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Commission approves additional TIF funds for 420 1st Ave S replacement project
Summary
The commission approved Resolution No. 4208 to provide additional Tax Increment Financing (TIF) for demolition, utility upgrades and landscaping at 420 1st Ave S; the TIF board recommended the application and commissioners said the work will improve taxable value in the district.
The Lewistown City Commission approved Resolution No. 4208 to grant additional Tax Increment Financing (TIF) assistance to Rayce Townsend for work at 420 1st Ave S. City Manager Holly Phelps said Townsend has used TIF previously on an adjacent property, has demolished the old structure and is now replacing it; the requested funds are intended for demolition costs, utility upgrades and landscaping. The TIF board reviewed the application and recommended approval.
Commissioner Robertson commented the project will be a "significant improvement for the taxable value in the district." The resolution passed by unanimous roll call. The packet provided to commissioners included a list of existing TIF projects; no dollar figure for this additional request was specified in the transcript.
