Idaho Falls redevelopment agency approves $235,000 payout to Jackson Hall Junction developer, advances three urban-renewal projects

Idaho Falls — The Idaho Falls Redevelopment Agency on Thursday approved a $235,000 payout to the developer of Jackson Hall Junction to accelerate repayment under the project’s owner participation agreement (OPA) and set a $20,000 annual administrative draw for that tax-increment finance district. The board also approved a memorandum of understanding for the proposed Skyline and Broadway urban renewal area, authorized a task order for an eligibility report and adopted a resolution forwarding the Riverwalk urban renewal plan.

The payout and administrative cap were the product of a lengthy staff presentation and developer briefing led by consultant Brad Kramer and developer representatives, who said updated property valuations and delinquent-tax collections had improved the district’s cash flow. Kramer told the agency the district’s remaining OPA balance was about $2.8 million and that, based on updated receipts and conservative modeling, paying down the agency’s accrued balance to $50,000 and releasing roughly $235,000 to the developer would still leave the agency funds available for other eligible projects.

Why it matters: The Jackson Hall Junction decision changes how remaining incremental revenues would be handled during the final years of that district. The board’s action accelerates reimbursement to the developer while limiting the agency’s ongoing annual administrative draw; it also declines a proposal to share revenues that might be received in the calendar year after the district’s formal termination.

Agency discussion and decision

Brad Kramer summarized analysis he prepared at the developer’s request, saying the district has added roughly $75 million in incremental value and that a number of higher-value parcels—particularly the Pioneer Apartments—had not yet fully appeared on assessment rolls. He said he worked with the county assessor to correct valuation entries and that some delinquent taxes had been resolved, improving the outlook for the $4 million maximum payout called for in the OPA.

Kramer outlined three amendment requests from the developer: (1) allow revenues received after the OPA termination date to be counted toward the $4 million cap; (2) replace a flat $50,000 annual agency draw with a rule that collects only enough revenue to cover the agency’s documented annual expenses (with a suggested floor such as $50,000); and (3) apply accrued district funds (currently about $285,000) to reduce the agency balance and pay the developer now (roughly $235,000) while retaining a modest operating balance.

Agency staff and several commissioners expressed concern about precedent and the impact on other districts. Legal counsel and staff noted that most OPAs terminate at the plan’s end date and that sharing a final trailing year of collections with a developer would be a notable break from agency practice. Megan (agency staff) told commissioners that, by policy and prior practice, the agency typically does not allocate post-termination wind-up receipts to owner reimbursement without a clear policy change.

After extended discussion on three discrete elements—(a) a fixed annual administrative amount to retain for district administration, (b) whether to permit collection of revenues received after the district’s formal termination year, and (c) whether to pay down the agency’s accrued balance and advance funds to the developer now—the board voted to: (1) authorize a $235,000 payment from agency reserves to the Jackson Hall Junction developer, and (2) cap annual administrative draws for that district at $20,000. The board declined to authorize sharing the district’s post-termination (2031) revenues with the developer, leaving that question for future consideration if needed. The motion passed on a roll-call vote with all commissioners recorded as voting “yes.”

Developer remarks

Matt Morgan, representing the project team and the Kingston family (owner/developer), described the development as a successful, largely built-out project that had encountered pandemic-related setbacks including the loss of an anchor theater tenant and higher-than-expected construction costs. Morgan thanked the board for consideration of the amendment requests and said the developer was hopeful the changes would help repay original investments.

Other agency actions

The agency approved Resolution 2025-12, authorizing execution of a memorandum of understanding with Kingston Properties LP to pursue a proposed Skyline and Broadway urban renewal district. Agency staff said the MOU differs from prior MOUs primarily in payment timing: certain fees (an eligibility-phase fee and a larger fee for later work) are now structured as one-time, upfront payments to the city for accounting clarity. The board voted to approve the MOU and directed staff to complete technical edits.

The board also approved Task Order No. 13, authorizing consultant Brad Kramer to prepare the eligibility report for the Skyline/Broadway area at an anticipated cost of $8,000.

Finally, the board adopted Resolution 2025-15 recommending and adopting the Riverwalk urban renewal plan, including revenue-allocation financing provisions subject to conditions and technical edits. Staff and Kramer presented updated cost estimates and corrected a spreadsheet error from the prior month’s materials; under a conservative revenue scenario at a 75% OPA share the plan comes very close to paying off over its 20-year horizon and, under a more moderate revenue growth assumption, would pay off in the 20th year of the district.

Votes at a glance

- Motion to approve minutes of the Sept. 18, 2025 meeting: approved (unanimous). - Motion to approve October expenditures and finance report: approved (unanimous). - Motion to approve audit engagement letter with Running Company (audit firm): approved (unanimous); staff discussion noted the engagement was the standard annual audit and the estimate discussed was $15,500. - Motion to authorize a $235,000 payout to Jackson Hall Junction developer and set a $20,000 annual administrative draw; declined to adopt a post-termination revenue-sharing amendment: approved (roll-call, all recorded yes). - Resolution 2025-12 (approve MOU with Kingston Properties LP for Skyline & Broadway urban renewal project): approved (unanimous). - Task Order No. 13 (authorize Brad Kramer to prepare eligibility report for Skyline & Broadway): approved (unanimous); anticipated cost $8,000. - Resolution 2025-15 (recommend/adopt Riverwalk Urban Renewal Plan, subject to technical edits): approved (unanimous).

What’s next

Staff and counsel were directed to finalize technical edits to the Skyline/Broadway MOU, proceed with the eligibility report under Task Order No. 13, and implement the Jackson Hall Junction payout and administrative cap as directed. The agency’s next regular meeting is scheduled for Nov. 20, 2025.

(Quotations in this report are from meeting remarks by Brad Kramer, Matt Morgan and Megan as recorded in the Oct. 16, 2025 meeting transcript.)