Resolution 5186 - Approves Proposal for Land Exchange - Valley BankRESOLUTION NO, 5186
A RESOLUTION TO APPROVE THE PROPOSAL OF VALLEY BAND FOR A LAND
EXCHANGE BETWEEN THE CITY AND VALLEY BAND AND FOR THE DEVELOPMENT
OF A NEW VALLEY BANKING FACILITY AND PARKING FACILITIES AND TO DIRECT
THE CITY MANAGER TO NEGOTIATE THE TERMS OF A DEVELOPER'S AGREEMENT
AND PURCHASE AND SALES EXCHANGE AGREEMENT WITH VALLEY BANK.
WHEREAS, the City of Kalispell currently owns Lots 8, 9, 10, 11, and 12 on Block 55 of the old
Kalispell Townsite bounding on Main Street and Valley Bank currently owns Lots 16,
17, 18, 19 and 20 on Block 55 of the old Kalispell Townsite bounding on First Avenue
West; and
WHEREAS, the City currently utilizes its above -described property for public parking purposes and
Valley Bank currently utilizes its above -described property for its banking facility and for
parking purposes; and
WHEREAS, Valley Bank has proposed that the parties exchange the above --described properties for
fair market value so that Valley Bank may construct a new banking facility upon the
Main Street property and so that the City may develop a parking facilities plan to better
meet the needs of the Kalispell Downtown community; and
WHEREAS, the terms of a purchase and sales exchange agreement and a developer's agreement must
be negotiated and agreed upon between the City of Kalispell and Valley Bank before the
sale may be consummated.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF KALISPELL
AS FOLLOWS:
SECTION I. The City Manager is directed to negotiate a purchase and sales exchange
agreement and a developer's agreement with Valley Bank that is consistent with
the proposal provided and that is in the best interests of the City of Kalispell and
to bring such purchase and sales exchange agreement and developer's agreement
to the City Council for its review and approval
PASSED AND APPROVER BY THE CITY COUNC
CITY OF KALISPELL, THIS 5TH DAY OF MARCH,
Pamela B. Fenn
Mayor
Theresa White
City Clerk
FIE