The Bloomington Redevelopment Commission set a $30 million construction budget for a new police headquarters at 714 S. Rogers St.
Bloomington Controller and RDC Treasurer Geoff McKim said the amount reflects what the city can commit from its tax increment financing district.
TIF districts allow cities to commit expected future increases in property tax revenue to fund projects. As property values rise, the additional revenue generated by that growth can pay for infrastructure and development.
“We felt like $30 million was a safe number that we could commit to, as well as having enough money to do other future projects that are already on our radar,” McKim said.
He said the city wants to preserve funds for infrastructure projects in Hopewell and the Summit District.
If bids come in higher than $30 million, McKim said the city would have to reevaluate the project and use value engineering to bring costs down.
“If you design really everything that you want, you’re probably going to have a budget that is higher than you can afford,” McKim said.
An April report from American Structurepoint estimated that the project, which reuses the former Bloomington Convalescent Center building, would cost between $39.5 million and $45.3 million.
McKim said the next step is to determine what can be built within the $30 million budget, how much of the 56,000-square-foot building can be reused, how much space the police department and central dispatch need and whether portions of the building can be left unfinished to reduce costs.
The request for proposal lists central dispatch, an emergency operations center, a secure sally port, a real-time crime center and a domestic violence support area. Community space, a swearing-in and reception area and a catering kitchen depend on the budget.
Proposals are due to the RDC by Nov. 6.
The RDC’s original timeline included interview deadlines, presentations and architectural firm selection. Commissioners removed those deadlines at their Oct. 5 meeting, leaving the schedule after Nov. 6 open-ended.
McKim said the city has also relaxed its anticipated bond schedule so financing would not force the commission to rush the process.
“We didn’t want the bond timeline to drive the process,” McKim said at the Oct. 5 meeting.
McKim said the city wants to make sure it has the right experts and architectural firm in place before moving further into the project.
“I think we want to do it right, and I think nobody wants to get in, you know, over our skis on this,” McKim said. “I think we want to make sure that we move systematically, and I just think that’s just being prudent and making sure that we do it right.”
The TIF bonds have not yet been issued. The RDC and Bloomington City Council still must approve the financing.