Resolution 4447 - Policy for Use of Funds in West Side Urban Renewal AreaRESOLUTIONS NO. 4447
A RESOLUTION DESIGNATING A POLICY REGMWING THE USE OF FUNDS
GENERATED FROM THE WEST SIDE URBAN RENEWAL PLAN
WHEREAS, the City of Kalispell adopted an Urban Renewal Plan
entitled the West Side Urban Renewal Plan dated March
17th, 1997, and
WHEREAS, the City did not appropriate tax increment funds accruing
to said Plan for the 1999 fiscal budget, and
WHEREAS, it is currently estimated that the West Side Urban
Renewal Plan will generate $180,000 during the 1999
fiscal year, and
WHEREAS, the City Council desires to commit certain revenue
accruing under the said Plan to fund certain improvements
for the Westbrook Square Project being developed by City
Service, Inc., and
WHEREAS, the City has identified infrastructure needs in the West
Side Urban Renewal Plan area, namely storm sewer, road
improvements, street improvements and park improvements
estimated to cost more than $1,815,000, and
NOW, THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
KALISPELL, MONTANA, AS FOLLOWS:
SECTION I. Tax funds generated under the West Side Urban
Renewal Plan will be used primarily for the
construction of public infrastructure
improvements within public rights -of -way, or
as otherwise provided for by law, as outlined
in the City's annual budget or as approved by
the City Council pursuant to Developers'
Agreements.
SECTION II. Requests received by the City staff for
financial assistance within the West Side
Urban Renewal Plan area shall be reviewed by
the staff and placed upon a City Council
Agenda for consideration, at which time the
Council will accept, reject or modify the
request for assistance.
SECTION III. The City will endeavor to sell tax increment
bonds for major projects, designated by
Council, within the West Side Urban Renewal.
Plan, whenever said projects are deemed
feasible, and said projects require more funds
that the City has available.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF KALISPELL,
AND SIGNED BY THE MAYOR THIS 16T11 DAY OF FEBRUARY, 1999.
WM-E .5aharski .
Wm. E. Boharski
Mayor
ATTEST:
Theresa White
Clerk of Council