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Update: Bond Approved For Switchyard Park In Bloomington

By Indiana Public Media News Staff

Posted May 21, 2015

The Bloomington City Council Wednesday evening approved a $48 million bond, the largest in the city's history, that will be used to fund a new 60-acre park south of the B-Line trail.

The bonds are made possible through the city's new consolidated special taxing district, known as a TIF district, which significantly expanded the city's TIF'ed area. More area means more tax money for the TIF districts, and more money for big projects, such as Bloomington's planned Switchyard Park.

Mayor Mark Kruzan compares the planned park's effect to that of the B-Line project.

"This is obviously a recreational amenity but this is also primarily an economic vitality project and it was important for us to invest in it," Kruzan says.

While the bond's size raised some eyebrows at Wednesday's meeting, city officials said issuing the bond all at once would ultimately save money and allow better planning for long-term projects, and the resolution passed unanimously.

Kruzan said before the approval that the city is "ready to go" on building the new park.

"We'll start to reach out with contractors again to get the blue prints in place for the Switchyard Park, it will help us with negotiations with developers and the certified tech park," Kruzan says. "We're ready to go with signalization and bike-ped ways."

The bond will also pay for projects including affordable housing, expansion of the animal shelter, solar panels on city buildings and road improvements.

According to the Parks Department, construction on the park could start as early as 2016.

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