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Chocolate Moose Tax Abatement Approved

By Indiana Public Media News Staff

Posted July 14, 2016

The Bloomington City Council approved a tax abatement Wednesday for the construction of a multi-use development on the current property of the Chocolate Moose. The council unanimously approved the abatement, but recommended changes to the original plan.

The Bloomington Economic Development Commission recommended the city council approve the abatement for five years.

City Council Vice President Susan Sandberg says they reduced the request to a three-year abatement.

"They wanted to begin a little more conservatively," Sandberg says. "I think after consideration, the council thought that was maybe that was the best place to start with room to grow."

The original petition came from H.M. MAC, a Bloomington-based real estate developer. The Chocolate Moose will be rebuilt as the main floor of a new four-story building, with the second through fourth floors containing 54 apartment units.

The developer plans on building another four-story building nearby for multipurpose use as well.

The downtown apartments will have a number of units offering workforce housing. A person is eligible for workforce housing by working at least 35 hours a week or making below $12.32 per hour. The rent will be about 30 percent of the potential resident's salary.

Sandberg says the council wants to see more workforce homes come about, and tax abatement is one of the tools they can use to encourage private developers to go that route.

"We definitely want to see more affordable housing, so a tax abatement is a nice way for us to signal yes, we'll give you this because what you're giving back in return for the good of the community is of value to us. So we're willing to do that," Sandberg says.

The proposal comes back to the council August 31 for final approval.

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