The commission approved a resolution to accept a grant from the Minnesota Department of Employment and Economic Development, aimed at supporting the Youth at Work initiative. The grant is designed to aid organizations that create career pathways through internships. A representative from the Bloomington internship program outlined that the grant would cover administrative costs, youth wages, and critical support services such as transportation, which is often a barrier for interns. This resolution was passed with unanimous approval.

Another development during the meeting was the announcement of Twila Dang as the winner of the Hatch Bloomington pitch competition. Her business proposal, Book Mother, a retail bookstore, is expected to contribute positively to the local economy. The competition, aimed at spurring economic development and supporting entrepreneurs, brought notable media attention to Bloomington. A motion to provide financial assistance to the competition winner passed unanimously.

The commission also tackled property easements related to the city campus construction. With the project nearing completion, two specific easements were approved: one for emergency and delivery access between two lots, and another for storm sewer maintenance. These easements are important for operational needs and have been part of the planning documents from the outset.

Budget discussions for the 2026 fiscal year were a focal point of the meeting. The commission presented a proposed levy request of $2.9 million, which is below the maximum allowable amount. The anticipated total budgeted revenue for 2026 is $3,470,000, with expenses projected at $3,118,488, resulting in a net difference of $351,000 intended for building reserves for future strategic acquisitions. The commission emphasized transparency and adaptability in budgeting.

The South Loop Special Revenue Fund was examined, highlighting its focus on real estate redevelopment activities rather than business development or job creation. This distinction prompted discussions about the potential use of the fund beyond physical infrastructure. The commission reviewed budget allocations, noting that about 40% was dedicated to development and redevelopment assistance, with 33% directed towards small business and entrepreneurship initiatives.

The meeting also addressed salary increases, projected to rise by $229,000 due to the addition of new positions and reallocations of staff time across various activities. The staff headcount is expected to increase by one, highlighting the authority’s expanded role in citywide activities. Concerns were raised about the significant increase in the salary budget, prompting a discussion on the realism of projected time allocations and the importance of understanding these in the context of fund accounting.

In further budget deliberations, the South Loop Fund’s transfer request was reduced by $334,000 from the previous year, linked to the reallocation of staff time and resources. The authority is streamlining operations to better reflect actual expenditures, with specific allocations for small business and entrepreneurship strategic investments, including $100,000 for general programming and $570,000 for direct business assistance through various grant and loan programs.