PH - Resolution 4534 - Amending Annual Appropriationsof Kalispell
Post Office Box 1997 • Kalispell, Montana 59903-1997 • Telephone (406) 758-7700 • FAX (406) 758-7758
REPORT TO:
FROM:
SUBJECT:
MEETING DATE:
Mayor Boharski and City Council Members
Amy Robertson, Finance Director
Chris Kukulski, City Manager
Budget Amendment - UDAG (Urban Development Action Grant)
appropriation request to increase budget authority to make
redevelopment loans on behalf of Stream International, Inc. and The
United Way of Flathead County.
February 7, 2000
BACKGROUND: The City Council will be holding a Public Hearing for comment on
the City's proposed amendment to the budget this evening. The
budget appropriation for the UDAG Fund needs to be increased to
authorize the loans to the United Way and to Stream International,
Inc. The funds are available.
The loan to the United Way is in the amount of $133,500 to assist
with relocation of their offices. It is a 20 year loan at 6%.
The loan for $1,000,000 to Stream International, Inc. is a 10 year
loan at 11.5% and is part of the development package associated
with the urban renewal project at the Gateway site.
The Resolution will increase the appropriation by $1,133,500.
RECOMMENDATION: Adopt resolution amending the appropriations.
ALTERNATIVES: None
G.
Amy 111. Robertson
Finance Director
Report compiled: February 4, 2000
Chris A. Kukulski
City Manager
RESOLUTION NO. 4534
A RESOLUTION AMENDING THE ANNUAL APPROPRIATIONS OF THE CITY OF
KALISPELL, MONTANA, AS SET FORTH IN THE 1999-2000 BUDGET ADOPTED BY
THE CITY COUNCIL FOR THE PURPOSE OF APPROPRIATING LOANS FOR STREAM
INTERNATIONAL SERVICES CORP., AND UNITED WAY OF FLATHEAD COUNTY.
WHEREAS, in the budget adopted by the City of Kalispell for the
2000 fiscal year, certain detailed and itemized estimates
of expenditures for the use of proceeds connected with
the UDAG Loan Repayment for the 2000 fiscal year have
proven inaccurate because of a commitment to assist both
Stream International, Inc. and the United Way of Flathead
County.
WHEREAS, the overall expenditures of the said UDAG Loan Repayment
are currently not in excess of the total of such
estimates of expenditures adopted in the City's budget
for the 2000 fiscal year, however, it does appear that
the total of the budgeted appropriations in said
classification will exceed such estimate for the balance
of the 2000 fiscal year, and
WHEREAS, program income within the UDAG Loan Repayment Fund
classification will have cash not appropriated and said
excess may be utilized, to that, the respective budget
appropriations are not exceeded by expenditures, and
WHEREAS, said program income is revenue accruing to the City not
appropriated pursuant to Section 7-6-4271, and
constitutes an overall increase in appropriation
authority, and
WHEREAS, the appropriate fund would be the UDAG Fund, Community
Development Activity Account Number, 2886-480-470210-790,
which is the appropriate expenditure line item.
WHEREAS, On February 7, 2000 at 7:00 o'clock P.M., in the Council
Chambers, City Hall, Kalispell, a public hearing was held
on appropriating funds from the UDAG Loan Repayment Fund
in the amount of $1,000,000 for the purpose of loaning
money to Stream International Services Corp. in order to
locate a Customer Service Center in the Gateway West
Mall, and $133,500 for the purpose of loaning money to
the United Way of Flathead County to relocate their
offices.
SECTION I. That the annual appropriation for the UDAG
Fund, Community Development Activity Account
is hereby amended by allocating an additional
$1,000,000 from the UDAG Loan Replacement for
the purpose of loaning money to Stream
International Services Corp. for capital
improvements associated with locating a
"service center" in the Gateway West Mall and
further allocating an additional $133,500 for
the purpose of loaning money to the United Way
of Flathead County to relocate office space.
PASSED AND APPROVED BY THE CITY COUNCIL AND SIGNED BY THE MAYOR OF
THE CITY OF KALISPELL, MONTANA, THIS 7TH DAY OF FEBRUARY, 2000.
Wm. E. Boharski
Mayor
ATTEST:
Theresa White
City Clerk