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Home My WebLink About04-06-23 - Midtown Urban Renewal District Board - Agendas & Packet MaterialsA.Call meeting to order at 4:30 This meeting will be held both in-person and also using an online videoconferencing system. You can join this meeting: Via Video Conference: Click the Register link, enter the required information, and click submit. Click Join Now to enter the meeting. Via Phone: This is for listening only if you cannot watch the stream, channel 190, or attend in- person United States Toll +1-650-479-3208 Access code: 2564 871 8996 B.Disclosures C.Changes to the Agenda D.Public Service Announcements E.Approval of Minutes E.1 Approval of Minutes(DiTommaso) F.Consent G.Public Comment Please state your name and address in an audible tone of voice for the record. This is the time for individuals to comment on matters falling within the purview of the Committee. There will also be an opportunity in conjunction with each action item for comments pertaining to that item. Please limit your comments to three minutes. H.Special Presentation I.Action Items I.1 Midtown Urban Renewal District Work Plan and Budget for Fiscal Year 2024 (Fine) J.FYI/Discussion THE MIDTOWN URBAN RENEWAL BOARD OF BOZEMAN, MONTANA MURB AGENDA Thursday, April 6, 2023 1 K.Adjournment For more information please contact This board generally meets the xx xxxday of the month from xx:xx to xx:xx Committee meetings are open to all members of the public. If you have a disability and require assistance, please contact our ADA coordinator, Mike Gray at 582-3232 (TDD 582-2301). In order for this Board to receive all relevant public comment in time for this meeting, please submit via the Commission Comment Page or by emailing agenda@bozeman.net no later than 12:00 PM on the day of the meeting. Public comment may be made in person at the meeting as well. 2 Memorandum REPORT TO:Midtown Urban Renewal Board FROM:Susan Fraser, board member Jesse DiTommaso, economic development specialist David Fine, economic development program manager SUBJECT:Approval of Minutes MEETING DATE:April 6, 2023 AGENDA ITEM TYPE:Minutes RECOMMENDATION:I move to approve the March 2, 2023 Midtown Urban Renewal Meeting minutes. STRATEGIC PLAN:1.2 Community Engagement: Broaden and deepen engagement of the community in city government, innovating methods for inviting input from the community and stakeholders. BACKGROUND:In accordance with Commission Resolution 5323 and the City of Bozeman's Citizen Advisory Board Manual, all boards must have minutes taken and approved. Prepared minutes will be provided for approval by the board at the next regularly scheduled meeting. Staff will make any corrections identified to the minutes before submitting to the City Clerk's Office. UNRESOLVED ISSUES:Non ALTERNATIVES:As recommended by the Board. FISCAL EFFECTS:None. Attachments: Mar 2 notes.pdf Report compiled on: March 15, 2023 3 Page 1 of 3 Unapproved minutes from March 2, 2023 board meeting City Hall’s commission room TO DO List: Everyone attend April 6 board meeting In attendance: Alicia Ruiz, Nolan Campbell, Susan Fraser, Emily Talago, David Fine A. Call to Order – Nolan called the meeting to order at 4:35pm. B. Disclosers – none. C. Changes to agenda – none. D. Public Service Announcements – none. E. Minutes for September/August/April/February 2022 meetings Nolan motioned approval. Emily requested correction to August minutes to reflect herself as the dissenting vote on the Holiday Inn item. Emily then made the motion to approval these four sets of minutes as amended; Alicia seconded. All in favor. F. Public Comment Two community members in the audience, Katie Dolan (sp) and child, residing on Boylan Road and owner of kids’ school at The Cannery. Attending as interested in what the board is doing and the assistance opportunities. David offered chat with Katie after the meeting about how to apply. G. Action Item – FY24 work plan and budget David presented working document (see Attachment A) for board’s initial feedback with plans to make edits and bring back to the April board meeting for final adoption. Discussion. The ‘workforce housing project’ line item is connected to the 9TEN project and the board should hear the proposal at the April meeting. Discussion continued. David will make edits and bring back for board’s approval at the April meeting. H. FYI/Discussion Nolan asked about bond status. David explained MURB pays 25yr obligation. Nolan asked David to bring potential needs for more bonding to upcoming meetings. David shared about the apartment project on N. 3rd, 214 units. Emily noted she thought her term on the board had expired. David explained that due to the pending merging of MURB into the new community board, scheduled for mid-summer, it was OK for Emily to continue serving as-is. I. Adjournment Nolan adjourned meeting at 5:51pm. 4 Page 2 of 3 Attachment A 5 Page 3 of 3 6 Memorandum REPORT TO:Midtown Urban Renewal Board FROM:Jesse DiTommaso, Economic Development Specialist David Fine, Economic Development Manager SUBJECT:Midtown Urban Renewal District Work Plan and Budget for Fiscal Year 2024 MEETING DATE:April 6, 2023 AGENDA ITEM TYPE:Citizen Advisory Board/Commission RECOMMENDATION:Approve the FY24 Midtown Urban Renewal Budget. STRATEGIC PLAN:2.2 Infrastructure Investments: Strategically invest in infrastructure as a mechanism to encourage economic development. BACKGROUND:Economic Development staff compiled a budget for approval from the Board. The budget is a reflection of updated costs for FY24 as well as items discussed at the March Midtown Urban Renewal Board meeting. UNRESOLVED ISSUES:Staff is refining final revenue projection, which could impact the amount available for spending. ALTERNATIVES:As suggested by the Board. FISCAL EFFECTS:Staff is proposing a $3.472 million dollar budget that expends undesignated fund balance on projects that create affordable housing and net new taxable value. Attachments: Midtown Budget FY 2024 draft 033023.pdf Report compiled on: March 28, 2023 7 Bozeman Midtown Urban Renewal Board FY 2024 Work Plan and Budget (Working Draft) 3/30/2023 Revenue and Reserves Undesignated Fund Balance Estimated FY23 Ending Balance (TBD)$2,000,000 Estimated FY24 Revenue $1,701,529 Total Cash and Reserves $3,701,529 Infrastructure Investments Westlake BMX Park Improvements $300,000 Codify Design Standards for N. 7th Avenue Streetscape $50,000 5th Ave Trail $325,000 Bond Repayment Series 2020 $410,000 Professional Services and Outside Legal Counsel Outside Legal Counsel for Bonding and Redevelopment Agreements $60,000 Contracted Professional Services $60,000 Redevelopment Incentive Programs Technical Assistance Grants 1:1 match [2 grants]$15,000 Direct Incentives - Midtown TIF Assistance Program $100,000 City Fiber Conduit Connection Incentive Program $20,000 Outreach and Marketing Outreach Engagement and Mailing $10,000 Midtown Marketing and Recruitment $10,000 District Operations Payroll $70,000 Training $12,000 General Administrative Costs $30,000 Approved Grants and Direct Incentives Workforce Housing Project $2,000,000 TOTAL EXPENDITURES $3,472,000 Year End Balance $229,529 8