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Idaho Falls council approves Riverside urban renewal plan and TIF agreement with county
Summary
After presentations from agency staff and a consultant, the council voted to adopt the Riverside Urban Renewal Plan, create a 20-year revenue allocation area and approve an intergovernmental agreement with Bonneville County to allow tax-increment financing for planned projects.
Idaho Falls City Council voted Nov. 24 to approve the Riverside Urban Renewal Plan and a related intergovernmental agreement with Bonneville County, clearing the way for a 20-year revenue allocation area that will enable tax-increment financing for projects inside the district.
The council’s action followed a legislative hearing that included a legal overview from Megan Conrad, legal counsel for the Idaho Falls Redevelopment Agency, and an economic feasibility summary from Greg Kramer of Perspective Planning. Conrad said the proposed district covers roughly 214–215 acres along the Snake River and includes parcels in both the city and unincorporated Bonneville County. The multi-jurisdictional nature of the area required an intergovernmental agreement and a transfer of powers to permit revenue allocation under state law.
“This proposal before you is for the approval…
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