HomeMy WebLinkAboutTIF Minutes 6-15/
Downtown Tax Increment Finance
Board Meeting Minutes
June 16, 2015
Attending: Bobby Bear, Shannon Haish, Bob Hietala, Vonda Laird, Bob Lashaway,
Bill Stoddart, Tom Thorpe, Chris Naumann
Absent: None
Public Comments
None
Disclosures
None
Minutes
ACTION: Bi
ll Stoddart moved to approve the May minutes as presented.
Bob Hietala seconded the motion.
All voted in favor.
Financial Report
Chris presented the finance report as of June 16,
2015.
The expenses to note over the last month included: nearly $15,000 for new benches and bike racks; approximately $134,000 for the garage LED lighting project; almost $14,000 for
the fiber network design; and roughly $437,000 for garage debt service and maintenance fund.
The board asked if the LED payment was all inclusive and Chris replied that the final invoice
for about $25,000 had not been received.
The board had no other questions regarding the finance report.
Executive Director’s Report
Technical Assistance Program Update
This chart
lists grants that have been awarded thus far in FY2015. Keep in mind that the committed grant amounts are only tentative since the actual reimbursement amount will be determined as a
one to one match upon completion of the grant work. As a reminder, the Planning grants have a $7500 cap and the Façade grants are capped at $3000. Bold listings indicate completed.
FY2015
Downtown Technical Assistance Program
Project Name
Project Address
Applicant
Professional
Grant Type
101 E Mendenhall
101 E Mendenhall
Liane Johnson
Intrinsik
Planning
Ow
enhouse Bike Shop
25 South Black
Eric Bowman
Focus
Planning
Fechter Rear Façade
128-134 East Main
Michael Guglielmino
Focus
Facade
39 North Rouse
39 North Rouse
SC Group
Intrinsik
P
lanning
101 North Rouse
101 North Rouse
101 Rouse LLC
Intrinsik
Planning
22 South Grand
22 South Grand
HWW, LLS
ThinkTank
Planning
Garage LED Light Project
The
project is complete. All 188 new fixtures were installed during the first week of May. The final project costs should be less than $160,000—well below the initial estimate of $185,000.
Downtown
Streetscape Project
The initial estimate for the current scope of work is approximately $4.5 million. TD&H Engineering is utilizing their design work to date in order to provide a revised
cost estimate by the end of the month.
Building Project Updates NO CHANGES
5 West Building (northwest corner of Mendenhall and Tracy) 5-story 90,000 square foot mixed use-- one floor
of commercial use, two floors of office, and two floors of residential, with underground parking. The developer is projecting to begin construction during the 3rd quarter of 2015.
Dutton
Building (131 West Main--corner of Grand and Main) is under construction to be completed mid to late June. Several units are available for lease including 5000 square feet of office
on the second floor.
Block M Residences (on Lamme between Black & Tracy) Construction of Phase 2—8 additional units—has begun and should be completed early Fall of 2015.
Element Hotel
(at old Kenyon Noble site): Projecting to open in August 2015.
Lark Motel (formerly the Imperial Inn): Opened April 2, 2015.
Downtown Parking Update
We received 5 responses to the
Downtown Bozeman Comprehensive Parking Plan RFP. The selection committee scored and met to discuss the proposals. Yesterday, we interviewed 4 firms and made our decision. Next step will
be to finalize a scope of services and enter into a contract.
The study will produce a plan that will address the following aspects:
Analyzing current inventory, occupancy and usage
Identify
current shortages and surpluses by block
Review existing policies and practices
Estimate future parking needs
Recommend opportunities to increase efficient use of existing resources
Recommend
options and location to increase parking inventory
Present cost estimates for any new recommended parking infrastructure
Provide ten-year financial projections for expenses and revenues
Recommend
options to achieve revenues necessary to operate and expand
The final plan will be completed by January 2016.
The Parking Commission and Western Transportation Institute released the
third Downtown Parking Study. The study can be found at:
http://www.bozeman.net/Smarty/media/Parking_Media/Reports/2014-BZN-Parking-Report-FINAL.pdf
Discussion and Decision Items
Special
Presentation: Downtown Public Parking Lot Redesign Project
Danielle Scharf, Sanderson Stewart
Chris introduced Danielle as the project manager with Sanderson Stewart which was retained
by the Parking Commission to redesign the four public parking lots.
Danielle presented the various concepts for each lot highlighting the improvements to be made and resulting number
of parking space retained. Other topics discussed were: stormwater treatment options, landscaping requirements, and conversion to pay lots.
Appointment of Board Officers
The board agreed
to table this action until the August meeting.
Technical Assistance Grant Review
Chris asked the board to provide guidance about approving a technical assistance grant application.
The application was submitted by the owners of the Lark Hotel to look the design and feasibility of adding a level of structured parking above the current First Interstate Bank surface
parking lot. The application includes a Letter of Acknowledgement from FIB.
Chris said he was inclined to approve the grant application because of the need to creatively increase downtown’s
parking capacities.
The board agreed that this was an exciting application and fully supported awarding the grant.
See no new or old business; Bobby adjourned the meeting at 1:05pm