By Howard Packowitz
BLOOMINGTON – The Bloomington City Council has taken initial steps to save the century old former Bloomington High School from demolition.
To do that, aldermen are initiating a sometimes controversial method of providing financial help to Iceberg Development Group, which wants to convert part of the deteriorating school into dozens of affordable apartments for seniors.
The council voted unanimously to hire a St. Louis consultant for $34,000 to conduct a study determining the feasibility of creating a tax increment financing district for the building at 510 E. Washington St. and some nearby properties including land that used to be the old Coachman Motel.
In a so-called TIF district, property tax revenue from the land is not distributed to local taxing bodies, but is rebated to the developer.
Mayor Tari Renner acknowledged District 87 School Superintendent Barry Reilly, who represents one of the taxing bodies, prefers a TIF district that’s limited in size. City Manager David Hales said the city can trim TIF boundaries later.
“The wiser move is maybe start a little larger in TIF boundaries rather than smaller,” said Hales.
“And that’s because as the feasibility study’s completed, then we get that information, we can always reduce the boundaries, but you can’t go back and expand them without starting the process all over,” the city manager said.
The maximum tax rebate to Iceberg is $1.3 million. City staffers said developers have committed to a $17 million investment.
Meantime, the council put on hold plans to annex property for affordable housing on three acres at 102 Greenwood Ave., near Tracy Dr., just south of the city.
Aldermen agreed to the delay after hearing strong opposition from Unit 5 school district representatives. Kids living there would attend Cedar Ridge Elementary School, which has 76% of the students qualifying for free or reduced priced meals. Unit 5 attorney Curt Richardson said that number would likely top 80% if the development happened.
Cedar Ridge PTO President Kendra Bull warned of increased class sizes and she said teachers already have their hands full helping struggling students.
The city council delayed action pending a study determining how the annexation would impact Unit 5.
Howard Packowitz can be reached at [email protected]
