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HomeMy WebLinkAbout11-17-09 Downtown Tax Increment Finance Board Minutes Downtown Tax Increment Finance Board Meeting Minutes 11/17/09 Attending: Bobby Bear, Bob Lashaway, Bill Stoddart Chris Naumann Absent: Peter Bertelsen, Thail Davis, Vonda Laird, Public Comments None Disclosures None Minutes October minutes not approved due to lack of a quorum. Financial Report Chris outlined recent financial activity for the TIF account. The TIF received $4,200.00 from the Library Foundation as payment for three pedestrian benches. Chris indicated that the TIF paid its second quarter management fee to the Downtown Partnership. Other expenses included: engineering fees for TD&H to formally submit the side-street streetscape plans to the City of Bozeman; Soroptomist Park maintenance, Soroptomist sculpture concrete pads, and replacement flag holders; and the purchase of a new street lamp and the bike stall rack. Chris informed the board that the first half of the State entitlement revenue should be deposited in November and the increment is realized in December. Program Director’s Report None Presented Executive Director’s Report Tax Increment Finance District Board Downtown Improvement Plan The Downtown Improvement Plan was scheduled for consideration for adoption by the City th Commission on Monday, November 7. At this meeting, I and City staff asked the Commission th to “open and continue” until Monday, December 14 to allow time for another public meeting and one more set of revisions. I informed that Commission that the remaining concerns related to the public parking lots, downtown utility infrastructure, construction project coordination, and capitalizing on Bozeman as a regional hub. The Commission unanimously supported this course of action. th The public meeting was held at 8:00am on November 17. th The Downtown Plan Advisory Committee will discuss further revisions on November 19. TIF Interlocal Agreement Update On Thursday, November 29 a meeting was held to discuss the TIF Interlocal Agreement. Present at the meeting were: Chris Kukulski and Anna Rosenberry, COB; Steve Johnson and Kirk Miller, BSD7; Ed Blackman, Gallatin County; and Chris Naumann, Bobby Bear, and Bob Lashaway, TIF. The group discussed the intent of the language found in COB Ord No. 1628 and the purpose of the inflation adjusted dollar cap. In the end, the group agreed that the TIF should keep the increment up to the inflation adjusted cap of approximately $1,060,000.00 and the amount above the cap should be redistributed to the taxing entities based on their mils. This distribution would be in effect for FY2010 and FY2011. The group will continue to draft and finalize the Interlocal agreement which will be go into effect for FY2012. Technical Assistance Program Update I have given the draft Technical Assistance documents to a couple architects for their review. Since the program relies heavily on their participation, I want to learn their perspective and address any issues before launching the program. After collecting their thoughts, comments and concerns, I plan to consult with Randy Hafer as he was instrumental in establishing a similar program in downtown Billings that proved very successful. Downtown Bozeman Gas Refurbishment Project Northwestern Energy has completed the downtown refurbishment project. They still have some asphalt and concrete patching to do, but all of the gas infrastructure improvements have been made. Northwestern also made improvements at numerous improvements to business services on the “customer side” of the meter as a courtesy. Northwestern began the project in mid- August. In 12 weeks of work they completed the following upgrades:  Serviced 2,048 feet of the 8” steel main  Installed 124 feet of new 8” steel main  Installed 627 feet of new plastic 2” main  Refurbished 86 gas meter sets  Relocated 13 indoor meter sets outside  Installed 52 new services Discussion and Decision Items Tax Increment Projection and Interlocal Agreement The TIF Interlocal Meeting was held on October 29, 2009. In attendance was: Chris Kukulski and Anna Rosenberry (COB), Steve Johnson and Kirk Miller (BSD7), Ed Blackman (Gallatin Co.), and Chris Naumann, Bobby Bear, and Bob Lashaway (TIF). After much discussion about the intent of the language of Ord. 1628, the inflation adjusted cap, and the timing of the garage project. All parties agreed that the TIF’s past and continued investment in downtown benefits all of the taxing entities. All parties verbally agreed to let the TIF retain the entire amount of the increment below the inflation-adjusted cap ($1,060,00.000). Any increment above the cap will be redistributed to the taxing entities on a pro-rata basis. This agreement will be ratified in Memorandum of Understanding between all parties and remain in effect until the original sunset date in November 2011 at which time a formal interlocal agreement will take effect. Downtown Improvement Plan Update At the City Commission meeting on November 16, 2009 I asked the Commission to “open and continue” their consideration of the Downtown Improvement Plan for adoption. The reason being that I felt it necessary to have an additional public meeting to discuss concerns and possible revisions. The Commission applauded the decision and welcomed more public input. The Commission will reconsider the Plan for adoption on December 14, 2009. There are three areas of concern still being voiced by some downtown business and property owners: the future of the public parking lots; the lack of consideration for infrastructure issues; and the minimal discussion of downtown’s role in Bozeman serving as a regional hub and national destination. I have scheduled a Public Forum to discuss these and other issues associated with the Plan for th 7:30am Thursday November 19 at the Community Room in the Public Library. City Manager Kukulski’s Comments Chris Kukulski joined the meeting to discuss two issues with the board. First he informed the group that all parties were still looking for constructive uses of the $50,000.00 that NorthWestern Energy has contributed to the unused Clean-up Fund. He indicated that there is concern among the City Commission about the City using these funds and Chris K. said he thought it best therefore to find another avenue through which the money could be invested downtown. That being said, Chris K. continued by proposing two ideas for the TIF to consider both involving the TIF receiving the NWE money: 1. The TIF offer to pay the impact fees associated with rebuilding at the blast site 2. The consider funding a Downtown Revolving Loan Fund The board agreed that both of these ideas would be appropriate uses of TIF funds and beneficial to downtown. Chris N. asked that if the Commission did not want to accept the NWE money then he wondered if they would object to the TIF accepting them since the TIF is a City account. Chris K. said he would survey the Commission for clarification. With no future or old business to discuss, Bobby adjourned the meeting.