HomeMy WebLinkAboutNSURB FY10 work and budget plan.pdfTax Increment Financing District
Fund Expenditure Plan 2010
For the
North Seventh Urban Renewal District
In November 2006, the City of Bozeman designated a Tax Increment Redevelopment
Area (TIF), underwhich incremental increases in taxes due to redevelopment are
accumulated in a TIF fund. The stated goals and objectives of this Redevelopment Plan
were as follows:
MISSION VISION
This Plan is the city’s response to remedy the conditions of blight found in the August
2005 report through thoughtful redevelopment of the Corridor. The following Corridor
Goals are taken from the Design and Connectivity Plan (DCP). An expanded
description of the intent of each goal is found in the DCP Chapter 2.
Corridor Goals
A basic goal is to have an active and exciting corridor that is attractive with a distinct
character. A strategy for achieving this goal is to improve the experience for the user
by creating safe attractive walkways and streets and by providing buildings and
landscaping that are of interest to users and passersby. Several key strategies should
be followed:
1. Provide a distinct identity for the corridor
2. Develop the corridor as a focus for commercial and entertainment
activities that serve residents and visitors alike
3. Strengthen the corridor as a neighborhood service center
4. Provide mixed use development
5. Clearly define gateways at key locations along the corridor
6. Improve auto, bicycle and pedestrian circulation along the
corridor
7. Provide pedestrian connections to adjacent neighborhoods
8. Establish a wayfinding system
9. Guide new development along the corridor such that it improves the aesthetic
experience
10. Coordinate public and private improvements
11. Strengthen connections between complementary uses
12. Provide flexible public space along the corridor
GUIDING PRINCIPLES
In addition to the specifically stated goals for the District the following Guiding
Principles have been adopted to provide a basis for decision making over the life of the
District. These principles should be applied to any development program or other
activity that will affect the District:
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1. Ensure the health safety and security of the District
2. Balance commerce and livability in the District within the mixed use
framework
3. Public open space is essential to a healthy and appealing urban environment
4. The costs of projects and programs shall be weighed against their benefits to
the District
5. Private property shall not be acquired for other private use through the eminent
domain process in the implementation of any aspect of this plan
6. The City shall not limit its vision for the District improvements to monies
available solely through the TIF funding
7. Projects shall consider impacts on adjacent neighborhoods
8. The city shall consider the impact on the District of all projects undertaken
outside of the District
PREVIOUS WORK AND BUDGET PLANS, STATUS OF EXPENDITURES
The City Commission approved on September 2, 2008 the first submission by NSURB,
considered Phase I of the district’s renewal:
2009 expenditure plan Operating
Budget Other Expenditure
Plan
Balance 08/20/08 93,316 93,316
Interest 1,000 1,000
Big Box Funds 232,000 232,000
Total Revenue Available 94,316 232,000 326,316
Engineering plan, requires RFP 50,000 100,000 150,000
Subsidy program2 10,829 10,829
Part time staff and other professional svcs 10,829 10,829
Right-of-way land acquisitions 10,829 10,829
Construction – Lights, Curb and Gutter, Sidewalk,
Landscaping and Irrigation 11,829 132,000 143,829
Total Expenditures 94,316 232,000 326,316
Ending Balance 0 0 0
2Commercial Rehabilitation Loan Program, copied from Missoula Renewal Agency
Of the above monies approved last September, only $73,579.00 has been slated/spent
for the professional agreement with Allied Engineering for Phase One the engineering
plan. This was done during the April 2, 2009 board meeting. Note: CTEP application for
handicap ramps in sidewalks from I-90 to Aspen Street is a portion of the engineering
plan.
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FY2010 BUDGET PLAN AND REQUEST FOR APPROVAL
During the next fiscal year, NSURB plans on continuing all of the programs approved
by the City Commission last Fall, designating the following enumerated projects also
considered parts of Phase I of the district’s renewal:
1. $16,100 for actual work required to complete bus stop project @ Van
County Market.
’s
to
The current application for a community block grant, Natalie Meyer’s
project, includes this portion for a bus stop in front of Van’s County Market.
State statute 7-15-4288 as “the acquisition, construction, and improvement
of infrastructure”. It complies with the City’s stated redevelopment activities
by helping to improve auto, bicycle and pedestrian circulation along the
corridor.
2. $22,500 more TIF monies for Commercial Rehabilitation Loan Program,
a subsidy program to encourage voluntary compliance by property
owners with life-safety regulations and assistance with façade and site
improvements. This money is permissible use under state statute 7-15-
4233, “to prepare plans for carrying out a program of voluntary or
compulsory repair and rehabilitation of buildings and improvements”. It
complies with the City’s stated redevelopment activities by ensuring the
health, safety and security of the District and helping to guide new
development. This will be added to the previously approved $10,829 for this
subsidy program.
3. $22,500 of TIF monies for demolition program, a subsidy program
encourage property owners. This money is permissible use under state
statute 7-15-4233, “to prepare plans for carrying out a program of voluntary
or compulsory repair and rehabilitation of buildings and improvements”. It
complies with the City’s stated redevelopment activities by ensuring the
health, safety and security of the District and helping to guide new
development.
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2010 North Seventh TIF
Proposed Expenditure Plan
TIF Other
APPROVED
’09 Operating
Budget/
Expenditure
Plan
2010
Expenditure
Plan
Balance 07/01/09 93,316 93,316 93,316
Interest 1,000 1,000 1,000
TIF allocation on 12/31/09 45,000 45,000
Big Box Funds 232,000 232,000 232,000
Community block grant1 16,100 16,100
Total Revenue Available 139,316 248,100 326,316 387,416
Engineering plan, professional
contract with Allied 50,000 100,000 150,000 150,000
Subsidy program2 33,329 10,829 33,329
Demolition program3 22,500 22,500
Part time staff and other
professional services 10,829 10,829 10,829
Public right-of-way
improvements 10,829 10,829 10,829
Construction – Lights, Curb
and Gutter, Sidewalk,
Landscaping and Irrigation
11,829 148,100 143,829 159,929
Total Expenditures 139,316 248,100 326,316 387,416
Ending Balance 0 0 0 0
1community block grant – actuality of dollars yet to be determined
2Commercial Rehabilitation Loan Program, copied from Missoula Renewal Agency; currently approved by
Assistant Legal Counsel Tim Cooper pending required ordinance approval
3Demolition Program – description and application process in the works