Speaking Out

Establishing park has financial advantages

The City of Columbia Falls is negotiating the purchase of 28 acres with 900 feet of Flathead Riverfront. The long-term use for the property will be a community park space. These are just a few of the financial advantages this acquisition will bring to the community:

A prudent financial decision.

? Investing the Cedar Creek Trust funds in real estate will prove to be a very wise investment. Real estate returns are far better than the 5 percent the Trust currently hopes to earn, and the security of land holdings provides risk protection while not limiting the City’s options in the future. Simple land appreciation values in the Flathead Valley have exceeded 10 percent for years and all signs show that trend will continue. Real estate has always been a secure and lucrative way to invest your money.

? The riverfront park will be a financial asset to the City in multiple ways. A destination park in the heart of Columbia Falls, with river access and all that the park will offer, will increase all property value, for individuals and companies alike.

? A riverfront park in Columbia Falls will create economic opportunities. Park space — especially premium space such as this — improves the overall commercial economy for a town. The goal is to not only create a more succinct community in Columbia Falls, but to draw people to our unique town, and have them put their interest and money into our economy, through shopping, investments, recreation, etc.

? Park space such as this will help establish Columbia Falls as a destination point, attracting not only Valley residents, but international visitors.

? This park will serve as a catalyst for economic development in Columbia Falls.

? The City will likely see increased revenue as a result of the development of this park, as overall property values increase, commercial activity increases and more visitors come to town — all resulting in increased tax revenue for the City.

? In all likelihood, it will be public/private partnerships or purely private endeavors that fund the development of the park, meaning the City will not have to pay for improvements to the park.

? Land is real; tangible. Land acquisitions often serve as a catalyst for private investment — adding an amenity like this park will spur private investment in our community

There are endless examples of potential partnerships that could be created to develop a park space along the riverfront. Some possibilities include:

? Private fundraising — groups such as the First Best Place Task Force raise money to fund improvements, events, programs utilizing the space.

? Agencies which promote tourism/economic development; eg: Travel Montana, Glacier Country, Montana West Economic Development, etc.

Submitted by First Best Place Task Force