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Commission Approves TIF District 2025–26 Plan with $450,647 Estimated Revenue
Summary
The Commission approved the Tax Increment Finance District annual plan for FY2026, estimating $450,647 in tax increment revenue and prioritizing infrastructure and private property investments; Snowy Mountain Development Corporation remains administrator.
The Lewistown City Commission approved the FY2026 annual plan for the Tax Increment Finance (TIF) District at the Aug. 18 meeting.
City Manager Nikki Phelps told commissioners the TIF board approved an estimated tax revenue of $450,647 for fiscal year 2026 (tax levies are not yet finalized) and outlined the recommended allocations: 1% for Snowy Mountain Development Corporation (SMDC) and management expenses, 25% for private property investment, 45% for infrastructure investment, 19% for discretionary opportunities and 10% to reserves.
Phelps said the board will explore revolving loan funds and bonding options to enable larger future projects. Commissioner Spika moved to approve the TIF annual plan; Commissioner Buehler seconded and the motion passed unanimously by roll call. Phelps noted Snowy Mountain Development staff will continue to administer the board.
