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Montana bets on business interest to help renovate Old West towns

A new law aims to encourage public-private partnerships to fund improvements in Montana’s Old West towns
Jay Godwin / LBJ Library
/
Wikimedia
A new law aims to encourage public-private partnerships to fund improvements in Montana’s Old West towns

The state is rolling out new leasing rules to entice businesses to move into and restore historic structures in Virginia City, Nevada City and Reeder's Alley.

The Montana Department of Commerce on Wednesday announced lease applications are now open for some of Montana’s oldest standing buildings in central and southwestern Montana, now with longer lease times and, theoretically, more reason for private businesses to invest.

The current application period is the result of a new law the legislature passed in May that extends lease times from 20 years to up to 99 years. It’s aimed at attracting public-private partnerships to the state-managed historic properties and saving the state money for capital improvements on those buildings.

Montana Heritage Preservation and Development Commission executive director Kal Poole told lawmakers in April the state manages over 250 buildings in Virginia and Nevada Cities in Madison County and Reeder's Alley in downtown Helena.

“There are many of them that are barns and sheds and outhouses and structures that are not necessarily in serviceable use for a business, and then there are a few that are in varying states of decay and that we are working hard to preserve,” said Poole.

Poole told lawmakers around 30 or 40 buildings are already occupied by businesses, and there are around ten buildings with a need for improvements at the top of his list for development.

Private businesses would foot the bill for construction through an agreement with the state, receive a break on their lease during that work and ultimately pay the state a portion of their revenue.

Kayla writes about energy policy, the oil and gas industry and new electricity developments.