The Tax Increment Finance Advisory Board approved updated application criteria for the North Park Tax Increment Finance Assistance Program, incorporating changes designed to clarify the program's intent and encourage development aligned with city plans.
Economic Development Manager David Fine presented the revised criteria, which reflected feedback from board members received during an earlier review. Key changes included increasing point values for value-adding industries—those involving traded sector employment, manufacturing, and construction—to better encourage projects utilizing public infrastructure. The criteria also more clearly defined public-private partnerships as projects initiated by developers that implement goals from adopted city plans, such as the climate plan or parks and trails plan, rather than only the urban renewal plan.
Fine noted the criteria had been simplified to use standardized point values in increments of five and ten. He acknowledged that without having received any applications under the new criteria, the board could not yet assess how the changes would affect project selection. Board member Julien Morice noted that such criteria typically require real-world testing and adjustment over time. Fine confirmed that any amendments to the criteria would follow the same process: board discussion and recommendation, followed by City Commission adoption by resolution.
Board member Mike Waterman asked whether applications over $50,000 would return to the advisory board for review before going to the City Commission. Fine confirmed they would. After brief discussion and no public comment, a motion to recommend approval was made and seconded. The criteria approved unanimously.
The meeting also included a special presentation by Mike Veselik, Assistant Vice President for Federal Relations and Economic Development at Montana State University, detailing the MSU Innovation Campus development within the South Bozeman Technology District. The presentation sparked public comment regarding Department of Defense funding and tenant selection, with board members clarifying the TIF board's limited role in dictating tenancy or imposing political criteria on private developments.