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HomeMy WebLinkAboutJuly 11 notes Page 1 of 5 Unapproved minutes from July 11, 2019 board meeting held at the City Hall, Madison Room TO DO List: Everyone attend August 1 board meeting In attendance: Andrew Cetraro, Susan Fraser, Scott Hedglin, David Fine, Nolan Campbell, Valerie Wyman, Carl Solvie, Kevin Cook, Terry Cunningham A. Call to Order – Andrew called to order at 4:30pm. B. Changes to Agenda – Scott wanted to ask about moving September meeting during the FYI section. C. Public Comment – none. D. Approve Minutes Nolan motioned acceptance of May 2019 minutes as presented. Scott seconded the motion. All in favor. F.1. Action Item – Updates to Midtown TIF Assistance Program App Sanderson-Stewart’s Lauren joined the table as most edits reflect her experienced suggestions. David gave overview, including addition of credit for single-family housing (see Attachment A for sections with suggested edits). Scott asked if application could be part of concept review. David responded noting $5500 to process each of this applications as $5K for the return on investment report. Discussion. Lauren suggested not adding this application to an already convoluted process, but suggested a sandwich approach before site plan review stage. Discussion continued. David went through each suggested edit. Some language tweaks discussed, including affordable housing addition. Staff will make edits as suggested and will bring back to board for approval at August 1 meeting. FYI Scott asked to move the September meeting to the second week, making it Thursday, September 12. David will make the date change. David gave an update from Kevin with Morrison Maierle. Kevin says he will hand over the full design for the Mendenhall to Beall project by August 1 so can get MDT final approval and out to bid during the winter months. Adjournment Andrew adjourned the meeting at 5:30pm. Page 2 of 5 Attachment A Page 4 of program description, application process, 2nd paragraph: Prior to submitting the grant application, the Applicant must have obtained and provide to the Board written comments on the proposed development from the Conceptual Review Application through the Community Development Department. The Conceptual Review must provide adequate detail to receive comments from the Engineering Division on required utility connections and off-site infrastructure. Page 5 of application, project narrative:  Proposed use(s) of project o e.g. industrial, commercial, retail, office, mixed use, residential for sale or for rental, etc. o Total number and individual square footage of residential units; type of residential units (e.g. for-sale, rental, condominium, single-family, etc.); number and type of parking spaces provided; and construction phasing.  Project Timeline o Include anticipated dates for site acquisition, project start and completion, as well as other project milestones. Multi-phase projects must include details for each phase. The timeline should also identify any critical or time-sensitive dates as well as any time constraints facing the applicant.  Construction information o size of any existing structure to be demolished or rehabbed; size of any new construction; types of construction materials (structural and finish); delineation of square foot allocation by use  Public Benefits o Describe the public benefits that can be realized by the completion of this project. Projects with a high degree of public benefits are typically more likely to receive TIF assistance. This statement should include qualitative examples of public benefits as well as quantifiable and measurable outcomes of the short-term and long-term benefits to the District. Examples of public benefits include, but are not limited to the following:  Elimination of blight  Creation of urban density mixed use project that includes new housing options  Increased tax revenue  Job-training opportunities Page 7 of application, site maps and building plans: The Applicant must submit a completed Conceptual Review Application and City responses to the Board. The Conceptual Review application must include, at minimum:  Photographs of project site and/or building  Map showing the location of the site and its immediate surroundings Page 3 of 5  Proposed development plans including site plans, floor plans indicating square footage and layout, building elevations  Description of parking accommodations for residential units and commercial uses  Estimated date of occupancy  Anticipated off-site infrastructure improvements  Copy of Concept Review comments Page 8 of application, criteria matrix: In reviewing the TIF assistance application the Board will evaluate each project utilizing the following criteria and point system. Points can range from 0 to the maximum shown below in each category. Please rate your project according to the following criteria. To receive points for any given item, provide a detailed narrative response to each criterion and include documentation demonstrating adherence to the criteria must be submitted with the application. The Board will use this information to evaluate the project. Midtown District Goals Points Promote Economic Development 1. Tax Generation: The project will increase the taxable value within the District. The increase in taxable value due to new construction & rehabilitation is estimated by the County Assessor’s office or State Department of Revenue to determine tax increment generation. Submit documentation of estimated tax projections to receive points for this criteria /4 2. Elimination of Blight – The project’s direct and indirect impact on the physical and fiscal deterioration within the Tax Increment Financing District and the community. Projects that redevelop underutilized properties will be given priority. Submit information showing current conditions of property. /4 3. Employment Generation – Total employment generated by the project assessed in terms of new permanent and part-time jobs, and construction jobs. Submit documentation of estimated new jobs to receive points for this criterion. /3 Improve Multi-Modal Transportation 4. Reduces Resource Demand: Project promotes the use of transit, ride sharing, or car sharing. Provide plans, agreements or other methods to demonstrate reduction of resource demand. /1 5. Promotes Active Transportation: Project promotes bicycling as an active transportation option by constructing or improving bike lanes, providing covered bike parking, and/or participating in a bike share program. Provide plans, agreements or other methods that demonstrates the project goes beyond the minimum Bozeman UDC requirements for site development. /2 Improve, Maintain and Support Innovation in Infrastructure 6. Infrastructure Improvements: Project promotes innovation in infrastructure and/or reduces long term costs of maintenance. Examples include low impact /2 Page 4 of 5 development for stormwater or car charging stations. Does the project enable better connectivity or provide critical infrastructure for the community? Provide plans and descriptions of innovations proposed. Promote Unified Human Scale Urban Design 7. The project reduces the number of vehicular access points to the property and improves the pedestrian experience. Provide plans, agreements or other methods to demonstrate reduction. /2 8. The project enhances the North 7th Ave. entryway corridor by having buildings oriented toward the street and designed to provide interest and activity. /2 9. The project enhances the pedestrian experience by using a storefront block frontage (BMC 38.510) as a component of the project. Key elements of the frontage would include façade transparency, building articulation, street furniture and/or landscaping. Submit plans and details that address this criterion. /2 10. The quality of development and overall aesthetics (architectural, site design, landscaping, etc.) are beyond that which is minimally required by the UDC. Provide a narrative and submit documentation to demonstrate compliance with this criterion. /1 Support Compatible Urban Density Mixed Land Uses 11. The project increases housing units within the District. Submit plans demonstrating an increase in the number of housing units. /6 12. The project is a mix of residential and commercial. Commercial uses include retail, restaurant, office and services. Hotels would not be supported unless included with a project that included residential development. Submit plans detailing the proposed mix of uses within the project. /6 13. The project shares parking among compatible uses. Provide details demonstrating compliance with the UDC and as well as total number of parking spaces reduced because of a shared arrangement. /2 14. The project provides affordable dwelling units. For the purposes of this criterion, an affordable dwelling unit is defined as a unit that requires no more than 33 percent of a household’s income for housing payments based on a designated percentage of area median income (AMI). Eligible rental units shall be affordable at 70% AMI and eligible for sale units shall be affordable at 90% AMI. Condominium units are eligible as for sale units. Eligible rental dwellings to be constructed in the proposed residential development shall be provided by long-term contractual obligation to an affordable housing agency, for a period of not less than 20 years, with a written plan assuring ongoing affordability pricing and eligibility monitoring, and annual re-certification. The city's affordability guidelines and subsequent revisions establish affordability and eligibility. To receive 3 points under this criterion, 10% of all units must meet the affordability criteria. To receive 6 points under this criterion, 20% of all units must meet the affordability criteria. /3 or 6 Page 5 of 5 Overall District Relevance 15. Relevance to the Midtown Urban Renewal Plan – Documentation of the project’s impact in relation to the goals and objectives of the Midtown Urban Renewal Plan, particularly mixed-use development. Urban design elements will also be considered, including pedestrian emphasis and quality of design. /5 16 The investment of public funds in the project results in a leverage ratio of at least 10:1 for multifamily, 8:1 for commercial, or 5:1 for family wage jobs. /4 Total Points /52 Page 11 of application, for projects requesting over $50K: Project Financial Information In order for the Midtown Urban Renewal District Board to adequately review applications seeking TIF assistance, the following information must be submitted with the application. This information will be used to perform a third-party financial analysis to determine the project’s anticipated return on investment (ROI) and reasonableness of developer profit. The goal of the Midtown TIF Assistance program is to make projects financially feasible. Therefore, projects that demonstrate financial need for public funding will be given priority.