HomeMy WebLinkAboutResolution 4671 Amending the Northeast Urban Renewal District of North Wallace Avenue €v
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COMMISSION RESOLUTION NO. 4671
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF BOZE MAN,
MONTANA AMENDING THE NORTHEAST URBAN RENEWAL DISTRICT
FY16 WORK PLAN AND BUDGET TO INCLUDE COSTS ASSOCIATED WITH
FUNDING THE LOCAL SHARE (15%) OF THE NORTH WALLACE AVENUE
RECONSTRUCTION PROJECT.
WHEREAS, the Northeast Urban Renewal District Plan was duly adopted by the Bozeman City
Commission by City of Bozeman Ordinance No. 1655, dated November 28, 2005; and
WHEREAS, the City of Bozeman Northeast Urban Renewal District Board has been duly
established by the Bozeman City Commission as provided for in the Northeast Urban Renewal District
Plan; and
WHEREAS, the City of Bozeman has determined that the reconstruction of North Wallace
Avenue is important to the function of the overall street network; and i
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WHEREAS,the City of Bozeman Northeast Urban Renewal District Plan has the mission,vision
and goals to remedy conditions associated with blight,improve infrastructure,revitalize the neighborhood,
and to utilize Tax Increment Financing (TIF) in conjunction with other funding sources to improve the
economic vitality within the district; and
WHEREAS,the City of Bozeman Northeast Urban Renewal District Board held a regular meeting IN
on Tuesday, February 2, 2016, to consider authorization of the North Wallace Avenue Reconstruction
Project as an urban renewal infrastructure improvement project and a pledge to commit flax increment ]
funds,and to amend its FY 16 Work Plan and Budget to pay a portion of the project costs; and
WHEREAS, at its' regular meeting on held on Tuesday, February 2, 2016,the Northeast Urban
Renewal District Board voted unanimously to support Resolution 2016-01 which found:
1. Infrastructure improvements meet Guiding Principle 1 and Goals A & B of the Northeast Urban
Renewal District Plan:
• Principle 1. Ensure the health,safety, and security of the District,
• Goal A: Outdated or insufficient infrastructure should be repaired, replaced, or otherwise
improved,
• Goal B: Encourage a land use pattern that facilitates all modes of transportation - vehicular,
bicycle, pedestrian, mass transit, and commercial - for safe, efficient and convenient access for
residential, commercial, and industrial uses; and
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2. The North Wallace Avenue Reconstruction Project is an infrastructure project in conformance with
Goal A & B of Principle 1, and other Principles and Goals of the Northeast Urban Renewal District
Plan; and
WHEREAS, a sound and adequate financial program exists for the financing of this street
reconstruction project and includes moneys from the Street Maintenance Fund dedicated to
reconstructions,and the approximately 15 percent of the total cost remaining,or local share,to be paid by
the property owners along North Wallace Avenue through the creation of a Special Improvement District;
and
WHEREAS, the boundaries of the Special Improvement District will over-lap the boundaries
Northeast Urban Renewal District. Those properties within both the SID and the NURD will be allocated
project costs for each property that may be paid-in-full by the Northeast Urban Renewal District prior to
the commencement of construction; and
WHEREAS,The spending of TIF funds on infrastructure improvements is allowed under Section
7-15-4288, MCA which states, "Costs that may be paid by tax increment financing" allows the
municipality to use tax increments to pay the following costs of or incurred in connection with an urban
renewal project: ....."(4) the acquisition, construction, and improvement of public improvements or
infrastructure,including streets,roads,curbs, gutters,sidewalks,pedestrian malls, alleys,parking lots and
off street parking facilities, sewers, sewer lines, sewage treatment facilities, storm sewers, waterlines,
waterways, water treatment facilities, natural gas lines, electrical lines, telecommunications lines, rail
lines, rail spurs, bridges, publicly owned buildings, and any public improvements authorized by Title 7,
chapter 12,parts 41 through 45; Title 7, chapter 13,parts 42 and 43; and Title 7, chapter 14, part 47, and
items of personal property to be used in connection with improvements for which the foregoing costs may
be incurred;....."; and
WHEREAS, tax increment funds are available to pay the estimated cost of approximately
$150,000 due from the property owners along North Wallace Avenue within the Northeast Urban Renewal
District; and
WHEREAS, notice of the public hearing was published on February 71h and Ie, 2016 pursuant
to the provisions of Section 7-6-4021, Montana Code Annotated, the City Commission of the City of
Bozeman, Montana will conduct a public hearing on amending the District budget for Fiscal Year 2015-
2016, embodied in Commission Resolution No.4671; and
NOW, THEREFORE, BE IT RESOLVED by the City Commission of the City of Bozeman,
Montana,to wit:
The Bozeman City Commission, having heard and considered all input, adopted the findings
presented herein and finds that:
1. The Northeast Urban Renewal District Board has designated the North Wallace Avenue
Reconstruction Project as an authorized urban renewal infrastructure development project; and
2. The Northeast Urban Renewal District Board pledged to commit tax increment funds to pay 100%of
the property owners' share(local share)of the project costs for properties within the Northeast Urban
Renewal District portion of the North Wallace Avenue SID; and
3. The Northeast Urban Renewal District Board forwarded to the Bozeman City Commission this
amendment to its FY 16 Work Plan and Budget to Designate the Undesignated Reserve for the North
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Wallace Avenue Reconstruction Project and proposed amend any remaining uncommitted Priority II
funds to cover the remainder,followed by any remaining uncommitted Priority III funds,then Priority
I funds.
Section 1 —Appropriation Additions
The FY 2016 annual work plan and budget of the District is hereby amended by authorizing
$150,000 in additional expenditures in Fiscal Year 2016 to pay 100%of the property owners' share (local
share)of the project costs for properties within the Northeast Urban Renewal District portion of the North
Wallace Avenue SID 732.
Section 2—Appropriation Reductions
The FY 2016 annual work plan and budget of the District is also amended by removing the
appropriation for East Peach Street of$88,912, and allocating Undesignated Reserve amounts to the
North Wallace SID project.
Section 3—Summary of Amended Appropriation and Ending Balance
Beginning FYI Estimated Revenues Amended Estimated Amended
Appropriations FY16 Ending Balance
$434,537 $85,000 $482,090 $37,447
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Section 3
Pursuant to Section 7-6-4030, M.C.A., this resolution, upon its passage, shall be in full force
and effect on February 22, 2016.
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.
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PASSED AND APPROVED by the City Commission of the City of Bozeman, Montana, at a
regular session thereof held on the 22Id day of February,2016.
CARSON TAYLOR
Mayor
ATTEST
S'TA k N?C1VIG:
City;;Clerk '
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APPROVED AS TO FORM:
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GRE SULLIVAN
City Attorney
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