HomeMy WebLinkAbout03-22-22 - Downtown Urban Renewal District Board - Minutes
Downtown Urban Renewal District
Board Meeting Minutes
March 22, 2022
Attending: Bobby Bear, Emily Cope, David Fine, Cory Lawrence, Jen Madgic, Marley
McKenna, Tony Renslow, Angie Rutherford, Ellie Staley, Nicholas Wickes, Nick
Zelver
Minutes
ACTION: Cory Lawrence moved to approve the February minutes as presented.
Nick Zelver seconded the motion.
All voted in favor.
Discussion Items
March Finance Report
Ellie presented the March 2022 finance report. The board asked what the history of the starting
cash balance has been over the last ten years and how long it has taken to build it up to what it
has been. DBP staff stated they will send spreadsheet of the history.
FY2023 Draft Budget
Ellie presented the FY23 draft budget highlighting the DBP management fee to be increased by
6%, including the Fire Station One project of $1.6 million, including $200,000 for alley
improvements, $1 million for structuring parking site plans and bids. Ellie stated that some of the
projects that were in the FY22 budget, such as the Bozeman Creek Improvement and Fiber
Infrastructure, have been removed for the FY23 budget. The draft budget will be reviewed again
at the April board meeting.
Fire Station One Discussion
Funding for Fire Station 1 redevelopment was discussed at the last two meetings of the
Downtown URD board. On the City Commission Agenda for March 22nd, Ordinance 2106 and
the Buy/Sell Agreement for Fire Station 1 was added. Ellie stated that the $1.6 million of TIF
funds would be given after the project receives the Certificate of Occupancy. Cory Lawrence
stated he was disappointed with the entire process from the lack of information to a proforma
that was outdated. Marley McKenna stated that regardless of the process, the project is still a
win for the downtown area since it is creating work force housing. Nick Zelver stated that if the
funding for the project is approved by the City Commission, the amount should be worked into
the URD budget now so that is it earmarked now and can see how it effects the budget for
future years. Tony Renslow stated the board has a fiduciary responsibility and that the board
should have been provided a copy of the deed restriction that would guarantee the project stays
at 120% AMI. Tony also stated that not enough information was provided and the process was
incomplete. Bobby Bear stated there should be a process to ensure a fair disbursement of funds
if another project similar to this one were to come forward with a similar goal. Angie Rutherford
stated that the process and outcome of the project should be separated, and the risk is low
since the funds will be given after the CO is achieved. Nicholas Wickes stated that the URD
board has a fiduciary responsibility to stakeholders and that the existing grant programs that
provide funds to private parties all have applications that are reviewed and then approved.
The board agreed that Ellie should provide a public comment at the City Commission meeting
on March 22nd.
Public Comment
Mike Hope stated he had TIF Funds for his development on North 7th Avenue and felt that the
process for him to secure those funds were more cumbersome than the Fire Station One
process. He stated he had to show a payback plan with bank documentation to the city. He also
stated that the FS1 property is very expensive, and parking is a concern in the downtown area.
Emily Talago commented that the objective of TIF funds is to eliminate blight, she believes there
is no blight in downtown any longer. She believes the objective of affordable housing is outside
of the realm of the Downtown URD Board.
Meeting was adjourned at 2:00 pm