HomeMy WebLinkAboutOT2 Presentation 20230821.pptx
Urban Renewal Plan for the August 21, 2023 The Urban Renewal Agency of the City of Twin Falls Urban Renewal Project2 -Old Towne
Plan Approval Process and City Clerk to take the necessary action to process the Plan2 Urban Renewal Project recommending approval of the Plan and directing transmittal of the Plan to
Mayor -TowneAgency Board considers adoption of Resolution approving the Urban Renewal Plan for the Old –September 18, 2023 •provides input for revisions2 Urban Renewal Project and -Agency
Board reviews draft Urban Renewal Plan for the Old Towne–August 21, 2023 •preparation of a plan002, adopting the Report and directs Agency to commence -City Council adopts Resolution
No. 2023–February 6, 2023 •Council for consideration(Proposed) Eligibility Report, prepared by Phil Kushlan, Kushlan Associates, and the Report is forwarded to the City 2 Revenue Allocation
Area -02 accepting the Old Towne-Agency Board adopted Resolution No. 2023–January 30, 2023 •to date–
Plan Elements Section 800•allocation funds to operate and manage such assets.than revenue herprevent the agency from retaining assets or revenues generated from such assets as long as
the agency shall have resources oting herein shall A description of the disposition or retention of any assets of the agency upon the termination date. Provided however, noth(8)Section
800•revenue allocation provision described in the urban renewal plan; andhe last year of the g ttermination date, the plan shall recognize that the agency shall receive allocation of
revenues in the calendar year followinrmining the 2903(20), Idaho Code. In dete-A termination date for the plan and the revenue allocation area as provided for in section 50(7)5.5-Sections
303, 304, 309, 501, 502, 504 and Attachments 5.1•incurred;ns are to be A description of the methods of financing all estimated project costs and the time when related costs or monetary
obligatio(6)5.5-Section 502.8 and Attachments 5.1•districts levying taxes upon property on the revenue allocation area;n all taxing A fiscal impact statement showing the impact of the
revenue allocation area, both until and after the bonds are repaid, upo(5)Attachments 5.1, 5.2•A detailed list of estimated project costs;(4)5.5)-Attachment 5.2 (supported by Attachments
5.1, 5.3•An economic feasibility study;(3)5.5-Section 301 and Attachments 5.1•ion area;A statement listing the kind, number, and location of all proposed public works or improvements
within the revenue allocat(2) Section 502.3•valuation of all taxable property within the municipality; al assessed A statement describing the total assessed valuation of the base assessment
roll of the revenue allocation area and the tot(1) 2905 identifies what information the Plan must include with specificity as follows:-50§Idaho Code
10% Valuation Analysis 2022 Certified Values–
Public Infrastructure Total$113,025,000GasNatural$ 3,500,000PowerElectric$ 3,500,000ArtPublic$ 1,375,000AcquisitionProperty$18,650,000SpaceOpenandParks$18,000,000Sewer$8,000,000Water$8,000,
000ParkingPublic$10,000,000Streetscapes$21,000,000Management)Stormwater(includingStreets$21,000,000 ListImprovementsPublicDistrict2TowneOld Projects and Costs
Revenue Projections Assumptions-
Post Exceptions•Base reset•2903A-I.C. 50–Limitations on Amendments to the Plan •Plan and RAAJuly 1, 2016, -
Other ROW in City limits; no agreement is necessaryCity has maintenance obligations for –Overlaps with highway district •In progress–Agricultural Operation Consents •
Items to be updated Agricultural Operation Consents–Attachment 6 •zoning/land use maps–Attachment 4 •legal description–Attachment 2 •boundary map–Attachment 1 •
Next Steps districts. Deadline to complete tasks 12/31/2023and affected taxing STCrecorded map/legal; transmittal of documents to County officials, Thereafter: publication of the ordinance
summary; recordation of ordinance and separately •ordinance readingsCity Council public hearing, consider public comment, and City Council –•Second notice of public hearing to be published
in the Times News–November 2, 2023 •Plan to be received by the affected taxing districtsNotice of public hearing to be published in the Times News and deadline for –October 19, 2023
•conforms to the City’s Comprehensive Plan (Resolution)City Planning and Zoning Commission meeting to find the proposed Plan –October 10, 2023 •necessary action to process the Planapproval
of the Plan, and directing transmittal of the Plan to Mayor and City Clerk to take the 2 Urban Renewal Project, recommending -approving the Urban Renewal Plan for the Old TowneUrban
Renewal Agency Board meeting to consider adoption of Resolution –September 18, 2023 •