Billings enters the design phase for a downtown street conversion project

Designs for a downtown Billings makeover are underway. A big part of the project includes a traffic conversion from 1-way streets to 2-way streets that are safer for pedestrians and better for commerce. What’s especially interesting is how Billings plans to pay for the improvements; it’s with a Tax Increment Financing District (TIF).

Why does it matter in Minot? We’re also using TIF districts, but with a much different approach. Thus far, Minot’s TIF projects have been limited to properties controlled by a single developer. Billing’s approach is to create a large district and use the district-wide tax increments to pay for infrastructure and other improvements throughout the district.

This article was sourced from:

Ty McDuffy, Billings Gazette

Source

Josh Wolsky

Developer & Writer @TheMinot Voice, Fan of the Souris River, There's a lot to Savor about Minot. Fortunate to be a 'former' City Council member ;)

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