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Resolution 5719 - TIGER VII Grant Match FundsRESOLUTION NO. 5719 A RESOLUTION ACCEPTING THE RECOMMENDATION OF THE CITY OF KALISPELL URBAN RENEWAL AGENCY THAT IDENTIFY CERTAIN PROJECTS IN THE WEST SIDE URBAN RENEWAL PLAN THAT MAY BE FINANCED BY WEST SIDE TAX INCREMENT FUNDS AND WHICH SHOULD BE CONSIDERED AS LOCAL MATCH FUNDS TO A TRANSPORTATION INVESTMENT GENERATING ECONOMIC RECOVERY (TIGER VII) GRANT FOR THE CORE AREA URBAN RENEWAL PLAN. WHEREAS, the City of Kalispell, pursuant to Ordinance No. 1259, created the West Side Urban Renewal District on March 17, 1997, and approved the West Side Urban Renewal Plan; and WHEREAS, the City, on November 19, 2012 pursuant to Ordinance No. 1717 modified the boundaries of the Kalispell West Side Tax Increment Financing District to include additional properties known and identified as the "Core Area", comprising the area affected by the railroad tracks traversing central Kalispell from east to west and which includes approximately 364 acres along the rail corridor within the city limits; and WHEREAS, after conducting duly noticed and proper hearings for the purposes of collecting public comment and evidence on the Core Area Plan and after acting legislatively to amend the Kalispell Growth Policy 2020, the Kalispell City Council, on February 4, 2013, by Resolution 5605, found it to be in the best interests of the City to amend the West Side Urban Renewal Plan to include the Core Area Plan; and WHEREAS, the duly adopted Core Area Plan as fully described in Kalispell Planning Department report #KGPA-12-01 includes the goals of removal of rail infrastructure, engineering and construction of interconnecting sidewalk and trail access with a proposed linear trail planned to be constructed when the tracks are removed, engineering and construction of utilities (water, storm sewer, wastewater) and street system within the abandoned track area as well as to serve those businesses removed to the rail park adjacent to the district and grading and preparation of site within rail park to receive the removed businesses; and WHEREAS, on the 15ih day of May, 2015, the City of Kalispell Urban Renewal Agency considered the above listed projects under the state and local regulatory rules for use of Tax Increment Funding and made the recommendation to the city council that the West Side Tax Increment Funds may be used for these projects; and WHEREAS, preliminary engineering estimates of the listed projects are identified in Exhibit "A" attached hereto and are highlighted in such exhibit in yellow; and 1 WHEREAS, the city currently has $4.288 million in available TIF funds and anticipates realizing an additional $17.818 million of incremental TIF Revenue over the remaining life of the TIF District; and WHEREAS, the Kalispell City Council finds that it is in the best interests of the City that it fund the listed projects and in the percentages set forth in Exhibit `B" from West Side Tax Increment Funds in the amount of $4.5 million as a portion of the match required by the TIGER VII Grant. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF KALISPELL, AS FOLLOWS: SECTION 1. That it is the desire of the Kalispell City Council that application be made for a Transportation Investment Generating Economic Recovery (TIGER) VII Grant to fund certain projects that meet the goals and policies of the Core Area Urban Renewal Plan. SECTION 2. That the Kalispell City Council hereby accepts the recommendation of the Urban Renewal Agency that the identified projects may, under the state and local regulatory rules for use of Tax Increment Funding, be funded from the West Side Tax Increment Fund and that the sum of $4.5 million be offered as matching funds for the TIGER VII Grant. SECTION 3. That the Kalispell City Council hereby approves the application for a Transportation Investment Generating Economic Recovery (TIGER) VII Grant to fund those certain projects that meet the goals and policies of the Core Area Urban Renewal Plan and authorize the City Manager to make such application. SECTION 3. This Resolution shall become effective immediately upon its passage by the City Council. PASSED AND APPROVED BY THE CITY COUNCIL AND SIGNED BY THE MAYOR OF THE CITY OF KALISPELL, THIS Ist DAY OF JUNE, 2015. ATTEST: AAA Aim& Brunckhorst, CMC City Clerk 2 Mark Johns n Mayor 0 a r ih O O (D (D 0q' Q. D D o r� m c v O cn O C H rn N =• m O rt m d4 _ Uq C) (D r+ C O O 7 O rt r+ X in O _ (D rt r 7 r+ fD rD , t O (D c In M -Os (D �' Q n O vOi rt (D Cl p O� rN+ O (D p m a D r�D mn m c CD rD a) �. 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