The Economic Vitality Board heard presentations on two major economic development topics at its May 6 meeting: the long-term impact of Bozeman's community-owned fiber optic network and community land trusts as a tool for affordable homeownership. Grace Gilbreath of the Northern Rocky Mountain Economic Development District presented findings from an economic impact analysis of the Yellowstone Fiber Network, which the city launched in 2012 with $4 million in initial financing from local banks. The network has since attracted approximately $105 million in total investment at no cost to taxpayers. According to Gilbreath's analysis, the network generated over $135 million in total economic activity and more than 1,400 jobs across three study periods, with over 80 percent of that value retained locally. Yellowstone Fiber CEO Sid Boswell, present at the meeting, explained the network operates as an open-access model with six competing internet service providers sharing the infrastructure. The network currently passes 16,000 households and serves about 3,500 residential customers and 350 businesses.
Rick Simpkins of HRDC presented on community land trusts, a model where a nonprofit owns land while selling homes at below-market prices with resale restrictions to maintain affordability. Simpkins highlighted how CLT purchases can provide stable housing costs and modest equity gains while keeping homes permanently affordable for future buyers—a contrast to traditional affordable housing programs that lose affordability after initial sales. Board Member Nathan Stein, who leads the Headwaters Community Housing Trust, noted the ongoing stewardship required for such programs. Commissioner Douglas Fischer indicated that affordable housing funding remains among the City Commission's top priorities, with land trusts, revenue bonds, and levies under consideration for future work sessions.
The board also approved four months of backlogged meeting minutes with corrections and agreed informally to cancel the July meeting, with a formal vote scheduled for June.