[0:05] HELLO BLOOMINGTON. I’M MAYOR TIM BUSSE AND THIS  IS THE COUNCIL MINUTE FOR THE WEEK OF AUGUST 4TH.  [0:10] AT OUR MEETING ON MONDAY NIGHT, THE COUNCIL  ADOPTED A RESOLUTION AWARDING THE SALE OF   [0:14] GENERAL OBLIGATION CHARTER BONDS. THE BOND  PROCEEDS WILL BE USED TO FINANCE CAPITAL   [0:19] IMPROVEMENTS AT TRETBAUGH AND BRYANT PARKS,  FOR FIELD MAINTENANCE AT DRED SCOTT FIELDS,   [0:24] AND FOR PARKING LOT IMPROVEMENTS. THIS IS EXCITING BECAUSE THE WORK   [0:27] AT TRETBAUGH AND BRYANT ARE DIRECTLY RELATED  TO THE PRIORITIES AND RECOMMENDATIONS OF THE   [0:33] PARK SYSTEM MASTER PLAN. YOU MIGHT RECALL THE  WORK THAT WENT INTO DEVELOPING THE PARK SYSTEM   [0:37] MASTER PLAN WAS COMPREHENSIVE. IT WAS A ROBUST  PROCESS THAT INCLUDED EXTENSIVE INPUT FROM THE   [0:43] COMMUNITY, CONSULTANTS, AND CITY STAFF. THERE WERE TWO IMPORTANT TAKEAWAYS:   [0:47] THE FIRST WAS THAT SIGNIFICANT INVESTMENT  IS NEEDED TO UPDATE AND IMPROVE THE QUALITY   [0:52] OF PARKS IN BLOOMINGTON. THE SECOND IS THAT  BLOOMINGTON HAS THE OPPORTUNITY TO RETHINK WHAT   [0:58] PARKS COULD OR SHOULD BE. WITH THAT IN MIND, WE  BROKE GROUND AT TRETBAUGH A COUPLE OF WEEKS AGO   [1:04] ON THE CITY’S FIRST MOUNTAIN BIKES SKILLS COURSE  AND AN ALL-WHEEL EXPERIENCE. ON AUGUST 21 WE’LL   [1:10] BREAK GROUND AT BRYANT ON THE CITY’S FIRST FULLY  INCLUSIVE AND ACCESSIBLE PLAYGROUND. AS I SAID,   [1:16] THIS IS REALLY EXCITING STUFF. THERE WAS ALSO SOME EXCITEMENT IN   [1:19] THE BOND ISSUANCE RESOLUTION THAT PASSED.  YES, IT WAS NUTS AND BOLTS CITY STUFF BUT   [1:24] THERE WERE A COUPLE OF THINGS WORTH NOTING. FIRST, THERE WERE 11 BIDDERS FOR THE BONDS   [1:29] WHICH IS AN UNUSUALLY HIGH NUMBER AND IT  INCLUDED AT LEAST ONE BIDDER WHO ADMITTED   [1:34] THAT THEIR FIRM TYPICALLY DOESN’T  BID ON BONDS IN THIS PRICE RANGE.  [1:38] SECOND, AS A RESULT OF THE BIDDING PROCESS,  BLOOMINGTON ENDED UP WITH A VERY FAVORABLE   [1:44] INTEREST RATE OF 2.729 PERCENT. THAT’S SIGNIFICANT  BECAUSE WHEN THE COUNCIL FIRST AUTHORIZED BOND   [1:51] ISSUANCE IN APRIL, THE MAXIMUM AMOUNT WAS SET AT  $11.5 MILLION. WE WENT TO MARKET EXPECTING THE   [1:58] AMOUNT TO BE $10.29 MILLION. WHEN THE BIDDING WAS  COMPLETE AND THAT FAVORABLE INTEREST RATE WAS SET,   [2:05] THE FINAL AMOUNT WAS $9.1 MILLION WHICH INCLUDES  ALL THE COSTS OF ISSUANCE. ABOUT $2.4 MILLION LESS   [2:14] THAN ORIGINALLY ANTICIPATED. THAT’S GOOD NEWS. THERE ARE A LOT OF FACTORS THAT GO INTO A BOND   [2:20] ISSUANCE, AND THE CITY HAS ASKED OUR  BOND ADVISORS TO DO SOME DIGGING AND   [2:24] ASK HOW WE ENDED UP WHERE WE DID. BUT WE CAN  IDENTIFY A FEW FACTORS THAT PLAYED A ROLE.  [2:30] THE FIRST IS BLOOMINGTON’S STELLAR FINANCIAL  REPUTATION. BLOOMINGTON IS STILL ONE OF ONLY   [2:35] A HANDFUL OF CITIES NATIONWIDE THAT HAS THREE  TRIPLE A BOND RATINGS. IN REVIEWING THIS OFFERING,   [2:41] ONE OF THOSE RATING AGENCIES, STANDARD AND  POORS WROTE: BLOOMINGTON’S KEY CREDIT STRENGTHS   [2:47] INCLUDE ITS VERY STRONG AND EXPANDING ECONOMY,  WHICH COUPLED WITH ROBUST FINANCIAL MANAGEMENT   [2:52] PRACTICES, HAS LED TO STEADY REVENUE GROWTH AND A  STRONG OVERALL FINANCIAL PROFILE. OUR REPUTATION   [3:00] DEFINITELY PLAYED AN IMPORTANT ROLE. ANOTHER FACTOR THAT MAY HAVE PLAYED A   [3:04] ROLE IS THAT BLOOMINGTON HAS BEGUN IMBEDDING  ENVIRONMENTAL, SOCIAL, AND GOVERNANCE ISSUES   [3:10] INTO OUR BOND PROCESS. ON THIS ISSUANCE, THE CITY  REALLY EMPHASIZED THE SOCIAL PIECE IN REGARD TO   [3:16] OUR RACIAL EQUITY AND SUSTAINABILITY ACTIVITIES. AT A VERY HIGH LEVEL, TO QUALIFY AS A SOCIAL BOND,   [3:23] THE PROCEEDS MUST FINANCE SOCIAL PROJECTS  OR ACTIVITIES THAT ACHIEVE POSITIVE   [3:28] SOCIAL OUTCOMES AND/OR ADDRESS A SOCIAL ISSUE. THESE PROJECTS FOCUS ON IMPROVING ACCESS TO AN   [3:34] ESSENTIAL SERVICE – PARKS, AND TARGET SPECIFIC  POPULATIONS LIKE PEOPLE WITH DISABILITIES,   [3:39] HISTORICALLY UNDERSERVED POPULATIONS,  AND FAMILIES WITH YOUNG CHILDREN. THE   [3:43] PROJECTS ARE ALSO IN LINE WITH SIX OF THE 17  UNITED NATIONS SUSTAINABLE DEVELOPMENT GOALS.  [3:50] A FINAL FACTOR THAT LIKELY PLAYED A ROLE IN OUR  FAVORABLE INTEREST RATE IS THE FACT THAT THE   [3:54] FINANCIAL MARKETS HAVE TAKEN A HIT OVER THE PAST  WEEK OR SO. TIMING AS THEY SAY, IS EVERYTHING.  [4:00] THE BOTTOM LINE IS THAT THE BOTTOM LINE  WAS VERY GOOD FOR BLOOMINGTON ON THIS   [4:04] BOND ISSUANCE, AND WE’LL BE LOOKING A  BIT DEEPER TO BETTER UNDERSTAND WHY.  [4:09] ALSO THIS WEEK, IT WAS ANNOUNCED THAT THE  HATCH BLOOMINGTON RETAIL PITCH COMPETITION   [4:13] IS DOWN TO OUR FINAL THREE. THE THREE  FINALISTS EMERGED THROUGH A COMPETITIVE   [4:17] PROCESS THAT INCLUDED PITCHES TO THE PANEL OF  JUDGES AND A WEEK OF ONLINE COMMUNITY VOTING.  [4:22] OUR TOP THREE FINALISTS ARE: KALSONI: A STARTUP DEDICATED   [4:26] TO EMPOWERING WOMEN AND GIRLS BY PROVIDING  MODEST AND CULTURALLY SENSITIVE ACTIVEWEAR AND   [4:31] WELLNESS INITIATIVES, EMPHASIZING COMMUNITY  ENGAGEMENT AND SUPPORT FOR WOMEN’S HEALTH.  [4:35] NUNAA: A TAKEOUT AND RESERVATION-BASED  RESTAURANT CONCEPT OFFERING AUTHENTIC   [4:40] WEST AFRICAN CUISINE, AIMING TO FILL A GAP  IN THE CULINARY LANDSCAPE OF BLOOMINGTON.  [4:45] SCRAMBLIN' EGG: A RESTAURANT SPECIALIZING IN  HIGH-QUALITY, QUICK-SERVICE BREAKFAST FOODS,   [4:50] TRANSITIONING FROM A FOOD TRUCK TO A  PERMANENT, BRICK-AND-MORTAR LOCATION TO   [4:54] BETTER SERVE ITS GROWING CUSTOMER BASE. CONGRATULATIONS TO OUR FINAL THREE.   [4:58] THEY’VE ALL DONE A GREAT JOB AND CERTAINLY DESERVE  TO MAKE IT THIS FAR. I ALSO WANT TO CONGRATULATE   [5:03] AND CALL OUT THE OTHER SEVEN ENTREPRENEURS WHO  WERE PART OF OUR GROUP OF 10 FINALISTS AND WHO   [5:09] PRESENTED THEIR BUSINESS PITCHES BACK ON JULY  29. IF YOU HAVEN’T YET, I ENCOURAGE YOU TO GO   [5:14] TO THE HATCH BLOOMINGTON WEBSITE AND WATCH ALL OF  THE 10 FINALISTS. YOU’LL HEAR CREATIVE IDEAS FROM   [5:19] PASSIONATE PEOPLE WHO ARE SO VERY EXCITED TO GET  THEIR BUSINESSES OFF THE GROUND. HATS OFF TO THEM   [5:24] FOR THE WORK THEY PUT INTO THIS PROCESS AND HERE’S  HOPING THAT THE EXPERIENCE THEY’VE GAINED LEADS   [5:29] TO THEM OPENING A BUSINESS HERE IN BLOOMINGTON. THE FINAL STEP IN OUR HATCH BLOOMINGTON CONTEST   [5:33] IS THE HATCH-OFF EVENT ON THURSDAY, AUGUST 22  WHERE THE FINAL THREE CONTESTANTS WILL HAVE ONE   [5:39] MORE OPPORTUNITY TO SHOWCASE THEIR ENTREPRENEURIAL  VISION. THE EVENT IS IN THE BLACK BOX THEATER HERE   [5:44] AT CIVIC PLAZA AND EVERYONE IS INVITED TO  ATTEND, OR YOU CAN WATCH IT VIA LIVESTREAM.   [5:49] AFTER OUR FINALISTS MAKE THEIR PITCHES, ON-LINE  COMMUNITY VOTING WILL BE OPEN THROUGH THURSDAY,   [5:53] AUGUST 29. THE WINNER OF HATCH BLOOMINGTON’S  $100,000 BUSINESS ASSISTANCE AWARD WILL BE   [5:59] ANNOUNCED IN EARLY SEPTEMBER. FOR MORE  INFORMATION VISIT HATCHBLOOMINGTON.COM.  [6:06] THIS WEEK, NEIGHBORHOODS ACROSS BLOOMINGTON  CELEBRATED NATIONAL NIGHT OUT. I HOPE YOU HAD   [6:10] A CHANCE TO GET OUT AND SPEND TIME WITH YOUR  NEIGHBORS ON A BEAUTIFUL EVENING AND THAT YOU   [6:14] ENJOYED A VISIT FROM BLOOMINGTON  POLICE OFFICERS OR FIRE FIGHTERS.  [6:18] THIS IS THE 41ST ANNUAL NATIONAL NIGHT OUT  AND ABOUT 320 BLOOMINGTON NEIGHBORHOOD GROUPS   [6:23] PARTICIPATED. THE OVERALL THEMES OF NATIONAL  NIGHT OUT HAVE ALWAYS BEEN BUILDING COMMUNITY   [6:28] PARTNERSHIPS, STRENGTHENING NEIGHBORHOOD SAFETY  AND AWARENESS, AND ENHANCING COOPERATION. I THINK   [6:33] IT’S SAFE TO SAY THAT THOSE THREE THINGS ARE  THE FOUNDATION OF PUBLIC SAFETY IN ANY CITY.  [6:39] I HAD A GREAT TIME TALKING WITH  PEOPLE, ENJOYING A LOT OF GOOD FOOD,   [6:43] AND SHARING THE MESSAGE THAT CHIEF HODGES  SHARED AT MONDAY’S COUNCIL MEETING: THAT   [6:47] RIGHT NOW CRIME IN BLOOMINGTON IS DOWN 16 PERCENT  FROM LAST YEAR WHICH PUTS US ON PACE TO HAVE ONE   [6:53] OF THE LOWEST CRIME RATES IN CITY HISTORY. THANK YOU SO MUCH TO CHIEF HODGES AND THE   [6:58] BLOOMINGTON POLICE LEADERSHIP TEAM, AND  ALL OF OUR MEN AND WOMEN IN BLUE. THANKS   [7:02] ALSO TO OUR BLOOMINGTON FIREFIGHTERS AND OUR  BLOOMINGTON CRIME PREVENTION ASSOCIATION FOR   [7:06] THE OUTSTANDING WORK THEY DO AND FOR BEING SUCH  GREAT AMBASSADORS OF THE CITY OF BLOOMINGTON.   [7:11] THANKS ALSO TO EVERYONE IN NEIGHBORHOODS ACROSS  THE CITY WHO PLANNED AND ORGANIZED PARTIES,   [7:15] AND TO THE NEIGHBORS WHO CAME TOGETHER. AND A SPECIAL THANK YOU TO KATIE ZER-ULL,   [7:20] OUR COMMUNITY OUTREACH AND ENGAGEMENT  SPECIALIST IN THE POLICE DEPARTMENT,   [7:23] FOR HER INCREDIBLE WORK COORDINATING NATIONAL  NIGHT OUT AGAIN THIS YEAR. IT’S ONE OF THE BEST   [7:29] NIGHTS IN BLOOMINGTON EVERY YEAR. WELL DONE KATIE. THAT WILL DO IT FOR THIS WEEKS COUNCIL MINUTE.   [7:35] THANKS MUCH FOR JOINING ME. UNTIL  NEXT TIME, STAY SAFE BLOOMINGTON.