Bloomington is one step closer to its first tenant in a downtown parking garage storefront.
The city’s redevelopment commission approved a potential lease for all 4,059 square feet of commercial space in the Trades District parking garage Monday. The potential tenant is Exclaimer, an email signature management developer headquartered outside London.
“This is not just any company,” economic and sustainable development director Alex Crowley said. “We’ve been trying to be selective about the tenants in the Trades District and this is a great potential tenant.”
In January, Exclaimer acquired Bloomington-based Periodic, an appointment and schedule software developer founded at The Mill by plan commission president and former city council member Brad Wisler.
“It really lends itself well to what we’re trying to accomplish overall in the Trades District,” Crowley said.
Exclaimer’s rent would be $77,121 for the first year and increase by 2.5 percent each subsequent year. The lease lasts four years, but the tenant can leave after three if it pays half of the final year’s rent. This partial payment would be required for the city to break even on its investment of $223,245 for ‘tenant improvements.’
Neighborhood Improvement Grants
The commission also approved $21,551 for three neighborhood improvement projects. The city originally budgeted $30,000, but neighborhood services program manager Angela Van Rooy said only three neighborhoods applied:
- Arden Place Neighborhood Association received $9,000 to install outdoor exercise equipment in Southeast Park. The neighborhood is matching $5,560.
- Blue Ridge Neighborhood Association received $6,000 to repair decorative panels on neighborhood entrances. The neighborhood is matching $1,883.
- Prospect Hill Neighborhood Association received $6,551 to install street sign toppers, a Building Trades Park kiosk, and section signs in Rose Hill Cemetery. The neighborhood is matching $2,227.
