HomeMy WebLinkAboutResolution 4589 Amending FY 15 North 7th Tax Increment Finance District so
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COMMISSION RESOLUTION NO. 4589
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF
BOZEMAN, MONTANA, AMENDING FISCAL YEAR 2015 (FY15) NORTH
7' TAX INCREMENT FINANCE DISTRICT FUND BUDGET TO
INCLUDE ADDITIONAL EXPENDITURES OF $20,000 FOR DISTRICT
CONSULTANT SERVICES, $100,000 FOR FIBER OPTIC PROJECT
COSTS, AND $75,000 FOR DESIGN STANDARD CREATION.
WHEREAS, on June 2, 2014, the North 7th Urban Renewal District (the District ) presented
their annual work-plan report and budget request for Fiscal Year 2015 to the City Commission; and
WHEREAS the City Commission exercises its authority to adopt budgets and authorize
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expenditures for the District in accordance with Montana Code Annotated 7-15-4281; and
WHEREAS, the City Commission did, on the 23rd day of June, 2014, after due and proper
legal notice conduct a public hearing on and adopt Resolution No. 4531 - A RESOLUTION OF THE
CITY COMMISSION OF THE CITY OF BOZEMAN, MONTANA, APPROPRIATING FUNDS FOR
VARIOUS BUDGET UNITS, AND FURTHER ESTIMATING REVENUE NECESSARY TO
OPERATE AND MAINTAIN SERVICES OF MUNICIPAL GOVERNMENT FOR THE FISCAL
YEAR ENDING JUNE 30, 2015; and
WHEREAS, on January 8, 2015 the District approved a motion to amend the work-plan and
budget to include $20 000 for TIF consultant services for analysis of the district g � y
d st ct boundaries and for
rewriting the urban renewal plan.
WHEREAS, on January 8, 2015 the District approved a motion to amend the work plan and
budget to include $100,000 for fiber optic engineering design and project management within the
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district; and
WHEREAS, on February 5, 2015 the District approved a motion to amend the work plan and
budget to include $75,000 to create comprehensive design standards for the North 7"'Avenue Corridor;
and
WHEREAS, the North 7tt' Tax Increment Finance District Special Revenue Funds are to be
expended on projects included in the North 7u, Urban Renewal District's work-plan, to benefit the
District; and
WHEREAS, the City Commission did, on the 16th day of March, 2015, after due and proper
legal notice, conduct a public hearing on the proposed budget amendments.
NOW, THEREFORE,BE IT RESOLVED by the City Commission of the City of Bozeman,
Montana,to wit:
Section 1—Appropriation Additions
The City Commission of the City of Bozeman, Montana, does hereby authorize additional
expenditures within the North 7th Tax Increment District Fund in Fiscal Year 2015 in the following
amounts:
North 7t" Tax Increment District Fund:
Consulting Services—TIF District $20,000
Consulting Services—Fiber Optic Engineering& Project Management $100,000
Consulting Services—Design Standards $75,000
GRAND TOTAL—Additional Appropriations S 195.000
Section 2—Use of Fund Reserves
The increased appropriations shall be funded from un-used cash reserves in the North 71t'Tax
Increment District Fund. Current Beginning and Ending Reserves estimates are as follows:
Beginning FY15 Estimated Revenues Amended Amended FY15 Ending
Appropriations Balance
$1,466,251 $728,013 $1,243,500 $950,764
Section 3
Pursuant to Section 7-6-4030, M.C.A., this resolution, upon its passage, shall be in full force
and effect on July 1, 2014.
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Section 4
That should it be found by any court of competent jurisdiction that any section, clause,portion,
sentence, word, or phrase of this resolution is deemed to be contrary to any existing law or regulations,
that in this instance, it is the intent of the City Commission of the City of Bozeman, Montana, that all
other portions, sections, words, clauses, phrases, or paragraphs of this document shall remain in full
force and effect.
PASSED AND APPROVED by the City Commission of the City of Bozeman, Montana, at a
regular session thereof held on the 16t" day of March, 2015.
JE,FF K. KRAUSS
aY/or
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APPROVED AS TO FORM:
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GREG SULLIVAN
City Attorney
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