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FCEDA Ownership of Constructed Assets - Rail Parkflathead county January 8, 2020 City of Kalispell 201 V Ave E Kalispell, MT 59901 To the City of Kalispell: ECONOMIC DEVELOPMENT AUTHORITY FCEDA is pleased to have had the opportunity to partner with the City of Kalispell on the Kalispell Core and Rail Project. It is very exciting to see this project coming to fruition following the years of time and effort by all involved! FCEDA recognizes that the construction of the Glacier Rail Park is complete, and this letter serves as formal notification that FCEDA is prepared to accept ownership of the constructed assets. As required by generally accepted accounting principles, these assets will be placed on the FCEDA financial statements at their estimated value at the time of transfer. FCEDA has elected to use the construction costs plus an inflationary factor to establish the asset value. Please refer to the enclosed "Glacier Rail Park Capital Assets" spreadsheet for valuation details. FCEDA deems the project to be complete, and that the assets listed and valuations attached are true and correct. The signature of an authorized representative from the City of Kalispell on page 2 of this letter will formalize the transfer of assets as -of the signature date. The signed letter can be returned to FCEDA in the enclosed envelope. We look forward to continued partnership with the City of Kalispell as we enter the final phase of the Core and Rail Project. Sincerely, Turner Askew Chairman of the Board Enclosures: Asset Valuation Spreadsheet Construction Costs Document marked for FCEDA Return Envelope 44 Second Avenue West . Kalispell, Montana 59901 •406-257-7711 www_. flatheadcountyeda. com . www. kalispellcoreandrail. com Enclosures: Asset Valuation Spreadsheet Construction Costs Document marked for FCEDA Return Envelope 44 Second Avenue West . Kalispell, Montana 59901 •406-257-7711 www_. flatheadcountyeda. com . www. kalispellcoreandrail. com Enclosures: Asset Valuation Spreadsheet Construction Costs Document marked for FCEDA Return Envelope 44 Second Avenue West . Kalispell, Montana 59901 •406-257-7711 www, flatheadcountyeda. cam . www. kalispellcoreandrail. com Enclosures: Asset Valuation Spreadsheet Construction Costs Document marked for FCEDA Return Envelope 44 Second Avenue West . Kalispell, Montana 59901 •406-257-7711 www_. flatheadcountyeda. com . www. kalispellcoreandrail. com Enclosures: Asset Valuation Spreadsheet Construction Costs Document marked for FCEDA Return Envelope 44 Second Avenue West . Kalispell, Montana 59901 •406-257-7711 www. flatheadcountyeda. cam . www. kalispellcoreandrail. com Enclosures: Asset Valuation Spreadsheet Construction Costs Document marked for FCEDA Return Envelope 44 Second Avenue West . Kalispell, Montana 59901 •406-257-7711 www_. flatheadcountyeda. com . www. kalispellcoreandrail. com Enclosures: Asset Valuation Spreadsheet Construction Costs Document marked for FCEDA Return Envelope 44 Second Avenue West . Kalispell, Montana 59901 •406-257-7711 www_. flatheadcountyeda. com . www. kalispellcoreandrail. com Enclosures: Asset Valuation Spreadsheet Construction Costs Document marked for FCEDA Return Envelope 44 Second Avenue West . Kalispell, Montana 59901 •406-257-7711 www, flatheadcountyeda. cam . www. kalispellcoreandrail. com Enclosures: Asset Valuation Spreadsheet Construction Costs Document marked for FCEDA Return Envelope 44 Second Avenue West . Kalispell, Montana 59901 •406-257-7711 www_. flatheadcountyeda. com . www. kalispellcoreandrail. com Enclosures: Asset Valuation Spreadsheet Construction Costs Document marked for FCEDA Return Envelope 44 Second Avenue West . Kalispell, Montana 59901 •406-257-7711 www. flatheadcountyeda. cam . www. kalispellcoreandrail. com Enclosures: Asset Valuation Spreadsheet Construction Costs Document marked for FCEDA Return Envelope 44 Second Avenue West . Kalispell, Montana 59901 •406-257-7711 www_. flatheadcountyeda. com . www. kalispellcoreandrail. com Enclosures: Asset Valuation Spreadsheet Construction Costs Document marked for FCEDA Return Envelope 44 Second Avenue West . Kalispell, Montana 59901 •406-257-7711 www_. flatheadcountyeda. com . www. kalispellcoreandrail. com Enclosures: Asset Valuation Spreadsheet Construction Costs Document marked for FCEDA Return Envelope 44 Second Avenue West . Kalispell, Montana 59901 •406-257-7711 www, flatheadcountyeda. cam . www. kalispellcoreandrail. com Enclosures: Asset Valuation Spreadsheet Construction Costs Document marked for FCEDA Return Envelope 44 Second Avenue West . Kalispell, Montana 59901 •406-257-7711 www_. flatheadcountyeda. com . www. kalispellcoreandrail. com Enclosures: Asset Valuation Spreadsheet Construction Costs Document marked for FCEDA Return Envelope 44 Second Avenue West . Kalispell, Montana 59901 •406-257-7711 www. flatheadcountyeda. cam . www. kalispellcoreandrail. com Enclosures: Asset Valuation Spreadsheet Construction Costs Document marked for FCEDA Return Envelope 44 Second Avenue West . Kalispell, Montana 59901 •406-257-7711 www_. flatheadcountyeda. com . www. kalispellcoreandrail. com Enclosures: Asset Valuation Spreadsheet Construction Costs Document marked for FCEDA Return Envelope 44 Second Avenue West . Kalispell, Montana 59901 •406-257-7711 www_. flatheadcountyeda. com . www. kalispellcoreandrail. com Enclosures: Asset Valuation Spreadsheet Construction Costs Document marked for FCEDA Return Envelope 44 Second Avenue West . Kalispell, Montana 59901 •406-257-7711 www, flatheadcountyeda. cam . www. kalispellcoreandrail. com Enclosures: Asset Valuation Spreadsheet Construction Costs Document marked for FCEDA Return Envelope 44 Second Avenue West . Kalispell, Montana 59901 •406-257-7711 www_. flatheadcountyeda. com . www. kalispellcoreandrail. com Enclosures: Asset Valuation Spreadsheet Construction Costs Document marked for FCEDA Return Envelope 44 Second Avenue West . Kalispell, Montana 59901 •406-257-7711 www. flatheadcountyeda. cam . www. kalispellcoreandrail. com Enclosures: Asset Valuation Spreadsheet Construction Costs Document marked for FCEDA Return Envelope 44 Second Avenue West . Kalispell, Montana 59901 •406-257-7711 www_. flatheadcountyeda. com . www. kalispellcoreandrail. com Enclosures: Asset Valuation Spreadsheet Construction Costs Document marked for FCEDA Return Envelope 44 Second Avenue West . Kalispell, Montana 59901 •406-257-7711 www_. flatheadcountyeda. com . www. kalispellcoreandrail. com Enclosures: Asset Valuation Spreadsheet Construction Costs Document marked for FCEDA Return Envelope 44 Second Avenue West . Kalispell, Montana 59901 •406-257-7711 www, flatheadcountyeda. cam . www. kalispellcoreandrail. com Enclosures: Asset Valuation Spreadsheet Construction Costs Document marked for FCEDA Return Envelope 44 Second Avenue West . Kalispell, Montana 59901 •406-257-7711 www_. flatheadcountyeda. com . www. kalispellcoreandrail. com Enclosures: Asset Valuation Spreadsheet Construction Costs Document marked for FCEDA Return Envelope 44 Second Avenue West . Kalispell, Montana 59901 •406-257-7711 www. flatheadcountyeda. cam . www. kalispellcoreandrail. com Enclosures: Asset Valuation Spreadsheet Construction Costs Document marked for FCEDA Return Envelope 44 Second Avenue West . Kalispell, Montana 59901 •406-257-7711 www_. flatheadcountyeda. com . www. kalispellcoreandrail. com Enclosures: Asset Valuation Spreadsheet Construction Costs Document marked for FCEDA Return Envelope 44 Second Avenue West . Kalispell, Montana 59901 •406-257-7711 www_. flatheadcountyeda. com . www. kalispellcoreandrail. com Enclosures: Asset Valuation Spreadsheet Construction Costs Document marked for FCEDA Return Envelope 44 Second Avenue West . Kalispell, Montana 59901 •406-257-7711 www, flatheadcountyeda. cam . www. kalispellcoreandrail. com Enclosures: Asset Valuation Spreadsheet Construction Costs Document marked for FCEDA Return Envelope 44 Second Avenue West . Kalispell, Montana 59901 •406-257-7711 www_. flatheadcountyeda. com . www. kalispellcoreandrail. com Enclosures: Asset Valuation Spreadsheet Construction Costs Document marked for FCEDA Return Envelope 44 Second Avenue West . Kalispell, Montana 59901 •406-257-7711 www. flatheadcountyeda. cam . www. kalispellcoreandrail. com Enclosures: Asset Valuation Spreadsheet Construction Costs Document marked for FCEDA Return Envelope 44 Second Avenue West . Kalispell, Montana 59901 •406-257-7711 www_. flatheadcountyeda. com . www. kalispellcoreandrail. com Enclosures: Asset Valuation Spreadsheet Construction Costs Document marked for FCEDA Return Envelope 44 Second Avenue West . Kalispell, Montana 59901 •406-257-7711 www_. flatheadcountyeda. com . www. kalispellcoreandrail. com Enclosures: Asset Valuation Spreadsheet Construction Costs Document marked for FCEDA Return Envelope 44 Second Avenue West . Kalispell, Montana 59901 •406-257-7711 www, flatheadcountyeda. cam . www. kalispellcoreandrail. com Enclosures: Asset Valuation Spreadsheet Construction Costs Document marked for FCEDA Return Envelope 44 Second Avenue West . Kalispell, Montana 59901 •406-257-7711 www_. flatheadcountyeda. com . www. kalispellcoreandrail. com Enclosures: Asset Valuation Spreadsheet Construction Costs Document marked for FCEDA Return Envelope 44 Second Avenue West . Kalispell, Montana 59901 •406-257-7711 www. flatheadcountyeda. cam . www. kalispellcoreandrail. com Enclosures: Asset Valuation Spreadsheet Construction Costs Document marked for FCEDA Return Envelope 44 Second Avenue West . Kalispell, Montana 59901 •406-257-7711 www_. flatheadcountyeda. com . www. kalispellcoreandrail. com Enclosures: Asset Valuation Spreadsheet Construction Costs Document marked for FCEDA Return Envelope 44 Second Avenue West . Kalispell, Montana 59901 •406-257-7711 www_. flatheadcountyeda. com . www. kalispellcoreandrail. com Enclosures: Asset Valuation Spreadsheet Construction Costs Document marked for FCEDA Return Envelope 44 Second Avenue West . Kalispell, Montana 59901 •406-257-7711 www, flatheadcountyeda. cam . www. kalispellcoreandrail. com Enclosures: Asset Valuation Spreadsheet Construction Costs Document marked for FCEDA Return Envelope 44 Second Avenue West . Kalispell, Montana 59901 •406-257-7711 www_. flatheadcountyeda. com . www. kalispellcoreandrail. com Enclosures: Asset Valuation Spreadsheet Construction Costs Document marked for FCEDA Return Envelope 44 Second Avenue West . Kalispell, Montana 59901 •406-257-7711 www. flatheadcountyeda. cam . www. kalispellcoreandrail. com Enclosures: Asset Valuation Spreadsheet Construction Costs Document marked for FCEDA Return Envelope 44 Second Avenue West . Kalispell, Montana 59901 •406-257-7711 www_. flatheadcountyeda. com . www. kalispellcoreandrail. com