Resolution 4504 - TPT Property PurchaseRESOLUTION NO. 4504
A RESOLUTION RELATING TO THE ACQUISITION OF LOTS 3, 4, 5, 6, 7, 8
AND 9, (EXCEPTING THEREFROM THE SOUTHERLY 5 FEET OF LOT 9), BLOCK
76, KALISPELL ORIGINAL TOWNSITE, FROM DEBRA A. THOMPSON AND SUSAN
M. THOMPSON AS TRUSTEES OF THE DAVID E. THOMPSON REVOCABLE TRUST
AND HUGH PINGREE AS TRUSTEE OF THE HUGH R. PINGREE, JR. REVOCABLE
LIVING TRUST, ESTABLISHING A FAIR MARKET VALUE, AND IDENTIFYING THE
INTEREST TO BE ACQUIRED.
WHEREAS, Ordinance No. 933, passed on September 10, 1979,
anticipated improving public parking opportunities within
the Urban Renewal Area, and
WHEREAS, Ordinance No. 1065, passed on November 4, 1985,
designated a Parking Improvement Project for the Urban
Renewal Area and allocated $500,000 financed through the
sale of Tax Increment Revenue Bonds, and
WHEREAS, the City has, since 1985, actively pursued the creation
and preservation of additional public parking spaces
within the Downtown Urban Renewal Area, and
WHEREAS, Debra A. Thompson and Susan M. Thompson as Trustees of
the David E . Thompson Revocable Trust and Hugh Pingree as
Trustee of the Hugh. R. Pingree, Jr., Revocable Living
Trust (hereinafter Trustees) have made an offer to sell
the real property described in Exhibit "A" attached
hereto and thereby made a part hereof, to the City for
the sum of $265,000, and
WHEREAS, the City Council has
advisable and in the
Urban Renewal Area t
reviewed the offer and considers it
best interest of the City and the
o purchase said property.
NOW THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
KALISPELL, AS FOLLOWS:
SECTION I. That the City Council, based upon appraisals
by Rex Boller, CPA, Certified Appraiser and
Roger Jacobson, MAI, determines that the fair
market value of the real property is Two
Hundred and Sixty Five Thousand Dollars
($265,000).
SECTION II. That the creation and preservation of parking
in the Urban Renewal Area will require the
acquisition of a fee simple estate in the name
of the City of Kalispell from the Trustees.
SECTION III. That the work of the Appraisers, with respect
to the property, was performed in a competent
manner in accordance with State law.
SECTION IV. The City Manager is authorized and directed to
execute on behalf of the City the Agreement to
Sell and Purchase the real property and to
complete the purchase of said property for the
sum of Two Hundred and Sixty Five Thousand
Dollars ($265,000).
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SECTION V. The City Finance Officer is authorized and
directed to pay in accordance with the
instructions from the Trustees the sum of Two
Hundred and Sixty Five Thousand Dollars
($265,000) with funds properly appropriated
under the Urban Renewal Tax Increment Budget
and the proceeds of funds made available from
the Tax Increment Cash Flow.
SECTION VI. The City Attorney is authorized and directed
to prepare any documents necessary to effect
this Resolution and the City Manager is
authorized and directed to accept and properly
record on behalf of the City of Kalispell the
deed to said property.
PASSED AND APPROVED BY THE CITY COUNCIL AND SIGNED BY THE MAYOR
THIS 7TH DAY OF SEPTEMBER, 1999.
Attest:
Theresa White
City Clerk
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EXHIBIT "A"
Wml.boharski .
Wm. E. Boharski
Mayor
Lots 3, 4, 5, 6, 7, 8, and 9, Block 76, Kalispell
Original Townsite, Kalispell, Montana, according to the
plat or map thereof on file and of record in the office
of the Clerk and Recorder of Flathead County, Montana.
EXCEPTING THEREFROM the Southerly Five (5) feet of Lot 9
when measured parallel with the South boundary of Lot 9,
Block 76.
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