The Downtown Billings Partnership (DBP) Board recently considered five new projects for the N. 27th Street Tax Increment District (TID) that total $21,000.  Even though these projects are low cost, the agreement with the DBP is that any new projects must be approved by the Council before funds may be expended on them.  The Council is being asked to approve this list of five new downtown projects that will be funded by the TID.  Budget authority for the entire proposed FY 2010 project budget of $75,000 and other incurred expenses is contained in the first quarter budget amendment.  Even if Council authorizes the total project budget of $75,000, the Council will be asked to approve each new, individual project as the DBP develops and submits them.   

The City Council may:

• Approve the proposal;
• Deny the proposal; or
• Modify and approve the proposal

Council previously approved the DBP operating agreement for $98,580 and four projects with a cost of $20,000.  If Council approves these five new projects for $21,000, the DBP will have $34,000 available for additional projects later in the year ($75,000 - $20,000 - $21,000 = $34,000).  The requested FY 2010 first quarter budget amendment establishes budget authority for these expenses and other incurred costs that total $24,000.