At its regular Monday meeting, Bloomington’s redevelopment commission voted to greenlight the formalization of a deal with a potential affordable housing developer for the Kohr Administration Center building, which is a part of the IU Health hospital on 2nd Street.
The potential developer is a group represented by Brinshore Development, Bloomington Housing Authority, and Springpoint Architects, Bloomington’s director of economic and sustainable development Alex Crowley told RDC members on Monday. [Added April 22, 2021 at 9:23 a.m. Rottman Collier Architects is the co-architect in the project group.]
The city of Bloomington will be getting control of the Kohr building in the context of a $6.5 million real estate deal, which calls for Bloomington to take over the whole hospital property on 1st and 2nd streets in 2022. That will come after IU Health moves operations in late 2021 to its new facility, which is currently under construction on the SR-46 bypass.
The question of formalizing a Kohr building deal was put to the RDC, because it’s the public entity responsible for approving tax increment financing (TIF) district funds, which are being used to purchase the hospital site from IU Health.
The RDC’s approval to go ahead and draw up a formal arrangement, will put the group in a position to meet this year’s July 26 deadline for an application to the federal low-income housing tax credit (LIHTC) program, to help finance the project. Awards through the program are due later in 2021, Crowley said. Continue reading “Potential affordable housing encore for Kohr hospital building takes another step”