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Billings council approves TIF funds for city-owned buildings, despite pushback

The article from the Billings Gazette discusses the recent approval of a new Tax Increment Financing (TIF) district in downtown Billings, aimed at revitalizing the area. The TIF district, which spans from Montana Avenue to the Rims and from Division Street to 29th Street, was approved by the Billings City Council. This district will fund several key projects including the renovation of the Babcock Building, the construction of a new hotel, and improvements to the Marquee Building and the Depot. The TIF mechanism allows the city to use the increase in property tax revenue from new developments to finance these projects, with the goal of spurring economic development, enhancing infrastructure, and attracting more business and tourism to downtown Billings. The initiative has been met with optimism by local business owners and city officials who see it as a significant step towards economic growth and urban renewal.

Read the Full Billings Gazette Article at [ https://billingsgazette.com/news/local/business/billings-downtown-tax-increment-financing-district-tif-babcock-marquee-depot/article_050171b6-ac57-11ef-89e9-53d5c57b6a73.html ]