[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.