Cook Group has struck a deal with the city of Bloomington to avoid annexation of its properties in Monroe County.
The Bloomington City Council voted Wednesday to approve the agreement. Cook group will pay the city $100,000 a year for 15 years.
Council member Chris Sturbaum voted in favor of the agreement.
“This is a sensible solution to give predictability for the business and for the future and I am certainly fully supporting this.”
Under the deal, Cook’s yearly payment could go up if it doesn’t meet goals for investment and employment in Monroe County. The city had a similar agreements in lieu of annexation with Cook dating as far back as 1979, with its most recent expiring in 2012.
The vote comes on the heels of a judge denying a request to dismiss a case the city filed against the state of Indiana over a law that prevented an annexation attempt earlier this year.
Cook Group actively lobbied to prevent the annexation.
The city will receive its first payment in 2018.