North Reserve-Scott Street Urban Renewal District Boundary Amendment

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City Council adopted the Ordinance amending the NRSS URD Plan on May 23.  The Ordinance became effective on June 22, 2022.

Background:

Diversified Plastics, Inc. is located at 3721 Grant Creek Road. The property owner, Diversified Real Estate, LLC, owns three parcels at this address that were annexed into the City in December 2021. Diversified Real Estate, LLC requested that the property be included in the North Reserve-Scott Street Urban Renewal District (NRSS URD District) to access Tax Increment Financing (TIF) to support future business expansion and related public infrastructure improvements. Diversified Plastics, Inc. expects to expand their current building footprint and build a new building, which will add property tax value. A portion of the property taxes will flow to the NRSS URD to be invested back in the District. After closure of the District, these property taxes will be dispersed to the taxing jurisdictions, including the City of Missoula. A similar boundary amendment was approved in 2015, adding the Consumer Direct and Bretz RV properties into the NRSS URD. A public hearing and City Council approval is required for the Urban Renewal Plan amendment.


Alignment with City Growth Policies and the NRSS District Plan:

Chapter 5 of the NRSS URD Plan states, “The City Council may modify and amend the Plan, including modifications and amendments to designate and approve certain urban renewal projects, by enacting an ordinance providing for and setting forth the modification and amendment.” Expansion of the NRSS URD boundary is consistent with several goals and strategies in the City’s Growth Policy and the NRSS URD Plan, including

• Goal 1, Capital Projects: Support the inclusion of newly annexed properties into the North Reserve-Scott Street Urban Renewal District.

• Chapter 3, Economy Goals and Objectives: Develop infrastructure to accommodate present development and plan infrastructure to meet the needs of anticipated growth.

• Goal 4, Capital Projects: Improve key transportation corridors, both visually and physically.

• Goal 5, Capital Projects: Support rehabilitation of commercial and industrial properties to increase employment and expansion of mixed-use opportunities.


Proposed Amendment Schedule:

May 9: City Council to consider adoption a resolution and preliminarily adopt the ordinance; schedule a public hearing

May 9-22: Notice to the public and taxing jurisdictions of the hearing (mailings and newspaper ads)

May 23: Public hearing and opportunity for Council to take action

June 22: Ordinance is effective, if Council takes action on May 23

June 23: Submit package to Montana Department of Revenue


Background:

Diversified Plastics, Inc. is located at 3721 Grant Creek Road. The property owner, Diversified Real Estate, LLC, owns three parcels at this address that were annexed into the City in December 2021. Diversified Real Estate, LLC requested that the property be included in the North Reserve-Scott Street Urban Renewal District (NRSS URD District) to access Tax Increment Financing (TIF) to support future business expansion and related public infrastructure improvements. Diversified Plastics, Inc. expects to expand their current building footprint and build a new building, which will add property tax value. A portion of the property taxes will flow to the NRSS URD to be invested back in the District. After closure of the District, these property taxes will be dispersed to the taxing jurisdictions, including the City of Missoula. A similar boundary amendment was approved in 2015, adding the Consumer Direct and Bretz RV properties into the NRSS URD. A public hearing and City Council approval is required for the Urban Renewal Plan amendment.


Alignment with City Growth Policies and the NRSS District Plan:

Chapter 5 of the NRSS URD Plan states, “The City Council may modify and amend the Plan, including modifications and amendments to designate and approve certain urban renewal projects, by enacting an ordinance providing for and setting forth the modification and amendment.” Expansion of the NRSS URD boundary is consistent with several goals and strategies in the City’s Growth Policy and the NRSS URD Plan, including

• Goal 1, Capital Projects: Support the inclusion of newly annexed properties into the North Reserve-Scott Street Urban Renewal District.

• Chapter 3, Economy Goals and Objectives: Develop infrastructure to accommodate present development and plan infrastructure to meet the needs of anticipated growth.

• Goal 4, Capital Projects: Improve key transportation corridors, both visually and physically.

• Goal 5, Capital Projects: Support rehabilitation of commercial and industrial properties to increase employment and expansion of mixed-use opportunities.


Proposed Amendment Schedule:

May 9: City Council to consider adoption a resolution and preliminarily adopt the ordinance; schedule a public hearing

May 9-22: Notice to the public and taxing jurisdictions of the hearing (mailings and newspaper ads)

May 23: Public hearing and opportunity for Council to take action

June 22: Ordinance is effective, if Council takes action on May 23

June 23: Submit package to Montana Department of Revenue