The South Billings Urban Renewal Association (SBURA) is recommending that the City Council approve $5,000.00 in tax increment funds from the South Billings Boulevard Urban Renewal District (SBBURD) for a contribution for a Big Sky Trust Fund Planning Grant Application for the Yellowstone County Sports Facility Feasibility Study. The contribution of TIF funds was approved by the SBURA Board of Directors at its June 6, 2017 Board of Directors meeting. The feasibility study is a collaboration between SBURA, VisitBillings, Beartooth RC&D, Laurel Aquatics & Recreation, Laurel Urban Renewal Agency, and Big Sky Economic Development. The TIF contribution is in compliance with the South Billings Master Plan and Montana Urban Renewal Law as it relates to the planning or study of a potential sports or community center facility that might be located in the District.

The purpose of the study is to determine the feasibility of a large indoor sports facility located in Yellowstone County. The potential project would be beneficial as an economic development tool to stimulate and attract further development in South Billings. The project is a collaboration between multiple parties and is leveraging available state funding. The Montana Department of Commerce has awarded the funds and the study is moving forward with contractor selection at this time.
 

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 did find that this TIF contribution is in compliance with its South Billings Master Plan and Montana Urban Renewal Law as it relates to the planning or study of a potential sports or community center facility that might be located in the District.

The application commitment specifies a one-time payment of $5,000.00. The funds are payable on completion of the study. 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 this study. However, a budget amendment may be needed at a future date to specify this project's funding in the FY18 budget.

The South Billings Urban Renewal Association Board of Directors recommends that the City Council approve a $5,000.00 grant from the South Billings Boulevard Urban Renewal District tax increment district funds as a contribution to the collaborative Yellowstone County Sports Facility Feasibility Study.