Bowman seeking input on 'renaissance' zone

Beth Wischmeyer

Nov. 7, 2009 (McClatchy-Tribune Regional News delivered by Newstex) -- An official in Bowman says the city is still taking input on which area of town to designate a "renaissance zone," a project that would provide income and property tax incentives on improvements to commercial and residential property.

A local steering committee has been charged with developing a zone for Bowman and is seeking feedback from business owners and residents.

"It's been a goal of mine since I was hired two years ago," said Ashley Alderson, executive director for the Bowman County Development Corp. "As for a timeline right now, we're working on a development plan. We are hoping to have that submitted and the zone functioning by the spring, so people can actually start construction projects."

Alderson said the committee is developing a plan that will be submitted to city and state officials for approval by early next spring. The city will have to decide which 23 blocks to include in the zone. In preparing for the plan, the committee has held two public meetings with local residents to discuss what the plan is and how it will impact and potentially benefit the town.

According to Bowman information, eligible projects include: Purchase of property; lease of property; purchase of property with major improvements or new construction; rehabilitation of property which includes 20 percent of true and full value of residential property, 50 percent of true and full value of commercial property; and historical preservation and rehabilitation.

Tax incentives include:

- Up to 100 percent exemption on business income taxes.

- Up to five years of property tax exemption for both residential and commercial structures.

- Up to $10,000 tax credit per year for five years on qualified single-family homes.

- Up to 25 percent tax credit for historic property on the amount invested.

Gordon LaFrance, director of the program with the North Dakota Department of Commerce, said the program came about in 1999. To date, there are 45 North Dakota cities designated with a renaissance zone.

"We have a number of other cities such as Bowman that are looking at the process and are interested in becoming a renaissance," LaFrance said.

Alderson said the comments she's received have been positive.

"People are excited to have another option to help them in their renovation or just another benefit to them taking care of their business," Alderson said. "They are taking an extra step to make their business that much more presentable."

The zone will benefit the city as a whole, she added.

"Hopefully, it will be an incentive for growth and an incentive for businesses to expand, renovate or keep the appearance up of their property," Alderson said. "One thing I really hope it does is attracts housing development, because we're in desperate need."

Additional comments on the project are welcome, she added.

"We will have a public input meeting before we do have our public hearing with the city commission," Alderson said.

Anyone wishing to comment can contact the Bowman County Development Corp. at 701-523-5880.

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