November 10, 2026 Housing and Redevelopment Authority Meeting

At its November 10, 2026 meeting, the City of Bloomington Housing and Redevelopment Authority (HRA) approved agreements and project documents allowing the sale of part of the property at 8200 Humboldt Avenue South to the Minnesota Department of Transportation; the roll-call vote was 5–0. The board also approved revised terms for the HRA loan to Bloomington Family Town Homes, owned by CommonBond Communities. The proposal extends the maturity date to December 1, 2038, sets the interest rate at 0%, forgives accrued interest projected to reach $438,947.18 by the end of 2026, and requires repayment of 50% of any positive cash flow toward principal. The original principal was $46,000. The property’s estimated rehabilitation needs are about $4.9 million; CommonBond reported $750,000 in committed Hennepin County funds and a $130,000 grant, and expects to seek additional HRA funding in 2027. The loan vote is described in the transcript as four in favor with one abstention, although the tally is garbled.

The HRA adopted its 2027 budget and levy and its 2028 budget, each by a 5–0 vote. The proposed 2027 levy increase was stated as $230,867; the budget relies heavily on federal, state, and local grants and includes investment in the Bloomington Affordable Home Ownership program and the St. Mark site. Staff also presented proposed amendments to the Opportunity Housing Ordinance, including new affordability compliance options and an increase in the off-site compliance fee from $9.60 to $12 per square foot. The transcript ends before any vote on those amendments, so no adoption is recorded.