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10-20-21 Urban Renewal Agency Board MinutesURBAN RENEWAL AGENCY BOARD OCTOBER 20, 2021— 4 P.M. CITY HALL— FIRST FLOOR CONFERENCE ROOM AND VIA ZOOM MEMBERS IN ATTENDANCE OTHERS IN ATTENDANCE Marc Rold Jeff Zauner Katharine King, Development Services Shannon Friex David Giardot Chairman Rold called the meeting to order and welcomed Board and City Staff. PUBLIC COMMENT None. PREVIOUS MEETING SUMMARY David moved the September Meeting Summary be accepted; Jeff seconded. All voted in favor. TIF & TEDD Downtown: City staff has met with the Montana Hotel Development Partners and is in process of drafting Developer's Agreements. General project structure and timeline as follows: • One project with two developments, The Charles Hotel and a public parking structure. The hotel portion is not requesting any TIF assistance. Conversely, the parking structure would entirely be a TIF project. With TIF revenue projections over $500,000 annually from the Hotel it is projected that an estimated $7 M parking structure would require approximately fourteen years of increment to cover costs of construction and financing. All the increment from the Hotel would go to the garage. • The hotel is expected to be a 22-24 month build and the parking structure 9 months, with the parking structure to be completed by the completion date of the hotel. Hotel would buy parking permits within the new parking garage from the City. The City will sell remaining permits to downtown businesses and individuals per the usual practice. • It is anticipated that the parking structure would be considered a City TIF project, not a developer TIF project, with a staff report brought before the URA for consideration at its November meeting. URA member Freix brought up points of concern of which she was aware including: • Will all the TIF generated by the Charles Hotel go to just one project, the parking structure? Yes. • How will traffic impacts be managed during the period of construction? • Will the Charles Hotel valet parking create its own traffic pattern to the parking structure creating new congestion? No action has been taken in Development Services on the proposed Main Street Corridor Study following Council acceptance of the 2040 Transportation Plan. Kalispell Trail Design/TIGER/Kalispell Core & Rail Redevelopment: Construction of the Kalispell Parkline continues and is currently focused on street crossings. Landscaping to be installed in the spring of 2022. Work is in progress at the Main Street crossing and is conducted between 7 pm and 7 am to reduce traffic impacts. Community communication on TIF projects: A draft work product was reviewed by members. It was agreed that what is needed is both a summary of the work conducted by the South Kalispell Airport TIF over its term and a brief, public service announcement to share TIF basics and highlights of the South Kalispell TIF achievements. Both will be refined for URA review. BROWNFIELDS Not discussed. WORKFORCE HOUSING City staff noted that approximately 160 City building permits for multi -family (rental) units were issued in 2020. To date the City is on track to issue roughly 600 multi -family building permits in 2021. There will be a lag period as the units are constructed, but generally will be expected to be online roughly a year following issuance of building permit. URA members discussed clarifying the definition of workforce housing and the programs used in Montana cities including Helena, Missoula and Bozeman for TIF support of housing projects. Members agreed to take up the topic at the November meeting. NEXT SCHEDULED MEETING The Board's next meeting is scheduled for Wednesday, November 17, 2021, at 4 p.m. Meeting adjourned.