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Resolution 4145 - Adopt Overall Economic Development PlanRESOLUTION NO. 4145 A RESOLUTION ENDORSING AND ADOPTING THE GOALS AND OBJECTIVES OF THE 1994 OVERALL ECONOMIC DEVELOPMENT PLAN UPDATE. WHEREAS, the Overall Economic Development Plan is a locally initiated planning process designed to create employment opportunities, foster more stable and diversified local economies, improve local conditions, identify community facilities and infrastructure needs, and provide a mechanism for guiding and coordinating the efforts of local individuals and organizations concerned with the economic development of their area; and WHEREAS, the Overall Economic Development Plan Update 1994 describes the area's Overall Economic Development Program and charts the course of development action by examining the problems, needs and resources for the area and sets forth the goals of the development program, together with the strategy devised to achieve these goals; and WHEREAS, public participation was solicited to ensure representation throughout the Flathead Valley area; and WHEREAS, the goals and strategies of the 1994 Update were prepared by individual committees and have taken into consideration the diversification of the country's economy; and WHEREAS, the course of action also takes into consideration past development efforts, the area's economy, the potential for economic development in developing the strategies necessary for financing and management in the major areas outlined in the 1994 Update; and WHEREAS, since the publication of the 1994 OEDP document, certain additional projects have been identified for inclusion into an updated version of the plan. Those specific projects include: Central Business District Parking Improveme is - A substantial shortage of off-street parking sodues currently exists in the downtown. To stimulate economic vitality and job expansion, additional parking spaces must be created to make shopping convenient for the customer and keep the downtown competitive. Acquisition of land, site improvements and construction of a parking garage will require substantial capital expenditures from a variety of funding sources. Equity Supply Relocation -- The farmer's cooperative recognizes the need to upgrade their facilities. They also recognize the location of grain elevators in the heart of the downtown is no longer the highest and best use for their property nor for the downtown. Their board 1 M 781 Is exploring options to relocate northeast of Kalispell in a more industrial setting along existing railroad tracks. The relocation would require new rail siding, access roads, sewer and water systems, and demolition/ relocation of existing buildings and equipment. Financing of the infrastructure improvements will be a critical component of making this prime land available in the CBD for expansion of retail goods and services stimulating new jobs. Track Removal - A spur line of Burlington Northern Railroad currently runs east -west through the heart of the CBD. Several major redevelopment projects are on hold or seeking other locations because of the barrier the tracks present in the expansion of retail and services. The City is willing to assist in the relocation of businesses served by the spur line and removal of the track. Additional funding sources are needed to facilitate the removal of this barrier to economic and job stimulation. Kalispell Center Mall - This major retail complex has proven to be a highly effective and profitable UDAG project, and is in need of additional room for expansion of major anchor tenants, retail specialty shops and convention facilities and rooms at Cavanaugh's Inn at the Center. To facilitate the expansion of jobs and retail, land is necessary for buildings and parking. Currently, the Burlington Northern Railroad spur line presents a barrier to the expansion and will need to be removed to stimulate the multi -million dollar project. Kalispell Market Place - This highly visible and succepsful EDA project can achieve even greater success with the track removal. Additional land could be better utilized for retail expansion and off• -street parking. Fred Meyer Complex - This long time retail anchor is in need of additional room for expansion and upgrading of facilities. Currently, their site is landlocked and any expansion would require major land assemblage and infrastructure improvements. Without the assistance of redevelopment funds, the complex will probably lose its presence in Kalispell. NOW THEREFORE let it be resolved that the City of Kalispell hereby commends the OEDP 1994 Update Committees and endorses and adopts the goals and objectives of the 1994 Update as they relate to the City of Kalispell, Montana and to the Flathead Valley area. E 782 PASSED AND APPROVED BY THE CITY COUNCIL AND MAYOR OF THE CITY OF KALISPELL THIS 2� 1 st DAY OF March r Dougl D. Rauther Mayor ATTEST: 7 Amy H. Robertson Finance Director 1 m