BILLINGS - Two Billings nonprofits, steeped in the city’s history, are going to get some much-needed help for repairs after all.
Monday night, the Billings City Council approved TIF funding for the Babcock Theater and for the Billings Depot.
The council voted 9-2 to provide up to $300,000 in TIF funding for the Art House, which operates the Babcock. The majority of that money, around $250,000, will be used for repairs to the marquee. Another $30,000 will go toward a new boiler.
“This is just huge for the Babcock and for the Art House. We just want to continue doing the work to keep this beloved historic theater safe and comfortable and open for the community so that we can keep offering great film and culture to our city,” says Art House Operations Director Nicole Shreiner.
The historic theater, which was built in 1907 is also in need of repairs to the projection booth.
TIF stands for tax-increment financing, which is reserved for improvements to blighted areas in town. The money is generated from increases in taxable properties within a city, and then granted to projects that improve the area.
The City Council also voted 9-0 to provide the Billings Depot with $75,000 in TIF funding. This will allow the Depot to take advantage of a $414,000 historic preservation grant that can be used for numerous repairs.
“We spend a lot of time and effort and resources maintaining the campus, and that’s why we undertake one major project every year and with the help of the grant and TIF funds we are lucky that we can now take on a bunch of those projects all at once,” says Michelle Williams, Billings Depot executive director.
Mayor Bill Cole says the City Council also learned that the Depot pays about $17,000 in taxes each year, which will help replenish the Downtown TIF funds.
Cole calls the building critical to the Billings community - historically, culturally, and economically.
“That injects millions of dollars into our downtown economy. How many restaurants wouldn’t exist if we didn’t have the Babcock and the Depot,” he says.
