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RESOLUTION NO. 08-I8766 A RESOLUTION RELATING TO THE MODIFICATION OF THE URBAN RENEWAL PLAN oF THE NoRTH z7T" STREeT URBAN RENEwAL AREA; CALLING A PUBLIC HEARING oN THE PROPOSED EXPANSION OF THE NORTH ZZffi STREET URBAN RENEWAL AREA AND THE PROPOSED ADOPTION OF A MODIFIED URBAN RENEV/AL PLAN INCLUDING A TAX INCREMENT PROVISION. WHEREAS, under the provisions of Montana Code Arurotated, Title 7, Chapter 15, Parts 42 arà 43, as amended (the "Act"), the City of Billings, Montana (the "City'') is authorized, among other things, to create urban renewal areas; to prepare,'adopt and modi$ urban renewal plans; to undertake urban renewal projects therein; to provide in such plans for the segregation and collection oftax increment with respect to property taxes collected in such areas; to issue its bonds to pay all or a portion ofthe costs ofsuch projects; and to pledge to repayrnent ofthe bonds the tax increment and other revenues derived from the u¡ban renewal projects. WHEREAS, this Council desires to conduct a public hearing on a proposal to modify the North 27tr' Street Plan by adopting the Urban Renewal Plan of the Expanded North 27'n Street District Urban Renewal Area - 2008 C'Modifieà pfun'1, and amending the boundarie. ìf th" North 27tr' Street District Urban Renewal Area (hereinafter the "2008 Expansion Property") and adding said 2008 Expansion Property to the North 27th Street District, thereby establishing a modified urban renewal area to be designated as the Expanded North 27th Street District Urban Renewal Area - 2008 (hereafter the "Expanded North 27"' Sheet District - 2008" or "the District"), and to undertake urban renewal projects therein, all as authorized by the Act. WHEREAS, an opporfunity has been presented to the City that makes it desirable for the City to consider urban renewal projects *ithi.t th" E*panded North 27'h Street District - 2008 consisting of demolishing certain blighted structures within the district; improving such properties with new construction, landscaping, utilities, and other similar improvements; and making the properties so improved available for private redevelopment in accordance with the Act (the "Projects"). DeveLopment proposals to be considered for funding will include mixed-use facilities. The Projects couid also include building renovations and the construction or expansion of City owned parking structures within the District. The Projects may be financed in part from the proceeds of tax increment urban renewal bonds (the "Bonds). WHEREAS, the Dishict is legally described on the attached Exhibit A (which is hereby incorporated in this resolution and made a part hereof). In order to provide the public support deemed necessary to enoowage the redevelopment of the District by private enterprise through the undertaking of Projects, which are proposed to be financed in part through tax increment generated from the District, it is necessary to add the 2008 Expansion Propefy to the North 27lh Street District to establish a modified urban renewal area under the Act. WHEREAS, as a condition to approving an Ordinance to add the 2008 Expansion Property to the North 27tl' Street District, the Act requires that a public hearing be held after appropriate notice to consider the proposed Ordinance, and this Council wishes to provide such notice by virtue of the present Resolution. WHEREAS, the Modified Plan contains a tax increment provision and it is proposed that the tax increment derived from the District be segregated and applied to pay costs ofProjects or be pledged to secure the Bonds that the City will issue to finance a portion of the costs of the Projects, as provided in Sections 7-15-4282 through 7-15-4293 ofthe Act. NOW, THEREFORE, the City Council of the City of Billings, Montana, declares and resolves as follows: 1. Public Hearing. A public hearing is hereby called and shall be held on November 24,2008 at 6:30 p.m. in th" Corl*il Chu*b ers at iZO N. 27th Street, on the expansion and modification of the North 27tl' Sheet 'Oirtri"t to establish the Expanded North 27tr' Street District - 2008, the adoption of the Modified Plan, the undertaking of the Projects, and the issuance of the Bonds to finance a portion of the costs thereof. 2. Determination of blight. A requirement of the Act is to justifiT creating an urban renewal area through the determination of blight. Blight is defined as an area that is conducive to ill health, transmission of disea-Je, infant mortality, juvenile delinquency, and crime; substantially impairs or arrests the sound growth of the city or its environs; retards the provision of housing accommodation; or constitutes an economic or social tiaùility or is detrimental or constitutes a menace to the public health, safety, welfare, and morals in its present condition and use, by reason of: ---PAGE BREAK--- a) the substantial physical dilapidation, deterioration, age obsolescence, or defective conskuction, material, and arrangement of buildings or improvements, whether residential or nonresidential; inadequate provision for ventilation, light, proper sanitary facilities, or open spaces as determined by competent appraisers on the basis of an examination of the building standards of the municipality; inappropriate or mixed uses of land or buildings; high density ofpopuiation and overcrowding; defective or inadequate street layout; faulty lot layout in relation to size, adequacy, accessibility, or usefulness; excessive land coverage; unsanitary or unsafe conditions; deterioration of site; diversity of ownership; tax or special assessment delinquency exceeding the fair value ofthe land; defective or unusual conditions oftitle; improper subdivision or obsolete platting; the existence ofconditions that endanger life or property by frre or other causes; or any combination of the factors listed above Much of the 2008 Expansion Propefy is blighted or contributes to blight in the area. Within the proposed District there is substantial building and public improvement deterioration, land vacancy or underutilization and obsolete platting. Some of the commercial buildings are vacant and/or deteriorated. Sidewalks and curbs need replacement and alleys are deteriorated. Public parking in areas that are most appropriate for redevelopment is inadequate. Most of the lots are 25' by 140' and are undersized for modern buildings. Diversity of ownership prevents cohesive and comprehensive redevelopment. 3. Intent to Create an Urban Renewal Area with Tax Increment Authority. Pursuant to the Act and considering the blighted conditions cited above, the City Council declares its intention to expand the N. 27'r' Street Tax Increment District and that public improvements that will stimulate private investment in the area may be financed in part through tax increment generated from the District, subject to a public hearing and adoption of the draft urban renewai plan by ordinance. 4. Form of Notice. The notice of the public hearing shall be in substantíally the following form: NOTICE OF PUBLIC HEARING NOTICE IS HEREBY GIVEN that the City Council (the "Council") of the City of Billings, Montana (the "City") will hold a public hearing on.November 24, at 6:30 p.m., M.S.T., at the City Council Chambers in the City Hall/Police Facility, 220 N. 27'n Street, Billings, Montana, on the proposed addition of property to the existing North 27"' Street District Urban Renewal Area to. form the Expanded North 27th Street District Urban Renewal Area - 2008 (hereafter the "Expanded North 27'n Street District - 2008"); the adoption of a modified urban renewal plan containing a tax increment provision; and the approval ofurban renewal projects to encourage the private redevelopment of such property, to be financed in part by the issuance of urban renewal bonds of the Cífy, all in accordance with Montana Code Arurotated, Title 7, Chapter 15, Parts 42 and 43, as amended (the "Act"). In general terms the proposed Expanded North 27th Street District property and the district would have the following iegal description: Beginning at a point at the intersection of the centerlines of 6th Avenue North and North 31.'t St. proceeding east along the centerline of 6th Ave. North to a point at the intersection of the centerlines of 6th Avenue North and N. 22n" Street proceeding south along ihe centerline of North 22"d Street, crossing the centrally assessed Burlington Northern RaÍlroad property, to a point at the inter:section of South 22no Street and Minnesota Avenue proceediing west along the.centerline of Minnesota Avenue to a point at the intersection of Minnesota Avenue and South 23to Street proceeding south along the centerline of South 23td Street to a point at the intersection of South 2i'd Street and lst Avenue South proceeding west along the centerline of 1" Avenue South to a point at the intersection ofthe centerlines of l't Avenue South and South 31't Street proceeding north along the centerline of South 3ltt Street, crossing the centrally assessed Burlington Northern Railroad property, to the starting point at the intersection North 31't Street and 6th Avenue North encomp"r.iog all parcels and tax codes therein. Interested persons may appear and will be heard at the public hearing at the time and place stated above or they may file written conìments with the City Cierk prior to the date of such hearing. Further information 2008 would include downtown ilrt ---PAGE BREAK--- regarding the proposal, including a draft of the modified urban renewal plan and the proposed adopting ordinance, is on fiie and available for public inspection in the office of the City Clerk at City Hall. Further information regarding the proposal may also be obtained from Assistant City Administrator Bruce McCandless by cal ling 406 -6 57 -8222 or emailing [EMAIL REDACTED]. Dated: November 10, 2008 Publication Dates: November 13, 2008 November 20, 2008 5. Publication and lr4ailing of Notice. The City Clerk is hereby authorized and directed to cause notice of the public hearing, substantially in the form set forth in Section 2, to be published ín ttre Billings Times at ieast once a week for two consecutive weeks prior to the date set for the hearing, the first such notice being given at least ten (10) days before the date ofthe hearing, excluding the date ofpublication, and to mail notice of such hearing not less than 10 days prior to the date of the hearing to the persons whose names appear on the county treasurer's tax roll as the owners, reputed owners, or purchasers under contract for the deed of the Property, at the addresses shown on the tax roll. APPROVED AND PASSED by the City Council of the City of Billings this 1Oth day of November, 2008. /#st-dÍó;,1 Hffi$ CITY OF BILLINGS: ATTEST: BY: 0tnihnørn) Cari Martin. Citv Clerk ---PAGE BREAK--- V JIgIIÐ(g