Redevelopment Agency approves publication of draft FY2026 budget; task orders for two district studies approved

The Idaho Falls Redevelopment Agency accepted minutes from its June 18 meeting, approved the agency expenditure and finance report, and voted unanimously to publish the proposed fiscal year 2026 budget for a public hearing on Aug. 21, the agency said at its July 17 meeting.

Agency staff presented the draft budget and worksheets showing revenues and expenditures for existing and newly added districts. "We have added the Riverwalk as well as the Riverside Districts to our budget worksheet this year," said Cassie, an agency staff member who walked the board through the revenue and expenditure assumptions. Cassie told the board she used recent collections as a conservative basis for property-tax projections and estimated interest at 2% of available cash balances.

The agency also approved two consultant task orders authorizing Brad Kramer, a consultant under an existing personal services agreement, to begin work: Task Order 11 for an eligibility/economic feasibility study related to the proposed Riverside district (identified in discussion as Ball Ventures South) and Task Order 12 to prepare an economic feasibility study for the Riverwalk area, including analysis of hotel-generated property tax revenue. "There is a personal services agreement with Mister Kramer and when different scopes of work come up related to these urban renewal plans we memorialize them in a task order," said Megan, agency staff, describing the authorization the task orders provide.

Board members asked staff for clarifications on revenue assumptions and how committed capital-project funds and owner participation agreement (OPA) payments are reflected in the draft. Cassie said OPA payments were calculated by applying the OPA percentages to the projected property-tax receipts, and that some OPAs for recently added districts remained draft documents. The board also discussed a previously committed capital expense associated with River Commons (referred to during the meeting as a $2.442 million committed expense to "move the rock"), and staff confirmed that committed expense is reflected in the capital projects line.

Motion outcomes recorded at the meeting included acceptance of meeting minutes, approval of the expenditure finance report, authorization to publish the FY2026 proposed budget and notice of public hearing, and approval of Task Orders 11 and 12. Chair, Redevelopment Agency, closed the motion to publish the budget by saying, "Motion passes unanimously. Thank you, Cassie, for your hard work on that." The agency will hold the public hearing on Aug. 21 as noticed.

Votes at a glance Accept minutes (06/18/2025) — Motion to accept minutes: passed (recorded as aye; individual names not specified in transcript). Approve expenditure/finance report — Motion passed (recorded as aye; individual names not specified in transcript). Authorize publication of draft FY2026 budget and set public hearing (Aug. 21) — Motion passed unanimously. Approve Task Order 11 (eligibility/economic feasibility study for Riverside/Ball Ventures South; authorizes Brad Kramer to begin scope) — Motion passed unanimously. Approve Task Order 12 (economic feasibility study for Riverwalk, including hotel tax analysis; authorizes Brad Kramer to begin scope) — Motion passed unanimously.

The board directed staff to publish the budget notice and proceed with the consultant task orders; details from the approved worksheets and OPAs will be available in staff materials leading up to the Aug. 21 public hearing.

Ending: The board scheduled its next meeting for Aug. 21 to conduct the public hearing on the FY2026 budget.