The Billings Industrial Revitalization District (BIRD) Board of Directors is presenting this recommendation to the City Council for allocating $42,417.70 in tax increment finance funds (TIF) from the East Billings Urban Renewal District (EBURD) to provide financial assistance to Red Oxx Manufacturing/Mazabuka LLC for improvements in building a community event space. The  "Red Oxx Events Lawn" project is located at the southwest corner of the intersection of 4th Avenue North and North 13th Street in the EBURD. The space is designed to provide an organized rentable venue for special events in the District. The site could host musical, art and theater oriented events and activities for the community and is intended to bring people to the EBURD and generate further interest and economic activity in the District. The applicant is requesting TIF funding to complete portions of the event area development, including landscaping in the right-of-way and within the event area, reconstruction of sidewalk and an alley approach along the property boundary, and irrigation systems and site preparation work. These expenses are eligible as per Section 7-15-4233 (m)(n)(i), MCA and Section 7-15-4288(4), MCA.

The BIRD Board of Directors voted to support funding of this application at its meeting on April 9, 2019, under its authority per the Memorandum of Understanding between the City of Billings, Big Sky Economic Development, and the BIRD, Inc. recently renewed and approved by the City Council on May 13, 2019.

↵The City Council is the final authority in disbursing TIF funding. This proposed use of TIF funds appears to conform to the City's TIF Policy. The City Council may:

• Approve the recommendation from the BIRD Board for the expenditure of these TIF funds, or;
• Disapprove the recommendation from the BIRD Board for the expenditure of these TIF funds.

The request is for a total of $42,417.70 to be reimbursed to Red Oxx/Mazabuka, LLC only upon completion of the project and submittal of the invoices for the cost incurred. There is funding in the FY19 EBURD project budget for payment of TIF assistance. However, a budget amendment for FY19 may need to follow this action, if approved by the Council, to include this specific expenditure.
 

The Billings Industrial Revitalization District (BIRD) Board of Directors recommends that the City Council approve reimbursement of $42,417.70 from the EBURD tax increment finance district funds for development of the Red Oxx event space project.