Bloomington RDC adopts 2026 spending plan with major capital and debt-service items
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Summary
The Redevelopment Commission approved its 2026 spending plan, which prioritizes capital expenditures and includes more than $9 million in bond debt-service payments and a $75,000 grant allocation with an added 15% professional fee line. The plan will be sent to the DLGF.
The City of Bloomington Redevelopment Commission on Nov. 17 approved its annual spending plan for 2026 and directed staff to file the document with the Department of Local Government Finance.
Treasurer (unnamed) told commissioners the plan allocates most spending to capital expenditures and includes "over $9,000,000 in bond debt service payments." The treasurer also said the RDC moved a grant into the grants and contributions line, describing it as "$75,000 plus 15% professional expenses." The detailed breakdown was included in the meeting packet from the prior meeting, the treasurer said.
Commissioners asked whether the spending plan provided adequate flexibility for ongoing redevelopment work in Hopewell and other areas. "Based on this funding, the spending plan gives us adequate flexibility to maneuver in any of these Hopewell or other areas," said Scambeluri. The treasurer agreed that if the RDC needed to amend the spending plan during the year, staff would return the amendment to the commission and then submit it to the DLGF.
The commission moved and seconded the resolution to adopt the spending plan. The motion passed by voice vote.
The treasurer noted that more detailed line-item explanations are available in the meeting packet from earlier presentations, and commissioners referenced those prior presentations when discussing the plan. The next procedural step is to file the adopted spending plan with the DLGF; any amendments during the year would follow the same submittal process.