HomeMy WebLinkAboutResolution 4992 Intent to Designate Aspen Crossing as an Urban Renewal Project o Bo2�9
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RESOLUTION NO. 4992
RESOLUTION CALLING A PUBLIC HEARING ON APPROVING A PROJECT IN
THE BOZEMAN MIDTOWN URBAN RENEWAL DISTRICT AS AN URBAN
RENEWAL PROJECT AND USING TAX INCREMENT REVENUES OR TAX
INCREMENT REVENUE BONDS TO PAY, REIMBURSE OR FINANCE ELIGIBLE
COSTS OF SUCH PROJECT,KNOWN AS ASPEN CROSSING
,BE IT RESOLVED by the City Commission (the "Commission") of the City of
Bozeman(the"City"),Montana, as follows:
Section 1
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Recitals.
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1.01. Under the provisions of Montana Code Annotated, Title 7, Chapter 15, Parts 42
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and 43 (the "Act"), the City is authorized to create an urban renewal area, prepare and adopt a
redevelopment plan therefor and amendments thereto, undertake urban renewal projects therein,
provide for the segregation and collection of tax increment with respect to taxes collected in such
area, issue its bonds to pay the costs of such projects and to refund bonds previously issued under
the Act and pledge to the repayment of the bonds the tax increment and other revenues derived
from projects undertaken within the urban renewal area.
1.02. Pursuant to the Act and Ordinance No. 1685, adopted on November 27, 2006, as
amended by Ordinance No. 1925, adopted by the Commission on December 16, 2015
(collectively, the "Ordinance"), the City created the Bozeman Midtown Urban Renewal District
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Resolution 4992, Calling a Public Hearing on Approving a Project in the Midtown Urban Renewal District—Aspen Crossing
(the "District") as an urban renewal district and approved the Bozeman Midtown Urban Renewal
District Plan (the "Plan") as an urban renewal plan, which Plan contains a tax increment
financing provision in accordance with the Act.
1.03. Pursuant to the Plan, tax increment financing is to be used to further the
implementation goals in the Plan, which include encouraging investment in development and
redevelopment of commercial and mixed use property within the District in accordance with the
provisions of the Act.
1.04. In addition, the Plan created the Midtown Urban Renewal Board (the "Board") to
exercise the powers of an urban renewal agency under the Act with respect to the District and to
implement the Plan. Among other things, the Board is required to prepare an annual work
program and budget for projects in the District, which program and budget are subject to review
and approval by the Commission.
1.05. Pursuant to Resolution No. 4770, adopted by the Commission on January 23, 2017,
the City approved a program to encourage investment the development and redevelopment of
commercial and mixed use property within the District (the "Midtown TIF Assistance
Program"), and delegated authority to the Board to administer the Midtown TIF Assistance
Program.
Section 2
The Project.
Aspen Land Co., L.L.C., a Montana limited liability company (the "Developer"),
proposes to undertake the construction of Aspen Crossing (the "Project") on land located in the
District. The Developer has submitted an application through the Midtown TIF Assistance
Program, requesting tax increment assistance with respect to certain eligible costs of the Project,
including public infrastructure, public utility connections, demolition of the existing structures, and
impact fees, as well as costs related to the relocation of households displaced by the project. (the
"Eligible Costs"). On December 6, 2018, the Board granted preliminary approval to the use of
tax increment assistance to pay Eligible Costs.
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Resolution 4992, Calling a Public Hearing on Approving a Project in the Midtown Urban Renewal District—Aspen Crossing
The Project, including the Eligible Costs, is within the scope of the Plan. The Board has,
requested that the Commission approve the Project as an urban renewal project under the Act
and approve using tax increment revenues or issuing tax increment revenue bonds payable from
tax increment revenues of the District, as the bonding capacity of the District allows, to pay,
reimburse, or finance all or a portion of the Eligible Costs.
Section 3
Preliminary Findings.
3.01. The Commission hereby finds, as a preliminary matter, with respect to the Project,
including the Eligible Costs, as follows:
a. the Plan and the Project conform to the comprehensive plan or parts
thereof for the City as a whole;
b. the Plan and the Project will afford maximum opportunity, consistent with
the needs of the City as a whole, for the rehabilitation or redevelopment of the
District by private enterprise;
C. taking into account the use of tax increment revenues or the proceeds of
tax increment revenue bonds to pay or reimburse the Developer for all or a
portion of the Eligible Costs, there is expected to be a sound and adequate
financial program for the financing of the Project; and
d. the Project,' pending the finding described in Section 3.02 below,
constitutes an urban renewal project within the meaning of the Act and the Plan.
3.02. Based on information from the Developer, the Project includes removal and/or
demolition of the Sunset Mobile Home Park, which will have the effect of displacing
approximately 21 households. The Developer is working with Human Resource Development
Council of District IX, Inc., of Bozeman, Montana ("HRDC"), a local nonprofit that specializes
in housing, on developing an agreement (the "Relocation Agreement") to establish a workable
and feasible plan for relocating households that would be displaced by the Project. Under the
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Resohrtion 4992, Calling a Public Hearing on Approving a Project in the Midtown Urban Renewal District—Aspen Crossing
Relocation Agreement, HRDC will provide housing navigation services to the households being
displaced and the Developer will provide funds to be administered by the HRDC that will be
made available, subject to appropriate conditions, to assist the affected households in locating
adequate replacement housing. The Relocation Agreement is expected to be available for review
by the Commissioners prior to the date of the public hearing noted in Section 4 below. It is
expected that, if the Developer completes the Project in accordance with the terms and
conditions of a development agreement to be entered into between the Developer and the City,
the City will reimburse the Developer, from tax increment revenues or proceeds of tax increment
bonds, the dollar amount provided by the Developer to the HRDC under the Relocation
Agreement to facilitate the transition to replacement housing.
Section 4
Public Hearing.
A public hearing is hereby called and shall be held on March 25, 2019 at 6:00 p.m. in
the City Commission Room at City Hall, 121 N. Rouse Avenue, Bozeman, Montana, on the
approval of the Project as an urban renewal project under the Plan and the proposed use of tax
increment revenues or the proceeds of tax increment bonds to pay, reimburse or finance all or a
portion of the Eligible Costs.
Section 5
Notice.
Notice of the public hearing shall be published in the Bozeman Daily Chronicle on March
10, 2019 and March 17, 2019, in substantially the form attached as Exhibit A hereto (which is
incorporated by reference and made a part hereof).
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Resolution 4992, Calling a Public Hearing on Approving a Project in the Midtown Urban Renewal District—Aspen Crossing
PASSED, ADOPTED, AND APPROVED by the City Commission of the City of
Bozeman, Montana, at a regular session thereof held on the 4th day of March, 2019.
T A L. D S
Mayor
ATTEST:
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ROBIN CROUG 'ti • -ti' (• '^
City Clerk * ' � •�'.
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PR E ORM:7 � AP N0 G G LLIVA City Attorney
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Resolution 4992, Calling a Public Hearing on Approving a Project in the Midtown Urban Renewal District—Aspen Crossing
EXHIBIT A
NOTICE OF PUBLIC HEARING ON APPROVING A PROJECT IN THE BOZEMAN
MIDTOWN URBAN RENEWAL DISTRICT AS AN URBAN RENEWAL PROJECT
AND USING TAX INCREMENT REVENUES OR TAX INCREMENT REVENUE
BONDS TO PAY, REIMBURSE OR FINANCE ELIGIBLE COSTS OF SUCH
PROJECT, KNOWN AS ASPEN CROSSING
NOTICE IS HEREBY GIVEN that the City Commission (the "Commission") of the City
of Bozeman, Montana (the "City") will hold a public hearing on March 25, 2019, at 6:00 p.m. in
the City Commission Room at City Hall, 121 N. Rouse Avenue, Bozeman, Montana on the
approval of the following project in the Bozeman Midtown Urban Renewal District as an urban
renewal project under state law and the Bozeman Midtown Urban Renewal District Plan: Aspen
Crossing at Midtown (collectively, the "Project"). It is proposed that the City pay or reimburse
the developer of the Project for certain eligible costs of the Project, either from tax increment
revenues or the proceeds of tax increment revenue bonds.
Any interested persons may appear and will be heard or may file written comments with
the City Clerk prior to such hearing.
Dated this 61h day of March, 2019
Robin Crough ,�
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City Clerk
Legal Ad ���L�. �aa3 ,o ff.,
Publication Dates:
Sunday, March 10, 2019
Sunday, March 17, 2019
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Resolution 4992, Calling a Public Hearing on Approving a Project in the Midtown Urban Renewal District—Aspen Crossing
CERTIFICATE AS TO RESOLUTION AND ADOPTING VOTE
I, the undersigned, being the duly qualified and acting recording officer of the City of Bozeman,
Montana (the "City"), hereby certify that the attached resolution is a true copy of Resolution No.
4992, entitled: "RESOLUTION CALLING A PUBLIC HEARING ON APPROVING A
PROJECT IN THE BOZEMAN MIDTOWN URBAN RENEWAL DISTRICT AS AN
URBAN RENEWAL PROJECT AND USING TAX INCREMENT REVENUES OR TAX
INCREMENT REVENUE BONDS TO PAY, REIMBURSE OR FINANCE ELIGIBLE
COSTS OF SUCH PROJECT, KNOWN AS ASPEN CROSSING." (the "Resolution"), on
file in the original records of the City in my legal custody; that the Resolution was duly adopted
by the City Commission of the City at a meeting on March 4, 2019, and that the meeting was
duly held by the City Commission and was attended throughout by a quorum, pursuant to call
and notice of such meeting given as required by law; and that the Resolution has not as of the
date hereof been amended or repealed.
I further certify that, upon vote being taken on the Resolution at said meeting, the
following Commissioners voted in favor thereof: ►��j2 1,4 or "-.k I
4nApgE,<,V v a L-A(-^A SS, 'PVyy va&4 . ; C"m'%4Q Mvoted against the same: ;
abstained from voting thereon: ; or were absent:
WITNESS my hand officially this 51" day of March, 2019.
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ROBIN CROUGH
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City Clerk : U
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