Council session to consider development details

At a work session tonight, the Kalispell City Council will meet with the Flathead County Economic Development Authority to hammer out details on the upcoming Core and Rail Redevelopment project.

The city and the authority have been partners on the project since its inception in 2012. In October, the U.S. Department of Transportation awarded the project a $10 million grant to initiate the beginning phases. Funding from the city, the authority, the rail line owners and private investment will produce another $11.8 million.

Monday’s work session will cover four main objectives:

Reviewing the general components of the project; updates from both groups on the projected time line; reviewing funding sources available for project components; and identifying respective partnership activities.

So far, one of the biggest missing pieces for funding is related to relocating the current rail-served businesses to the new Glacier Rail Park on the eastern edge of Kalispell. To help alleviate the cost of moving, the Economic Development Authority has applied for the new market tax credit program with the Montana Community Development Corporation.

The new market tax credits have helped fund large projects such as the Red Lion Hotel in Polson.

Outside the new market tax credits, other funding sources are available. The Economic Development Authority is considering applying for a loan through the Federal Rail Administration as another option to defray the cost of relocating businesses.

Montana Community Development Corporation is expected to announce awards for new market tax credits this month, according to Kim Morisaki, a spokeswoman for the Economic Development Authority.

The work session begins at 7 p.m. at City Hall, 201 First Ave. E.

Reporter Seaborn Larson may be reached at 758-4441 or by email at slarson@dailyinterlake.com.