The Billings Industrial Redevelopment Assoc. desires to construct streetlights within the East Billings Urban Renewal District (EBURD). Streetlights will be installed on most of the streets from North 10th Street to North 22nd Street and Montana Avenue to 6th Avenue North.  Attached is a district boundary showing the streets that will have streetlights installed. In order to install these improvements, it becomes necessary to create a Special Improvement District (SID). The cost of the installation will be assessed to all of the properties with frontage along the streets to receive streetlights. 

This SID is in conjunction with a larger project W.O. 18-06 which will reconstruct the streets between North 10th Street and North 13th Street and 1st Avenue North and 4th Avenue North. 

The Council may:

• Approve the Resolution of Intent to Create SID 1405, and set a public hearing date of March 26, 2018; or
• Not approve the Resolution of Intent to Create SID 1405.  If not approved, streetlights will not be installed at this time.

The total estimated costs of the streetlight improvements are $1,868,000, which will be paid from SID bonds and assessed to the properties within the SID boundary.  WO 18-06 is estimated to be $4,500,000.  The total cost of the streetlight SID and W.O. 18-06 is $6,368,000 which will be paid out of the following funds:
 

SID Bonds	$1,868,000
Sanitary Sewer Funds	$   400,000
TIF Funds	$4,100,000

 

Staff recommends that Council approve the Resolution of Intent to Create SID 1405, and set a public hearing date of March 26, 2018.