StoryAdoption of five-year economic development strategic plan and related business decisionsFebruary 19, 2025

Port Authority Adopts Five-Year Economic Development Plan

Meeting date: Feb 19, 2025

Published Oct 8, 2025

The Bloomington Port Authority adopted a comprehensive five-year economic development strategic plan Tuesday, establishing a roadmap for expanding business services citywide and supporting economic growth across all sectors.

The plan, developed with consultant firm TIP Strategies through an 18-month process involving 130 participants, focuses on eight key objectives including supporting large employers, small business assistance, innovation and entrepreneurship, and talent attraction. Port Authority Administrator Holly outlined how the authority has grown from serving just the Mall of America area to operating citywide, with staff expanding from 2-4 people to approximately 10.

"Bloomington is a leading center in the region fostering innovation, supporting local businesses and enhancing the quality of life for all residents through equitable strategic and sustainable development," according to the plan's vision statement. The strategy emphasizes four guiding principles: inclusive and equitable growth, sustainability, collaboration, and service.

Commissioners also approved revised terms for a grocery space recapture agreement at Carbon 31 apartment building, designed to attract a new Latino grocery store tenant after the previous operator closed in February 2024. The changes simplify the rent structure with a two-year stabilization period and lower base rent to help ensure the new tenant's success.

The authority additionally appointed officers for another term, with current leadership continuing in their roles, and approved 120-day contracts for bond counsel and general counsel services with Julie Eddington's new firm while conducting a full RFP process. Budget adjustments totaling $219,000 were approved to carry forward unused 2024 funds, including money for the popular facade improvement grant program and the new Bloom facilitator position.

Our proprietary artificial intelligence agent analyzed publicly available documents including meeting agendas, minutes, and transcripts to write this story to help inform local residents. Feedback helps us improve, so please consider rating how we did with the thumbs up or down below.

Also from this meeting

Port Authority adopts five-year economic development strategy
Commissioner Oath of OfficeJun 26, 2026

Want to know when new stories arrive?

Enter your email to receive updates.

We will not use your email for any other purpose. You can unsubscribe at any time.

Votes (8)

Appointment of Officers

7-0 Approved

Dissent: None

Moved by Commissioner Keller [6:58] · Seconded by Commissioner Hunt [8:29]

Commissioners discussed the re-appointment of current officers. While acknowledging the good work and continuity provided by the incumbents, there was a strong sentiment, led by Commissioner Keller and echoed by Commissioner Nelson, that the process should be more deliberate, considering future transitions and broadening participation within the commission to build institutional knowledge.

Consent Agenda Approval

7-0 Approved, with Commissioner Hunt abstaining from Item 3.2

Dissent: Commissioner Hunt abstained on item 3.2 (Designation of Official Repository).

Moved by Commissioner Keller [14:21] · Seconded by Commissioner Lutz [14:31]

The President proposed a single motion to approve all items on the consent agenda, which included designations for the official newspaper, official repository, electronic funds transfer, external/municipal auditor, financial management policies, and estoppel certificates. Commissioner Hunt's abstention from item 3.2 (Designation of Official Repository) was noted without requiring a separate vote.

Proposed Changes to Grocery Space Recapture Agreement at Carbon 31

7-0 Approved

Dissent: None

Moved by Commissioner Keller [38:08] · Seconded by Commissioner Lutz [38:08]

Kevin Kenny and Johnny Meeker (McGuff) presented proposed changes to the financial recapture agreement for the 9,500 sq ft grocery space at Carbon 31. The original tenant, Allendale Market, vacated, prompting a need for revised terms. The proposed changes aim to simplify the agreement, offer a two-year stabilization period with low base rent for a new tenant (a Latino market with grab-and-go options), and remove a business reserve fund. The goal is to make the space more attractive and financially feasible for a new 'destination' grocery store, addressing past marketing shortcomings and ensuring future success.

Appointment of Bond Counsel (Interim)

7-0 Approved

Dissent: None

Moved by Commissioner Peterson [47:47] · Seconded by Commissioner Hunt [47:53]

Holly, Port Authority Administrator, requested approval for a 120-day interim contract with Khattak Rock for bond counsel services. This follows the move of long-time bond counsel, Julie Eddington, from Kennedy and Graven to the new firm. The interim contract ensures continuity of critical legal services while the Port Authority transitions records and prepares for a formal Request for Proposal (RFP) process for both bond and general counsel.

Appointment of General Counsel (Interim)

7-0 Approved

Dissent: None

Moved by Commissioner Keller [48:24] · Seconded by Mayor Bussey [48:24]

Following the discussion on bond counsel, the Port Authority moved to appoint Khattak Rock for general counsel services on a 120-day interim contract. This mirrors the bond counsel arrangement, allowing for a seamless continuation of legal support due to Julie Eddington's firm change, while simultaneously preparing for a comprehensive RFP for both bond and general counsel services.

Port Authority Economic Development Strategic Plan Adoption

7-0 Approved

Dissent: None

Moved by Commissioner Keller [1:19:12] · Seconded by Commissioner Hunt [1:19:18]

Holly presented the new five-year Economic Development Strategic Plan, developed with Type Strategies, designed to guide the Port Authority's expanded citywide role. The plan's vision positions Bloomington as a regional leader in innovation and quality of life, driven by equitable, strategic, and sustainable development. It focuses on eight objectives, including large and small business support, innovation, thriving places, real estate, talent attraction, wraparound services, and marketing. Commissioners praised the plan's robust development process and emphasized the importance of its guiding principles for future decision-making and prioritization, with some advocating for a focused approach on key industries and comprehensive housing strategies.

2024 Budget Adjustments

7-0 Approved

Dissent: None

Moved by Commissioner Keller [1:37:23] · Seconded by Mayor Bussey [1:37:28]

Mary Kay presented 2024 budget adjustments for the General Fund and Park Development Fund. Changes included adjusting operating transfers due to lower expenses, reallocating employee time across funds, and distributing interest revenue. For the Development Fund, unspent budget from the Small Business Center was reallocated to salaries, and carryovers for programs like the Bloom Facilitator, Business Retention, and the Facade Program were approved for 2025. Discussion also touched on the broader policy of carrying over unspent funds, with differing views on flexibility versus strict budgetary adherence.

Annual Report (2024 Accomplishments) and Work Plan (2025 Priorities)

7-0 Approved

Dissent: None

Moved by Commissioner Keller [1:55:18] · Seconded by Mayor Bussey [1:55:25]

Holly presented the Port Authority's 2024 Annual Report, detailing its significant growth (15-fold increase in size), citywide expansion, and key accomplishments in real estate, business assistance (including the successful Facade Improvement Grant leveraging $5M in improvements), and placemaking. The 2025 Work Plan outlined priorities based on the newly adopted Economic Development Strategic Plan, including new responsibilities in workforce development (Bloom in Bloomington), commercial nodes, and ongoing efforts in real estate, business support, and administration. Commissioners expressed strong confidence in the staff's ability to execute the aggressive, yet well-founded, plan, emphasizing the need for flexibility and adherence to guiding principles.

Notable Quotes (22)

I believe in the past it may appear that we've been somewhat pro forma in doing this and I don't think any of us intended do that. I think we vote for people who we believe should do the jobs and, have done a great job and brought that with us.
— Commissioner Keller [6:36]

Appointment of Officers

we need to be cautious about making sure that we've plan for the future and transitions as many of us continue wrinkle in this.
— Commissioner Keller [7:16]

Appointment of Officers

I would agree with Commissioner Keller that we just need to make sure that as as we move forward with our discussions and any of the work that we're that we we make it as broad a tent as possible as we do our discussions... to make sure that it's as broad as possible within the Commission here so that as we wrinkle we all do that there's that there's that additional knowledge there's that additional understanding that additional appreciation of the work that that institutional knowledge.
— Commissioner Nelson [8:40]

Appointment of Officers

Ordinances & Resolutions (23)

Constitution of the United StatesOther

Referenced in Commissioner Cynthia Hunt's Oath of Office.

Constitution of the State of MinnesotaOther

Referenced in Commissioner Cynthia Hunt's Oath of Office.

Oath of Office of the Port Authority of the City of BloomingtonOther

The official oath administered to Commissioner Cynthia Hunt.

Recapture AgreementOther

Agreement between the Port and BXP for Housing LLC related to the grocery space at Carbon 31, undergoing proposed updates.

Local Affordable Housing AidOther

State funding derived from the Metro Sales Tax, passed in the 2023 legislative session, for affordable housing projects.

Local Affordable Housing Aid Usage PresentationOther

THE BLOOMINGTON RECORDER

Port Authority Adopts Five-Year Economic Development Plan

Other Topics from This Document

Commissioner Oath of Office

Introduction of New Employee

Appointment of Port Authority Officers

Consent Agenda Approval

Grocery Space Recapture Agreement Updates (Carbon 31)

Local Affordable Housing Aid Usage

Appointment of Bond Counsel and General Counsel

Port Authority Economic Development Strategic Plan Adoption

2024 Budget Adjustments

Annual Report (2024 Accomplishments) and Work Plan (2025 Priorities)

Legislative and Staff Updates

Also from this meeting

Port Authority adopts five-year economic development strategy

Want to know when new stories arrive?

Go deeper on this topic

Votes (8)

Notable Quotes (22)

Ordinances & Resolutions (23)

Was this story helpful?