Resolution 5424 - NOT ACTED ON - West Side TIF DistributionJune 7, 2010 — Tabled to August 16, 2010
August 16, 2010 — Not Acted On
RESOLUTION NO.5424
A RESOLUTION AUTHORIZING THE DISTRIBUTION OF $1,500,000 FROM THE CITY OF
KALISPELL WESTSIDE TAX INCREMENT FINANCING DISTRICT FUND TO THE AFFECTED
TAXING BODIES PURSUANT TO MCA 7-15-4291.
WHEREAS, on the 1 lth day of March 1997 the Kalispell City Council passed Ordinance 1259 approving
the Westside Urban Renewal Plan for the City of Kalispell, Montana as an urban renewal
plan; providing for the segregation and application of tax increment in the Westside Urban
Renewal Plan and authorizing the City Manager to implement the Plan with the powers
contained in the urban renewal law; and
WHEREAS, the Westside Tax Increment Financing District Fund has been utilized, among other things, to
finance a bond used for infrastructure improvements within the District and such bond shall
be retired before the end of the current fiscal year and there are no other legal demands upon
the Fund for costs under MCA 7-15-4288 or for debt service under MCA 7-15-4289; and
WHEREAS, there are currently no urban renewal project requests before the Council that meet its criteria
for the use of the Westside Tax Increment Financing District Fund; and
WHEREAS, there is currently $1,782,752 cash on hand in the Fund and it is anticipated to receive an
additional $450,000 in receipts before the end of the 2011 fiscal year; and
WHEREAS, the City is authorized, pursuant to MCA 7-15-4291 to remit to the other affected taxing bodies
any portion of the tax increment not currently required for the payment of the costs listed in
MCA 7-15-4288 or pledged to the payment of the principal of premiums, if any, and interest
on the bonds referred to in MCA 7-15-4289; and
WHEREAS, the City fiscal year 2010 budget appropriated $1,500,000 for redevelopment contingency
which includes the budget authority to make a distribution to all of the affected taxing bodies;
and
WHEREAS, the Kalispell City Council finds that it is in the best interests of the City and its citizens to
remit the sum of $1,500,000 to the affected taxing bodies prior to the end of the 2010 fiscal
year.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF KALISPELL AS
FOLLOWS:
SECTION I. That prior to the end of the 2010 fiscal year, the City of Kalispell shall remit from its
Westside Tax Increment Financing District Fund the sum of $1,500,000 to the
affected taxing bodies as set forth in Exhibit "_" attached hereto and incorporated
fully herein by this reference.
PASSED AND APPROVED BY THE CITY COUNCIL AND SIGNED BY THE MAYOR OF THE CITY
OF KALISPELL, THIS 16TH DAY OF AUGUST, 2010.
ATTEST:
Theresa White
City Clerk
Tammi Fisher
Mayor
EXHIBIT "A"
WESTIDE TIF distribution
2009 Reals
$
1,500,000.00
Consolidated
0.070460
10.46%
$
156,949.78
Co. Health
0.005000
0.74%
$
11,137.51
Gen Schools
0.101030
15.00%
$
225,044.52
Noxious weed
0.000450
0.07%
$
1,002.38
911 G. O. Bond
0.001920
0.29%
$
4,276.80
Flathead High
0.092380
13.72%
$
205,776.63
Sheriff
0.029200
4.34%
$
65,043.06
Kal Mosquito
0.000500
0.07%
$
1,113.97
Board of Health
0.005590
0.83%
$
12,451.74
Univ
0.006000 exempt
$
-
Univ
0.040000
5.94%
$
89,100.08
FVCC
0.015270
2.27%
$
34,013.95
FVCC Med. Levy
0.000420
0.06%
$
935.55
Kal elem 75
0.141370
20.99%
$
314,901.94
City health
0.015200
2.26%
$
33,858.03
City
0.154610
22.96%
$
344,394.07
Mill levies
0.6794001
100.00%
$
1,500,000.00
less exempt
-0.006000
0.6734001