The Bloomington City Council on Monday agreed to extend an economic incentive agreement with Jamie and Kelly Mathy for their redevelopment of One Main Plaza downtown.
The council also voted to approve the final plat for an east side housing development addition; spend about $595,000 on the city’s three golf courses; and accepted a $350,000 state grant to provide home-repair assistance.
Red Raccoon Games expansion
The council agreed to give the Main Plaza development project another six months to find tenants to join Red Raccoon Games at the location.
Last spring, the council OK’d an economic incentive agreement with Forgetful Friends LLC — owned by Jamie and Kelly Mathy — that created a tax abatement program tied to renovation of the One Main Plaza building at 301 N. Main St.
Jamie Mathy resigned from his city council seat shortly before the May 23 vote to avoid a conflict of interest.
Plans call for Forgetful Friends to double the size of Red Raccoon Games, and to lease space to additional retailers — though the slower economy has hampered efforts to recruit businesses into the venture. So, the owners asked for more time.
The amended tax-abatement plan pushes back deadlines requiring triple retail occupancy from April 1 to Oct. 31; and those retail openings from Oct. 31, 2023 to April 30, 2024. The amendment also adjusts payment dates, but maintains the agreement ends once $196,000 is reimbursed.
City staff have said without the amendment, the venture would be financially unviable.
More housing for east side
Developer Krishna Balakrishnan got the council’s OK Monday to move forward on expanding the Villas at Woodbine development near the Park Regency Hotel that he also owns.
By approving the seven-acre plat for the 16th addition to Hawthorne Commercial Subdivision, the developer can add 15 single-family homes, and an apartment building. It’s south of G.E. Road, and west of Towanda-Barnes Road. About 24 acres there are unplatted.
Balakrishnan will pay about $62,000 in tap-on fees to cover city costs of adding public infrastructure. He also is developing Infiniti Pointe subdivision that Normal leaders just OK’d for the town’s west side.
City golf courses
The council amended its annual budget to reflect its decision to pay up front for golf course needs — rather than financing as originally planned.
About $595,000 gets transferred from the city’s general fund to the golf fund. Board materials show the city decided to use its general funds, as its reserves are adequate.
The city will use the money to purchase equipment, and address deferred maintenance issues at its three courses: Prairie Vista, about $275,000; The Den at Fox Creek, about $213,000; and Highland Park, roughly $107,000.
Home repair assistance
Through the Illinois Housing Development Authority’s Home Repair and Accessibility Program, Bloomington will be able to offer funds to repair roughly seven single-family homes in the community. Full eligibility criteria will be announced at a later date, but, like other IHDA housing rehabilitation programs, the city has historically offered, the household income limit is at or below 80% of the area median income, about $67,000.
In other business, the council OK’d:
- Spending about $290,000 on five Ford police interceptors, the utility vehicles used by the Bloomington Police Department. The city initially OK’d the purchase of five hybrid models, but those proved to be unavailable at this time.
- Spending about $68,000 to replace flooring on BPD’s second floor.
- Annual intergovernmental agreements with Normal and McLean County to provide access to the city of Bloomington’s police shooting range, and to oversee the 2023 Byrne Justice Assistance Grants. Bloomington was awarded about $25,000.
