HomeMy WebLinkAboutNorth Central Plan 4816-0674-2473 v.5
URBAN RENEWAL PLAN FOR THE
NORTH CENTRAL URBAN RENEWAL PROJECT
THE URBAN RENEWAL AGENCY OF THE CITY OF REXBURG, ALSO KNOWN AS
THE REXBURG REDEVELOPMENT AGENCY
CITY OF REXBURG, IDAHO
Ordinance No. ________
Adopted _________
Effective _________
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TABLE OF CONTENTS
Page
100 INTRODUCTION .............................................................................................................. 1
101 General Procedures of the Agency ......................................................................... 4
102 Provisions Necessary to Meet State and Local Requirements: Conformance with
Idaho Code Sections 50-2008 and 50-2906 ............................................................ 5
103 History and Current Conditions of the Area ........................................................... 6
104 Purpose of Activities ............................................................................................... 7
105 Open Land Criteria ................................................................................................. 9
200 DESCRIPTION OF PROJECT AREA ............................................................................. 10
300 PROPOSED REDEVELOPMENT ACTIONS ................................................................ 10
301 General .................................................................................................................. 10
302 Urban Renewal Plan Objectives ........................................................................... 13
303 Participation Opportunities and Agreement.......................................................... 14
303.1 Participation Agreements .......................................................................... 14
304 Cooperation with Public Bodies ........................................................................... 16
305 Property Acquisition ............................................................................................. 17
305.1 Real Property ............................................................................................ 17
305.2 Personal Property ...................................................................................... 18
306 Property Management .......................................................................................... 19
307 Relocation of Persons (Including Individuals and Families), Business Concerns,
and Others Displaced by the Project ..................................................................... 19
308 Demolition, Clearance and Site Preparation ......................................................... 19
309 Property Disposition and Development ................................................................ 20
309.1 Disposition by the Agency ........................................................................ 20
309.2 Disposition and Development Agreements .............................................. 20
309.3 Development by the Agency ..................................................................... 21
310 Development Plans ............................................................................................... 22
312 Participation with Others ...................................................................................... 22
313 Conforming Owners.............................................................................................. 23
400 USES PERMITTED IN THE PROJECT AREA.............................................................. 23
401 Designated Land Uses........................................................................................... 23
402 [Reserved] ............................................................................................................. 23
403 Public Rights-of-Way ........................................................................................... 23
404 Interim Uses .......................................................................................................... 24
405 Development in the Project Area Subject to the Plan ........................................... 24
406 Construction Shall Comply with Applicable Federal, State, and Local Laws and
Ordinances and Agency Development Standards ................................................. 24
407 [Reserved] ............................................................................................................. 25
408 Nonconforming Uses ............................................................................................ 25
409 Design Guidelines for Development under a Disposition and Development
Agreement or Owner Participation Agreement .................................................... 25
500 METHODS OF FINANCING THE PROJECT ............................................................... 26
501 General Description of the Proposed Financing Method ...................................... 26
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502 Revenue Allocation Financing Provisions ........................................................ 26
502.1 Economic Feasibility Study ...................................................................... 28
502.2 Assumptions and Conditions/Economic Feasibility Statement ................ 28
502.3 Ten Percent Limitation ............................................................................. 29
502.4 Financial Limitation .................................................................................. 30
502.5 [Reserved] ................................................................................................ 32
502.6 Participation with Local Improvement Districts and/or Business
Improvement Districts .............................................................................. 32
502.7 Issuance of Debt and Debt Limitation ...................................................... 32
502.8 Impact on Other Taxing Districts and Levy Rate ..................................... 32
503 Phasing and Other Fund Sources .......................................................................... 35
504 Lease Revenue and Bonds .................................................................................... 35
505 Membership Dues and Support of Community Economic Development ............ 35
600 ACTIONS BY THE CITY AND COUNTY .................................................................... 36
601 Maintenance of Public Improvements .................................................................. 37
700 ENFORCEMENT ............................................................................................................. 37
800 DURATION OF THIS PLAN, TERMINATION, AND ASSET REVIEW .................... 37
900 PROCEDURE FOR AMENDMENT OR MODIFICATION .......................................... 39
1000 SEVERABILITY .............................................................................................................. 39
1100 ANNUAL REPORT AND OTHER REPORTING REQUIREMENTS .......................... 39
1200 APPENDICES, ATTACHMENTS, EXHIBITS, TABLES ............................................. 40
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Attachments
Attachment 1 Boundary Map of Urban Renewal Project Area and Revenue Allocation
Area
Attachment 2 Legal Description of Urban Renewal Project Area and Revenue Allocation
Area
Attachment 3 Private Properties Which May be Acquired by the Agency
Attachment 4 Map Depicting Expected Land Use and Current Zoning Map of the Project
Area
Attachment 5 Statement of Proposed Public Improvements, Costs, Revenue, Tax
Impacts, and Financing Methods/Economic Feasibility Study
Attachment 5A Estimated Net Taxable Value of New Private Development
Attachment 5B Estimated Annual Revenue Allocations
Attachment 5C Estimated Annual Revenues and Costs
Attachment 6 Agricultural Operation Consents (Without Attachments B and C)
Attachment 7 Madison County Board of County Commissioners Resolution No. 447
(eligibility)
Attachment 8 Rexburg City Council Resolution No. 2020-12 (eligibility)
Attachment 9 Madison County Board of County Commissioners Ordinance No.
_________ (Intergovernmental Agreement and Transfer of Powers
Ordinance)
Attachment 10 Rexburg City Council Resolution No. _______(Intergovernmental
Agreement – Madison County)
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100 INTRODUCTION
This is the Urban Renewal Plan (the “Plan”) for the North Central Urban Renewal Project
(the “Project”) in the City of Rexburg (the “City”), state of Idaho. Attachments 1 through 10
attached hereto (collectively, the “Plan Attachments”) are incorporated herein and shall be
considered a part of this Plan.
The term “Project” is used herein to describe the overall activities defined in this Plan
and conforms to the statutory definition of an urban renewal project. Reference is specifically
made to Idaho Code §§ 50-2018(10) and 50-2903(13) for the various activities contemplated by
the term “Project.” Such activities include both private and public development of property
within the urban renewal area. The North Central Project Area is also referred to as the “Project
Area.”
This Plan was prepared by the Board of Commissioners (the “Agency Board”) of the
Urban Renewal Agency of the City of Rexburg, also known as the Rexburg Redevelopment
Agency (the “Agency”), its consultants, and staff, and reviewed and recommended by the
Agency pursuant to the Idaho Urban Renewal Law of 1965, Chapter 20, Title 50, Idaho Code, as
amended (the “Law”), the Local Economic Development Act, Chapter 29, Title 50, Idaho Code,
as amended (the “Act”), and all applicable local laws and ordinances.
Idaho Code § 50-2905 identifies what information the Plan must include with specificity
as follows:
(1) A statement describing the total assessed valuation of the base assessment roll of
the revenue allocation area and the total assessed valuation of all taxable property
within the municipality.
(2) A statement listing the kind, number, and location of all proposed public works or
improvements within the revenue allocation area.
(3) An economic feasibility study.
(4) A detailed list of estimated project costs.
(5) A fiscal impact statement showing the impact of the revenue allocation area, both
until and after the bonds are repaid, upon all taxing districts levying taxes upon
property on the revenue allocation area.
(6) A description of the methods of financing all estimated project costs and the time
when related costs or monetary obligations are to be incurred;
(7) A termination date for the plan and the revenue allocation area as provided for in
section 50-2903(20), Idaho Code. In determining the termination date, the plan
shall recognize that the agency shall receive allocation of revenues in the calendar
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year following the last year of the revenue allocation provision described in the
urban renewal plan.
(8) A description of the disposition or retention of any assets of the agency upon the
termination date. Provided however, nothing herein shall prevent the agency from
retaining assets or revenues generated from such assets as long as the agency shall
have resources other than revenue allocation funds to operate and manage such
assets.
This Plan includes the above information with specificity.
The Project Area extends beyond the municipal boundary of the City to include parcels in
unincorporated Madison County. Pursuant to Idaho Code Sections 50-2018(18) and 50-2906(1),
the Madison County Board of County Commissioners (the “BOCC”) has deemed the Project
Area eligible for an urban renewal project (Attachment 7). Further, for purposes of implementing
this Plan, the BOCC entered into an intergovernmental agreement and adopted a transfer of
powers ordinance (Attachment 9). As the Project Area develops, the City and County intend for
the Project Area to be fully annexed into the City.
The proposed development of the Project Area as described in this Plan conforms to The
City of Rexburg 2020 Comprehensive Plan (the “Comprehensive Plan”), as may be amended,
and adopted by the City Council (the “City Council”). The Agency intends to rely heavily on any
applicable City design standards which may cover all or part of the Project Area. 1
This Plan is subject to the Plan modification limitations and reporting requirements
set forth in Idaho Code § 50-2903A. Subject to limited exceptions as set forth in Idaho Code
§ 50-2903A, if this Plan is modified by City Council ordinance, then the base value for the
year immediately following the year in which modification occurs shall include the current
year’s equalized assessed value of the taxable property in the revenue allocation area,
effectively eliminating the Agency’s revenue stream. Should the Agency have any
outstanding financial obligations, the City shall not adopt an ordinance modifying this Plan
unless modification is deemed to have not occurred as provided in Idaho Code § 50-
2903A(1)(a)(i)-(iv) and written consent has been obtained by any creditors, including but
not limited to lending institutions and developers who have entered into reimbursement
agreements with the Agency.
A modification shall not be deemed to occur when “[t]here is a plan amendment to
make technical or ministerial changes to a plan that does not involve an increase in the use
of revenues allocated to the agency.” Idaho Code § 50-2903A(1)(a)(i). Annual adjustments
as more specifically set forth in the Agency’s annual budget will be required to account for
more/less estimated revenue and project timing, including prioritization of projects. Any
1 The redevelopment of the Project Area also conforms to the Madison County “2020” Comprehensive Plan, as
amended. However, as the Project Area will ultimately be annexed into the City prior to development, the City’s
Comprehensive Plan and zoning ordinances will guide development as addressed in the intergovernmental
agreement between the City and the County.
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adjustments for these stated purposes are technical and ministerial and are not
modifications under Idaho Code § 50-2903A.
This Plan provides the Agency with powers, duties, and obligations to implement and
further the program generally formulated in this Plan for the development, redevelopment,
rehabilitation, and revitalization of the area within the boundaries of the Project Area. The
Agency retains all powers allowed by the Law and Act. This Plan presents a process and a basic
framework within which plan implementation, including contracts, agreements and ancillary
documents will be presented and by which tools are provided to the Agency to fashion, develop,
and proceed with plan implementation. The Plan has balanced the need for flexibility over the
twenty (20)-year timeframe of the Plan to implement the improvements identified in Attachment
5, with the need for specificity as required by Idaho Code § 50-2905. The Plan narrative
addresses the required elements of a plan set forth in Idaho Code § 50-2905(1), (5), (7) and (8).
Attachment 5, as supported by Attachments 5A, 5B and 5C (collectively, “Attachment 5”)
together with the Plan narrative, meet the specificity requirement for the required plan elements
set forth in Idaho Code § 50-2905(2)-(6), recognizing that actual Agency expenditures are
prioritized each fiscal year during the required annual budgeting process.
Allowed projects are those activities which comply with the Law and the Act and meet
the overall objectives of this Plan. The public-private relationship is crucial in the successful
development and redevelopment of the Project Area. Typically, the public will fund enhanced
public improvements like utilities, streets, and sidewalks which, in turn, create an attractive
setting for adjacent private investment for a mix of uses, including industrial, light industrial,
commercial, and residential facilities.
The purpose of the Law and Act will be attained through the implementation of the Plan.
The master goals of this Plan are:
a. The installation and construction of public improvements, including new collector
and arterial streets and pedestrian pathways; improvements to existing roadways
and intersections, including the installation of traffic signals; installation of curbs,
gutters and streetscapes, which for purposes of this Plan, the term “streetscapes”
includes sidewalks, lighting, landscaping, benches, bike racks, wayfinding, public
art and similar amenities between the curb and right of way line; installation
and/or improvements to fiber optic facilities; improvements to public utilities
including water and sewer improvements, and fire protection systems; removal,
burying, or relocation of overhead utilities; extension of electrical distribution
lines and transformers; improvement of irrigation and drainage ditches and
laterals; and improvement of storm drainage facilities;
b. The acquisition of right-of-way, planning, design and construction of proposed
improvements to reconfigure the 7th North and 2nd East/Yellowstone Highway
Intersections; the 5th West Extension project; Barney Dairy Road to 2nd South and
Barney Dairy to 7th North; the 2nd East Bridge reconfiguration; Barney Dairy to
2nd East reconfiguration; and the Moody Road overpass, as well as improvements
to other existing roadways and intersections within the Project Area;
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c. The re-planning, redesign, and development of undeveloped or underdeveloped
areas which are stagnant or improperly utilized because of limited traffic access,
underserved utilities, and other site conditions, including the acquisition of right-
of-way as may be necessary;
d. The strengthening of the economic base of the Project Area and the community
by the installation of needed public improvements to stimulate new private
development providing employment and economic growth;
e. The provision of adequate land for open space, street rights-of-way and pedestrian
rights-of-way, including pedestrian bridges over the Teton River; the
establishment of, or improvements to parks and preserves along the Teton River;
improvements to the Teton River Trail and/or related pathways; and
improvements to and possible purchase of the County fairgrounds;
f. The reconstruction and improvement of street corridors to allow traffic flows to
move through the Project Area along with the accompanying utility connections,
through the Project Area;
g. The provision of public service utilities, which may be sited outside of the Project
Area, but are necessary to the development of the Project Area, such as water
system improvements, sewer system improvements and improvements to storm
drainage facilities;
h. In conjunction with the City, the establishment and implementation of
performance criteria to assure high site design standards and environmental
quality and other design elements which provide unity and integrity to the entire
Project Area, including commitment of funds for planning studies, achieving high
standards of development, and leveraging such development to achieve public
objectives and efficient use of scarce resources;
i. The strengthening of the tax base by encouraging private development, thus
increasing the assessed valuation of properties within the Project Area as a whole
and benefiting the various taxing districts in which the urban renewal area is
located; and
j. The funding of necessary public infrastructure to accommodate both public and
private development.
101 General Procedures of the Agency
The Agency is a public body, corporate and politic, as defined and described under the
Law and the Act. The Agency is also governed by its bylaws as authorized by the Law and
adopted by the Agency. Under the Law, the Agency is governed by the Idaho open meeting law;
the Public Records Act; the Ethics in Government Act of 2015, Chapters 1, 2 and 4 of Title 74,
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Idaho Code; reporting requirements pursuant to Idaho Code §§ 67-450B, 67-450E, 50-2903A
and 50-2913; and the competitive bidding requirements under Chapter 28, Title 67, Idaho Code,
as well as other procurement or other public improvement delivery methods.
Subject to limited exceptions, the Agency shall conduct all meetings in open session and
allow meaningful public input as mandated by the issue considered or by any statutory or
regulatory provision.
The Agency may adopt separate policy statements. Any modification to any policy
statement is a technical or ministerial adjustment and is not a modification to this Plan under
Idaho Code § 50-2903A.
102 Provisions Necessary to Meet State and Local Requirements: Conformance
with Idaho Code Sections 50-2008 and 50-2906
Idaho law requires that the City Council, by resolution, must determine a geographic area
be a deteriorated area or a deteriorating area, or a combination thereof, and designate such area
as appropriate for an urban renewal project prior to preparation of an urban renewal plan. A
geographic area was defined and studied, and the findings were set forth in an eligibility report.
A portion of the area studied was deannexed from the boundaries of the existing Second
Amended and Restated Urban Renewal Plan, North Highway Urban Renewal Project, Including
South Addition, originally adopted by City Council Ordinance No. 728, on December 27, 1991,
and as subsequently amended and restated to add geographic area by City Council Ordinance
No. 815, on December 27, 1998, and by City Council Ordinance No. 950, on December 21, 2005
(the “North Highway District Project Area”), by the First Amendment to the North Highway
District Project Area, adopted by City Council Ordinance No. 1230 on June 17, 2020.
The eligibility report was submitted to the Agency. The Agency accepted the eligibility
report by Agency Resolution No. 2020-03 on July 9, 2020, and thereafter submitted the
eligibility report to the BOCC and the City Council for their consideration.
As properties within the Project Area are outside the boundaries of the City and within
the boundaries of unincorporated Madison County, and in accordance with Idaho Code § 50-
2018(18), the BOCC adopted Resolution No. 447 on July 13, 2020, finding the Project Area to
be a deteriorated area and/or deteriorating area and finding a need for the urban renewal plan. A
copy of Resolution No. 447 is attached hereto as Attachment 7
The area studied was deemed by the City Council to be a deteriorating area and/or a
deteriorated area pursuant to the Law and Act and therefore eligible for an urban renewal project
by adoption of Resolution No. 2020-12 on July 15, 2020. With the adoption of Resolution No.
2020-12, the City Council authorized the preparation of an urban renewal plan.
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In accordance with the Law and Act, the necessary agricultural operation consents were
obtained from owners of any agricultural operations within the Project Area for property that has
been used as an agricultural operation within the last three (3) years. Copies of the agricultural
operation consents are attached hereto as Attachment 6 (exhibits B and C to the agricultural
operation consents have been removed to reduce the length of this Plan).
The Plan was prepared and submitted to the Agency for its review and approval. The
Agency approved the Plan by the adoption of Agency Resolution No. __________ on
_______________, and submitted the Plan to the BOCC, and the City Council with its
recommendation for adoption.
In accordance with the Law, this Plan was submitted to the Planning and Zoning
Commission of the City. After consideration of the Plan, the Commission reported to the City
Council that this Plan is in conformity with the City’s Comprehensive Plan.
In accordance with the Law and the Act, the City Council and BOCC entered into an
intergovernmental agreement concerning the administration and implementation of the Plan and
the BOCC adopted a transfer of powers ordinance on ____________________, _________, by
Ordinance No. ______.
Pursuant to the Law and Act, the City Council having published due notice thereof, a
public hearing was held on this Plan. Notice of the hearing was duly published in the Rexburg
Standard Journal, a newspaper having general circulation in the City. The City Council adopted
this Plan on ___________ __, ________, by Ordinance No. _____.
103 History and Current Conditions of the Area
This Project Area includes an estimated 1,206 acres with a mix of land uses. The Project
Area generally includes necessary properties and roadway along the proposed extension of North
5th West from the Madison County Fairgrounds to West Moody Road, including properties
necessary to construct an overpass on West Moody Road over State Highway 20. The Project
Area also includes properties and roadway along North 2nd East and the North Yellowstone
Highway from East 1st North to East Moran View Road. The Project Area also includes
properties and roadway along East 7th North and Barney Dairy Road. It also includes
undeveloped properties between East 7th North and Barney Dairy Road and East 2nd North.
Lastly, the Project Area includes necessary properties along the proposed extension of East
Parkway from about 6th South to 7th North. The Project Area includes properties located within
the City limits as well as parcels within the City’s area of impact, in unincorporated Madison
County, which parcels are necessary to address roadway, sewer and water improvements, and to
incent commercial and industrial development consistent with the Comprehensive Plan.
The Project Area includes mixed zoning for industrial, commercial and residential uses.
A significant impediment to development is the extent of infrastructure necessary to develop
and/or redevelop the area to support contemplated and/or future land uses. Development
potential within the Project Area is currently restricted due to defective or inadequate
connectivity, vehicular and pedestrian, in the Project Area, as well as, lack of access to the
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municipal water system, which creates fire flow issues. Extension of a water distribution system
throughout the Project Area is necessary to support development. Likewise, the sewer system
will also need to be extended throughout the Project Area. Power system upgrades are also
necessary. There are a number of larger parcels currently transitioning from traditional
agricultural use that will likely need to be subdivided into developable lots. The Project Area
lacks the public infrastructure necessary to properly serve economic development contemplated
by the City’s Comprehensive Plan.
The Plan proposes installation and improvements to public infrastructure and other
publicly owned assets throughout the Project Area, as more specifically set forth in Attachment
5, creating the opportunity for commercial and industrial economic development, as well as the
opportunity for expanded residential housing stock.
The Project Area currently includes an area in transition within the City and County,
moving from predominantly open lands and agricultural uses to an area of increased demand for
mixed-use growth as set forth in the Comprehensive Plan. As a result, the Project Area is
underdeveloped and/or vacant and is not being used to its highest and best use due to the
deteriorating conditions found in the Project Area, specifically: (1) obsolete platting and faulty
lot layout – the large agricultural land-use patterns inhibit orderly growth if not encouraged to
subdivide to allow mixed uses, which in turn results in economic underdevelopment of the area;
(2) outmoded street patterns/inadequate street layout – the existing streets in the Project Area do
not meet current City street standards and lack pedestrian facilities. Further the existing road
systems does not serve major portions of the Project Area; (3) unsafe conditions – a central
public water system and sewer collection system do not serve significant portions of the Project
Area. The lack of hydrants creates fire-safety issues. The foregoing conditions have arrested or
impaired sound and orderly growth in the Project Area and represents an area of economic
underdevelopment.
The preparation and approval of an urban renewal plan, including a revenue allocation
financing provision, gives the City additional resources to solve the public infrastructure and
development impediment issues in this area. Revenue allocation financing should help to
improve the situation. In effect, property taxes generated by new developments within the
Project Area may be used by the Agency to finance a variety of needed public improvements and
facilities. Finally, some of the new developments may also generate new jobs in the community
that would, in turn, benefit area residents.
It is unlikely individual developers will take on the prohibitive costs of constructing the
necessary infrastructure in the Project Area without the ability of revenue allocation proceeds to
help offset at least some of these costs. But for urban renewal and revenue allocation financing
the proposed industrial and commercial developments would not occur.
104 Purpose of Activities
Attachment 5 includes the public improvements list identifying with specificity the
proposed public improvements and projects contemplated in the Project Area. The description of
activities, public improvements, and the estimated costs of those items are intended to create an
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outside limit of the Agency’s activity. Due to the inherent difficulty in projecting future levy
rates, future taxable value, and the future costs of construction, the Agency reserves the right to:
a. change funding amounts from one Project to another.
b. to re-prioritize the Projects described in this Plan and the Plan Attachments.
c. Retain flexibility in funding the various activities in order to best meet the Plan
and the needs of the Project Area.
d. Retain flexibility in determining whether to use the Agency’s funds or funds
generated by other sources.
e. Alter the location of proposed improvements set forth in Attachment 5 to support
development when it occurs. The information included in Attachment 5 presents a
realistic development scenario recognizing it is difficult to project with any
certainty where the improvements will be sited until any future projects submit
plans to the City for design review and permitting.
The Agency intends to discuss and negotiate with any owner or developer of the parcels
within the Project Area seeking Agency assistance during the duration of the Plan and
Project Area. During such negotiation, the Agency will determine the eligibility of the activities
sought for Agency funding, the amount the Agency may fund by way of percentage or other
criteria including the need for such assistance. The Agency will also take into account the
amount of revenue allocation proceeds estimated to be generated from the developer’s activities.
The Agency also reserves the right to establish by way of policy, its funding percentage or
participation, which would apply to all developers and owners.
Throughout this Plan, there are references to Agency activities, Agency funding, and the
development, and contribution of public improvements. Such references do not necessarily
constitute a full, final, and formal commitment by the Agency but, rather, grant to the Agency
the discretion to participate as stated subject to achieving the objectives of this Plan and provided
such activity is deemed eligible under the Law and the Act. The activities listed in Attachment 5
will be determined or prioritized as the overall Project Area develops and through the annual
budget setting process.
The activities listed in Attachment 5 are also prioritized by way of importance to the
Agency by the amounts funded, and by year of funding, with earlier years reflecting the more
important activities, achievement of higher objectives, long term goals, and commitments. As
required by the Law and Act, the Agency will adopt more specific budgets annually. The
projected timing of funding is primarily a function of the availability of market conditions and
financial resources but is also strategic, considering the timing of private development
partnership opportunities and the ability of certain strategic activities to stimulate development at
a given points in time within the planned 20-year period of the urban renewal district and
revenue allocation area.
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The Study (Attachment 5) has described a list of prioritized public improvements and
other related activities with an estimated cost in 2020 dollars of approximately $30,620,000.00.
This amount does not take into account inflationary factors, such as increasing construction
costs, which would increase that figure depending on when the owner, developer and/or Agency
is able to develop, construct or initiate those activities. The Study has concluded the capacity of
revenue allocation funds through the term of the Plan based on the assumed development
projects and assessed value increases will likely generate an estimated $36,657,681.00in revenue
allocation proceeds. The Agency reserves the discretion and flexibility to use revenue allocation
proceeds in excess of the amounts predicted in the event higher increases in assessed values
occur during the term of the Plan for the improvements and activities identified. Additionally, the
Agency reserves the discretion and flexibility to use other sources of funds unrelated to revenue
allocation to assist in the funding of the improvements and activities identified.
105 Open Land Criteria
The Project Area includes open land requiring the area meet the conditions set forth in
Idaho Code § 50-2008(d). These conditions include defective or unusual conditions of title,
diversity of ownership, tax delinquency, improper subdivisions, outmoded street patterns,
deterioration of site, and faulty lot layout, all of which are included in one form or another in the
definitions of deteriorated area or deteriorating area set forth in Idaho Code §§ 50-2018(8), (9)
and 50-2903(8). The issues listed only in Idaho Code § 50-2008(d)(4)(2) (the open land section)
include economic disuse, unsuitable topography, and “the need for the correlation of the area
with other areas of a municipality by streets and modern traffic requirements, or any combination
of such factors or other conditions which retard development of the area.”
Open land areas qualify for Agency acquisition and development for residential uses if
the City Council determines there is a shortage of housing of sound standards and design which
is decent, safe and sanitary in the City, that the need for housing will be increased as a result of
the clearance of deteriorated areas, that the conditions of blight in the area and the shortage of
decent, safe and sanitary housing contributes to an increase in the spread of disease and crime
and constitutes and menace to the public health, safety, morals, or welfare, and that the
acquisition of the area for residential uses is an integral part of and essential to the program of
the City. Due to the City’s expected growth, the need for housing is significant and integral to a
successful mixed-use project area. Further, the existing zoning designations in the Project Area
allow for increased residential density surrounding potential industrial and commercial projects.
Open land areas qualify for Agency acquisition and development for primarily
nonresidential uses if acquisition is necessary and appropriate to facilitate the proper growth and
development of the community in accordance with sound planning standards and local
community objectives if any of the deteriorating area conditions set forth in Idaho Code §§ 50-
2018(8), (9) and 50-2903(8) apply. But such areas also qualify if any of the issues listed only in
Idaho Code § 50-2008(d)(4)(2) apply. The lack of water and sewer facilities, large parcel size, a
deficient street system, lack of fire protection facilities, and economic underdevelopment, are all
conditions which delay or impair development of the open land areas and satisfy the open land
conditions as more fully supported by The North Central Area Urban Renewal Eligibility Report,
prepared by Richard Horner, dated July 3, 2020.
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This Plan does anticipate Agency acquisition of property within the Project Area,
particularly to support right-of-way improvements; however, the acquisition of specific parcels is
unknown at this time. Should the Agency determine the need to acquire property as further set
forth in Attachment 3, then the open land areas qualify for Agency acquisition and development.
200 DESCRIPTION OF PROJECT AREA
The boundaries of the Project Area and the Revenue Allocation Area are shown on the
Boundary Map of Urban Renewal Project Area and Revenue Allocation Area, attached hereto as
Attachment 1 and incorporated herein by reference, and are described in the Legal Description of
Urban Renewal Project Area and Revenue Allocation Area, attached hereto as Attachment 2 and
incorporated herein by reference. For purposes of boundary descriptions and use of proceeds for
payment of improvements, the boundary shall be deemed to extend to the outer boundary of
rights-of-way or other natural boundaries unless otherwise stated.
300 PROPOSED REDEVELOPMENT ACTIONS
301 General
The Agency proposes to eliminate and prevent the spread of deteriorating conditions and
deterioration in the Project Area by employing a strategy to improve and develop public and
private lands, and to grow the economy in the Project Area. Implementation of the strategy
includes, but is not limited to the following actions:
a. The engineering, design, installation, construction, and/or reconstruction of storm
water management infrastructure to support compliance with federal, state and
local regulations for storm water discharge and to support private development;
b. The provision for participation by property owners and developers within the
Project Area to achieve the objectives of this Plan;
c. The engineering, design, installation, construction, and/or reconstruction of
streets, pathways, and streetscapes, including but not limited to the 5th West
Extension; the East Parkway Corridor; the 2nd East Bridge reconfiguration; the
Barney Dairy Road to 2nd East reconfiguration; and the Moody Road overpass;
and related pedestrian facilities, curb and gutter, intersection and rail crossing
improvements, and traffic signals;
d. The engineering, design, installation, construction, and/or reconstruction of
utilities (within and outside of the Project Area) including but not limited to
improvements and upgrades to the water distribution system, water capacity
improvements, water storage upgrades, sewer system improvements and
upgrades, lift station, and improvements, and upgrades to power, gas, fiber optics,
communications and other such facilities. Such improvements include but are not
limited to over-sizing the sewer line in Yellowstone Highway and the Teton River
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sewer line extension. Construction of utilities outside of the Project Area are
directly related to the growth and development within the Project Area, but cannot
be sited within the Project Area;
e. Removal, burying, or relocation of overhead utilities; removal or relocation of
underground utilities; extension of electrical distribution lines and transformers;
improvement of irrigation and drainage ditches and laterals; undergrounding or
piping of laterals; addition of fiber optic lines or other communication systems;
public parking facilities, and other public improvements, including but not limited
to, fire protection systems, roadways, curbs, gutters, and streetscapes, which for
purposes of this Plan, the term streetscapes includes sidewalks, lighting,
landscaping, benches, signage, bike racks, public art, and similar amenities
between the curb and right-of-way line; and other public improvements, including
public open spaces that may be deemed appropriate by the Board;
f. The acquisition of real property for public right-of-way improvements, public
parks, pedestrian facilities, pathways and trails, recreational access points and to
encourage development opportunities consistent with the Plan, including but not
limited to future disposition to qualified developers. Improvements to public open
space and pathways include but are not limited to the pedestrian bridges over the
Teton River; the Barney Dairy Park/Johnson Preserve along the Teton River; and
installation and/or improvements to the Teton River Trail;
g. The acquisition of real property for utility undergrounding and streetscape
improvements to create development opportunities consistent with the Plan,
including but not limited to future disposition to qualified developers and for
qualified developments, including economic development;
h. The disposition of real property through a competitive process in accordance with
this Plan, Idaho law, including Idaho Code § 50-2011, and any disposition
policies adopted by the Agency;
i. The demolition or removal of certain buildings and/or improvements for public
rights-of-way, pedestrian facilities, utility undergrounding and streetscape
improvements to encourage and enhance transportation and mobility options,
decrease underutilized parcels, to eliminate unhealthful, unsanitary, or unsafe
conditions, eliminate obsolete or other uses detrimental to the public welfare or
otherwise to remove or to prevent the spread of deteriorating or deteriorated
conditions. Such improvements may include the acquisition of and/or
improvements to the County fairgrounds;
j. The management of any property acquired by and under the ownership and
control of the Agency;
k. The development or redevelopment of land by private enterprise or public
agencies for uses in accordance with this Plan;
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l. The construction and financial support of infrastructure necessary for the
provision of improved transit and alternative transportation;
m. The engineering, design, installation, construction, and/or reconstruction of below
ground infrastructure to support the construction of certain municipal buildings
pursuant to Idaho Code § 50-2905A, including public safety buildings; the
purchase of public safety equipment, including, but not limited to equipment for
the Madison Fire Department, Rexburg Police Department, Madison County
Ambulance and the Madison County Sheriff Department, for use in, but not
limited to, the Project Area.
n The provision of financial and other assistance to encourage and attract business
enterprise including but not limited to start-ups and microbusinesses, mid-sized
companies and large-scale corporations and industries;
o. The provision of financial and other assistance to encourage greater density;
p. The rehabilitation of structures and improvements by present owners, their
successors, and the Agency;
q. The preparation and assembly of adequate sites for the development and
construction of facilities for industrial, commercial, office, retail, residential, and
governmental use;
r. In collaboration with property owners and other stakeholders, working with the
City to amend zoning regulations (if necessary) and standards and guidelines for
the design of streetscape, festival streets, plazas, multi-use pathways, parks and
open space and other like public spaces applicable to the Project Area as needed
to support implementation of this Plan;
s. In conjunction with the City, the establishment and implementation of
performance criteria to assure high site design standards and environmental
quality and other design elements which provide unity and integrity to the entire
Project Area, including commitment of funds for planning studies, achieving high
standards of development, and leveraging such development to achieve public
objectives and efficient use of scarce resources;
t. To the extent allowed by law, lend or invest federal funds to facilitate
development and/or redevelopment;
u. The provision for relocation assistance to displaced Project Area occupants, as
required by law, or within the discretion of the Agency Board for displaced
businesses;
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v. Other related improvements to those set forth above as further set forth in
Attachment 5.
In the accomplishment of these purposes and activities and in the implementation and
furtherance of this Plan, the Agency is authorized to use all the powers provided in this Plan and
all the powers now or hereafter permitted by Law and Act.
302 Urban Renewal Plan Objectives
Urban renewal activity is necessary in the Project Area to combat problems of physical
deterioration or deteriorating conditions. As set forth in greater detail in Section 103,
the Project Area has a history of stagnant growth and development compared to other areas of
the City based on deteriorated or deteriorating conditions that have arrested or impaired growth
in the Project Area primarily attributed to: predominance of defective or inadequate street layout,
faulty lot layout/obsolete platting, insanitary or unsafe conditions, and inadequate utility
infrastructure needed for commercial and industrial development. The Plan for the Project Area
is a proposal to work in partnership with public and private entities to improve, develop, and
grow the economy within the Project Area by the implementation of a strategy and program set
forth in Section 301.
The provisions of this Plan are applicable to all public and private property in the Project
Area. The provisions of the Plan shall be interpreted and applied as objectives and goals,
recognizing the need for flexibility in interpretation and implementation, while at the same time
not in any way abdicating the rights and privileges of the property owners which are vested in
the present and future zoning classifications of the properties. All development under an owner
participation agreement shall conform to those standards specified in Section 303.1 of this Plan.
This Plan must be practical in order to succeed. Particular attention has been paid to how
it can be implemented, given the changing nature of market conditions. Transforming the Project
Area into a vital, thriving part of the community requires an assertive strategy. The following list
represents the key elements of that effort:
a. Initiate simultaneous projects designed to revitalize the Project Area. From street
and utility improvements to significant new public or private development, the
Agency plays a key role in creating the necessary momentum to get and keep
things going.
b. Develop new mixed-use residential, retail, commercial, industrial and office
opportunities and encourage economic development.
c. Secure and improve certain public open space in critical areas.
d. Initiate projects designed to increase workforce transportation and mobility
options.
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Without direct public intervention, much of the Project Area could conceivably remain
unchanged and in a deteriorated and/or deteriorating condition for the next twenty (20) years.
The Plan creates the necessary flexible framework for the Project Area to support the City’s
economic development while complying with the “specificity” requirement set forth in Idaho
Code § 50-2905.
Land use in the Project Area will be modified to the extent that underutilized,
underdeveloped, and vacant land and land now devoted to uses inconsistent with the future land
uses of the area will be converted to residential, commercial, industrial retail and office uses. In
implementing the activities described in this Plan, the Agency shall give due consideration to the
provision of adequate open space, park and recreational areas and facilities that may be desirable
for neighborhood improvement, with special consideration for the health, safety, and welfare of
residents in the general vicinity of the site covered by the Plan.
303 Participation Opportunities and Agreement
303.1 Participation Agreements
The Agency shall enter into various development participation agreements with any
existing or future owner of property in the Project Area, in the event the property owner receives
assistance from the Agency in the development and/or redevelopment of the property. The term
“owner participation agreement” or “participation agreement” is intended to include all
participation agreements with a property owner, including reimbursement agreements, grant
agreements or other participation agreements. In that event, the Agency may allow for an
existing or future owner of property to remove the property and/or structure from future Agency
acquisition subject to entering into an owner participation agreement. The Agency may also enter
into owner participation agreements with other future owners and developers within the Project
Area throughout the duration of this Plan in order to implement the infrastructure improvements
set forth in this Plan.
Each structure and building in the Project Area to be rehabilitated or to be constructed as
a condition of the owner participation agreement between the Agency and the owner pursuant to
this Plan will be considered to be satisfactorily rehabilitated and constructed, and the Agency
will so certify, if the rehabilitated or new structure meets the standards set forth in an executed
owner participation agreement and meets the conditions described below:
a. Any such property within the Project Area shall be required to conform to all
applicable provisions, requirements, and regulations of this Plan. The owner
participation agreement may require as a condition of financial participation by
the Agency a commitment by the property owner to meet the greater objectives of
the land use elements identified in the Comprehensive Plan, and applicable zoning
ordinances. Upon completion of any rehabilitation each structure must be safe and
sound in all physical respects and be refurbished and altered to bring the property
to an upgraded marketable condition that will continue throughout an estimated
useful life for a minimum of twenty (20) years.
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b. Any owner shall give due consideration to the provision of adequate park and
recreational areas and facilities that may be desirable for neighborhood
improvement, with special consideration for the health, safety and welfare of
children and seniors residing in the general vicinity of the site covered by the
Plan.
c. All such buildings or portions of buildings which are to remain within the Project
Area shall be rehabilitated or constructed in conformity with all applicable codes
and ordinances of the City.
d. Any new construction shall also conform to all applicable provisions,
requirements, and regulations of this Plan, as well as to all applicable codes and
ordinances of the City.
All owner participation agreements will address development timing, phasing, justification
and eligibility of project costs, and achievement of the objectives of the Plan. The Agency
shall retain its discretion in the funding level of its participation. Obligations under owner
participation agreements shall terminate no later than the termination date of this Plan,
December 31, 2040. The Agency shall retain its discretion to negotiate an earlier date to
accomplish all obligations under any owner participation agreement.
In all participation agreements, participants who retain real property shall be required to
join in the recordation of such documents as may be necessary to make the provisions of this
Plan applicable to their properties. Whether or not a participant enters into a participation
agreement with the Agency, the provisions of this Plan are applicable to all public and private
property in the Project Area.
In the event a participant fails or refuses to rehabilitate, develop, use, and maintain its real
property pursuant to this Plan and a participation agreement, the real property or any interest
therein may be acquired by the Agency in accordance with Section 305.1 of this Plan and sold or
leased for rehabilitation or development in accordance with this Plan.
Owner participation agreements may be used to implement the following objectives:
a. Encouraging property owners to revitalize and/or remediate deteriorated areas or
deteriorating areas of their parcels to accelerate development in the Project Area.
b. Subject to the limitations of the Law and the Act, providing incentives to property
owners to encourage utilization and expansion of existing permitted uses during
the transition period to prevent a decline in the employment base and a
proliferation of vacant and deteriorated parcels in the Project Area during the
extended redevelopment of the Project Area.
c. To accommodate improvements and expansions allowed by City regulations.
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d. Subject to the limitations of the Law and Act, providing incentives to improve
nonconforming properties so they implement the design guidelines contained in
this Plan to the extent possible and to encourage an orderly transition from
nonconforming to conforming uses through the term of the Plan.
e. Provide for advance funding by the developer/owner participant of those certain
public improvements related to or needed for the private development and related
to the construction of certain public improvements. In that event, the Agency will
agree as set out in the participation agreement to reimburse a portion of, or all of,
the costs of public improvements identified in the participation agreement from
the revenue allocation generated by the private development.
304 Cooperation with Public Bodies
Certain public bodies are authorized by state law to aid and cooperate, with or without
consideration, in the planning, undertaking, construction, or operation of this Project. The
Agency shall seek the aid and cooperation of such public bodies and shall attempt to coordinate
this Plan with the activities of such public bodies in order to accomplish the purposes of
redevelopment and the highest public good.
The Agency, by law, is not authorized to acquire real property owned by public bodies
without the consent of such public bodies. The Agency will seek the cooperation of all public
bodies which own or intend to acquire property in the Project Area. All plans for development of
property in the Project Area by a public body shall be subject to Agency approval, in the event
the Agency is providing any financial assistance.
Subject to applicable authority, the Agency may impose on all public bodies the planning
and design controls contained in this Plan to ensure that present uses and any future development
by public bodies will conform to the requirements of this Plan. The Agency is authorized to
financially (and otherwise) assist any public entity in the cost of public land, buildings, facilities,
structures, or other improvements of the Project Area as allowed by the Law and Act.
The Agency intends to cooperate to the extent allowable with the City and County, as the
case may be, for the engineering, design, installation, construction, and/or reconstruction of
public infrastructure improvements, including, but not limited to water, sewer, storm drainage,
electrical, natural gas, telecommunication, or other similar systems and lines, streets, roads,
curbs, gutters, sidewalks, walkways, public parking facilities and unoccupied auxiliary
structures. The Agency shall also cooperate with the City and County on various relocation,
screening, or underground projects and the providing of fiber optic capability. To the extent any
public entity, including the City and/or County, has funded certain improvements, the Agency
may reimburse those entities for those expenses. The Agency also intends to cooperate and seek
available assistance from state, federal and other sources for economic development. This Plan
does not financially bind any public entity to a project and does not constitute any commitment
for financial outlays by the City and/or County; rather this Plan provides a framework for public
entities to work together to resolve public infrastructure issues at the local level.
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In the event the Agency is participating in the public development by way of financial
incentive or otherwise, the public body shall enter into a participation agreement with the
Agency and then shall be bound by the Plan and other land use elements and shall conform to
those standards specified in Section 303.1 of this Plan.
This Plan does not financially bind or obligate the Agency or other public entities to any
project or property acquisition; rather, for purposes of determining the economic feasibility of
the Plan certain projects and expenditures have been estimated and included in the analysis.
Agency revenue and the ability to fund reimbursement of eligible Project Costs is more
specifically detailed in any owner participation agreement and in the annual budget adopted by
the Agency Board.
305 Property Acquisition
305.1 Real Property
Only as specifically authorized herein, the Agency may acquire, through the voluntary
measures described below, but is not required to acquire, any real property located in the Project
Area where it is determined that the property is needed for construction of public improvements,
required to eliminate or mitigate the deteriorated or deteriorating conditions, to facilitate
economic development, including acquisition of real property intended for disposition to
qualified developers through a competitive process, and as otherwise allowed by law. The
acquisition shall be by any means authorized by law, including, but not limited to, the Law, the
Act, and the Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970,
as amended, but shall not include the right to invoke eminent domain authority except as
authorized herein. The Agency is authorized to acquire either the entire fee or any other interest
in real property less than a fee, including structures and fixtures upon the real property, without
acquiring the land upon which those structures and fixtures are located.
The Agency intends to acquire any real property through voluntary or consensual gift,
devise, exchange, or purchase. Such acquisition of property may be for the development of the
public improvements identified in this Plan. Such properties may include properties owned by
private parties or public entities. This Plan does not anticipate the Agency’s widespread use of its
resources for property acquisition, except for the construction of public improvements, including
right-of-way acquisition, and possible purchase of the Madison County Fairgrounds.
In the event the Agency identifies certain property which should be acquired to develop
certain public improvements intended to be constructed under the provisions of this Plan, the
Agency shall coordinate such property acquisition with any other public entity (e.g., without
limitation, the City, the County, the state of Idaho, or any of its authorized agencies), including
the assistance of the Agency of funds to acquire said property either through a voluntary
acquisition or the public entity’s invoking of its eminent domain authority as limited by Idaho
Code Section 7-701A.
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Idaho Code Section 7-701A specifically limits the Agency’s ability to exercise
eminent domain to involuntarily acquire real property in the Project Area for the purposes
of conveying property for non-public uses.
The Agency is authorized by this Plan to acquire the properties identified in Attachment 3
hereto, including but not limited to property to be acquired for the extension or expansion of
certain rights-of-way.
The Agency is authorized by this Plan and Idaho Code §§ 50-2010 and 50-2018(12) to
acquire the properties identified in Attachment 3 hereto for the purposes set forth in this Plan.
The Agency has identified its intent to acquire and/or participate in the development of certain
public improvements, including, but not limited to streets, streetscapes, water and sewer
improvements, environmental remediation/site preparation, public parking, community facilities,
including but not limited to parks, pedestrian/bike paths and trails, recreation facilities and other
public facilities and/or equipment, such as public infrastructure improvements and/or equipment
to support a police/sheriff, fire and/or emergency medical services facility. Further, the Agency
may acquire real property to facilitate commercial development by assembling and disposing of
developable parcels. The Agency’s property acquisition will result in remediating deteriorating
conditions in the Project Area by facilitating the development of mixed-use, residential,
commercial, retail and industrial areas. The public improvements are intended to be dedicated to
the City or County upon completion where applicable. The Agency reserves the right to
determine which properties identified, if any, should be acquired. The open land areas qualify for
Agency acquisition as further set forth in Section 105 of this Plan.
It is in the public interest and may be necessary, in order to eliminate the conditions
requiring redevelopment and in order to execute this Plan, for the power of eminent domain to be
retained by the Agency to acquire real property in the Project Area for the public improvements
identified in this Plan, which cannot be acquired by gift, devise, exchange, purchase, or any other
lawful method. However, as set forth above, the Agency’s authority to invoke eminent domain to
acquire real property for disposition to private parties for economic development is limited by
Idaho Code § 7-701A.
Under the provisions of the Act, the urban renewal plan “shall be sufficiently complete to
indicate such land acquisition, demolition, and removal of structures, redevelopment,
improvements, and rehabilitation as may be proposed to be carried out in the urban renewal
area.” Idaho Code § 50-2018(12). The Agency has generally described those properties by use as
set out in Attachment 3 for acquisition for the construction of public improvements. The Agency
may also acquire property for the purpose of developing streetscape and public utilities. The
Agency reserves the right to determine which properties, if any, should be acquired.
305.2 Personal Property
Generally, personal property shall not be acquired, except for purposes of providing for
better police, sheriff and/or ambulance services in the Project Area. However, where necessary in
the execution of this Plan, the Agency is authorized to acquire personal property in the Project
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Area by any lawful means, including eminent domain for the purpose of developing the public
improvements described in section 305.1.
306 Property Management
During the time real property, if any, in the Project Area is owned by the Agency, such
property shall be under the management and control of the Agency. Such property may be rented
or leased by the Agency pending its disposition for redevelopment, and such rental or lease shall
be pursuant to such policies as the Agency may adopt.
307 Relocation of Persons (Including Individuals and Families), Business
Concerns, and Others Displaced by the Project
If the Agency receives federal funds for real estate acquisition and relocation, the Agency
shall comply with 24 C.F.R. Part 42, implementing the Uniform Relocation Assistance and Real
Property Acquisition Policies Act of 1970, as amended.
The Agency reserves the right to extend benefits for relocation to those not otherwise
entitled to relocation benefits as a matter of state law under the Act or the Law. The Agency may
determine to use as a reference the relocation benefits and guidelines promulgated by the federal
government, the state government, or local government, including the State Department of
Transportation. The intent of this section is to allow the Agency sufficient flexibility to award
relocation benefits on some rational basis, or by payment of some lump-sum per case basis. The
Agency may also consider the analysis of replacement value for the compensation awarded to
either owner occupants or businesses displaced by the Agency to achieve the objectives of this
Plan. The Agency may adopt relocation guidelines which would define the extent of relocation
assistance in non-federally-assisted projects and which relocation assistance to the greatest extent
feasible would be uniform. The Agency shall also coordinate with the various local, state, or
federal agencies concerning relocation assistance as may be warranted.
In the event the Agency’s activities result in displacement, the Agency shall comply with,
at a minimum, the standards set forth in the Law. The Agency shall also comply with all
applicable state laws concerning relocation benefits. The Agency shall also coordinate with the
various local, state, or federal agencies concerning relocation assistance.
308 Demolition, Clearance and Site Preparation
The Agency is authorized (but not required) to demolish and clear buildings, structures,
and other improvements from any real property in the Project Area as necessary to carry out the
purposes of this Plan.
Further, the Agency is authorized (but not required) to prepare, or cause to be prepared,
as building sites any real property in the Project Area owned by the Agency including site
preparation. In connection therewith, the Agency may cause, provide for, or undertake the
installation or construction of streets, utilities, parks, pedestrian walkways, parking facilities,
drainage facilities, and other public improvements necessary to carry out this Plan.
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309 Property Disposition and Development
309.1 Disposition by the Agency
For the purposes of this Plan, the Agency is authorized to sell, lease, lease/purchase,
exchange, subdivide, transfer, assign, pledge, encumber by mortgage or deed of trust, or
otherwise dispose of any interest in real property under the reuse provisions set forth in Idaho
Code § 50-2011 and pursuant to any disposition policies adopted by the Agency. To the extent
permitted by law, the Agency is authorized to dispose of real property by negotiated lease, sale,
or transfer without public bidding.
Real property acquired by the Agency may be conveyed by the Agency and, where
beneficial to the Project Area, without charge to any public body as allowed by law. All real
property acquired by the Agency in the Project Area shall be sold or leased to public or private
persons or entities for development for the uses permitted in this Plan.
309.2 Disposition and Development Agreements
To provide adequate safeguards to ensure that the provisions of this Plan will be carried
out and to prevent the recurrence of deteriorating conditions, all real property sold, leased, or
conveyed by the Agency is subject to the provisions of this Plan.
The Agency shall reserve such powers and controls in the disposition and development
documents as may be necessary to prevent transfer, retention, or use of property for speculative
purposes and to ensure that development is carried out pursuant to this Plan.
Leases, lease/purchases, deeds, contracts, agreements, and declarations of restrictions of
the Agency may contain restrictions, covenants, covenants running with the land, rights of
reverter, conditions subsequent, equitable servitudes, or any other provisions necessary to carry
out this Plan. Where appropriate, as determined by the Agency, such documents, or portions
thereof, shall be recorded in the office of the Recorder of Madison County, Idaho.
All property in the Project Area is hereby subject to the restriction that there shall be no
discrimination or segregation based upon race, color, creed, religion, sex, age, national origin, or
ancestry in the sale, lease, sublease, transfer, use, occupancy, disability/handicap, tenure, or
enjoyment of property in the Project Area. All property sold, leased, conveyed, or subject to a
participation agreement shall be expressly subject by appropriate documents to the restriction
that all deeds, leases, or contracts for the sale, lease, sublease, or other transfer of land in the
Project Area shall contain such nondiscrimination and nonsegregation clauses as required by
law.
As required by law or as determined in the Agency’s discretion to be in the best interest
of the Agency and the public, the following requirements and obligations shall be included in the
disposition and development agreement.
That the developers, their successors, and assigns agree:
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a. That a detailed scope and schedule for the proposed development shall be
submitted to and agreed upon by the Agency.
b. That the purchase or lease of the land and/or subterranean rights and/or air rights
is for the purpose of redevelopment and not for speculation.
c. That the building of improvements will be commenced and completed as jointly
scheduled and determined by the Agency and the developer(s).
d. That the site and construction plans will be submitted to the Agency for review as
to conformity with the provisions and purposes of this Plan.
e. All new construction shall have a minimum estimated life of no less than twenty
(20) years.
f. That rehabilitation of any existing structure must assure that the structure is safe
and sound in all physical respects and be refurbished and altered to bring the
property to an upgraded marketable condition which will continue throughout an
estimated useful life for a minimum of twenty (20) years.
g. That the Agency receives adequate assurance acceptable to the Agency to ensure
performance under the contract for sale.
h. All such buildings or portions of the buildings which are to remain within the
Project Area shall be reconstructed in conformity with all applicable codes and
ordinances of the City.
i. All disposition and development documents shall be governed by the provisions
of Section 409 of this Plan.
j. All other requirements and obligations as may be set forth in any participation
policy established and/or amended by the Agency.
All disposition and development agreements will address development timing and
phasing. The Agency also reserves the right to determine the extent of its participation
based upon the achievements of the objectives of this Plan. Obligations under any
disposition and development agreement and deed covenants, except for covenants which
run with the land beyond the termination date of this Plan, shall terminate no later than
December 31, 2040. The Agency shall retain its discretion to negotiate an earlier date to
accomplish all obligations under any disposition and development agreement.
309.3 Development by the Agency
To the extent now or hereafter permitted by law, the Agency is authorized to pay for,
develop, or construct public improvements within the Project Area for itself or for any public
22
body or entity, which public improvements are or would be of benefit to the Project Area.
Specifically, the Agency may pay for, install, or construct the public improvements authorized
under Idaho Code Section 50-2007, 50-2018(10) and (13), and 50-2903(9), (13), and (14), and as
otherwise identified in Attachment 5, attached hereto and incorporated herein by reference, and
may acquire or pay for the land required therefore.
The Agency may enter into contracts, leases, and agreements with the City or other
public body or private entity pursuant to this section, and the obligation of the Agency under
such contract, lease, or agreement shall constitute an indebtedness of the Agency as described in
Idaho Code § 50-2909 which may be made payable out of the taxes levied in the Project Area
and allocated to the Agency under Idaho Code § 50-2908(2)(b) and Section 500 of this Plan or
out of any other available funds.
310 Development Plans
All development plans (whether public or private) prepared, pursuant to an owner
participation or disposition and development agreement, shall be submitted to the Agency Board
for approval and architectural review. All development in the Project Area must conform to
those standards specified in Section 409. Additionally, development must be consistent with all
City ordinances.
312 Participation with Others
Under the Law, the Agency has the authority to lend or invest funds obtained from the
federal government for the purposes of the Law if allowable under federal laws or regulations.
The federal funds that may be available to the Agency are governed by regulations promulgated
by the Department of Housing and Urban Development for the Community Development Block
Grant Program (“CDBG”), the Economic Development Administration, the Small Business
Administration, or other federal agencies. In order to enhance such grants, the Agency’s use of
revenue allocation funds is critical.
Under those regulations the Agency may participate with the private sector in the
development and financing of those private projects that will attain certain federal objectives.
The Agency may, therefore, use the federal funds for the provision of assistance to
private for-profit business, including, but not limited to, grants, loans, loan guarantees, interest
supplements, technical assistance, and other forms to support, for any other activity necessary or
appropriate to carry out an economic development project.
As allowed by law, the Agency may also use funds from any other sources for any
purpose set forth under the Law or Act.
The Agency may enter into contracts, leases, and agreements with the City, or other
public body or private entity, pursuant to this section, and the obligation of the Agency under
such contract, lease, or agreement shall constitute an indebtedness of the Agency as described in
Idaho Code § 50-2909 which may be made payable out of the taxes levied in the Project Area
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and allocated to the Agency under Idaho Code § 50-2908(2)(b) and Section 500 of this Plan or
out of any other available funds.
313 Conforming Owners
The Agency may, at the Agency’s sole and absolute discretion, determine that certain real
property within the Project Area presently meets the requirements of this Plan, and the owner of
such property will be permitted to remain as a conforming owner without a participation
agreement with the Agency, provided such owner continues to operate, use, and maintain the real
property within the requirements of this Plan.
400 USES PERMITTED IN THE PROJECT AREA
401 Designated Land Uses
The Agency intends to rely upon the overall land use designations and zoning
classifications of the City2, as may be amended, and as depicted on Attachment 4 and as set forth
in the City’s Comprehensive Plan Land Use Map, including the future land use map and zoning
classifications, as may be amended. For the most part, the Project Area is proposed as mixed-use,
residential, commercial, retail and office development, and industrial. Provided, however,
nothing herein within this Plan shall be deemed to be granting any particular right to zoning
classification or use.
402 [Reserved]
403 Public Rights-of-Way
The Project Area includes existing maintained public rights-of-way as shown on
Attachment 1, including but not limited to: East 7th North, 2nd East, North Yellowstone Highway,
East 1st North, East Moran View Road, North 5th West, East Parkway, 6th South, Barney Dairy
Road, 2nd South, State Highway 20 and Moody Road. Any new roadways, including new
collectors and/or arterials to be engineered, designed, installed and constructed in the Project
Area, will be constructed in conjunction with any applicable policies and design standards of the
City (and State and Federal standards, as the case may be) regarding dedicated rights-of-way.
Additional public streets, alleys, and easements may be created in the Project Area as needed for
proper development, and other potential roadways generally shown in Attachment 5.
Additional improvements to existing streets and easements may be created, improved, or
extended in the Project Area as needed for development. Existing dirt roadways, streets,
easements, and irrigation or drainage laterals or ditches may be abandoned, closed, or modified
as necessary for proper development of the Project Area, in conjunction with any applicable
policies and standards of the City regarding changes to dedicated rights-of-way, and appropriate
irrigation or drainage districts regarding changes to laterals or ditches.
2 To the extent development occurs within unincorporated Madison County prior to annexation, the Agency will rely
on the overall land use designations and zoning classifications of the County, as may be amended or those used by
the City and allowed by the County in the area of City impact.
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Any development, maintenance and future changes in the interior or exterior street layout
shall be in accordance with the objectives of this Plan and the City’s (or County’s) design
standards; shall be effectuated in the manner prescribed by State and local law; and shall be
guided by the following criteria:
a. A balancing of the needs of proposed and potential new developments for
adequate vehicular access, vehicular parking, and delivery loading docks with the
similar needs of any existing developments permitted to remain. Such balancing
shall take into consideration the rights of existing owners and tenants under the
rules for owner and tenant participation adopted by the Agency for the Project and
any participation agreements executed thereunder;
b. The requirements imposed by such factors as topography, traffic safety, and
aesthetics; and
c. The potential need to serve not only the Project Area and new or existing
developments, but to also serve areas outside the Project Area by providing
convenient and efficient vehicular access and movement.
The public rights-of-way may be used for vehicular and/or pedestrian traffic, as well as
for public improvements, public and private utilities, and activities typically found in public
rights-of-way.
404 Interim Uses
Pending the ultimate development of land by developers and participants, the Agency is
authorized to use or permit the use of any land in the Project Area for interim uses that are not in
conformity with the uses permitted in this Plan. However, any interim use must comply with
applicable City Code or Madison County Code.
405 Development in the Project Area Subject to the Plan
All real property in the Project Area, under the provisions of either a disposition and
development agreement or an owner participation agreement, is made subject to the controls and
requirements of this Plan. No such real property shall be developed, rehabilitated, or otherwise
changed after the date of the adoption of this Plan, except in conformance with the provisions of
this Plan.
406 Construction Shall Comply with Applicable Federal, State, and Local Laws
and Ordinances and Agency Development Standards
All construction in the Project Area shall comply with all applicable state laws, the
Rexburg City Code, as may be amended from time to time, and any applicable City Council
ordinances pending codification, including but not limited to, regulations concerning the type,
size, density and height of buildings; open space, landscaping, light, air, and privacy; the
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undergrounding of utilities; limitation or prohibition of development that is incompatible with
the surrounding area by reason of appearance, traffic, smoke, glare, noise, odor, or similar
factors; parcel subdivision; off-street loading and off-street parking requirements.
In addition to applicable codes, ordinances, or other requirements governing development
in the Project Area, additional specific performance and development standards may be adopted
by the Agency to control and direct redevelopment activities in the Project Area in the event of a
disposition and development agreement or owner participation agreement.
407 [Reserved]
408 Nonconforming Uses
The Agency may permit an existing use to remain in an existing building and site usage
in good condition, which use does not conform to the provisions of this Plan, provided that such
use is generally compatible with existing and proposed developments and uses in the Project
Area. The owner of such a property must be willing to enter into an owner participation
agreement and agree to the imposition of such reasonable restrictions as may be necessary to
protect the development and use of the Project Area.
The Agency may authorize additions, alterations, repairs, or other improvements in the
Project Area for uses which do not conform to the provisions of this Plan where such
improvements are within a portion of the Project Area where, in the determination of the
Agency, such improvements would be compatible with surrounding Project uses and
development.
All nonconforming uses shall also comply with the applicable local ordinances.
409 Design Guidelines for Development under a Disposition and Development
Agreement or Owner Participation Agreement
Under a disposition and development agreement and an owner participation agreement,
the design guidelines and land use elements of the Plan shall be achieved to the greatest extent
feasible, though the Agency retains the authority to grant minor variations under this Plan and
subject to a negotiated agreement between the Agency and the developer or property owner.
Under those agreements, the architectural, landscape, and site plans shall be submitted to
the Agency and approved in writing by the Agency. In such agreements, the Agency may impose
additional design controls. One of the objectives of this Plan is to create an attractive pedestrian
environment in the Project Area. Therefore, such plans shall give consideration to good design
and amenities to enhance the aesthetic quality of the Project Area. These additional design
standards or controls will be implemented through the provisions of any owner participation
agreement or disposition and development agreement. These controls are in addition to any
standard and provisions of any applicable local building or zoning ordinances; provided,
however, each and every development shall comply with all applicable local zoning and building
ordinances.
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500 METHODS OF FINANCING THE PROJECT
501 General Description of the Proposed Financing Method
The Agency is authorized to finance this Project with revenue allocation funds, financial
assistance from the City (loans, grants, other financial assistance), state of Idaho, federal
government or other public entities, interest income, developer advanced funds, donations, loans
from private financial institutions (bonds, notes, line of credit), the lease or sale of Agency-
owned property, public parking revenue, or any other available source, public or private,
including assistance from any taxing district or any public entity.
The Agency is also authorized to obtain advances, lines of credit, borrow funds, and
create indebtedness in carrying out this Plan. The Agency may also consider an inter-fund
transfer from other urban renewal project areas. The principal and interest on such advances,
funds, and indebtedness may be paid from any funds available to the Agency. The City, as it is
able, may also supply additional assistance through City loans and grants for various public
improvements and facilities.
The City, County or any other public agency may expend money to assist the Agency in
carrying out this Project.
As allowed by law and subject to restrictions as are imposed by law, the Agency is
authorized to issue notes or bonds from time to time, if it deems appropriate to do so, in order to
finance all or any part of the Project. Neither the members of the Agency nor any persons
executing the bonds are liable personally on the bonds by reason of their issuance.
502 Revenue Allocation Financing Provisions
The Agency hereby adopts revenue allocation financing provisions as authorized by the
Act, effective retroactively to January 1, 2020. These revenue allocation provisions shall apply to
all taxing districts which are located in or overlap the Revenue Allocation Area shown and
described on Attachments 1 and 2 to this Plan. The Agency shall take all actions necessary or
convenient to implement these revenue allocation financing provisions. The Agency specifically
finds that the equalized assessed valuation of property within the Revenue Allocation Area is
likely to increase as a result of the initiation of the Project.
The Agency, acting by one or more resolutions adopted by its Board, is hereby authorized
to apply all or any portion of the revenues allocated to the Agency pursuant to the Act to pay as
costs are incurred (pay-as-you-go) or to pledge all or any portion of such revenues to the
repayment of any moneys borrowed, indebtedness incurred, or notes or bonds issued by the
Agency to finance or to refinance the Project Costs (as defined in Idaho Code § 50-2903(14)) of
one or more urban renewal projects.
The Agency may consider a note or line of credit issued by a bank or lending institution
premised upon revenue allocation funds generated by a substantial private development
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contemplated by the Study, as defined in Section 502.1, which would allow the Agency to more
quickly fund the public improvements contemplated by this Plan. Likewise, a developer/owner
advanced funding could achieve the same purpose.
Upon enactment of a City Council ordinance finally adopting these revenue allocation
financing provisions and defining the Revenue Allocation Area described herein as part of the
Plan, there shall hereby be created a special fund of the Agency into which the County Treasurer
shall deposit allocated revenues as provided in Idaho Code § 50-2908. The Agency shall use
such funds solely in accordance with Idaho Code § 50-2909 and solely for the purpose of
providing funds to pay the Project Costs, including any incidental costs, of such urban renewal
projects as the Agency may determine by resolution or resolutions of its Board.
A statement listing proposed public improvements and facilities, a schedule of
improvements, an economic feasibility study, estimated project costs, fiscal impact upon other
taxing districts, and methods of financing project costs required by Idaho Code § 50-2905 is
included in this Plan and in Attachment 5 to this Plan. This information necessarily incorporates
estimates and projections based on the Agency’s present knowledge and expectations. The
Agency is hereby authorized to adjust the presently anticipated urban renewal projects and use of
revenue allocation financing of the related Project Costs if the Board deems such adjustment
necessary or convenient to effectuate the general objectives of the Plan in order to account for
revenue inconsistencies and unknown future costs. Agency revenue and the ability to fund
reimbursement of eligible Project Costs is more specifically detailed in the annual budget.
The Agency may also appropriate funds consisting of revenue allocation proceeds on an
annual basis without the issuance of notes or bonds. The Agency has also provided for bonding,
obtaining advances or loans from the Agency, or from the Agency’s other revenue allocation
area, or private entity and financial institutions in order to immediately commence construction
of certain of the public improvements. Developer advanced funding of public improvements
could also achieve the same purpose. The revenue allocation proceeds are hereby irrevocably
pledged for the payment of the principal and interest on the advance of monies or making of
loans or the incurring of any indebtedness such as bonds, notes, and other obligations (whether
funded, refunded, assumed, or otherwise) by the Agency to finance or refinance the Project in
whole or in part, including reimbursement to developers for the cost of eligible public
improvements.
The Agency is authorized to make such pledges as to specific advances, loans, and
indebtedness as appropriate in carrying out the Project.
The Agency reserves the right to either pay for Project Costs from available revenue (pay
as you go basis) or borrow funds by incurring debt through notes or other obligations.
Revenue allocation proceeds are deemed to be only a part of the proposed funding
sources for the payment of public improvements and other project improvements. Additionally,
project funding is proposed to be phased for the improvements, allowing various sources of
funds to be accumulated for use.
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Revenues will continue to be allocated to the Agency until termination of the revenue
allocation area as set forth in Section 800. Attachment 5 incorporates estimates and projections
based on the Agency’s present knowledge and expectations concerning the length of time to
complete the improvements and estimated future revenues. The activity may take longer
depending on the significance and timeliness of development. Alternatively, the activity may be
completed earlier if revenue allocation proceeds are greater or the Agency obtains additional
funds.
502.1 Economic Feasibility Study
Attachment 5, supported by attachments 5A, 5B and 5C, constitute the Economic
Feasibility Study (the “Study”), prepared by Richard Horner. The Study constitutes the financial
analysis required by the Act and is based upon existing information from property owners,
developers, the County, the Agency, the City and others.
502.2 Assumptions and Conditions/Economic Feasibility
Statement
The information contained in Attachment 5 assumes certain completed and projected
actions. All debt is projected to be repaid no later than the duration period of the Plan. The total
amount of indebtedness (and all other loans or indebtedness), developer reimbursement and the
amount of revenue generated by revenue allocation are dependent upon the extent and timing of
private development. Should all of the development take place as projected, the project
indebtedness could be extinguished earlier, dependent upon other legal obligations. Should
private development take longer to materialize, or should the private development be
substantially less than projected, then the amount of revenue generated will be substantially
reduced and debt may continue for its full term.
The Plan and the Plan Attachments incorporate estimates and projections based on the
Agency’s present knowledge and expectations. The Plan proposes certain public improvements
as set forth in Attachment 5, which will facilitate development in the Revenue Allocation Area.
The assumptions set forth in the Study are based upon the best information available to
the Agency through public sources or discussions with property owners, developers, the County,
the City and others. The information has been analyzed by the Agency in order to provide an
analysis that meets the requirements set forth under the Law and Act. At the point in time when
the Agency may seek a loan from lenders or others, a more detailed and then-current financial
pro forma will be presented to those lenders or underwriters for analysis to determine the
borrowing capacity of the Agency. As set forth herein, the Agency reserves the right to fund the
Project on a “pay as you go” basis. The Agency Board will prioritize the activities set forth in
this Plan and determine what funds are available and what activities can be funded. The Agency
will establish those priorities through its mandated annual budgetary process.
The assumptions concerning revenue allocation proceeds are based upon certain
anticipated development, assessed value increases, and assumed tax levy rates as more
specifically set forth in Attachment 5. In projecting new construction, the Study considered
29
conservative projections based on known or proposed developments in the Project Area,
anticipated build-out timeline, and anticipated projected future developments for industrial,
commercial, retail and residential projects.
The types of new construction expected in the Project Area are: light-industrial,
commercial, office, medical and nursing facility, residential, including residential above retail
and office, live-work residences, higher density townhome, and single-family homes, lodging
and retail. Developers have identified significant interest in these development types. The Project
Area has potential for a significant increase in light industrial and commercial growth due to the
proximity to major transportation corridors and population growth. Several large parcels in the
Project Area have recently been acquired for development purposes. Other owners have
expressed interest in developing their properties or selling to a developer. However, without a
method to construct the identified public improvements such as main water and sewer lines and
street infrastructure, development is unlikely to occur in much of the Project Area.
The financial analysis set forth in Attachment 5 has taken into account and excluded
levies that do not flow to the Agency consistent with Idaho Code § 50-2908.
It is understood that application of certain exemptions, including the homeowner’s
exemption and Idaho Code § 63-602K, which provides for personal property tax exemption to
businesses may have the effect of reducing the increment value, which in turn reduces revenue.
502.3 Ten Percent Limitation
Under the Act, the base assessed valuation for all revenue allocation areas cannot exceed
gross/net ten percent (10%) of the current assessed taxable value for the entire City. According to
the Madison County Assessor, the assessed taxable value for the City as of January 1, 20193, less
homeowners’ exemptions, is $1,258,690,595.00. Therefore, the 10% limit is $125,869,059.00.
The 2019 adjusted base assessment roll values for the Agency’s four (4) existing revenue
allocation areas, less homeowners’ exemptions are as follows:
North Highway $6,646,722.004
Downtown Rexburg $33,297,201.00
University Boulevard $8,190,994.00
North Interchange $4,145,769.00
3 Due to the timing of the assessment process and creation of this Plan, the 2019 values have been used to establish
compliance with the 10% limitation. Using the 2019 values, the total value of the existing revenue allocation areas
combined with the value of this Project Area are less than 6.4% of the total taxable value of the City. Even assuming
an increase in values for 2020, the combined values of the revenue allocation areas would not exceed 10% of the
current assessed taxable value for the entire City. The City values are used as a more conservative analysis of the
10% valuation limitation.
4 The base assessment roll includes the value of parcels recently deannexed pursuant to Rexburg City Council
Ordinance No. 1230, dated June 17, 2020, adopting the First Amendment to the Second Amended and Restated
Urban Renewal Plan, North Highway Urban Renewal Project, Including South Addition. The deannexation is
effective retroactive to January 1, 2020.
30
The estimated base value for the proposed Project Area (after the agricultural exemption
is lifted5) is $27,698,480.00. The combined total adjusted base assessment roll values for all
existing revenue allocation areas including this Project Area are $79,979,166.00 which is less
than 10% of the City’s 2019 value.
502.4 Financial Limitation
The Study identifies several capital improvement projects. Use of any particular funding
source for any particular purpose is not assured or identified. Use of the funding source shall be
conditioned on any limitations set forth in the Law, the Act, or by contract. If revenue allocation
funds are unavailable, then the Agency will need to use a different funding source for that
improvement.
The amount of funds available to the Agency from revenue allocation financing is
directly related to the assessed value of new improvements within the Revenue Allocation Area.
Under the Act, the Agency is allowed the revenue allocation generated from inflationary
increases and new development value. Increases have been assumed based upon the projected
value of new development as that development occurs along with possible land reassessment
based on a construction start.
The Study, with the various estimates and projections, constitutes an economic feasibility
study. Costs and revenues are analyzed, and the analysis shows the need for public capital funds
during the Project. Multiple financing sources including proposed revenue allocation notes,
annual revenue allocations, developer contributions, City and/or County contributions, interfund
loan, and other funds are shown. This Study identifies the kind, number, and location of all
proposed public works or improvements, a detailed list of estimated project costs, a description
of the methods of financing illustrating project costs, and the time when related costs or
monetary obligations are to be incurred. See Idaho Code § 50-2905. Based on these funding
sources, the conclusion is that the Project is feasible.
The information contained in the Study assumes certain projected actions. First, the
Agency has projected an interfund loan from the University Boulevard Project Area, which loan
is to be re-paid prior to termination of the University Boulevard Project Area. Additionally, the
Agency has projected revenue allocation funds based on known or anticipated developments
within the Project Area, where establishment of this Plan was a critical factor in the
developments moving forward. Under the provisions of the Act, revenue allocation may continue
until the end of the Plan term. Third, the total amount of indebtedness and the amount of revenue
generated by revenue allocation is dependent upon the extent and timing of private development.
The Agency may also re-prioritize projects and the location of those projects pursuant to market
5 Pursuant to House Bill 560 enacted during the 2020 Legislative Session, as of July 1, 2020, there is no longer a
speculative value exemption for agricultural land. Instead, the market value of land actively devoted to agriculture is
its “actual use value.” This statutory change will have an impact on the current allocation of value between the base
value and the increment value as there is no longer an agricultural tax exemption. Previously, any increase in
valuation caused by the removal of the agricultural tax exemption from undeveloped agricultural land in a revenue
allocation area was added to the base assessment roll. With the removal of the exemption, going forward the base
value of agricultural land will be the actual use value. To be conservative, this Plan has considered an increase in the
base assessment roll stemming from the removal of any existing agricultural exempti ons.
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conditions, project timing, funding availability, etc. as more specifically detailed in the annual
budget.
The Agency reserves the discretion and flexibility to use revenue allocation proceeds in
excess of the amounts projected in the Study for the purpose of funding the additional identified
projects and improvements. The projections in the Study are based on reasonable assumptions
and existing market conditions. However, should the Project Area result in greater than
anticipated revenues, the Agency specifically reserves the ability to fund the additional activities
and projects identified in this Plan. Further, the Agency reserves the discretion and flexibility to
use other sources of funds unrelated to revenue allocation to assist in the funding of the
improvements and activities identified, including but not limited to owner participation
agreements and disposition and development agreements. The Agency may also, re-prioritize
projects pursuant to market conditions, project timing, funding availability, etc. as more
specifically detailed in the annual budget.
The proposed timing for the public improvements may very well have to be adjusted
depending upon the availability of some of the funds and the Agency’s ability to finance any
portion of the Project. Any adjustment to Project timing or funding is technical or
ministerial in nature and shall not be considered a modification of the Plan pursuant to
Idaho Code Section 50-2903A.
Attachment 5 lists those public improvements the Agency may finance or reimburse the
developer and public entities for through the term of the Plan. The costs of improvements are
estimates only as it is impossible to know with any certainty what the costs of improvements will
be in future years. There is general recognition that construction costs fluctuate and are impacted
by future unknowns, such as, the cost of materials and laborers. Final costs will be determined by
way of construction contract public bidding or by an agreement between the developer/owner
and Agency. The listing of public improvements does not commit the Agency (or City and/or
County) to any particular level of funding; rather, identification of the activity in the Plan allows
the Agency to negotiate the terms of any reimbursement with the developer and/or the public
entities. This Plan does not financially bind or obligate the Agency (or City and/or County) to
any project or property acquisition; rather, for purposes of determining the economic feasibility
of the Plan certain projects and expenditures have been estimated and included in the analysis.
Agency revenue and the ability to fund reimbursement of eligible Project Costs is more
specifically detailed in any participation agreement and in the annual budget adopted by the
Agency Board. The proposed location and siting of roads and utilities in the Project Area is
generally shown in Attachment 5 recognizing that the specific location of roads, pedestrian
pathways, open space and utilities will depend on the type and timing of development. The
change in the location of the improvements shown on Attachment 5 does not constitute a
modification to the Plan.
The Agency reserves its discretion and flexibility in deciding which improvements are
more critical for development or redevelopment, and the Agency intends to coordinate its public
improvements with associated development by private developers/owners. Where applicable, the
Agency also intends to coordinate its participation in the public improvements with the receipt of
32
certain grants or loans which may require the Agency’s participation in some combination with
the grant and loan funding.
Generally, the Agency expects to develop those improvements identified in Attachment 5
first, in conjunction with private development within the Project Area generating the increment
as identified in Attachment 5.
The Plan has shown that the equalized valuation of the Revenue Allocation Area as
defined in the Plan is likely to increase as a result of the initiation and completion of urban
renewal projects pursuant to the Plan.
502.5 [Reserved]
502.6 Participation with Local Improvement Districts and/or Business
Improvement Districts
Under the Idaho Local Improvement (“LID”) District Code, Chapter 17, Title 50, Idaho
Code, the City has the authority to establish local improvement districts for various public
facilities, including, but not limited to, streets, curbs, gutters, sidewalks, storm drains,
landscaping, and other like facilities. To the extent allowed by the Law and the Act, the Agency
reserves the authority, but not the obligation, to participate in the funding of local improvement
district facilities. This participation may include either direct funding to reduce the overall cost
of the LID or to participate as an assessed entity to finance the LID project. Similarly, to the
extent allowed by the Law and the Act, the Agency reserves the authority, but not the obligation,
to participate in the funding of the purposes specified under the Business Improvement Districts,
Chapter 26, Title 50, Idaho Code.
502.7 Issuance of Debt and Debt Limitation
Any debt incurred by the Agency as allowed by the Law and Act shall be secured by
revenue allocation funds as allowed by the Act. All such debt shall be repaid within the duration
of this Plan, except as may be authorized by law.
502.8 Impact on Other Taxing Districts and Levy Rate
An estimate of the overall impact of the revenue allocation project on each taxing district
is shown in the Study through the new development projections set forth in Attachment 5.
The assessed value for each property in a revenue allocation area consists of a base value
and an increment value. The base value is the assessed value as of January 1 of the year in which
a revenue allocation area is approved by a municipality, with periodic adjustments allowed by
Idaho law. The increment value is the difference between the adjusted base assessed value and
current assessed value in any given year while the property is in a revenue allocation area. Under
Idaho Code § 63-802, taxing entities are constrained in establishing levy rates by the amount
each budget of each taxing district can increase on an annual basis. Taxing entities submit
proposed budgets to the County Board of Commissioners, which budgets are required to comply
33
with the limitations set forth in Idaho Code § 63-802. Therefore, the impact of revenue allocation
on the taxing entities is more of a product of the imposition of Idaho Code § 63-802, then the
effect of urban renewal.
The County Board of Commissioners calculates the levy rate required to produce the
proposed budget amount for each taxing entity using the assessed values which are subject to
each taxing entity’s levy rate. Assessed values in urban renewal districts which are subject to
revenue allocation (incremental values) are not included in this calculation. The combined levy
rate for the taxing entities is applied to the incremental property values in a revenue allocation
area to determine the amount of property tax revenue which is allocated to an urban renewal
agency. The property taxes generated by the base values in the urban renewal districts and by
properties outside revenue allocation areas are distributed to the other taxing entities. Properties
in revenue allocation areas are subject to the same levy rate as they would be outside a revenue
allocation area. The difference is how the revenue is distributed. If the overall levy rate is less
than assumed, the Agency will receive fewer funds from revenue allocation.
In addition, without the Revenue Allocation Area and its ability to pay for public
improvements and public facilities, fewer substantial improvements within the Revenue
Allocation Area would be expected during the term of the Plan; hence, there would be lower
increases in assessed valuation to be used by the other taxing entities.
One result of new construction occurring outside the revenue allocation area (Idaho Code
§§ 63-802 and 63-301A) is the likely reduction of the levy rate as assessed values increase for
property within each taxing entity’s jurisdiction. From and after December 31, 2006, Idaho Code
§ 63-301A prohibits taxing entities from including, as part of the new construction roll, the
increased value related to new construction within a revenue allocation area until the revenue
allocation authority is terminated. Any new construction within the Project Area is not available
for inclusion by the taxing entities to increase their budgets. Upon termination of this Plan or
deannexation of area, the taxing entities will be able to include the accumulated new construction
roll value in setting the following year’s budget and revenue from such value is not limited to the
three percent increase allowed in Idaho Code § 63-802(1)(a).
As the 2020 certified levy rates are not determined until late September 2020, the 2019
certified levy rates have been used in the Study for purposes of the analysis. For Tax Year 20196,
those districts and rates for the parcels located within the City are as follows:7
City Parcel Taxing Districts Levy Rates:
Madison County .005206531
Madison County Ambulance .000400000
6 Due to the timing of the taxing districts’ budget and levy setting process, certification of the 2020 levy rates did not
occur until this Plan had been prepared. In order to provide a basis to analyze the impact on the taxing entities, the
2019 levy rates are used. Use of the 2019 levy rates provides a more accurate base than estimating the 2020 levy
rates.
7 It is unclear how the personal property tax exemption set forth in Idaho Code § 63-602KK may impact the levy
rate.
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Madison County Mosquito Abatement .000330256
Madison County Road & Bridge .001273733
Madison Library District .000575611
Madison School #321 .000173557
City of Rexburg .004152294
Rexburg Cemetery .000048479
Sugar City Cemetery .000133825
TOTAL8 .012294286
For Tax Year 2019,9 those districts and rates for the parcels located within the
unincorporated County are as follows:10
County Parcel Taxing Districts Levy Rates:
Madison County .005206530
Madison County Ambulance .000400000
Madison County Mosquito Abatement .000330256
Madison County Road & Bridge .001273733
Madison Library District .000575611
Madison School #321 .000173557
Madison Fire .001109631
Rexburg Cemetery .000048479
Sugar City Cemetery .000133825
Sugar Salem Scl Community Library .000173694
Sugar-Salem School #322 .000045544 (tort only)
TOTAL11 0.009470860
The Study has made certain assumptions concerning the levy rate. First, it is anticipated
the parcels currently located outside the jurisdictional boundaries of the City and in
unincorporated Madison County will be annexed into the City prior to development. As a result,
the levy rate applied to parcels within the boundaries of the City has been used to estimate
revenue. Second, the levy rate is estimated to stay level for the life of the revenue allocation area.
As the actual impact of the expiration of any existing revenue allocation areas and/or property
tax abatements granted pursuant to Idaho Code § 63-602NN, as well as property value
fluctuations on the levy rate is unknown, the Study has assumed a conservative levy rate of .009.
The annual increment value is expected to increase by approximately 1% over the term of the
Plan once the improvements have been completed and fully assessed by the County. If the
8 Net of voter approved bonds and levies.
9 Due to the timing of the taxing districts’ budget and levy setting process, certification of the 2020 levy rates did not
occur until this Plan had been prepared. In order to provide a basis to analyze the impact on the taxing entities, the
2019 levy rates are used. Use of the 2019 levy rates provides a more accurate base than estimating the 2020 levy
rates.
10 It is unclear how the personal property tax exemption set forth in Idaho Code § 63-602KK may impact the levy
rate.
11 Net of voter approved bonds and levies.
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overall levy rate is less than projected, or if expected development fails to occur as estimated, the
Agency shall receive fewer funds from revenue allocation.
Pursuant to Idaho Code § 50-2908, the Agency is not entitled to revenue allocation
proceeds from certain levy increases which are allowed by either specific statutory authorization
or approved by an election of the qualified electors of the particular taxing district. Therefore, for
any levy election, the Agency will not receive revenue allocation funds which would have been
generated by imposing that levy on the assessed valuation within the Project Area. The Study has
taken this statute into account.
503 Phasing and Other Fund Sources
The Agency anticipates funding only a portion of the entire cost of the public
improvements shown on Attachment 5. Other sources of funds shall include City and/or County
participation in projects (as may be budgeted annually by the City and/or County) and developer
participation through the advance funding of projects subject to reimbursement for eligible
public infrastructure costs. Agency participation shall be determined by the amount of revenue
allocation funds generated. This Plan does not bind the City or County to fund any projects.
504 Lease Revenue and Bonds
Under the Law (Idaho Code § 50-2012), the Agency is authorized to issue revenue bonds
to finance certain public improvements identified in the Plan. Under that type of financing, the
public entity would pay the Agency a lease payment annually which provides certain funds to the
Agency to retire the bond debt. Another variation of this type of financing is sometimes referred
to as conduit financing, which provides a mechanism where the Agency uses its bonding
authority for the Project, with the end user making payments to the Agency to retire the bond
debt. These sources of revenues are not related to revenue allocation funds and are not
particularly noted in the Study, because of the “pass through” aspects of the financing. Under the
Act, the economic feasibility study focuses on the revenue allocation aspects of the Agency’s
financial model.
These financing models typically are for a longer period of time than the 20-year period
set forth in the Act. However, these financing models do not involve revenue allocation funds,
but rather funds from the end users which provide a funding source for the Agency to continue to
own and operate the facility beyond the term of the Plan as allowed by Idaho Code § 50-2905(8)
as those resources involve funds not related to revenue allocation funds.
505 Membership Dues and Support of Community Economic Development
The Act is premised upon economic development being a valid public purpose. To the
extent allowed by the Law and the Act, the Agency reserves the authority to use revenue
allocation funds to contract with non-profit and charitable organizations established for the
purpose of supporting economic development and job creation. Additionally, the Agency
reserves the authority to expend revenue allocation funds to join, participate and support non-
profit organizations established to support Agency best practices and administration. The line
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item of Operating Expenses within the Study shall be deemed to include expenditures for the
purposes described in this section as may be deemed appropriate during the annual budgetary
process.
600 ACTIONS BY THE CITY AND COUNTY
The City and County shall aid and cooperate with the Agency in carrying out this Plan
and shall take all actions necessary to ensure the continued fulfillment of the purposes of this
Plan and to prevent the recurrence or spread in the area of conditions causing deterioration.
Actions by the City and County may include, but not be limited to, the following:
a. Institution and completion of proceedings necessary for changes and
improvements in private and publicly owned public utilities within or affecting
the Project Area.
b. Revision of zoning (if necessary) within the Project Area to permit the land uses
and development authorized by this Plan.
c. Imposition wherever necessary of appropriate controls within the limits of this
Plan upon parcels in the Project Area to ensure their proper development and use.
d. Provision for administrative enforcement of this Plan by the City after
development. The City, County and the Agency may develop and provide for
enforcement of a program for continued maintenance by owners of all real
property, both public and private, within the Project Area throughout the duration
of this Plan.
e. Building Code enforcement.
f. Performance of the above actions and of all other functions and services relating
to public peace, health, safety, and physical development normally rendered in
accordance with a schedule which will permit the redevelopment of the Project
Area to be commenced and carried to completion without unnecessary delays.
g. Institution and completion of proceedings necessary for the establishment of a
local improvement district under Chapter 17, Title 50, Idaho Code, or a BID
under Chapter 26, Title 50, Idaho Code.
h. The undertaking and completing of any other proceedings necessary to carry out
the Project.
i. Administration of Community Development Block Grant funds that may be made
available for this Project.
j. Appropriate agreements with the Agency for administration, supporting services,
funding sources, and the like.
37
k. The waiver of any hookup or installation fee for sewer, water, or other utility
services for any facility owned by any public agency, including any Agency
facility.
l. Joint funding of certain public improvements, including but not limited to
roadway improvements and/or improvements to sewer and water facilities.
m. Use of public entity labor, services, and materials for construction of the public
improvements listed in this Plan.
n. The waiver of any city impact fee for development within the Project Area.
o. Assist with coordinating and implementing the public improvements in the
Project Area identified in the Study.
The foregoing actions, if taken by the City, do not constitute any commitment for
financial outlays by the City.
Actions by the County shall include, but not be limited to, entering into an agreement
with the Agency and/or the City as may be necessary to make improvements to the portion of the
Project Area located within the boundaries of the County, to coordinate with the City on
annexation proceedings. The foregoing actions, if taken by the County, do not constitute any
commitment for financial outlays by the County.
601 Maintenance of Public Improvements
The Agency has not identified any commitment or obligation for long-term maintenance
of the public improvements identified. The Agency will need to address this issue with the
appropriate entity, public or private, who has benefited from or is involved in the ongoing
preservation of the public improvement.
700 ENFORCEMENT
The administration and enforcement of this Plan, including the preparation and execution
of any documents implementing this Plan, shall be performed by the Agency and/or the City.
800 DURATION OF THIS PLAN, TERMINATION, AND ASSET REVIEW
Except for the nondiscrimination and nonsegregation provisions which shall run in
perpetuity, the provisions of this Plan shall be effective, and the provisions of other documents
formulated pursuant to this Plan, shall be effective for twenty (20) years from the effective date
of the Plan subject to modifications and/or extensions set forth in Idaho Code § 50-2904. The
revenue allocation authority will expire on December 31, 2040, except for any revenue allocation
proceeds received in calendar year 2041, as contemplated by Idaho Code § 50-2905(7). The
38
Agency may use proceeds in 2041 to complete the projects set forth herein. As stated in the Plan,
any owner participation agreement or disposition and development agreement obligations will
cease as of December 31, 2040.
Idaho Code § 50-2093(5) provides the Agency shall adopt a resolution of intent to
terminate the revenue allocation area by September 1. In order to provide sufficient notice of
termination to the affected taxing districts to allow them to benefit from the increased budget
capacity, the Agency will use its best efforts to provide notice of its intent to terminate this Plan
and its revenue allocation authority by May 1, 2041, or if the Agency determines an earlier
terminate date, then by May 1 of the early termination year:
a. When the Revenue Allocation Area plan budget estimates that all financial
obligations have been provided for, the principal of and interest on such moneys,
indebtedness, and bonds have been paid in full or when deposits in the special
fund or funds created under this chapter are sufficient to pay such principal and
interest as they come due, and to fund reserves, if any, or any other obligations of
the Agency funded through revenue allocation proceeds shall be satisfied and the
Agency has determined no additional project costs need be funded through
revenue allocation financing, the allocation of revenues under Idaho Code § 50-
2908 shall thereupon cease; any moneys in such fund or funds in excess of the
amount necessary to pay such principal and interest shall be distributed to the
affected taxing districts in which the Revenue Allocation Area is located in the
same manner and proportion as the most recent distribution to the affected taxing
districts of the taxes on the taxable property located within the Revenue
Allocation Area; and the powers granted to the urban renewal agency under Idaho
Code § 50-2909 shall thereupon terminate.
b. In determining the termination date, the Plan shall recognize that the Agency shall
receive allocation of revenues in the calendar year following the last year of the
revenue allocation provision described in the Plan.
c. For the fiscal year that immediately predates the termination date, the Agency
shall adopt and publish a budget specifically for the projected revenues and
expenses of the Plan and make a determination as to whether the Revenue
Allocation Area can be terminated before January 1 of the termination year
pursuant to the terms of Idaho Code § 50-2909(4). In the event that the Agency
determines that current tax year revenues are sufficient to cover all estimated
expenses for the current year and all future years, by May 1, but in any event, no
later than September 1, the Agency shall adopt a resolution advising and notifying
the local governing body, the county auditor, and the State Tax Commission,
recommending the adoption of an ordinance for termination of the Revenue
Allocation Area by December 31 of the current year, and declaring a surplus to be
distributed as described in Idaho Code § 50-2909 should a surplus be determined
to exist. The Agency shall cause the ordinance to be filed with the office of the
county recorder and the Idaho State Tax Commission as provided in Idaho Code §
63-215.
39
Upon termination of the revenue allocation authority of the Plan to the extent the Agency
owns or possesses any assets, subject to the following paragraph, the Agency intends to dispose
of any remaining assets by granting or conveying or dedicating such assets to the City, unless
based on the nature of the asset, disposition to another public entity is more appropriate.
As allowed by Idaho Code § 50-2905(8), the Agency may retain assets or revenues
generated from such assets as long as the Agency shall have resources other than revenue
allocation funds to operate and manage such assets. Similarly, facilities which provide a lease
income stream to the Agency for full retirement of the facility debt will allow the Agency to
meet debt services obligations and provide for the continued operation and management of the
facility.
900 PROCEDURE FOR AMENDMENT OR MODIFICATION
To the extent there is any outstanding loans or obligations, this Plan shall not be modified
pursuant to the provisions set forth in Idaho Code § 50-2903A. Modification of this Plan results
in a reset of the base value for the year immediately following the year in which the modification
occurred to include the current year’s equalized assessed value of the taxable property in the
revenue allocation area, effectively eliminating the Agency’s revenue stream as more fully set
forth in Idaho Code § 50-2903A subject to certain limited exceptions contained therein,
including the exception to allow an amendment to support growth of an existing commercial or
industrial project. I.C. § 50-2903A(1)(a)(iv). As more specifically identified above, the Agency’s
projections are based on estimated values, estimated levy rates, estimated future development,
and estimated costs of future construction/improvements. Annual adjustments as more
specifically set forth in the Agency’s annual budget will be required to account for more/less
estimated revenue and prioritization of projects. Any adjustments for these stated purposes are
technical and ministerial and are not deemed a modification under Idaho Code § 50-
2903A(1)(a)(i).
1000 SEVERABILITY
If any one or more of the provisions contained in this Plan to be performed on the part of
the Agency shall be declared by any court of competent jurisdiction to be contrary to law, then
such provision or provisions shall be null and void and shall be deemed separable from the
remaining provisions in this Plan and shall in no way affect the validity of the other provisions of
this Plan.
1100 ANNUAL REPORT AND OTHER REPORTING REQUIREMENTS
Under the Law, the Agency is required to file with the City, on or before March 31 of
each year, a report of the Agency’s activities for the preceding calendar year, which report shall
include a complete financial statement setting forth its assets, liabilities, income, and operating
expenses as of the end of such calendar year. This annual report shall be considered at a public
meeting to report these findings and take comments from the public.
40
Additionally, the Agency must comply with certain other reporting requirements as set
forth in Idaho Code § 67-450E, the local government registry portal, Idaho Code § 50-2913, the
tax commission plan repository, and Idaho Code § 50-2903A, the tax commission’s plan
modification annual attestation. Failure to report the information requested under any of these
statutes results in significant penalties, including loss of increment revenue, and the imposition
of other compliance measures by the Madison County Board of County Commissioners.
1200 APPENDICES, ATTACHMENTS, EXHIBITS, TABLES
All attachments and tables referenced in this Plan are attached and incorporated herein by
their reference. All other documents referenced in this Plan but not attached are incorporated by
their reference as if set forth fully.
Attachment 1
Boundary Map of Urban Renewal Project Area and Revenue Allocation Area
Attachment 2
Legal Description of Urban Renewal Project Area and Revenue Allocation Area
Attachment 3
Private Properties Which May Be Acquired by Agency
1. The Agency has not identified any particular parcel for the construction of public
improvements or for private redevelopment. Properties which may be subject to
acquisition include parcels to:
a) assemble with adjacent parcels to facilitate redevelopment;
b) assemble with adjacent rights-of-way to improve configuration and enlarge
parcels for redevelopment;
c) reconfigure sites for development and possible extension of streets or pathways;
d) assemble for future transfer to qualified developers to facilitate the development
of mixed-use, residential, commercial and retail, and industrial areas; or
e) assemble for the construction of certain public improvements, including but not
limited to streets, streetscapes, water and sewer improvements, environmental
remediation/site preparation, public parking, community facilities, parks,
pedestrian/bike paths and trails, recreation access points, and other public
facilities.
2. The Agency reserves the right to acquire any additional right-of-way or access routes near
or around existing or planned rights-of-way.
3. The Agency reserves the right to acquire property needed to provide adequately sized sites
for high priority projects for the development of public improvements (the exact location
of which has not been determined).
4. Other parcels may be acquired for the purpose of facilitating catalyst or demonstration
projects, constructing public parking, constructing new streets or pathways, enhancing
public spaces, or to implement other elements of the urban renewal plan strategy and/or
any master plan for the Project Area.
Attachment 4
Map Depicting Expected Land Uses and Current Zoning Map
of the Project Area
4
26 25
35 36
23 24
26 25
29 28
32 33
30 29
31 32
24 19
25 30
20 21
29 28
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45656121
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Barney Dairy Rd
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N 1
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E 2nd N
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University Blvd
Rexburg Comprehensive Plan MapRexburg Comprehensive Plan Map
The information contained in this map is for reference
purposes only. Madison County and the City of Rexburg
cannot be held responsible for misuse of the data.0 0.25 0.5 0.75 10.13
Miles
Updated: February 18, 2020
Last Amended: November 16, 2010
Adopted: September 3, 2008
Open Space
Public Facility
UniversityAgriculture / Rural Cluster
Single Family Residential
Low-Moderate Density Residential
Moderate-High Density Residential
Neighborhood Commercial / Mixed Use
Downtown Commercial / Mixed Use
Commercial
Industrial
4 3
26 25
35 36
23 24
26 25
29 28
32 33
30 29
31 32
24 19
25 30
20 21
29 28
17 16
20 21
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36 31
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45656121
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W 4th S
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E Viking Dr
Barney Dairy Rd
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N 1
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W Moody Rd E Moody Rd
N 9
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E 4th N
S 3
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W Poleline Rd E Poleline Rd
E 2nd N
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University Blvd
Rexburg City Limit
Rexburg Zoning
Heming Pro-Zone
Low Density Resident 1/Professional Overlay
Medium Density Residential 1/Professional Overlay
High Density Residential 2/Professional Overlay
Open Space
Transitional Agriculture 1
Transitional Agriculture 2
Rural Residential 1
Rural Residential 2
Low Density Residential 1
Low Density Residential 2
Low Density Residential 3
Medium Density Residential 1
Medium Density Residential 2
High Density Residential 1
High Density Residential 2
Mixed Use 1
Mixed Use 2
Community Business Center
General Business District
Regional Business Center
Central Business District
Neighborhood Business District
Residential Business District
Light Industrial
Heavy Industrial
Professional Office Zone
Technology and Office Zone
Public Facilities
University District
Airport District
Project Redevelopment Option
0 0.25 0.5 0.75 10.13
Miles
The information contained in this map is for reference
purposes only. Madison County and the City of Rexburg
cannot be held responsible for misuse of the data.
Rexburg ZoningRexburg Zoning
Updated: February 18, 2020
Attachment 5
Statement of Proposed Public Improvements, Costs, Revenue,
Tax Impacts, and Financing Methods/Economic Feasibility Study
4 | P a g e
Attachment 5
North Central Urban Renewal Project Area
Statement of Proposed Public Improvements, Costs, Revenue, Tax Impacts, and Financing
Methods/Economic Feasibility Study
Introduction
The Urban Renewal Plan for the North Central Urban Renewal Project (the “Plan”) and
the corresponding revenue allocation area’s (the “Project Area”) termination date is December
31, 2040, however, recognizing Idaho Code § 50-2905(7) allows the Urban Renewal Agency of
the City of Rexburg, Idaho, also known as the Rexburg Redevelopment Agency (the “Agency”)
to receive the allocation of revenues in the calendar year following the last year of the revenue
allocation provision in the Plan, expenditure of funds for projects is anticipated through 2041.
Anticipated costs of the urban renewal project (the “Project”), revenue sources, estimated
revenue allocations, and the amount of indebtedness required to complete the Project are shown
in Attachments 5A, 5B, and 5C. Attachments 5A, 5B and 5C necessarily incorporate estimates
and projections based on the Agency’s present knowledge and expectations. The Agency may
re-prioritize the presently anticipated list of public improvements based on the Agency’s annual
estimated revenues and proposed budget as further set forth in the Plan.
Attachment 5A depicts estimated net taxable value of new private development within
the Project Area through 2041. This analysis includes projected revenues from anticipated
development within the Project Area, as well as projected new development based on projected
growth. Conservative inflationary increases of 1%/year are projected. Attachment 5A also
demonstrates the overall estimated impact of revenue allocation on the affected taxing districts
by showing the new development projections, which increment value will be placed on the new
construction roll at termination. As set forth in this Plan, the taxing districts have independent
authority concerning the setting of their budgets as limited by Idaho Code Sections 63-802 and
63-301A.
Attachment 5B sets forth the revenue projections for the Project Area through 2041 based
the new development revenue projections and the estimated applicable levy rate. Attachment 5B
estimates a conservative levy rate of .009, which is projected to remain constant throughout the
duration of the Plan and Project Area.
Attachment 5C sets forth the cash flow analysis showing the Project Area is anticipated
to generate sufficient revenue to cover the costs of the proposed public infrastructure
improvements, which are set forth below. Attachment 5C includes the description of the
methods of financing, which are subject to change based on the Agency’s annual budget, as well
4 | P a g e
as the time when projects are expected to be funded. Those projects identified in the earlier
years are assumed to have a higher prioritization.
The information contained in Attachment 5A, 5B and 5C assumes certain projected
actions. Under the provisions of the Local Economic Development Act, Chapter 29, Title 50,
Idaho Code, revenue allocation shall continue until any obligation is satisfied. All debt is
projected to be repaid no later than the duration period of the Plan. Second, the total amount of
bonded indebtedness and the amount of revenue generated by revenue allocation is dependent
upon the extent and timing of private development. Attachment 5C projects expenditures
through the term of the Plan. If all of the planned development takes place as projected, bonded
or other indebtedness could be extinguished earlier, dependent upon the bond sale documents or
other legal obligations. If private investment takes longer to materialize, or should the private
development be substantially less than projected, then the amount of revenue generated will be
substantially reduced. In that instance certain public improvement projects may not be
completed.
This Plan and Attachments 5A, 5B, and 5C incorporate estimates and projections based
on the Agency’s present knowledge and expectations. This Plan proposes certain public
improvements, including utility improvements, the improvements to streetscapes, street
improvement, improvements to intersections and traffic signals, sidewalks, curb and gutters,
street lighting, pedestrian pathways, open space, points of access for recreation and other
infrastructure costs, which will facilitate development in the revenue allocation area.
4 | P a g e
The proposed public improvement list, including the estimated costs of construction, is as
follows:
Economic Feasibility Statement
Attachments 5A, 5B, and 5C, with their various estimates and projections, constitute an
economic feasibility study. Costs and revenues are analyzed, and the analysis shows the need for
public capital funds during the project. Multiple financing sources including proposed annual
revenue allocation funds (pay-as-you-go), an interfund loan from an existing project area, notes
and bonds, developer contributions, City and/or County contributions (to the extent budgeted),
grant funds, in-kind services, and other public funds are shown. Based on the information
contained in Attachments 5A, 5B and 5C, the conclusion is that the project is feasible.
The map attached hereto identifies the kind, number, and location of all proposed public
works or improvements consistent with the detailed list of estimated project costs set forth
above.
4 | P a g e
The proposed timing for the public improvements may very well have to be modified
depending upon the availability of the funds and the Agency’s ability or desire to sell an initial
issue of notes or bonds, including a developer note.
Description of Public Financing Sources
Revenue Allocation-Revenue allocation financing (sometimes referred to as tax
increment financing) applies the increase in property taxes within a defined area to public
infrastructure improvements. The improvements are designed to enhance the private
development potential, thus creating the additional assessed valuation. The process is initiated
upon action of a municipality, whereupon the County Assessor will establish the assessed
valuation within the revenue allocation area for a base year. The incremental revenue may be
applied directly as it is received by the authorized redevelopment agency or, more commonly,
applied as a long-term revenue stream for the issuance of bonds or other debt obligations. At
termination, the increment value is returned to the regular tax rolls for the affected taxing
districts to use in setting their levies. Further, the increment value is placed on the new
construction roll and may be available for an affected taxing district to increase budget capacity,
subject to certain limitations. Revenue allocation has been available to all Idaho cities since
1988 and is anticipated to be the major, and thus most essential, component for Plan financing.
Loans and Notes – The time delay from initiation of Plan implementation and the
establishment of the base assessment role is problematic with revenue allocation. Several years
may elapse before the incremental tax revenue stream can adequately demonstrate the strength
necessary to issue bonds. Short term notes or loans issued by local lenders or others are a means
of providing the bridge financing necessary to begin development work. Bond proceeds can then
be used to “take out” the notes. The Agency may borrow other funds from other sources as
needed and authorized under the Plan.
Local Improvement Districts (LIDs) – This financing mechanism is used to fund capital
improvements and distribute the cost among a number of property owners. Cities, Counties, and
highway districts often use LIDs for local street and sewer projects. A series of ordinances are
adopted to create the district, approve the assessment roll, and issue construction warrants and
long-term bonds. The tax-exempt bonds are issued through bid or negotiated sale with revenue
collection tied to the property tax system. Bond terms are usually twenty years.
Community Development Block Grant (CDBG) – The City may choose to submit an
application from time to time for Idaho Community Development Block Grant funding in order
to achieve the objectives set forth in this Plan. A block grant application must meet certain
eligibility requirements, and is constrained to a specific list of eligible activities. However,
Community Development Block Grant funding may be some assistance in completing portions
of the Agency’s funding objectives.
4 | P a g e
Developer Advances – Developer Advances may be a desirable approach to initiate
development projects given the delayed flow of revenue under tax increment financing. The
terms of the advance are negotiable on a project-by-project basis, but possible uses include;
master planning, project administration, necessary legal work, and even preliminary public
infrastructure work.
City or Agency Advances – A city (or other public entity) or agency may provide
advances or contributions for certain public improvements from another existing project area.
Conduit Financing – The Agency reserves the right to participate as a conduit financing
vehicle for those projects described in the Plan, using lease or revenue proceeds, rather than
revenue allocation proceeds.
Brownfield Loans/Grants - The City may choose to pursue a brownfield grant to assist a
private property owner or municipality clean up a contaminated site located within an Urban
Renewal Area.
Financing Conclusion
This Plan has shown that the equalized valuation of the revenue allocation area as defined
in the Plan is likely to increase as a result of the initiation and completion of urban renewal
projects pursuant to the Plan.
4813-5882-0041, v. 5
Attachment 5A
Estimated Net Taxable Value of New Private Development
New Construction
Construction
Year Tax Year
Fiscal Year
Ending
Beginning
Balance
New
Construction 1% Inflation Cumulative Total
Basic
American
Foods
Thompson
Farms
Centennial
Homes Rudd & Co Other Total
2020 2021 2022 31,266,286 - 31,266,286 12,500,000 11,926,286 5,536,000 1,304,000 31,266,286
2021 2022 2023 31,266,286 45,901,714 312,663 77,480,663 25,000,000 15,901,714 5,000,000 45,901,714
2022 2023 2024 77,480,663 45,901,714 774,807 124,157,184 25,000,000 15,901,714 5,000,000 45,901,714
2023 2024 2025 124,157,184 30,000,000 1,241,572 155,398,756 25,000,000 5,000,000 30,000,000
2024 2025 2026 155,398,756 30,000,000 1,553,988 186,952,744 25,000,000 5,000,000 30,000,000
2025 2026 2027 186,952,744 17,500,000 1,869,527 206,322,271 12,500,000 5,000,000 17,500,000
2026 2027 2028 206,322,271 2,000,000 2,063,223 210,385,494 2,000,000 2,000,000
2027 2028 2029 210,385,494 2,000,000 2,103,855 214,489,349 2,000,000 2,000,000
2028 2029 2030 214,489,349 2,000,000 2,144,893 218,634,242 2,000,000 2,000,000
2029 2030 2031 218,634,242 2,000,000 2,186,342 222,820,584 2,000,000 2,000,000
2030 2031 2032 222,820,584 2,000,000 2,228,206 227,048,790 2,000,000 2,000,000
2031 2032 2033 227,048,790 2,000,000 2,270,488 231,319,278 2,000,000 2,000,000
2032 2033 2034 231,319,278 2,000,000 2,313,193 235,632,471 2,000,000 2,000,000
2033 2034 2035 235,632,471 2,000,000 2,356,325 239,988,796 2,000,000 2,000,000
2034 2035 2036 239,988,796 - 2,399,888 242,388,684 - -
2035 2036 2037 242,388,684 - 2,423,887 244,812,571 - -
2036 2037 2038 244,812,571 - 2,448,126 247,260,697 - -
2037 2038 2039 247,260,697 - 2,472,607 249,733,304 - -
2038 2039 2040 249,733,304 - 2,497,333 252,230,637 - -
2039 2040 2041 252,230,637 - 2,522,306 254,752,943 - -
125,000,000 43,729,714 10,536,000 1,304,000 36,000,000 Total
1 New Construction for the period of 2021-2040 is based largely on conservative projections
of development for the area
2 Inflation reflects estimated net property value increases based on 90% of the
past inflation in the construction cost index.
3 New development will be required to be annexed into a city limits in order to receive
water and sewer services; therefore, the city levy should be the one used in the projection of revenue.
Attachment 5A
Estimated Net Taxable Value of New Private Development (Commercial/Residential)
Rexburg North Interchange Urban Renewal Project
Attachment 5B
Estimated Annual Revenue Allocations
Construction
Year
Tax Year
Assessed
Fiscal Year
Taxes
Received
Estimated
Valuation Tax Levy Rate
Agency
Revenue
2020 2021 2022 31,266,286 0.009000000 281,397
2021 2022 2023 77,480,663 0.009000000 697,326
2022 2023 2024 124,157,184 0.009000000 1,117,415
2023 2024 2025 155,398,756 0.009000000 1,398,589
2024 2025 2026 186,952,744 0.009000000 1,682,575
2025 2026 2027 206,322,271 0.009000000 1,856,900
2026 2027 2028 210,385,494 0.009000000 1,893,469
2027 2028 2029 214,489,349 0.009000000 1,930,404
2028 2029 2030 218,634,242 0.009000000 1,967,708
2029 2030 2031 222,820,584 0.009000000 2,005,385
2030 2031 2032 227,048,790 0.009000000 2,043,439
2031 2032 2033 231,319,278 0.009000000 2,081,874
2032 2033 2034 235,632,471 0.009000000 2,120,692
2033 2034 2035 239,988,796 0.009000000 2,159,899
2034 2035 2036 242,388,684 0.009000000 2,181,498
2035 2036 2037 244,812,571 0.009000000 2,203,313
2036 2037 2038 247,260,697 0.009000000 2,225,346
2037 2038 2039 249,733,304 0.009000000 2,247,600
2038 2039 2040 252,230,637 0.009000000 2,270,076
2039 2040 2041 254,752,943 0.009000000 2,292,776
Total 36,657,681
Notes:
1 Estimated valuation is from Attachment 5A.
2 The tax levy rates are estimated to generally increase 0.0% per year. (See Levies)
Attachment 5B
Estimated Annual Revenue Allocations
Rexburg North Interchange Urban Renewal Project
January 0, 1900
Attachment 5C
Estimated Annual Revenues and Costs
Fiscal Year>2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 Totals
Beginning Balance 10 4 (81) 610 361 74 967 522 505 192 253 1,169 745 2,824 1,358 155 2,333 1,173 1,155 1,608 1,075
Sources of Funds:
Revenue Allocation Estimate 281 697 1,117 1,399 1,683 1,857 1,893 1,930 1,968 2,005 2,043 2,082 2,121 2,160 2,181 2,203 2,225 2,248 2,270 2,293 36,656
Sale of Property -
Clawback from Developers -
State Highway Dept. Contribution -
City Water Utility Reimbursement -
City Sewer Utility Reimbursement -
Transfer from/to Univserity District Fund 800 (800) -
Transfer from/to Administration Fund 40 (40) -
Borrowing -
Total Sources of Funds 40 - 1,041 697 317 1,399 1,683 1,857 1,893 1,930 1,968 2,005 2,043 2,082 2,121 2,160 2,181 2,203 2,225 2,248 2,270 2,293 36,656
Total Funds Available 40 10 1,045 616 927 1,760 1,757 2,824 2,415 2,435 2,160 2,258 3,212 2,827 4,945 3,518 2,336 4,536 3,398 3,403 3,878 3,368 36,656
Admin./Prof. Services 30 5 5 5 5 5 5 5 5 3 3 3 3 3 3 3 3 3 3 3 3 10 116
Bond Reserve & Capitalized Interest -
Bond Costs -
Bond Payments -
Reconfigure 7th North & 2nd East /Yellowstone
intersections ($4M project) 1,000 1,000
5th West Extension ROW purchase ($8M project) 500 500
Yellowstone Sewer Line over-sizing (Rexburg to
Sugar City -$4M project) 1,500 500 2,000
Purchase Ambulance/Sheriff Capital Improvements 200 200 200 200 200 1,000
East Parkway Corridor -7th N to Moody Rd -ROW
Acquisition - -
Teton River Pedestrian Bridge Barney 1 150 150
Canal Vehicle Bridge Barney 2 150 150
Barney Dairy Park/Johnson Preserve Along Teton
River ($2M project) 750 750
Teton River Sewer Line Extention 1,000 1,000
East Parkway Corridor -Barney Dairy to 2nd South
ROW Purchase 1,500 1,500 East Parkway Corridor -Barney Dairy to 7th N
Construction -($6M project) 500 1,500 2,000
2nd East Bridge reconfiguration to 7 lanes 1,000 1,000
Pedestrian Bridges across Teton River on 2nd East 500 500
Teton River Pedestrian Bridges Eagle Park 150 150
Teton River Trail (3.26 Miles within district) 820 820
Odell Property Purchase, add constuction of
roadway and signals 1,500 1,500
Barney Dairy to 2nd E reconfiguration ($3M project) 500 500
Purchase Fair Grounds from County or properties
around it & upgrade facilities 3,000 3,000 6,000
Moody Road Overpass 3,000 2,000 1,600 6,600
5th West Extension Construction ($8M project) 2,500 1,000 3,500
-
Water & Sewer Oversizing -
Wastewater Liftstations -
Wastewater Lines -
Water Lines -
Total Uses of Funds 30 5 1,005 5 505 1,505 705 2,055 1,705 2,003 1,703 973 2,203 3 3,203 3,003 3 3,003 2,003 1,603 2,503 1,010 30,736
Contingency @10% 10% 1 101 1 51 151 71 206 171 200 170 97 220 - 320 300 - 300 200 160 250 101 3,071
Overhead Charges @2% 2% - 20 - 10 30 14 41 34 40 34 19 44 - 64 60 - 60 40 32 50 20 612
Total Uses of Funds 30 6 1,126 6 566 1,686 790 2,302 1,910 2,243 1,907 1,089 2,467 3 3,587 3,363 3 3,363 2,243 1,795 2,803 1,131 34,419
Ending Balance 10 4 (81) 610 361 74 967 522 505 192 253 1,169 745 2,824 1,358 155 2,333 1,173 1,155 1,608 1,075 2,237 2,237
Attachment 5C
Estimated Annual Revenues and Costs (Figures Shown in 000)
Rexburg North Interchange Urban Renewal Project
January 0, 1900
Uses of Funds:
Attachment 6
Agricultural Operation Consents
CONSENT FORM
JOS E PHINE BIRD, an indi v idual, and states that he/s he owns, as hi s/her sole and
separate property , that c e rtain property generall y desc ribed as Parcel Id e ntificatio n N umber:
RP06N40E187370 and more particularly described on the Mad ison County Parce l R eport
attached hereto and incorporated herein by reference (the "Property"), and hereby certifies:
(1) that the Property h as been u sed, within the last three (3) years, as an
agricultural operation ; and
(2) that the undersig ned has re v iewed the urban re ne wa l eligibil ity report,
date d July 3 , 2020, entitled The North Centra~ Area U rban Re newal Eligibi li ty Report, and as
attached hereto.
Further, the unders igned here by prov ides his/her consent and approva l that the subject
Property may be included w ithin th e proposed urban renewal area.
Further, it is understood that thi s consent will NOT CHANGE the amount of taxes
on this property nor will it affect the owner's ability to do whatever they want with the
property. It DOES make it possible for the Rexburg Urban Renewal Agency to add or
improve roads in their area within the existing City or County owned right-of-way.
DA TED t l1i ~ day of
CONSENT FORM
FARRELL DAVIDSON, an individual, and states that he/she owns, as his/her sole and
separate property, that certain prope1ty generally described as Parcel Identification Number:
RP06N40E 179001 and more particularly described on the Madison County Parcel Rep01t
attached hereto and incorporated herein by reference (the "Property"), and hereby ce1tifies:
(1) that the Property has been used, within the last three (3) years, as an
agricultural operation; and
(2) that the undersigned has reviewed the urban renewal eligibility report,
dated July 3, 2020, entitled The Notth Central Area Urban Rene\>.'.al Eligibility Repott, and as
attached hereto.
Further, the undersigned hereby provides his/her consent and approval that the subject
Prope1ty may be included within the proposed urban renewal area.
Further, it is understood that this consent will NOT CHANGE the amount of taxes
on this property nor will it affect the owner's ability to do whatever they want with the
property. It DOES make it possible for the Rexburg Urban Renewal Agency to add or
improve roads in their area within the existing City or County owned right-of-way.
DATED this J.2_ day of Ail 9 us r , 2020.
!] ~ r~).I/Qa4,~
CONSENT FORM
H{).f'Vey Ber--r .:Jvt-mft7erjManager ofDS&S INC, states that DS&S INC owns that
certain property generally described as Parcel Identification Number: RPRXBCA0207202, and
more particularly described on the Madison County Parcel Report attached hereto and
incorporated herein by reference (the "Property"), and hereby ce11ifies:
(1) that the Property has been used, within the last three (3) years, as an
agricultural operation; and
(2) that the undersigned has reviewed the urban renewal eligibiliiy report,
da ted July 3, 2020, entitled The N011h Central Area Urban Renewal Eligibility Report, and as
attached hereto.
Further, that the undersigned, as Manager of said entity, hereby provides his/her consent
and approval that the subject Property may be included within the proposed urban renewal area.
Further, it is understood that this consent will NOT CHANGE the amount of taxes
on this property nor will it affect the owner's ability to do whatever they want with the
property. It DOES make it possible for the Rexburg Urban Renewal Agency to add or
improve roads in their area within the existing City or County owned right-of-way.
DATED this ~ day of .:J (}.-(j , 2020. -~-/+-----
CONSENT FORM
~ ~~1 ,l , Manager of EDGE HOLDINGS LLC, states that EDGE
HOLDINGS LLC owns that certain property generally described as Parcel Identification
Number: RPRXBCA0291851 , and more particularly described on the Madison County Parcel
Report attached hereto and incorporated herein by reference (the "Property"), and hereby
certifies :
(1) that the Property has been used , within the last three (3) years, as an
agricultural operation; and
(2) that the undersigned has reviewed the urban renewal eligibility report,
dated July 3, 2020, entitled The North Central Area Urban Renewal Eligibility Report, and as
attached hereto.
Further, that the undersigned, as Manager of said entity , hereby provides his/her consent
and approval that the subject Property may be included within the proposed urban renewal area.
Further, it is understood that this consent will NOT CHANGE the amount of taxes
on this property nor will it affect the owner's ability to do whatever they want with the
property. It DOES make it possible for the Rexburg Urban Renewal Agency to add or
improve roads in their area within the existing City or County owned right-of-way.
DATED this __ day of ________ , 2020.
CONSENT FORM
\/ tt.} D"'C\o... GrCjJ:e--i , Manager of GROVER DEAN R FAMILY BYPASS
r .
TRUST, states that GROVER DEAN R FAMILY BYPASS TRUST owns that certain prope1ty
generally described as Parcel Identification Number: RPR4GVR0000010, and more particularly
described on the Madison County Parcel Report attached hereto and incorporated herein by
reference (the "Property"), and hereby certifies:
(1) that the Property has been used, within the last three (3) years, as an
agricultural operation; and
(2) that the undersigned has reviewed the urban renewal eligibility repo1t,
dated July 3, 2020, entitled The North Central Area Urban Renewal Eligibility Report, and as
attached hereto.
Further, that the undersigned, as Manager of said entity, hereby provides his/her consent
and approval that the subject Prope1ty may be included within the proposed urban renewal area.
Further, it is understood that this consent will NOT CHANGE the amount of taxes
on this property nor wiil it affect the owner's ability to do whatever they want with the
property. It DOES make it possible for the Rexburg Urban Renewal Agency to add or
improve roads in their area within the existing City or County owned right-of-way.
DATEDthis_j.-J day of .:3oJ '2r ,2020.
k /e~
CONSENT FORM
DALES JEPPESEN, an individual, and states that he/she owns, as his/her sole and
separate property, that certain property generally described as Parcel Identification Number:
RP06N40El 78950 and m6re particularly described on the Madison County Parcel Repo1t
attached hereto and incorporated herein by reference (the "Property''), and hereby certifies:
(1) that the Property has been used, within the last three (3) years, as an
agricultural operation; and
(2) that the undersigned has reviewed the urban renewal eligibility report,
dated July 3, 2020, entitled The North Central Area Urban Renewal Eligibility Report, and as
attached hereto.
Further, the undersigned hereby provides his/her consent and approval that the subject
Property may be included within the proposed urban renewal area.
Further, it is understood that this consent will NOT CHANGE the amount of taxes
on this property nor will it liffect the owner's ability to do whatever they want with the
property. It DOES make it possible for the Rexburg Urban Renewal Agency to add or
improve roads in their area within the existing City or County owned right-of-way.
CONSENT FORM
RAY PETERSON, Manager of R & S PETERSON COMMERCIAL PROPERTIES
LLC, states that R & S PETERSON COMMERCIAL PROPERTIES LLC owns that certain
property generally described as Parcel Identification Number: RPRXBCAOI 76677, and more
particularly described on the Madison County Parcel Report attached hereto and incorporated
herein by reference (the "Property"), and hereby certifies:
(1) that the Property has been used, within the last three (3) years, as an
agricultural operation.; und
(2) that the undersigned has reviewed the urban renewal eligibility report,
dated July 3 , 2020, entitled The North Central Area :Urban Renewal Eligibility Report, and as
attached hereto. ·
Further, that th e undersigned, as Manager of said entity, hereby provides his/her consent
and approval that the subject Property may be included within the proposed urban renewal area.
Further, it is understood that this consent will NOT CHANGE the amount of taxes
on this property nor will it affect the owner's ability to do whatever they want with the
property. It DOES make it possible for the Rexburg Urban Renewal Agency to add or
improve roads in their area within the existing City or County owned right-of-way.
-f DA TED this ;;2. 1 day of , 2020.
r-l ' 1 CONSENT FORM
Br-I.((!~ "';)fl ,r te,, c" -1.1, Ti -'-
ov,, I T,-.1.(S'te~s M Cl.I"~ ~, :tr-re-tr~<!.4-IJ ~ . ('1,1.r T
~ /,f, MACK SHIRLEY Execttter of~P.1\~SH_IRLEY k l~:fE, st~tes that
(..<.mc.,..,..l~o~=-SH1R:eE¥-bl-F-E-E8'~f-A-TE own/ that certam property generally descnbed as
"tfl Parcel Identification Number: RP06N40E076031, and more particularly described on the
Madison County Parcel Report attached hereto and incorporated herein by reference (the
"Property"), and hereby certifies:
(1) that the Property has been used, within the last three (3) years, as an
agricultural operation; and
(2) that the undersigned has reviewed the urban renewal eligibility report,
dated July 3, 2020, entitled The North Central Area Urban Renewal Eligibility Report, and as
attached hereto.
Further, that the undersigned, as Manager of said entity, hereby provides his/her consent
and approval that the subject Property may be included within the proposed urban renewal area.
Further, it is understood that this consent will NOT CHANGE the amount of taxes
on this property nor will it affect the owner's ability to do whatever they want with the
property. It DOES make it possible for the Rexburg Urban Renewal Agency to add or
improve roads in their area within the existing City or County owned right-of-way.
, 2020.
S '1 YJ e j tA,,; !11 ;k_ s-1, /:, l i: I / ui(· 'r/t«:I r e ti r-I ~1-t& ~ ; ' ;,)
(;7( 'J/1,<..... <!.w··('ertf 11 r /At...:... 5h/r h'' fr "/f»t-f7 t,07 /( 7 /i 1! /1 ct..~
f;o 1.,1 ffr /J Jtotd, ( tt,,J,1'_ /vtC'je (.11..f,,Lr &f µ.(jp) d-<!.t:.,<!.55 /D
, 1' , f*" . JJl· /'1111 ti• #J'v..-l lUc.. r,{),;t1 1>t>d ~ fl-d, /c 'r:J ft1,:; , S<2e a.f. /J1tr,-l<e,/
ht aila eh.el. >?<,.Y .
ll I 6 {J sf; f u fa I e i1 74 t£. f-4J 1
!) 'l.-~?t--/ tr s·>' I' R ,-1 / e i s
e''J(/5 f 1 »; f --l ~{.,/1 c~ eo 1"'ne,~i/1·e 0 tl5'<?k 7? .fJ,,-.
.ft1h,tre. l(,!le Tlfol t!)t,1"7((/" t,vi/1 /"'~(U.,v-e., re.1 ;;61-1r~-,~
I
{1{) I' ~71 /;r e at I' e41e 7/ta;: b ,t:.e R?//t';, ?/>/ .l(:fe,,t1~.f,e.e,,![_i(.7e'
~f b71e r pa 5S /11 lr?1§1~,
I
I
/
I Mack I
7fw (2';(/St ,n'j Curu-el r ~(J,d. ·ru(I, f '
<21m ?7 e !!I;; / tP e ,, ;,1,1. t1J w, 1 '{ m Al, rntwl
be. pre<;e.f'1.>e.d. wj(!,1Jnne c f1?1f .qaOe.$·
rt} /}ve, f'/A~$ $l> tt~ /i:, }?ft/µe, f>t11'e.-
re6;de-tif.f;, hi Bra t.e S/Jir le7r f/Jt)~
a.re. J'!() t /curd I ~ c./J-e c£ lh1d µ r~e J.
tP 30 n~l't'h 1.,,1 t.1rcter -k A(ce,{ /2f,,tbt17 -·
-
1
CONSENT FORM
MACK G S I II RL EY, an indivi dual, and states that be/she owns, as his/her sole and
separate property, dw certain propeny generally descci bcd ti Par«l ld cntifieation Number:
RP06N40El8S413 and morc pe,1icularly dcsaibed on the Madison County Pan:d Report
attached hcrcio and incorp<>raled hctcin by reference (the "Propenyj. and hereby certifies:
(I ) that the Propcny has been used, within the last three (3) years, ns an
agricultural opern tion; and
(2) that the undersigned bas reviewed the url>an renewal eligibility report.
dlltcd July 3, 2020 . entitled The Nonb Ccntial Area Urban Renewal Eligibility Repon. and as
atta ched hereto.
further, the u.oders ig,,ed hereby provides his/her consent and approval that the subject
Property may be included within the proposed urban renewal area.
F11rther, it iJ understood that tbi., consent will NOT CHANGE th< a mount o r tans
on eh l, property nor will it affect lhe owner'& ability to do whatever they want with the
property. It DOES make it possible for the Rexburg Urban Renewal Agency to 11dd o r
lillprne ro1 dJ in lheir are,, ,.ilhin the existing Ci1y or CoWIIY owned righ t-of-way.
Attachment 7
Madison County Board of County Commissioners Resolution No. 447 (eligibility)
RESOLUTION NO. 447 - 4
EXHIBIT A
The North Central Area Urban Renewal Eligibility Report, dated July 3, 2020
The North Central Area Eligibility Report Page 1
BACKGROUND
THE NORTH CENTRAL AREA URBAN RENEW AL ELIGIBILITY REPORT Preparation of this report was authorized by the Rexburg Urban Renewal Agency ("Agency") in July 2020. This report will provide the technical support for the first step in planning urban renewal projects. That first step is a policy decision by the Mayor and City Council to designate a specific area as deteriorated or deteriorating and to authorize an urban renewal project for this area. The proposed urban renewal area includes necessary properties and roadway along the proposed extension of North 5th West from the Madison County Fairgrounds to West Moody Road, including properties necessary to construct an overpass on West Moody Road over State Highway 20. The proposed area also includes properties and roadway along North 2nd East and the North Yellowstone Highway from East 1 st North to East Moran View Road. The proposed area also includes properties and roadway along East 7th North and Barney Dairy Road. It also includes undeveloped properties between East 7th North and Barney Dairy Road and East 2ndNorth. Lastly, the area also includes necessary properties along the proposed extension of East Parkway from about 6th South to East Moody Road. The geographic area under review is referred to as the ''North Central area" or the "Study Area." A significant portion of the Study Area is currently located within unincorporated Madison County. Please see the attached map for a clearer understanding of the Study Area boundaries, which includes the City boundary line to assist with identification of the parcels located within unincorporated Madison County. Idaho Code Section 50-2008(a) states: An urban renewal project for an urban renewal area shall not be planned or initiated unless the local governing body has, by resolution, determined such area to be a deteriorated area or a deteriorating area or a combination thereof and designated such area as appropriate for an urban renewal project.
The North Central Area Eligibility Report Page2
REXBURG NORTH CENTRAL AREA
A.10% AnalysisThe Agency Board has asked that a study be completed to determine compliance with the statutory requirements regarding assessed value limitations before recommending to the Rexburg City Council that a new urban renewal area be created. The assessed value limitation statutory requirement found in the definition of "revenue allocation area" in Idaho Code Section 50-2903( 15) mandates that the base assessment roll values of all revenue allocation areas within the City (including this proposed new revenue allocation area) cannot exceed 10% of the current assessed valuation of all taxable property within the City. While a significant portion of the Study Area is within unincorporated Madison County, to be conservative, and for purposes of this calculation, the estimated base assessment roll of the Study Area is compared to the assessed taxable value of the City (as opposed to a comparison with the assessed taxable value of Madison County). County records show that the 2019 1 adjusted base assessment roll values for Rexburg's four existing revenue allocation areas minus homeowner's exemptions are as follows: North Highway Downtown Rexburg University Boulevard North Interchange Total $6,646, 7222$33,297,201 $8,190,994 $4,145,769 $52,280,686 The City ofRexburg's net taxable value minus the homeowner's exemption and personal property exemption for 2019 is $1,258,690,595. Ten percent of that value is $125,869,059 which marks the limit for 2019. The 2019 assessed values for the Study Area are $27,798,027.
1 Due to the timing of the assessment process and creation of this Report, the 2019 values have been used to establish compliance with the I 0% limitation. Even assuming an increase in values for 2020, the combined adjusted base values of the revenue allocation areas would not exceed 10% of the current assessed taxable value for the entire City.
2 The base assessment roll includes the value of parcels recently deannexed pursuant to Rexburg City Council Ordinance No. 1230, dated June 17, 2020, adopting the First Amendment to the Second Amended and Restated Urban Renewal Plan, North Highway Urban Renewal Project, Including South Addition. The deannexation is effective retroactive to January I, 2020. The North Central Area Eligibility Report Page 3
Therefore, the total adjusted base assessment roll values for all existing revenue allocation areas including this proposed North Central area are $80,078,713, which is $45,790,346 below the 2019 maximum limit of$125,869,059. B.Steps in Consideration of an Urban Renewal DistrictStep One in planning new renewal projects is a review of the conditions within the Study Area to determine whether the area is eligible under the Idaho Urban Renewal Law of 1965, Chapter 20, Title 50, Idaho Code, as amended (the "Law"), and the Local Economic Development Act, Chapter 29, Title 50, Idaho Code, as amended (the "Act"). The Law and the Act set forth criteria in the definitions of a "deteriorating area" and/or a "deteriorated area," at least one of which must be found, for an area to be considered eligible for urban renewal activities. The attached definitions of deteriorating area, deteriorated area, and urban renewal
project are very pertinent to this step and are the focus of this report. If this report finds one or more of the conditions present within the Study Area, then the Rexburg Urban Renewal Agency may accept the report and forward it to the City Council for its consideration. If the City Council adopts the report and makes the necessary findings by resolution, it may direct the Rexburg Urban Renewal Agency to prepare an urban renewal plan for the Study Area. As a portion of the Study Area is within unincorporated Madison County, compliance with Idaho Code Section 50-2018(18)3 is necessary, and the Madison County Board of County Commissioners is required to adopt a resolution declaring a need for an urban renewal project.
3 Idaho Code Section 50-2018( 18) defines "area of operation" to mean "the area within the corporate limits of the
municipality and the area within five (5) miles of such limits, except that it shall not include any area which lies
within the territorial boundaries of another incorporated city or town or within the unincorporated area of the county
unless a resolution shall have been adopted by the governing body of such other city, town or county declaring a
need therefor."
The North Central Area Eligibility Report Page4
The North Central Area Eligibility Report Page 5
Pursuant to the Law and the Act, a "Deteriorated area" does not mean not developed beyond agricultural, or any agricultural operation as defined in section 22-4502(2), Idaho Code, unless the owner of the agricultural operation gives written consent to be included in the deteriorated area, except for an agricultural operation that has not been used for three (3) consecutive years. A significant portion of the Study Area likely falls within the definition of an agricultural operation requiring property owner consent to be included in the urban renewal project area. Efforts to identify parcels requiring consent is underway; however, such consents have not been obtained. Compliance with this requirement will need to be determined by Agency and City staff before the City Council certifies the area as deteriorating. A substantial portion of the area is predominately open land, so the area must qualify under a specific portion of Idaho Code Section 50-2018(9) and a different statutory provision, Idaho Code Section 50-2903(8)( c ), which reads as follows: Any area which is predominately open and which because of obsolete platting, diversity of ownership, deterioration of structures or improvements, or otherwise, results in economic underdevelopment of the area or substantially impairs or arrests the sound growth of a municipality. The provisions of section 50-2008( d), Idaho Code, shall apply to open areas. Finally, the report will discuss why the area is appropriate for an urban renewal project. A.Present ConditionsThe attached definition of deteriorating area and deteriorated area [Idaho Code §§ 50-2018(9) and 50-2903(8)(b)] lists ten different conditions that may be present in such anarea, with the tenth being the catch-all "any combination of such factors." The presence of these conditions was documented through physical observation in 2020, as well as, contacts with various City officials, County officials, and assessor file information. Then the area and its public infrastructure was evaluated, and the numbers that correspond to the applicable characteristics in the definition were placed at the appropriate locations on the attached map.
The North Central Area Eligibility Report Page6
B.Open Land AreaIn addition to the eligibility conditions identified above, the Study Area is also required to satisfy the "open land" conditions. The definition of Section 50-2903(8)(c) cited above lists several of the same characteristics as Sections 50-2018(9) and 50-2903(8)(b) under the same or similar descriptions. "Diversity of ownership" is the same, while "obsolete platting" appears to be equivalent to "faulty lot layout in relation to size, adequacy, accessibility, or usefulness." "Deterioration of structures or improvements" is apparently a combination of "a substantial number of deteriorated or deteriorating structures" and "deterioration of site or other improvements." The final term, "or otherwise," at least implies that a predominately open area shares some of the same characteristics as the previous definition of deteriorated area, Idaho Code Section 50-2903(8)(b ). There is also an additional qualification that "The provisions of Section 50-2008(d), Idaho Code, shall apply to open areas." Section 50-2008( d) lists the findings that the City Council must make in the ordinance approving an urban renewal plan. In addition, this section lists the special findings that the City Council must make "if the urban renewal area consists of an area of open land to be acquired by the urban renewal agency." There is one set of findings if the area of open land is to be developed for residential uses and a separate set of findings if the land is to be developed for nonresidential uses. Basically, such open land areas may be acquired by the Agency and developed for nonresidential uses if such acquisition is needed to solve various problems associated with the land or the public infrastructure that have retarded its development. These problems include defective or usual conditions of title, diversity of ownership, tax delinquency, improper subdivisions, outmoded street patterns, deterioration of site, and faulty lot layout, all of which are included in one form or another in the Section 50-2903(8)(b) definition of deteriorated area. The problems that are listed only in Section 50-2008(d)(4)(2) (the open land section, specifically for non-residential uses) include economic disuse, unsuitable topography, and "the need for the correlation of the area with other areas of a municipality by streets and modem traffic
The North Central Area Eligibility Report Page 7
structures in an area that is largely open land. This characteristic does not apply to the Study Area. (2)Predominance of defective or inadequate street layout. Moody Road,Moran View Road, State Highway 33 (North Yellowstone Highway), North 5 th West, Barney Dairy Road, and North 2nd East are the streets that serve the area now. While there is no internal street system needed to support the current agricultural uses, the transition to support contemplated and/or future land uses will require significant street improvements to safely connect the real property to these existing streets. Also, there is no direct east side connection for traffic to proceed to State Highway 20, which is why planning documents contemplate a proposed new road, the East Parkway. This situation constitutes an inadequate street layout and this characteristic is met. (3)Faulty lot layout in relation to size, adequacy, accessibility, or usefulness.In general, the Study Area includes a number of larger parcels currently transitioning from their traditional agricultural use. To implement the planned development for the Study Area, the parcels will likely require division into developable lots. Further, there is an undeveloped parcel between Highway 33 and the railroad tracks. The size, shape, and location of this parcel makes it difficult to develop; hence a number "3" appears on the map. This characteristic is met. ( 4)Insanitary or unsafe conditions. There are several conditions existingwithin the Study Area where this characteristic applies. Typical insanitary conditions include excessive amounts of junk, trash, and weeds in violation of City or County sanitation codes. Another insanitary condition occurs in areas that lack sanitary sewers or where the sanitary sewer system has insufficient capacity. Basically, most of the east side of the Study Area has no sanitary sewer system. The existing system stops at Barney Dairy Road. Therefore, when the number 4S appears on the map, it indicates problems with the sanitary sewer system, in this case, lack of sewer mains. Although there are sewer lines in some of the existing streets within the Study Area, the large undeveloped parcels lack sewer mains. The number 4S indicates area where more sewer main line access is needed to support anticipated development. This
The North Central Area Eligibility Report Page9
characteristic also applies where significant investment is necessary to support water system improvements to ensure sufficient fire flows, as well as remediation of any drainage issues. There are also unsafe conditions in the Study Area. Most are found with the street system and include lack of sidewalks, curbs, and gutters; narrow, inadequate streets; and lack of any street access, streetlights, and safe intersections. The number "4ST" on the map indicates unsafe conditions with the street system, particularly North 2nd East, West Moran View Road, West Moody Road, State Highway 33, and Moody Road that are all two-lane roads. Proposed new streets include North 5th West, west-bound connections for Barney Dairy Road, and the East Parkway and its connection to East 2nd South. These streets will provide the vehicular access to the expected new businesses in the area. This characteristic is met. (5)Deterioration of site and other improvements. Site improvements includeparking lots, fences, and landscaping areas, basically things other than structures that make up a developed property. The term "other improvements" is the place where public improvements such as streets, sidewalks, curbs, gutters, bridges, storm drains, parks, water mains, sanitary sewers, and public facilities such as swimming pools and public buildings are included. When the number 5 appears on the map in a street right-of-way, it denotes those streets are deteriorated. As noted above, existing structures within the Study Area mainly include the Madison County Fairgrounds on the comer of North 5 th West and West 2nd East. These buildings would not constitute a substantial number of deteriorated or deteriorating structures in an area that is largely open land. Due to the existing site conditions, this characteristic is met. (6)Diversity of ownership. Typically, this characteristic is present when anarea that needs to be redeveloped because of rundown buildings is divided into a number of different ownerships. It could also occur where existing businesses are hindered in expanding because of the number of adjacent property ownerships. Multiple ownerships are more difficult for developers to assemble. While there are 25 different ownerships, most parcels are fairly large and could accommodate a development without having to assemble a large number of parcels. For these reasons, this characteristic is not met.
The North Central Area Eligibility Report Page 10
(7)Tax and special assessment delinquency exceeding the fair value of theland. This characteristic does not apply to the Study Area. (8)Defective and unusual conditions of title. These conditions have not beenfound in the Study Area. (9)The existence of conditions which endanger life or property by fire andother causes. Sufficient water system capacity will be necessary to ensure adequate fire flows to protect the anticipated development in the Study Area. This characteristic is met. (10)Any combination of such factors. This number is placed on all areas wheretwo or more of the other characteristics are present. D.Effects of Present ConditionsNorth Central Area (a)Results in economic underdevelopment of the area. Field review and aerialphotography confirm the current underdeveloped status of the area as compared to the City and County planning documents. This area represents a prime opportunity for expanding commercial and industrial development consistent with the goals of the community. (b)Retards the provision of housing accommodations or constitutes aneconomic or social liability. In its current condition, the parcels within the Study Area are in transition and are producing minimal property taxes. In addition, there is very limited public infrastructure serving the areas. Hence such areas tend to become economic liabilities for the City of Rexburg and Madison County. ( c)And is a menace to the public health, safety, morals, or welfare in itspresent condition or use. The previous discussion has established that the Study Area has had very slow growth and, as a result, has become a modest economic liability. In addition, the nonexistent fire protection facilities create a safety problem in the areas. Accordingly, these conditions represent a menace or threat to the public welfare or prosperity and safety of the community.
The North Central Area Eligibility Report Page 11
RESOLUTION NO. 447 - 5
EXHIBIT B
Rexburg Urban Renewal Agency Resolution No. 2020-03
dated July 9, 2020, Accepting the Eligibility Report
(this Exhibit B does not include its Exhibit A as the Eligibility Report is
attached as Exhibit A to Attachment 7)
4818-8208-9154, v. 1
Attachment 8
Rexburg City Council Resolution No. 2020-12 (eligibility)
(Attachment 8 does not include the exhibits – see Attachment 7
for the Exhibits to the Rexburg City Council Resolution)
Instrument # 432640
REXBURG, MADISON, IDAHO
tnst ument # 432420
REXBUR N, IDAHO
7-17-2020 08:1 : o.of Pages: 34Recorded for: an,e EXibRG
7-23-2020 09:24:29 AM No. of Pages: 34 KIM H. M� Fee: 0.00 � � _Jx-Offlclo Recorder Deputy gTN:� Recorded for : CITY OF REXBURG
KIM H. MUIR Fee: 0.00 � Ex-Offlclo Recorder Deputy __ --==,.,=_.,. __ _
BY THE COUNCIL:
CITY 0� �
REXBURG Cu-Ye� +o Ur-r�ZC:-
AmeriClls Family Community � 7s i '1S � ""-' ric 1---t.l.,.i+c,, lN\tt.tllScr"\I\. �� (u-sol�.J,.-61-t._
Resolution No. 2020-�, � --ND L\L\c.
., .. ,,r A RESOLUTION BY THE REXBURG CITY COUNCIL DETERMINING A CERTAIN AREA WITHIN THE CI1Y OR WITHIN THE CI1Y'S AREA OF OPERATION, TO BE A DETERIORATED AREA OR A DETERIORATING AREA AS DEFINED BY IDAHO CODE SECTIONS 50-2018(9) AND 50-2903(8); DIRECTING THE URBAN RENEWAL AGENCY OF REXBURG TO COMMENCE THE PREPARATION OF AN URBAN RENEWAL PLAN SUBJECT TO CERTAIN CONDITIONS, WHICH PLAN MAY INCLUDE REVENUE ALLOCATION PROVISIONS FOR ALL OR PARTDF THE AREA; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the Council and Mayor of the City of Rexburg, respectively, on or about November 6, 1991, adopted and approved a resolution creating the Urban Renewal Agency of the City of Rexburg, also known as Rexburg Redevelopment Agency (the ��Agency"), authorizing it to transact business and exercise the powers granted by the Idahd"Urban Renewal Law of 1965, Chapter 20, Title 50, Idaho Code, as amended (hereinafter the "Law") and the Local Economic Development Act, Chapter 29, Title 50, Idaho Code, as amended (hereinafter the "Act") upon making the findings of necessity required for creating said Agency; WHEREAS, the City Council, after notice duly published, conducted a public hearing on the North Highway Urban Renewal Project pursuant to the North Highway Urban Renewal Plan (the "North Highway Plan") to redevelop a portion of the City, pursuant to the Law and the Act; WHEREAS, following said public hearing, the City Council adopted its Ordinance No. 728 on December 27, 1991, approving the North Highway Plan and making certain findings; WHEREAS, the City Council, after notice duly published, conducted a public hearing on the North Highway Amended and Restated Urban Renewal Plan (the "North Highway Amended and Restated Plan"); WHEREAS, following said public hearing, the City Council adopted its Ordinance No. 815 on December 30, 1998, approving the North Highway Amended and Restated Plan and making certain fmdings; WHEREAS, the City Council, after notice duly published, conducted a public hearing on the Downtown District Redevelopment Plan (the "Downtown Plan");
I !Resolution 2020-12
Attachment 9
Madison County Board of County Commissioners Ordinance No. _________
(Intergovernmental Agreement and Transfer of Powers Ordinance)
Attachment 10
Rexburg City Council Resolution No. _______
(Intergovernmental Agreement – Madison County)
4816-0674-2473, v. 5