While Butte’s Opportunity Zone has seen lots of economic ups and downs, one thing that has remained constant is Butte-Silver Bow’s (BSB) commitment to the revitalization of the area.
BSB has utilized a provision in Montana Code Annotated called Urban Renewal. This law allows the local Revitalization Agencies to use private and public resources to: eliminate and prevent the development or spread of blighted areas, encourage needed urban rehabilitation, and initiate feasible municipal activities to achieve the objectives of the program including but not limited to land-use provisions, public improvements, rehabilitation requirement and urban design controls.
Butte-Silver Bow also utilizes Tax Increment Financing (TIF). TIF is the amount of tax collections due from a taxable value of property within the designated district, which over and above the base taxable value as established in the year the tax increment provisions were adopted. Broadly defined, TIF is a method of using private redevelopment to support public redevelopment, thereby making more private investment possible.
Development in Butte
Uptown Butte is characterized by densely developed streetscapes of the late nineteenth and early twentieth-century architecture. Multi-story commercial buildings, boarding houses, worker cottages, and apartment dwellings huddle together with steel headframes and other mining structures, remnants of deep copper mining activity. In combination, these elements create a unique urban center in what is otherwise an essentially rural region.
Key Projects in Butte's Opportunity Zone:
Along with the investment potential of the Butte opportunity zone additional grant funds are available to incentivize projects in the zone including Brownfields Assessments, Urban Revitalization Agency as well as numerous workforce incentives. Opportunity Zone has seen numerous private catalytic projects. The zone is home to:
For more Information:
Download Butte's Opportunity Zone Prospectus .pdf file:
Contact one of Butte's Opportunity Zone representatives: