HomeMy WebLinkAboutWest Highway Renewal Project Plan City_BOCC PresentationPlan Elements
Urban Renewal Plan for theWest Highway Urban Renewal Project Rexburg City Council/Madison County Board of County CommissionersSeptember 2, 2026
Project Area
Plan Approval Process – to date
October 15, 2025– Agency Board adopted Resolution No. 2025-03 accepting The West Highway District Eligibility Report prepared by Perspective Planning & Consulting, LLC, and, thereafter,
submitted the Report to the City Council
October 27, 2025 – County BOCC adopted Resolution No. 531 adopting the Agency’s findings concerning the proposed Study Area
November 18, 2025– City Council adopts Resolution No. 2025-12, adopting The West Highway District Eligibility Report and directs Agency to commence preparation of a plan
August 26, 2026 – Draft Urban Renewal Plan for the West Highway Urban Renewal Project
September 16, 2026– Agency Board consideration of a resolution approving the Plan and directing transmittal of the Plan to the Mayor and City Clerk and the BOCC to take the necessary
action to process the Plan
September 23, 2026– Madison County P&Z – consideration of a resolution finding the Plan is in conformity with the County’s Comprehensive Plan.
September 28, 2026– BOCC considers the Plan, the Intergovernmental Agreement (IGA), and the Transfer of Powers (TOP) ordinance
October 1, 2026 – City P&Z meeting –consideration of a resolution finding the Plan is in conformity with the City’s comprehensive plan Fri., Oct. 9 - submit hearing notice to the paper
for publication
October 16, 2026 - 1st publication of the public hearing notice and overlapping taxing district receipt of the Plan, notice, Agency resolution
October 30, 2026– 2nd publication of the public hearing notice
November 18, 2026– City Council public hearing, ordinance readings and consideration
Proposed Next Steps…
Taxing Districts
Taxing Districts
Plan Elements
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;
Section 502.3
(2) A statement listing the kind, number, and location of all proposed public works or improvements within the revenue allocation area;
Section 301 and Attachment 5
(3) An economic feasibility study;
Attachments 5
(4) A detailed list of estimated project costs;
Attachment 5
(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;
Section 502.8 and Attachment 5
(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;
Sections 303, 304, 309, 501, 502, 503, 504 and Attachment 5
(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 year following the last year of the revenue allocation provision described in the urban renewal plan; and
Section 800
(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.
Section 800 – no impact on the disposition of assets
Downtown Rexburg $32,941,731.00
University Boulevard $8,073,270.00
North Interchange $3,934,165.00
North Central $36,688,091.00
Proposed West Highway $33,384,430.00
TOTAL $115,021,687.00
10% Limitation
To determine if planned development will generate sufficient revenues to finance proposed public infrastructure improvements
Economic Feasibility Study
Findings
The tax increment revenues to be generated by the development within the Revenue Allocation Area will be sufficient to help fund the costs of the priority public infrastructure improvements
Multiple scenarios reviewed
Projected Revenues Assumptions - Comment
I.C. 50-2908
Legislative Impact (HB 436) (EMS/Fire Districts):
Due to House Bill 436, Ambulance/Fire Districts have to consent to be included in a new RAA. To be conservative, the Ambulance/Fire district levy rates are not included in the net levy
rate used in the economic feasibility study.
Estimated to generate between $43.5-68.5M in revenue allocation proceeds over 20 years.
10,12,15, and 20-year buildout scenarios
Assumptions:
Total valuation is assumed to increase 7% per year.
Applicable tax levy is assumed to decrease 5% per year.
Base value remains unchanged
Revenues in the Estimated Revenue column are received in the year following the calendar year identified in the Year column
Project area will be approved by the end of 2026
Revenue Projection
Priority and Additional Public Infrastructure Projects and Costs
West Highway Project will generate sufficient revenue to fund the priority projects and many or all of the additional potential public projects.
Cash Flow
Ag Consents Required
Map/legal finalization
County parcels included
Additional Plan Requirements
Limitations on Amendments to the Plan – I.C. 50-2903A
Base reset
Exceptions
Post-July 1, 2016, Plan and RAA
Next Steps
September 16–Agency Consideration of a Resolution to approve the Urban Renewal Plan for the West Highway Urban Renewal Project
</ </Questions/Comments?
840 acres with a mix of land uses. The Project Area is generally bounded by 1000 South on the southern end, US Highway 20 on the east, 3000 West on the western side, and 2000 North
on the northern boundary.
The current land uses within the Project Area
Include mixed-use, residential, public, and commercial.
Ambulance/Fire – 50-2906(4) - Due to change in statute, the Ambulance District has to consent by resolution to be included in the RAA.
For purposes of this Plan, it is assumed the Ambulance District will not consent to be included.
For School District- only revenue generating revenue for the agency would be a tort levy (if any).
Ambulance/Fire – 50-2906(4) - Due to change in statute, the Ambulance/Fire District has to consent by resolution to be included in the RAA.
For purposes of this Plan, it is assumed the Ambulance/Fire District will not consent to be included.
For School District- only revenue generating revenue for the agency would be a tort levy (if any).
Taxable Value of the City: $
$2,730,223,521
10% $273,022,352
Using 2025 values
4.2$