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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 the period construction is underway directly in front of them. Tyus said businesses must be current on city obligations and that payment frequency will depend on state reporting schedules; the city aims to pay monthly when possible. "The goodwill that this could generate to downtown businesses could be great," Tyus told the council.
Supporters said the program would provide targeted relief to businesses that face revenue disruption during extended construction. Council member Hendricks moved approval and Council member Strazza seconded. The clerk recorded the item as passing with no nays.
Staff said the program is intended to be modest in fiscal impact to the city but meaningful to affected business owners; eligibility criteria and payment timing will be set in the implementing agreements.
Votes at a glance: - Ordinance authorizing short-term sales-tax sharing agreements for downtown businesses during Phase 1 streetscape construction — Passed unanimously. (Motion by Council member Hendricks; seconded by Council member Strazza.)
