Both Tim Busy and Sean Nelson took the oath of office as port authority commissioners at the start of the meeting; Nelson retains his role as secretary. The board also reappointed the full 2025 slate of officers for 2026 by a 6-0 vote.
Watch @ 2:07 ↗Commissioners voted 7-0 to amend the American Square TIF plan, expanding district boundaries by March 16 deadline to include the Riverview office tower and its parking ramp. The developer plans to convert five of the tower's 15 floors into 75 units of senior affordable apartments (60% AMI or better) after the original Phase 2 'Quinn' project on privately-owned land fell through; the parking ramp will be rehabilitated by the developer at no city cost. No financial assistance is committed yet — staff will negotiate a development agreement and return for future approval.
Watch @ 7:16 ↗The board voted 7-0 to allocate up to $400,000 (reallocated from existing 2026 budget, not new money) for a grant program giving eligible small businesses up to $10,000 (two months' rent/mortgage, paid directly to landlords) after ICE enforcement actions caused revenue drops of 50-100% at some Bloomington businesses, including immigrant-owned restaurants and markets. NextStage will administer applications starting this February; commissioners pushed staff to tighten anti-fraud safeguards, define a fair 'comparable period' for the required 30% revenue-decline threshold, and prevent landlords from double-dipping.
Watch @ 27:21 ↗Staff reported 2025 preliminary revenues of $2.87M against budgeted expenses of $2.196M, with actual expenses of only $1.35M, producing an ending fund balance of $1.94M. The board voted 7-0 to approve budget adjustments carrying unspent 2025 facade-program, business-retention, and Hatch Bloomington funds into 2026, after Commissioner Nelson questioned whether underspending reflected low demand (staff confirmed it was a timing/reimbursement-process issue, not lack of applicants).
Watch @ 52:43 ↗Commissioners voted 7-0 to approve the 2026 work plan covering real estate/development, business assistance, workforce development, and creative placemaking, including new programs like Bloom and Grow networking, a CEO roundtable mentorship program, and continued facade/business retention grants. Administrator Holly noted the Hatch Bloomington grant launch will be delayed at least a month in favor of prioritizing support for existing struggling businesses.
Watch @ 1:04:37 ↗Administrator Holly will begin parental leave next week for three months, with Assistant Administrator Kevin Kane leading port meetings and serving as council liaison, and Community Development Director Kim Berggren acting as port director for contract sign-offs. Separately, the board's consent agenda was corrected to remove retiring bond counsel Julie Edington's name, with Gina Fiorini expected to take over bond work at Kennedy & Graven/QTAC Rock.
Watch @ 1:21:23 ↗