Connect with us

Local News

Council of Bloomington City votes to expand the Urban Enterprise Zone



Bloomington, Indiana – A law extending the Urban Enterprise Zone for an extra five years was approved by City Council on Wednesday.

The Bloomington Urban Enterprise Zone was created in 1992, per a city memorandum, to encourage investment and economic development in the city’s urban neighborhoods. The zone is the area to the north, west, and south of Bloomington’s downtown where businesses and locals can apply for grants, tax breaks, and scholarships. With Councilmember Stephen Volan casting the lone negative vote, the amendment was approved 7–1. Matt Flaherty, a council member, did not participate in the voting.

Despite the positive work that the board of Urban Enterprise and Development, which manages the Urban Enterprise Zone, does for the community, Volan indicated that he was voting against the proposal to express his dissatisfaction with Mayor John Hamilton’s handling of the Community Redevelopment Economic Districts.

This is deceitful. Simply put, Volan stated. “And I directly place the blame on Mayor Hamilton, who had the opportunity to do more but chose not to.”

Businesses in the zone that make investments, such as buying or renovating a building, are eligible for a 10-year property tax discount, according to Andrea de la Rosa, assistant director of small company development. This boosts the zone’s economic activity. According to her, the Urban Enterprise Association receives 20% of the savings from the deduction to fund its initiatives.

The program was commended by councilmember Isabel Piedmont-Smith, who said that it reflected the ideals of the town.

Piedmont-Smith included the following: “the security and safety grants, the accessibility modification grants, the arts grants, the historic preservation facade grants, the diversity, equity, inclusion, and anti-racism training scholarship for businesses.” “All of these show the values that our community holds dear.”

The extension is scheduled to start on January 1, 2024, and last until December 31, 2028.



Leave a Reply

Your email address will not be published. Required fields are marked *