KALISPELL - The plan to remake downtown Kalispell was passed a few weeks ago but there is still a lot to go through in the 57-page document.
One key component of the plan is the implementation of a Tax Increment Finance District (TIF), a tool that allows municipalities to use increased tax value where it is being taken from.
A TIF district increases property taxes on buildings due to development and that increased revenue goes back into paying for projects in that district, rather than the taxes going to the city, county or school district.
A TIF in downtown Kalispell would be used to pay for a lot of the projects that are in the plan.
Some of the projects outlined in the plan that could be paid for from a TIF include:
Kalispell is already using a TIF district in the core area to help relocate Cenex, Northwest Drywall and Roofing Company and build the pedestrian trail.
City Planning and Building Director Tom Jentz says Montana has already seen success with TIF’s and that it will ultimately help the local community.
“Local communities in Montana have used it for incredibly positive results. It takes a while to build this funding tool but council supports these types of things. It’s a local tool helping local businesses,” Jentz said.
Click here to view the new plan for downtown Kalispell.
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