City Council Approves Bloom Extension
Rochester, MN (KROC AM News) - The Rochester City Council held what was likely its final meeting of the year Monday night and passed its 2016 budget.
It includes a property tax levy of $57.2 million, which is about $4 million or 7 percent higher than the 2015 figure.
The council also agreed to extend an exclusive negotiating period with Bloom International Realty through the end of June. The previous agreement expired Monday. The company has said it needs more time to finalize its plans for a major redevelopment project. It would be built on city-owned property located on the west side of the Zumbro River between 2nd and 4th streets.
The Council also delayed a vote on a proposed hotel project near St. Mary’s Hospital submitted by Brutger Equities. The firm is seeking DMC-related public financing for the project. The DMCC Board is expected to make a decision on the request at its next meeting. The council make bring the proposal back for action in February.
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