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To Approve an Agreement Between the City of Bloomington and IU Health for the Purchase of the Current Bloomington Hospital Site and Surrounding Outlots - Re: Parcels Located in and around the 400-800 Block of West 1st and West 2nd Street, Bloomington, Indiana

This Resolution auhtorizes execution of the Purchase Agreement between the City of Bloomington's Redevelopment Commission, the City of Bloomington, and IU Health for purchase of the current site of the IU Health Bloomington Hospital and the adjacent outlots in and around 2nd Street and Rogers Street. The City agrees to purchase the Property for $6.5 million in three payments and agrees to take possession of the Property after IU Health has vacated and conducted the agreed upon environmental remediation at the main hospital site so that the Property will be ready for future development.

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