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Commission approves lease termination payment for Bloomington Health Foundation to keep nonprofit downtown
Summary
The commission approved key terms of a lease termination with the Bloomington Health Foundation, waiving rent for specified months and authorizing a $19,542.50 moving/relocation payment to help the foundation relocate within Bloomington.
The Redevelopment Commission on Sept. 2 approved key provisions of a lease termination with the Bloomington Health Foundation, including waived rent for August and September (and through Oct. 15) and a moving/relocation payment of $19,542.50 to assist the nonprofit’s move.
A commissioner recused themself from the discussion because they serve on the foundation’s board. Staff said the foundation will relocate within Bloomington and that the settlement figure reflects declared moving and relocation expenses, including technology and AV costs. Staff described the foundation as a valued community partner and recommended approval to keep the organization local.
Commissioners asked how many tenants remained in Showers West; staff responded that after the two approved terminations there would be approximately five tenants left and that negotiations were ongoing. The commission approved resolution 25-115 by roll call with the noted recusal recorded in the minutes.
Background: Staff said the payment covers forgone rent and certain relocation costs; funds will be paid from the city’s rent/operational account for RDC-managed properties. The commission’s action is intended to facilitate the foundation’s timely relocation and continued local operations.
