March 24 @ 7:30 AM
The goal of the Urban Renewal District is to eliminate blight through growth of the taxable value of property. The Downtown Billings Partnership Board, along with the City of Billings, have prioritized mixed-use development and housing, although all application-types are considered within the guidelines of the Urban Renewal Plan
Generally speaking, the N. 27th St. District may be used for building stabilization and repair (roof replacement, façade restoration or repair, signs and/or awnings visible from the sidewalk, sidewalk repair or replacement, change of use code requirements, demolition of blighted structures, relocation of occupants, off street parking, storm sewer installation, electrical lines, waterlines, communication lines, natural gas lines, exterior lighting, equipment and/or fixtures reducing, preventing or eliminating pollution) and/or Land Acquisition costs related to an Urban Renewal project.
If, after reading through the Urban Renewal Assistance Program document available below, you believe your project to be a good candidate for Urban Renewal Assistance, you can begin the process by emailing our Development Director with the requested information in the document. An email link is provided below.
The Downtown Billings Partnership (DBP) is the managing company, by contract with the City of Billings, to manage Urban Renewal financing. The DBP Board of Directors works to directly oversee the work of the Development Director, and funds are regularly monitored by the City Finance Department. Large funding projects must also receive approval from City Council.
Tax-Increment Financing is not an additional tax to property owners, but instead, a portion of the determined collected property taxes within the district are set aside for the sole purpose of reinvesting in growing and developing the district.
The most urban city in 500 miles, Billings MT is a growing community of business, culture, and lifestyle.