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Council restores cumulative capital development fund rate to support street repairs
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 reduced the rate to 0.0477 and cost the city about $126,999 in potential revenue. At the restored 5¢ rate, the city estimates approximately $2.76 million will be raised through the fund; the incremental $127,000 is expected to be allocated to street and road repair programs.
Council members asked about taxpayer impact and the controller provided an example: a $400,000 assessed home would pay roughly an additional $9.20 per year under the restored rate. Council discussion framed the increase as modest for taxpayers and meaningful for infrastructure maintenance, and members referenced deferred-maintenance needs and a city LIDAR-based pavement assessment as background for long-term planning.
The ordinance passed by roll-call vote. Council members also discussed sidewalk maintenance and asked that deferred-maintenance planning remain a budget priority.
