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Council adopts Riverwalk urban renewal plan to enable $40 million in private investment
Summary
The Idaho Falls City Council voted to adopt a 20-year Riverwalk Urban Renewal District covering roughly 10 acres. City and agency staff said tax-increment financing would support up to about $4.1 million in public infrastructure and remediation costs tied to private development.
The Idaho Falls City Council on Dec. 2 adopted an ordinance creating the Riverwalk Urban Renewal District, a roughly 10-acre, 20-year revenue-allocation plan city staff said will support private development estimated at about $40 million.
The plan, presented by Megan Conrad of Hillenburg and consultant Brad Kramer of Perspective Planning, outlines eligible public projects — most prominently rock blasting and fill remediation, a canal pathway and related infrastructure — and assumes developer owner participation agreements to reimburse eligible costs. Kramer summarized the…
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