Idaho Falls, ID – The Idaho Falls Redevelopment Agency, will be presenting its annual report for discussion and approval at the regular monthly meeting at noon on March 16, 2017, in the City Council Chambers inside the City Annex Building, 680 Park Avenue, Idaho Falls.
The annual report summarizes the Agency’s activities for 2016 and provides a brief history of Agency actions over the twenty-seven year history. As with all meetings, the public is invited to attend.
The Idaho Falls Redevelopment Agency was activated in 1988 by the Mayor and City Council. Soon after the Agency activation, the Mayor and City Council created the Lindsey Boulevard Urban Renewal District (now the expanded Snake River urban renewal district). This area contained numerous vacant parcels, open storage, and gravel roads. The Agency issued a bond and undertook the reconstruction of Lindsey Boulevard and Utah Avenue.
Since 1988, the Agency has improved Lindsey Boulevard, Utah Avenue, Wardell and Mercury rights-of-way, Memorial Drive; relocated power lines; improved major road intersections and railroad crossings; and replaced or installed water, sewer, and storm drainage lines.
In 2004, the Mayor and City Council approved the creation of the River Commons Urban Renewal District on lands that previously housed a gravel pit. The Agency entered into a partnership with the developer of Snake River Landing, Ball Ventures, to finance the construction of Pier View Drive, portions of Snake River Parkway, Milligan Road within the City, and Bluff Drive and accompanying public utilities. As of 2016, these improvements have spurred an increase of $210,985,515 in the assessed value in these two districts.
In 2015, the Mayor and City Council approved the Eagle Ridge District, the fourth district in the program. This district has already seen the completion of Snake River Parkway connected to Pioneer Road and a new intersection with Utah Avenue.
In 2016, the Agency purchased the site of the former Saving Center grocery store and an option on the Bonneville Hotel. Both of these projects are planned to be used for mixed-use developments. Requests for Proposals were posted and sent to developers in early 2016.
The Saving Center property is expected to see development starting in the spring of 2017. The Bonneville Hotel will likely not see construction until 2018.
All of the Agency meetings are open to the public and are held in the City Council Chambers, 680 Park Avenue, Idaho Falls, at noon on the third Thursday of the month.
About the Idaho Falls Redevelopment Agency: The Idaho Falls Redevelopment Agency began work in the Snake River Urban Renewal District in 1988 and reconstructed Lindsay Boulevard, Utah Avenue, Wardell Avenue, a portion of Milligan Road, and Memorial Drive with the tax proceeds from new development. As part of this street reconstruction, the Agency installed water and sewer lines and storm drainage. The Agency also financed the relocation of transmission lines to spur development east of I-15. With the efforts of the Agency and others, the assessed valuation of the district has increased by over $140 million. The Snake River district will end on December 31, 2018, although the Agency may continue to receive the increment into 2019.