HomeMy WebLinkAboutResolution 5302 Intent to Call a Public Hearing to Approve a Project in the Bozeman Midtown Urban Renewal District as an Urban Renewal Project
RESOLUTION 5302
RESOLUTION CALLING A PUBLIC HEARING TO APPROVE A PROJECT IN THE
BOZEMAN MIDTOWN URBAN RENEWAL DISTRICT AS AN URBAN RENEWAL
PROJECT AND USING TAX INCREMENT REVENUES OR TAX INCREMENT
REVENUE BONDS TO PAY, REIMBURSE OR FINANCE ELIGIBLE COSTS OF SUCH
PROJECT
BE IT RESOLVED by the City Commission (the “Commission”) of the City of
Bozeman, Montana (the “City”), as follows:
Section 1
Recitals.
1.01. Under the provisions of Montana Code Annotated, Title 7, Chapter 15, Parts 42
and 43, as amended (the “Act”), the City is authorized to create urban renewal areas, prepare and
adopt an urban renewal plan therefor and amendments thereto, undertake urban renewal projects
therein, provide for the segregation and collection of tax increment with respect to property taxes
collected in such areas, and apply tax increment revenues derived from projects undertaken
within the urban renewal area to pay eligible costs.
1.02. Pursuant to the Act and Ordinance No. 1685 adopted by the City Commission of
the City (the “City Commission”) on November 27, 2006, as amended by Ordinance No. 1925,
adopted by the City Commission on December 16, 2015 (collectively, the “Ordinance”), the City
has created the Bozeman Midtown Urban Renewal District (the “District”) as an urban renewal
district and has approved the Bozeman Midtown Urban Renewal Plan (the “Plan”) as an urban
renewal plan in accordance with the Act, which Plan provides for the segregation and collection
of tax increment revenues with respect to the District.
1.03. As set forth in the Plan, tax increment financing is to be used to further the
implementation goals in the Plan, which include promoting economic development and unified,
human-scale design as well as supporting compatible urban density mixed land uses within the
District, in accordance with the provisions of the Act.
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Resolution 5302, Calling a Public Hearing for a Project in the Midtown URD, Known as the 9TEN Project
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1.04. In addition, the Plan created the Bozeman Midtown Urban Renewal Board (the
“Board”) to exercise the powers of an urban renewal agency under the Act with respect to the
District and to implement the Plan. Among other things, the Board is required to prepare an
annual work program and budget for projects in the District, which program and budget are
subject to review and approval by the Commission.
1.05. Pursuant to Resolution No. 4770, adopted by the Commission on January 23, 2017,
the City approved a program to encourage investment the development and redevelopment of
commercial and mixed use property within the District (the “Midtown TIF Assistance
Program”), and delegated authority to the Board to administer the Midtown TIF Assistance
Program.
Section 2
The Project.
816 N. 8th, LLC (the “Developer”) proposes to undertake the construction of a mixed-use
development to be known as 9TEN, consisting of approximately 90 residential condominium
units (with 20% of the units expected to constitute deed-restricted affordable housing units),
tenant amenities and commercial space; onsite parking; public improvements including curb,
gutter and sidewalk improvements, water and sewer line extensions, and storm sewer
infrastructure; and related improvements (collectively, the “Project”) on land located in the
District. The Project is proposed to be located on a site that is currently vacant and generally
bound by North 8th Avenue, West Aspen Street and West Juniper Street.
The Developer has submitted an application through the Midtown TIF Assistance
Program, requesting tax increment assistance with respect to certain eligible costs of the Project,
including public improvements including curb, gutter and sidewalk improvements, water and
sewer line extensions, and storm sewer infrastructure, as well as impact fees, cash in lieu of park
land and fees and charges related to installing fiber optic cable (the “Eligible Costs”). The Board
has granted preliminary approval to the use of tax increment assistance to pay or reimburse
Eligible Costs.
The Project, including the Eligible Costs, is contemplated by and within the scope of the
Plan, and the Eligible Costs are eligible for tax increment financing under the Act. The Board
has recommended that the Commission approve the Project as an urban renewal project under
the Act and the Plan and approve using tax increment revenues or issuing tax increment revenue
bonds payable from tax increment revenues of the District, as the bonding capacity of the District
allows, to pay, reimburse or finance all or a portion of the Eligible Costs.
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Resolution 5302, Calling a Public Hearing for a Project in the Midtown URD, Known as the 9TEN Project
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Section 3
Preliminary Findings.
The Commission hereby finds, as a preliminary matter, with respect to the Project as
follows:
a. no persons will be displaced from their housing by the Project;
b. the Plan and the Project conform to the Bozeman Community Plan or parts
thereof for the City as a whole;
c. the Plan and the Project will afford maximum opportunity, consistent with
the needs of the City as a whole, for the rehabilitation or redevelopment of the
District by private enterprise;
d. taking into account the use of tax increment revenues or the proceeds of
tax increment revenue bonds to pay or reimburse the Developer for all or a
portion of the Eligible Costs, there is expected to be a sound and adequate
financial program for the financing of the Project; and
e. the Project constitutes an urban renewal project within the meaning of the
Act and the Plan.
Section 4
Public Hearing.
A public hearing is hereby called and shall be held on May 25, 2021 at 6:00 p.m. in the
City Commission Room at City Hall, 121 N. Rouse Avenue, Bozeman, Montana, on the
approval of the Project and the City’s proposed use of tax increment financing therefor. Due to
the City’s Declaration of Emergency for the COVID-19 Pandemic, this meeting will be held
online using Webex or other technology, with the link to be available on the City’s website at
www.bozeman.net/meetings.
Section 5
Notice.
Notice of the public hearing shall be published in the Bozeman Daily Chronicle on May
9, 2021 and May 16, 2021, in substantially the form attached as Exhibit A hereto (which is
incorporated by reference and made a part hereof).
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Resolution 5302, Calling a Public Hearing for a Project in the Midtown URD, Known as the 9TEN Project
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PASSED, ADOPTED, AND APPROVED by the City Commission of the City of
Bozeman, Montana, at a regular session thereof held on the 4th day of May, 2021.
___________________________________
CYNTHIA ANDRUS
Mayor
ATTEST:
___________________________________
MIKE MAAS
City Clerk
APPROVED AS TO FORM:
___________________________________
GREG SULLIVAN
City Attorney
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CERTIFICATE AS TO RESOLUTION AND ADOPTING VOTE
I, the undersigned, being the duly qualified and acting recording officer of the City of
Bozeman, Montana (the “City”), hereby certify that the attached resolution is a true copy of
Resolution No. 5302 entitled: “RESOLUTION CALLING A PUBLIC HEARING TO
APPROVE A PROJECT IN THE BOZEMAN MIDTOWN URBAN RENEWAL
DISTRICT AS AN URBAN RENEWAL PROJECT AND USING TAX INCREMENT
REVENUES OR TAX INCREMENT REVENUE BONDS TO PAY, REIMBURSE OR
FINANCE ELIGIBLE COSTS OF SUCH PROJECT” (the “Resolution”), on file in the
original records of the City in my legal custody; that the Resolution was duly adopted by the City
Commission of the City at a regular meeting on May 4, 2021, and that the meeting was duly held
by the City Commission and was attended throughout by a quorum, pursuant to call and notice of
such meeting given as required by law; and that the Resolution has not as of the date hereof been
amended or repealed.
I further certify that, upon vote being taken on the Resolution at said meeting, the following
Commission members voted in favor thereof: Andrus, Cunningham, Pomeroy, Madgic, & Coburn;
voted against the same: None; abstained from voting thereon: None; or were absent: None.
WITNESS my hand and seal officially this 4th day of May, 2021.
(SEAL)
__________________________________
MIKE MAAS
City Clerk
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Resolution 5302, Calling a Public Hearing for a Project in the Midtown URD, Known as the 9TEN Project
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EXHIBIT A
NOTICE OF PUBLIC HEARING ON APPROVING A PROJECT IN THE BOZEMAN
MIDTOWN URBAN RENEWAL DISTRICT AS AN URBAN RENEWAL PROJECT AND
USING TAX INCREMENT REVENUES OR TAX INCREMENT REVENUE BONDS TO
PAY, REIMBURSE OR FINANCE ELIGIBLE COSTS OF SUCH PROJECT
NOTICE IS HEREBY GIVEN that the City Commission (the “Commission”) of the City
of Bozeman, Montana (the “City”) will hold a public hearing on May 25, 2021 at 6:00 p.m. in the
City Commission Room at City Hall, 121 N. Rouse Avenue, Bozeman, Montana, to be held online
using Webex or other technology, with the link to be available on the City’s website at
www.bozeman.net/meetings, on the approval of the following project in the Bozeman Midtown
Urban Renewal District as an urban renewal project: the construction of a mixed-use development
to be known as 9TEN, consisting of approximately 90 residential condominium units (with 20%
of the units expected to constitute deed-restricted affordable housing units), tenant amenities and
commercial space; onsite parking; public improvements including curb, gutter and sidewalk
improvements, water and sewer line extensions, and storm sewer infrastructure; and related
improvements (collectively, the “Project”). The Project is proposed to be located on a site that is
currently vacant and generally bound by North 8th Avenue, West Aspen Street and West Juniper
Street. It is proposed that the City pay or reimburse the developer of the Project for certain eligible
costs of the Project, either from tax increment revenues or the proceeds of tax increment revenue
bonds.
Any interested persons may appear and will be heard or may file written comments with
the City Clerk prior to such hearing.
DATED this 4th day of May, 2021.
Mike Maas
City Clerk
Publication Dates: May 9, 2021
May 16, 2021
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