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Commission approves amendment to interlocal agreement for Baker's Corner/US Corridor project
Summary
The commission approved Resolution O8-10-2026-01 to amend the interlocal agreement for the US Corridor infrastructure investment (Baker's Corner) to add Hamilton County as a party and reflect updated financing roles and revenue pledges.
The Hamilton Redevelopment Commission approved Resolution O8-10-2026-01 on Aug. 10, 2026 to adopt a first amendment to the interlocal agreement governing the US Corridor infrastructure investment project (Baker's Corner). David, a staff member, introduced the resolution and Dennis Otten, bond counsel with Bozeman Kinney Evans, summarized the changes that would add Hamilton County as a party to the agreement and clarify roles and payment pledges.
Otten said the amendment is necessary because the county will act as issuer for permanent financing and the interlocal must reflect that change. "When we did the financing in 2023, the interlocal agreement was with the regional district, the building corporation, and the redevelopment district. Now with the county being the issuer of the bonds, we need to go ahead and add the county as a party," Otten said. He also described that the agreement reflects a pledge of net utility revenues and a pledge of TIF revenues as payment sources.
The commission moved and seconded the resolution and approved it by voice vote. The resolution advances the administrative steps needed before the county and related bodies proceed with bond issuance and other financing steps for the Baker's Corner utility and related infrastructure.
