Resolution 5612 - Roybal TIF Financing AssistanceRESOLUTION NO.5612
A RESOLUI"ION AUTHORIZING THE KALISPELL URBAN RENEWAL AGENCY AND
THE RALISPELL REVOLVING LOAN FUND COMMITTEE TO DETERMINE THE USE
OF UP TO $729661 OF WEST SIDE TAX INCREMENT FUNDS TO ASSIST THE
REDEVELOPMENT OF BLIGHTED PROPERTY AT 11 MAIN STREET, KA.LISPELL,
MONTANA,
WHEREAS, the Kalispell Urban Renewal Agency (URA) has been discussing the potential
expenditure of west Side Tax Increment Funds to assist in the redevelopment of
blighted property at l 1 Main Street, Kalispell, Montana; and
WHEREAS, the URA is recommending, based upon the application of Paul R.oybal, owner of the
subject property, that up to $72,661 of increment funds be considered to assist in this
redevelopment project and that of this sum up to $52,290 may be considered as grant
funding and up to $20,371 may be considered as loan support funding for the project;
and
WHEREAS, the URA seeks the authority to work further with the owner of the subject property to
construct a redevelopment agreement within the above described financial parameters
that offers grant funding to meet the goals of the urban renewal plan, is otherwise
consistent with state tax increment financing law and loan support that meets the
criteria of the Kalispell Revolving Loan Fund (RLF) committee; and
WHEREAS, the Kalispell City Council finds that the subject property is blighted, is located within
the west Side Urban Renewal. TIF District and is eligible for assistance from the
increment funds.
NOW THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
KA.LISPELL, MONTANA, AS FOLLOWS:
SECTION 1. The Kalispell Urban Renewal Agency is authorized to develop an agreement
with the owner of the property at 11 Main Street, Kalispell, Montana for the
purpose of removing blight through the redevelopment and rehabilitation of
the property and is further authorized to commit the use of up to $72,661. of
West Side Tax Increment Funds to this purpose, of which up to $52,290 may
be grant funding and $20,371 may be offered as loan support should the
project meet the criteria set by the Kalispell Revolving Loan Committee.
SECTION 2. The City Manager is authorized on behalf of the City to execute the
redevelopment agreement documents that the - Urban Renewal Agency
develops and proposes for this subject property.
PASSED AND APPROVED BY THE CITY COUNCIL AND SIGNED BY THE MAYOR of THE