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Council approves temporary sales-tax sharing to help downtown businesses during streetscape construction
Summary
The council approved an ordinance authorizing short-term sales-tax sharing with downtown businesses affected by Phase 1 of the downtown streetscape. Eligible businesses will receive 50% of the city's share of sales taxes collected while adjacent construction is active, with payments to be monthly where possible.
The Bloomington City Council approved an ordinance authorizing short-term sales-tax sharing agreements to reimburse downtown businesses affected by Phase 1 of the downtown streetscape project.
Deputy City Manager Tyus described the proposal: eligible businesses would receive 50% of the city's share of sales taxes generated by that business for…
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