The initial potential term sheet that has been floated by the city of Bloomington for the acquisition of the Monroe County convention center is now public.

The key points of the proposal include the transfer of the convention center at 3rd Street and College Avenue to the city of Bloomington—as well as other property that has been purchased by the county government with proceeds from the innkeeper’s tax.

The city wants to acquire the convention center, in order to purse an expansion of the facility independent of the county, because the joint venture between the two governments was stalled even before the COVID-19 pandemic hit.

Under the terms, the county would also have to support an annual transfer from the county to Bloomington, or its property manager, the proceeds from the county’s 5-percent innkeeper’s tax. The tax is overseen by a five-member convention and visitors commission, which is appointed by county government. It’s the innkeeper’s tax that is used by the county to make the payments on the existing debt on the convention center.

As part of the term sheet, Bloomington would pay off the existing debt, which is about $2.5 million. The only other direct compensation for any real estate would be for property that the county has acquired using “non-convention center-dedicated funds.” That appears to be synonymous with “funds other than innkeeper’s tax revenue.”

Other property that has been acquired by the county for the convention center expansion, like the former NAPA auto parts store at 3rd and Walnut Streets, would simply be transferred to the city, without cash compensation. Continue reading “Bloomington’s initial convention center pitch: County transfers property, city pays debt, gets hotel tax” →

Eric Spoonmore (Aug. 3, 2022)

Don Griffin (Aug. 3, 2022)

Monroe County board of commissioners (Aug. 3, 2022)

City of Bloomington with vicinity of convention center highlighted with a red square.

Close up of red square inset. Bloomington owned properties in blue, county-owned in green.

The city of Bloomington is now interested in purchasing Monroe County’s convention center and possibly other land from the county government, in order to pursue the expansion of the facility.

That’s the message that was conveyed to county commissioners during public comment at the start of their Wednesday meeting, when Greater Bloomington Chamber of Commerce president Eric Spoonmore told the commissioners that “a viable path forward for convention center expansion” could “involve a transfer of assets from the county to the city.”

Spoonmore said the city of Bloomington is “willing to reasonably compensate the county.” No dollar figures were mentioned by Spoonmore or by deputy mayor Don Griffin, who followed Spoonmore to the public mic.

Griffin wrapped up his remarks in under a minute, saying, “We’re ready to talk. I’m ready to listen. And let’s move forward.”

The expansion project which was supposed to be a joint venture of the county and city governments, has been stalled since early March 2020, before the pandemic hit.  The county and the city were having trouble coming to terms over the selection of members for a capital improvement board, which could provide governance for the expanded convention center.

If the city were the sole governmental entity undertaking the expansion, that work would not require the kind of close collaboration between the city and the county, which up to now has not been achieved. Continue reading “Bloomington wants to buy Monroe County convention center for expansion, no numbers given” →