Market Square on Russell Intermountain Development Company, Inc.

Project Site acres Wyoming Street South 3 rd Street Russell StreetRussell Street Catlin StreetCatlin Street Property Boundaries Project Area of Interest Silvercrest Residence

IDC Objectives with Market Square on Russell Opportunity to provide housing for many income groups Opportunity to provide housing for many income groups Affordable Housing Units Affordable Housing Units Market Rate Units +/- 175 Units Market Rate Units +/- 175 Units Create Long-term Income Stream to Support Housing Create Long-term Income Stream to Support Housing Sound Urban Redevelopment with true in-fill Sound Urban Redevelopment with true in-fill Integrate into Neighborhood (park, trails, transit, etc.) Integrate into Neighborhood (park, trails, transit, etc.) Guide Russell Street’s Future Guide Russell Street’s Future Innovate: Live/work Opportunity, Multi-use, Multi-income Innovate: Live/work Opportunity, Multi-use, Multi-income Protect IDC and Others’ Investment Protect IDC and Others’ Investment

Planning History  2003 Charrette  Connections with Neighborhood Council Leadership Team  MMW providing design and planning guidance

Market Square on Russell Next Steps   Complete Site Planning Design   Refine Use Mix   Identify Parcels and Establish Phasing   Establish Design Standards   Submit Zoning Application   Begin Marketing   Locally   Regionally   Demolition/Deconstruction of Improvements   Recycle and Re-use materials   Contain Costs   Environmental sensitivity

Market Square On Russell   Key Design Considerations   Taller Buildings on Russell Street   Create “downtown” flavor   Mixed Uses—retail with office and residential above   Setbacks to establish “street-wall” and architectural texture   Walkability   Build Over Parking   Uses land twice   Avoids surface lots   Costly   Park (over Parking) for Caras Park-type uses   Unique   Convenient   Community Center   Meeting rooms and offices   Post Office   Bus Transfer Center

Market Square On Russell Residential Considerations  True Mix of Incomes, Housing and Ownership Types  Affordability  Condominiums as a Housing Option  Market Demands

Market Square On Russell Infrastructure Needs Which are Eligible for Tax Increment Financing: Tax Increment Financing:  Streets, Sidewalks, Curbs, Gutters  Sewer, Water, Gas, Electric  Parking  Park

Market Square On Russell  Proposal for Tax Increment Bonds  Series of up to four issuances  Based on Phases of Project  Tied to performance of previous Phases  Each issue a “stand alone”  Details and structure to be determined in coming months with an aim to issue first bonds before the end of the calendar year.

Market Square On Russell Possible Phasing Schemes Test Schematic

Market Square on Russell For further information contact: Geoff Badenoch, Project Manager Intermountain Development Company, Inc th St. Missoula, MT Tel fax