Resolution 6184 - Transfers IRP Funds and Obligations to MWED RESOLUTION NO. 6184
A RESOLUTION AUTHORIZING THE CITY MANAGER TO TRANSFER ALL
RIGHTS AND OBLIGATIONS OF THE UNITED STATES DEPARTMENT OF
AGRICULTURE OFFICE OF RURAL DEVELOPMENT INTERMEDIARY
RELENDING PROGRAM ("IRP") FUNDS TO MONTANA WEST ECONOMIC
DEVELOPMENT ("MWED") FOR THEIR ASSUMPTION.
WHEREAS, on May 5, 2003, the City Council passed Resolution 4780, which established an
Economic Development Revolving Loan Fund for small business retention and
expansion in the City of Kalispell and created an Economic Development Loan
Review Committee; and
WHEREAS, the US Department of Agriculture Rural Development sources make loan funds
available for the creation of local government revolving loan programs for small
business retention and expansion which may stimulate economic development
activity by assisting the private sector where a funding gap exists and alternative
sources of public and private financing are not adequate; and
WHEREAS, on September 5, 2023, the City Council approved Resolution 6158, which
authorized the City and MWED to enter into a mutually beneficial arrangement
enabling MWED to expand its loan program offerings in the City in order to
benefit small business and eliminate duplication of services; and
WHEREAS, the City Council and MWED now desire to transfer all of the City's rights and
obligations of the IRP loan funds to MWED.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
KALISPELL AS FOLLOWS:
SECTION 1. That the City Manager is hereby authorized and directed to transfer all
rights and obligations of the United States Department of Agriculture
Office of Rural Development Intermediary Relending Program funds to
Montana West Economic Development.
PASSED AND APPROVED BY THE CITY COUNCIL AND SIGNED BY THE MAYOR OF
THE CITY OF KALISPELL, THIS 5TH DAY OF FEBRUARY, 2024.
Mark John
ATTEST: Mayor
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Aimee 43runckhorst, CMC
City ClerkIV
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