Regular 6.
Regular City Council Meeting
- Meeting Date:
- 01/09/2012
- TITLE
- Downtown Tax Increment District Funding for Trolley/Shuttle Study
- PRESENTED BY:
- Bruce McCandless
- Department:
- City Hall Administration
Presentation:
Information
PROBLEM/ISSUE STATEMENT
The Planning Department, MET Transit, the Downtown Alliance and downtown business and property owners formed a committee to study the feasibility of establishing a trial or test for a downtown public transportation shuttle/circulator. This type of public transportation service was suggested by the 1998 Downtown Framework Plan and repeated in subsequent plans and plan amendments. MET proposes to fund 60% of the estimated $20,000 study cost ($12,000) and the Downtown Billings Partnership (DBP) recommends committing $8,000 of downtown tax increment financing to provide full funding for the project. The study would be conducted by LSC Transportation Consultants, the company that the City contracts with to perform most of its MET route and schedule studies. A detailed description of the tasks is attached. According to the DBP agreement, any program expense over $50,000 and all new programs require City Council approval.
ALTERNATIVES ANALYZED
The City Council may:
- Approve the $8,000 tax increment financing request
- Disapprove the request
FINANCIAL IMPACT
$8,000 would be committed to the project out of the estimated $1.7 million of fund revenue in tax year 2011. The appropriation should not negatively impact other planned projects.
RECOMMENDATION
The Downtown Billings Partnership Board of Directors recommends that the City Council appropriate $8,000 of downtown tax increment financing to the downtown shuttle/circulator study.