Consent 1.C.
Regular City Council Meeting
- Meeting Date:
- 09/25/2017
- TITLE
- SBURA TIF Fund Request for Ponderosa School - Fencing and Security Gate Project
- PRESENTED BY:
- Wyeth Friday
- Department:
- Planning & Community Services
Presentation:
No
PROBLEM/ISSUE STATEMENT
The South Billings Urban Renewal Association (SBURA) Board is recommending that the City Council approve $27,296.22 in tax increment from the South Billings Boulevard Urban Renewal District (SBBURD) for the installation of fencing and security gates at Ponderosa Elementary School. The application for TIF Assistance was approved by the SBURA Board of Directors at its August 1st, 2017 board meeting. The TIF eligible improvements include the installation of fencing and security gates. Ponderosa Elementary School is a publicly owned building, thereby making any improvements to the property eligible for the investment of TIF funds.
This project is a collaboration between Ponderosa School and SBURA. The recently installed Ponderosa Trail has allowed for greater access to the property. Some security and control issues have come about around the school playground and will be mitigated by the installation of this fencing and additional security gates. In addition, the open areas of the school playground and property will be fenced off from an irrigation ditch on the east side of the property.
This project is a collaboration between Ponderosa School and SBURA. The recently installed Ponderosa Trail has allowed for greater access to the property. Some security and control issues have come about around the school playground and will be mitigated by the installation of this fencing and additional security gates. In addition, the open areas of the school playground and property will be fenced off from an irrigation ditch on the east side of the property.
ALTERNATIVES ANALYZED
City Council may:
- Approve the recommendation from the SBURA on the expenditure of these funds, or;
- Disapprove the recommendation from the SBURA on the expenditure of these funds. The SBURA Board has found that this project is eligible under the TIFD law and will support the safety of students at Ponderosa Elementary School.
FINANCIAL IMPACT
The attached Development Agreement specifies a one-time payment of $27,296.22 to Ponderosa Elementary School as part of the SBURA TIF Application Program. The funds are payable on completion of the fencing project. The beginning fund balance in the South Billings Boulevard Urban Renewal District tax increment district budget is about $7.7 million for FY18, so there are adequate funds available for the project. However, a budget amendment may be needed at a future date to specify this project's funding in the FY18 budget.
RECOMMENDATION
The South Billings Urban Renewal Association Board of Directors recommends that the City Council approve a $27,296.22 grant from the South Billings Boulevard Urban Renewal District tax increment district funds to assist Ponderosa School with this fencing project and execution of the attached Development Agreement for the project.