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HomeMy WebLinkAbout10-21-14 Downtown Tax Increment Finance District (TIF) Minutes Downtown Tax Increment Finance Board Meeting Minutes October 21, 2014 Attending: Bobby Bear, Bob Hietala, Shannon Haish, Vonda Laird, Bob Lashaway, Scott Lee, Bill Stoddart, Carson Taylor and Chris Naumann Absent: None Public Comments None Disclosures None Minutes ACTION: Bob Hietala moved to approve the September minutes as presented with the addition of Carson Taylor as “attending”. Vonda Laird seconded the motion. All voted in favor. Financial Report Chris presented the finance report as of October 21, 2014. The expenses over the last month included: $25,000 for 2nd quarter management fee; $10,500 for Dutton Bldg assistance grants; plus payments for the truck route study and B3 ZMA project. The board had no questions regarding the finance report. Executive Director’s Report Technical Assistance Program Update The chart lists the 11 grants awarded in FY2014 totaling a $62,000 commitment of the $100,000 budget. No grants have been awarded thus far in FY2015. Keep in mind that the committed grant amounts are only tentative since the actual reimbursement amount will be determined as a one to one match upon completion of the grant work. As a reminder, the Planning grants have a $7500 cap and the Façade grants are capped at $3000. Bold listings indicate completed. FY2014 Downtown Technical Assistance Program Project Name Project Address Applicant Professional Grant Type 34 North Bozeman 34 North Bozeman Big Sky Beverage Intrinsik Planning Bozeman Public Library Foundation Letter I received a letter from Susan Gregory, Library Director, and Paula Beswick, Library Foundation Director, inviting the TIF Board to participate in several landscaping and accessibility improvement projects. The Library is working on a variety of projects that would not only visually enhance the property but also improve vehicle and pedestrian circulation. Mendenhall Building Project A 5-story 90,000 square foot mixed use building has been proposed 5 West Mendenhall. One floor of commercial use, two floors of office, two floors of residential (25-30 apartments), and one level of below grade parking (50-60 stalls). This project will be reviewed by the Design Review Board this week and is scheduled to be on the City Commission agenda for final approval on November 10th. Downtown Parking Update The graphs below show the trends in both garage use and revenue for September. Entries and revenues were up 17% and up 25% over September 2013. Therefore year-to-date entries and revenue for 2014 are up 15% and 19% respectively over 2013. Masonic Temple 14 South Tracy Masonic Temple CTA Planning Masonic Temple 14 South Tracy Masonic Temple CTA Facade Lindley Park Hotel 702 East Main Renslow Group Minarik Architecture Planning Grand & Main 136 West Main Bzn Redevelopment Thinktank Planning Willson Residences 404 West Main Bridger Builders Comma Q Planning Willson Residences 404 West Main Bridger Builders Comma Q Facade The Dutton 131 West Main Dutton Developers Springer Group Planning The Dutton 131 West Main Dutton Developers Springer Group Facade Montana Motor 23 West Babcock MMSB, LLC AE Dynamics Planning Montana Motor 23 West Babcock MMSB, LLC Langlas Facade Discussion and Decision Items Downtown Fiber Network Update David Fine, COB Economic Development, provided an update regarding the downtown fiber optic internet network. He presented a map depicting a downtown ring that would connect to the fiber network source at Rouse-I90. The downtown ring and connection could be built as Phase One of the Bozeman-wide community network. David indicated that the master plan consultants, Design 9, will be proposing an “open access” platform. The City or an economic development agency would own the network but would not provide any service. Private providers would lease capacity on the network and sell services to individual customers. David said there are currently three private providers interested in the open access network. Mendenhall Streetscape Project Chris provided an update report about the project. He highlighted that TD&H Engineering was selected as the design firm. The preliminary project timeline would mean construction would take place late fall of 2015 or spring of 2016. Chris also presented the idea of including the side streets between Mendenhall and Main Street to be included in the scope of the project. The board discussed how best to incorporate the side streets and not only those north of Main but also the section south of Main. The ideas was brought up to include all of the block faces into one SID and then build them over two construction seasons. Chris said he would check with COB Legal and Finance if that would be possible. Chris said he would also be giving the same update to the BID Board tomorrow and look for their input. At 1:15pm Bobby adjourned the meeting. DURT Project Phase 1: Mendenhall Streetscape The primary objective of the Downtown Urban Route Transformation (DURT) Project is to upgrade Mendenhall and Babcock Streets into “complete streets”. These urban routes which flank downtown’s historic Main Street need to be transformed into modern complete streets so as to better serve all modes of transportation. In current form, Mendenhall and Babcock lack the pedestrian amenities found along Main Street and many of the north-south side streets. Phase 1 involves improvements along the Mendenhall corridor. Utility upgrades were completed in 2013. Mendenhall was repaved in 2014. The next and final component is the design and installation of a new downtown streetscape. PARTNERSHIPS and STAKEHOLDERS The City of Bozeman and the Downtown Bozeman Partnership have collaborated to organize and implement the Mendenhall Streetscape Project. TD& H Engineering was selected through a competitive Request for Qualifications process for the design of the project. The downtown BID, DBA and TIF Boards will be regularly updated about the project progress and asked to advise on certain aspects of the project. Property owners will be informed and engaged throughout the project. FUNDING SOURCES SID Funds (Special Improvement District) The majority of the streetscape replacement will be funded by establishing a Special Improvement District. The City of Bozeman will administer the creation of the SID. Property owners will be contacted and asked to petition in support of the SID. Downtown TIF Funds (Tax Increment Finance District) The Downtown TIF District has dedicated $320,000 to pay for the planning and design of the streetscape improvements. The TIF has also allocated and additional $100,000 and $50,000 to fund the fiber optic and streetlamp components of the project. PROJECT AREA The streetscape project area extends east-west along Mendenhall Street from Rouse Avenue to Grand Avenue. The project will also extend south along the side streets between Mendenhall and Main Street. See attached map. TIMELINE Construction of the streetscape could take place as early as October and November of 2015 or at the latest during the Spring of 2016. PROJECT COMPONENTS The streetscape improvements will include the following minimum components: • New sidewalks • Lumec Serenade LED streetlamps • Boulevard street trees • Pedestrian benches • Trash and recycling receptacles • Bike racks The following components are also being considered: • Underground fiber optic broadband conduit and service boxes • Underground drip irrigation system for trees and flower baskets