The Billings Industrial Revitalization District (BIRD) Board of Directors is presenting this recommendation to the City Council for allocating $36,000 in tax increment finance funds (TIF) from the East Billings Urban Renewal District (EBURD) to provide financial assistance to Trent Currie for demolition of two derelict residential properties at 217 North 20th Street. The applicant is requesting TIF funding to demolish two residences on the property and prepare the site for future redevelopment. The costs include the demolition of the structures and filling and grading of the site so it is ready for new development. These expenses are eligible as per Section 7-15-4233 (i)(n), MCA and Section 7-15-4288 (2), MCA.

The BIRD Board of Directors voted to support funding of this application at its meeting on June 11, 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 $36,000 to be reimbursed to Trent Currie only upon completion of the demolition and submittal of the invoices for the cost incurred. There is $100,000 in the FY20 EBURD miscellaneous projects budget for payment of TIF assistance, so there is budget available for this project if it is approved by the City Council.
 

The Billings Industrial Revitalization District (BIRD) Board of Directors recommends that the City Council approve reimbursement of $36,000 from the EBURD tax increment finance district funds to Trent Currie for demolition of two residences for future redevelopment.