August 18, 2026 Bloomington Port Authority Meeting

The City of Bloomington Port Authority held a meeting on August 18, 2026, focusing on updates across workforce development, business assistance, creative placemaking, real estate and development, and administrative matters. Key procurement-related discussions included the presentation of the 2027-2028 preliminary levy and budget, highlighting a 5% increase in property tax revenue to support economic development activities citywide. The budget allocates funds for strategic acquisitions, development-related studies, pre-development costs, and development assistance, with a strategic acquisitions fund balance of approximately $1.95 million as of July 2026. The Port Authority also discussed leveraging partnerships and flexible grant and loan programs to support local businesses, including a $124,000 grant program for existing businesses and plans for a 2% loan program in 2027. Redevelopment projects such as the multi-phase Selton project in Southtown and affordable housing developments funded through tax credits were noted. The meeting concluded with motions passed to adopt the preliminary budgets and levy for 2027 and 2028, with further budget finalization scheduled for later in the year.