CDS Proje ject T ct Team Big Sky Economic Development Steve - - PowerPoint PPT Presentation

CDS

LOCKWOOD T D TARGET ETED EC D ECONO NOMIC C DEVELOP OPMENT D T DISTR TRICT T STUD STUDY A AREA

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Proje ject T ct Team

Big Sky Economic Development Steve Arveschoug, Dianne Lehm Sanderson Stewart Lauren Waterton, Michael Sanderson Community Development Services of Montana Janet Cornish, Lanette Windemaker Land Designs Stacey Robinson, Kurtis Grow Economic & Planning Systems Brian Duffany, Sean Garvey

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Proje ject S ct Steerin ing C Committe ittee

 John Staley, Lockwood Fire Department  Mike Aritzia, Lockwood Water and Sewer District  Bob Riehl, Lockwood Steering Committee  Tobin Novasio, Lockwood School  Vu Pham, Weave Management  Marshall Knick, Pacific Recycling  Kevin Gustainis, Montana Peterbilt  Terry Seiffert, property owner  Woody Woods, property owner  Nic Talmark, Trane  Scott Walker, City-County Planning  Robin Rude, MT Dept. of Revenue  Tim Miller, Yellowstone County Public Works

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Study dy Ar Area

STUDY AREA BOUNDARY

FINAL BOUNDARY CANNOT INCLUDE PROPERTY OUTSIDE OF THIS STUDY AREA

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Proje ject T ct Timelin line

Pr Pre-wor work

• Industrial

al P Park Feas asibi bilit ity

• Trailhead

ad Commer erce e Park F Feas asibi bilit ity Phas ase 1 1

• Resolutio

ion o

• f

Necessit ity

• Infrastruc

uctur ure e Defici ciency cy Phas ase 2 2

• Comprehe

ehens nsive e De Deve velopment Plan an

• Creat

ation o

• f

TEDD DD Implem emen ent

• De

Deve velopment Plan an

• Financ

nce e Strat ategi gies

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Proje ject O ct Overvie iew

Create planned industrial space for manufacturing and related industries

 Prepare a Comprehensive Development Plan that

can be used by the Yellowstone County Commissioners to evaluate creating a Targeted Economic Development District (TEDD).

 Provide additional development and market

analysis to help attract new industry and create business expansion

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What is is a a T TEDD DD?

Local District to support value-adding economic development activities and secondary value adding industries. A Targeted Economic Development District allows counties to use Tax Increment Financing to support development of infrastructure.

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Tax Inc ncrem ement nt F Fina nancing

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Why ha hy have a e a TE TEDD?

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TE TEDD R Req equirem ement nts

 Must consist of a contiguous area large enough to

host a diversified tenant base of multiple independent tenants.

 Must be zoned in accordance with the current

Yellowstone County Growth Policy

 May not contain any property located within an

existing TIF

 Must be found, prior to its creation, to have

deficiencies in infrastructure

 Must have in place a comprehensive development

plan adopted by Yellowstone County that assures the district can host a diversified tenant base

 May not be designed to serve a single district tenant

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Pl Plan El Eleme ments

1)

Infrastructure analysis

2)

Market Study

3)

Trail Connection

4)

Development Scenarios

5)

Financial Analysis

6)

Preferred Development Scenario

7)

Implementation

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Infra rastructure re A Asses essmen ent

 Road network  Rail  Water  Sewer  Power  Fiber

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Market S Study dy

Forward looking analysis to estimate pace of development in Lockwood TEDD

• Economic conditions
• Market Conditions

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Trail C il Connection tion

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Develo lopm pment nt Sc Scen enario Ex Examples

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Finan ancial A cial Analy lysis is

• Revenue forecast
• Resulting property tax revenue to TEDD
• Estimate financing (“bonding”) capacity
• Finance recommendations

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Preferre rred D d Develo lopm pment nt Example ple

Recommended

• land uses
• property size
• buffer areas
• trail connection
• infrastructure improvements

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Imple lementation tation

How are we going to get this done? Program Administration Work Plan Capital Improvements Recruitment

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Nex ext St Step eps

 Concept Trail Alignment Meetings  Zoning Boundary Adjustment Request  Public Meeting #2 in May  Draft Report in June  Review Process, beginning in July:

 Steering Committee  Big Sky Economic Development Board  Planning Board  County Commission

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More I Infor

• rmation

ation

Visit the website:

http://bigskyeconomicdevelopment.org/lockwood-tedd