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Idaho Falls council approves Riverside Urban Renewal Plan and intergovernmental agreement with Bonneville County
Summary
The Idaho Falls City Council voted Nov. 24 to adopt the Riverside Urban Renewal Plan and authorize an intergovernmental agreement with Bonneville County, creating a 20-year revenue allocation area that consultants say could support hundreds of millions of dollars of private investment and pay-as-you-go public projects.
The Idaho Falls City Council on Nov. 24 approved an ordinance adopting the Riverside Urban Renewal Plan and a resolution authorizing an intergovernmental agreement with Bonneville County to create a multi-jurisdictional revenue-allocation area (a tax-increment financing district) with a 20-year term.
Megan Conrad, the redevelopment agency’s legal representative, told council members the proposed district covers roughly 215 acres along the Snake River and includes parcels inside city limits and in unincorporated Bonneville County. She said the agency followed statutory notice requirements and that some parcels classified as agricultural were excluded when owner consent was not obtained.
Greg Kramer of Perspective Planning presented an economic feasibility study that the…
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