Billings Council Approves TIF Funds for Broadway Building

The city will provide $585,000 to assist in renovating a historic downtown property at 213 N. Broadway St.

Updated on Oct. 29, 2026 in Home Renovation

Billings Council Approves TIF Funds for Broadway Building

Live Poll

Do you support using tax increment financing to help fund downtown building renovations?

The Billings City Council recently approved a $585,000 Tax Increment Financing grant to support a $3.5 million renovation of a downtown building. The project aims to restore the structure at 213 N. Broadway St. and revitalize the surrounding area.

Why it matters

Renovating older buildings often comes with higher costs than new construction, making public assistance critical for historic preservation efforts. This investment seeks to boost local economic activity by significantly increasing building traffic.

The TIF grant covers 16% of the total project cost. Planned upgrades include structural repairs, façade restoration, a 1,000-square-foot lobby, and solar panel installation.

The players

Lee Humphrey Jr.

He is the owner of the downtown property through his company, LDH Properties LLC.

Billings City Council

This is the local legislative body responsible for managing city ordinances and distributing tax increment financing.

Tony O'Donnell

He is a Billings City Council member who cast the lone dissenting vote against the funding proposal.

The details

Owner Lee Humphrey Jr. purchased the building in 2019 following the departure of former tenant Edward Jones. The project goal is to grow the building's workforce from three to 22 employees while raising annual visitor capacity from 600 to 10,000.

The building was purchased in 2019.
City Council approved the funding on October 27, 2026.
Construction is expected to begin in the next few weeks.
The developer must provide proof of private funding by fiscal year 2030.

Culture Shift

The city's use of Tax Increment Financing reflects a broader trend of utilizing public-private partnerships to revitalize aging urban commercial corridors. This approach signals a move away from suburban development toward preserving historic density in the downtown core.

Residents can expect construction activity to begin at the N. Broadway St. site in the coming weeks. The project is designed to increase downtown foot traffic by drawing more visitors to the area once the renovations are finalized.

The takeaway

This project underscores the financial challenges of historic preservation in a modern real estate market. Property owners looking to rehabilitate older buildings may find that public-private funding models serve as a vital tool for bridging budget gaps.