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HomeMy WebLinkAbout04-09 TIF Minutes Downtown Tax Increment Finance District Board Meeting Minutes 4/21/2009 Attending: Bobby Bear, Vonda Laird, Bob Lashaway, Kaaren Jacobson, Chris Naumann Absent: Peter Bertelsen, Thail Davis Guest: Bill Stoddard Minutes Minute review and approval for January, February, and March postponed until May’s board meeting due to lack of quorum. Public Comments None Financial Report Chris presented the financial report noting very little activity. Chris reported that the only two th expenditures since the March report included: 4 quarter Management Fee payment of $17875 and final payment for removal, strip, powdercoat, replacement of bike racks of $1960. Executive Director’s Report Tax Increment Finance District Board st April 21 2009 Downtown Improvement Plan th The LMN Consulting Team spent the week of April 13 in Bozeman working on the Downtown Improvement Plan. They held a series of stakeholders meeting which consisted of interviewing 40 individuals representing the following groups: Non-Downtown (MSU, Deaconess, Tech), Property Owners, Business Owners, Arts and Culture, Downtown Neighborhoods, th Architectural Professionals, Financial Professionals, and City Officials. On April 14, approximately 40 people attended a Public Forum regarding downtown and the Plan. From all of the input gathered, incorporated with extensive background research, the Team formulated some initial concepts and major themes to develop further: ? Identify Downtown sub-areas based on their unique existing conditions and future needs for preservation and/or improvement. ? Improve Bozeman Creek as the centerpiece of downtown open/green space system that will include pocket parks and alley enhancements. ? Promote residential infill and development primarily north of Main Street along the Mendenhall corridor. A significant increase in residential density will support the commercial core and drive further economic development. ? Recommend specific zoning and code modifications to that provide incentives for a variety of economic development. Modifications would include parking requirements and parkland provisions. ? Transform Babcock and Mendenhall into walkable, liveable, complete streets. The Team made a preliminary presentation at the Downtown Annual Breakfast to an audience of about 80 downtown community members. The Team will complete a draft of the Plan by early June, at which time they will return to Bozeman to review with stakeholders and City officials. The draft will then be release for public review and comments. A final version of the Plan will be presented to the City Commission for adoption in July of 2009. Parking Garage Update th The Downtown Parking Garage opened on Monday, April 13. Ellie and I have been serving as Parking Ambassadors along with members of the Parking Commission and City staff. The Ambassadors have been assisting first time visitors with the logistics of parking (and paying) at the garage. The overall impression from the public has been very positive. The spring snowstorm inspired many people to try sheltered parking. All but one of the commercials spaces surrounding the facility have been leased or purchased. Streamline will begin to use the facility as their downtown transfer station before the end of April. A grand opening ceremony is being planned for the coming weeks. No date has been set. Streetscape Project Update I will be presenting the Side Street Streetscape Plans to the City of Bozeman Engineering Department for review and approval. This is a necessary step in order for the Planning Department to suggest or possibly require property owners to implement the design as part of any site improvements or redevelopment. I am STILL developing a Downtown Streetscape Assistance Program as an incentive for property owners to implement the elements prescribed in our Downtown Streetscape Improvement Plan as engineered by TD&H. According to Montana statute, Tax Increment Funds can be used for “public projects or the public portion of private projects” including: The creation or improvement of public space, plazas, greenspace and streetscapes that are part of or adjacent to the proposed development. This program would reward private entities for making substantial investments in the downtown urban renewal district by helping fund prescribed public streetscape improvements associated with new development and redevelopment of existing sites. For instance, the program could be as specific as reimbursing a developer 15% of the cost to purchase and install sidewalk lamp posts and luminaries. If each lamp installed cost $6000, then the TIF reimbursement would equal $900. Discussion and Decision Items HB645 and HB653 Updates Chris informed the board that HB653 (Pomnichowski, D-Bozeman) allowing for TIF base year taxable value to be adjusted to compensate for property loss due to disaster was well received by the Joint Legislative Taxation Committee. Chris testified before the Committee stressing the importance of such a provision not only for Bozeman, but for any TIFD facing a similar situation in the future. Others that testified in support included: Anna Rosenberry (COB Finance Director), David Smith (Chamber of Commerce President), and Greg Krueger (Downtown Billings Executive Director). Chris updated the board that the TIFD and COB request that federal stimulus funding be allocated for a disaster clean-up loan from HB645 was denied in House committee. Despite the hard work by Representative Brady Wiseman and similar requests from Miles City and Whitehall, the requested provision was not included in the version passed by the House. Inter-local TIF Agreement Chris updated the board that he had met with Anna Rosenberry, COB Finance Director, about the draft language of the agreement. In premise the draft would propose that the City and County allow the TIF to retain their mils while BSD7 receive their school mils. The draft would suggest that the State mils be transferred to BSD7 over a period of 3 to 5 years. Anna agreed to put a working draft together by early May. Scenario Planning for 2010-2012 Chris suggested that the board conduct a scenario planning session to consider the impacts on the TIFD and board during difficult financial times that may occur in the coming years. Chris said that he has discussed this idea with Paul Bentley, MSU Leadership Program. Mr. Bentley has provided some ideas regarding TIF scenario planning: 1) He could facilitate a session as he has professionally conducted hundreds of similar exercises for corporations and non-profits; or 2) he could provide some framework documents that would allow the board to work through the exercises internally. The board agreed that such a forward-looking exercise would be prudent considering the upcoming budgetary issues facing the TIF. The group also decided that we should conduct the process internally as suggested by Mr. Bentley. Chris said that he would meet with Mr. Bentley to prepare the exercise for an upcoming board meeting. Bobby adjourned the meeting.