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Home My WebLink AboutTIF Minutes 5-17 Downtown Tax Increment Finance Board Meeting Minutes May 16, 2017 Attending: Bob Hietala, Vonda Laird, Cory Lawrence, Bobby Bear, Bill Stoddart, Chris Naumann Absent: None Public Comments: None Minutes ACTION: Vonda Laird moved to approve the April minutes with amended language in ‘Car Share Partnership Concept’ section and otherwise as presented. Bob Hietala seconded the motion. All voted in favor. Financial Report The May finance report included year-to-date income as unchanged from April and Chris reminded the board that he will not receive final income figures from the City until August. Expenses over the following month included: Downtown Fiber infrastructure Phase 2 construction cost of $116,889; Downtown Parking Data Collection contribution to Parking Division of $20,000; Streetscape engineering and design work for $3,700; $2500 for Soroptomist landscape work; and $990 for streetlamp maintenance. The board noted that the ‘DURT Phase 1 Prelim Engineering’ line item was about 10% over budget and asked if that posed any accounting or regulatory issues. Chris said he would consult with Assistant City Manager Anna Rosenberry. The board had no other questions regarding the finance report. Executive Director’s Report Technical Assistance Program Update—NO CHANGES Three grants have been awarded thus far for FY2017—shown at the bottom of the chart. The chart also lists uncompleted grants that were awarded in FY2016. 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. TIF Legislative Audit Update Session is over! The group of URD professionals that coordinated on legislative lobbying this year have committed to meet quarterly in preparation for the interim study bill process. The first meeting is scheduled for June 7, 2017. Building Project Updates Lark Addition (corner of Grand and Main) 4 story building with 28 new Lark hotel rooms. Construction began in December 2016 to be completed Spring 2018. 5 West Building (northwest corner of Mendenhall and Tracy) Construction began on October 2016. First floor businesses scheduled to open in July and August 2017 and the upper floors completed in August 2017. Etha Hotel (old Armory building) first phase of foundation work complete. No date for when construction will resume. Willson Residences (old East Willson School) being redeveloped into 18 residential units with underground parking. Completion scheduled for Summer 2017. Rialto Theater under construction to be completed by November 2017. Black & Olive Apartments application was denied by the City Commission on April 11th. “OSM” Building 5 story mixed use building proposed on southwest corner of Babcock and Wallace BG Mill Building 5 story mixed use building proposed on southwest corner of Mendenhall and Broadway New Businesses Update • Union Market—39 North Rouse—old Service Electric space opening date unknown • Squire House—27 East Mendenhall—Element Hotel restaurant is under construction • Stuffed Waffles—26 West Main—(former Tonsorial Parlor) to open in May • Headroom space—12 East Main—vacant but under contract • Reflections space—240 East Main—vacant • Sandwich shop—411 East Main— former Rockford space • Burger Bar—127 West Main—former Bistro space • Boho Boze—129 West Main—OPEN—former Jewelry Studio space • Evergreen—16 East Main—OPEN—former F-11 space • Montana Silversmiths—14 West Main—OPEN—former Mountain Lodge space Date Project Name Project Address Applicant Professional Type Value 8/21/2015 712 East Main 712-716 East Main BCHO Architects BCHO Architects Plan/Façade 10,500$ 12/30/2015 Big Sky Western Bank 106 East Main Big Sky Western Sanderson Stewart Façade 3,000$ Total 13,500$ Date Project Name Project Address Applicant Professional Type Value 10/31/2016 Owenhouse 2nd Floor 26 East Main Larry Bowman Yellowstone Arch Planning 7,500$ 10/31/2016 Owenhouse 2nd Floor 26 East Main Larry Bowman Yellowstone Arch Façade 3,000$ 3/30/2017 23 East Main 23 East Main Mark Kehke Intrinsik Planning 7,500$ Total 18,000$ FY17 Budget 50,000$ remaining 32,000$ Technical Assistance Program FY2017 Report Planning Updates In this section I will provide update about several ongoing City planning processes. Transportation Master Plan www.bozemantmp.com Consultants: Peccia & Associates (Helena), Alta Planning (Bozeman) Timeline: September 2015 (kickoff) Update: Final draft released 4/25/17. CC approved May 1, 2017. UDC Revisions http://bozeman.net/Projects/UDCCodeupdate/Home Consultants: Makers (Seattle), Leland Group (Portland), Studio Cascade (Spokane) Update: Draft was presented to CC on May 8, 2017 then public meetings through June 8th. Final Draft to CC July 10th. and comment period in Summer 2017 City Vision & Strategic Plan Consultants: HDR Timeline: March 2016 (kickoff) Update: draft plan to be considered for adoption by CC on May 15th 2017 Community Plan (City Growth Policy) Update Consultants: City release RFP for consultants January 2017 Timeline: October 2017 through late 2018 Discussion and Decision Items FY2018 Draft Budget Chris presented the revised draft budget for fiscal year 2018 (included below). Highlights include: incomes similar to FY17; 5% increase in Partnership Management Fee; $115,000 for Phase 3 of the fiber network installation; $250,000 for parking infrastructure improvements; $100,000 for completion of streetscape design and formation of SLID. The only changes from the original draft discussed in April include: reducing the Car Share and EV funding from $35,000 down to $17,000; and the addition of $15,000 for the construction of the North Black Pocket Park. Chris explained that the North Black Pocket Park is a new project to make the southwest corner of the North Black (aka Carnigie) public parking lot into an attractive pedestrian friendly amenity. He said the URD funding will be matched with Cash-In-Lieu parkland money from the City Parks Department. Sanderson Stewart is producing some preliminary design concepts. ACTION: Bob Hietala moved to approve the Fiscal Year 2018 Budget as presented. Cory Lawrence seconded the motion. All voted in favor. FY2017 FY2017 FY2018 Category BUDGET Year End DRAFT Income Starting Cash Balance 1,479,289$ 1,657,529 1,489,990 Income from TIF (estimated)430,000$ 430,000 430,000 COB Interlocal Share 472,500$ 472,500 500,000 Entitlement Share State of Montana 45,436$ 45,436 45,000 Interest Income (estimated)10,000$ 10,000 10,000 Other Income (Library benches)3,000$ - - Total Income 2,440,225$ 2,615,465 2,474,990 Expense OperationsManagement Fee and Admin.105,000$ 105,000 110,000 Total Operations 105,000$ 105,000 110,000 Infrastructure Improvements Street Furniture and Park Maintenance 7,500$ 7,500 10,000 North Black Pocket Park Construction 15,000 Streetscape--new purchases 25,000$ 20,000 25,000 Streetscape Assistance Program 80,000$ 23,975 80,000 Wayfinding Signage--fab & install 10,000$ - 10,000 Alley Improvement Incentive Program 25,000$ - 25,000 Public Parking Improvements 250,000$ 250,000 250,000 Library Pedestrian Safety Improvements 10,000$ - 10,000 Code Compliance Program 50,000$ 10,000 50,000 Fiber-Broadband Infrastructure 150,000$ 155,000 115,000 Intersection Cable Anchor Repairs 50,000$ 30,000 10,000 Car Share Implementation 12,000 Total Improvements 657,500$ 496,475 612,000 Planning Technical Assistance Grants 50,000$ 20,000 50,000 FY16 Encumbered Funds 10,000$ - - FY17 Encumbered Funds 31,000 Residential Incentive Program 200,000$ - 200,000 Hotel Incentive Program 100,000$ - - FY16 Encumbered Funds 100,000$ - 100,000 FY17 Encumbered Funds 100,000 Downtown Improvement Plan Update 80,000$ - 100,000 DBIP Implementation Funds 20,000$ 10,000 50,000 City Wayfinding--Downtown Planning 5,000$ - 10,000 DURT Phase 1 & SLID Engineering 30,000$ 34,000 100,000 Strategic Parking Plan--Data Collection 20,000$ 20,000 - Car Share and EV Master Planning 5,000 Total Planning 615,000$ 84,000 746,000 Parking Structure Garage Bond Payment 430,000$ 430,000 430,000 Garage Long-term Maintenance Fund 10,000$ 10,000 10,000 Total Parking Garage Payments 440,000$ 440,000 440,000 Explosion Impact Fee Expenses Explosion Impact Fees 100,000$ - - Total Impact Fee Expenses 100,000$ - - Total Expenses 1,917,500$ 1,125,475 1,908,000 Year End Balance 522,725$ 1,489,990 566,990 Downtown Development Moratorium Discussion Chris informed the Board that several citizens from the Save Bozeman group asked the City Commission to place a development moratorium on downtown to prohibit any buildings taller than three stories. At this point there is nothing to do per se, but Chris asked that the board be prepared to take a publicly stated position should the request gain any traction. Meeting was adjourned at 1:10 pm