Tax increment dollars slated for Bozeman affordable housing project

City commissioners this week greenlit allocating over $7 million in tax increment dollars to an affordable housing project in central Bozeman.

The Lumberyard project is being put forward by Virga Capital, a Bozeman-based firm who is planning to sell a portion of the western part of the lot to Reuter Walton, another development firm. David Fine, an economic development program manager with the city, said during the commission meeting Tuesday that part of the agreement includes placing a covenant on the land requiring any development there to include affordable housing.

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