May 12, 2026 Housing and Redevelopment Authority Meeting

The City of Bloomington Housing and Redevelopment Authority (HRA) held a meeting on May 12, 2026, focusing on several procurement and budget-related items. Key discussions included approval of a term sheet for the Lyndale Apartments project, a 180-unit affordable housing development by Real Estate Equities. The HRA considered committing tax increment financing (TIF) assistance of approximately $3 million over 25 years, with potential additional funding requests from the Local Affordable Housing Assistance (LAHA) program depending on other grant awards. The board approved a non-binding term sheet to support the project moving forward. Additionally, the HRA approved a general amendment to the 2025 annual action plan to increase public service funding to Senior Community Services by $19,970, reallocating funds from the rehab loan program. The meeting also covered the 2026 Community Development Block Grant (CDBG) public services funding, awarding $477,190 to local nonprofits including VEAP, Bridging, and Home Line for rental assistance, furniture provision, and legal services. The board discussed compliance and reporting requirements for these federal funds. Updates on various affordable housing initiatives, energy efficiency programs, and upcoming projects were provided. The meeting concluded with a unanimous vote to adjourn.