Resolution 5844 - $10,000 Husky Street TIF ReimbursementRESOLUTION NO.5844
A RESOLUTION APPROVING THE KALISPELL URBAN RENEWAL AGENCY
RECOMMENDATION TO GRANT ADDITIONAL REIMBURSEMENT OF CERTAIN TAX
INCREMENT ELIGIBLE COSTS TO HUSKY PARTNERS, LLC IN THE AMOUNT OF UP
TO $9,917.59 FROM WEST SIDE — CORE AREA TAX INCREMENT FUNDS TO ASSIST
THE REDEVELOPMENT OF BLIGHTED PROPERTY AT 1110 HUSKY STREET,
KALISPELL, MONTANA.
WHEREAS, on October 17, 2017, based upon the recommendation of the Kalispell Urban
Renewal Agency (URA), the Kalispell City Council approved Resolution 5843 to
assist applicant, Husky Partners, LLC, the owner of subject property located at 1110
Husky Street, Kalispell, Montana, with funding derived from the West Side — Core
Area tax increment district in the amount of $76,862.60 to assist in the redevelopment
project; and
WHEREAS, the subject property development is a $2.2 Million project located within the West
Side Urban Renewal District boundary that consists of multi -family housing that
addresses a need for rental housing in the area as proposed in the urban renewal
plan and that otherwise meets multiple Tax Increment Financing eligibility
criteria; and
WHEREAS, the (URA) has since made the recommendation, based upon the application of Husky
Partners, LLC, that infrastructure improvements in the amount of $9,917.59 is also
eligible for reimbursement from West Side — Core Area tax increment funds and
should be considered to assist in this redevelopment project.
NOW THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
KALISPELL, MONTANA, AS FOLLOWS:
SECTION 1. The City Manager is hereby
additional $9,917.59 of West
reimbursing Husky Partners, I
by them on the development
currently before the Council.
authorized to commit the use of up to an
Side — Core Area tax increment funds for
�C for tax increment eligible costs expended
project described in the application that is
SECTION 2. The City Manager shall make annual reimbursement payments to Husky
Partners, LLC only from tax increment revenues generated by the project at
II10 Husky Street, Kalispell Montana and shall only make such payments
from the West Side — Core Area increment funds remaining after the City has
covered debt service for bonds related to previously approved projects and
bonds associated with obligations of any TIGER grant funded project.
PASSED AND APPROVED BY THE CITY COUNCIL AND SIGNED BY THE MAYOR OF THE
CITY OF KALISPELL, THIS 20TH DAY OF NOVEMBER 2017.
Mark Johnso
Mayor
ATTEST:
AirAee Brunckhorst, CMC
City Clerk