What a $135M Jail Bond Means for Monroe County — And Why It Matters to You
The Monroe County Council took a significant step forward on Tuesday, 04/28/2026, toward financing the jail building. While there was great coverage from the BSquare Bulletin, I felt it was important to walk the public through how this report got to a project cost of $135 million, because you probably didn’t take the time to watch the Community Access Television Service recording of this presentation, which ran over 40 minutes with Q&A. This fiscal report, covered in the media, represents a clear pathway forward.
A viable fiscal pathway forward is important because it demonstrates that bonding for a jail is feasible, provided facility costs do not exceed $135 million. This changes the tone of the conversation. When the County Council unanimously rejected the North Park purchase agreement in October 2025, the most convincing argument, and one that I made, was that the Indiana Republicans who passed Senate Enrolled Act 1 prevented us from moving forward. Now Monroe County has a fiscal path forward to $135 million.
The math is quite simple, yet the numbers are staggering. You can see the associated documentation here on pages 9-12. If you are a visual learner like me, the amortization table is invaluable, as it shows in neat columns the schedule of principal and bond payments.
The income that allows for debt payment would be made from two forms of revenue.
Economic Development Local Income Tax (EDIT) is a revenue stream allocated to economic development in Monroe County.
Jail Local Income Tax is a revenue stream specifically designated for jail-related costs.
The bond principal is $135 million.
Debt service payment on the bond will be due twice a year in February and August for 20 years. Should County leadership move forward promptly this summer, the first payment of $3,375,000 would be made this August.
The total debt service cost for this project would be $223,184,875. This reflects 20 years’ worth of payments on top of the $135 million principal.
A Building Corporation will be formed to oversee many of the construction details. A similar situation exists with the Monroe County Capital Improvement Board (CIB), which oversees the construction details of the Convention Center expansion.
This fiscal pathway was a collaborative effort. Financial Solutions Group (FSG) worked with the Monroe County Auditor’s office, the Monroe County Council’s office, and me, the current President of the Long Term Finance committee. FSG is an independent financial advisory firm based in Indiana.
While it was not the time to take action on Tuesday, this report should give you hope that the current leadership is ready to move forward.
Pay attention to twin tracks as Monroe County government looks to secure a future location:
The Monroe County Board of Commissioners will bring up the North Park location at a future meeting.
The Bloomington Plan Commission would consider other potential locations within the City of Bloomington.
As always, please stay in touch by visiting www.peteriversen.org. I am the President Pro Tempore of the Monroe County Council. My district includes the eastern third of this county, including parts of Indiana University, three major lakes, forests, a wilderness, and homes such as yours.
