Downtown TIF
New Programs Available For Use of Downtown Tax Increment Finance (TIF) District Funds
On July 6, 2021, the Great Falls City Commission adopted Ordinance 3229 which created three programs intended to encourage and support public safety, blight elimination and increased code compliance in the historic Downtown Urban Renewal Area. If you are a downtown building owner and want to see whether your property is located within this renewal area you can view the Downtown TIF District Map.
The Downtown Urban Renewal Area Façade Program opens up TIF financing to assist downtown building owners in the financing of façade renovation efforts. The Façade Improvement Program has been created to encourage the voluntary repair of existing public facing exteriors of commercial buildings within the District. The program provides for up to a $50,000 reimbursement per project for eligible façade renovation activities.
The Life Safety Code Compliance Program is designed to stimulate increased public safety and handicap accessibility improvement projects in the downtown. Due to the historic nature of the downtown building inventory, many buildings do not comply with modern building and fire code standards as well as allow those with physical and mobility impairments the ability to enjoy the great services these buildings provide. The total reimbursement available for each requested project under the Life Safety Code Compliance Program is $75,000.
The Environmental Safety Program works toward the elimination of blight based upon the principles of Crime Prevention Through Environmental Design (Environmental Safety) and other safety and security design principles. Environmental Safety is a set of design principles used to discourage crime and promote building security. It can also be used to create inviting and safe public spaces where people can gather and socialize. The total reimbursement benefit for each project is $5,000.
The City has allocated $500,000 to fund these three new programs. Although each program is designed to promote distinct activities, applicants can simultaneously apply for TIF reimbursements through all three programs to subsidize one project. The total aggregate amount that can be approved for an individual property is $130,000 for one project every 15 years.
One additional and important element of each program is the recognition that unique high impact projects present themselves from time to time. The end result of these projects not only creates job growth within the business itself but also tend to create significant spin-off development and activity in the area in which the project is located. As such, these programs give the City Commission the flexibility to approve reimbursements which exceed the limits contained in these programs. All other projects that fall within the program reimbursement limits will be processed by staff from the Planning and Community Development Department.
The City of Great Falls is excited about implementing these new programs to continue the revitalization efforts being made to make Downtown Great Falls more vibrant than ever. Please review the three programs to see which ones might fit your upcoming project. For more information you can view the TIF Building Program Application.
