The Gallatin County Commission Tuesday gave preliminary approval for the use of recovery zone facility bonds to finance construction of buildings in downtown Bozeman, replacing those destroyed in a March 2009 natural gas explosion that killed one person, according to local reports.
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The RZFB program was created under the American Recovery and Reinvestment Act of 2009, offering private-activity bond financing for projects in designated “recovery zones.”
The developers are seeking $4.25 million in RZFB authorization to finance a three-story building that would replace three structures destroyed in the 2009 disaster.
Tenants in the new structure would include the Rocking R bar, one of four businesses displaced by the explosion.
