Resolution 5507 - Partial TIF Distribution - West SideA RESOLUTION TO AUTHORIZE A CASH DISTRIBUTION FROM THE WEST SID
TAX INCREMENT FINANCING
[!VODIESO
WHEREAS, on the 17f' day of March, 1997 the City of Kalispell established the Nest Side Tax
Increment Financing (TIF) District with ordinance No. 1259 and Resolution No.
4309 pursuant to the authority granted the City under MCA Title 7, Chapter 15, Part
42; and
WHEREAS, the city received a request from. the Kalispell Public Schools, one of the contributing
taxing bodies, for a distribution from the west Side TIF account in the sum of
approximately $1501,000 to address the human safety needs of the Flathead High
School identified and required by the Kalispell City Fire Department; and
WHEREAS, pursuant to MCA 7-15-429.1 the city may agree to remit to other contributing taxing
bodies such portions of the tax increment accrued that are not currently required for
the payment of obligations to which the city has previously committed or pledged to
the payment of the principal of premiums, if any, or interest on any outstanding
bonds; and
WHEREAS, the Urban Renewal Agency net on .Tune 22, 2011 and fully considered the request of
the Kalispell School District and determined to recommend to the City Council that it
approve the distribution request by making a total. distribution of $465,000 to the
contributing taxing bodies; and
WHEREAS, the balance of the west Side T11F fund on June 29, 2011. is $2,235,257.27 from which
there are sufficient unencumbered funds to make a total. distribution of $465,000 to
the contributing taxing bodies from which the request of the Kalispell School District
will be met in the sure. of $153,399.93.
NOW, THEREFORE, BE IT RESOLVER BY THE CITY COUNCIL OF THE CITY OF
KALISPELL AS FOLLOWS
SECTION I. The City Manager is authorized to instruct the Finance Director to
immediately remit the sum of $465,000 from the west Side TIF fund to the
Flathead County Treasurer for the purpose of making the appropriate pro rata
distribution to the contributing taxing bodies of which the Kalispell School
District should receive $153,399.93.
PASSED AND APPROVED BY THE CITY COUNCIL AND SIGNED BY THE MAYOR OF THE
CITY OF KALISPELL, THIS STH DAY OF JULY, 2011.
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Tammi Fisher
Mayor
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