The Babcock Theater and the Billings Depot, two significant nonprofits deeply rooted in Billings' history, are finally set to receive the much-needed assistance for their repairs. These historic landmarks hold a special place in the city and are crucial for the cultural and economic fabric. Monday night's decision by the Billings City Council to approve TIF funding marked a significant step forward. "Preserving History: Billings' Nonprofits Get a Helping Hand"
The Babcock Theater's Repairs
The Babcock Theater, built in 1907, is in dire need of various repairs. Council's approval of up to $300,000 in TIF funding is a game-changer. Around $250,000 will be dedicated to repairing the marquee, which is a vital part of the theater's charm. A new boiler costing $30,000 will also be installed, ensuring the theater's functionality. Nicole Shreiner, the Art House Operations Director, emphasizes the importance of these repairs. "This is not just about fixing a few things; it's about keeping this beloved historic theater safe and comfortable for the community. We want to continue offering great film and culture to our city." The projection booth also requires attention, highlighting the comprehensive nature of the needed repairs.The tax-increment financing (TIF) system, which generates funds from increases in taxable properties within the city, is a perfect fit for these projects. It allows for targeted investments in blighted areas, and the Babcock Theater clearly falls into this category.The Billings Depot's Renovation
The Billings Depot also received $75,000 in TIF funding. This will enable it to take advantage of a $414,000 historic preservation grant, which can be used for a multitude of repairs. Michelle Williams, the Billings Depot executive director, explains, "We invest a lot of time, effort, and resources in maintaining the campus. With the help of the grant and TIF funds, we can now undertake multiple projects simultaneously. It's a great opportunity to enhance the Depot's functionality and preserve its historical significance."Mayor Bill Cole highlights the Depot's critical role in the Billings community. "Historically, culturally, and economically, this building is essential. It injects millions of dollars into our downtown economy. Just imagine how many restaurants wouldn't exist without the Babcock and the Depot." Additionally, the Depot pays about $17,000 in taxes each year, which will help replenish the Downtown TIF funds. This shows the positive impact these nonprofits have on the city's finances as well.These two nonprofits are not just about preserving history; they are about creating a vibrant community. The combined efforts of the City Council, the nonprofits, and the community will ensure that these treasures continue to thrive for generations to come.
