City approves $150,000 of tax increment financing funds for storm drain project
The city has approved using $150,000 of tax increment financing funds for storm drain master plans and engineering design in the Central Montana Agri-Tech Park, which includes Malteurop and ADF.
The storm drain project will also cover properties east of Black Eagle Road.
The city has been working with TD&H to complete the designs for the storm drainage network in the area as part of the TIF district’s capital improvement plan.
The storm drainage network is the last remaining major utility to be installed since sanitary sewer utility and street installations for the area were completed in earlier phases in 2014.
The system will help protect properties from damage and serve future developments, according to city public works. Future extensions can serve several hundred acres to the west and north of the current CMATP. The proposed alignment will begin on the east side of Highway 87, extending to a point east of Black Eagle Road, generally following the exiting natural drainage.
Storm water will initially enter the storm drain near the culvert at Highway 87. Inlet structures along the alignment will capture additional runoff and move water to the east, paralleling existing utilities and minimize utility crossings and encumbrance to the land.
This phase of the storm drain project will finalize designs and construction documents with costs estimated. Easements and permits for the proposed alignment will be finalized and acquired.
Once the final engineering plans are completed and construction costs determined, an additional request for TIF funding will be submitted for construction.
The current projected balance of the CMATP tax increment fund is $911,070 as of June 30.
The project was not projected for the Fiscal Year 2019 budget and the expense will leave about $761,070 in the fund, not including other revenues or expenses.
During the July 3 City Commission meeting, Mayor Bob Kelly said, “This is a great example of what TIF funds are for.”
The proposed schedule for project completion is as follows:
- TIF Funding approval for engineering design July 3
- Engineering Contract commission approval July 17
- Design completion Oct. 31
- Application for additional funding/financing November–January 2019
- Easement acquisition November–January 2019
- Permitting January-March 2019
- Construction Bidding/Award February-March 2019
- Begin Construction May-June 2019