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Consultants say market shifts and rising costs justify updating Bloomington’s Opportunity Housing rules; staff proposes raising in‑lieu fee and adding AMI tiers
Summary
An updated housing nexus and feasibility study presented to the council finds rising construction costs and demographic shifts have squeezed developers’ ability to provide deep affordability; staff recommended indexing the in‑lieu fee (proposed ~$12/sq ft) and adding 50% and 30% AMI compliance tiers while continuing community engagement and public hearings.
Consultants and city staff told a joint Bloomington City Council and advisory boards study session that changing market conditions since 2019 have eroded the purchasing power of the Opportunity Housing in‑lieu fee and made it harder for typical projects to include deeply affordable units.
Sean Bourgeois, the lead consultant, summarized a multifaceted analysis — census data, developer interviews and custom financial models — showing a sharp income‑mix shift in Bloomington and construction costs up about 28% from the ordinance’s 2019 baseline. "It's a stunning transformation," Bourgeois said, describing the growth in higher‑income households that has bid up housing prices and rents.
The study said the ordinance has delivered results: developers and the Affordable Housing Trust Fund…
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