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Agency finance report flags a dropped parcel, reserve payback and budget implications
Summary
Staff told the Idaho Falls Urban Renewal Agency that one parcel had been dropped from a district for two years, increasing current tax increment receipts; Jacksonville Junction’s OPA payment included a $235,000 reserve payback and will leave the district about $81,000. Staff will return parcel-level recapture cost estimates next month.
At its Feb. 19 meeting, the Idaho Falls Urban Renewal Agency reviewed its monthly financial report and heard from staff that a parcel-level allocation error had been discovered that affected this year’s tax increment receipts.
Mark (identified by the chair) explained the agency receives lump-sum tax-increment-related OPA payments in January and July and that one parcel had been…
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