HomeMy WebLinkAboutLetter to COB re Impact Fee CreditsMay 9, 2019
East Main Investments, LLC
1276 North 15th, Suite 104
Bozeman MT 59715
Shawn Kohtz
City Engineer
20 E. Olive St. 1st Floor
Bozeman, MT 59715
RE: Blackmore Bend - East Main Street and Highland Boulevard Intersection Upgrades
Dear Shawn,
I hope this letter finds you well. I am writing to you in request for a revision to the existing Impact Fee
Agreement East Main Investments, LLC has with the City of Bozeman as it relates to the city’s level of
participation. As you will recall, at the time this agreement was negotiated and signed the total project
costs were estimated to be $241,781 against which the city was in position to contribute $120,000.
Currently the improvements to include engineering are projected to cost $1,099,259, from which the
costs directly related to Blackmore Bend have been deducted. You are aware of the circumstances that
contributed to the increase in project such as the increase in scope resulting from MDT’s requirement
that the improvements extend onto the properties on the north side of East Main Street. Our request is
that the city’s total participation be increased from $120,000 to $750,000.
We have evaluated the various options through which the city could increase its financial participation to
include direct payment from the Capital Improvements Funds, the creation of a payback district or the
issuance of impact fee credits. It is our request that the city continue with its current $120,000 Capital
Improvements Fund contribution and issue impact fee credits in the sum of $630,000. Should the city
prefer to consider funding the entire request of $750,000 through the use of impact fee credits, I
anticipate we would be agreeable to that as well.
Please do not hesitate to contact me with any questions or comments. You can contact me at (406) 579-
2316 or via email at dcape@jwtcompanies.com. As always, I am appreciative of your help in processing
this request and the other assistance you have provided in working through the broader Blackmore Bend
project.
Sincerely,
Don Cape, Jr.
Manager