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4917-4782-7408 v.1 West Highway Plan w Attachments
URBAN RENEWAL PLAN FOR THE WEST HIGHWAY 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 _________ i TABLE OF CONTENTS Page 100 INTRODUCTION .............................................................................................................. 1 101 General Procedures of the Agency ......................................................................... 5 102 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 ........................................................... 7 104 Purpose of Activities ............................................................................................... 8 105 Open Land Criteria ............................................................................................... 10 200 DESCRIPTION OF PROJECT AREA ............................................................................. 12 300 PROPOSED REDEVELOPMENT ACTIONS ................................................................ 12 301 General .................................................................................................................. 12 302 Urban Renewal Plan Objectives ........................................................................... 15 303 Participation Opportunities and Agreement.......................................................... 16 303.1 Participation Agreements .......................................................................... 16 304 Cooperation with Public Bodies ........................................................................... 18 305 Property Acquisition ............................................................................................. 19 305.1 Real Property ............................................................................................ 19 305.2 Personal Property ...................................................................................... 20 306 Property Management .......................................................................................... 21 307 Relocation of Persons (Including Individuals and Families), Business Concerns, and Others Displaced by the Project ..................................................................... 21 308 Demolition, Clearance and Site Preparation ......................................................... 21 309 Property Disposition and Development ................................................................ 22 309.1 Disposition by the Agency ........................................................................ 22 309.2 Disposition and Development Agreements .............................................. 22 309.3 Development by the Agency ..................................................................... 24 310 Development Plans ............................................................................................... 24 311 Participation with Others ...................................................................................... 24 312 Conforming Owners.............................................................................................. 25 400 USES PERMITTED IN THE PROJECT AREA.............................................................. 25 401 Designated Land Uses........................................................................................... 25 402 [Reserved] ............................................................................................................. 25 403 Public Rights-of-Way ........................................................................................... 25 404 Interim Uses .......................................................................................................... 26 405 Development in the Project Area Subject to the Plan ........................................... 26 406 Construction Shall Comply with Applicable Federal, State, and Local Laws and Ordinances and Agency Development Standards ................................................. 26 407 [Reserved] ............................................................................................................. 27 408 Nonconforming Uses ............................................................................................ 27 409 Design Guidelines for Development under a Disposition and Development Agreement or Owner Participation Agreement .................................................... 27 500 METHODS OF FINANCING THE PROJECT ............................................................... 28 501 General Description of the Proposed Financing Method ...................................... 28 ii 502 Revenue Allocation Financing Provisions ............................................................ 28 502.1 Economic Feasibility Study ...................................................................... 30 502.2 Assumptions and Conditions/Economic Feasibility Statement ................ 30 502.3 Ten Percent Limitation ............................................................................. 32 502.4 Financial Limitation .................................................................................. 33 502.5 [Reserved] ................................................................................................ 35 502.6 Participation with Local Improvement Districts and/or Business Improvement Districts .............................................................................. 35 502.7 Issuance of Debt and Debt Limitation ...................................................... 35 502.8 Impact on Other Taxing Districts and Levy Rate ..................................... 35 503 Phasing and Other Fund Sources .......................................................................... 38 504 Lease Revenue and Bonds .................................................................................... 38 505 Membership Dues and Support of Community Economic Development ............ 39 600 ACTIONS BY THE CITY AND COUNTY .................................................................... 39 601 Maintenance of Public Improvements .................................................................. 40 700 ENFORCEMENT ............................................................................................................. 41 800 DURATION OF THIS PLAN, TERMINATION, AND ASSET REVIEW .................... 41 900 PROCEDURE FOR AMENDMENT OR MODIFICATION .......................................... 42 1000 SEVERABILITY .............................................................................................................. 43 1100 ANNUAL REPORT AND OTHER REPORTING REQUIREMENTS .......................... 43 1200 APPENDICES, ATTACHMENTS, EXHIBITS, TABLES ............................................. 43 iii 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 Economic Feasibility Study Attachment 6 Agricultural Operation Consents Attachment 7 Madison County Board of County Commissioners Resolution No. 531 (eligibility) Attachment 8 Rexburg City Council Resolution No. 2025-12 (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) 1 100 INTRODUCTION This is the Urban Renewal Plan (the “Plan”) for the West Highway 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 West Highway Project Area is also referred to as the “Project Area” or the “Revenue Allocation 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 2 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 with the City and adopted a transfer of powers ordinance (Attachment 9 and 10). The proposed development of the Project Area as described in this Plan conforms to The City of Rexburg 2023 Comprehensive Plan, Plan Rexburg: How We Live and Grow (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, including development within the area of city impact. For applicable portions of the Project Area, the City’s Comprehensive Plan and zoning ordinances will guide development as addressed in the intergovernmental agreement between the City and County. To the extent the Project Area includes unincorporated area outside of the area of city impact, redevelopment will conform with the Madison County “2024” Comprehensive Plan, as may be amended (the “County’s Comprehensive Plan”). 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 then 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 the specific location and 3 prioritization of projects. Any 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), (2), (5), (6), (7) and (8). Attachment 5, together with the Plan narrative, meets 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. General Plan Objectives 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, and remove significant impediments to development and/or redevelopment, which, in turn, establish the necessary infrastructure to support adjacent private investment, which in this case includes, a mix of uses, including public, commercial and residential facilities. The purpose of the Law and Act will be attained through the implementation of the Plan. The major goals of this Plan are: a. The planning, design, construction and/or reconstruction of public improvements, including installation and construction of rights-of-way within and throughout the Project Area, including streetscape enhancements, such as, curbs, gutters, and sidewalks, signage and wayfinding, and lighting improvements; reconstruction and/or widening of rights-of-way and intersection improvements to 12th West and Highway 33, as well as 12th West and 7th South, including streetscape enhancements, such as curbs, gutters and sidewalks; installation of pedestrian and bicycle lanes, trails and/or pathways; removal, burying, or relocation of power poles and overhead utilities; relocation of sewer or water facilities; extension of electrical distribution lines and transformers; improvement to, piping over and/or relocation of irrigation canals and drainage ditches and laterals; b. The acquisition of right-of-way, planning, design and construction of proposed improvements to reconfigure the intersection at 12th Street and Highway 33; improvements to the 12th West and 7th South intersection; widening of 12th West 4 and Bridge Street, as well as improvements to other existing roadways and intersections, including signalization, within the Project Area; c. The planning, design, construction and/or reconstruction of water and sewer system improvements, including installation and construction of new infrastructure and/or enhancements to existing infrastructure, within and throughout the Project Area, as well as outside of the Project Area, to establish an internal utility network to support desired development and to enhance and support continuity of service; the planning, design and construction of two lift stations; and planning, design, construction and/or reconstruction of other utility system improvements, including installation and construction of new infrastructure and/or enhancements to existing infrastructure, within and throughout the Project Area. d. 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; e. The strengthening of the economic base of the Project Area and the community by the installation of needed public improvements and/or the removal of impediments to development to stimulate new private development providing for housing, commercial facilities, public amenities and increased employment opportunities and economic growth; f. The provision of adequate land for open space, street rights-of-way and pedestrian rights-of-way, including construction or improvements to multi-modal pathways and trails; and construction and/or improvements to parks, plazas, and other public gathering spaces; g. 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 and traffic impact studies, achieving high standards of development, and leveraging such development to achieve public objectives and efficient use of scarce resources; h. 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; i. The acquisition of real property and/or easements to support development and/or redevelopment initiatives consistent with the Law and Act, including parcel assemblage; 5 j. To engage in public-private partnerships to advance desired public projects and improvements, and to provide matching funds to leverage access to grants; k. 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, Idaho Code; reporting requirements pursuant to Idaho Code §§ 67-450B, 67-1076, 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 consultant, Perspective Planning & Consulting, LLC, was retained to study an approximately 840-acre project area (the “Study Area”) and prepare an eligibility report. The Study Area included parcels located within the City limits as well as parcels located wholly within unincorporated Madison County, including parcels within and outside of the area of city impact. The West Highway District Eligibility Report (the “Report”) was submitted to the Agency. The Agency accepted the Report by Agency Resolution No. 2025-03 on October 15, 2025, and thereafter submitted the Report to the BOCC and the City Council for their consideration. As properties within the Study Area included parcels that were within the City limits as well as outside the boundaries of the City and within unincorporated Madison County, and in accordance with Idaho Code § 50-2018(18), the BOCC considered adoption of a resolution finding the Study Area to be a deteriorated area and/or deteriorating area and finding a need for the urban renewal plan. Representatives of the City and the Agency presented the Report to the BOCC requesting the Commissioners to consider adopting the findings concerning the Study Area. On October 27, 6 2025, the BOCC, pursuant to Resolution No. 531 adopted the Agency’s findings concerning the proposed Study Area. A copy of Resolution No. 531 is attached hereto as Attachment 7 Thereafter, the City Council deemed the Study Area to be a deteriorating area and/or a deteriorated area, and therefore, eligible for an urban renewal project by adoption of Resolution No. 2025-12 on November 18, 2025. With the adoption of Resolution No. 2025-12, the City Council declared the Study Area described in the Report to be a deteriorated area and/or a deteriorating area as defined by Chapters 20 and 29, Title 50, Idaho Code, as amended, that such area is appropriate for an urban renewal project, and directed the Agency to commence preparation of an urban renewal plan. A copy of Resolution No. 2025-12 is attached hereto as Attachment 8. Under the Law and Act, Idaho Code Sections 50-2903(8)(f) and 50-2018(8) and (9), the definition of a deteriorating area shall not apply to any agricultural operation as defined in section 22-4502(2), Idaho Code, absent the consent of the owner of the agricultural operation except for an agricultural operation that has not been used for three (3) consecutive years. The necessary agricultural operation consents (attached hereto as Attachment 6) have been obtained or will be obtained prior to City Council consideration of the Plan. Based on discussions with City staff, non-consenting owners of agricultural operations and others, it was determined the proposed Project Area would be smaller than the Study Area. 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 City1. 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. ______ (Attachments 9 and 10). 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. _____. 1 The parcels located outside the area of city impact were removed. The parcels outside the City limits but within the area of city impact are subject to the City’s development code. 7 103 History and Current Conditions of the Area The Project Area is mostly undeveloped land in an area transitioning from agricultural use and 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. S. 12th West is the main north/south right-of-way through the Project Area and Highway 33 runs east/west connecting this area of the City to the east of Interstate 20. The Project Area includes parcels within the City limits, as well as parcels located within unincorporated Madison County, but within the area of city impact. South of the Project Area is the University Boulevard Project Area, which area includes school facilities and newer commercial development. This increasing activity center has had the effect of driving growth and development north resulting in significant infrastructure needs in the Project Area to support the growing demand. Many roadways in the Project Area lack curb, gutter and sidewalks. Due to the location of schools, commercial centers and residential areas, there is a significant need for improved multi-modal infrastructure to allow safe transportation alternatives and connectivity to other parts of the City. The intersection of Highway 33 and 12th West has seen some commercial growth; however, the intersection is not properly aligned creating connectivity issues and requiring significant investment to correct, including property acquisition for right-of-way widening and signal relocation. Additionally, for a major arterial, Highway 33 has too many access points, which disrupts the flow of traffic and creates safety concerns. The diversity of ownership, particularly adjacent to the intersection of Highway 33 and 12th West, will present challenges to road widening. Widening will also require addressing an open canal running parallel to a portion of 12th West. Based on currently available information, it appears topography and soils are not expected to be a significant impediment to development. Existing water system facilities are projected to be sufficient for future development projects; however, the system will need to be looped to improve fire flow and capacity, and to support growth and development north of the Project Area. Sewer system improvements are necessary to support growth, including a new lift station in the northwest area of the Project Area, which will require a new pressurized sewer line running across the northern boundary of the City golf course. A second lift station will be necessary in the southern portion of the Project Area as well. Many of the existing parcels in the Project Area are large and continue to represent agricultural land-use patterns. These parcels will need to be subdivided to ensure orderly development. In other portions of the Project Area, parcel sizes are of varying sizes and shapes and not conducive to development without parcel assemblage. The Project Area generally includes the properties and roadways necessary to address right-of-way improvements, including alignment and widening, as well as intersection improvements, and to support below ground infrastructure system improvements and enhancements. Many of these improvements are in areas where the costs cannot be absorbed by adjacent developments. 8 The Project Area includes mixed zoning for mixed use, commercial, public, 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 the need to improve the transportation network throughout the Project Area, requiring property acquisition for road widening, intersection improvements, and streetscape improvements to add curb, gutter and sidewalks. Additionally, enhancements to the sewer and water system infrastructure is required to accommodate the intentional and community desired growth in the Project Area as contemplated by the 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 residential development. 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: predominance of defective or inadequate street layout; outmoded street patterns; need for correlation of the area with other areas of the City by streets and modern traffic requirements; faulty lot layout in relation to size, adequacy, accessibility or usefulness; obsolete platting; insanitary or unsafe conditions; diversity of ownership; and the existence of conditions which endanger life or property by fire and other causes. 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 residential and commercial developments would not occur. 104 Purpose of Activities Attachment 5 includes the public improvements and other eligible projects list identifying with specificity the proposed public improvements and projects contemplated in the Project Area. For greater specificity, the estimated project costs are divided between the identified priority public projects estimated to be $27,345,000 and the additional public projects estimated to cost $24,250,000. Combined all proposed public improvements and projects are estimated to 9 cost $51,595,000 over the life of the Project Area. Because of the impact COVID-19 had on property values and recent legislative changes to taxing district budgeting requirements driving levy rates down, the historical data included significant annual shifts to value and levy rate information. It appears values and levy rates have stabilized starting in 2023. Using the actual 7-year average changes to both value and levy rates, with the two highest variations removed, the actual 7-year average valuation growth is 7% and the average decrease in the levy rate is 5%. The Economic Feasibility Study considered four new development buildout scenarios: 10-year, 12-year, 15-year and 20-year. Each scenario assumed that valuation increased 7%/year; the levy rate decreased 5%/year; the issuance of a $6 million dollar bond with a 15-year term and 5% interest rate; and Agency administrative costs in the amount of 10% of revenue allocation proceeds with a cap of $200,000 annually. Depending on the buildout scenario, the Project Area is anticipated to generate approximately $43.5-68.5 million in revenue allocation proceeds. Therefore, under any scenario, the projected revenue allocation proceeds are estimated to exceed the costs of the proposed priority projects over the duration of the Project Area and pay-off the bond. Additionally, there are likely to be sufficient funds to complete some or all of the additional projects identified in Attachment 5. While not specifically considered in analyzing economic feasibility, additional projects are likely to be completed through developer advanced funding of the costs of the proposed eligible public improvements and projects, which eligible projects will be subject to reimbursement pursuant to the terms of a to be negotiated owner participation agreement. The description of activities, public improvements, eligible projects, and the estimated costs of those items are intended to create an 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 prioritize or re-prioritize the Projects described in this Plan and the Plan Attachments, including eligible additional projects shown on the projects list may be substituted for priority projects. 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 is based on information obtained from County assessment information, property owners/developers and City staff, and presents a proposed, realistic development scenario, projected timeline, and location, recognizing it is difficult to project with any certainty where the improvements will be sited until the future project submits plans to the City for design review and permitting. 10 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 agreements with property owners/developers and the City, and/or the Agency’s annual budget setting process. The activities listed in Attachment 5 are not prioritized but are anticipated to be completed as determined by development and available funds. 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. As noted above, the Study (Attachment 5) has described a list of prioritized public improvements and other related activities with an estimated cost of approximately $27,345,000. The Agency has also identified a list of additional public projects, with an estimated cost of $24,250,000. These estimated amounts do 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 range of $43.5-68.5 million in revenue allocation proceeds. The Agency reserves the discretion and flexibility to use revenue allocation proceeds in excess of the amounts predicted 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 in Attachment 5 and this Plan. 105 Open Land Criteria This Plan contemplates Agency acquisition of property within the Project Area, in part, to support parcel assemblage for mixed-use, commercial, office, retail, multi-family and single 11 family residential, hospitality projects, right-of-way acquisition and economic development/demonstration projects. The Project Area is not predominantly open; however, the Project Area includes parcels that are vacant and/or transitioning agricultural operations that could meet the undefined “open land” intent 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 a 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 mixed-density residential, and the future land use map shows areas of projected increased residential density. 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 parcel size, outmoded street patterns, the needed improvements to the water and sewer facilities to support future development; and fragmented streetscapes, including curb, gutter, sidewalks, and storm drainage facilities, are all conditions which delay development in the Project Area. Further, the faulty lot layout in relation to size, adequacy, accessibility or usefulness/obsolete platting; diversity of ownership; and economic disuse 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 Report, prepared by Perspective Planning & Consulting, LLC. This Plan anticipates Agency acquisition of property within the Project Area; 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 in the Project Area qualify for Agency acquisition and development. 12 200 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 and to encourage public-private partnership and development opportunities; c. The engineering, design, installation, construction, and/or reconstruction of the transportation network within the Project Area, including all streets and streetscapes within the Project Area, with a focus on alignment and widening the intersection at 12th West and Highway 33, intersection improvements at 12th West and 7th South, installing a signal north of Main Street, and widening 12th West and Bridge Street. The engineering, design, installation, construction, and/or reconstruction of the related pedestrian and bicycle facilities, sidewalk, curb and gutter, other intersection improvements, road widenings, and traffic signals (if needed), and the engineering, design, installation, and construction of new public rights-of-way throughout the Project Area to support access and connectivity within the Project Area and future development; d. The engineering, design, installation, construction and/or reconstruction of sidewalks and related pedestrian and bicycle facilities, curb, gutter and streetscapes throughout the Project Area, which for purposes of this Plan, the term streetscapes include sidewalks, lighting, landscaping, benches, signage, way- finding, bike racks, public art, and similar amenities between the curb and right- 13 of-way line; and other public improvements, including multi-use pathways with landscape buffers and public open spaces and recreation areas; e. The engineering, design, relocation, 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 to provide a loop to ensure pressure and increase capacity, oversizing, including extension of the water distribution system, water capacity improvements, including to increase fire flows, water storage upgrades, water pressure upgrades, wastewater system improvements and upgrades, oversizing, including extension of the wastewater collection system, a new lift station (Rimrock) and pressure sewer line to the treatment plan, a new lift station (US 20) in the southern portion of the Project Area and associated system enhancements for the area, and improvements, and upgrades to power, gas, fiber optics, communications and other such facilities. To the extent construction of utilities outside of the Project Area are identified, such improvements are directly related to the growth and development within the Project Area, but cannot be sited within the Project Area; f. Removal, burying, and/or relocation of overhead utilities and power poles; removal or relocation of underground utilities; extension of electrical distribution lines and transformers; improvement of irrigation and drainage ditches and laterals; relocation, undergrounding or piping of canals and/or laterals; addition of fiber optic lines or other communication systems; g. The acquisition of real property (and/or easements) for public right-of-way and streetscape improvements, public parks, pedestrian facilities, pathways and trails, recreational access points and to encourage development opportunities consistent with the Plan. Improvements to public open space and pathways include but are not limited to the pedestrian bridges and installation and/or improvements to public plazas, parks, pathways and trails; h. The acquisition of real property 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; i. 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; j. 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; 14 k. The management of any property acquired by and under the ownership and control of the Agency; l. The development or redevelopment of land by private enterprise or public agencies for uses in accordance with this Plan, and funding of any planning studies, including traffic impact studies; m. The construction and financial support of infrastructure necessary for the provision of improved transit and alternative transportation; n. 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 the purchase of public safety equipment, including, but not limited to emergency services vehicle and/or 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. o. The provision of financial and other assistance to encourage and attract business enterprise including but not limited to mixed-use commercial, retail, office and hospitality projects; p. Site remediation due to basalt removal/remediation and structural fill and/or to remediation environmental contamination for the installation and construction of rights-of-way and utility trenching for the development and construction of facilities for mixed-use commercial, office, retail, multi-family residential and hospitality industrial uses; q. The preparation and assembly of adequate sites for the development and construction of facilities for commercial, office, retail, residential, and governmental use; r. 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, traffic studies, achieving high standards of development, and leveraging such development to achieve public objectives and efficient use of scarce resources; s. To the extent allowed by law, lend or invest federal funds to facilitate development and/or redevelopment; t. 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; 15 u. 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, outmoded street patters, need for correlation by area with other areas of the City by streets and modern traffic requirements, faulty lot layout/obsolete platting, insanitary or unsafe conditions, and inadequate utility infrastructure needed for commercial and residential 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, 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. 16 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, 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. 17 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 phasing issues, development timing and schedule, 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, 2046. 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. 18 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. 19 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. 20 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, and retail 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/or development and in order to execute this Plan, for the power of eminent domain to be employed by the Agency or by the City with the Agency acting in an advisory capacity 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. 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 Area by any lawful means, including eminent domain for the purpose of developing the public improvements described in section 305.1. 21 306 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. 22 309 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. 23 That the developers, their successors, and assigns agree: 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 schedule, 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, 2046. The Agency shall retain its discretion to negotiate an earlier date to accomplish all obligations under any disposition and development agreement. 24 309.3 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 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. 311 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. 25 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. 312 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, as well as public and governmental use. 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 contains existing maintained public rights-of-way included within the boundaries, including portions of Highway 33 and 12th West, as shown on Attachment 1. Any new roadways, including new local, collector and arterial roads 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 or Madison County (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. 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, vacated, expanded, or modified as necessary for proper development of the Project Area, in conjunction with any applicable policies and standards of the City or County (or Idaho Department of 2 To the extent development occurs within unincorporated Madison County but within the area of city impact, the Agency will rely on the City’s development code as allowed by the County in the area of City impact. 26 Transportation) regarding changes to dedicated rights-of-way, and appropriate irrigation or drainage districts regarding changes to laterals or ditches. 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 27 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 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, 28 however, each and every development shall comply with all applicable local zoning and building ordinances. 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 or grant from the City or 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, 2026. These revenue allocation provisions shall apply to all taxing districts which are located in or overlap the Revenue Allocation Area3 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 3 Subject to the requirements of Idaho Code Section 50-2906(4) related to fire protection and ambulance districts, and Idaho Code Section 50-2908(2)(a)(iv) related to highway districts, if applicable. 29 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 bond, note or line of credit issued by a bank or lending institution premised upon revenue allocation funds generated by a substantial private development 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 of certain eligible public infrastructure improvements and projects to be reimbursed pursuant to an owner participation agreement 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, the location of proposed public infrastructure 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 and consultants’ 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, market adjustments, future priorities, developers/owners seeking Agency assistance pursuant to an owner participation agreement, and unknown future costs. Agency revenue and the ability to fund reimbursement of eligible Project Costs is more specifically detailed in the annual budget. Revenues will continue to be allocated to the Agency until termination of the revenue allocation area as set forth in Section 800. The Study incorporates estimates and projections based on the Agency’s and its consultants’ 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 from another source. 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 30 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. 502.1 Economic Feasibility Study Attachment 5constitute the West Highway Urban Renewal District Economic Feasibility Study (the “Study”), prepared by Brad Cramer, Perspective Planning & Consulting. 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 and consultants’ present knowledge and expectations. The Plan proposes certain public improvements as set forth in the Study, and in Section 301, 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 and its consultants in 31 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 or projected new development, assessed value increases, and assumed tax levy rates as more specifically set forth in the Study. In projecting new construction, the Study considered conservative projections based on known or proposed developments in the Project Area, anticipated build-out timeline utilizing four buildout scenarios at 10-years, 12- years, 15-years and 20-years,and anticipated projected future developments for commercial, retail and residential projects. The list of public improvements, or activities within the Study are prioritized by way of feasibility based on estimated revenues to be received, amounts funded, and by timing of the proposed funding, which the priority projects being identified as the most important. The projected timing of funding is primarily a function of the availability of financial resources and market conditions but is also strategic, considering the timing of anticipated or projected private development partnership opportunities and the ability of certain strategic activities to stimulate development at a given point in time within the duration of the Plan and Project Area. The assumptions concerning revenue allocation proceeds are based upon certain anticipated or projected new developments, assessed value increases, and assumed tax levy rates as more specifically set forth in the Study. In projecting new construction, the Study considered projections for land uses and densities on vacant land in the Project Area. Based on this information the consultant reviewed similar existing developments, calculated gross densities and applied these to vacant lands. The consultant also reviewed tax records of existing townhome and single family detached home developments and calculated average rates of owner versus renter occupancy in order to estimate the impact of the homeowner exemption. The model for each build-out scenario assumes an equal percentage of development will be constructed annually. The Study assumed improved properties within the Project Area would appreciate by 7% annually. The levy rate is assumed to decrease 5% throughout the life of the Project Area. Using these assumptions, it was projected that the Project Area is anticipated to generate approximately $43.5-68.5 million in revenue over the life of the Project Area to fund public infrastructure projects. The types of new construction expected in the Project Area are: commercial, office, residential, including residential above retail and office, live-work residences, higher density townhome, and single-family homes, lodging and retail, together with governmental and public projects. Developers have identified significant interest in these development types. The Project Area has potential for a significant increase in commercial growth due to the proximity to major transportation corridors and population growth. Several large parcels in the Project Area have 32 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, 20254, is $2,730,223,521. Therefore, the 10% limit is $273,022,352.00. The adjusted base assessment roll values for the Agency’s four (4) existing revenue allocation areas as of January 1, 2025, and the proposed base value for the Project Area are as follows: 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 $33,384,430.005 TOTAL $115,021,687.00 The estimated base value for the proposed Project Area is $33,384,430.00. The combined total adjusted base assessment roll values for all existing revenue allocation areas including this Project Area are $115,021,687.00 which is less than 10% of the City’s 2025 taxable value. 4 Due to the timing of the assessment process and creation of this Plan, the 2025 values have been used to establish compliance with the 10% limitation. Using the 2025 values, the total value of the existing revenue allocation areas combined with the value of this Project Area are less than 4,2% of the total taxable value of the City. Even assuming an increase in values for 2026, 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. 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. 33 502.4 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 bonds and/or notes, annual revenue allocation proceeds, 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 Study has further identified and described a list of additional improvements, i.e., non-prioritized projects on the project list. 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 projects and improvements consistent with those identified in Attachment 5. 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 additional activity and projects identified in Attachment 5 and the 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 in the project list and the prioritized project list pursuant to market conditions, project timing, funding availability, etc., as more specifically detailed in the annual budget. The Agency may also re-prioritize projects in the project list and the location of those 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 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 34 and shall not be considered a modification of the Plan pursuant to Idaho Code Section 50- 2903A. The information contained in the Study assumes certain projected actions. First, 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. Second, 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 conditions, project timing, funding availability, etc. as more specifically detailed in the annual budget. The Study 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 the Study 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 Study 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 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 prioritized projects and improvements identified in the Study first, in conjunction with private development within the Project Area generating the increment as identified in the Study. 35 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. 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 taxable 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 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 36 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. The Study’s analysis is premised upon the fact the proposed development and/or redevelopment would not occur but for the ability to use revenue allocation funds to fund certain significant public infrastructure improvements. 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, or a deannexation occurs. Any new construction within the Project Area is not available in the short term for inclusion by the taxing entities to increase their budget capacity. Upon termination of this Plan or deannexation of area, the taxing entities will be able to include a percentage of the increment value on new construction roll for purposes of setting the following year’s budget and revenue from such value is not limited to the eight percent cap set forth in Idaho Code § 63-802. As the 2026 certified levy rates are not determined until late September or October 2026, the 2025 certified levy rates have been used in the Study for purposes of the analysis6. For Tax Year 2025, those districts and rates for the parcels located within the City are as follows: City Parcel Taxing Districts Levy Rates: Madison County .003706181 Madison County Abatement District .000205322 Madison County Ambulance 0 Madison County Road & Bridge .000492414 Madison Library District .000387339 City of Rexburg .003136381 Madison School #321 .0000464427 6 Due to the timing of the taxing districts’ budget and levy setting process, certification of the 2026 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 2025 levy rates are used. Use of the 2025 levy rates provides a more accurate base than estimating the 2026 levy rates. 37 Rexburg Cemetery .000028478 Burton Cemetery8 .000046653 TOTAL: .0080025579 For Tax Year 2025, those districts and rates for the parcels located within the unincorporated County are as follows: County Parcel Taxing Districts Levy Rates: Madison County .003706181 Madison County Abatement District .000205322 Madison County Ambulance 0 Madson County Road & Bridge .000492414 Madison Library District .000387339 Madsion School #321 .00004644210 Madison Fire 0 Rexburg Cemetery .000028478 Burton Cemetery11 .000046653 TOTAL: .00486617612 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 developed in unincorporated Madison County; it is not anticipated those parcels will be annexed into the City prior to development. However, since the parcels within unincorporated Madison County represent a smaller percentage of the total, the levy rate applied to parcels within the boundaries of the City has been used to estimate revenue. Second, under each scenario in the Study, the levy rate is estimated to decrease 5% annually for the life of the revenue allocation area. The annual increment value is expected to increase by approximately 7% per year over the term of the Plan. If the 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 7 Tort levy only. 8 A portion of the Project Area overlaps the Burton Cemetery District, instead of the Rexburg Cemetery District. The Burton Cemetery District levy is higher than the Rexburg Cemetery District levy, but because the parcels within the Burton Cemetery District are less than 25% of the total, only the Rexburg Cemetery levy is included in the total levy rate. 9 Does not include the Burton Cemetery levy. 10 Tort levy only. 11 A portion of the Project Area overlaps the Burton Cemetery District, instead of the Rexburg Cemetery District. The Burton Cemetery District levy is higher than the Rexburg Cemetery District levy, but because the parcels within the Burton Cemetery District are less than 25% of the total, only the Rexburg Cemetery levy is included in the total levy rate. 12 Does not include the Burton Cemetery levy. 38 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. House Bill 436, effective retroactive to January 1, 2025, amends Idaho Code § 50-2906 providing that fire protection and ambulance service districts are not subject to the financing provisions of a revenue allocation area modified after July 1, 2025, unless the fire protection district and/or the ambulance service district each consent to be included pursuant to the process outlined in Idaho Code § 50-2906(4). This amendment will apply to this Plan. Should Madison County Ambulance and/or Madison Fire Protection District fail to consent to be included in the Project Area, the levy from that district will not generate revenue for this Project Area. To be conservative the Plan and the Study do not include receipt of revenue allocation funds from the Madison County Ambulance levy or the Madison Fire Protection District levy in the revenue model. 503 Phasing and Other Fund Sources The Agency anticipates funding only the prioritized portion of the total cost of the identified public improvements shown in the Study. The Agency also anticipates other sources of funds for the additional projects on the project list, which may include City, and other public entity parties, owner/developer participation, and financing. It is important to note this Plan does not financially bind or obligate the City, Agency, and/or any other public entity to any project or property acquisition. The City and/or other local government entities continue to be subject to statutory and constitutional budget and levy limitations. The City, Agency, and/or other public entity participation in any project shall be determined by the amount of revenue allocation funds generated and pursuant to the annual budgeting process. 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. 39 505 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 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. 40 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. 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, and to coordinate with the Agency and/or City on the establishment of a community infrastructure district. The foregoing actions, if taken by the County, do not constitute any commitment for financial outlays by the County. In addition to the above, other public entities 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. 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. 41 700 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 and 50-2905(7). The revenue allocation authority will expire on December 31, 2046, except for any revenue allocation proceeds received in calendar year 2047, as contemplated by Idaho Code § 50-2905(7). The Agency may use proceeds in 2047 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, 2046. Pursuant to Idaho Code § 50-2914 the Agency may terminate an urban renewal plan containing a revenue allocation financing provision in accordance with the provisions of Idaho Code §§ 50-2903(5) and 50-2909(4). Idaho Code § 50-2903(5) provides “[i]n the event that the [A]gency determines that current tax year revenues are sufficient to cover all estimated expenses for the current year and all future years”, the Agency shall adopt a resolution of intent to terminate the revenue allocation area by September 1 in the year of termination. 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, 2047, 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. 42 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. 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. For those assets which do not provide such resources or revenues, the Agency will likely convey such assets to the City, depending on the nature of the asset. 900 PROCEDURE FOR AMENDMENT OR MODIFICATION Modification of this Plan by City Council ordinance 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 43 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 and the State Controller’s office, on or before March 31 of each year, a report of the Agency’s activities for the preceding calendar year, which report shall include certain financial information required under Idaho Code § 67-1076. This annual report shall be considered at a public meeting to report these findings and take comments from the public. Additionally, the Agency must comply with certain other reporting requirements as set forth in the local government registry portal, Idaho Code §§ 67-1076 and 50-2006(5)(c), State of Idaho Controller’s Office, and 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. 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NO°11/04" W Le g e n d To T N RE N E W A L EX H I B I T @— Ur b a n Re n e w a l Di s t r i c t Bo u n d a r y S$ 89° 4 5 ' 4 0 " W DAT E : 07 / 1 4 / 2 0 2 6 DR A W N I C H K BY : PS S PR O J E C T : _2 6 0 7 6 / T O N R 3 9 L / G I S SH E E T 11 OF 12 (7 ) BA D G E R AE R I A L MA P P I N G & SU R V E Y I N G / Ex c e p t i o n A r e a [] PL S S Se c t i o n Bo u n d a r i e s Par c e l Bo u n d a r i e s Ma d i s o n Co u n t y Zo n i n g [} Tra n s i t i o n a l Ag r i c u l t u r e Re x b u r g Zo n i n g [_ ] Lo w De n s i t y Re s i d e n t i a l 2 0 20 0 40 0 60 0 ft SHO SN A R E RI V E R CI O L [) Tra n s i t i o n a l Ag r i c u l t u r e | 7 RI G B Y , ID 83 4 4 2 20 8 - 7 1 5 - 4 3 8 0 RE X B U R G UR B A N RE N E W A L EX H I B I T SE C T I O N S 13 , 14 , 23 , 24 , 25 & 26 OF TO W N S H I P 6 NO R T H , RA N G E 39 EA S T ,. y OF TH E BO I S E ME R I D I A N : : CI T Y OF RE X B U R G , MA D I S O N CO U N T Y , ID A H O oR 5.98" NO21104.W. _ o4 1305.22" N.0°19'20" W, $'0920'31" 2084.99 Se c . 27 Se c . 26 EX C E P T I O N AR E X MOO0E S 7326701) N.0°10'02" W. W 100 0 8 Le g e n d @— Ur b a n Re n e w a l Di s t r i c t Bo u n d a r y DA T E : 0’ DR A W N I C H K BY : PS/ J S . PR O J E C T : _2 6 0 7 6 / T 6 N R 3 9 E / G I S SH E E T 12 OF 12 / Ex c e p t i o n A r e a Re x b u r g Zo n i n g [_ ) Lo w De n s i t y Re s i d e n t i a l 2 [J Rura l Res i d e n t i a l 1 Pub l i c Fa c i l i t i e s (4 ) Tr a n : on a l Ag r i c u l t u r e Se c . 35 Se c t i o n Bo u n d a r i e s Pa r c e l Bo u n d a r i e s GO iy ) BA D G E R AE R I A L MA P P I N G & SU R V E Y I N G 430 SN A K E RI V E R CI R C L E RI G B Y , ID 83 4 4 2 20 8 - 7 1 5 - 4 3 8 0 Attachment 2 Legal Description of Urban Renewal Project Area and Revenue Allocation Area Attachment 2 Legal Description of Urban Renewal Project Area and Revenue Allocation Area 810 L 88eq ‘V8V6Z7C ‘ON LNIINNUYLSNI SV G31l4 330 SHL NI Gaaluosaa SQNV1 4HL JO YANYOD LSAMHLNOS JHL OL VEELIV ‘ON LNAJWINYLSNI SV G34 G33d JHL NI G3a1dDS30 SGNV1 SHL JO AYVGNNO” 1S4M FHL ONO 1334 00°889 M ,,v0 ,TT 00 N JONIHL ‘149 YUWd JHL JO YANYOD LSVWIHLNOS JH OL ZTSSEZ ‘ON LNIWINYLSNI SV G34 G33 FHL NI G38!dDS3d SANV1 FHL AO AYVONNOE HLNOS FHL ONO L354 9Z'€67 J 9S 8 .68 N JONIHL ‘CTSSEC "ON LNAWAYLSNI SV G31Id 34d AHL NI G391Y¥9S30 SGNV1 AHL 4O YANYOD LSAMHLNOS AHL OL 97 NOILOAS GIVS 40 ANIT LSAM SHL ONO 14554 00°09 M 70 TT 000 N SONSHL ‘97 NOILOAS GIVS 4O ANIT LSAM JHL OL OLS9EZ ‘ON LNAINNUYLSNI SV G34 G330 FHL NI G48ldDS4d SGNV1 SHL JO ANVGNNO” HLYON JHL ONOWW L354 97°€6Z M ..9S .8v .68 S JONIHL ‘OLS9ET ‘ON LNAIINYLSNI SV G34 G34G FHL NI Gagluosaa SGNV1 AHL 4O YANYOD LSVIHLYON SHL OL VE6L9V “ON LNSINNYLSNI SV G31ld G33 SHL N! G381d9S4ad SGNV1 JHL JO AUVGNNO” LSAM FHL ONO 1344 SS'TVE M 70 TT 00 N JONIHL “130 euWd JHL JO YINYOD LSVAHLNOS JHL OL V908bZ ‘ON LNIWNUYLSNI SV G34 330 FHL NI Q4d1d9DS4d SGNV1 JHL AO AUVGNNO HLNOS SHL ONOWW 14354 LZ°€6Z J ET 07 668 N JONSHL ‘9082 ‘ON LNAWINYLSNI SV G44 G34 JHL NI G48!d¥9S3d SGNV1 HL JO YANYOD LSAMHLNOS AHL OL 97 NOILOAS GIVS 40 ANIT LSAM JHL ONO 1354 86°S2 M v0 TT .00 N JODNSHL ‘97 NOILDAS GIVS 4O INIT LSAM JHL OL TVOOOr “ON LNAWINYLSNI SV G14 G330 SHI NI Q4glYDSA0 SGNV1 SHL AO AYVGNNO HLYON SHL ONO 1344 Z7°ETET M OV St 668 S JONAHL ‘1944 7Z°SOET M ,,0Z .6T ON (Z ‘1334 TO'9ZET M ZO OT OON (T ‘SASUNOD (Z) OML ONIMOTIO4 JHL YOS VE6L9¥ ‘ON LNAINNYLSNI SV G34 G34 FHL NI G4gI49SIG SGNV1 JHL JO ANVGNNOG LSAM JHL ONOTW JDNAHL ‘1944 77 TS9OT M WT €S 68S (Z ‘Ld54d G6'T67Z M u2Z 7S 068 S (T °SASUNOD (Z) OML ONIMOTIOS SHL HOS 9Z NOILOIS GIVS JO ANIT HLNOS AHL ONONW JONSHL ALNNOD NOSIGVWI ‘NVIGINJW 3S1O9 FHL JO LSV4 6E JONVY “HLYON 9 dIHSNMOL ‘9Z NOILOAS JO YANYOO LSVIHLNOS 3H LV ONINNID3I “SMOTIOS SV GIalYDSAG ATYVINDILYVd JUOW ‘OHVG! ALNNOD NOSIGVII ‘NVICIYAW JSIOd FHL JO LSW3 6E JONVY “HLYON 9 dIHSNMOL “9Z GNV ‘SZ ‘v7 ‘EZ ‘VT ‘ET SNOILOAS NI G31VIO1 GNV1 40 1390 uvd V THENCE N 89° 48' 58" E 941.36 FEET ALONG THE NORTH BOUNDARY OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT NO. 467934 TO THE SOUTHEAST CORNER OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT NO. 474322; THENCE N 00° 07' 29" W 327.02 FEET ALONG THE EAST BOUNDARY OF THE LANDS DESCRIBED IN THE DEEDS FILED AS INSTRUMENT NO. 474322 TO THE SOUTHERLY RIGHT OF WAY OF STATE HIGHWAY 33; THENCE ALONG THE SOUTHERLY RIGHT-OF-WAY LINE OF STATE HIGHWAY 33 FOR THE FOLLOWING FIVE (5) COURSES: 1) N 83° 54' 33" E 152.36 FEET; 2) N 79° 20' 46" E 174.54 FEET; 3) N 79° 20' 49" E 135.04 FEET; 4) N 73° 59' 39" E 120.59 FEET; 5) N 62° 29' 12" E 120.53 FEET; THENCE N 07° 57' 38" E 51.41 FEET TO A POINT; THENCE N 00° 57' 13" E 74.72 FEET ALONG THE WEST BOUNDARY OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT NO. 467818 TO THE SOUTHWEST CORNER OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT NO. 400065; THENCE N 00° 44' 32" W 250.92 FEET ALONG THE EAST BOUNDARY OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT No. 400065 TO THE NORTHWEST CORNER OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT NO. 467818; THENCE N 00° 44' 33" W 652.78 FEET ALONG THE EAST BOUNDARY OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT NO. 400065 TO THE NORTH LINE OF SAID SECTION 26; THENCE ALONG THE NORTH LINE OF SAID SECTION 26 FOR THE FOLLOWING TWO (2) COURSES: 1) N 89° 38' 01" E 713.36 FEET; 2) N 89° 38' 18" E 803.91 FEET: THENCE N 00° 21' 42" W 200.00 FEET ALONG THE WEST BOUNDARY OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT NO. 326217 TO THE SOUTHWEST CORNER OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT NO. 473281; THENCE N 89° 38' 03" E 256.07 FEET ALONG THE NORTH BOUNDARY OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT NO. 326217; THENCE S 00° 22'57" E 200.02 FEET ALONG THE EAST BOUNDARY OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT NO, 326217 TO THE NORTH LINE OF SAID SECTION 26; Page 2 of 8 THENCE N 89° 38' 20" E 110.69 FEET ALONG THE NORTH LINE OF SAID SECTION 26 TO THE SOUTHWEST CORNER OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT NO. 444979; THENCE N 00° 16' 43" W 1004.77 FEET ALONG THE EAST BOUNDARY OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT NO. 473281 TO THE NORTHWEST CORNER OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT NO. 254930; THENCE S 89° 18' 24" E 426.33 FEET ALONG THE SOUTH BOUNDARY OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT NO. 415252 TO THE NORTHEAST CORNER OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT NO. 254930; THENCE N 88° 45' 29" E 448.84 FEET ALONG THE SOUTH BOUNDARY OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT NO. 415252 TO THE NORTHEAST CORNER OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT NO. 452681; THENCE N 01° 08' 08" W 121.34 FEET ALONG THE EAST BOUNDARY OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT NO. 415252 TO THE NORTHWEST CORNER OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT NO. 438013; THENCE ALONG THE NORTH BOUNDARY OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT No. 438013 FOR THE FOLLOWING FIVE (5) COURSES: 1) S$ 89° 54' 01" E 105.82 FEET; 2) S 46° 02' 36" E 67.19 FEET; 3) S$ 87° 51' 23" E 124.60 FEET; 4) N 28° 54' 44" E 96.91 FEET; 5) N 63° 34' 48" E 19.63 FEET; THENCE N 44° 33' 12" E 49.95 FEET TO THE SOUTHWEST CORNER OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT NO. 415252; THENCE N 00° 24' 37" W 513.18 FEET ALONG THE EAST BOUNDARY OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT NO. 415252 TO THE NORTHWEST CORNER OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT NO. 415252; THENCE N 89° 41' 06" W 83.32 FEET ALONG THE SOUTH BOUNDARY OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT NO. 399596; THENCE N 00° 19' 38" W 10.05 FEET ALONG THE WEST BOUNDARY OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT NO. 399596; Page 3 of 8 8JOpased ‘1934 OV'7Z 4 LV 60 29 N (T ‘SASYNOD (S) SAIS ONIMOTIO4J AHL YO4 £89297 ‘ON INSINNYLSNI SV G34 034d JHL NI G391¥9SICd SGNV1 JHL AO AYVGNNO LSAM JHL ONOIV JDNSHL ‘E9602 ‘ON LNJWNYLSNI SV G34 Gadd 3HL NI G3ald9S4d SGNVT SHL AO AUVONNOS LSV4 FHL ONOW 1344 78°6ZZ M SE .ZT OO N JONIHL ‘L89L9v ‘ON LNAWNYLSNI SV G34 G33dG FHL NI Gagiwosaa SGNV1 AHL JO YANYOD LSAMHLNOS JHL OL 7ZVZS7 “ON LNAWINYLSNI SV G31I4d G330 FHL NI GadldDS4d SGNV1 SHL AO AYVGNNO HLYON FHL ONO L334 OT'667 M .ZE 8 068 S JONAHL ‘CLV7SV ‘ON LNIAWNYLSNI SV G34 G30 JHL NI G3agiyosaa SONV1 4H1L JO AUVGONNOE LSV3 FHL GNV SZVTZE “ON LNAINNYLSNI SV G31l4d G39 JHL N! G48ldDS4d SGNV1 AHL AO AYVGNNO” LSV3 FHL ONO 1354 TO'STET M SE ,9Z 00 N JONIHL ‘SLVTLE ON LNAININYLSNI SV G3Tl4 G4dd JHL NI Gagiuosaa SONV1 SHL JO YANYOD LSVAHLNOS FHL OL S6OTSE “ON LNSIWNYLSNI SV G31ld 0330 JHL NI G38lYDSAd SGNV1 AHL AO AYVGNNOG HLNOS JHL ONOW 1554 88°SE9Z M ,.8T OV .68 S JONSHL 1454 vv'680T M ,Z0,IT ON (Pp 1334 77'868T M Si ,2T OON (€ 1354 00'6ZZT M VE ,6T OON (Z 1354 06°€S6 M ,,ZT 07 ON (T “SASYNOD (7) YNOJ ONIMOTIOS JHL YOS VT NOILDIS 4O ANI LSV4 AHL SNOW ONINNILNOD GNV EZ NOILOAS GIVS JO ANI LSV3 FHL ONOTW JONSHL ‘NVIGINSW S109 JHL 4O LSV3 6E JDNVY HLYON 9 dIHSNMOL ‘EZ NOILD3S JO ANI LSVJ FHL OL OVIGSE ‘ON LNAWNYLSNI SV G31I4 G330 FHL NI Q481d9S3d SGNV1 SHL JO AYVGNNO HLYON AHL ONO 1344 9V'°8ZT 4 ZT 8S 668 N JONSHL ‘OV968E ‘ON LNIWINYLSNI SV G34 G44d FHL NI G48ld9S3ad SGNVT SJHL JO AYVGNNOd LSAM FHL ONOW 135354 T8677 4 WES 87 Ov N JONSHL ‘OV968E ‘ON LNAWINYLSNI SV G31l4 G33G JHL NI G49l¥9S4d SGNV1 AHL JO AYVGNNOE LSAM AHL ONO 1444 80° TET 5.95 vv £2 N JONAHL ‘OV968E ‘ON LNIWINYLSNI SV G34 G34d SHL NI G48ld9S4d SGNV1 FHL AO AYVONNO LSAM FHL ONO 1454 9T'70Z J 872 17S ET N JONSHL ‘OV968E ‘ON LNIWNYLSNI SV G34 d330 FHL NI G3aglyoSaa SGNV1 4HL JO YANYOD LSAMHLNOS AHL OL OVIEBE "ON LNAIWNYLSNI SV G34 G330 JHL NI G4aldDS3d SGNV1 SJHL AO AYVGNNO HLNOS AHL ONOTY 1344 ZT'60T M EZ .8T 668 N JONSHL 2) N 47° 21' 08" E 23.19 FEET; 3) N 33° 02! 04" E 19.18 FEET; A) N 20° 05' 08" E 19.16 FEET; 5) N 06° 46' 16" E 20.32 FEET: THENCE N 89° 56' 50" E 241.07 FEET ALONG THE SOUTH BOUNDARY OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT No. 470963; THENCE N 00° 26' 22" W 298.49 FEET ALONG THE WEST BOUNDARY LINE OF ADARA AT TETON LAKES SUBDIVISION FILED AS INSTRUMENT NO. 467687; THENCE N 89° 48' 57" E 1322.84 FEET ALONG THE NORTH BOUNDARY LINE OF ADARA AT TETON LAKES SUBDIVISION FILED AS INSTRUMENT NO. 467687; THENCE S 00° 16' 44" E 657.28 FEET ALONG THE WEST BOUNDARY LINE OF SUNRISE MEADOWS SUBDIVISION FILED AS INSTRUMENT NO. 285793; THENCE N 89° 47' 48" E 1367.71 FEET ALONG THE NORTH BOUNDARY LINE OF ADARA AT TETON LAKES SUBDIVISION FILED AS INSTRUMENT NO. 467687 TO THE NORTHWEST CORNER OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT No. 455321; THENCE S 00° 05' 41" W 1310.67 FEET ALONG THE EAST RIGHT-OF-WAY OF N 12™ WTO THE SOUTHWEST CORNER OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT No. 437201; THENCE S 89° 59' 51" E 2944.83 FEET ALONG THE NORTH BOUNDARY OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT No. 194287 TO THE NORTHWEST CORNER OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT No. 411501, BEING ON THE EASTERLY RIGHT OF WAY OF US HIGHWAY 20; THENCE ALONG THE EASTERLY RIGHT-OF-WAY OF US HIGHWAY 20 FOR THE FOLLOWING TEN (10) COURSES: 1) S 26° 51' 05" W 579.60 FEET; 2) S 21° 28' 46" W 859.98 FEET; 3) $ 15° 11' 19" W 1012.02 FEET; 4) S 08° 37' 46" W 901.33 FEET; 5) S$ 03° 18' 36" W 652.98 FEET; 6) S 03° 03' 51" W 235.45 FEET; 7) S$ 00° 09' 03" E 1455.78 FEET; 8) S 00° 09' 26" E 1011.85 FEET; 9) S 06° 41' 53" E 1306.95 FEET; 10) S 00° 14' 42" E 40.22 FEET TO THE SOUTH LINE OF SECTION 24, TOWNSHIP 6 NORTH RANGE 39 EAST OF THE BOISE MERIDIAN; Page 50f 8 THENCE S 89° 49' 23" W 2078.21 FEET ALONG SAID SOUTH LINE OF SECTION 24 TO THE NORTHEAST CORNER OF SAID SECTION 26; THENCE S 00° 22' 07" E 1319.85 FEET ALONG THE EAST LINE OF SAID SECTION TO THE NORTHWEST CORNER OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT No. 455559; THENCE N 89° 52' 03" E 1707.15 FEET ALONG THE SOUTH BOUNDARY OF LORIN WIDDISON SUBDIVISION FILED AS INSTRUMENT No. 152265 TO THE NORTHEAST CORNER OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT No. 455559, BEING COINCIDENT WITH THE WESTERLY RIGHT-OF-WAY OF US HIGHWAY 20; THENCE S 00° 11' 01" E 1977.34 FEET ALONG SAID WESTERLY RIGHT-OF-WAY OF US HIGHWAY 20 TO THE SOUTHEAST CORNER OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT No. 250423; THENCE S 89° 42' 48" W 1700.46 FEET ALONG THE SOUTH BOUNDARY OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT No. 250423 TO THE EAST LINE OF SAID SECTION 26; THENCE S 00° 21' 22" E 1977.42 FEET ALONG THE EAST LINE OF SAID SECTION 26 TO THE POINT OF BEGINNING. LESS AND EXCEPTING THE FOLLOWING DESCRIBED AREA: BEGINNING AT A POINT THAT LIES S 89° 52' 22" W 871.99 FEET ALONG THE SOUTH LINE OF SECTION 26, TOWNSHIP 6 NORTH RANGE 39 EAST OF THE BOISE MERIDIAN FROM THE SOUTHEAST CORNER OF SECTION 26 AND N 00° 07' 38" W 41.29 FEET, SAID POINT BEING LOCATED ON THE NORTHERLY RIGHT OF WAY OF COUNTY ROAD W 10005; THENCE ALONG SAID NORTH RIGHT-OF-WAY OF W 1000 S FOR THE FOLLOWING THREE (3) COURSES: 1) THENCE S 89° 48' 11" W 1485.70 FEET; 2) THENCE S 89° 53' 10" W 601.04 FEET; 3) THENCE S 89° 53' 31" W 538.37 FEET; THENCE N 00° 19' 58" W 509.04 FEET ALONG THE WEST BOUNDARY OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT No. 470484 TO THE NORTHWEST CORNER OF THE PARCEL; Page 6 of 8 910 29804 ‘6€680¥ ‘ON LNAININYLSNI SV G3GYOD3y ‘vy ‘ON NOISIAIG LNAWdO1SA3d LINN GANNV1d G1SISYaINIAINS JO YANYOD LSVAHLNOS JHL OL M yi2T S SO AVM-AO-LHOIY ATYSLSAM GIVS ONO L354 BETS J ZS ,7Z 00 S JDNAHL ‘M yi2T S AO AVM-4O “LHS ATYALSAM JHL HLIM LNAGIONIOD ONIAE ‘977Z8E ‘ON LNJINNUYLSNI SV G34 G330 FHL NI G48lY¥DS4d SGNV1 SHL JO AUVONNOE HLNOS JHL ONOW L334 Sv'8r M VE SP 68S JONIHL ‘1944 TT'TSZ J .ZE ET 00S (Z ‘1344 78°T7Z8 4 Tv .€Z 00S (T “SASUNOD (Z) OML ONIMOTIOS 9Z NOILOIS JO JNM LSV4 GIVS SNOW JONSHL ‘9% NOILDAS CIVS JO ANI LSV4 FHL OL 89SELE ‘ON LNAWNYLSNI SV G3T4 Gadd JHL NI G48ldDS4ad SANV1 FHL 40 AYVGONNOE HLYON SHL ONOWW L344 TE’EES JWG TS .88 N JONIHL ‘89SELE ‘ON LNIWINYISNI SV G34 G330 JHL NI Q3al¥9S4Ad SGNV1 AHL JO AUVGNNO” LSAM FHL ONONW 1454 Z7°Z8E M ..9Z 70 .TO N JONAHL ‘1954 72676 J ES Lv SBN (Z ‘1934 LL6VTT J Sv TT 98 N (T *SASUNOD (Z) OML ONIMOTIOS JHL YO4 S6689E “ON LNIWNYISNI SV G31ld 0340 JHL NI GadldDS3G SGNV1 SHL AO AUVGNNOP HLNOS JHL ONOTW JONIHL ‘G6689E ‘ON LNIAINYLSNI SV G34 G33d JHL NI Gagiyosaa SANV1 AHL JO YANYOD LSAMHLNOS AHL OL 600EZZ “ON LNAIWNYLSNI SV G31l4 0330 FHL NI G3dldDS4d SGNV1 SHL AO AYVGNNO” LSAM JHL SNOW L344 TO'7ZS M VS ,ZT 00 N JONAHL ‘VE6L9V “ON LNAWINYLSNI SV G31l4d G34 FHL NI G3aIydS3d SGNV1 JH 40 YANYOD LSVJHLNOS FHL OL ZTTEVH “ON LNIWINYLSNI SV G34 NOISIAIGENS G1gISYsINAINS 4O ANI AYVGONNO' HLYON FHL GNV 9TE994 “ON LNIWINUYLSNI SV G31l4 G33d JHL NI G4dldDS4d SGNV1 JHL 4O AYVGNNOG HLYON AHL ONO L334 66°S0E J .9E Sv 68 N JONSAHL ‘OTE99v “ON LNAWINYISNI SV G34 C330 JHL NI GaguDsaa SANV1 SHI 4O YANYOD LSAMHLYON JHL OL VEEL9V ON LNAWINYLSNI SV G34 G34 JHL NI G4dld9S3d SANV1 FHL 4O AYVGNNOE LSVF FHL ONOWW 1334 667807 M ,, TE OZ 00 N JONAH ‘QTE99v ON LNIWNYLSNI SV G34 G34 FHL NI Gagivosad SGNV1 SHL JO YANYOD LSAMHLNOS JHL OL V8VOZr “ON LNIWNYLSNI SV G34 G33d JHL NI G4@ld9S3d SGNV1 SHL JO AYVGNNOS HLYON FHL ONOW 1334 27°S9S J Tv .€S 068 N JONIHL THENCE S 89° 48' 58" W 1263.25 FEET ALONG THE SOUTHERLY BOUNDARY OF SAID SUMMERFIELD PLANNED UNIT DEVELOPMENT DIVISION NO. 4; THENCE S 00° 18' 41" E 1075.32 FEET ALONG THE EASTERLY BOUNDARY OF SAID SUMMERFIELD PLANNED UNIT DEVELOPMENT DIVISION NO. 4 AND CONTINUING ALONG THE EASTERLY BOUNDARY OF SUMMERFIELD PLANNED UNIT DEVELOPMENT DIVISION NO. 3, RECORDED AS INSTRUMENT NO. 383573 AND ALSO THE EASTERLY BOUNDARY OF SUMMERFIELD PLANNED UNIT DEVELOPMENT DIVISION NO. 1, RECORDED AS INSTRUMENT NO. 357443; THENCE S 89° 59'55" E 440.28 FEET ALONG THE NORTH BOUNDARY OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT NO. 398274 AND THE NORTH BOUNDARY OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT NO. 411867 AND ALONG THE NORTH BOUNDARY OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT NO. 444044 TO THE NORTHEAST CORNER OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT NO. 444044; THENCE S 00° 54' 31" E 200.79 FEET ALONG THE EAST BOUNDARY OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT NO. 444044 TO THE POINT OF BEGINNING. Page 8 of 8 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 and/or development; b) assemble with adjacent rights-of-way to improve configuration and enlarge parcels for redevelopment and/or development; 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 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 [Maps Will Be Inserted Upon Receipt] Attachment 4 Map Depicting Expected Land Uses and Current Zoning Map of the Project Area [Maps Will Be Inserted Upon Receipt] Attachment 5 Economic Feasibility Study Attachment 5 Economic Feasibility Study 1 Attachment 5 West Highway Urban Renewal District Economic Feasibility Study Background In 2025, the Rexburg Urban Renewal Agency (RURA) began the process of creating a new urban renewal district west of Highway 20 and north of the University Boulevard Urban Renewal District. The proposed name for the area is the West Highway Urban Renewal District (West Highway District) and covers approximately 840 acres. The area was identified for a potential district by the City of Rexburg and RURA due to the high growth in the area and the need for regional infrastructure to support future construction. Despite this need, there are several challenges for development in the area that are beyond normal developer expectations such as a regional sewer lift station and pressurized sewer line, widening of major roadways without opportunity for cost sharing with developable lands on the other side, and relocation of a major canal. There are also significant issues at and around the intersection of Highway 33 and 1200 West, especially a misalignment of the intersection. To initiate the process of creating the West Highway District to address these issues, RURA authorized an eligibility report for the defined boundary to determine if it was eligible to become an urban renewal area under Idaho Statutes. The eligibility report was adopted by resolution by RURA on October 15, 2025. The City Council adopted the report on November 18, 2025, and authorized the development of an Urban Renewal Plan and creation of a Revenue Allocation Area (Project Area) for the West Highway District. The boundaries of the West Highway District are shown on Map 1. The purpose of this study is to determine the economic feasibility of the proposed West Highway District by analyzing if the tax increment revenue from anticipated development will be sufficient to cover the costs of public improvements and other eligible expenses. This report relies on information provided by staff at the City of Rexburg and Madison County. This data was used to create projected revenues, expenses, and overall cash flow for the life of the urban renewal district. These are shown in a series of tables, followed by a brief analysis of the West Highway District’s economic feasibility. Map 1: West Highway Urban Renewal District Boundaries Map 1: West Highway Urban Renewal District Boundaries 2 Map 1: West Highway Urban Renewal District Boundaries 3 Project Area and Description The West High District includes approximately 400 parcels and 840 acres. It is bounded by 1000 South on the southern end, US Highway 20 on the east, 3000 West on the western side, 2000 North on the northern boundary. Not all of the Study Area is currently annexed into the City of Rexburg. Approximately 200 acres, or 23%, remains in Madison County, although most of these lands are within the Area of City Impact. Most of the area is undeveloped, although the central area at the intersection of Highway 33 and 12th West (the main north/south roadway in the area) has seen increased growth over the past several years. This intersection is highlighted by commercial and office development. Further south, a new residential neighborhood is being developed just north of 1000 South. To the south of the area is the University Boulevard Urban Renewal District, which includes several Madison High School facilities as well as an elementary school. It also includes newer commercial development. This growth has influenced increased demand for development and infrastructure in the West Highway District area. The northwest section of the area is also adjacent to new residential development and is platted for future single-family dwellings. Commercial growth in the West Highway District area began in the early 2000’s, based on historic aerial imagery. The Valley Wide Country Store first appears in the 2003 aerial, although the building date was not available from the Madison County parcel report. In that aerial there are also several buildings shown on the northwest corner of the intersection of Highway 33 and 12th West. By 2006, other commercial buildings and professional buildings were also constructed as well as new roads south of Highway 33 to service the new development. By 2009, Madison High School was under construction and growth has continued to increase since that time. With the increased growth has come higher demands for public infrastructure such as roads and utilities. The main roadways in the area lack complete infrastructure and are, for the most part, two-lane county road sections. With the significant investment in educational facilities to the south, the need for improved bicycle and pedestrian infrastructure is critical for students to have safe routes for walking and biking. There are also several acres in the central part of the West Highway District where access points and intersection alignment need to be resolved to accommodate anticipated increases in traffic as commercial growth continues. On both the north and south of the area, Rexburg City staff indicated the need for regional lift stations to support growth as well. Each of these conditions contributes to RURA’s desire to consider a new urban renewal district. Summary of Findings: The West Highway District is estimated to generate between $43.5-68.5 million in tax increment revenues over 20 years based on the assumptions outlined in the Study Area approach. This is sufficient to fund all RURA’s priority projects and all or most of the additional potential public projects. The West Highway District Will Generate Sufficient Tax Increment Revenues to Fund the Priority Projects and Many or All of Additional Potential Public Projects. 4 Study Approach Table 1: Statutory Ten Percent Limitation Analysis Area 2025 Assessed Value Percentage of City Value City of Rexburg $2,730,223,521 2025 Adjusted Base Value Downtown $32,941,731 North Central $36,688,091 North Interchange $3,934,165 University Boulevard $8,073,270 Proposed West Highway $33,384,4301 Total Assessed Base Values $115,021,687 4.2% Private and Public Projects For this study, projects in various states of review and development were considered. Based on conversations with City staff, there are projects which have been submitted, reviewed and ready for construction. Others are in early stages of review or conversation. These projects alone don’t account for all vacant land within the Study Area. For other undeveloped lands, City staff shared their projections for land uses and densities. Based on this information, the consultant reviewed similar existing developments, calculated gross densities and applied these too vacant lands. In addition, the consultant reviewed tax records of existing townhome and single-family detached home developments and calculated average rates of owner- vs. renter-occupancy. This is important to understand as the homeowner exemption will apply to the owner-occupied units and reduce the amount of anticipated tax increment revenue. This review found approximately 10% of single-family homes are renter-occupied whereas townhomes are approximately 35% renter occupied. For organizational purposes, the Study Area was divided into 5 sub-areas. Table 2 shows a summary of the total anticipated value of private development in each sub-area, not accounting for inflation. Detailed tables and maps for each sub-area are found in Appendix A. Because there was little data available in terms of construction timelines and values, this study reviewed 4 buildout scenarios for the Study Area: 10-, 12-, 15-, and 20-years. Each scenario assumes an equal percentage of development in each sub-area will be constructed annually. For example, in the 10-year buildout, the model assumes 10% of the private projects total value will be constructed each year. Taxable value of each year’s new construction was added to the revenue columns two years after time of completion. Initial year values are based on current Madison County assessments of similar projects. Each year assumed a 3% escalation in construction costs to account for inflation. Because of the variation in revenues between the different scenarios, actual progress should be carefully reviewed and documented annually by RURA, especially due to the desire to bond for catalytic public infrastructure projects. 1 This number is $5,348,139 higher than what was reported in the eligibility study. The value for that study was derived by the consultant utilizing the Madison County GIS system. The number in this study represents certified 2025 values provided by the Madison County Assessor’s office. 5 Table 2: Private Development Projects2 Sub-Area Total Anticipated Value at Full Buildout South $186,195,000 West/Central $238,785,000 Mixed-Use Central $53,400,000 Commercial North $136,600,000 Residential North $66,875,162 Total $681,855,162 RURA staff provided a list of priority public projects. Idaho Code 50-2905 states that an urban renewal plan must include “a statement listing the kind, number, and location of all proposed public works or improvements within the revenue allocation area.” Recognizing there are more potential projects than are listed in RURA’s priority list, Table 3 below includes additional projects that may arise over the 20-year life of the district which are more general in nature, but common within developing revenue allocation areas. For the priority projects, RURA provided anticipated costs. For other projects, the numbers and timelines listed in the table should be considered placeholders, not actual costs. Costs and timelines for each project will be determined as the specific needs arise. Because timelines for the priority projects were not provided, their estimated costs to not include any escalation. 2 The numbers in this table do not assume any escalation/inflation. 6 Table 3: Public Projects and Estimated Costs Revenues, Expenses, and Cash Flow The tables in this study include reviews of anticipated revenues for the West Highway District. Those are followed by anticipated cash flows for the District. The revenues and cash flows are considered for each of the four buildout scenarios. Each table relies on assumptions regarding project timing, property valuations, and tax levies. All revenue tables for the buildout scenarios are included in Appendix B. In a review of historical tax levy and property valuation data, patterns in valuation and levy growth have changed over the past several years. 2020-2021 included two major events that have caused more dramatic annual variations in both property valuations and tax levies. First, COVID-19 influenced at least some of the rapid increase in the rise in property values as population also increased. Second, Idaho House Bill 389 (HB 389), passed in 2021, significantly Project Total Cost Widen intersection at 12th/33rd $3,500,000 Move Power Poles $120,000 Rimrock Lift Station and Pressure Sewer Line to Treatment Plant $2,500,000 US 20 Lift Station - System Enhancement for Area $1,500,000 Water and Sewer Oversizing/Depth $750,000 Emergency Services Vehicle $75,000 12th W 7th S Intersection Improvements $1,300,000 Signal North of Main $1,000,000 Move Canal-Piping Over or Relocating $1,000,000 Trail $1,600,000 Widen 12th West and Bridge $14,000,000 Total Priority Public Projects $27,345,000 Additional Utilities to Support Future Development $5,000,000 Additional Roads, Curb, Gutter, and Sidewalk to Support Future Development $5,000,000 Signage and Wayfinding $500,000 Lighting Improvements $1,000,000 Traffic Impact Studies $250,000 Public-Private Partnershipa nd Develpoment Opportunities $1,000,000 Building Demolition $500,000 Site Remediation Projects $2,000,000 Public Spaces: Plazas, Parks, Etc.$2,500,000 Property Acquisition $5,000,000 Opportuniites to Leverage Other Funding Sources $1,000,000 Easement Acquisition $500,000 Total Additional Public Projects $24,250,000 Total All Projects $51,595,000 7 impacted how cities, counties, and other taxing districts in Idaho can increase their budgets, which in turn affects levy rates. While there were three primary components of the bill, the main feature of HB 389 which is causing challenges to budgets is an 8% cap on property tax budget growth. This cap includes the standard 3% annual increase allowed by law, new construction budget capacity increases, and foregone amounts from prior years. The effect of the changes from HB 389 combined with the rise in property values during and immediately following the pandemic has been steep drops in the annual levy rate. For example, in 2020, the levy rate dropped 24% from the 2019 rate. In 2021 it increased 18% and then dropped 12% in 2022. There were corresponding steep changes in valuation as well. Values grew by 15% in in 2021 and 24% in 2022. Graphs depicting the last 7-years of changes are included on the following pages. In Rexburg, it does appear that rates and property values have stabilized, starting in 2023. Still, when calculating long-term historical averages, which adds confidence to the predictability of the model. Because there were four buildout scenarios to consider, the model used the actual 7-year average changes with the two highest variations removed. This average is an annual 7% growth in valuation and a 5% decrease in the levy. This is similar to valuation and levy changes over the last three years. The pages that follow include a summary chart comparing the revenues in each buildout scenario. The chart is followed by the total cash flow tables for each scenario. As noted above, the revenue tables are included in Appendix B. Based on discussions with RURA staff, RURA intends to seek a maximum $6 million bond as soon after the District’s creation as possible. To accomplish this goal, the cash flow model assumes the issuance of the bond in 2030 with a 15-year amortization at an assumed 5% interest rate. Annual debt service is approximately $578,000, which is paid from tax increment revenues before calculating annual surplus. After covering operating costs and debt service, remaining revenues accumulate in the cumulative fund balance column, which is assumed to be used for other future projects on a pay-as-you-go basis. Funding tranches were also added when the cumulative fund balance reaches certain thresholds, ensuring adequate reserves are maintained before project expenditures begin. The cash flow tables also assume all funds will be expended by the end of the district. The cash flow tables each have the following assumptions: 1. Total valuation is assumed to increase 7% per year. 2. Applicable tax levy is assumed to decrease 5% per year. 3. Estimated Revenues column reflects actual year revenues are received, which are based on the prior year’s taxable valuations 4. $6 million bond issued in the year at which bond conditions and assumptions are met, with a 15-year term and 5% interest rate 5. Tranches of funding for other projects issued when certain thresholds are met in the cumulative fund balance column 6. Does not account for potential Owner Participation Agreements 7. RURA will collect 10% of revenues for district administration up to a maximum of $200,000 annually 8. All funds will be expended on projects by the end of the district $2,500,000,000 $2,000,000,000 $1,500,000,000 $1,000,000,000 $500,000,000 0.008 0.007 0.006 0.005 0.004 0.003 2019 2019 2020 2020 2021 City Valuation 2021 2022 Levy Rates 2022 2023 2023 2024 2024 2025 2025 8 9 Table 4 is a list of current levy rates for the parcels in West Highway District boundaries. These reflect the 2025 certified levies as reported by the Idaho State Tax Commission. These levies are the taxable rate per $1.00 of assessed property value. Due to recent changes in the Idaho Statutes the Fire and Ambulance district levies are not accounted for. This reflects the assumption that RURA will not go through the steps now required to request the districts to opt into the District. Table 4: Current Applicable Levy Rates Taxing District Levy Rate Madison County 0.003706181 Madison County Road & Bridge 0.000492414 Rexburg City 0.003136381 Rexburg Cemetery3 0.000028475 Madison Library District 0.000461837 Madison County Mosquito Abatement 0.000205322 Total 0.008030610 3 A portion of the area is in the Burton Cemetery taxing district instead of the Rexburg Cemetery taxing district. The Burton Cemetery levy is higher than the Rexburg levy, but because the parcels within this taxing district are less than 25% of the total, only the Rexburg Cemetery levy is included in this study. Es t i m a t e d An n u a l Re v e n u e Estimated Annual Revenue by Amortization Scenario $5.0M + tA > Oo = 1 $3.0M - $2.0M $1.0M + $0.0M + fi t 10-Year Avg 12-Year Avg 15-Year Avg 20-Year Avg 10 10 11 Table 5: West Highway District 10-Year Buildout Cash Flow Year Estimated Revenues RURA Operations Bond Issued Bond Annual Debt Service Bond Principal Balance Funding Tranches Annual Balance Cumulative Fund Balance 2026 -$ -$ -$ -$ 2027 -$ -$ -$ -$ -$ 2028 16,598$ 1,660$ -$ 14,938$ 14,938$ 2029 455,908$ 45,591$ -$ 410,317$ 425,255$ 2030 894,772$ 89,477$ 6,000,000.0$ 578,054$ 5,721,946$ -$ 227,241$ 652,496$ 2031 1,333,372$ 133,337$ 578,054$ 5,429,990$ -$ 621,981$ 1,274,478$ 2032 1,771,887$ 177,189$ 578,054$ 5,123,436$ -$ 1,016,645$ 2,291,122$ 2033 2,210,496$ 200,000$ 578,054$ 4,801,554$ -$ 1,432,442$ 3,723,565$ 2034 2,649,376$ 200,000$ 578,054$ 4,463,578$ -$ 1,871,322$ 5,594,886$ 2035 3,088,704$ 200,000$ 578,054$ 4,108,703$ 3,000,000$ (689,350)$ 4,905,536$ 2036 3,528,656$ 200,000$ 578,054$ 3,736,084$ -$ 2,750,602$ 7,656,138$ 2037 3,969,408$ 200,000$ 578,054$ 3,344,835$ 3,000,000$ 191,354$ 7,847,492$ 2038 4,411,134$ 200,000$ 578,054$ 2,934,023$ 5,000,000$ (1,366,920)$ 6,480,573$ 2039 4,504,860$ 200,000$ 578,054$ 2,502,670$ -$ 3,726,806$ 10,207,379$ 2040 4,599,909$ 200,000$ 578,054$ 2,049,750$ 5,000,000$ (1,178,145)$ 9,029,234$ 2041 4,696,328$ 200,000$ 578,054$ 1,574,184$ -$ 3,918,274$ 12,947,508$ 2042 4,794,165$ 200,000$ 578,054$ 1,074,839$ 8,000,000$ (3,983,889)$ 8,963,620$ 2043 4,893,466$ 200,000$ 578,054$ 550,527$ -$ 4,115,412$ 13,079,032$ 2044 4,994,278$ 200,000$ 578,054$ 0$ 8,000,000$ (3,783,775)$ 9,295,257$ 2045 5,096,649$ 200,000$ -$ 4,896,649$ 14,191,905$ 2046 5,200,625$ 200,000$ 15,000,000$ (9,999,375)$ 4,192,530$ 2047 5,306,252$ 200,000$ 9,298,782$ (4,192,530)$ 0$ Total Tranche 56,298,782$ 12 Table 6: West Highway District 12-Year Buildout Cash Flow Year Estimated Revenues RURA Operations Bond Issued Bond Annual Debt Service Bond Principal Balance Funding Tranches Annual Balance Cumulative Fund Balance 2026 -$ -$ -$ -$ 2027 -$ -$ -$ -$ -$ 2028 16,598$ 1,660$ -$ 14,938$ 14,938$ 2029 385,377$ 38,538$ -$ 346,839$ 361,777$ 2030 753,710$ 75,371$ 6,000,000.0$ 578,054$ 5,721,946$ -$ 100,285$ 462,062$ 2031 1,121,753$ 112,175$ 578,054$ 5,429,990$ -$ 431,524$ 893,586$ 2032 1,489,660$ 148,966$ 578,054$ 5,123,436$ -$ 762,641$ 1,656,227$ 2033 1,857,584$ 185,758$ 578,054$ 4,801,554$ -$ 1,093,772$ 2,749,999$ 2034 2,225,677$ 200,000$ 578,054$ 4,463,578$ -$ 1,447,623$ 4,197,622$ 2035 2,594,090$ 200,000$ 578,054$ 4,108,703$ -$ 1,816,036$ 6,013,658$ 2036 2,962,973$ 200,000$ 578,054$ 3,736,084$ 3,000,000$ (815,081)$ 5,198,577$ 2037 3,332,477$ 200,000$ 578,054$ 3,344,835$ 3,000,000$ (445,577)$ 4,753,000$ 2038 3,702,749$ 200,000$ 578,054$ 2,934,023$ -$ 2,924,696$ 7,677,696$ 2039 4,073,940$ 200,000$ 578,054$ 2,502,670$ 5,000,000$ (1,704,114)$ 5,973,582$ 2040 4,446,197$ 200,000$ 578,054$ 2,049,750$ -$ 3,668,143$ 9,641,726$ 2041 4,539,689$ 200,000$ 578,054$ 1,574,184$ -$ 3,761,635$ 13,403,360$ 2042 4,634,542$ 200,000$ 578,054$ 1,074,839$ 8,000,000$ (4,143,512)$ 9,259,848$ 2043 4,730,802$ 200,000$ 578,054$ 550,527$ -$ 3,952,749$ 13,212,597$ 2044 4,828,516$ 200,000$ 578,054$ 0$ 8,000,000$ (3,949,537)$ 9,263,060$ 2045 4,927,730$ 200,000$ -$ 4,727,730$ 13,990,789$ 2046 5,028,488$ 200,000$ 15,000,000$ (10,171,512)$ 3,819,277$ 2047 5,130,837$ 200,000$ 8,750,113$ (3,819,276)$ 0$ Total Tranche 50,750,113$ 13 Table 7: West Highway District 15-Year Buildout Cash Flow Year Estimated Revenues RURA Operations Bond Issued Bond Annual Debt Service Bond Principal Balance Funding Tranches Annual Balance Cumulative Fund Balance 2026 -$ -$ -$ -$ 2027 -$ -$ -$ -$ -$ 2028 16,598$ 1,660$ -$ 14,938$ 14,938$ 2029 314,845$ 31,485$ -$ 283,361$ 298,299$ 2030 612,648$ 61,265$ -$ 551,383$ 849,682$ 2031 910,134$ 91,013$ 6,000,000.0$ 578,054$ 5,721,946$ -$ 241,067$ 1,090,749$ 2032 1,207,433$ 120,743$ 578,054$ 5,429,990$ -$ 508,636$ 1,599,385$ 2033 1,504,672$ 150,467$ 578,054$ 5,123,436$ -$ 776,151$ 2,375,536$ 2034 1,801,978$ 180,198$ 578,054$ 4,801,554$ -$ 1,043,726$ 3,419,263$ 2035 2,099,476$ 200,000$ 578,054$ 4,463,578$ -$ 1,321,422$ 4,740,685$ 2036 2,397,290$ 200,000$ 578,054$ 4,108,703$ -$ 1,619,236$ 6,359,921$ 2037 2,695,545$ 200,000$ 578,054$ 3,736,084$ 3,000,000$ (1,082,508)$ 5,277,413$ 2038 2,994,365$ 200,000$ 578,054$ 3,344,835$ -$ 2,216,311$ 7,493,724$ 2039 3,293,871$ 200,000$ 578,054$ 2,934,023$ 5,000,000$ (2,484,183)$ 5,009,541$ 2040 3,594,186$ 200,000$ 578,054$ 2,502,670$ -$ 2,816,132$ 7,825,673$ 2041 3,895,432$ 200,000$ 578,054$ 2,049,750$ -$ 3,117,379$ 10,943,052$ 2042 4,197,731$ 200,000$ 578,054$ 1,574,184$ 8,000,000$ (4,580,323)$ 6,362,729$ 2043 4,501,204$ 200,000$ 578,054$ 1,074,839$ -$ 3,723,150$ 10,085,879$ 2044 4,594,544$ 200,000$ 578,054$ 550,527$ 8,000,000$ (4,183,509)$ 5,902,369$ 2045 4,689,301$ 200,000$ 578,054$ 0$ -$ 3,911,247$ 9,813,617$ 2046 4,785,518$ 200,000$ 13,000,000$ (8,414,482)$ 1,399,134$ 2047 4,883,238$ 200,000$ 6,082,373$ (1,399,135)$ (0)$ Total Tranche 43,082,373$ 14 Table 8: West Highway District 20-Year Buildout Cash Flow Year Estimated Revenues RURA Operations Bond Issued Bond Annual Debt Service Bond Principal Balance Funding Tranches Annual Balance Cumulative Fund Balance 2026 -$ -$ -$ -$ 2027 -$ -$ -$ -$ -$ 2028 16,598$ 1,660$ -$ 14,938$ 14,938$ 2029 244,314$ 24,431$ -$ 219,883$ 234,821$ 2030 471,585$ 47,159$ -$ 424,427$ 659,248$ 2031 698,515$ 69,852$ -$ 628,664$ 1,287,911$ 2032 925,206$ 92,521$ 6,000,000.0$ 578,054$ 5,721,946$ -$ 254,632$ 1,542,543$ 2033 1,151,761$ 115,176$ 578,054$ 5,429,990$ -$ 458,531$ 2,001,074$ 2034 1,378,279$ 137,828$ 578,054$ 5,123,436$ -$ 662,398$ 2,663,472$ 2035 1,604,862$ 160,486$ 578,054$ 4,801,554$ -$ 866,322$ 3,529,793$ 2036 1,831,607$ 183,161$ 578,054$ 4,463,578$ -$ 1,070,393$ 4,600,186$ 2037 2,058,614$ 200,000$ 578,054$ 4,108,703$ -$ 1,280,561$ 5,880,747$ 2038 2,285,980$ 200,000$ 578,054$ 3,736,084$ -$ 1,507,926$ 7,388,673$ 2039 2,513,801$ 200,000$ 578,054$ 3,344,835$ 5,000,000$ (3,264,252)$ 4,124,421$ 2040 2,742,175$ 200,000$ 578,054$ 2,934,023$ -$ 1,964,121$ 6,088,542$ 2041 2,971,197$ 200,000$ 578,054$ 2,502,670$ -$ 2,193,143$ 8,281,685$ 2042 3,200,962$ 200,000$ 578,054$ 2,049,750$ -$ 2,422,908$ 10,704,593$ 2043 3,431,565$ 200,000$ 578,054$ 1,574,184$ 8,000,000$ (5,346,489)$ 5,358,105$ 2044 3,663,102$ 200,000$ 578,054$ 1,074,839$ -$ 2,885,048$ 8,243,153$ 2045 3,895,666$ 200,000$ 578,054$ 550,527$ -$ 3,117,613$ 11,360,765$ 2046 4,129,353$ 200,000$ 578,054$ 0$ 14,500,000$ (11,148,701)$ 212,064$ 2047 4,364,256$ 200,000$ 4,376,320$ (212,064)$ 0$ Total Tranch 31,876,320$ 15 Cash Flow Analysis Depending on the buildout scenario, the district is anticipated to generated between approximately $43.5-68.5 million in tax increment revenues. The total of RURA’s priority projects is $27.3 million and the total of all potential public improvement costs is anticipated to be approximately $51.6 million. In any of the buildout scenarios, there will be sufficient funds for the priority projects and there should be sufficient funds for most or all potential projects, except in the 20-year buildout. Each of the scenarios also produces sufficient revenues to pay off the 15-year bond. The 20-year buildout doesn’t pay off the bond until 2045 if only minimum payments are made. These figures are dependent on the assumptions made in the revenue and cash flow models as explained above. RURA should evaluate actual growth and revenues on an annual basis and make any necessary adjustments. It should be noted that this is just one of many potential scenarios. For example, RURA may decide to enter into an Owner Participation Agreement with a developer which will affect the funding tranches and, potentially, bonding capacity in the early years of the district. Limitations to the Feasibility Study This study is based on information provided by the RURA, City of Rexburg, Madison County, and local developers. Any projects, revenues or expenses within this study may be modified by changes in estimated construction schedules, including project completion dates, the economy of the Rexburg region, significant changes in the tax levies, and revisions to applicable legislation. The total project costs and potential tax increment revenues are estimates. Additionally, this report is intended to provide additional transparency into the proposed projected revenues and expenses for the duration of the Project Area. It is not intended to be an exhaustive list of proposed projects or potential development opportunities. 16 Appendix A Detailed Development and Revenue Projections In the tables below, Medium Density Residential assumed 9 units per gross acre. Low Density Residential assumed 4 units per gross acre Sub Area: South 17 Parcel #Size Use Potential Units* Estimated Rental Estimated Owner Estimated Total Value Per Unit Estimated Per Unit Value w/Homeowner Exemption Estimated Total Rental Value Estimated Total Owner Value Total Estimated Value Area: South RPR6N39E253600 12.0 Charter School NA NA NA RPRXBCA0254202 25.9 Med Density 233 82 151 $310,000 $185,000 $25,420,000 $27,935,000 $53,355,000 RPR6N39E253601 13.8 Med Density 124 43 81 $310,000 $185,000 $13,330,000 $14,985,000 $28,315,000 RPRXBCA0254818 15.2 Low Density 61 6 55 $375,000 $250,000 $2,250,000 $13,750,000 $16,000,000 RPRXBCA0255412 2.2 Low Density 9 1 8 $375,000 $250,000 $375,000 $2,000,000 $2,375,000 RPRXBCA0255411 2.2 Low Density 9 1 8 $375,000 $250,000 $375,000 $2,000,000 $2,375,000 RPR6N39E252900 0.9 Low Density 4 0 4 $375,000 $250,000 $0 $1,000,000 $1,000,000 RPRXBCA0255797 10.2 Low Density 41 4 37 $375,000 $250,000 $1,500,000 $9,250,000 $10,750,000 RPR6N39E269004 35.0 Med Density 315 110 205 $310,000 $185,000 $34,100,000 $37,925,000 $72,025,000 117.4 484 169 315 Total $186,195,000 Sub Area: West/Central 388.76 ft 1035.21-tt 533.33-ft 390.73 ft 555. 54ift 1269) 56i tt SSA OA Tt: 565.29°Ft aa W*1 000! —446:44'tt 1 P sl = Hite Ue exten =e. (C 10 18 18 Sub Area: West/Central 19 Parcel #Size Use Potential Units* Estimated Rental Estimated Owner Estimated Total Value Per Unit Estimated Per Unit Value w/Homeowner Exemption Estimated Total Rental Value Estimated Total Owner Value Total Estimated Value Area: West/Central RPR6N39E264800 53.8 8.1 Med Density 73 26 47 $310,000 $185,000 $8,060,000 $8,695,000 $16,755,000 45.7 Low Density 183 18 165 $375,000 $250,000 $6,750,000 $41,250,000 $48,000,000 RPRXBCA0263070 74.5 11.2 Med Density 101 35 66 $310,000 $185,000 $10,850,000 $12,210,000 $23,060,000 63.3 Low Density 253 25 228 $375,000 $250,000 $9,375,000 $57,000,000 $66,375,000 RP06N39E261802 33.2 5.0 Med Density 45 16 29 $310,000 $185,000 $4,960,000 $5,365,000 $10,325,000 28.2 Low Density 113 11 102 $375,000 $250,000 $4,125,000 $25,500,000 $29,625,000 RP06N39E260680 8.7 1.3 Med Density 12 4 8 $310,000 $185,000 $1,240,000 $1,480,000 $2,720,000 7.4 Low Density 30 3 27 $375,000 $250,000 $1,125,000 $6,750,000 $7,875,000 RP06N39E260918 17.6 2.6 Med Density 24 8 16 $310,000 $185,000 $2,480,000 $2,960,000 $5,440,000 15.0 Low Density 60 6 54 $375,000 $250,000 $2,250,000 $13,500,000 $15,750,000 RP06N39E260612 6.2 Med Density 56 20 36 $310,000 $185,000 $6,200,000 $6,660,000 $12,860,000 Total Value $238,785,000 Sub-Area: Mixed-Use Central x: 4 ps AS) = @ Summers Dr_ 20 Sub-Area: Mixed-Use Central x: 4 ps AS) = @ Summers Dr_ 20 20 Sub-Area: Mixed-Use Central 21 Parcel #Size Use Potential Units* Estimated Rental Estimated Owner Estimated Total Value Per Unit Estimated Per Unit Value w/Homeowner Exemption Estimated Total Rental Value Estimated Total Owner Value Total Estimated Value Area: Mixed-Use Central RP06N39E260612 4.1 Med Density 36 13 23 $310,000 $185,000 $4,030,000 $4,255,000 $8,285,000 RP06N39E260661 9.5 Med Density 86 30 56 $310,000 $185,000 $9,300,000 $10,360,000 $19,660,000 Trappers Creek Townhomes 6.9 Med Density 38 13 25 $310,000 $185,000 $4,030,000 $4,625,000 $8,655,000 Trappers Creek 4- plex 4.9 Med Density Apt 20 20 $480,000 $9,600,000 $9,600,000 Trappers Creek Commercial 8.0 Commercial 9 9 $800,000 $7,200,000 $7,200,000 RPR4TL20050010 4.3 Commercial 5 5 $800,000 $4,000,000 $4,000,000 Total Value $53,400,000 22 SS | 8 ee Sa w t e l l e y A v e l | mo BG . 1 Sub-Area Commercial North 22 SS | 8 ee Sa w t e l l e y A v e l | mo BG . 1 Sub-Area Commercial North 22 Sub-Area: Commercial North 23 Parcel #Size Use Potential Units* Estimated Rental Estimated Owner Estimated Total Value Per Unit Estimated Per Unit Value w/Homeowner Exemption Estimated Total Rental Value Estimated Total Owner Value Total Estimated Value Area: Commercial North RP06N39E244222 51.6 28.6 Commercial 36 $800,000 $28,800,000 3 Hotel $7,000,000 $7,000,000 20 Med Density Apt 40 40 $480,000 $19,200,000 RPR6N39E244805 27.8 Commercial 35 $800,000 $28,000,000 RPR6N39E246010 5.8 Commercial 7 $800,000 $5,600,000 RPR6N39E245529 15.7 Commercial 20 $800,000 $16,000,000 RPR6N39E246001 17.0 Commercial 21 $800,000 $16,800,000 RP06N39E246295 2.5 Commercial 3 $800,000 $2,400,000 RP06N39E246223 2.5 Commercial 3 $800,000 $2,400,000 Rexburg West 10.5 Commercial 13 $800,000 $10,400,000 Total Value $136,600,000 . ‘A 5 fRobison: Dr “i ra ae Ye eRe | “ah Sub-Area: Residential North “yf L ct 24 . ‘A 5 fRobison: Dr “i ra ae Ye eRe | “ah Sub-Area: Residential North “yf L ct 24 24 Sub-Area: Residential North 25 Parcel #Size Use Potential Units* Estimated Rental Estimated Owner Estimated Total Value Per Unit Estimated Per Unit Value w/Homeowner Exemption Estimated Total Rental Value Estimated Total Owner Value Total Estimated Value Area: Residential North RP06N39E141000 33.87 Low Density 93 9 84 $375,000 $250,000 $3,375,000 $21,000,000 $24,375,000 Adara at Teton Lakes 59 Low Desnity 162 16 146 $375,001 $250,001 $6,000,016 $36,500,146 $42,500,162 Total Value $66,875,162 26 Appendix B: District Revenue Tables Each table has the following assumptions: 1. Total valuation is assumed to increase 7% per year. 2. Applicable tax levy is assumed to decrease 5% per year. 3. Base value remains unchanged 4. Revenues in the Estimated Revenue column are received in the year following the calendar year identified in the Year column 5. Project area will be approved by the end of 2026 Table B1: 10-Year Buildout Revenues Year Base Value Total Estimated Valuation Increment Value Applicable Levy Rate Estimated Annual Revenue 2026 36,384,430$ 36,384,430$ -$ 0.006842562 -$ 2027 36,384,430$ 38,931,340$ 2,546,910$ 0.006516726 16,598$ 2028 36,384,430$ 109,842,050$ 73,457,620$ 0.006206405 455,908$ 2029 36,384,430$ 187,762,075$ 151,377,645$ 0.005910862 894,772$ 2030 36,384,430$ 273,243,435$ 236,859,005$ 0.005629393 1,333,372$ 2031 36,384,430$ 366,878,630$ 330,494,200$ 0.005361326 1,771,887$ 2032 36,384,430$ 469,303,533$ 432,919,103$ 0.005106025 2,210,496$ 2033 36,384,430$ 581,200,481$ 544,816,051$ 0.004862881 2,649,376$ 2034 36,384,430$ 703,301,587$ 666,917,157$ 0.004631315 3,088,704$ 2035 36,384,430$ 836,392,283$ 800,007,853$ 0.004410776 3,528,656$ 2036 36,384,430$ 981,315,115$ 944,930,685$ 0.004200739 3,969,408$ 2037 36,384,430$ 1,138,973,806$ 1,102,589,376$ 0.004000704 4,411,134$ 2038 36,384,430$ 1,218,701,972$ 1,182,317,542$ 0.003810195 4,504,860$ 2039 36,384,430$ 1,304,011,110$ 1,267,626,680$ 0.003628757 4,599,909$ 2040 36,384,430$ 1,395,291,888$ 1,358,907,458$ 0.003455959 4,696,328$ 2041 36,384,430$ 1,492,962,320$ 1,456,577,890$ 0.003291389 4,794,165$ 2042 36,384,430$ 1,597,469,682$ 1,561,085,252$ 0.003134656 4,893,466$ 2043 36,384,430$ 1,709,292,560$ 1,672,908,130$ 0.002985387 4,994,278$ 2044 36,384,430$ 1,828,943,039$ 1,792,558,609$ 0.002843226 5,096,649$ 2045 36,384,430$ 1,956,969,052$ 1,920,584,622$ 0.002707834 5,200,625$ 2046 36,384,430$ 2,093,956,886$ 2,057,572,456$ 0.00257889 5,306,252$ Total Rev 68,416,842$ 27 Table B2: 12-Year Buildout Revenues Year Base Value Total Estimated Valuation Increment Value Applicable Levy Rate Estimated Annual Revenue 2026 36,384,430$ 36,384,430$ -$ 0.006842562 -$ 2027 36,384,430$ 38,931,340$ 2,546,910$ 0.006516726 16,598$ 2028 36,384,430$ 98,477,797$ 62,093,367$ 0.006206405 385,377$ 2029 36,384,430$ 163,897,145$ 127,512,715$ 0.005910862 753,710$ 2030 36,384,430$ 235,651,624$ 199,267,194$ 0.005629393 1,121,753$ 2031 36,384,430$ 314,237,367$ 277,852,937$ 0.005361326 1,489,660$ 2032 36,384,430$ 400,186,816$ 363,802,386$ 0.005106025 1,857,584$ 2033 36,384,430$ 494,071,312$ 457,686,882$ 0.004862881 2,225,677$ 2034 36,384,430$ 596,503,864$ 560,119,434$ 0.004631315 2,594,090$ 2035 36,384,430$ 708,142,122$ 671,757,692$ 0.004410776 2,962,973$ 2036 36,384,430$ 829,691,548$ 793,307,118$ 0.004200739 3,332,477$ 2037 36,384,430$ 961,908,818$ 925,524,388$ 0.004000704 3,702,749$ 2038 36,384,430$ 1,105,605,463$ 1,069,221,033$ 0.003810195 4,073,940$ 2039 36,384,430$ 1,261,651,763$ 1,225,267,333$ 0.003628757 4,446,197$ 2040 36,384,430$ 1,349,967,387$ 1,313,582,957$ 0.003455959 4,539,689$ 2041 36,384,430$ 1,444,465,104$ 1,408,080,674$ 0.003291389 4,634,542$ 2042 36,384,430$ 1,545,577,661$ 1,509,193,231$ 0.003134656 4,730,802$ 2043 36,384,430$ 1,653,768,097$ 1,617,383,667$ 0.002985387 4,828,516$ 2044 36,384,430$ 1,769,531,864$ 1,733,147,434$ 0.002843226 4,927,730$ 2045 36,384,430$ 1,893,399,095$ 1,857,014,665$ 0.002707834 5,028,488$ 2046 36,384,430$ 2,025,937,031$ 1,989,552,601$ 0.00257889 5,130,837$ Total Rev 62,783,388$ 28 Table B3: 15-Year Buildout Revenues Year Base Value Total Estimated Valuation Increment Value Applicable Levy Rate Estimated Annual Revenue 2026 36,384,430$ 36,384,430$ -$ 0.006842562 -$ 2027 36,384,430$ 38,931,340$ 2,546,910$ 0.006516726 16,598$ 2028 36,384,430$ 87,113,545$ 50,729,115$ 0.006206405 314,845$ 2029 36,384,430$ 140,032,213$ 103,647,783$ 0.005910862 612,648$ 2030 36,384,430$ 198,059,810$ 161,675,380$ 0.005629393 910,134$ 2031 36,384,430$ 261,596,099$ 225,211,669$ 0.005361326 1,207,433$ 2032 36,384,430$ 331,070,091$ 294,685,661$ 0.005106025 1,504,672$ 2033 36,384,430$ 406,942,131$ 370,557,701$ 0.004862881 1,801,978$ 2034 36,384,430$ 489,706,127$ 453,321,697$ 0.004631315 2,099,476$ 2035 36,384,430$ 579,891,944$ 543,507,514$ 0.004410776 2,397,290$ 2036 36,384,430$ 678,067,961$ 641,683,531$ 0.004200739 2,695,545$ 2037 36,384,430$ 784,843,806$ 748,459,376$ 0.004000704 2,994,365$ 2038 36,384,430$ 900,873,292$ 864,488,862$ 0.003810195 3,293,871$ 2039 36,384,430$ 1,026,857,556$ 990,473,126$ 0.003628757 3,594,186$ 2040 36,384,430$ 1,163,548,411$ 1,127,163,981$ 0.003455959 3,895,432$ 2041 36,384,430$ 1,311,751,952$ 1,275,367,522$ 0.003291389 4,197,731$ 2042 36,384,430$ 1,472,332,395$ 1,435,947,965$ 0.003134656 4,501,204$ 2043 36,384,430$ 1,575,395,662$ 1,539,011,232$ 0.002985387 4,594,544$ 2044 36,384,430$ 1,685,673,359$ 1,649,288,929$ 0.002843226 4,689,301$ 2045 36,384,430$ 1,803,670,494$ 1,767,286,064$ 0.002707834 4,785,518$ 2046 36,384,430$ 1,929,927,429$ 1,893,542,999$ 0.00257889 4,883,238$ Total Rev 54,990,009$ 29 Table B4: 20-Year Buildout Revenues Year Base Value Total Estimated Valuation Increment Value Applicable Levy Rate Estimated Annual Revenue 2026 36,384,430$ 36,384,430$ -$ 0.006842562 -$ 2027 36,384,430$ 38,931,340$ 2,546,910$ 0.006516726 16,598$ 2028 36,384,430$ 75,749,292$ 39,364,862$ 0.006206405 244,314$ 2029 36,384,430$ 116,167,283$ 79,782,853$ 0.005910862 471,585$ 2030 36,384,430$ 160,468,000$ 124,083,570$ 0.005629393 698,515$ 2031 36,384,430$ 208,954,837$ 172,570,407$ 0.005361326 925,206$ 2032 36,384,430$ 261,953,375$ 225,568,945$ 0.005106025 1,151,761$ 2033 36,384,430$ 319,812,962$ 283,428,532$ 0.004862881 1,378,279$ 2034 36,384,430$ 382,908,405$ 346,523,975$ 0.004631315 1,604,862$ 2035 36,384,430$ 451,641,786$ 415,257,356$ 0.004410776 1,831,607$ 2036 36,384,430$ 526,444,397$ 490,059,967$ 0.004200739 2,058,614$ 2037 36,384,430$ 607,778,821$ 571,394,391$ 0.004000704 2,285,980$ 2038 36,384,430$ 696,141,154$ 659,756,724$ 0.003810195 2,513,801$ 2039 36,384,430$ 792,063,385$ 755,678,955$ 0.003628757 2,742,175$ 2040 36,384,430$ 896,115,943$ 859,731,513$ 0.003455959 2,971,197$ 2041 36,384,430$ 1,008,910,424$ 972,525,994$ 0.003291389 3,200,962$ 2042 36,384,430$ 1,131,102,509$ 1,094,718,079$ 0.003134656 3,431,565$ 2043 36,384,430$ 1,263,395,090$ 1,227,010,660$ 0.002985387 3,663,102$ 2044 36,384,430$ 1,406,541,615$ 1,370,157,185$ 0.002843226 3,895,666$ 2045 36,384,430$ 1,561,349,662$ 1,524,965,232$ 0.002707834 4,129,353$ 2046 36,384,430$ 1,728,684,777$ 1,692,300,347$ 0.00257889 4,364,256$ Total Rev 43,579,399$ Attachment 6 Agricultural Operation Consents [Documents will be inserted upon finalization and receipt] Attachment 6 Agricultural Operation Consents ['XHWR6L]H([KLELWV%DQG&ZLOORQO\EHDWWDFKHGWRWKH)LUVW$JULFXOWXUDO2SHUDWLRQ&RQVHQW)RUP] EXHIBIT B EXCERPTS OF STATUTES IDAHO CODE §§ 50-2018(8) AND (9) (8) "Deteriorated area" shall mean an area in which there is a predominance of buildings or improvements, whether residential or nonresidential, which by reason of dilapidation, deterioration, age or obsolescence, inadequate provision for ventilation, light, air, sanitation, or open spaces, high density of population and overcrowding, or the existence of conditions which endanger life or property by fire and other causes, or any combination of such factors is conducive to ill health, transmission of disease, infant mortality, juvenile delinquency, or crime, and is detrimental to the public health, safety, morals or welfare. Provided however, this definition shall not apply to any agricultural operation, as defined in section 22-4502(2), Idaho Code, absent the consent of the owner of the agricultural operation or to any forest land as defined in section 63-1701(4), Idaho Code, absent the consent of the forest landowner, as defined in section 63-1701(5), Idaho Code, except for an agricultural operation or forest land that has not been used for three (3) consecutive years. (9) "Deteriorating area" shall mean an area which by reason of the presence of a substantial number of deteriorated or deteriorating structures, predominance of defective or inadequate street layout, faulty lot layout in relation to size, adequacy, accessibility or usefulness, insanitary or unsafe conditions, deterioration of site or other improvements, diversity of ownership, tax or special assessment delinquency exceeding the fair value of the land, defective or unusual conditions of title, or the existence of conditions which endanger life or property by fire and other causes, or any combination of such factors, substantially impairs or arrests the sound growth of a municipality, retards the provision of housing accommodations or constitutes an economic or social liability and is a menace to the public health, safety, morals or welfare in its present condition and use; provided, that if such deteriorating area consists of open land the conditions contained in the proviso in section 50-2008(d), Idaho Code, shall apply; and provided further, that any disaster area referred to in section 50-2008(g), Idaho Code, shall constitute a deteriorating area. Provided however, this definition shall not apply to any agricultural operation, as defined in section 22-4502(2), Idaho Code, absent the consent of the owner of the agricultural operation or to any forest land as defined in section 63-1701(4), Idaho Code, absent the consent of the forest landowner, as defined in section 63-1701(5), Idaho Code, except for an agricultural operation or forest land that has not been used for three (3) consecutive years. IDAHO CODE § 50-2008 50-2008. Preparation and approval of plan for urban renewal project. (a) 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. (b) An urban renewal agency may itself prepare or cause to be prepared an urban renewal plan, or any person or agency, public or private, may submit such a plan to an urban renewal agency. Prior to its approval of an urban renewal project, the local governing body shall submit such plan to the planning commission of the municipality, if any, for review and recommendations as to its conformity with the general plan for the development of the municipality as a whole. The planning commission shall submit its written recommendations with respect to the proposed urban renewal plan to the local governing body within sixty (60) days after receipt of the plan for review. Upon receipt of the recommendations of the planning commission, or if no recommendations are received within said sixty (60) days, then without such recommendations, the local governing body may proceed with the hearing on the proposed urban renewal project prescribed by subsection (c) hereof. (c) The local governing body shall hold a public hearing on an urban renewal project, after public notice thereof by publication in a newspaper having a general circulation in the area of operation of the municipality. The notice shall describe the time, date, place and purpose of the hearing, shall generally identify the urban renewal area covered by the plan, and shall outline the general scope of the urban renewal project under consideration. (d) Following such hearing, the local governing body may approve an urban renewal project and the plan therefor if it finds that (1) a feasible method exists for the location of families who will be displaced from the urban renewal area in decent, safe and sanitary dwelling accommodations within their means and without undue hardship to such families; (2) the urban renewal plan conforms to the general plan of the municipality as a whole; (3) the urban renewal plan gives 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 residing in the general vicinity of the site covered by the plan; and (4) the urban renewal plan will afford maximum opportunity, consistent with the sound needs of the municipality as a whole, for the rehabilitation or redevelopment of the urban renewal area by private enterprise: Provided, that if the urban renewal area consists of an area of open land to be acquired by the urban renewal agency, such area shall not be so acquired unless (1) if it is to be developed for residential uses, the local governing body shall determine that a shortage of housing of sound standards and design which is decent, safe and sanitary exists in the municipality; that the need for housing accommodations has been or will be increased as a result of the clearance of slums in other areas; that the conditions of blight in the area and the shortage of decent, safe and sanitary housing cause or contribute to an increase in and spread of disease and crime and constitute a 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 municipality, or (2) if it is to be developed for nonresidential uses, the local governing body shall determine that such nonresidential uses are necessary and appropriate to facilitate the proper growth and development of the community in accordance with sound planning standards and local community objectives, which acquisition may require the exercise of governmental action, as provided in this act, because of defective or unusual conditions of title, diversity of ownership, tax delinquency, improper subdivisions, outmoded street patterns, deterioration of site, economic disuse, unsuitable topography or faulty lot layouts, 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. (e) An urban renewal plan may be modified at any time: Provided that if modified after the lease or sale by the urban renewal agency of real property in the urban renewal project area, such modification may be conditioned upon such approval of the owner, lessee or successor in interest as the urban renewal agency may deem advisable and in any event shall be subject to such rights at law or in equity as a lessee or purchaser, or his successor or successors in interest, may be entitled to assert. (f) Upon the approval by the local governing body of an urban renewal plan or of any modification thereof, such plan or modification shall be deemed to be in full force and effect for the respective urban renewal area, and the urban renewal agency may then cause such plan or modification to be carried out in accordance with its terms. (g) Notwithstanding any other provisions of this act, where the local governing body certifies that an area is in need of redevelopment or rehabilitation as a result of a flood, fire, hurricane, earthquake, storm, or other catastrophe respecting which the governor of the state has certified the need for disaster assistance under 42 U.S.C. section 5121, or other federal law, the local governing body may approve an urban renewal plan and an urban renewal project with respect to such area without regard to the provisions of subsection (d) of this section and the provisions of this section requiring a general plan for the municipality and a public hearing on the urban renewal project. (h) Any urban renewal plan containing a revenue allocation financing provision shall include the information set forth in section 50-2905, Idaho Code. IDAHO CODE § 50-2903(8) (8) "Deteriorated area" means: (a) Any area, including a slum area, in which there is a predominance of buildings or improvements, whether residential or nonresidential, which by reason of dilapidation, deterioration, age or obsolescence, inadequate provision for ventilation, light, air, sanitation, or open spaces, high density of population and overcrowding, or the existence of conditions that endanger life or property by fire and other causes, or any combination of such factors, is conducive to ill health, transmission of disease, infant mortality, juvenile delinquency, or crime, and is detrimental to the public health, safety, morals or welfare. (b) Any area which by reason of the presence of a substantial number of deteriorated or deteriorating structures, predominance of defective or inadequate street layout, faulty lot layout in relation to size, adequacy, accessibility or usefulness, insanitary or unsafe conditions, deterioration of site or other improvements, diversity of ownership, tax or special assessment delinquency exceeding the fair value of the land, defective or unusual conditions of title, or the existence of conditions that endanger life or property by fire and other causes, or any combination of such factors, results in economic underdevelopment of the area, substantially impairs or arrests the sound growth of a municipality, retards the provision of housing accommodations or constitutes an economic or social liability and is a menace to the public health, safety, morals or welfare in its present condition and use. (c) 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. (d) Any area which the local governing body certifies is in need of redevelopment or rehabilitation as a result of a flood, storm, earthquake, or other natural disaster or catastrophe respecting which the governor of the state has certified the need for disaster assistance under any federal law. (e) Any area which by reason of its proximity to the border of an adjacent state is competitively disadvantaged in its ability to attract private investment, business or commercial development which would promote the purposes of this chapter. (f) Deteriorated area does not mean not developed beyond agricultural, or any agricultural operation as defined in section 22-4502(1), Idaho Code, or any forest land as defined in section 63-1701(4), Idaho Code, unless the owner of the agricultural operation or the forest landowner of the forest land gives written consent to be included in the deteriorated area, except for an agricultural operation or forest land that has not been used for three (3) consecutive years. ELIGIBILITY REPORT PREPARED BY Brad Cramer, MPA, AICP Perspective Planning & Consulting LLC ELIGIBILITY REPORT PREPARED BY Brad Cramer, MPA, AICP Perspective Planning & Consulting LLC Contents EXECUTIVE SUMMARY BACKGROUND INFORMATION SUMMARY OF THE STUDY AREA CURRENT CONDITIONS IN THE STUDY AREA FINDINGS CONCLUSION APPENDIX A: Additional Site Photos APPENDIX B: Steps to Creating an Urban Renewal District APPENDIX C: Open Lands Analysis LAYOUT DESIGN BY Madison Ronneburg, Graphic Designer Povey Design Co. LLC. POVEY DESIGN CO. Study Area Boundaries Executive Summary This report is a review of approximately 840 acres generally bounded by 1000 South on the southern end, US Highway 20 on the east, 3000 West on the western side, 2000 North on the northern boundary to determine if it is eligible for designation as an Urban Renewal Area (URA) and appropriate for an urban renewal project under the Idaho Urban Renewal Law of 1965 and Local Economic Development Act, which are described in more detail in Appendix B. For purposes of this report, the area under consideration will be referred to as the Study Area. It includes areas both in private ownership as well as lands owned by the City of Rexburg and Madison County. The Study Area boundaries are shown on Map 1. The Idaho Urban Renewal Law of 1965, which comprises Chapter 20, Title 50 as 01 amended and the Local Economic Statutory criteria. The review of the Study Development Act, comprising Chapter Area determined that it meets at least one 29, Title 50 of Idaho Code as amended, of the criteria and is, therefore, eligible to outline the statutory criteria for be an urban renewal project. A summary determining whether an area is eligible of the criteria and whether they are met is to be designated as a URA. To be included below in Table 1. The full analysis eligible, a site must be determined to be of each criterion is included in the main a deteriorating and/or deteriorated area body of the report. by meeting at least one of these TABLE 1 Summary of Findings Substantial Deterioration Most existing development is older residential of Site & homes, which are still in good condition. The site is also in generally good condition. Age or Obsolescence Commercial development is newer and residential homes are still functional and in good condition. There are issues with a misaligned intersection, and extreme challenges with widening 12th West. Predominance of Defective Street Layout or Inadequate Street Layout Too many access points create slower speeds than designed. Lack of bicycle and pedestrian infrastructure is not reflective of development patterns in the Study Area. Outmoded Street Patterns Need for Correlation of Area The main intersection of the Study Area, Hwy 33 with Other Areas of by Streets and 12th West, is misaligned and very difficult to and Modern Traffic ; correct and widen due to lack of right-of-way. This Requirements is the main connection to Rexburg to the east. Areas with existing housing would require platting Faulty Lot Layout t to establish developable lots. Unsuitable Topography Study Area is generally flat and challenges to development due to topography are limited. Too many access points along arterials creates unsafe traffic conditions. Lack of bicycle and pedestrian infrastructure on arterials is also unsafe. Insanitary or Unsafe Conditions TABLE 1 Summary of Findings Continued Diversity of Ownership | The area northwest of the Hwy 33 and 12th | : West intersection has multiple owners that make redevelopment challenging. Ownership along the arterials is diverse, making road widening difficult. Tax or Special Assessment Delinquency Not reviewed. Defective or Unusual Conditions of Title Not reviewed. oo Existence of Conditions Which : Lack of bicycle and pedestrian infrastructure on Endanger Life or Property | | arterials endangers life. Too many access points on arterials, especially near the curve in Hwy 33 creates overlapping points of conflict. Major infrastructure in the Study Area is required to support development both within and without the boundaries. There are major challenges to constructing these necessary components. Impairs or Arrests the Sound =| f | Growth of a Municipality . | Retards Development J, | The challenges to development have or will slow of the Area | < | growth due to extreme costs and lack of opportunity | for cost sharing. Economic Underdevelopment and Economic Disuse See above. cod COMMERCIAL DEVELOPMENT Le Za eats AT HWY 33 AND 12TH WEST 03 DEVELOPABLE AREA NORTH OF HWY 33 Background information The Rexburg Urban Renewal Agency (RURA) is the urban renewal agency of the City of Rexburg. RURA was created on November 6, 1991, for the purpose of eliminating blight and deteriorating conditions in the City of Rexburg. RURA currently manages four Urban Renewal Districts. The Mayor, with the confirmation of the City Council, has appointed seven individuals to the RURA Board: Scott Miller serves as the Administrator of RURA, Leslie Giles is the Assistant Administrator and Matt Nielson serves as Treasurer. Meghan Conrad with Elam and Burke is legal counsel for RURA. Brad Cramer with Perspective Planning and Consulting has been engaged to prepare an eligibility report to determine if the Study Area meets the criteria for consideration as an Urban Renewal Area (URA). Additional information on Idaho’s urban renewal program is included in Appendix B. LOOKING WEST FROM HIDEOUT STREET 04 Urban Renewal Background Information In response to federal programs funding redevelopment of “blighted” urban areas in the mid-twentieth century, Idaho passed the Idaho Urban Renewal Law of 1965. The law authorized Idaho Municipalities to identify deteriorating areas within their communities and to use federal grant monies to improve and, if necessary, redevelop these areas. Support for such federal expenditures dissipated and eventually ended in the early 1970’s. With the loss of federal support, states needed another tool to assist cities to redevelop deteriorating areas and to participate in the economic vitality of their communities. Idaho cities have a significant financial challenge in responding to the infrastructure demands of growth along with the on-going need to maintain the existing physical plant in good repair. Idaho cities face stringent constitutional limitations and near total dependence upon state legislative action to provide funding. An Idaho city’s access to funding sources and the ability to employ effective financing mechanisms such as general obligation bonding severely constrain capital investment strategies. DEVELOPABLE AREA NORTH OF HWY 33 Tools available to cities in Idaho Code Title 50, Chapters 20 and 29, the Urban Renewal Law of 1965 and the Local Economic Development Act, respectively, are some of the few available to assist communities in their efforts to support economic vitality. New sources of State support, such as Community Infrastructure Districts (CIDs) are available but still largely untested, thus RURA’s on-going interest in exploring the potential for establishing additional urban renewal/revenue allocation areas is appropriate. The purpose of this report is to determine if the Study Area meets the criteria outlined in Idaho statutes, Idaho Code Sections 50-2018(8), (9), and 50-2903(8), for a URA. This report is the first step to assist the Rexburg City Council determine if there is a need for creating a URA in a portion or all of the Study Area. To be eligible for the creation of a URA, the Study Area must have at least one of the statutory characteristics present. Determining that an area is eligible, however, does not obligate RURA or City Council to proceed with the creation of a URA. A full description of the steps in creating a URA and Revenue Allocation Area (RAA) is included in Appendix B. 05 2003 Aerial Summary of the Study Area The Study Area includes approximately 400 parcels and 840 acres. It is bounded by 1000 South on the southern end, US Highway 20 on the east, 3000 West on the western side, 2000 North on the northern boundary. Not all of the Study Area is currently annexed into the City of Rexburg. Approximately 200 acres, or 23% remains in Madison County, although most of these lands are within the Area of City Impact. Most of the Study Area is undeveloped, although the central area at the intersection of Highway 33 and 12th West (the main north/south roadway in the Study Area) has seen increased growth over the past several years. This intersection is highlighted by commercial and office development. Further south a new residential neighborhood is being 06 developed just north of 1000 South. To the south of the Study Area is the University Boulevard Urban Renewal District, which includes several Madison High School facilities as well as an elementary school. It also includes newer commercial development. This growth has influenced increased demand for development and infrastructure in the Study Area. The northwest section of the Study Area is also adjacent to new residential development and is platted for future single-family dwellings. Commercial growth in the Study Area began in the early 2000's, based on historic aerial imagery. The Valley Wide Country Store first appears in the 2003 aerial, although the building date was not available from the Madison County parcel report. In that aerial there are also several buildings shown on the northwest corner of the intersection of Highway 33 and 12th West. Map 2 shows the Study Area in 2003. By 2006, other commercial and professional buildings were also constructed as well as new roads south of Highway 33 to service the new DEVELOPABLE FIELD SOUTH OF SUMMERFIELD LANE development. By 2009, Madison High School was under construction and growth has continued to increase since that time. With the increased growth has come higher demands on public infrastructure such as roads and utilities. The main roadways in the Study Area lack complete infrastructure and are, for the most part, two-lane county road sections. With the significant investment in educational facilities to the south, the need for improved bicycle and pedestrian infrastructure is critical for students to have save routes for alternative modes of transportation. There are also several areas in the central part of the Study Area were access points and intersection alignment need to be resolved to accommodate anticipated increases in traffic as commercial growth continues. On both the north and south of the Study | Area, Rexburg City staff indicated the | need for regional lift stations to support growth as well. Each of these conditions contributes to RURA’s desire to consider a new urban renewal district. DEVELOPABLE FIELD WEST OF SUMMERFIELD LANE 07 Bo) stele ¢-) 9) ah, = 1480m = 1.474m = Wiest 1469 m iy 3 ba i = a 1465 m Current Conditions In The Study Area Map 3 shows the topography of the Study Area. In general, topography maps available online show the Study Area to be relatively flat with no major changes in elevation that would pose a significant challenge to development. Likewise, USDA's Natural Resources Conservation Service (NRCS) soil maps (shown on Map 4) show the area is predominately Labenzo Silt Loam, which does not present significant limitations to development. There are several portions of the Study Area, especially those near the Teton River and golf course, which are more prone to flooding and have a higher water table. There are also some areas along US 20 and just north of Highway 33 which are within FEMA flood zone AE, or 100-year flood zone. Although this does not mean development is impossible, it will require additional remediation and coordination with appropriate entities. 08 NRCS Soil Map Study Area Annis Silty Clay Loam Bannock Loam Blackfoot Silt Loam Haplaquolis Channeled Although most of the Study Area is undeveloped land or public open space, there are other developed uses within the boundary. Residential uses are primarily single-family dwellings, including a small mobile home park. There is also a townhome development just outside of the southern part of the Study Area in the Karchner neighborhood. Commercial uses include retail, financial institutions, and professional and medical offices. There are buildings under construction on both the north and south sides of Hartson Coarse Sandy Loam (0-2% Slopes) Harston Sandy Loam (0-1% Slopes) Labenzo Gravelly Loam Labenzo Silt Loam Wardboro Gravelly Sandy Loam Wither Silty Clay Loam Highway 33. The Teton Lakes Golf Course takes up approximately 185 acres in the northern portion of the Study Area. With the exception of residences developed in Madison County, existing structures in the Study Area are relatively new. These mainly include commercial and office development around the intersection of Highway 33 and 12th West. Among the existing residences, there are some signs of aging and there are deteriorating out-buildings. For the most part, however, structures are not in a state of deterioration or demonstrate any unsafe conditions. 09 Street Network Figure 6: IPLAN Classification (City View} Legend Interstate Other Freeways or Expressways Other Principal Atrerials Minor Arterial Major Collector Minor Collector City Boundary County Study Area Idaho Transportation Department = EEE! es There are several major roadways in the Study Area as shown on Map 5. Highway 33, the only major arterial in the Study Area, is the main east/west connection, which transitions to Rexburg’s Main Street east of the intersection with 12th West. 1000 South is also a main east/west roadway. For north/south connectivity 12th West is the only street which crosses the entire Study Area. 1000 South is a major collector and 12th West is a minor arterial according to the 2022 Transportation Master Plan (TMP). The other roadways within the Study Area are local roads. Most of the streets around the US 20 interchange are new and in good condition, including Summers Drive, Summit Drive, Erickson Drive, Winn Drive, Firehole Drive, and Sawtelle Avenue. There are two county roadways included in the Study Area. These include 2162 West, located just west of the interchange and services a small residential neighborhood, and 460 North, which is located between Highway 33 and the golf course and services an existing mobile home park. 460 North is in fair condition with sidewalks but no curb and gutter, with drainage instead managed by an inverted crown and water running to the center of the roadway. 2162 West is an unimproved roadway with no asphalt, curb or gutter. Additionally, it is a loop road and connects to Highway 33 less than 500 feet from the intersection of the highway and 12th West. Access issues are discussed in more detail in the Findings section of this report. During the site visit with City staff, and in a close review of the area, there were several connectivity and access issues identified, primarily focused around the intersection of 12th West and Highway 33 and US 20. First, US 20 represents a substantial barrier separating the Study Area from the rest of the City of Rexburg. Although Highway 33 connects under US 20 as it transitions to Main Street, there are no other crossings for approximately 1.5 miles to south and 3.5 miles to the north. Each of these other crossings are other interchanges. There are no other over- or under-passes to provide connectivity to the east. The City would DEVELOPABLE FIELD WEST OF SUMMERS DRIVE like to see 1000 South (which transitions to 7th South east of 12th West) eventually connect across US 20. The second major connectivity issue is the intersection of Highway 33 and 12th West. The intersection is currently not aligned properly on either axis. An image of the intersection is included below, which shows the offsets of each section of the roadway. The image also highlights the challenges in correcting the intersection. Additional right-of-way will be needed from adjacent properties in order to widen the intersection and add landscaping and pathways. It will also require the entire street light infrastructure to be relocated. This is not only extremely costly, but is also a deterrent to redevelopment of the northwest corner of the intersection, as any improvements could result in requirements for the site to upgrade to current zoning standards, which could impact the functionality of the current use. MISALIGNED INTERSECTION: HIGHWAY 33 AND 12TH WEST END OF SIDEWALK ON 12TH WEST In addition to the intersection alignment issue, there are also too many access points on the north side of Highway 33 west of the intersection with 12th West. Access points to individual properties are considered minor intersections according to the TMP, and do not have specified spacing requirements. However, spacing for major intersections (non-signalized intersections of streets on an arterial) are meant to be guidelines. At a minimum, access points on major arterials should be spaced 660 feet apart. West of the Highway 33/12th West intersection, there are driveways spaced as little as 45 feet apart. Within 1800 feet of the intersection, an area that should only have three access points, there are 16 access points, most of which are direct access to private properties. This disrupts the intended nature of the major arterial and creates many overlapping conflict points on a higher speed roadway. This issue is exacerbated by the fact that Highway 33 curves to the south approximately 1700 feet west of the intersection, reducing visibility of and for traffic travelling from the west. Although the issue is less pronounced on 12th West, north of the intersection, there are similar access concerns on the west side of the roadway. Within the first 1200 feet there are eight access, rather than the two that would exist if access management standards were followed. Even new development to the south shows intersections which are spaced too close together, specifically the distance between the driveway to Valley Wide Country Store and Summers Drive, which is only 126 feet measured center-to-center. Access to adjacent land uses is also problematic along 12th West north of the golf course and south of the intersection with Highway 33. In these sections, existing residential development includes individual driveways onto an arterial roadway. This land use development pattern makes widening the road challenging due to land purchases or dedications which may need to be negotiated with property owners who have mature landscapes within the future right-of-way. Additionally, in the area south of the Highway 33/12th West intersection there is a canal running parallel with the roadway for approximately 1300 feet which will make road widening challenging and costly. Utility Network {Larch ls mm West Moody L| City of Rexburg 2019 Sewer Master q~/ Plan Updat ‘ vd Figure A13 CIP Overview mm / 2000 NORTH Northwest Lg: Ze 1000 NORTH pn Hwy 33 pad sre Summerfield LS 1000 SOUTH Us-20Ls |! ied pate Main LS, ll la l Master Plan Existing Pipe Pipe Size (in) Size (in) OF 30 RA 24 2 BRP a a od 18 North LS i 12) a Lu Ee = pe oO Riverside L CIP Projects Current ) oe | 0-5 Years eaiment Plart 5-20 Year: " sel VE rat Stucy Boundary wth oa Tole L_=L MAINy 2030 Water Line Dia (in) ~ 16 120 —_€Study Area 1 5] 3000 $0008 _ _— planning purposes onty ther poet at hee price Be preeinsiraty aw ~s ‘uB> Date: 10252019 | 2a Cxouerens, ine. Utility infrastructure in and around the Study Area is shown on Map 6. City of Rexburg Public Works staff provided information for this report that there are needed improvements in order to support current and future development in and around the Study Area. Specifically, there is a need for two area lift stations: one each on the north and south. The lift station on the north will also need to connect to a new pressurized sewer line that will run across the north boundary of the golf course. On the south, the gravity-fed sewer main does not extend far without needing an additional lift station in the area to support the additional growth. In terms of water service, there is a 14-inch water main that runs to the north end of the Study Area. Water service is currently sufficient for known development projects, but the City desires a looped system to improve flow and overall capacity. This is also water infrastructure that will help support development further north on both sides of US 20. LOOKING EAST ACROSS HWY 20 FROM 7TH SOUTH NEW DEVELOPMENT ON SAWTELLE AVENUE Most of the Study Area includes either large, vacant areas which are not yet platted or areas which have recently been platted and development is either underway or eminent. In these areas, lot layout is either adequate or not yet defined. There are, however, two areas where lot layout or ownership may cause challenges for development or redevelopment. The first area is on the north side of Highway 33, at the point where the roadway curves to the south. Here, there are two lots which are challenging for development. At the time of this writing, these conditions are mitigated by the fact that these lots, as LOOKING EAST ALONG HWY 33 NORTH END OF TETON LAKES GOLF COURSE well as a large lot to the north, are all owned by a single entity. The second challenging area is just to the east of the curve in Highway 33, and extending north of the intersection of the highway and 12th West. Here, residential development has occurred with limited infrastructure. There are also several odd, shaped lots with limited access. Although some of this is mitigated by common ownership, any redevelopment of the area would require significant effort to assemble the parcels under a single entity’s control. Comprehensive Plan Rexburg Comp. Plan ——- Study Area Low Residential Itermediate Residential High Residential Commercial industrial Open Space & Public Facilities " Form Base Rexburg Comprehensive Plan & Zoning There are five comprehensive future land use map designations within the Study Area as shown on Map 7. North of the US-20 interchange, most of the land is Low Residential or Open Space and Public Facilities. Immediately around the interchange most of the land is Commercial, with some smaller areas of Low Residential and Intermediate Residential. South of the interchange is almost entirely Low Residential. There is also a small area of Rural Cluster, which is the primary designation on lands west of the Study Area. Selections of each of the designation’s descriptions are included below: Low Residential: Low Residential (LR) areas will typically develop on the city’s edge, adjacent to natural elements such as rivers, floodplains, bluffs, view corridors, and farmland. To better integrate and preserve these unique features, design standards for new development may include open-style fencing and water-wise landscaping. intermediate Residential: Intermediate Residential (IR) areas will typically develop across the City, especially as a transition—also known as the missing middle—between low and high residential areas and other more intense uses such as commercial and mixed-use. These areas are intended to develop as complete neighborhoods, with small-scale services and public amenities within walking distance. Commercial: Commercial areas welcome a variety of retail and employment services appropriate for highway frontage areas. Uses may include grocery stores, shopping centers, dining, Rexburg Zoning F ome Study Area 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 Central Business District Community Business Center University District Open Space Rural Residential 1 Rural Residential 2 Light Industrial Heavy Industrial Regional Business Center Professional Office Zone Public Facilities Project Redevelopment Option Residential Business District Mixed Use Heming Pro-Zone Transitional Agriculture City Center Transect Main Street Transect Residential Trasect GH Core Transect hotels, and other hospitality and entertainment options, as well as employment parks. Building types may include freestanding, mid-rise, retail and office buildings in a unified campus-like setting with high quality design integrated with sidewalks, landscaped features, and public spaces. Given their location along major arterials and around transportation nodes, Commercial areas may become and ideal location for future transit facilities and electric vehicle charging stations. Open Space, Parks, & Public Facilities: The desired intent of this land use category is to provide public access to open spaces and recreational areas, as well as to essential public services and facilities. This land use category may include parks, playgrounds, sports fields golf courses, river amenities, and low impact recreational trails, as well as public buildings such as public and private educational institutions, churches, libraries, community centers, government offices, hospitals, and police and fire stations. The zoning in the Study Area is more diverse than the Comprehensive Plan. Zoning designations are shown on Map 8. North of the interchange, there are areas of Low Density Residential 1 (LDR1), Rural Residential 1 and 2 (RR1, RR2), Public Facilities (PF), and Transitional Agriculture Ten Percent Limitation & Assessed Valuation (TAG). Near the interchange there is a broader range of zones and allowed uses. These include Mixed Use (MU), Community Business Center (CBC), with a couple of small areas of TAG and Medium Density Residential 2 (MDR2). South of the interchange there are large areas of RR1 and RR2, LDR1, and Low Density Residential 2. It is important to note here again, several of the parcels both north and south of the interchange are not yet annexed into the City of Rexburg. Most of these areas, however, are within the Area of City Impact (AOI). The one exception to this is a small area just west of the south- ern curve of Highway 33, which is outside of the AOI and zoned TAG in Madison County. Within Revenue Allocation Area In addition to the eligibility criteria discussed in this report, Idaho statutes limit the combined base assessment rolls of the existing and proposed RAAs to ten percent of the current assessed valuation of all taxable property within the municipality. Idaho Code Section 50-2903(15) states: “Revenue allocation area” means that portion of an urban renewal area...where the equalized assessed valuation (as shown on the taxable property assessment rolls) of which the local governing body has determined, on and as a part of the urban renewal plan, is likely to increase as a result of the initiation of an urban renewal project... The base assessment roll or rolls of revenue allocation area or areas shall not exceed at any time ten percent (10%) of the current assessed valuation of all taxable property within the municipality.“ The Madison County Assessor’s Office provided the consultant the assessed value and adjusted base values of the existing urban renewal areas and the total assessed value of the city. Current valuations of parcels in the Study Area were obtained by the consultant through the City and County’s joint GIS Parcel Map. LOOKING EAST FROM HIDEOUT STREET TABLE 2 Statutory Ten Percent Limitation Analysis City of Rexburg $2,730,223,521 Downtown $32,941,731 North Central $36,688,091 North Interchange $3,934,165 University Boulevard $8,073,270 Study Area 28,036,291 The total combined adjusted base assessment rolls of the existing RAAs including the estimated base assessments for the Study Area will not exceed the estimated ten percent limit of $273,022,352. The combined rolls are estimated to be approximately 4% of the City’s total 2025 assessed valuation. At the time of the writing of this report, 2025 values had only recently been updated and there is a possibility that some of the data may reflect 2024 valuations. If the City Council determines to move forward with the creation of a new district, the 10% analysis should be updated as part of the economic feasibility study. However, the margin from the 10% is enough there should not be any concern that any data adjustments will affect the eligibility of the Study Area. Findings To find a study area is eligible for the creation of a URA and RAA, the Study Area must contain one or more of the statutory criteria spelled out in Idaho Code Sections 50-2018(8), (9), and 50-2903(8), and to the extent there is open land, the statutory criteria in Idaho Code Section 50-2903(8)(c). Below are the criteria and brief discussion of the findings. The Presence of a Substantial Number of Deteriorated or Deteriorating Structures and Deterioration of the Site Most of the Study Area is undeveloped land, with a few exceptions. There is new commercial development at the intersection of Highway 33 and 12th West, where both buildings and infrastructure are in good condition. There are also several pockets of existing development, primarily residential, which are in Madison County’s jurisdiction. While these are older structures (construction years were not available), they remain in at least fair condition. There are a small number of structures, especially out-buildings on agricultural properties which are deteriorating, but they do not constitute a majority or even a substantial number of deteriorated or deteriorating structures. In terms of the site, as already noted, most of the land is undeveloped. There is some deterioration of the older commercial sites at the intersection of Highway 33 and 12th West and sections of roadways which show some signs of age. However, as with structures, the Study Area overall is in good condition without obvious signs of deterioration. This criterion is not met. Age or Obsolescence There was no information on construction years of buildings within the Study Area, making it difficult to analyze the exact age of structures. Most of the residences developed in the county are visible in a 1985 aerial, which may mean there are homes and a couple of businesses which do not meet current building and fire codes. However, as has been noted several times in this report, most of the Study Area is vacant, undeveloped land. The presence of older homes is not sufficient on its own to meet the age and obsolescence criteria. The layout of and access to developable lands is an additional consideration. Within the Study Area, the only area which appears to have somewhat difficult access is the parcel just south of the proposed charter school site on 12th West. It is a vacant field which has limited access due to the existing homes. However, even here there is one potential access point from 12th West as well as the potential to plan access through the sites the north. There is also a stub-road from Willow Brook Estates to the south. This criterion is not met. Predominance of Defective or Inadequate Street Layout In terms of the overall network and layout, there is good overall connectivity. However, as lands develop, the street layout is not sufficient to accommodate significant traffic growth and there are several factors which make improvement challenging. First, 12th West is only a two-lane county road section in most of the Study Area and will need to be widened as development occurs. This is difficult because of existing residential development with direct access points, the need to acquire significant right-of-way, and the canal running parallel with a 1300-foot portion of the roadway. This is a similar issue for improvements to Highway 33. There are too many access points on the highway, especially west of the intersection with 12th West. Finally, the misalignment of the intersection of Highway 33 and 12th West is a significant challenge due to requirements to acquire right-of-way and the cost of relocating existing traffic control infrastructure This criterion is met. Outmoded Street Patterns Similar to the criterion above, there are two features of the current street pattern that are outmoded. First is the abundance of access points on the principal arterials. This disrupts traffic flow and creates multiple overlapping points of potential conflict for moving traffic. Under today’s standards for access management, not only would new access points be spaced at least 660 feet apart, but individual access points, especially for low density residential, would not be permitted directly onto arterial roadways. The second feature that is outmoded in the street pattern is the lack of a connected bicycle and pedestrian network. This is a combination of lack of curb, gutter, and sidewalk in many areas, lack of a signage and wayfinding system and lack of bike lanes on major roadways. With anticipation of strong residential growth combined with major education facilities located just south of the Study Area, a safe bicycle and 20 pedestrian network is critical. Where land is currently vacant adjacent to major roadways, this problem is easier to solve as land develops. But, similar to the widening of the roadway, where existing development is located such as residential homes, adding this type of infrastructure is much more challenging and costly. This criterion is met. Need for Correlation of the Area with Other Areas of Municipality by Streets & Modern Traffic Requirements Concern was raised by the City that there is a need for additional access across Highway 20. This need may grow as the area develops. However, data from the Idaho Transportation Department show that from 2014 to 2024, average daily trips on Highway 33 between 12th West and the underpass has actually decreased slightly. During the same period at the University Boulevard interchange, however, average daily trips increased nearly 900%, likely driven predominantly by the construction of the new Madison High School. As the area grows, the pressure for an additional Highway 20 crossing may grow, but the data does not suggest it is necessary yet. Still, the intersection of Highway 33 and 12th West is the main connection point from the Study Area to the rest of Rexburg and the intersection is misaligned. It will take significant land acquisition to adequately improve the intersection with modern traffic requirements and control devices. This criterion is met. Faulty Lot Layout in Relation to Size, Adequacy, Accessibility, or Usefulness; Obsolete Platting The Study Area contains several sections of vacant land large enough for modern development. There are other areas that contain sufficient land for development that are challenging due to the presence of existing structures and homes, lack of access, lack of platting. These are predominately the residential areas along Highway 33 and 12th West. If the area were to redevelop, assembly of land would require cooperation of multiple landowners. Platting would also be required to create developable lots with adequate access. This criterion is met. 21 Unsuitable Topography Most of the Study Area is flat and topography does not pose a significant challenge to development. During a site visit with City staff, there was discussion of topography playing a role in the need for regional lift stations, however in reviewing elevations, this appears to be more a factor of normal limitations to gravity fed sewer systems than a something complicated by topography of the land. Based on a review of the soils in the area, most of the developable lands do not show issues with shallow rock or unstable soils. There are a few areas with higher water tables as well as lands located in the 100-year flood zone. While there may be some areas with boulders that will make excavation challenging, they are not severe enough to prevent development. This criterion is not met. insanitary or Unsafe Conditions There was nothing noted in the visits to the site that appeared to be insanitary. However, as already noted in criterion above lack of appropriate bicycle and pedestrian facilities, especially on routes to nearby educational facilities, create unsafe conditions. Also, abundance of access points on principal arterials create overlapping points of conflict for all turning movements and disrupt and slow traffic on a road where vehicles expect to be moving at higher speeds. This criterion is met. Diversity of Ownership Diversity of Ownership will be a challenge to development and redevelopment in certain areas of the Study Area. According to information received from online Rexburg and Madison County GIS maps there are approximately 400 parcels in the Study Area, but only 89 unique owners. The largest holding by a single private owner is approximately 163 acres, or about 20% of the Study Area. Madison and County and City of Rexburg control roughly a combined 25% of the land in the Study Area as well. For most of the Study Area, then, diversity of ownership is not a detriment to development. However, there are two key areas in which diversity of ownership is a challenge to redevelopment and improvement of critical infrastructure. 22 The first area is the northwest corner of the intersection of Highway 33 and 12th West. There are 33 acres, with 18 unique owners. The largest land holding by a single owner in this area is around 4.5 acres. If there is any desire for redevelopment, there will be multiple owners that will have to be willing to sell property in order to assemble sufficient lands for development. Although the above noted area would be challenging for redevelopment, there is not requirement that it redevelop for the district to be successful. However, the second area of concern, which is critical to the success of the Study Area’s development is 12th West. As traffic increases, this roadway will need to be widened. As has been noted, there are at least 13 parcels that may be required to participate in future road widening, which are within the Study Area boundary and several more which are just outside the boundary. Because urban renewal agencies no longer have eminent domain authority, negotiations for any necessary acquisition of property for right-of-way is challenging, especially with so many owners. This criterion is met. Tax or Special Assessment Delinquency Taxes and special assessments were not evaluated for this report. This criterion is not met. Defective or Unusual Conditions of Title Conditions of title were not evaluated for this report. This criterion is not met. Existence of Conditions which Endanger Life or Property by Fire & Other Causes There are three conditions which may endanger life or property by fire or other causes. First, lack of bicycle and pedestrian infrastructure, especially with so many educational facilities near the southern portion of the Study Area, poses a risk of life to those who use alternative modes of transportation. This can be remediated with additional public infrastructure, including bike lanes and sidewalks or pathways. Second, also transportation related, is the over-abundance of access points on arterial roadways. This is especially prominent on the north side of Highway 33, west of the intersection with 12th West. Too many access points, especially on roads where traffic is moving at higher speeds, creates overlapping points of conflict where vehicles can potentially hit 23 each other. This issue is compounded by the curvature in the highway, reducing visibility just before hitting the highest concentration of access points. Third, there are several areas within the Study Area which are prone to flooding and a high water table. This poses a risk to future development of structures and infrastructure. These sites may require additional remediation to protect against such damages. This criterion is met. Arrests or Impairs the Sound Growth of the Municipality In areas that are developing, it is difficult to make a finding that conditions impair or arrest the sound growth of the municipality. In this case, however, there are conditions which do affect the growth of Rexburg. Sewer and water infrastructure is critical, not only to the Study Area but also, as noted by Public Works staff, development that is occurring to the north around the Teton River Temple site. Although some of that infrastructure exists, a major lift station, pressurized sewer main, and additional water mains to create a loop are required. In traditional settings, development is usually expected to pay for these types of upgrades, with costs being shared by owners of lands on both sides of the main roadway. This would mean developers on both sides of 12th West, where much of the infrastructure is needed would share costs. However, of the nearly 8,000 feet of 12th West where infrastructure and road widening may be needed, there is almost no frontage where both sides of the road are developable, or both sides have sufficient lands to develop to the extent that such infrastructure investment would be feasible. On west side of the roadway there is over 2,500 lineal feet of land that is part of the river and likely undevelopable. On the east side of the roadway, over 3,500 feet of the frontage is covered by Teton Lakes Golf Course. This scenario makes bearing the cost of infrastructure equally by multiple developers nearly impossible. A public-private partnership will likely be required to successfully install the necessary infrastructure to support growth within and without the boundaries of the Study Area. This criterion is met. 24 Conditions which Retard Development of the Area AND Results in Economic Underdevelopment of the Area & Economic Disuse Similar to the above criterion, there are conditions which retard the development of the Study Area, resulting in economic underdevelopment and disuse. In summary, lack of critical public infrastructure, extreme challenges in widening arterial roads, a misaligned major intersection, too many access points along the arterials, and lack of opportunity to cost share among developers create major challenges for development of the Study Area. Although new development is occurring, based on conversations with City of Rexburg staff, development is reaching a point where it may not be able to continue at a normal pace without the assistance of a public-private partnership. These criteria are met. Conclusion The Study Area meets one or more of the roads, a misaligned major intersection, criteria for eligibility under Idaho Code too many access points along the Sections 50-2018(8) and (9) and arterials, and lack of opportunity to cost 50-2903(8). Though portions of the Study share among developers. Table 3 Area are actively being developed, there summarizes the findings of eligibility for are significant challenges created by the the study area, which is also provided in lack of critical public infrastructure, the executive summary. extreme challenges in widening arterial LOOKING NORTH ALONG 12TH WEST LOOKING NORTH ALONG 12TH WEST3 25 TABLE 3 Summary of Eligibility Criteria Substantial Deterioration of Site Age or Obsolescence Predominance of Defective Street Layout or Inadequate Street Layout Outmoded Street Patterns Need for Correlation of Area with Other Areas of by Streets and Modern Traffic Requirements Faulty Lot Layout Unsuitable Topography Insanitary or Unsafe Conditions Diversity of Ownership Tax or Special Assessment Delinquency Defective or Unusual Conditions of Title o °o o o Most existing development is older residential homes, which are still in good condition. The site is also in generally good condition. Commercial development is newer and residential homes are still functional and in good condition. There are issues with a misaligned intersection, and extreme challenges with widening 12th West. Too many access points create slower speeds than designed. Lack of bicycle and pedestrian infrastructure is not reflective of development patterns in the Study Area. The main intersection of the Study Area, Hwy 33 and 12th West, is misaligned and very difficult to correct and widen due to lack of right-of-way. This is the main connection to Rexburg to the east. Areas with existing housing would require platting to establish developable lots. Study Area is generally flat and challenges to development due to topography are limited. Too many access points along arterials creates unsafe traffic conditions. Lack of bicycle and pedestrian infrastructure on arterials is also unsafe. The area northwest of the Hwy 33 and 12th West intersection has multiple owners that make redevelopment challenging. Ownership along the arterials is diverse, making road widening difficult. Not reviewed. Not reviewed. 26 TABLE 3 Summary of Eligibility Criteria Cont. Existence of Conditions Which Endanger Life or Property Impairs or Arrests the Sound Growth of a Municipality Retards Development of the Area Economic Underdevelopment and Economic Disuse Lack of bicycle and pedestrian infrastructure on arterials endangers life. Too many access points on arterials, especially near the curve in Hwy 33 creates overlapping points of conflict. Major infrastructure in the Study Area is required to support development both within and without the boundaries. There are major challenges to constructing these necessary components. The challenges to development have or will slow growth due to extreme costs and lack of opportunity for cost sharing. See above. 2d APPENDIX A: Additional Site Photos 28 APPENDIX A: Additional Site Photos 28 APPENDIX A ADDITIONAL SITE PHOTOS 29 APPENDIX A ADDITIONAL SITE PHOTOS 29 APPENDIX A ADDITIONAL SITE PHOTOS 30 APPENDIX A ADDITIONAL SITE PHOTOS 30 APPENDIX A Rexburg West [es[<{s:| Division | Mitch Neibaur 208-351-0805 ADDITIONAL SITE PHOTOS 31 APPENDIX A Rexburg West [es[<{s:| Division | Mitch Neibaur 208-351-0805 ADDITIONAL SITE PHOTOS 31 APPENDIX A ADDITIONAL SITE PHOTOS 32 APPENDIX A ADDITIONAL SITE PHOTOS 32 APPENDIX A ADDITIONAL SITE PHOTOS EAST END OF FIREHOLE DRIVE 33 APPENDIX A ADDITIONAL SITE PHOTOS EAST END OF FIREHOLE DRIVE 33 APPENDIX 8: Steps in Creating a URA & Revenue Allocation Area (RAA) If an urban renewal agency is in existence in a community, the creation of an urban renewal area, including a revenue allocation area (required for use of tax increment financing), begins with an eligibility report for a designated area within the community. The central question for an eligibility report is whether the study area has at least one of the statutory characteristics which must be found to be considered eligible for urban renewal activities. These characteristics or criteria are: 1.The presence of a substantial number of deteriorated or deteriorating structures and deterioration of site [50-2018(9), 50-2903(8)(b) and {8){c), and50-2008(d)(4)(2)], 2.Age or obsolescence [50-2018(8) and 50-2903(8)(a)], . 3.Predominance of defective or inadequate street layout [50-2018(9) and 50-2903(8)(b)], 4.Outmoded street patterns [50-2008(d)(4)(2)], 5.Need for correlation of area with other areas of municipality by streets andmodern traffic requirements [50-2008(d)(4)(2)], 6.Faulty lot layout in relation to size, adequacy, accessibility, or usefulness; obsolete platting [50-2018(9), 50-2903(8)(b) and (8)(c)], and 50-2008(d)(4)(2)] 7.Unsuitable topography [50-2008(d)(4)(2)], 8.Insanitary or unsafe conditions (50-2018(9), 50-2903(8)(b)], 9.Diversity of ownership (50-2018(9), 50-2903(8)(b) and (8)(c), and 50-2008(d)(4)(2)], 10.Tax or special assessment delinquency (50-2018(9), 50-2903(8)(b)], and 50-2008 {d)(4)(2)] 11.Defective or unusual conditions of title (50-2018(9), 50-2903(8)(b) and (8)(c), and 50-2008(d)(4)(2)], 12.Existence of conditions which endanger life or property by fire and other causes (50-2018(9), 50-2903(8)(b)], 13.Substantially impairs or arrests the sound growth of a municipality and is a menaceto the public health, safety, morals or welfare (50-2018(9), 50-2903(8)(b) and 8(c)], 14. Conditions which retard development of the area [50-2008(d)(4)(2)], and 15.Results in economic underdevelopment of the area (50-2903(8)(b)] and economic disuse [50-2008(d)(4)(2)]. If it is determined the Study Area has characteristics which meet one or more of the statutory criteria listed above, the Agency may accept the eligibility report and request its consideration by the governing body. No URA can be formed unless the City Council adopts a resolution finding the area under consideration is deteriorated or deteriorating 34 due to such characteristics, the redevelopment of the area is necessary for the welfare of the residents, and the area is appropriate for an urban renewal project. The resolution approved by City Council authorizes the Agency to prepare a plan for the proposed urban renewal area. The urban renewal area plan is to include the following with specificity: 1. Astatement 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. Astatement 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. Atermination date for the plan and 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; 8. Adescription 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; Once the plan is prepared and approved by RURA, it is forwarded to the City Council. Prior to the public hearing before the City Council, the City Council forwards the plan to the City Planning and Zoning Commission for its determination that the plan conforms to the City’s comprehensive plan. At least thirty (30) days prior to the public hearing, a copy of the notice and plan is distributed to the taxing entities overlapping the boundaries of the proposed district. After receiving the recommendation of the commission, and after notice fully published, the public hearing is held. The City Council must approve an urban renewal plan, including revenue allocation financing provisions, by an ordinance. If the ordinance is adopted by the City Council, a copy of the ordinance with legal description of the RAA is distributed to all the overlapping taxing entities, county officials and the State Tax Commission. By state statute, following adoption of the ordinance, the RAA is effective January 1, of the year in which it is adopted. The RAA has a maximum life of twenty years under Idaho statutes. The urban renewal agency implements the plan adopted by the City Council. 35 APPENDIX C: Open Lands Analysis The Study Area has been subject to recent development. There are portions of the Study Area which could be considered a traditional “greenfield” area and do not include agricultural land. Other portions of the Study Area, including areas that could be developed, contain agricultural uses. There are several parcels in both cases which are vacant and large enough for modern development. Idaho Code Section 50-2903(8)(c) states: “[a]ny 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.” The eligibility criteria set forth in Idaho Code Section 50-2903(8)(c) for predominantly open land areas mirror or are the same as those criteria set forth in Idaho Code Sections 50-2018(9) and 50-2903(8)(b). “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 the same or similar to “a substantial number of deteriorated or deteriorating structures” and “deterioration of site or other improvements.” There is also an additional qualification that the provisions of Idaho Code Section 50-2008(d) shall apply to open areas. Idaho Code Section 50-2008 primarily addresses the urban renewal plan approval process and Idaho Code Section 50-2008(d)(4) sets forth certain conditions and findings for acquisition of open land as follows: The urban renewal plan will afford maximum opportunity, consistent with the sound needs of the municipality as a whole, for the rehabilitation or redevelopment of the urban renewal area by private enterprise: provided, that if the urban renewal area consists of an area of open land to be acquired by the urban renewal agency, such area shall not be so acquired unless (1) if it is to be developed for residential uses, the local governing body shall determine that a shortage of housing of sound standards and design which is decent, safe and sanitary exists in the municipality; that the need for housing accommodations has been or will be increased as a result of the clearance of slums in other areas; that the conditions of blight in the area and the shortage of decent, safe and sanitary housing cause or contribute to an increase in and spread of disease and crime and constitute a menace to the public health, safety, morals, or welfare; and that the acquisition of the area for 36 residential uses is an integral part of and essential to the program of the municipality, or (2) if it is to be developed for nonresidential uses, the local governing body shall determine that such nonresidential uses are necessary and appropriate to facilitate the proper growth and development of the community in accordance with sound planning standards and local community objectives, which acquisition may require the exercise of governmental action, as provided in this act, because of defective or unusual conditions of title, diversity of ownership, tax delinquency, improper subdivision, outmoded street patterns, deterioration of site, economic disuse, unsuitable topography or faulty lot layouts, 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. In sum, there is one set of findings if the area of open land is to be acquired and developed for residential uses and a separate set of findings if the land is to be acquired and developed for nonresidential uses. Basically, open land areas may be acquired by an urban renewal agency and developed for nonresidential uses if such acquisition is necessary to solve various problems, associated with the land or the infrastructure, that have delayed the area’s 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 the stated conditions are included in one form or another in the definition of a deteriorated area and/or a deteriorating area set forth in Idaho Code Sections 50-2903(8)(b) and 50-2018(9). The conditions listed only in Section 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.” The conclusion of this discussion concerning open land areas is that the area qualifies if any of the eligibility conditions set forth in Idaho Code Sections 50-2018(9) and 50-2903(8)(b) apply. Alternatively, the area under consideration qualifies if any of the conditions listed only in Idaho Code Section 50-2008(d)(4)(2) apply. As set forth in greater detail above, there are conditions of faulty lot layout, diversity of ownership, defective street patterns, and certain unsafe conditions within the Study Area. Based on the above analysis, while the Study Area does appear to be “predominantly open land,” which is not a defined term, and contains “greenfield” and agricultural operations, there are conditions which qualify it for acquisition for non-residential uses if necessary. 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and (2) that the undersigned has reviewed the urban renewal eligibility report, dated, entitled The West Highway District 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 _________________, 2026. x _______________________________________________________ James Holm 28th August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anager of K HOLDINGS LLC, states that K HOLDINGS LLC owns that ϐ ǣ RPRXBCA0263070 & RPR6N39E264800 & RPR6N39E269004ǡ ȋDzdzȌǡ ϐǣ ȋͳȌ ǡȋ͵Ȍǡ Ǣ ȋʹȌ ǡ dated, entitled The West Highway District Eligibility Report, and as attached hereto. ǡǡǡȀ 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. 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MUIR reo. As Urban Renewal Area ) SEORCH Recorder Deputy, RESOLUTION NO. 531 RESOLUTION NO. 2025-03 ON OCTOBER 15, 2025; ACCEPTING THAT CERTAIN REPORT ON ELIGIBILITY PREPARED FOR THE REXBURG URBAN RENEWAL AGENCY ON THE ELIGIBILITY FOR CERTAIN PROPERTY REFERRED TO AS THE WEST HIGHWAY DISTRICT AREA AS AN URBAN RENEWAL AREA AND REVENUE ALLOCATION AREA AND JUSTIFICATION FOR DESIGNATING THE AREA AS APPROPRIATE FOR AN URBAN RENEWAL PROJECT SUBJECT TO CERTAIN CONDITIONS; FINDING A PORTION OF THE WEST HIGHWAY DISTRICT AREA INCLUDES CERTAIN PROPERTIES WITHIN THE UNINCORPORATED AREA OF MADISON COUNTY; FINDING AND DECLARING THE NEED REXBURG AND WITHIN THE UNINCORPORATED AREA OF MADISON COUNTY; FINDING THAT THE JURISDICTIONAL BOUNDARIES OF THE CITY OF REXBURG AND MADISON COUNTY REMAIN THE SAME; AND PROVIDING AN EFFECTIVE DATE. At a meeting of the Madison County Board of County Commissioners, State of Idaho on the 27" day of October 2025, the following Resolution was adopted to wit: WHEREAS, the Rexburg Urban Renewal Agency, an independent public body corporate and politic, authorized under the authority of the Idaho 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”), is a duly created and functioning urban renewal agency for Rexburg, Idaho, hereinafter referred to as the “Agency.” WHEREAS, the City Council (the “City Council”) of the city of Rexburg (the “City”) found that deteriorating areas exist in the City, therefore, for the purposes of the Law, created an urban renewal agency pursuant to the Law, authorizing the Agency to transact business and exercise the powers granted by the Law and the Act upon making the findings of necessity required for creating the Agency; WHEREAS, there are several existing urban renewal/revenue allocation project areas in the City; RESOLUTION NO. 531 - 1 WHEREAS, it has become apparent that additional property, a portion of which is located within the City, and a portion of which is located within the City’s area of operation and within unincorporated Madison County, may be deteriorating or deteriorated and should be examined as to whether such an area is eligible for an urban renewal project; WHEREAS, the Agency obtained The West Highway District Eligibility Report (the “Eligibility Report”), a copy of which is attached hereto as Exhibit A, which examined the West Highway District Study Area, which area also included real property located within unincorporated Madison County, for the purpose of determining whether such area was a deteriorating area or a deteriorated area as defined by Idaho Code Sections 50-2018(8), (9) and 50-2903(8); Area, including; a. predominance of defective or inadequate street layout, b. outmoded street patterns; c. need for correlation of area with other areas of by streets and modern traffic requirements; d. faulty lot layout in relation to size, adequacy, accessibility or usefulness; obsolete platting; insanitary or unsafe conditions; diversity of ownership; existence of conditions which endanger life or property by fire and other causes; substantially impairs or arrests the sound growth of a municipality; conditions which retard development of the area; and results in economic underdevelopment of the area and economic disuse. Sr og po WHEREAS, the West Highway District Study Area includes open space/open land; WHEREAS, under the Act, a deteriorated area includes any area which is predominantly open and which, because of obsolete platting, diversity of ownershi , 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. See Idaho Code § 50-2903(8)(c); WHEREAS, Idaho Code §§ 50-2018(8), (9), 50-2903(8) and 50-2008(d) list additional conditions applicable to open land areas, including open land areas to be acquired by the Agency, which are the same or similar to the conditions set forth in the definitions of “deteriorating area” and “deteriorating area;” WHEREAS, the Report addresses the findings concerning the eligibility of open land within the Study Area as defined in Idaho Code Sections 50-2018(9), 50-2903(8)(c), and 50- RESOLUTION NO. 531 - 2 2008(d); WHEREAS, the effects of the listed conditions cited in the Eligibility Report result in economic underdevelopment of the areas, substantially impairs or arrests the sound growth of a municipality, constitutes an economic or social liability, and is a menace to the public health, safety, morals, or welfare in its present condition or use; WHEREAS, the West Highway District Study Area includes parcels subject to such consent. While the necessary consents have not been obtained, any and all consents shall be obtained prior to City Council consideration of any urban renewal plan; WHEREAS, the Eligibility Report includes a preliminary analysis concluding the base assessment roll value for the West Highway District Study Area together with the combined base WHEREAS, Idaho Code Section 50-2018(18) states that an urban renewal agency cannot exercise jurisdiction over any area outside the city limits without the approval of the governing body of the other city or county declaring the need for an urban renewal plan for the proposed area; WHEREAS, a portion of the West Highway District Study Area includes certain real property located within unincorporated Madison County; WHEREAS, the Agency accepted the Report by way of Resolution No. 2025-03 at the October 15, 2025, meeting of the Agency Board, a copy of which Resolution (without exhibits) is WHEREAS, pursuant to Idaho Code Section 50-2008, an urban renewal project may not be planned or initiated unless the local governing body has, by resolution, determined such area to be a deteriorated area or deteriorating area, or combination thereof, and designated such area as appropriate for an urban renewal project; RESOLUTION NO, 531 - 3 WHEREAS, the proposed West Highway District Study Area has no impact on the jurisdictional boundaries of Madison County; WHEREAS, on October 27, 2025, representatives of the City and/or Agency presented the Eligibility Report to the Madison County Commissioners requesting the Commissioners to consider adopting the findings concerning the proposed West Highway District Study Area. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF MADISON COUNTY, IDAHO, AS FOLLOWS: Section 1. That the above statements are true and correct. Section 2. That the findings of the Agency made on October 15, 2025, in Resolution No. 2025-03, are hereby adopted by the Board of Madison County Commissioners. Section 3. That consistent with Idaho Code § 50-2018(18), there is a need for an urban renewal plan for the West Highway District Study Area. Section 4. That this Resolution shall be in full force and effect immediately upon its adoption and approval. ADOPTED this 27th day of October 2025. BOARD OF MADISON COUNTY COMMISSIONERS __ ZosAZ J tay 7 (We wv “eeu ATTEST: Madison County Clerk RESOLUTION NO, 531 - 4 EXHIBIT A West Highway District Eligibility Report RESOLUTION NO. 531 - 5 EXHIBIT A West Highway District Eligibility Report RESOLUTION NO. 531 - 5 PERSPECTIVE PLANNING & CONSULTING West Highway District ELIGIBILITY REPORT PREPARED BY Brad Cramer, MPA, AICP Perspective Planning & Consulting LLC PERSPECTIVE PLANNING & CONSULTING West Highway District ELIGIBILITY REPORT PREPARED BY Brad Cramer, MPA, AICP Perspective Planning & Consulting LLC PERSPECTIVE PLANNING & CONSULTING Contents 01 EXECUTIVE SUMMARY 25 CONCLUSION 04 BACKGROUND 28 APPENDIX A: INFORMATION Additional Site Photos 0s SUMMARY OF THE 34 APPENDIX B: STUDY AREA Steps to Creating an Urban Renewal District O8 = CURRENT CONDITIONS 36 APPENDIX C: IN THE STUDY AREA Open Lands Analysis 19 FINDINGS LAYOUT DESIGN BY POVEY Madison Ronneburg, Graphic Designer ly) DESIGN CO. Povey Design Co. LLC. Study Area Boundaries Executive Summary This report is a review of approximately 840 acres generally bounded by 1000 South on the southern end, US Highway 20 on the east, 3000 West on the western side, 2000 North on the northern boundary to determine if it is eligible for designation as an Urban Renewal Area (URA) and appropriate for an urban renewal project under the Idaho Urban Renewal Law of 1965 and Local Economic Development Act, which are described in more detail in Appendix B. For purposes of this report, the area under consideration will be referred to as the Study Area. It includes areas both in private ownership as well as lands owned by the City of Rexburg and Madison County. The Study Area boundaries are shown on Map 1. The Idaho Urban Renewal Law of 1965, which comprises Chapter 20, Title 50 as amended and the Local Economic Development Act, comprising Chapter 29, Title 50 of Idaho Code as amended, outline the statutory criteria for determining whether an area is eligible to be designated as a URA. To be eligible, a site must be determined to be a deteriorating and/or deteriorated area by meeting at least one of these statutory criteria. The review of the Study Area determined that it meets at least one of the criteria and is, therefore, eligible to be an urban renewal project. A summary of the criteria and whether they are met is included below in Table 1. The full analysis of each criterion is included in the main body of the report. TABLE 1 Summary of Findings CRITERION CHARACTERISTICS MET SUPPORTING FINDING CRITERION Substantial Deterioration of Site Most existing development is older residential homes, which are still in good condition. The site is also in generally good condition. Commercial development is newer and residential Age or Obsolescence Predominance of Defective Street Layout or Inadequate Street Layout Outmoded Street Patterns Need for Correlation of Area with Other Areas of by Streets and Modern Traffic Requirements Faulty Lot Layout Unsuitable Topography Insanitary or Unsafe Conditions 89 8 8 08 0 8 0 8 0 8 0 8 0 homes are still functional and in good condition. There are issues with a misaligned intersection, and extreme challenges with widening 12th West. Too many access points create slower speeds than designed. Lack of bicycle and pedestrian infrastructure is not reflective of development patterns in the Study Area. The main intersection of the Study Area, Hwy 33 and 12th West, is misaligned and very difficult to correct and widen due to lack of right-of-way. This is the main connection to Rexburg to the east. Areas with existing housing would require platting to establish developable tots. Study Area is generally flat and challenges to development due to topography are limited. Too many access points along arterials creates unsafe traffic conditions. Lack of bicycle and pedestrian infrastructure on arterials is also unsafe. 02 TABLE 1 Summary of Findings Continued CRITERION CRITERION Diversity of Ownership Tax or Special Assessment Delinquency Defective or Unusual Conditions of Title Existence of Conditions Which Endanger Life or Property Impalrs or Arrests the Sound Growth of a Municipality Retards Development of the Area Economic Underdevelopment and Economic Disuse MET CHARACTERISTICS SUPPORTING FINDING The area northwest of the Hwy 33 and 12th West intersection has multiple owners that make redevelopment challenging. Ownership along the arterials is diverse, making road widening difficult. Not reviewed. Not reviewed. Lack of bicycle and pedestrian infrastructure on arterials endangers life. Too many access points on arterials, especially near the curve in Hwy 33 creates overlapping points of conflict, Major infrastructure in the Study Area is required to support development both within and without the boundaries. There are major chailenges to constructing these necessary components. The challenges to development have or will slow growth due to extreme costs and lack of opportunity for cost sharing. See above. Ps « we, 4 COMMERCIAL DEVELOPMENT AT HWY “ 33 AND 12TH WEST 03 DEVELOPABLE AREA NORTH OF HWY 33 Background Information The Rexburg Urban Renewal Agency (RURA) is the urban renewal agency of the City of Rexburg. RURA was created on November 6, 1991, for the purpose of eliminating blight and deteriorating conditions in the City of Rexburg. RURA currently manages four Urban Renewal Districts. The Mayor, with the confirmation of the City Council, has appointed seven individuals to the RURA Board: Bill Riggins, Chairperson Traci Peterson, Vice Chairperson Randall Porter, Secretary Tisha Flora Robert Chambers Dustin Parkinson JC Weber Scott Miller serves as the Administrator of RURA, Leslie Giles is the Assistant Administrator and Matt Nielson serves as Treasurer. Meghan Conrad with Elam and THE REXBURG URBAN RENEWAL AGENCY Burke is legal counsel for RURA. Brad Cramer with Perspective Planning and Consulting has been engaged to prepare an eligibility report to determine if the Study Area meets the criteria for consideration as an Urban Renewal Area {URA). Additional information on Idaho's urban renewal program is included in Appendix B. LOOKING WEST FROM HIDEOUT STREET 04 Urban Renewal Background Information In response to federal programs funding redevelopment of “blighted” urban areas in the mid-twentieth century, Idaho passed the Idaho Urban Renewal Law of 1965. The law authorized Idaho Municipalities to identify deteriorating areas within their communities and to use federal grant monies to improve and, if necessary, redevelop these areas. Support for such federal expenditures dissipated and eventually ended in the early 1970's. With the loss of federal support, states needed another tool to assist cities to redevelop deteriorating areas and to participate in the economic vitality of their communities. Idaho cities have a significant financial challenge in responding to the infrastructure demands of growth along with the on-going need to maintain the existing physical plant in good repair. Idaho cities face stringent constitutional limitations and near total dependence upon state legislative action to provide funding. An Idaho city’s access to funding sources and the ability to employ effective financing mechanisms such as general obligation bonding severely constrain capital investment strategies. PURPOSE OF THE REPORT DEVELOPABLE AREA NORTH OF HWY 33 Tools available to cities in Idaho Code Title 50, Chapters 20 and 29, the Urban Renewal Law of 1965 and the Local Economic Development Act, respectively, are some of the few available to assist communities in their efforts to support economic vitality. New sources of State support, such as Community Infrastructure Districts (CIDs) are available but still largely untested, thus RURA's on-going interest in exploring the potential for establishing additional urban renewal/revenue allocation areas is appropriate. The purpose of this report is to determine if the Study Area meets the criteria outlined in Idaho statutes, Idaho Code Sections 50-2018(8), (9), and 50-2903(8), for a URA. This report is the first step to assist the Rexburg City Council determine if there is a need for creating a URA in a portion or all of the Study Area. To be eligible for the creation of a URA, the Study Area must have at least one of the statutory characteristics present. Determining that an area is eligible, however, does not obligate RURA or City Council to proceed with the creation of a URA. A full description of the steps in creating a URA and Revenue Allocation Area (RAA) is included in Appendix B. 05 2003 Aerial Summary of the Study Area The Study Area includes approximately 400 parcels and 840 acres. It is bounded by 1000 South on the southern end, US Highway 20 on the east, 3000 West on the western side, 2000 North on the northern boundary. Not all of the Study Area is currently annexed into the City of Rexburg. Approximately 200 acres, or 23% remains in Madison County, although most of these lands are within the Area of City Impact. Most of the Study Area is undeveloped, although the central area at the intersection of Highway 33 and 12th West (the main north/south roadway in the Study Area) has seen increased growth over the past several years. This intersection is highlighted by commercial and office development. Further south a new residential neighborhood is being developed just north of 1000 South. To the south of the Study Area is the University Boulevard Urban Renewal District, which includes several Madison High School facilities as well as an elementary school. It also includes newer commercial development. This growth has influenced increased demand for development and infrastructure in the Study Area. The northwest section of the Study Area is also adjacent to new residential development and is platted for future single-family dwellings. Commercial growth in the Study Area began in the early 2000's, based on historic aerial imagery. The Valley Wide Country Store first appears in the 2003 aerial, although the building date was not available from the Madison County parcel report. In that aerial there are also several buildings shown on the northwest corner of the intersection of Highway 33 and 12th West. Map 2 shows the Study Area in 2003. By 2006, other commercial and professional buildings were also constructed as well as new roads south of Highway 33 to service the new DEVELOPABLE FIELD SOUTH OF SUMMERFIELD LANE development. By 2009, Madison High School was under construction and growth has continued to increase since that time. With the increased growth has come higher demands on public infrastructure such as roads and utilities. The main roadways in the Study Area lack complete infrastructure and are, for the most part, two-lane county road sections. With the significant investment in educational facilities to the south, the need for improved bicycle and pedestrian infrastructure is critical for students to have save routes for alternative modes of transportation. There are also several areas in the central part of the Study Area were access points and intersection alignment need to be resolved to accommodate anticipated increases in traffic as commercial growth continues. On both the north and south of the Study Area, Rexburg City staff indicated the need for regional lift stations to support growth as well. Each of these conditions contributes to RURA‘s desire to consider a new urban renewal district. DEVELOPABLE FIELD WEST OF SUMMERFIELD LANE Current Conditions In The Study Area TOPOGRAPHY & GEOLOGY Map 3 shows the topography of the Study Area. in general, topography maps available online show the Study Area to be relatively flat with no major changes in elevation that would pose a significant challenge to development. Likewise, USDA's Natural Resources Conservation Service (NRCS) soil maps (shown on Map 4) show the area is predominately Labenzo Silt Loam, which does not present significant limitations to development. There are several portions of the Study Area, especially those near the Teton River and golf course, which are more prone to flooding and have a higher water table. There are also some areas along US 20 and just north of Highway 33 which are within FEMA flood zone AE, or 100-year flood zone. Although this does not mean development is impossible, it will require additional remediation and coordination with appropriate entities. os NRCS Soil Map Study Area Annis Sitty Clay Loam Bannock Loam Blackfoot Sik Loam Haplaquolis Channeled LAND USES & STRUCTURES Although most of the Study Area is undeveloped land or public open space, there are other developed uses within the boundary. Residential uses are primarily single-family dwellings, including a small mobile home park. There is also a townhome development just outside of the southern part of the Study Area in the Karchner neighborhood. Commercial uses include retail, financial institutions, and professional and medical offices. There are buildings under construction on both the north and south sides of Hartson Coarse Sandy Losm (0-2% Slopes) Harston Sandy Loam (0-1% Slopes} Labenzo Gravelly Loam Labenzo Silt Loam Wardboro Gravelly Sandy Loam Wither Silty Clay Loam Highway 33. The Teton Lakes Golf Course takes up approximately 185 acres in the northern portion of the Study Area. With the exception of residences developed in Madison County, existing Structures in the Study Area are relatively new. These mainly include commercial and office development around the intersection of Highway 33 and 12th West. Among the existing residences, there are some signs of aging and there are deteriorating out-buildings. For the most part, however, structures are not in a state of deterioration or demonstrate any unsafe conditions. o9 Street Network Figure 6: IPLAN Classification (City View) Interstate Other Freeways or Expressways Other Principal Atreriats Minor Artertal Major Collector . Minor Collector City Boundary County + Study Area ee i Sbsties Bare MERE. Gory thea sbeang A ong? Ep. . SS isade TA, ete tay XQ cs er UBGS. Wintres (NORE MENT © BAa> Ex sone YETI Dar Mes Eyreleadgns: AGOO a Ngersireetv TARw meres and the idaho Transportation Department t Ga ct tz te dé =z... = td Daw 3551 2us2 ~ , a . A me There are several major roadways in the Study Area as shown on Map 5. Highway 33, the only major arterial in the Study Area, is the main east/west connection, which transitions to Rexburg’s Main Street east of the intersection with 12th West. 1000 South is also a main east/west roadway. For north/south connectivity 12th West is the only street which crosses the entire Study Area. 1000 South is a major collector and 12th West is a minor arterial according to the 2022 Transportation Master Plan (TMP). The other roadways within the Study Area are local roads. Most of the streets around the US 20 interchange are new and in good condition, including Summers Drive, Summit Drive, Erickson Drive, Winn Drive, Firehole Drive, and Sawtelle Avenue. There are two county roadways included in the Study Area. These include 2162 West, located just west of the interchange and services a small residential neighborhood, and 460 North, which is located between Highway 33 and the golf course and services an existing mobile home park. 460 North is in fair condition with sidewalks but no curb and gutter, with drainage instead managed by an inverted crown and water running to the center of the roadway. 2162 West is an unimproved roadway with no asphalt, curb or gutter. Additionally, it is a loop road and connects to Highway 33 less than 500 feet from the intersection of the highway and 12th West. Access issues are discussed in more detail in the Findings section of this report. During the site visit with City staff, and in a close review of the area, there were several connectivity and access issues identified, primarily focused around the intersection of 12th West and Highway 33 and US 20. First, US 20 represents a substantial barrier separating the Study Area from the rest of the City of Rexburg. Although Highway 33 connects under US 20 as it transitions to Main Street, there are no other crossings for approximately 1.5 miles to south and 3.5 miles to the north. Each of these other crossings are other interchanges. There are no other over- or under-passes to provide connectivity to the east. The City would DEVELOPABLE FIELD WEST OF SUMMERS DRIVE like to see 1000 South (which transitions to 7th South east of 12th West) eventually connect across US 20. The second major connectivity issue is the intersection of Highway 33 and 12th West. The intersection is currently not aligned properly on either axis. An image of the intersection is included below, which shows the offsets of each section of the roadway. The image also highlights the challenges in correcting the intersection. Additional right-of-way will be needed from adjacent properties in order to widen the intersection and add landscaping and Pathways. It will also require the entire street light infrastructure to be relocated. This is not only extremely costly, but is also a deterrent to redevelopment of the northwest corner of the intersection, as any improvements could result in requirements for the site to upgrade to current zoning standards, which could impact the functionality of the current use. END OF SIDEWALK ON 12TH WEST In addition to the intersection alignment issue, there are also too many access points on the north side of Highway 33 west of the intersection with 12th West. Access points to individual properties are considered minor intersections according to the TMP, and do not have specified spacing requirements. However, spacing for major intersections (non-signalized intersections of streets on an arterial) are meant to be guidelines. At a minimum, access points on major arterials should be spaced 660 feet apart. West of the Highway 33/12th West intersection, there are driveways spaced as little as 45 feet apart. Within 1800 feet of the intersection, an area that should only have three access points, there are 16 access points, most of which are direct access to private Properties. This disrupts the intended nature of the major arterial and creates many overlapping conflict points on a higher speed roadway. This issue is exacerbated by the fact that Highway 33 curves to the south approximately 1700 feet west of the intersection, reducing visibility of and for traffic travelling from the west. Although the issue is less pronounced on 12th West, north of the intersection, there are similar access concerns on the west side of the roadway. Within the first 1200 feet there are eight access, rather than the two that would exist if access management standards were followed. Even new development to the south shows intersections which are spaced too close together, specifically the distance between the driveway to Valley Wide Country Store and Summers Drive, which is only 126 feet measured center-to-center. Access to adjacent land uses is also problematic along 12th West north of the golf course and south of the intersection with Highway 33. In these sections, existing residential development includes individual driveways onto an arterial roadway. This land use development pattern makes widening the road challenging due to land purchases or dedications which may need to be negotiated with property owners who have mature landscapes within the future right-of-way. Additionally, in the area south of the Highway 33/12th West intersection there is a canal running parallel with the roadway for approximately 1300 feet which will make road widening challenging and costly. 12 Utility Network - | Master Plan Existing Pipe Pipe Size (in) Size (in) 2 24 PA» aN el Prd s AA 6 1000 NORTH m Use CIP Projects Current HE Master Pian ls on Wastewater 05 Years eg Treatment Poor Ewa) 520 Tears a Study Baurcary J AS Needed With Grove 2030 Water Line Dia (in) —~ 8 ——16 12 == Study Area 5" Exseting 15 ° 3000 S0Kos BOLE Veaid verthedten wary Unity xaos Une SPNROOR oF orar paisatat ithe omg = Fees [AW 1000 SOUTH sewer main does not extend far without UTILITIES needing an additional lift station in the area to support the additional growth. Utility infrastructure in and around the Study Area is shown on Map 6. City of In terms of water service, there is a Rexburg Public Works staff provided 14-inch water main that runs to the north information for this report that there are end of the Study Area. Water service is needed improvements in order to currently sufficient for known support current and future development development projects, but the City in and around the Study Area. desires a looped system to improve flow Specifically, there is a need for two area and overall capacity. This is also water lift stations: one each on the north and infrastructure that will help support south. The lift station on the north will development further north on both sides also need to connect to a new of US 20. pressurized sewer line that will run across the north boundary of the golf course. On the south, the gravity-fed 3 LOOKING EAST ACROSS HWY 20 FROM 7TH SOUTH NEW DEVELOPMENT ON SAWTELLE AVENUE LOT LAYOUT Most of the Study Area includes either large, vacant areas which are not yet platted or areas which have recently been platted and development is either underway or eminent. In these areas, lot layout is either adequate or not yet defined. There are, however, two areas where lot layout or ownership may cause challenges for development or redevelopment. The first area is on the north side of Highway 33, at the point where the roadway curves to the south. Here, there are two lots which are challenging for development. At the time of this writing, these conditions are mitigated by the fact that these lots, as LOOKING EAST ALONG HWY 33 NORTH END OF TETON LAKES GOLF COURSE well as a large lot to the north, are all owned by a single entity. The second challenging area is just to the east of the curve in Highway 33, and extending north of the intersection of the highway and 12th West. Here, residential development has occurred with limited infrastructure. There are also several odd, shaped lots with limited access. Although some of this is mitigated by common ownership, any redevelopment of the area would require significant effort to assemble the parcels under a single entity’s control. Comprehensive Plan Rexburg Comprehensive Plan & Zoning There are five comprehensive future land use map designations within the Study Area as shown on Map 7. North of the US-20 interchange, most of the land is Low Residential or Open Space and Public Facilities. Immediately around the interchange most of the land is Commercial, with some smaller areas of Low Residential and Intermediate Rexburg Comp. Pian —— Study Area Low Residential _ ltermediate Residential Gi High Residential icy) Commercial industrial Open Space & Public Facilities i Form Base Residential. South of the interchange is aimost entirely Low Residential. There is also a small area of Rural Cluster, which is the primary designation on lands west of the Study Area. Selections of each of the designation’s descriptions are included below: Low Residential: Low Residential (LR) areas will typically develop on the city’s edge, adjacent to natural elements such as rivers, floodplains, bluffs, view corridors, and farmland. To better integrate and preserve these unique features, design standards for new development may include open-style fencing and water-wise landscaping. 18 Zoning Intermediate Residential: Intermediate Residential (IR) areas will typically develop across the City, especially as a transition—also known as the missing middle—between low and high residential areas and other more intense uses such as commercial and mixed-use. These areas are intended to develop as complete neighborhoods, with small-scale services and public amenities within walking distance. Commercial: Commercial areas welcome a variety of retail and employment services appropriate for highway frontage areas. Uses may include grocery stores, shopping centers, dining, Rexburg Zoning oom Study Area Low Density Residential 4 Low Density Residential 2 Low Density Residential 3 Medium Density Residential 1 =" ° Medium Density Residential 2 High Density Residential 1 == (High Density Residential 2 : Central Business District Community Business Center University District MB Open Space Rural Residential 4 Rural Residential 2 Light industrial Heavy Industrial Regional Business Center Professional Office Zone BSS Public Facilities Project Redevelopment Option EH Residential Business District ee Mixed Use Heming Pro-Zone Transitional Agriculture City Center Transect Main Street Transect Residential Trasect Core Transect Ba i a hotels, and other hospitality and entertainment options, as well as employment parks. Building types may include freestanding, mid-rise, retail and office buildings in a unified campus-like setting with high quality design integrated with sidewalks, landscaped features, and public spaces. Given their location along major arterials and around transportation nodes, Commercial areas may become and ideal location for future transit facilities and electric vehicle charging stations. Open Space, Parks, & Public Facilities: The desired intent of this land use category is to provide public access to 16 open spaces and recreational areas, as well as to essential public services and facilities. This land use category may include parks, playgrounds, sports fields golf courses, river amenities, and low impact recreational trails, as well as public buildings such as public and private educational institutions, churches, libraries, community centers, government Offices, hospitals, and police and fire Stations. The zoning in the Study Area is more diverse than the Comprehensive Plan. Zoning designations are shown on Map 8. North of the interchange, there are areas of Low Density Residential 1 {(LDR1), Rural Residential 1 and 2 (RR1, RR2), Public Facilities (PF), and Transitional Agriculture (TAG). Near the interchange there is a broader range of zones and allowed uses. These include Mixed Use (MU), Community Business Center (CBC), with a couple of small areas of TAG and Medium Density Residential 2 (MDR2). South of the interchange there are large areas of RR1 and RR2, LDR1, and Low Density Residential 2. it is important to note here again, several of the parcels both north and south of the interchange are not yet annexed into the City of Rexburg. Most of these areas, however, are within the Area of City Impact (AOI). The one exception to this is a small area just west of the south- erm curve of Highway 33, which is outside of the AOI and zoned TAG in Madison County. Ten Percent Limitation & Assessed Valuation Within Revenue Allocation Area In addition to the eligibility criteria discussed in this report, idaho statutes limit the combined base assessment rolls of the existin g and proposed RAAs to ten percent of the current assessed valuation of all taxable property within the municipality. Idaho Code Section 50-2903(15) states: “Revenue allocation area” means that portion of an urban renewal area...where the equalized assessed valuation (as shown on the taxable property assessment rolls) of which the local governing body has determined, on and as a part of the urban renewal plan, is likely to increase as a result of the initiation of an urban renewal project...The base assessment roll or rolls of revenue allocation area or areas shall not exceed at any time ten percent (10%) of the current assessed valuation of all taxable Property within the municipality“ The Madison County Assessor's Office provided the consultant the assessed value and adjusted base values of the existing urban renewal areas and the total assessed value of the city. Current valuations of parcels in the Study Area were obtained by the consultant through the City and County's joint GIS Parcel Map. LOOKING EAST FROM HIDEOUT STREET» TABLE 2 Statutory Ten Percent Limitation Analysis AREA 2025 ASSESSED VALUE PERCENTAGE City of Rexburg $2,730,223,521 ADJUSTED BASE Downtown $32,941,731 North Central $36,688,091 North Interchange $3,934,165 University Boulevard $8,073,270 Study Area 28,036,291 TOTAL ASSESSED BASE URA’S $109,673,548 The total combined adjusted base assessment rolls of the existing RAAs including the estimated base assessments for the Study Area will not exceed the estimated ten percent limit of $273,022,352. The combined rolis are estimated to be approximately 4% of the City’s total 2025 assessed valuation. At the time of the writing of this report, 2025 values had only recently been updated and there is a possibility that some of the data may reflect 2024 valuations. if the City Council determines to move forward with the creation of a new district, the 10% analysis should be updated as part of the economic feasibility study. However, the margin from the 10% is enough there should not be any concern that any data adjustments will affect the eligibility of the Study Area. 18 a Findings To find a study area is eligible for the creation of a URA and RAA, the Study Area must contain one or more of the statutory criteria spelled out in idaho Code Sections 50-2018(8), (9), and 50-2903(8), and to the extent there is open land, the statutory criteria in Idaho Code Section 50-2903(8)(c). Below are the criteria and brief discussion of the findings. 01 02 The Presence of a Substantial Number of Deteriorated or Deteriorating Structures and Deterioration of the Site Most of the Study Area is undeveloped land, with a few exceptions. There is new commercial development at the intersection of Highway 33 and 12th West, where both buildings and infrastructure are in good condition. There are also several pockets of existing development, primarily residential, which are in Madison County’s jurisdiction. While these are older structures (construction years were not available), they remain in at least fair condition. There are a small number of structures, especially out-buildings on agricultural properties which are deteriorating, but they do not constitute a majority or even a substantial number of deteriorated or deteriorating structures. in terms of the site, as already noted, most of the land is undeveloped. There is some deterioration of the older commercial sites at the intersection of Highway 33 and 12th West and sections of roadways which show some signs of age. However, as with structures, the Study Area overall is in good condition without obvious signs of deterioration. This criterion is not met. Age or Obsolescence There was no information on construction years of buildings within the Study Area, making it difficult to analyze the exact age of structures. Most of the residences developed in the county are visible in a 1985 aerial, which may mean there are homes and a couple of businesses which do not meet current building and fire codes. However, as has been noted several times in this report, most of the Study Area is vacant, undeveloped land. The presence of older homes is not sufficient on its own to meet the age and obsolescence criteria. The layout of and access to developable lands is an additional consideration. Within the Study Area, the only area which appears to have somewhat difficult access is the parcel just south of the proposed charter school site on 19 O2 12th West. It is a vacant field which has limited access due to the existing homes. However, even here there is one potential access point from 12th West as well as the potential to plan access through the sites the north. There is also a stub-road from Willow Brook Estates to the south. This criterion is not met. O03 Predominance of Defective or Inadequate Street Layout In terms of the overall network and layout, there is good overall connectivity. However, as lands develop, the street layout is not sufficient to accommodate significant traffic growth and there are several factors which make improvement challenging. First, 12th West is only a two-lane county road section in most of the Study Area and will need to be widened as development occurs. This is difficult because of existing residential development with direct access points, the need to acquire significant right-of-way, and the canal running parallel with a 1300-foot portion of the roadway. This is a similar issue for improvements to Highway 33. There are too many access points on the highway, especially west of the intersection with 12th West. Finally, the misalignment of the intersection of Highway 33 and 12th West is a significant challenge due to requirements to acquire right-of-way and the cost of relocating existing traffic control infrastructure This criterion is met. O04 Outmoded Street Patterns Similar to the criterion above, there are two features of the current street pattern that are outmoded. First is the abundance of access points on the principal arterials. This disrupts traffic flow and creates multiple overlapping points of potential conflict for moving traffic. Under today’s standards for access management, not only would new access points be spaced at least 660 feet apart, but individual access points, especially for low density residential, would not be permitted directly onto arterial roadways. The second feature that is outmoded in the street pattern is the lack of a connected bicycle and pedestrian network. This is a combination of lack of curb, gutter, and sidewalk in many areas, lack of a signage and wayfinding system and lack of bike lanes on major roadways. With anticipation of strong residential growth combined with major education facilities located just south of the Study Area, a safe bicycle and 20 04 05 06 pedestrian network is critical. Where land is currently vacant adjacent to major roadways, this problem is easier to solve as land develops. But, similar to the widening of the roadway, where existing development is located such as residential homes, adding this type of infrastructure is much more challenging and costly. This criterion is met. Need for Correlation of the Area with Other Areas of Municipality by Streets & Modern Traffic Requirements Concern was raised by the City that there is a need for additional access across Highway 20. This need may grow as the area develops. However, data from the Idaho Transportation Department show that from 2014 to 2024, average daily trips on Highway 33 between 12th West and the underpass has actually decreased slightly. During the same period at the University Boulevard interchange, however, average daily trips increased nearly 900%, likely driven predominantly by the construction of the new Madison High School. As the area grows, the pressure for an additional Highway 20 crossing may grow, but the data does not suggest it is necessary yet. Still, the intersection of Highway 33 and 12th West is the main connection point from the Study Area to the rest of Rexburg and the intersection is misaligned. It will take significant land acquisition to adequately improve the intersection with modern traffic requirements and control devices. This criterion is met. Faulty Lot Layout in Relation to Size, Adequacy, Accessibility, or Usefulness; Obsolete Platting The Study Area contains several sections of vacant land large enough for modern development. There are other areas that contain sufficient land for development that are challenging due to the presence of existing structures and homes, lack of access, lack of platting. These are predominately the residential areas along Highway 33 and 12th West. If the area were to redevelop, assembly of land would require cooperation of multiple landowners. Platting would also be required to create developable lots with adequate access. This criterion is met. 21 07 08 09 Unsuitable Topography Most of the Study Area is flat and topography does not pose a significant challenge to development. During a site visit with City staff, there was discussion of topography playing a role in the need for regional lift stations, however in reviewing elevations, this appears to be more a factor of normal limitations to gravity fed sewer systems than a something complicated by topography of the land. Based on a review of the soils in the area, most of the developable lands do not show issues with shallow rock or unstable soils. There are a few areas with higher water tables as well as lands located in the 100-year flood zone. While there may be some areas with boulders that will make excavation challenging, they are not severe enough to prevent development. This criterion is not met. Insanitary or Unsafe Conditions There was nothing noted in the visits to the site that appeared to be insanitary. However, as already noted in criterion above lack of appropriate bicycle and pedestrian facilities, especially on routes to nearby educational facilities, create unsafe conditions. Also, abundance of access points on principal arterials create overlapping points of conflict for all turning movements and disrupt and slow traffic on a road where vehicles expect to be moving at higher speeds. This criterion is met. Diversity of Ownership Diversity of Ownership will be a challenge to development and redevelopment in certain areas of the Study Area. According to information received from online Rexburg and Madison County GIS maps there are approximately 400 parcels in the Study Area, but only 89 unique owners. The largest holding by a single private owner is approximately 163 acres, or about 20% of the Study Area. Madison and County and City of Rexburg control roughly a combined 25% of the land in the Study Area as well. For most of the Study Area, then, diversity of ownership is not a detriment to development. However, there are two key areas in which diversity of ownership is a challenge to redevelopment and improvement of critical infrastructure. 09 10 11 12 The first area is the northwest corner of the intersection of Highway 33 and 12th West. There are 33 acres, with 18 unique owners. The largest land holding by a single owner in this area is around 4.5 acres. if there is any desire for redevelopment, there will be multiple owners that will have to be willing to sell property in order to assemble sufficient lands for development. Although the above noted area would be challenging for redevelopment, there is not requirement that it redevelop for the district to be successful. However, the second area of concern, which is critical to the success of the Study Area’s development is 12th West. As traffic increases, this roadway will need to be widened. As has been noted, there are at least 13 parcels that may be required to participate in future road widening, which are within the Study Area boundary and several more which are just outside the boundary. Because urban renewal agencies no longer have eminent domain authority, negotiations for any necessary acquisition of property for right-of-way is challenging, especially with so many owners. This criterion is met. Tax or Special Assessment Delinquency Taxes and special assessments were not evaluated for this report. This criterion is not met. Defective or Unusual Conditions of Title Conditions of title were not evaluated for this report. This criterion is not met. Existence of Conditions which Endanger Life or Property by Fire & Other Causes There are three conditions which may endanger life or property by fire or other causes. First, lack of bicycle and pedestrian infrastructure, especially with so many educational facilities near the southern portion of the Study Area, poses a risk of life to those who use alternative modes of transportation. This can be remediated with additional public infrastructure, including bike lanes and sidewalks or pathways. Second, also transportation related, is the over-abundance of access points on arterial roadways. This is especially prominent on the north side of Highway 33, west of the intersection with 12th West. Too many access points, especially on roads where traffic is moving at higher speeds, creates overlapping points of conflict where vehicles can potentially hit 23 12 13 each other. This issue is compounded by the curvature in the highway, reducing visibility just before hitting the highest concentration of access points. Third, there are several areas within the Study Area which are prone to flooding and a high water table. This poses a risk to future development of structures and infrastructure. These sites may require additional remediation to protect against such damages. This criterion is met. Arrests or Impairs the Sound Growth of the Municipality In areas that are developing, it is difficult to make a finding that conditions impair or arrest the sound growth of the municipality. In this case, however, there are conditions which do affect the growth of Rexburg. Sewer and water infrastructure is critical, not only to the Study Area but also, as noted by Public Works staff, development that is occurring to the north around the Teton River Temple site. Although some of that infrastructure exists, a major lift station, pressurized sewer main, and additional water mains to create a loop are required. In traditional Settings, development is usually expected to pay for these types of upgrades, with costs being shared by owners of lands on both sides of the main roadway. This would mean developers on both sides of 12th West, where much of the infrastructure is needed would share costs. However, of the nearly 8,000 feet of 12th West where infrastructure and road widening may be needed, there is almost no frontage where both sides of the road are developable, or both sides have sufficient lands to develop to the extent that such infrastructure investment would be feasible. On west side of the roadway there is over 2,500 lineal feet of land that is part of the river and likely undevelopable. On the east side of the roadway, over 3,500 feet of the frontage is covered by Teton Lakes Golf Course. This scenario makes bearing the cost of infrastructure equally by multiple developers nearly impossible. A public-private partnership will likely be required to successfully install the necessary infrastructure to support growth within and without the boundaries of the Study Area. This criterion is met. 24 1 4 Conditions which Retard Development of the Area AND Results in Economic Underdevelopment of the Area & 1 B Economic Disuse Similar to the above criterion, there are conditions which retard the development of the Study Area, resulting in economic underdevelopment and disuse. In summary, lack of critical public infrastructure, extreme challenges in widening arterial roads, a misaligned major intersection, too many access points along the arterials, and lack of opportunity to cost share among developers create major challenges for development of the Study Area. Although new development is occurring, based on conversations with City of Rexburg staff, development is reaching a point where it may not be able to continue at a normal pace without the assistance of a public-private partnership. These criteria are met. Conclusion The Study Area meets one or more of the roads, a misaligned major intersection, criteria for eligibility under ldaho Code too many access points along the Sections 50-2018(8) and (9) and arterials, and lack of opportunity to cost 50-2903(8). Though portions of the Study share among developers. Table 3 Area are actively being developed, there summarizes the findings of eligibility for are significant challenges created by the the study area, which is also provided in lack of critical public infrastructure, the executive summary. extreme challenges in widening arterial LOOKING NORTH ALONG 12TH WEST LOOKING NORTH ALONG 12TH WEST3 TABLE 3 Summary of Eligibility Criteria CRITERION CHARACTERISTICS Bn Sil MET SUPPORTING FINDING Substantial Deterioration Most existing development is older residential of Site homes, which are still In good condition. The site is also in generally good condition. Age or Obsolescence Commercial development is newer and residential homes are still functional and in good condition. There are issues with a misaligned Intersection, and extreme challenges with widening 12th West. Predominance of Defective Street Layout or Inadequate Street Layout Too many access points create slower speeds than designed. Lack of bicycle and pedestrian infrastructure is not reflective of development patterns in the Study Area. Outmoded Street Patterns The main intersection of the Study Area, Hwy 33 and 12th West, is misaligned and very difficult to correct and widen due to lack of right-of-way. This is the main connection to Rexburg to the east. Need for Correlation of Area with Other Areas of by Streets and Modern Traffic Requirements Faulty Lot Layout Areas with existing housing would require platting to establish developable lots. Unsuitable Topography Study Area is generally flat and challenges to development due to topography are limited. Too many access points along arterials creates unsafe traffic conditions. Lack of bicycle and pedestrian infrastructure on arterials is also unsafe. Insanitary or Unsafe Conditions The area northwest of the Hwy 33 and 12th West intersection has multiple owners that make redevelopment challenging. Ownership along the arterials is diverse, making road widening difficult. Diversity of Ownership Tax or Special Assessment Delinquency Not reviewed. Defective or Unusual Conditions of Title Not reviewed. 00 6 . 8 8 oO 8 8 8 @ 8 8B TABLE 3 Summary of Eligibility Criteria Cont. CRITERION CRITERION MET CHARACTERISTICS SUPPORTING FINDING Existence of Conditions Which Endanger Life or Property Impairs or Arrests the Sound Growth of a Municipality Retards Development of the Area Economic Underdevelopment and Economic Disuse 8° 9 8 8 Q Lack of bicycle and pedestrian infrastructure on arterials endangers life. Too many access points on arterials, especially near the curve in Hwy 33 creates overlapping points of conflict. Major infrastructure in the Study Area is required to support development both within and without the boundaries. There are major challenges to constructing these necessary components. The challenges to development have or will slow growth due to extreme costs and lack of opportunity for cost sharing. See above. 27 APPENDIX A: Additional Site Ph 28 APPENDIX A: Additional Site Ph 28 APPENDIX A: Additional Site Ph 28 APPENDIX A ADDITIONAL SITE PHOTOS 29 APPENDIX A ADDITIONAL SITE PHOTOS 29 APPENDIX A ADDITIONAL SITE PHOTOS 29 APPENDIX A ADDITIONAL SITE PHOTOS 30 APPENDIX A ADDITIONAL SITE PHOTOS 30 APPENDIX A ADDITIONAL SITE PHOTOS 30 APPENDIX A ADDITIONAL SITE PHOTOS 31 APPENDIX A ADDITIONAL SITE PHOTOS 31 APPENDIX A ADDITIONAL SITE PHOTOS 31 APPENDIX A ADDITIONAL SITE PHOTOS 32 APPENDIX A ADDITIONAL SITE PHOTOS 32 APPENDIX A ADDITIONAL SITE PHOTOS 32 APPENDIX A ADDITIONAL SITE PHOTOS EAST END OF FIREHOLE DRIVE 33 APPENDIX A ADDITIONAL SITE PHOTOS EAST END OF FIREHOLE DRIVE 33 APPENDIX A ADDITIONAL SITE PHOTOS EAST END OF FIREHOLE DRIVE 33 APPENDIX B: Steps in Creating a URA & Revenue Allocation Area (RAA) if an urban renewal agency is in existence in a community, the creation of an urban renewal area, including a revenue allocation area (required for use of tax increment financing), begins with an eligibility report for a designated area within the community, The central question for an eligibility report is whether the study area has at least one of the statutory characteristics which must be found to be considered eligible for urban renewal activities. These characteristics or criteria are: 1. The presence of a substantial number of deteriorated or deteriorating structures and deterioration of site [50-2018(9), 50-2903(8)(b) and (8){c), and 50-2008(d)(4)(2)], 2. Age or obsolescence [50-2018(8) and 50-2903(8)(a)], . 3. Predominance of defective or inadequate street layout [50-2018(9) and 50-2903(8)(b)], 4. Outmoded street patterns [50-2008(d)(4)(2)], 5. Need for correlation of area with other areas of municipality by streets and modern traffic requirements [50-2008(d)(4)(2)], 6. Faulty lot layout in relation to size, adequacy, accessibility, or usefulness; obsolete platting [50-2018(9), 50-2903(8)(b) and (8){c)}, and 50-2008(d)(4)(2)] 7. Unsuitable topography [50-2008(d)(4)(2)], 8. Insanitary or unsafe conditions [50-2018(9), 50-2903(8)(b)], 9. Diversity of ownership [50-2018(9), 50-2903(8)(b) and (8)(c), and 50-2008(d)(4)(2)], 10. Tax or special assessment delinquency [50-2018(9), 50-2903(8)(b)], and 50-2008 (d)(4)(2)] 11. Defective or unusual conditions of title [50-2018(9), 50-2903(8)(b) and (8)(c), and 50-2008(d)(4)(2)), 12. Existence of conditions which endanger life or property by fire and other causes [50-2018{9), 50-2903(8)(b)], , 13. Substantially impairs or arrests the sound growth of a municipality and is a menace to the public health, safety, morals or welfare [50-2018(9), 50-2903(8)(b) and 8(c)], 14. Conditions which retard development of the area [50-2008(d)(4)(2)], and 15. Results in economic underdevelopment of the area [S0-2903(8)(b)] and economic disuse [50-2008(d)(4}(2)]. If it is determined the Study Area has characteristics which meet one or more of the Statutory criteria listed above, the Agency may accept the eligibility report and request its consideration by the governing body. No URA can be formed unless the City Council adopts a resolution finding the area under consideration is deteriorated or deteriorating 34 due to such characteristics, the redevelopment of the area is necessary for the welfare of the residents, and the area is appropriate for an urban renewal project. The resolution approved by City Council authorizes the Agency to prepare a plan for the proposed urban renewal area. The urban renewal area plan is to include the following with specificity: 1. Astatement 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. Astatement 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. Adescription of the methods of financing all estimated project costs and the time when related costs or monetary obligations are to be incurred: 7. Atermination date for the plan and 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; 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; Once the plan is prepared and approved by RURA, it is forwarded to the City Council. Prior to the public hearing before the City Council, the City Council forwards the plan to the City Planning and Zoning Commission for its determination that the plan conforms to the City’s comprehensive plan. At least thirty (30) days prior to the public hearing, a copy of the notice and plan is distributed to the taxing entities overlapping the boundaries of the proposed district. After receiving the recommendation of the commission, and after notice fully published, the public hearing is held. The City Council must approve an urban renewal plan, including revenue allocation financing provisions, by an ordinance. If the ordinance is adopted by the City Council, a copy of the ordinance with legal description of the RAA is distributed to all the overlapping taxing entities, county officials and the State Tax Commission. By state statute, following adoption of the ordinance, the RAA is effective January 1, of the year in which it is. adopted. The RAA has a maximum life of twenty years under idaho statutes. The urban renewal agency implements the plan adopted by the City Council. 35 APPENDIX C: Open Lands Analysis The Study Area has been subject to recent development. There are portions of the Study Area which could be considered a traditional “greenfield” area and do not include agricultural land. Other portions of the Study Area, including areas that could be developed, contain agricultural uses. There are several parcels in both cases which are vacant and large enough for modern development. Idaho Code Section 50-2903(8)(c) states: “[a]ny 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.” The eligibility criteria set forth in Idaho Code Section 50-2903(8)(c) for predominantly open land areas mirror or are the same as those criteria set forth in Idaho Code Sections 50-2018(9) and 50-2903(8)(b). “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 the same or similar to “a substantial number of deteriorated or deteriorating structures” and “deterioration of site or other improvements.” There is also an additional qualification that the provisions of Idaho Code Section 50-2008(d) shall apply to open areas. Idaho Code Section 50-2008 primarily addresses the urban renewal plan approval process and Idaho Code Section 50-2008(d)(4) sets forth certain conditions and findings for acquisition of open land as follows: The urban renewal plan will afford maximum opportunity, consistent with the sound needs of the municipality as a whole, for the rehabilitation or redevelopment of the urban renewal area by private enterprise: provided, that if the urban renewal area consists of an area of open land to be acquired by the urban renewal agency, such area shall not be so acquired unless (1) if it is to be developed for residential uses, the local governing body shall determine that a shortage of housing of sound standards and design which is decent, safe and sanitary exists in the municipality; that the need for housing accommodations has been or will be increased as a result of the clearance of slums in other areas; that the conditions of blight in the area and the shortage of decent, safe and sanitary housing cause or contribute to an increase in and spread of disease and crime and constitute a menace to the public health, safety, morals, or welfare; and that the acquisition of the area for 36 residential uses is an integral part of and essential to the program of the municipality, or (2) if it is to be developed for nonresidential uses, the local governing body shall determine that such nonresidential uses are necessary and appropriate to facilitate the proper growth and development of the community in accordance with sound planning standards and local community objectives, which acquisition may require the exercise of governmental action, as provided In this act, because of defective or unusual conditions of title, diversity of ownership, tax delinquency, improper subdivision, outmoded street patterns, deterioration of site, economic disuse, unsuitable topography or faulty lot layouts, the need for the correlation of the area with other areas of a municipality by streets and moder traffic requirements, or any combination of such factors or other conditions which retard development of the area. In sum, there is one set of findings if the area of open land is to be acquired and developed for residential uses and a separate set of findings if the land is to be acquired and developed for nonresidential uses. Basically, open land areas may be acquired by an urban renewal agency and developed for nonresidential uses if such acquisition is necessary to solve various problems, associated with the land or the infrastructure, that have delayed the area’s 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 the stated conditions are included in one form or another in the definition of a deteriorated area and/or a deteriorating area set forth in Idaho Code Sections 50-2903(8)(b) and 50-2018(9). The conditions listed only in Section 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.” The conclusion of this discussion concerning open land areas is that the area qualifies if any of the eligibility conditions set forth in Idaho Code Sections 50-2018(9) and 50-2903(8)(b) apply. Alternatively, the area under consideration qualifies if any of the conditions listed only in Idaho Code Section 50-2008(d)(4)(2) apply. As set forth in greater detail above, there are conditions of faulty lot layout, diversity of ownership, defective street patterns, and certain unsafe conditions within the Study Area. Based on the above analysis, while the Study Area does appear to be “predominantly open land,” which is not a defined term, and contains “greenfield” and agricultural operations, there are conditions which qualify it for acquisition for non-residential uses if necessary. Therefore, the open tand condition is satisfied. 37 EXHIBIT B Rexburg Urban Renewal Agency Resolution No. 2025-03 dated October 15, 2025, Accepting the Eligibility Report (this Exhibit B does not exclude its Exhibit A as the Eligibility Report is attached as Exhibit A) 4818-8208-9154, v. 1 RESOLUTION NO. 531 - 6 RESOLUTION NO. 2025-03 BY THE BOARD OF COMMISSIONERS OF THE URBAN RENEWAL AGENCY OF REXBURG, IDAHO: A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE URBAN RENEWAL AGENCY OF THE CITY OF REXBURG, IDAHO, ACCEPTING THAT CERTAIN REPORT ON ELIGIBILITY FOR CERTAIN PROPERTY REFERRED TO AS THE WEST HIGHWAY DISTRICT AREA AS AN URBAN RENEWAL AREA AND REVENUE ALLOCATION AREA AND JUSTIFICATION FOR DESIGNATING THE AREA AS APPROPRIATE FOR AN URBAN RENEWAL PROJECT; TO MAKE ANY NECESSARY TECHNICAL CHANGES TO THE REPORT; AUTHORIZING AND DIRECTING THE CHAIR OR AGENCY ADMINISTRATOR TO TRANSMIT THE REPORT AND THIS RESOLUTION TO THE MADISON COUNTY BOARD OF COUNTY COMMISSIONERS AND THE CITY COUNCIL OF THE CITY OF REXBURG REQUESTING THEIR CONSIDERATION FOR DESIGNATION OF AN URBAN RENEWAL AREA AND SEEKING FURTHER DIRECTION FROM THE COMMISSION AND COUNCIL; AND PROVIDING AN EFFECTIVE DATE. THIS RESOLUTION, made on the date hereinafter set forth by the Urban Renewal Agency of the city of Rexburg, Idaho, an independent public body, corporate and politic, authorized under the authority of the Idaho 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”), a duly created and functioning urban renewal agency for Rexburg, Idaho, hereinafter referred to as the “Agency.” WHEREAS, by Resolution dated November 6, 1991, the City Council (the “City Council”) of the city of Rexburg (the “City”) created an urban renewal agency, pursuant to the Law, authorizing the Agency to transact business and exercise the powers granted by the Law and the Act upon making the findings of necessity required for creating the Agency; WHEREAS, the City Council, after notice duly published, conducted a public hearing on the Downtown District Redevelopment Plan (the “Downtown Plan”); WHEREAS, following said public hearing, the City Council adopted its Ordinance No. 910 on December 17, 2003, approving the Downtown Plan, making certain findings, and establishing the Downtown Plan revenue allocation area (the “Downtown Pian Project Area”); WHEREAS, the City Council, after notice duly published, conducted a public hearing on the University Boulevard-South 12 West Urban Renewal Plan (the “University Boulevard Plan”); RESOLUTION NO. 2025-03 - 1 WHEREAS, following said public hearing, the City Council adopted its Ordinance No. 996 on December 19, 2007, approving the University Boulevard Plan, making certain findings, and establishing the University Boulevard Plan revenue allocation area (the “University Boulevard Plan Project Area”); WHEREAS, the City Council, after notice duly published, conducted a public hearing on the Amended and Restated Downtown District Redevelopment Plan (the “Amended and Restated Downtown Plan”); WHEREAS, following said public hearing, the City Council adopted its Ordinance No. 1035 on December 2, 2009, approving the Amended and Restated Downtown Plan, making certain findings, and establishing the Amended and Restated Downtown Plan revenue allocation area (the “Amended and Restated Downtown Plan Project Area”); WHEREAS, the City Council, after notice duly published, conducted a public hearing on the Second Amended and Restated Downtown District Redevelopment Plan, Downtown Urban Renewal Project (the “Second Amended and Restated Downtown Plan”); WHEREAS, following said public hearing, the City Council adopted its Ordinance No. 1123 on November 5, 2014, approving the Second Amended and Restated Downtown Plan, making certain findings, and establishing the Second Amended and Restated Downtown Plan revenue allocation area (the “Second Amended and Restated Downtown Plan Project Area”); WHEREAS, the City Council, after notice duly published, conducted. a public hearing on the Urban Renewal Plan for the North Interchange Urban Renewal Project (the “North Interchange Plan”); WHEREAS, following said public hearing, the City Council adopted its Ordinance No. 1134 on December 2, 2015, approving the North Interchange Plan, making certain findings, and establishing the North Interchange Plan revenue allocation area (the “North Interchange Plan Project Area”); WHEREAS, the City Council, after notice duly published, conducted a public hearing on the Urban Renewal Plan for the North Central Urban Renewal Project (the “North Central Plan”); WHEREAS, following said public hearing, the City Council adopted its Ordinance No. 1242 on December 16, 2020, approving the North Central Plan, making certain findings, and establishing the North Central Plan revenue allocation area (the “North Central Plan Project Area”); WHERBAS, the above referenced urban renewal plans are collectively referred to as the “Existing Urban Renewal Plans,” and their respective existing revenue allocation project areas are collectively referred to as the “Existing Project Areas;” RESOLUTION NO. 2025-03 - 2 WHEREAS, it has become apparent that additional property, a portion of which is located within the City, and a portion of which is located within the City’s area of operation and within unincorporated Madison County, may be deteriorating or deteriorated and should be examined as to whether such an area is eligible for an urban renewal project; WHEREAS, the Agency engaged the services of Brad Cramer, Perspective Planning & Consulting LLC, to commence an eligibility study and preparation of an eligibility report of an area approximately 840 acres in size and is generally bounded by 1000 South on the south, U.S. Highway 20 on the east, 3000 West on the west and 2000 North on north. Collectively this area is referred to as the “West Highway District Study Area.” WHEREAS, the Agency has obtained The West Highway District Eligibility Report (the “Eligibility Report”), a copy of which is attached hereto as Exhibit A, which examined the West Highway District Study Area, which area also included teal property located within unincorporated Madison County, for the purpose of determining whether such area was a deteriorating area or a deteriorated area as defined by Idaho Code Sections 50-2018(8), (9) and 50-2903(8); WHEREAS, pursuant to Idaho Code Sections 50-2018(8), (9) and 50-2903(8), which define the qualifying conditions of a deteriorating area and a deteriorated area, many of the conditions necessary to be present in such an area are found in the West Highway District Study Area, including; a. predominance of defective or inadequate street layout, b. outmoded street pattems; c. need for correlation of area with other areas of by streets and modern traffic requirements; d. faulty lot layout in relation to size, adequacy, accessibility or usefulness; obsolete platting; insanitary or unsafe conditions; diversity of ownership; existence of conditions which endanger life or property by fire and other causes; substantially impairs or arrests the sound growth of a municipality; conditions which retard development of the area; and results in economic underdevelopment of the area and economic disuse. “r e oa q rh o WHEREAS, the West Highway District Study Area includes open space/open land; WHEREAS, under the Act, a deteriorated area includes any area which is predominantly 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. See Idaho Code § 50- 2903(8)(c); WHEREAS, Idaho Code §§ 50-2018(8), (9), 50-2903(8) and 50-2008(d) list additional conditions applicable to open land areas, including open land areas to be acquired by the Agency, which are the same or similar to the conditions set forth in the definitions of “deteriorating area” and “deteriorating area;” RESOLUTION NO. 2025-03 -3 WHEREAS, the Report addresses the findings conceming the eligibility of open land within the Study Area as defined in Idaho Code Sections 50-2018(9), 50-2903(8)(c), and 50- 2008(d); WHEREAS, the effects of the listed conditions cited in the Eligibility Report result in economic underdevelopment of the areas, substantially impairs or arrests the sound growth of a municipality, constitutes an economic or social liability, and is a menace to the public health, safcty, morals, or welfare in its present condition or use; WHEREAS, under the Law, Sections 50-2903(8\(£) and 50-2018(8) and (9), the definition of a deteriorating area shall not apply to any agricultural operation as defined in section 22-4502(2) Idaho Code, absent the consent of the owner of the agricultural operation except for an agricultural operation that has not been used for three (3) consecutive years; WHEREAS, the West Highway District Study Area includes parcels subject to such consent. While the necessary consents have not been obtained, any and all consents shall be obtained prior to City Council consideration of any urban renewal plan; WHEREAS, the Eligibility Report includes a preliminary analysis concluding the base assessment roll value for the West Highway District Study Area together with the combined base assessment roll values for the Existing Project Areas do not exceed 10% of the current assessed valuation of all taxable property within the City; WHEREAS, Idaho Code Section 50-2018(18) states that an urban renewal agency cannot exercise jurisdiction over any area outside the city limits without the approval of the other city or county declaring the need for an urban renewal plan for the proposed area; WHEREAS, a portion of the West Highway District Study Area includes certain real property located within unincorporated Madison County; WHEREAS, the Madison County Board of County Commissioners will be asked to adopt a resolution finding the need for an urban renewal project for the proposed West Highway District Study Area; WHEREAS, pursuant to Idaho Code Section 50-2008, an urban renewal project may not be planned or initiated unless the local governing body has, by resolution, determined such area to be a deteriorated area or deteriorating area, or combination thereof, and designated such area as appropriate for an urban renewal project; WHEREAS, Idaho Code Section 50-2906 also requires that in order to adopt an urban renewal plan containing a revenue allocation financing provision, the local governing body must make a finding or determination that the area included in such plan is a deteriorated area or deteriorating area. WHEREAS, the Agency Board finds it in the best public interest to accept the Report. RESOLUTION NO. 2025-03 - 4 NOW, THEREFORE, BE IT RESOLVED BY THE MEMBERS OF THE BOARD OF COMMISSIONERS OF THE REXBURG URBAN RENEWAL AGENCY, REXBURG, IDAHO: Section 1. That the above statements are true and correct. Section 2. That the Agency Board acknowledges acceptance and receipt of the Eligibility Report, attached hereto as “EXHIBIT A”, recognizing technical changes or corrections which may be required before transmittal to Madison County Board of County Commissioners and the City Council for its consideration. Section 3, That there are one or more areas within the City, or the City’s area of operation, and within unincorporated Madison County, which are deteriorating or deteriorated areas as defined by Idaho Code, Sections 50-2018(8), (9) and 50-2903(8), and as more fully set forth in the Eligibility Report, attached hereto as Exhibit A. Section 4, That one such area is an area more commonly known as the West Highway District Study Area, which area is approximately 840 acres in size, and is generally bounded by 1000 South on the south, U.S. Highway 20 on the east, 3000 West on the west and 2000 North on north. Section 5. That the rehabilitation, conservation, development, and redevelopment, or a combination thereof, of such area is necessary in the interest of the public health, safety, and welfare of the residents of the City. Section 6. That the Chair of the Agency Board of Commissioners and the Administrator are hereby authorized to transmit the Eligibility Report to the City Council requesting that the City Council: a, Determine whether the West Highway District Study Area identified in the Eligibility Report qualifies as an urban renewal project and there is justification for designating the area, as appropriate, for an urban renewal project; provided, however, the Agency requests the City Council not take such action until Madison County has approved a resolution declaring the need for an urban renewal project for the West Highway District Study Area; b. If such designation is made, whether the Agency should proceed with the preparation of an urban renewal plan for the area, which plan may include a revenue allocation provision as allowed by law. Cc. Coordinate with the Agency to obtain any necessary agricultural operation consents from the property owners. Section 7. That the Chair of the Agency Board of Commissioners and the Administrator are hereby authorized to transmit the Eligibility Report to the Madison County Board of County Commissioners for its consideration pursuant to Idaho Code Section 50- 2018(18). RESOLUTION NO. 2025-03 - 5 Section 8. That this Resolution shall be in full force and effect immediately upon its adoption and approval. PASSED by the Urban Renewal Agency of Rexburg, Idaho, on October 15, 2025. Signed by the Chair of the Board of Commissioners, and attested by the Secretary to the Board of Commissioners, on October 15, 2025. APPROVED: ATTEST: By Wr Kdndulh Prikl Randall Porter, Secretary -3026-5380, v. 3 RESOLUTION NO. 2025-03 - 6 EXHIBIT A WEST HIGHWAY DISTRICT ELIGIBILITY REPORT 4814-1356-7938, v. 1 RESOLUTION NO. 2025-03 -7 EXHIBIT A WEST HIGHWAY DISTRICT ELIGIBILITY REPORT 4814-1356-7938, v. 1 RESOLUTION NO. 2025-03 -7 Attachment 8 Rexburg City Council Resolution No. 2025-12 (eligibility) (Does not include the exhibits — see Attachment 7 for the Exhibits) Attachment 8 Rexburg City Council Resolution No. 2025-12 (eligibility) (Does not include the exhibits – see Attachment 7 for the Exhibits) Instrument # 471232 REXBURG, MADISON, IDAHO 11-24-2025 12:45:23 PM No. of Pages: 58 Recorded for : CITY OF REXBURG KIM H. MUIR Fee: 0.00 Ex-Officio Recorder Deputy RESOLUTION NO. 2025-12 BY THE COUNCIL: A RESOLUTION BY THE CITY COUNCIL OF THE CITY OF REXBURG, IDAHO, DETERMINING A CERTAIN AREA WITHIN THE CITY, AND WITHIN THE CITY’S AREA OF OPERATION, TO BE A DETERIORATED AREA AND/OR A DETERIORATING AREA AS DEFINED BY IDAHO CODE SECTIONS 50-2018(8), (9) AND 50-2903(8); DIRECTING THE URBAN RENEWAL AGENCY OF THE CITY 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 PART OF THE AREA; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the Council and Mayor of the City of Rexburg, Idaho, 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 Idaho 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 (the “City Council”) of the city of Rexburg, Idaho (the “City”), after notice duly published, conducted a public hearing on the Downtown District Redevelopment Plan (the “Downtown Plan’”’); WHEREAS, following said public hearing, the City Council adopted its Ordinance No. 910 on December 17, 2003, approving the Downtown Plan, making certain findings, and establishing the Downtown Plan revenue allocation area (the “Downtown Plan Project Area”); WHEREAS, the City Council, after notice duly published, conducted a public hearing on the University Boulevard-South 12th West Urban Renewal Plan (the “University Boulevard Plan”); WHEREAS, following said public hearing, the City Council adopted its Ordinance No. 996 on December 19, 2007, approving the University Boulevard Plan, making certain findings, and establishing the University Boulevard Plan revenue allocation area (the “University Boulevard Plan Project Area’); WHEREAS, the City Council, after notice duly published, conducted a public hearing on the Amended and Restated Downtown District Redevelopment Plan (the “Amended and Restated Downtown Plan’’); RESOLUTION NO. 2025-12 - 1 WHEREAS, following said public hearing, the City Council adopted its Ordinance No. 1035 on December 2, 2009, approving the Amended and Restated Downtown Plan, making certain findings, and establishing the Amended and Restated Downtown Plan revenue allocation area (the “Amended and Restated Downtown Plan Project Area”); WHEREAS, the City Council, after notice duly published, conducted a public hearing on the Second Amended and Restated Downtown District Redevelopment Plan, Downtown Urban Renewal Project (the “Second Amended and Restated Downtown Plan”); WHEREAS, following said public hearing, the City Council adopted its Ordinance No. 1123 on November 5, 2014, approving the Second Amended and Restated Downtown Plan, making certain findings, and establishing the Second Amended and Restated Downtown Plan revenue allocation area (the “Second Amended and Restated Downtown Plan Project Area’); WHEREAS, the City Council, after notice duly published, conducted a public hearing on the Urban Renewal Plan for the North Interchange Urban Renewal Project (the “North Interchange Plan”); WHEREAS, following said public hearing, the City Council adopted its Ordinance No. 1134 on December 2, 2015, approving the North Interchange Plan, making certain findings, and establishing the North Interchange Plan revenue allocation area (the “North Interchange Plan Project Area”); WHEREAS, the City Council, after notice duly published, conducted a public hearing on the Urban Renewal Plan for the North Central Urban Renewal Project (the “North Central Plan”); WHEREAS, following said public hearing, the City Council adopted its Ordinance No. 1242 on December 16, 2020, approving the North Central Plan, making certain findings, and establishing the North Central Plan revenue allocation area (the “North Central Plan Project Area’’); WHEREAS, the above referenced urban renewal plans are collectively referred to as the “Existing Urban Renewal Plans,” and their respective existing revenue allocation project areas are collectively referred to as the “Existing Project Areas;” WHEREAS, it has become apparent that additional property, a portion of which is located within the City, and a portion of which is located within the City’s area of operation and within unincorporated Madison County, may be deteriorating or deteriorated and should be examined as to whether such an area is eligible for an urban renewal project; WHEREAS, the Agency engaged the services of Brad Cramer, Perspective Planning & Consulting LLC, to commence an eligibility study and preparation of an eligibility report of an area approximately 840 acres in size and is generally bounded by 1000 South on the south, U.S. Highway 20 on the east, 3000 West on the west and 2000 North on north. Collectively this area is referred to as the “West Highway District Study Area.” RESOLUTION NO. 2025-12 - 2 WHEREAS, the Agency obtained The West Highway District Eligibility Report (the “Eligibility Report”), a copy of which is attached hereto as Exhibit A, which examined the West Highway District Study Area, which area also included real property located within unincorporated Madison County, for the purpose of determining whether such area was a deteriorating area and/or a deteriorated area as defined by Idaho Code Sections 50-2018(8), (9) and 50-2903(8); WHEREAS, pursuant to Idaho Code Sections 50-2018(8), (9) and 50-2903(8), which define a deteriorating area and a deteriorated area, many of the qualifying conditions necessary to be present in such an area are found in the West Highway District Study Area, including; a. predominance of defective or inadequate street layout, outmoded street patterns; re need for correlation of area with other areas of by streets and modern traffic requirements; d. faulty lot layout in relation to size, adequacy, accessibility or usefulness; obsolete platting; insanitary or unsafe conditions; diversity of ownership; existence of conditions which endanger life or property by fire and other causes; substantially impairs or arrests the sound growth of a municipality; conditions which retard development of the area; and results in economic underdevelopment of the area and economic disuse. “B e g a rh o WHEREAS, the West Highway District Study Area includes open space/open land; WHEREAS, under the Act, a deteriorated area includes any area which is predominantly 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. See Idaho Code § 50-2903(8)(c); WHEREAS, Idaho Code §§ 50-2018(8), (9), 50-2903(8) and 50-2008(d) list additional conditions applicable to open land areas, including open land areas to be acquired by the Agency, which are the same or similar to the conditions set forth in the definitions of “deteriorating area” and “deteriorating area;” WHEREAS, the Eligibility Report addresses the findings concerning the eligibility of open land within the West Highway District Study Area as defined in Idaho Code Sections 50-2018(9), 50-2903(8)(c), and 50-2008(d); WHEREAS, the effects of the listed conditions cited in the Eligibility Report result in economic underdevelopment of the area, substantially impairs or arrests the sound growth of a municipality, constitutes an economic or social liability, and is a menace to the public health, safety, morals, or welfare in its present condition or use; WHEREAS, under the Law and Act, Idaho Code Sections 50-2903(8)(f) and 50-2018(8) and (9), the definition of a deteriorating area shall not apply to any agricultural operation as defined in section 22-4502(2) Idaho Code, absent the consent of the owner of the agricultural operation except for an agricultural operation that has not been used for three (3) consecutive years; RESOLUTION NO. 2025-12 - 3 WHEREAS, the West Highway District Study Area includes parcels subject to such consent. While the necessary consents have not been obtained, any and all consents shall be obtained prior to City Council consideration of any urban renewal plan; WHEREAS, the Agency, on October 15, 2025, adopted Resolution No. 2025-03 (a copy of which is attached hereto as Exhibit B and incorporated herein by this reference, without attachments thereto) accepting the Eligibility Report and authorizing the Chair and Administrator of the Agency to transmit the Eligibility Report to the City Council requesting its consideration for designation of an urban renewal area and requesting the City Council to direct the Agency to prepare an urban renewal plan for the West Highway District Study Area, which plan may include a revenue allocation provision as allowed by law; WHEREAS, the Agency also authorized the transmittal of the Eligibility Report to the Madison County Board of County Commissioners for the purpose of obtaining a resolution determining such area to be deteriorated and/or deteriorating and appropriate for an urban renewal project; WHEREAS, Idaho Code Section 50-2018(18) states that an urban renewal agency cannot exercise jurisdiction over any area outside the city limits without the approval of the other city or county declaring the need for an urban renewal plan for the proposed area; WHEREAS, a portion of the West Highway District Study Area includes certain real property located within the City’s area of operation and within unincorporated Madison County; WHEREAS, the Agency submitted Agency Resolution No. 2025-03 and the Eligibility Report to the Madison County Board of County Commissioners, and the Commissioners were asked to adopt a resolution finding the need for an urban renewal project for the proposed West Highway District Study Area; WHEREAS, on October 27, 2025, representatives of the City and the Agency presented the Eligibility Report to the Madison County Board of County Commissioners requesting the Commissioners to consider adopting the findings concerning the proposed West Highway District Study Area; WHEREAS, on October 27, 2025, the Madison County Board of County Commissioners pursuant to Resolution No. 531 found the West Highway District Study Area to be in need of an urban renewal project area, which Resolution is attached hereto as Exhibit C, without the exhibits attached thereto; WHEREAS, the Eligibility Report includes a preliminary analysis concluding the base assessment roll value for the West Highway District Study Area together with the combined base assessment roll values for the Existing Project Areas do not exceed 10% of the current assessed valuation of all taxable property within the City; WHEREAS, pursuant to Idaho Code Section 50-2008, an urban renewal project may not be planned or initiated unless the local governing body has, by resolution, determined such area to RESOLUTION NO. 2025-12 - 4 be a deteriorated area or deteriorating area, or combination thereof, and designated such area as appropriate for an urban renewal project; WHEREAS, Idaho Code Section 50-2906, also requires that in order to adopt an urban renewal plan containing a revenue allocation financing provision, the local governing body must make a finding or determination that the area included in such plan is a deteriorated area or a deteriorating area; WHEREAS, it is desirable and in the best public interest that the Agency prepare an urban renewal plan for the area identified as the West Highway District Study Area in the Eligibility Report located in the city of Rexburg, and within the City’s area of operation and in unincorporated Madison County; NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COUNCIL OF THE CITY OF REXBURG, IDAHO: Section 1. That the City Council acknowledges acceptance and receipt of the Eligibility Report. Section 2. That the City Council finds and declares there are one or more areas within the City, and within the City’s area of operation, which are deteriorating or deteriorated areas as defined by Idaho Code Sections 50-2018(8), (9) and 50-2903(8). Section 3. That the City Council finds and declares that the West Highway District Study Area identified in the Eligibility Report, attached hereto as Exhibit A and made a part hereof by reference, is a deteriorated area and/or a deteriorating area existing in the City and the City’s area of operation, as defined in Title 50, Chapters 20 and 29, Idaho Code, as amended, and qualifies for an urban renewal project and justification exists for designating the area as appropriate for an urban renewal project. Section 4. That the City Council finds and declares there is a need for the Agency, an urban renewal agency, to function in accordance with the provisions of Title 50, Chapters 20 and 29, Idaho Code, as amended, within a designated area for the purpose of establishing an urban renewal plan. Section 5. That the rehabilitation, conservation, development and redevelopment, or a combination thereof, of such area is necessary and in the interest of the public health, safety, and welfare of the residents of the City. Section 6. Based on the Eligibility Report, the City Council makes the findings that: a. The West Highway District Study Area identified in the Eligibility Report is determined to be a deteriorating area as defined by Idaho Code, Section 50-2018(9) and 50-2903(8) and/or a deteriorated area as defined by Idaho Code, Section 50- 2018(8) and 50-2903(8); b. The West Highway District Study Area identified in the Eligibility Report is determined to be appropriate for an urban renewal project. RESOLUTION NO. 2025-12 - 5 Section 7. That the area identified as the West Highway District Study Area in the Eligibility Report includes certain properties within the City’s area of operation and within unincorporated Madison County. The Madison County Board of County Commissioners has adopted a resolution finding the need for an urban renewal project for the proposed West Highway District Study Area consistent with Idaho Code Section 50-2018(18). Section 8. That the City Council hereby directs the Agency to commence the preparation of an urban renewal plan for the West Highway District Study Area described in the Eligibility Report for consideration by the Agency Board and, if acceptable, final consideration by the City Council in compliance with Title 50, Chapters 20 and 29, Idaho Code, as amended. Section 9. That in the event the parcels located within unincorporated Madison County are included in any proposed urban renewal plan or revenue allocation area, the City Council will seek to obtain an agreement with Madison County, Idaho, as required by Idaho Code Section 50- 2906(3)(a)(ii). Section 10. That City and Agency staff shall obtain the necessary agricultural operation consents from the property owner(s) prior to City Council consideration of an urban renewal plan. Section11. That this Resolution shall be in full force and effect immediately upon its adoption and approval. ADOPTED By the Council of the City of Rexburg, Idaho, this 18" day of November 2025. APPROVED By the Mayor of the City of Rexburg, Idaho, this 18" day of November 2025. APPROVED: / 4 uf VA MAYOR ATTEST: [L* Vi C Tyee te Can iy, CITY CLERK LS) OW OE REM Y O% ww RESOLUTION NO. 2025-12 - 6 Attachment 9 Madison County Board of County Commissioners Ordinance No. (Intergovernmental Agreement and Transfer of Powers Ordinance) 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