Resolution 5618 - Authorizing Application for USDA Rural Development Revolving Loan FundsA RESOLUTION AUTHORIZING THE CITY MANAGER TO MAKE APPLICATION FOR
ADDITIONAL LOAN FUNDS FROM THE USDA RURAL DEVELOPMENT AGENCY
INTERMEDIARY RELENDING PROGRAM IN ORDER TO FUND ADDITIONAL
PROJECTS THROUGH KALISPELL ECONOMIC
DEVELOPMENT
REVOLVING LOAN FUND FOR SMALL BUSINESS RETENTION AND EXPANSION.
WHEREAS, the City Council passed Resolution 4780 on May 5, 2003, which established an
Economic Development tiving Loan Fund for small business retentionaniL
expansion in the Citof / r' and created an EconomicDevelopment L! / ,
assisting
assisting
WHEREAS, the City continues to receive applications from the private sector for loan funding for
viable business development seeking to locate or expand within the Cityo'f Kalispell
business region;and
eligibleWHEREAS, the City of Kalispell is otherwise
Agency's Intermediary Relending Program for an additional $750,000 to fund its
revolving loan program for small business retention and expansion.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL , CITY OF
KALISPELL AS
ManagerSECTION 1. That the City ! authorized and directed to apply for!_
from the United States Department of A *culture, Rural Development office
ri
in the amount of $750,000 in order to fund additional projects for the
Revolving L! Fund.
PASSED AND APPROVED :BY THE CITY COUNCIL AND SIGNED BY THE MAYOROF THE
CITY OF KALISPELL, THIS 6THI DAY OF MAY, 2013.
Tami Fisher
ATTEST: Mayor
1
Theresa White
City Clerk