HomeMy WebLinkAboutFY27 - Urban Renewal Action Plan - South Bozeman SOUTH BOZEMAN TECHNOLOGY DISTRICT
FY2026 ANNUAL REPORT
and
FY2027 WORK PLAN AND BUDGET
FY2028 WORK PLAN AND BUDGET
New Mission and Vision for the Montana State University Innovation Campus
The Mission of the Montana State University Innovation Campus is:
• To promote economic development and support partnerships between
regional, national, and international high tech-based businesses and the
research community of Montana State, the region, and the State of Montana.
• To create a world-class research park to promote academic and industry
collaboration to advance research and scientific discoveries with Montana State
University Faculty and Students that will maximize the academic talent and
regional resources of Montana State University, the region, and the State of
Montana.
• To promote learning and collaboration in support of scientific research,
new discoveries, and inventions to further the commercialization of
Montana State University’s intellectual assets and technology transfer.
• To provide state-of-the-art facilities, programs, services, and amenities to
support the growth and success of technology-based businesses.
• To provide ‘the place'' to link academic, private, and governmental researchers
and scientists to advance new discoveries in support of the Citizens within the
State of
Montana, the nation, and the world.
The Vision of the Montana State University Innovation Campus is:
To be recognized as the 'the place' that provides a unique community to connect people
and support public private partnerships to stimulate new ideas, push forward the
advancement of research and science, and produce new discoveries and technologies
that will transform the world.
South Bozeman Technology District (SBTD)
FY2026 Annual Report (July 1, 2025 to June 30, 2026)
Highlights of investments are documented below.
The only expenses in FY26 are for personnel, $6,500, and legal fees, $5,000
South Bozeman Technology District (SBTD)
FY2027 Work Plan (July 1, 2026 to June 30, 2027)
Contracted Services $10,000
Per the development agreement with Big Sky ICINF, LLC, staff anticipates the district will
bond in FY2027 to reimburse the developer for the construction of public infrastructure related
to the Aurora R&D and Engine Works buildings. Staff is requesting budget authority to spend up
to $10,000 of existing cash-on-hand for costs related to issuing bonds related to the
Development Agreement with Big Sky ICINF, LLC including bond council and municipal bond
finance professionals.
Development Agreement with Big Sky ICINF, LLC $3,599,200
Please note that there is currently a development agreement, adopted pursuant to
Resolution 5420, with Big Sky ICINF, LLC to reimburse the developer for the construction of
public infrastructure related to the construction of two buildings within the District on the MSU
Innovation Campus. The development agreement is not a guarantee of reimbursement or
bonding for reimbursement. Road network infrastructure is complete on the Innovation
Campus. A tax generation analysis will determine if the debt coverage ratio exists to bond for
reimbursement to the developer for the improvements. Bond issuance is expected in FY27.
South Bozeman Technology District (SBTD)
FY2028 Work Plan (July 1, 2027 to June 30, 2028)
Contracted Services $82,000
Per the development agreement with Big Sky ICINF, LLC, staff anticipates the district will
bond in FY2027 to reimburse the developer for the construction of public infrastructure related
to the Aurora R&D and Engine Works buildings. Staff is requesting budget authority to spend up
to $82,000 of existing cash-on-hand for costs related to issuing bonds related to the
Development Agreement with Big Sky ICINF, LLC including bond council and municipal bond
finance professionals.
Debt Service $276,900
As part of the development agreement with Big Sky ICINF, LLC, the City will issue bonds
to reimburse the developer for public infrastructure associated with the construction of
multiple buildings on the Campus.
Approved Development Agreements
Development Agreement with Big Sky ICINF, LLC (Appropriated in FY27) $3,599,200
Please note that there is currently a development agreement, adopted pursuant to
Resolution 5420, with Big Sky ICINF, LLC to reimburse the developer for the construction of
public infrastructure related to the construction of two buildings within the District on the MSU
Innovation Campus. The development agreement is not a guarantee of reimbursement or
bonding for reimbursement. Road network infrastructure is complete on the Innovation
Campus. A tax generation analysis will determine if the debt coverage ratio exists to bond for
reimbursement to the developer for the improvements. Bond issuance is expected in FY27.