The Downtown Billings Urban Renewal District was created to eliminate blight through growth of the taxable value of property. The Downtown Billings Partnership (DBP) 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.

View Map of the Downtown Urban Renewal District

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feb 2025 DBP board meeting agenda

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View the calendar for upcoming 2025 DBP Board meetings

Current & Future TIF Projects Old Town Flats (new build): Phase one: 36 residential units (currently leasing). 1 commercial space (coming soon). Phase two second tower TBD. Lincoln Apartments: 38 residential units (all occupied). 1 commercial space (occupied). AC Marriots (new build): Locations 2nd Ave. N and N. 27th Street. Start date Spring/Summer 2025. Masonic Temple: 10 residential units. Street level commercial spaces. 3rd floor office/commercial space. Start date Spring/Summer 2025. The Old Billings Hardware Building: 25 energy efficient residential units. 1-4 commercial spaces. Start date Summer 2025. The Futurity Tower (new build): Location, Former Yesteryears building. 120 residential units (projected). First and second floor commercial. Start date Spring 2026.

What Is Tax Increment Financing (TIF)?

A locally-driven economic development tool.

Tax Increment Financing (more commonly referred to as ‘TIF’) is a state-authorized, locally driven funding provision that allows cities and counties to designate a portion of property tax dollars generated within an Urban Renewal District (URD) or Targeted Economic Development District (TEDD). The designated dollars generated by TIF are to be spent on improving economic conditions within or connecting to a specified district. Only that portion consisting of the net increase (increment) in taxable values is reserved for investment in the district. Click to read more.