A lot of communities go after "corporate giving" for various community-based projects they can't or don't want to spend taxpayer money for (it's usually the latter), and the bigger corporations have programs to do exactly that. It's the responsible thing for a "corporate citizen" to do, now that the Supreme Court says they're people, too. Anyway, the article says these are a passive enforcement tool, and they are not actively monitored for ready enforcement, like they do in the U.K., where these things are everywhere.
Wait until the divorce and accident/DWI lawyers start subpeonaing the archives. Either they'll make tons of money off charging for the reproduction services, or they'll spread their staffing so thin they'll wish they weren't there. Probably both.
One thing that's usually a factor in these initiatives - the recurring cost of maintenance. For many communities (and I have no knowledge of Bloomington) they'll work until they break and then the powers that be figure out it will cost un-budgeted money to fix. Hopefully they've budgeted to maintain them. For the second part of the grant, many other places use GIS as a predictive analysis tool to identify trends and allocate their resources. Sometimes statistical analysis presented in a graphic manner helps overall situational awareness. That's not a bad thing.
I see no direct practical use for State Farm in getting this kind of data. Maybe if it were connected to ALPRS or some form of facial recognition, but that's way, way above $142K.
I'd rather see community policing by putting more beat cops out on the street, but that might be too proactive.