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Committee lays over Bloomington Port Authority request to extend tax exemption for former hotel site
Summary
Senate File 15-87, seeking a six-year extension of a property tax exemption for an 11-acre redevelopment site in northeast Bloomington, was laid over for inclusion in the omnibus tax bill after testimony from Bloomington Port Authority staff about market conditions and site history.
Senate File 15-87, a request from the City of Bloomington and its Port Authority to extend an economic development property tax exemption for an 11-acre former hotel site, was laid over for consideration in the omnibus tax bill following testimony from Port Authority staff on Wednesday.
Senator Wicklund presented the bill and said the Port Authority seeks a six-year extension to total 15 years of exemption starting January 1, 2025, to allow additional time to market a large redevelopment parcel south of the…
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