South Billings Urban Renewal Board approves $843K TIF for Torgersen's new dealership

The Billings City Council held a regular meeting on April 14, 2025, where significant discussions centered around a tax increment financing (TIF) request for Torgersen's LLC. The proposal involves the development of a new heavy equipment dealership located at 3508 South Frontage Road, with a maximum reimbursement request of $843,502.05.

The meeting began with a presentation by a consultant from the South Billings Urban Renewal Association, who outlined the financial breakdown of the TIF request. The funding will cover various infrastructure improvements, including trail enhancements, curbs, gutters, landscaping, and utility relocations, totaling approximately $843,502.05. The project is expected to generate an annual property tax revenue of about $118,426 and create 12 full-time jobs, along with over 50 construction jobs.

Council members expressed concerns regarding the financial implications of the TIF request, particularly about the availability of funds for future projects. The consultant assured the council that there would still be sufficient resources available for other initiatives, including potential funding for a court complex and a swimming pool.

Council Member Kennedy voiced strong support for the project, emphasizing its economic benefits and the significant investment of over $13 million in the local area. He made a motion to approve the TIF request, which was seconded by Council Member Rogers. The motion prompted further discussion, with council members seeking clarification on previous funding approvals and the overall financial health of the TIF district.

After thorough deliberation, the council unanimously approved the TIF assistance for Torgersen's LLC, marking a pivotal step in advancing the development project. The approval reflects the council's commitment to fostering business growth and revitalizing the South Billings area.

In conclusion, the meeting highlighted the council's focus on economic development through strategic financial support for local businesses, while also addressing concerns about fiscal responsibility and future funding needs. The next steps will involve the implementation of the approved TIF assistance as Torgersen's LLC moves forward with its development plans.