interest within this area and make improvements to public infrastructure.

For more information about the Empire Street Corridor TIF District, please review the documents at the links below:

Empire Street Corridor Redevelopment Project Area Tax Increment Financing Redevelopment Plan 
(4.81 MB PDF)

Empire Street Corridor Redevelopment Project Area Boundary Map
(.5 MB PDF)



Empire Street Corridor Redevelopment Project Area Timeline:


August 24, 2015: Ordinance No. 2015-57 – 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 Colonial Plaza Shopping Center and adjacent qualifying properties.

August 24, 2015: Resolution No. 2015-29 – Inducement Resolution for BT Bloomington, LLC for the Redevelopment of the Colonial Plaza Shopping Center.

November 30, 2015: Redevelopment Plan made available for inspection and review at the office of the City Clerk at City Hall.

December 14, 2015: Ordinance No. 2015-85 – Set a date for, and approved a public notice of a public hearing for the Empire Street Corridor Redevelopment Project Area.

February 8, 2016: Public Hearing at City Hall.

January 6, 2016: Joint Review Board meeting at City Hall.

February 22, 2016: Ordinance No. 2016-08 – Approved the Tax Increment Financing Redevelopment Plan for the Empire Street Corridor Redevelopment Project Area.

February 22, 2016: Ordinance No. 2016-09 – Designated the proposed Empire Street Corridor Redevelopment Project Area, a Redevelopment Project Area pursuant to the Tax Increment Allocation Redevelopment Act.

February 22, 2016: Ordinance No. 2016-10 – Adopted Tax Increment Allocation Financing for the Empire Street Corridor Redevelopment Project Area.

March 14, 2016: Ordinance No. 2016-18 (7.2 MB PDF) – Authorized a Redevelopment Agreement between the City of Bloomington and BT Bloomington, LLC for the redevelopment of the Colonial Plaza Shopping Center.

June 16, 2016: The McLean County Clerk issued a certificate certifying the Redevelopment Plan & Project and the EAV of the Empire Street TIF District.

October 24, 2016: Ordinance No. 2016-117 (7.4 MB PDF) – Authorized a Redevelopment Agreement between the City of Bloomington and Magnus Hotels LLC for the redevelopment of the Baymont Inn at 604 1/2 IAA Drive into a Best Western Plus Hotel.

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

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

 


State of Illinois Comptroller Annual 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 Empire Street Corridor Redevelopment Plan.

FY 2016 Empire Street Corridor TIF Annual Report

FY 2017 Empire Street Corridor TIF Annual Report

FY 2018 Empire Street Corridor TIF Annual Report