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Missoula Parking Commission adopts FY 2026 budget; approves $3.49M CIP for Bank Street repair
Summary
The commission adopted the fiscal year 2026 budget, approved capital requests including a $3.49 million Bank Street garage repair CIP, and heard financing guidance recommending a 20-year wrap bank structure.
The Missoula Parking Commission adopted its fiscal year 2026 budget, approved capital requests including a $3,490,000 updated CIP for Bank Street garage repairs, and authorized moving forward with next steps to finalize financing.
Jody, the commission director, presented the proposed FY 2026 budget and CIP requests. The commission approved the budget by voice vote (three members present), with no public comments recorded on the motion.
Steve, a financial advisor with MCAT, summarized financing scenarios for the project and recommended pursuing a 20-year "wrap" structure with a private bank solicitation. Steve said the 20-year wrap "provides good flexibility. It keeps costs down overall," while balancing repayment flexibility and…
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