$30M in loans for improvements: Bloomington Housing Authority’s Crestmont Community

At its Wednesday meeting, the city council approved the final step in a process that will lend $30M to an entity created by Bloomington Housing Authority (BHA), called Bloomington RAD II, LP.

The money will be used to make  improvements to the 196-unit public housing complex on the city’s northeast side.

A preliminary step in the process was approved by the city council in February.

As part of the improvements, apartments will be reconfigured to accommodate wheelchairs. Safety features will be added. All the apartments will get new flooring, new kitchen cabinets, countertops, dishwashers, and washers and dryers.

Apartments will also get high efficiency furnaces, and air conditioner condensers, new windows, new roofs, and site lighting, according to BHA executive director, Amber Skoby. Continue reading “$30M in loans for improvements: Bloomington Housing Authority’s Crestmont Community”

Crestmont public housing renovations to be funded with $30M bond issuance, units converted to federal RAD program

Bloomington Housing Authority is now in the final stages of converting all of its traditional public housing units to a new funding model, which gives vouchers to residents of the units.

To help make that happen, Bloomington’s city council voted unanimously at its meeting last Wednesday to approve the preliminary issuance of $30 million in bonds, which will be lent to an entity called Bloomington RAD II, LP.

The limited partnership will use the proceeds of the bond issuance to take over the 196 apartments of BHA’s Crestmont Community public housing complex and renovate the units. Continue reading “Crestmont public housing renovations to be funded with $30M bond issuance, units converted to federal RAD program”

Bonds for first step of Bloomington’s public housing conversion get final OK from city council

At its regular Wednesday meeting, Bloomington’s city council voted unanimously to approve the issuance of up to $11 million in economic development notes to support the renovation of Bloomington’s public housing stock.

The bond issuance approved this week was for rehabbing two of the three Bloomington Housing Authority (BHA) properties—the Walnut Woods and Reverend Butler sites. BHA’s executive director, Amber Skoby, told the council that planning will start this summer for similar work on the third BHA site—the Crestmont Community.

“After that’s done, we won’t have any more public housing in Bloomington,” Skoby said.

Councilmember Steve Volan’s reaction conveyed amazement: “Does that mean you won’t have a job? I don’t understand.” Continue reading “Bonds for first step of Bloomington’s public housing conversion get final OK from city council”