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Council restores cumulative capital development fund rate to support street repairs
Bloomington Common Council · March 6, 2025
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Summary
The council voted to reestablish the cumulative capital development fund at $0.05 per $100 assessed value (Ordinance 2025-08), restoring roughly $127,000 annually for street and road repairs that had been foregone when the fund was not reauthorized in 2021.
The Bloomington Common Council adopted Ordinance 2025-08 to reauthorize the municipal cumulative capital development fund at the $0.05 per $100 assessed value rate for taxes assessed in 2025 and payable in 2026. Controller McClellan said failing to reestablish the fund in 2021…
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