08. Community DevelopmentFund #
2188
Tax Increment Fund -Westside
$
2,161,740
2310
Old School Station Tech TIF
$
47,550
2311
Old School Station Industrial TIF
$
14,000
2880
Community Development Loan Revolving
$
190,776
2886
Community Development Fund
$
228,660
2887
Rural Development Revolving Fund
$
218,918
2888
Rural Development Revolving Fund #2
$
47,575
2944
CDBG-ED Flathead Valley Community College
$
81,518
2953
CDD EPA Grant
$
400,000
2882
Courtyard Maintenance
$
125,000
$
3,515,737
217
WESTSIDE TAX INCREMENT DISTRICT "C1/
FUND: 2188
PROJECTED REVENUE AND FUND SUMMARY
BEGINNING CASH
10100 Operating
Total Cash
REVENUES
381030 URBAN RENEWAL BONDS-15 yr
383001 Operating Transfer from Debt Fund 3188
Total Revenue
Total Available
EXPENDITURES
Redevelopment Activities
Construction
Total Expenditures
ENDING CASH
Operating
ACTUAL
BUDGET
ACTUAL
BUDGET
FY07/08
FY08/09
FY08/09
FY09/10
$1,301,576
$1,573,348
$1,573,348
$1,674,567
$1,301,576
$1,573,348
$1,573,348
$1,674,567
$0
$320,000
$1,500,000
$350,000
$0
$350,000
$0
$487,173
$320,000
$1,850,000
$350,000
$487,173
$1,621,576
$3,423,348
$1,923,348
$2,161,740
$40,775
$7,453
$1,643,506
$515,571
$68,602
$180,179
$1,542,690
$619,050
$48,228
$2,159,077
$248,781
$2,161,740
$1,573,348
$1264,271
$1,674,567
$0
All Increment is required to be receipted in to the Debt Service Fund. If there is excess
increment available after meeting all of the requirements of the debt service fund it
is transferred to this fund.
218
WESTSIDE TAX INCREMENT DISTRICT
FUND: 2188
EXPENDITURE SUMMARY
ACTUAL
BUDGET
ACTUAL
BUDGET
FY07/08
FY08/09
FY08/09
FY09/10
Personal Services $24,199
$36,130
$34,011
$10,000
Redevelopment activity $16,576
$1,607,376
$34,591
$1,532,690
Capital Improvements $7,453
$515,571
$180,179
$619,050
$48,228
$2,159,077
$248,781
$2,161,740
PROGRAM DESCRIPTION
The Westside Urban Renewal District was created to help redevelop the Gateway Mall area and assist with the Storm
drainage problems in the area. The major activity to date has been the Stream Project which included the City's participation
in the purchase of a portion of the Mall building and rehabilitation of the site. Stream vacated the site and
the site is now occupied by the Teletech organization.
All tax increment revenue is directed to the debt service fund (Fund 3188) to pay bonds which the City funded through a State
program with the board of investments. Increment in excess of debt needs will be transferred back to the Tif District.
FY 2009 BUDGET ACCOMPLISHMENTS
Glenwood Drive Storm Drainage Construction project went out for bid in March 2009. Construction to begin in June 2009.
April 2009 intiated the contract for the 3 Mile Drive Road Design within the Westside TIF.
The Lower Spring Creek Storm Drainage preliminary design is substantially complete. Currently negotiating for an easement.
FY 2010 BUDGET OBJECTIVES
Parks Department:
930 Greenbriar Parks improvements include a hard surface sports court. The $13,677 budgeted in FY2009
is carried over and added to for construction of a full size hard surface court as requested by the neighborhood.
The total cost of the project including landscaping is $18,180.
con't.
►W'7
11,TESTSIDE TAX INCREMENT DISTRICT
::
FY 2010 BUDGET OBJECTIVES
950 Glenwood Dr Storm Drainage Construction - $135,000
This project is intended to install new facilities in the neighborhoods lying primarily west of Meridian Road to take full
advantage of the new improvements installed as part of the Meridian Road Project. The storm drainage facilities
in these areas and in other areas lying upstream are inadequate and need improvement. City staff designed project
in house FY 07/08, construction to take place FY 08/09.
951 Paving - $30,000
952 PER Lower Spring Creek Storm Drainage - Carryover $40,000 & New Appropriation $65,000
This project has been included in the storm drainage plan for several years. It will relieve pressure on the existing portions of
Meridian Road storm facilities lying south of US 2 that are not being improved by the Meridian Road Project, which is north
of US 2. The Lower Spring Creek Project will divert flow away from the over -taxed pipe in Meridian Road and will lead it
south to the existing drainage south of Appleway Drive. Approximate cost for the preliminary engineering report for this
project is S 130,000.
953 3 Mile Drive Engineering- $187,300
Significant development along 3 Mile Drive over the past several years has greatly increased traffic on an inadequate roadway.
This project is intended to improve 3 Mile Drive from the end of recent improvements done as part of the Meridian Road
Project and will extend to the limits of the Westside Tax Increment District. Preliminary engineering is being done in-house
to determine the actual scope of the project and to determine accurate construction and ROW costs. Improvements
that are required that extend beyond the limits of the Westside TIF will require funding from alternate sources yet to be identified.
220
STSIDE TAX INCREMENT DISTRICT
FUND: 2188
EXPENDITURE DETAIL
COMMUNITY DEVELOPMENT
Personal Services FFE'S
480-470230
110 Salaries-Admin
153 Health
155 Retirement
Total Personal Services
352 Bond Issue Costs
353 Audit
354 Transfer to Port Authority-bldg maint.
356 Appraisals
522 Administrative Transfer
712 IRP loan revolving program
814 Redevelopment/ Housing Land Trust (bond)
955 CD-Redevelopment/unallocated
Total Community Development
PUBLIC WORKS
453430246 Construction Projects
950 Glenwood Drive Construction
951 Paving
952 Lower Spring Creek design
953 3 Mile Drive Road Design
955 DPW-Redevelopment/unallocated
Total Public Works
PARKS DEPARTMENT
436460430 Parks Department
930 Greenbriar Park improvements
934 Hawthorne Park Tennis Court resurface
Total Parks
TOTAL BUDGET
ACTUAL
BUDGET
ACTUAL
BUDGET
FY07/08
FY08/09
FY08/09
FY09/10
0.34
$20,446
$2,493
$1,260
0.15
$29,323
$4,903
$1,904
0.34
$28,119
$4,093
$1,799
0.15
$8,500
$1,000
$500
$24,199
$36,130
$34,011
$10,000
$30,000
$0
$0
$500
$500
$500
$750
$5,000
$5,000
$5,000
$5,000
$338
$22,785
$0
$25,000
$10,738
$29,091
$29,091
$25,000
$50,000
$0
$0
$1,500,000
$0
$0
$1,500,000
$16,576
$1,607,376
$34,591
$1,555,750
$3,653 $135,000
$0
$135,000
$30,000
$30,584
$30,000
$96 $105,000
$64,640
$40,000
$187,300
$40,374
$146,926
$1,223,000
$0
$225,884
$3,749 $457,300 $135,598 $577,810
$1,952
$1,752
$13,677
$44,594
$0
$44,581
$18,180
$0
$3,704
$58,271
$44,581
$18,180
$48,228 $2,159,077 $248,781 $2,161,740
221
2310 OLD SCHOOL STATION TIF-TECHNOLOGY "G"
FUND: 2310-480-470210
PROJECTED REVENUE AND FUND SUMMARY
BEGINNING CASH
Operating Cash -Redevelopment
REVENUES
311110 Real Estate Property Taxes
311200 Personal Property Taxes
315000 Penalty & Interest
Total Revenue
Total Available
Redevelopment activities
Operating Transfer -debt service pledge
Total Expenditures
ENDING CASH
10100 Operating Cash -Redevelopment
ACTUAL
BUDGET
ACTUAL
BUDGET
FY07/08
FY08/09
FY08/09
FY09/10
$160 $6,239 $6,239 $19,735
$11,023
$42
$14
$28,000
$790
$10
$26,952
$42
$2
$27,000
$800
$15
$11,079
$28,800
$26,996
$27,815
$11,239
$35,039
$33,235
$47,550
$5,000
$35,000
$0
$13,500
$950
$46,600
$5,000
$35,000
$13,500
$47,550
$6,239
$39
$19,735
$0
222
2310 OLD SCHOOL STATION TIF-TECHNOLOGY "G®'
FUND: 2310-480-470210
EXPENDITURE DETAIL/Summary
COMMUNITY DEVELOPMENT
354 Contract Services- Bond Counsel
790 Redevelopment activity
Total Community Development
820 Operating transfer to SID debt Service
ACTUAL
BUDGET
BUDGET
FY07/08
FY08/09
FY09/10
$950
$0 $20,000 $0
$0 $20,000 $950
$5,000 $15,000
$5,000 $15,000
$46,600
$46,600
TOTAL BUDGET $5,000 $35,000 $47,550
PROGRAM DESCRIPTION
The Technology TIF was created to enable the development of the Tech Park by using the taxes paid
by the property owners to pay down the infrastructure SID debt. Additionally the tax revenue
generated can be used for other redevelopment activities as provided by Montana law and the developer agreement.
Funds transferred to the SID 344 Debt Service fund will be held and utilized only in the case of an
approved developer's agreement.
223
2311 OLD SCHOOL STATION TIF-INDUSTRIAL "H11
FUND: 2311-480-470210
PROJECTED REVENUE AND FUND SUMMARY
BEGINNING CASH
10100 Cash Operating -Redevelopment
REVENUES
311100 Real Estate Taxes
311200 Penalty & Interest
Total Revenue
Total Available
EXPENDITURES
Redevelopment activities
Operating transfer to SID debt Service -pledged
Total Expenditures
ENDING CASH
10100 Operating Cash -Redevelopment
ACTUAL
BUDGET
ACTUAL
BUDGET
FY07/08
FY08/09
FY08/09
FY09/10
$160
$3,106
$3,106
$6,737
$6,318
$17
$7,500
$0
$7,261
$0
$7,263
$0
$6,335
$7,500
$7,261
$7,263
$6,495
$10,606
$10,367
$14,000
$3,389
$10,500
$0
$3,630
$0
$14,000
$3,389
$10,500
$3,630
$14,000
$3,106
$106
$6,737
$0
224
2311 OLD SCHOOL STATION TIF-INDUSTRIAL "'®
FUND: 2311480-470210
EXPENDITURE DETAIL/Summary
COMMUNITY DEVELOPMENT
790 Redevelopment activity
Total Community Development
820 Operating transfer to SID debt Service -pledged
ACTUAL
BUDGET
BUDGET
FY07/08
FY08/09
FY09/10
$3,500 $7,000
$3,500 $7,000
$0
$0
$3,500 $3,500 $14,000
$3,500 $3,500 $14,000
TOTAL BUDGET $7,000 $10,500 $14,000
PROGRAM DESCRIPTION
The Industrial TIF was created to enable the development of the Tech Park by using the taxes paid
by the property owners to pay down the infrastructure SID debt. Additionally the tax revenue
generated can be used for other redevelopment activities as provided by Montana law and the developer agreement.
225
COMMUNITY DEVELOPMENT -REVOLVING FUND
FUND: 2880-480-470210
PROJECTED REVENUE AND FUND SUMMARY
BEGINNING CASH
10100 Cash, Operating
10162 Cash, Reserve for investment (S&C)
10105 Cash, * Downtown revitalization
REVENUES
373020
Loan Proceeds/Principal (CDBG/Rehab)
373010
Loan Proceeds/ -Interest (CDBG Rehab/Center St )
373021
Loan Proceeds/Hilton-Principal
373022
Loan Proceeds/Distinctive Countertops
373023
Loan Proceeds/Flathead Health & Fitness
373012
Int/IRP loans (Hilton, Fltd Fitness, Distinct Counter)
373013
Interest CDBG-ED Distinctive Countertops
373030
Loan Proceeds/ CDBG-ED
373060
*Center Street loan (PAYOFF 2010)
373070
Loan to Street Dept. 4.85% interest rate
371010
Interest Earnings
Total Revenue
Total Available
*Redevelopment Distribution
Redevelopment
Capital Improvements
Total Expenditures
ENDING CASH
10100 Cash, Operating
10162 Cash, Reserve for investment
10105 Cash, * Downtown revitalization
TOTAL CASH
ACTUAL
BUDGET
ACTUAL
BUDGET
FY07/08
FY08/09
FY08/09
FY09/10
$226,370
$123,416
$123,416
$130,623
$59,844
$64,532
$64,532
$68,939
$2,666
$7,185
$7,185
$0
$288,880
$195,133
$195,133
$199,562
$14,893
$3,134
$3,402
$3,230
$2,471
$1,614
$1,873
$1,367
$14,025
$18,274
$18,274
$20,292
$1,008
$1,072
$616
$1,331
$3,802
$4,066
$4,093
$4,275
$13,461
$13,416
$13,252
$10,815
$9,496
$13,679
$8,064
$5,616
$11,129
$13,820
$7,977
$5,843
$4,519
$4,996
$4,995
$25,776
$16,000
$20,000
$18,462
$18,328
$10,449
$6,000
$8,101
$6,000
$101,253
$100,071
$89,109
$102,873
$390,133
$295,204
$284,242
$302,435
$0
$5,088
$12,180
$25,776
$165,000
$115,000
$57,500
$165,000
$30,000
$55,000
$15,000
$0
$195,000
$175,088
$84,680
$190,776
$123,416
$48,491
$130,623
$42,720
$64,532
$64,532
$68,939
$68,939
$7,185
$7,093
$0
$0
$195,133
$120,116
$199,562
$111,659
226
Community Development operations (old U A)
FUND: 2886-480-470210
PROJECTED REVENUE AND FUND SUMMARY
BEGINNING CASH
10100 CASH: operating
10161 Investment*
REVENUES
373075
United Way -loan repayment & payoff
373070
Big Sky Manor -loan repayment
371010
Interest/Misc.
373010
Interest from Loans
331170
Historic Preservation Grant
331018
CDBG -survey grant
331019
CDBG grant Admin - Youth shelter
383000
Admin Transfer In from 2944 FVCC Grant
11324
Advance to Light District (loan repayment)
Total Revenue
Total Available
Operating Budget
Redevelopment/Grants*
Total Expenditures
ENDING CASH
10100 CASH: operating
10161 Investment*
TOTAL CASH
ACTUAL
BUDGET
ACTUAL
I
BUDGET
I
FY07/08
FY08/09
FY08/09
FY09/10
($1,835)
$18,436
$18,436
$143,500
$689,165
$489,165
$489,165
$389,165
$687,330
$507,601
$507,601
$532,665
$5,555
$5,899
$95,654
$6,263
$5,450
$5,729
$5,729
$6,022
$28,793
$15,000
$10,715
$10,000
$10,292
$9,670
$9,043
$9,014
$500
$11,000
$15,000
$0
$0
$0
$27,000
$27,508
$0
$32,632
$3,468
$15,000
$15,000
$15,000
$14,000
$80,090
$78,298
$196,781
$59,767
$767,420
$585,899
$704,382
$592,432
$255,230
$331,288
$164,276
$193,368
$4,589
$74,000
$7,441
$39,500
$259,819
$405,288
$171,717
$232,868
$18,436
$1,446
$143,500
$359,564
$489,165
$179,165
$389,165
$0
$507,601
$180,611
$532,665
$359,564
228
Community Development Fund (old UDAG)
FUND: 2886480-470210
EXPENDITURE SUMMARY
ACTUAL
BUDGET
ACTUAL
BUDGET
FY07/08
FY08/09
FY08109
FY09/10
Personal Services
$145,218
$219,328
$112,180
$117,670
Materials and Services
$110,012
$111,960
$52,096
$75,698
Grants
$4,589
$74,000
$7,441
$39,500
$259,819 $405,288 $171,717 $232,868
PROGRAM DESCRIPTION
The eligible uses of program income include all of the activities currently funded by the UDAG program income budget and could
include many other activities related to planning and implementing economic and community development programs.
FY 2010 BUDGET OBJECTIVES
Indentify and partner with local and out of state businesses to grow operations (Economic Gardening);
Identify strategies to create jobs and investment in the Community;
Partner w/ business and organizations to leverage funds from grants and loans;
* Create CORE area neighborhood planning projects to protect the housing stock;
Encourage and promote historic preservation;
* Manage and administer CDBG grants, loans and the local revolving loan funds;
Provide administration assistance to the Airport Manager;
Improve the department's web based data; and
Act as liaison to the Business Improvement District Board, Kalispell Downtown Association
and the Chamber of Commerce.
229
Community Development Fund (old UDAG)
FUND: 2886-480-470210
FY 2009 BUDGET ACCOMPLISHMENTS
* Assisted 8 local and 3 out-of-state businesses with expansion projects;
8 Assisted 5 local businesses with redevelopment opportunities;
'8 Managing the two revolving loan fund programs with 7existing loans;
Managing the Flathead Youth Home Construction partially funded with a CDBG Public Facilities
Grant by monitoring weekly payroll reviews and on -site monitoring of the construction;
Managing the Flathead Valley Community College CDBG Funds for the purchase of CNC
equipment and for supplementing training costs for an aggregate group of manufacturer's in the Valley;
8` Wrote and was awarded a State Historic Preservation Grant to catalog downtown buildings,
expand the current Main Street area historic district, and nominate qualifying properties for the
National Historic Register;
Wrote and awarded two grants from the Big Sky Trust Fund -one for a local manufacturer and the
second for the Public Safety Training Center,
Produced tax increment finance application and defined process for the Old School Station TIF
District -application is accessible via the City website;
* Developed a feasibility analysis of a Community Land Trust;
Assumed the role of liaison between the Montana Department of Environmental Quality as it
relates to the Kalispell Pole Yard;
Submitted 2010 Congressional appropriation requests;
* Provided administrative assistance to the Airport Manager.
FY 2009 BUDGET CONSTRAINTS
In budget year 2008 we lost to attrition two positions-CDBG Manager/Grant Writer and a Revolving
Loan Fund Manager. No discussions at a higher level occurring on how to fund the department as operational
funding continues to diminish.
230
Community Development Fund (old UDAG)
FUND: 2886-480-470210
ACTUAL
BUDGET
ACTUAL
BUDGET
FY07/08
FY08/09
FY08/09
FY09/10
Personal Services: FTE's
3.0
3.0
3.0
1.5
110
Salaries & Wages
$124,698
$179,780
$93,435
$99,282
153
Health Insurance
$15,112
$27,902
$12,965
$11,769
155
Retirement
$5,408
$11,646
$5,780
$6,619
Total Personal Services
$145,218
$219,328
$112,180
$117,670
Materials and Services:
210
Office Supplies
$1,037
$1,100
$360
$500
211
Grant Administration Expenses
$1,000
212
Project Expenses
$3,248
$10,000
$625
$0
213
Small Office Equip.
$460
$200
$131
$200
215
Computer Supplies/website
$919
$3,000
$77
$1,000
218
Other Equipment (non -capital)
$7,320
$1,200
$300
231
Gas & Oil
$230
$1,200
$438
$300
312
Postage
$436
$1,500
$48
$300
320
Printing
$1,025
$10,000
$490
$6,000
331
Advertising for Grant Activities
$335
334
Montana West Membership
$500
335
Membership & Dues
$2,231
$5,000
$1,151
$700
341
Electricity, gas & water
$559
$0
$0
$0
345
Telephone, Communications
$4,925
$500
$940
$750
353
Auditing
$2,500
$2,500
$2200
$1,500
354
Contract Services
$3,655
$2,000
$690
$1,000
355
Prospect Development
$3,000
362
Recruitment & Moving Expense
$15,865
$0
$0
$0
363
Office Equip Maintenance
$0
$350
$0
$100
373
School and Travel
$4,887
$10,000
$4,216
$3,500
379
Meetings
$2,283
$1,700
$590
$500
381
Training
$3,000
$628
$1,500
396
Studies/Surveys & marketing
$30,729
$35,000
$14,821
$25,000
510
Property & Liability Ins. ($500/3,700)
$4,870
$3,000
$3,296
$4,200
521
Central Garage Transfer
$500
$500
$500
$0
522
Administrative Transfers
$6,965
$8,311
$8,996
$10,451
528
Data Processing Transfers
$10,718
$7,199
$7,199
$8,359
531
Office Rent new bldg
$4,650
$4,700
$4,700
$4,703
Total Materials & Services
$110,012
$111,960
$52,096
$75,698
231
Community Development operations (old UDAG)
FUND: 2886-480-470210
EXPENDITURE DETAIL -continued
Grants & Housing:
710 Land Trust Project
711 Historic Preservation Project
790 Redevelopment Activity
Total Grants & Housing
GRAND TOTALS
ACTUAL
BUDGET
ACTUAL
BUDGET
FY07/08
FY08/09
FY08/09
FY09l10
$20,000 $2,064 $18,000
$19,000
$4,589 $54,000 $5,377 $2,500
$4,589
$74,000
$7,441
$39,500
$259,819
$405,288
$171,717
$232,868
232
Community Development Fund (old UAG)
FUND: 2886-480-470210
PERSONNEL SCHEDULE
Fund 2886 Community Development
POSITION TITLE
Community Development Director (currently vacant)
Community Development Manager
Loan officer
Subtotal
PAYROLL TAXES
Total line item 110
Fund 2887 Rural Development Loan Revolving Fund
POSITION TITLE
Loan officer
PAYROLL TAXES
Total line item 110
233
FTE
_ BUDGET
FY09/10
0.50
$35,000
1.00
$51,177
0.20
$7,617
1.70
$93,794
$5,489
0.50 $
$
$99,282
25,390
2,386
27,776
RURAL DEVELOPMENT LOAN REVOLVING
FUND: 2887-480470210
PROJECTED REVENUE AND FUND SUMMARY
ACTUAL
BUDGET
ACTUAL
BUDGET
FY07/08
FY08/09
FY08/09
FY09/10
BEGINNING CASH
10100
CASH: operating $108,572 $312,875
$312,876
$284,300
10140
CASH: loan loss reserve $0 $19,095
$19,095
$16,094
Total Cash $108,572 $331,970
$331,971
$300,394
REVENUES
331045
USDA LOAN #2 $150,000 $492,500
$0
$0
345010
APPLICATION/ORIGINATION FEES * $3,300 $3,250
$250
$0
373010
LOAN INTEREST * $43,406 $32,754
$14,458
$11,429
371010
OTHER INTEREST $2,107 $2,000
$4,265
$2,000
373030
PRINCIPAL $184,332 $46,417
$15,955
$20,029
TOTAL REVENUE $383,145 $576,921
$34,928
$33,458
AMOUNT AVAILABLE $491,717 $908,891
$366,899
$333,852
EXPENDITURES
PERSONAL SERVICES
$2,201
$32,602
REDEVELOPMENT ACTIVITY $153,801 $482,051
$970
$164,241
PRINCIPAL $16,877
$16,706
$17,046
INTEREST $5,946 $6,000
$5,368
$5,029
$159,747 $504,928
$25,245
$218,918
ENDING CASH
10100
CASH: operating $312,875 $365,773
$284,300
$98,840
10140
CASH: loan loss reserve $19,095 $19,095
$16,094
$16,094
( Loan split between fund 2887 & 2888 equity $331,970 $384,868
$300,394
$114,934
transfers of $41,260 cash moved to 2888 FY09)
PROGRAM DESCRIPTION
The purpose of the Revolving Loan Fund (RLF) is to provide gap financing or business retention, expansion or start-up
with the focus on job creation. Funding Sources for the RLF come from possible CDBG Economic Development Grants
TIF, Rural Development Intermediary relending Program (IRP) funds and the Community Development
Revolving Loan
Fund. Department was successful in writing a second Rural Development (RD) grant application for $750,000 from the
RD Intermediary Relending Program (IRP). Funds will be used to provide gap financing to businesses in need of
expansion or start-up. The additional RD funds along with revenue from 5 existing loans, provide access to slightly
over 1 million dollars for gap financing purposes.
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RURAL DEVELOPMENT LOAN REVOLVING
FUND: 2 8 8 7-480-470210
EXPENDITURE DETAIL/SUMMARY
Personal Services:
110
Salaries
153
Health
155
Retirement
Total Personal Services
Grants & Loans:
750
Redevelopment Activity
Total Redevelopment activity
Debt Service:
610
Principal
620
Interest of Rural Dev. Loans 1 %
Total Debt Service
ACTUAL
BUDGET
ACTUAL
BUDGET
FY07/08
FY08/09
FY08/09
FY09/10
0.5
$3,115
$5,471
$2,068
$27,777
$466
$604
$0
$3,030
$199
$353
$133
$1,795
$3,780
$6,428
$2,201
$32,602
$150,021
$475,623
$970
$164,241
$150,021
$475,623
$970
$164,241
$16,877
$16,706
$17,046
$5,946
$6,000
$5,368
$5,029
$5,946
$22,877
$22,074
$22,075
Total budget $159,747 $504,928 $25,245 $218,918
FY 2010 BUDGET OBJECTIVES
Will continue to seek applications of bank qualified loans to assist in "gap financing" to business creating jobs
and investment utilizing program income from past loans.
Manage the existing loan portfolio.
FY 2009 BUDGET ACCOMPLISHMENTS
Worked with City Treasurer to update and transfer financial management of the loan financial portfolio to the Treasurer's office.
Worked with USDA and City Treasurer to improve the operations of the program.
Organized meetings between the City's Loan Committee, staff and businesses.
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RURAL DEVELOPMENT LOAN REVOLVING #2
FUND: 2888-480470210
ACTUAL BUDGET
FY08/09 FY09/10
BEGINNING CASH
10100 CASH: operating ($41,260 from Fund 2887) $41,260 $59,801
10140 CASH: loan loss reserve $0 $12,910
(Beginning cash transferred from 2887 to separate loan funds) $41,260 $72,711
REVENUES
345010
APPLICATION/ORIGINATION FEES *
$500
$0
373010
LOAN INTEREST *
$11,801
$6,923
371010
OTHER INTEREST
$741
$800
373030
PRINCIPAL-KAL HOTEL
$20,984
$20,292
TOTAL REVENUE
$34,026
$28,015
AMOUNT AVAILABLE
$75,286
$100,726
EXPENDITURES
610
INTEREST REPAYMENT TO IRP
$2,575
$2,575
750
REDEVELOPMENT ACTIVITY
$45,000
$2,575
$47,575
ENDING CASH
10100
CASH: operating
$59,801
$40,241
10140
CASH: loan loss reserve
$12,910
$12,910
$72,711
$53,151
The purpose of the Revolving Loan Fund (RLF) is to provide gap financing or business retention, expansion or start-up
with the focus on job creation. Funding Sources for the RLF come from possible CDBG Economic Development Grants
TIF, Rural Development Intermediary relending Program (IRP) funds and the Community Development Revolving Loan Fund.
Department was successful in writing a second Rural Development (RD) grant application for $750,000 from the RD Intermediary
Relending Program (IRP). Funds will be used to provide gap financing to businesses in need of expansion or start-up.
The additional RD funds along with revenue from 5 existing loans, provide access to slightly over I million dollars for gap
financing purposes.
236
CDBG -ED for Flathead Valley Community College
BEGINNING CASH
CASH: operating
REVENUES
331015 GRANT
Total Available
EXPENDITURES
Total Expenditures
ENDING CASH
CASH: operating
ED Grant:
Materials and Services:
820 Administration transfer to Comm Development
Total Materials & Services
780 Training costs
790 Machinery/equipment
BUDGET
ACTUAL
BUDGET
FY08/09
FY08/09
FY09/10
$0 $0 $0
$166,860 $85,342 $81,518
$166,860 $85,342 $81,518
$166,860 $85,342 $81,518
$166,860 $85,342 $81,518
$0 $0 $0
BUDGET
ACTUAL
BUDGET
FY08/09
FY08/09
FY09/10
GRAND TOTALS
PROGRAM DESCRIPTION
Pass thm grant for the college to purchase equipment used in training programs.
$12,360 $8,932 $3,428
$72,000 $72,000
$82,500 $76,410 $6,090
$166,860 $85,342 $81,518
237
EPA BROWNFIELDS REVITALIZATION GRANT
2953480-470210
�J Zi�l1 �C11111 �l 1����j�r`� ij�/ ► 1 �li�►il7.Yilu iu �f•/
BUDGET
FY09110
BEGINNING CASH
10100 CASH $0
REVENUE
331090 EPA FUNDING $400,000
Total Revenue $400,000
TOTAL AVAILABLE $400,000
EXPENDITURES
780 Site Assessment Grants $400.000
ENDING CASH
CASH $0
PROGRAM OF SERVICES
The City has been awarded $400,000 for Brownfield Revitalization Project funds to be used
for planning sessions, community education, and cleanup planning.
238
COURTYARD ITEANCE
FUND: 28 82-480-470240
BEGINNING CASH
CASH: operating
REVENUES
Gross Rent Receipts
Total Available
EXPENDITURES
Property Management Cost:
Debt Service:
Total Expenditures
ENDING CASH
CASH: operating
EXPENDITURE SUMMARY / DETAIL
480 470240
354 Maintenance & Operations
480 490500
620 Debt Service
ACTUAL
BUDGET
ACTUAL
BUDGET
FY07/08
FY08/09
FY08/09
FY09/10
$45,279
$47,932
$47,932
$36,284
$77,311
$85,000
$72,061
$91,000
$122,590
$132,932
$119,993
$127,284
$48,568
$26,090
$70,000
$30,000
$58,893
$24,816
$95,000
$30,000
$74,658
$100,000
$83,709
$125,000
$47,932
$32,932
$36,284
$2,284
ACTUAL
BUDGET
ACTUAL
BUDGET
FY07/08
FY08/09
FY08/09
FY09/10
$48,568 $70,000 $58,893 $75,000
$20,000
$26,090 $30,000 $24,816 $30,000
$74,658 $100,000 $83,709 $125,000
PROGRAM DESCRIPTION
The Courtyard Maintenance Reserve Fund is budgeted to reflect those costs which are incurred related to our 16 units of housing
managed by Community Action Partnership of Northwest Montana. The revenues reflect rent received.
The utilities and debt services costs will all be paid by Community Action Partnership per the joint venture agreement
with them to manage this housing complex. We need budget authority to simply record the City's share.
This is the City's equity in the project.
239