Idaho Falls council approves Riverside urban renewal plan and TIF agreement with county

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 of the Riverside Urban Renewal Plan and associated creation of an urban renewal district,” Conrad said, adding that the agency previously adopted the plan and transmitted it to the city after meeting notice and statutory steps were completed. She noted the district duration would be 20 years, the maximum allowed under Idaho statute.

Kramer told the council the feasibility study divides the area into two owner participation areas (OPAs), with one OPA largely controlled by a primary property owner. He said the study identifies about $600 million in anticipated private investment and roughly $663.3 million in eligible public costs across both OPAs, and that even under conservative revenue scenarios the district would generate sufficient tax-increment revenue to reimburse anticipated public costs and produce carryover funds for other projects.

“The main purpose of this study is to determine if revenues from private investment will be sufficient to cover the anticipated costs of public projects and other eligible expenses,” Kramer said.

Council members questioned whether park areas and river islands were included in the boundary and whether amending the plan later could reset the tax base. Conrad and Kramer said certain parcels were removed when required owner consents (for agricultural operations) were not received, that limited one-time acreage increases (up to 10 percent) can be added without resetting the base, and that larger amendments risk a base reset under state rules.

Council discussion emphasized balancing growth and river-protection goals. Several members said the district would accelerate remediation and infrastructure work (including removal of historic debris and site remediation) that would otherwise be financially impractical for private developers. Supporters highlighted the potential to protect the river corridor while enabling commercial and mixed-use development.

The council approved the ordinance adopting the Riverside Urban Renewal Plan by roll call vote and then approved a resolution authorizing the intergovernmental agreement with Bonneville County and authorizing the mayor and city clerk to sign the agreement. The ordinance will be published by summary as required; staff will transmit required documents to affected taxing entities and state officials.

What happens next: the ordinance summary will be published, and the city will transmit required materials to the county and state as part of the formal record. The redevelopment agency and city will later negotiate owner participation agreements and any participation/disposition or development agreements described in the plan.