The planned parking garage in Uptown Butte has one more hurdle to clear before construction gets started, possibly this week.
The Urban Revitalization Agency board signed off Tuesday on a construction price not to exceed about $7.4 million unless the county orders up additional features. The parking garage will built at 60 W. Park St.
In other action, the board approved a loan up to $181,500 for Buddy and Carrie Fisher to purchase a three-story building at 104 W. Park Street on the corner of Park and Montana. The couple owns the Tac Del Sol restaurant there as well as the Pita Pit restaurant across the street
Commissioners could give final nods to the parking garage Wednesday night by also agreeing to the maximum price and approving an $8 million URA bond to finance construction. The bond is higher than the construction costs because more than $500,000 must be put in a reserve account for the project.
Property tax revenue from the URA’s Uptown tax-increment financing district will be used to pay back the bond over 23 years.
URA Director Karen Byrnes said the maximum price covers everything requested to construct the building as designed. Sletten Construction of Great Falls is the primary builder but it plans to hire several subcontractors.
URA Board Chairman Dale Mahugh said the garage has been “a long time in coming.” Discussions about one go back at least a decade.
“This is something I think will really cement the Uptown area,” he said.
The Fishers opened their Pita Pit restaurant in the fall of 2014 and it set a two-week opening sales record for markets similar to Butte, they said. That success played a part in their decision to buy the Taco Del Sol restaurant at 102 E. Granite St. and move it to the building on West Park.
They plan to buy the rest of the building with the URA loan granted Tuesday, turning the upper two floors into living space and renovating two storefronts on the first floor, one for a possible new business in town.