The creation of a Targeted Economic Development District
(TEDD) allows for the enactment of Tax Increment Financing (TIF). TIF is a state authorized, locally driven
funding mechanism that allows cities and counties to direct property tax
dollars that accrue from new development, within a specifically designated
district, to community and economic development activities. The proposed TEDD has infrastructure
deficiencies that have been identified which limit the potential for new
investment. In order to include
properties within a TEDD, they must be properly zoned and be in conformance
with the Butte-Silver Bow Growth Policy.
The map above shows the current zoning and the proposed TEDD Boundaries
based upon the Light Industrial Zoning designation. The boundaries are proposed and we are
looking for additional input before a final decision is made.