In 2008, The Billings City Council created the South Billings Boulevard Urban Renewal District ("the District"), a 1,633-acre tax increment finance district, to remedy blight in South Billings via urban renewal, using tax increment financing as the funding mechanism to do so. The District is situated in South-Central Billings as detailed below:
WHO WE ARE
About 70% of the District's land use is residential and 30% commercial. Most residential areas consist of modest, affordable single family units arranged on smaller lots. Interspersed throughout the District are pockets of multi-family units, manufactured home parks and vacant land. Commercial development along the Interstate and the South Billings Boulevard corridor has increased the District's taxable value significantly; however, infrastructure deficiencies remain problematic in other areas of the District.
WHAT WE DO
MORE ABOUT SBURA
The South Billings Urban Renewal Association (SBURA) is a tax-exempt 501(c)(6) association founded in the State of Montana in 2019. The seven-member Board of Directors consist of three persons who operate businesses in the District, two persons who reside in the District and two persons who reside in the City of Billings but outside the District.
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By Resolution, the Billings City Council recognized SBURA as the advisory body on matters concerning the District administration and tax increment expenditures.