On the agenda for the meeting will be the reading of three ordinances. The first two are related to utility bonds.
The last has to do with a tax delay for Big O Properties, which owns property on South Walnut Street across from Chocolate Moose.
The delay or abatement was tabled at the last city council meeting, which took place Jan. 14. Big O Properties asked the city council to delay the ordinance given a change in the plans for its proposed three-story ?building.
When Big O Properties was purchased, the property taxes for its 338 S. Walnut location were $4,000, but because of the rebuilding of the property to a three-story complex, the property taxes have risen to $40,875.
In addition, the ordinance will have Big O Properties’ building on 338 S. Walnut designated as an Economic Revitalization Area.
In an interview after the Jan. 14 Bloomington City Council meeting, newly- elected City Council President Dave Rollo said the plan could benefit Bloomington as the value of the property is set to go up, meaning the taxes Big O pays are likely to go up, as well.
Last week, the city council had a joint internal work session with the city plan commission, but it is now returning to its regular schedule. There are no votes planned for Wednesday night’s meeting, which will feature the two utility bond ordinances for first reading followed by public comment.
Last on the agenda is a motion that would refer ordinance 15-01, the special tax designation for Big O ?Properties, to committee.
The first two ordinances that are scheduled for first reading are to amend the city’s sewage and waterworks ordinances from March 2006. Both ordinances will require a second reading but will not be debated and will require a simple majority in order to be passed.
Neal Earley
