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Idaho Falls council adopts Riverwalk urban renewal plan to spur roughly $40M in private investment
Summary
The City Council approved a 20-year Riverwalk Urban Renewal District to support infrastructure and site remediation for three development sites, including a proposed 112-room hotel; the council adopted the ordinance after staff and consultants presented an economic feasibility study and received limited public comment.
The Idaho Falls City Council on Nov. 20 approved an ordinance establishing the Riverwalk Urban Renewal District, a roughly 10-acre redevelopment area west of the Snake River intended to remove barriers to riverfront redevelopment and to fund public infrastructure through tax increment financing.
City staff and consultants walked the council through the plan and the required economic feasibility study. Megan Conrad, representing the Idaho Falls Redevelopment Agency, said the plan identifies eligible public improvements, financing methods and the district’s 20‑year horizon, with an anticipated termination date of Dec. 31, 2045. Conrad said the district’s purpose is to defer the receipt of increased property…
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