OnBoard
BIDAC (Bloomington Industrial Development Advisory Commission)
(9 Vacancies)Information
- Type
- seated
- Year Formed
- 1997
- End Date
- 3/31/2023
- Statutory Name
- BIDAC (Bloomington Industrial Development Advisory Commission)
- Legislative
- No
- alternates
- No
Description
Description
PURPOSE:
The Bloomington Industrial Development Advisory Commission (BIDAC) is an advisory body that oversees the City of Bloomington's two CRED districts. The Downtown CRED and Thomson CRED Districts allow the City to capture increased sales and income tax dollars generated by new investment downtown, to use the funds for economic development purposes.
ELIGIBILITY REQUIREMENTS:
The commission shall be composed of six members, including at least one representative of the city's government, at least one representative of the local industrial development committee, at least one representative of a local banking institution, at least one representative of a local utility company, and at least one representative of organized labor from the building trades. A member of the commission may represent more than one of the organizations enumerated. The mayor shall appoint all members. The members serve at the pleasure of the mayor.
DUTIES:
The BIDAC provides guidance to the City Council for the use of Industrial Development Funds. One of the major roles of the commission is to lead the community effort to revitalize the former Thomson Plant and Downtown Bloomington.
TIME COMMITMENT:
This commission meets only as needed.
COMPENSATION:
Each member does not receive compensation for their service.
Meeting Schedule
This commission only meets as needed.
