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Council approves Snake River West urban renewal district after feasibility study finds tax increment can cover improvements
Summary
The council approved the Snake River West Urban Renewal Plan. A consultant’s feasibility analysis found tax‑increment revenues would cover roughly $5.5 million in requested developer reimbursements under conservative assumptions; a hotel or other higher‑value development would accelerate repayment and increase residual funds.
The Idaho Falls City Council approved the Snake River West Urban Renewal Plan and its revenue allocation provisions after reviewing an economic feasibility study presented by the redevelopment consultant.
Consultant Brad Kramer summarized the feasibility work: the study modeled a developer request for approximately $5.5 million in eligible public infrastructure costs (roadwork,…
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