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HomeMy WebLinkAboutFY27 - Urban Renewal Action Plan - Pole YardPOLE YARD URBAN RENEWAL DISTRICT FY2026 ANNUAL REPORT and FY 2027 WORK PLAN AND BUDGET FY 2028 WORK PLAN AND BUDGET The Purpose and Intent of the Pole Yard Urban Renewal District and Plan The creation of the URD in the Pole Yard enables the City of Bozeman to eliminate conditions that contribute to blight substantially impairing sound growth of the City through investments in public infrastructure and efficient delivery of public services. Goals of the Pole Yard Urban Renewal District Plan GOAL 1. Promote Innovative Economic Development Rationale: Commerce strengthens the community, opens reinvestment opportunities, enables livable wage jobs, and supports the sound growth of the community, helping to eliminate conditions that contribute to blight. GOAL 2. Enable Enhanced Connectivity and Mobility Rationale: Connecting neighborhoods through investments in multi-model transportation corridors strengthens the fiber of the community. GOAL 3. Invest in Efficient Delivery of Public Infrastructure Rationale: Infrastructure is the backbone of the community. Private development typically requires a corresponding public investment in infrastructure. Capital improvements will help achieve economic vitality and support the delivery of public services. GOAL 4. Foster Urban Neighborhood Coherency Rationale: Higher concentration of development achieves greater efficiency in the delivery of public services. Urban growth, oriented to centers of employment and activity, can reduce or eliminate commute times, lower transportation costs and create vitality and a sense of community. Integrated elements of growth, ensuring a cohesive neighborhood that in turn contributes to the well-being of the entire community, will reduce geographic, as well as economic and social isolation. GOAL 5. Protect Public Health Rationale: An area that includes a superfund site presents the need for increased diligence to comply with the obligation to not exacerbate the human health contact risk or environmental contamination. GOAL 6. Encourage the Retention of Existing Businesses Rationale: Urban infill development can affect the community through such things as additional traffic and noise, particularly when the existing public systems do not meet current standards. GOAL 7. Respect Critical Environments Rationale: Riparian and wetland areas provide benefits to the community through such things as filtering urban runoff, providing habitat for wildlife and flood protection. Pole Yard Urban Renewal District (PYURD) FY2026 Annual Report (July 1, 2025 to June 30, 2026) Highlights of investments are documented below. The only expenditure in FY26 were payroll costs of $6,400. Pole Yard Urban Renewal District (PYURD) FY2027 Work Plan (July 1, 2026 to June 30, 2027) Personnel $34,800 This includes salaries and benefits for support staff Contracted Services $150,000 The district requests a budget for contracted services to be responsive to opportunities related to the design or evaluation of public infrastructure projects and development agreements. Other/General $2,650,200 We propose allocating the entirety of the expected increment to be responsive to opportunities. It is likely that in FY 26 we will either support developer or city led Infrastructure projects and development agreements. These funds could also be devoted to the design or construction of public infrastructure that serves the District. Specifically, the vast majority of these funds could be allocated to the construction of quiet zone improvements at the Rouse Ave. crossing in the event the project moves forward within the Fiscal Year. Pole Yard Urban Renewal District (PYURD) FY2028 Work Plan (July 1, 2027 to June 30, 2028) Personnel $36,700 This includes salaries and benefits for support staff Contracted Services $150,000 The district requests a budget for contracted services to be responsive to opportunities related to the design or evaluation of public infrastructure projects and development agreements. Other/General $572,900 We propose allocating the entirety of the expected increment to be responsive to opportunities. It is likely that in FY 26 we will either support developer or city led Infrastructure projects and development agreements. These funds could also be devoted to the design or construction of public infrastructure that serves the District.