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Agency authorizes up to $2.58 million reimbursement for River Commons site remediation, subordinate to existing loans
Summary
The Urban Renewal Agency of Idaho Falls approved Resolution 2025-05 authorizing a grant participation reimbursement agreement with SRL Development LLC for remediation in the River Commons project area, capped at $2,575,850.
The Urban Renewal Agency of Idaho Falls on Wednesday approved Resolution 2025-05 authorizing the agency to enter into a grant participation reimbursement agreement with SRL Development LLC for remediation work in the River Commons project area.
Megan, a staff member, told commissioners the proposed agreement sets a not-to-exceed reimbursement amount of $2,575,850 and is structured similarly to the agency's standard owner participation agreements. She said reimbursement is contingent on the availability of non-obligated agency funds in the district after payment of senior…
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