HomeMy WebLinkAbout09 21 1993 Special CM163
COUNCIL MEETING MINUTES
September 21, 1993
Minutes of a special meeting held at the city municipal building,
September 2ist., i993.
Present: Mayor John O. Cotant, Council members Leroy S. Quick,
Steven M. England, David A. Landon, W. Dean Wood, Attorney
Thomas J. Holmes, Public Works Director Steven M. Smart and
City Clerk Ron C. Coniin.
Meetiag was called to order at 7:35 p.m. by Mayor Cotant.
PURPOSE OF MEETING is to discuss I) Intergovernmental transfer of
fire truck. 2) Five Star Group Apartments proposal.
CONTRACT FOR iNTERSOVERNMENTAL TRANSFER OF PERSONAL PROPERTY -
Mayor Cotant read the Contract for intergovernmental Transfer
of Personal Property.
Mayor Cotant read the intergovernmental Transfer of Personal
Property Agreement in full.
Councilman Landon moved to direct Mayor Cotant to sign the
Intergovernmental Transfer of Personal Property Agreement.
Councliman Wood seconded. Ail council members voted in favor
of the motlon.
FiVE STAR GROUP APARTMENTS PROPOSAL - Kip Jardine, President, FSG
Capital Corporation was present to present his proposal.
Dr. David Peck, School District #25 was present.
Mr. Jardlne stated, to the north of Pine Ridge Mall there is
approx, a 2~ acre piece of property, they would like to
develop a 32~ unit apartment complex. Mr. Jardine explained
the apartment complex will be of the highest quality. Mr.
Jardine passed to Dr. Peck, Mayor Cotant and Council several
plumbing fixtures, pictures of appliances, etc. Mr. Jardine
said, the apartment complex will be a gated community.
Mr. Jardine explained the Tax increment Pro Forma that in
forty years $34,~00,~. in taxes is assessed without tax
increment. With the tax increment, based upon the formula we
have proposed, Chubbuck and the school district will receive
$i~,6~,0~, of that amount(which averages $265,~6. annually)
and their project would receive S23,~0~,0~. in tax relief.
Mr. Jardine felt the property tax in Idaho is way to high, as
compared to Utah, and states in area.
FIVE
165
STAR GROUP APARTMENTS PROPOSAL - (cont.)
Attorney Holmes stated there is a limitation in Idaho on how
much we can subject to tax increment financing, Attorney
Holmes thought it might be $i2,~.~. in the City of
Chubbuck.
Mr. Jardine said he thought the formula used is incorrect,
Mr. Jardine said the i~% cap applies to the year prior to the
Chubbuck Development Authority, it is not based upon how much
you can have inside the Authority, but, you cannot set aside
mo~e than the i~% tax base in the redevelopment authority. Mr.
Jardine said he has his people working to make sure this is
correct.
Mr. Jardine stated, if there is a i~% cap, it will kill the
project.
Mr. Jardine said the least expensive unlt will be, approx.
S48~.~ per month.
Councilman Wood expressed concern of what happens to Bannock
County's share of property taxes normally collected. Mr.
Jardine stated, as presented, Bannock County will not get
taxes.
Mr. Jardine said, if the project cannot be financed, we are
wasting time, because the project will not go.
Mr. Jardine said a gated community adds a secure environment
for residents living inside. Mr. Jardine felt there would be
a very limited need for police services in the complex.
Dr. Peck, School District #25 asked when the project will be
ready for occupancy. Mr. Jardine said if everything goes as
projected, the project wlil be ready in 1995.
Mr. Jardine told Dr. Reck there probably will not be more than
16% of occupants with school aged children.
Dr. Peck stated, with the estimates he has received, It if
difficult to see what impact the project would have on the
School District, its not sure whether residents would move
from one home in the area to the apartments, or would they
move from out of town. Dr. Peck said any impact at all would
hurt the school d/strict because of the over load now. Dr.
Peck said he did not think the impact of the project would
affect the School District either way.
Dr. Peck stated there are a couple of board members that mlght
look at this different than he does, Dr. Peck will get more
information from Todd Hong, SICOG, then present it to the
FIVE
STAR GROUP APARTMENTS
167
PROPOSAL (cont.) ~
School Board the second Tuesday in October, Dr. Peck requested
any updates in the proposal be sent to him as soon as
possible. Dr. Peck said after presenting the proposal to the
board, the School Distrlct wlil present a position statement,
It was suggested the proposal be presented to Bannock County
for their feelings.
CouncJiman England felt we should involve Bannock County, but
was in favor of proceeding with next step of finding out
iegailty of cap.
Attorney Holmes sald the Clty might face some stlff criticism
about giving $23,~e~,~. in tax relief to a commercial
project. ~
Discussion about water and sewer line improvement down
Hawthorne Rd. Mr. Jardine stated they will help with water and
sewer line improvements. Wlii be discussed at a later date.
Discussion about sanitation pick-up at the proposed apartment
building. Will be discussed at later date.
Mr. Jardine stated there are only $i,20~.~ in property taxes
being generated on the property now.
Mr. Jardine stated his group cannot take any less than the
$23~337,i16. tax deduction over the 49 years. Mr. Jardine
said, if he can get a consensus from Mayor and Council, he
will proceed with next step on the project.
Council was in consensus, Mr. Jardine proceed with ge%ting
regulations on Chubbuck Development Authority from the State.
Mr. Jarlne will be in contact with Attorney Holmes. ~_~.
At l~:~ p.m., seconded,
with full
Councilman England moved, Council Quick
council approval to adjourn meeting.
/John 0 cotant, Ma~or
Ron C. Conlin, Clty Clerk/Treasurer
CALL OF SPECIAL MEETING
CITY OF CHUBBUCK
Pursuant to Idaho Code Section 50-6~4, the undersigned Mayor
of the City of Chubbuck, Idaho, hereby calls a special meeting of
the City Council to be held at the Chubbuck Municipal Building, at
the hour of 7:30 p.m., on Tuesday, the 21st. day of September,
1993. The ob3ect of the special meeting is to discuss 1. Proposed
Intergovernmental Transfer of fire truck. 2. Five Star Group
Apartments proposal.
~0. Cotant, Mayor
NOTICE OF SPECIAL MEETING
TO: MAYOR AND COUNCIL OF TEE CITY OF CHUBBUCK, IDAHO.
Pursuant to the call set forth above, notice is hereby given
of a special meeting of the Chubbuck City Council at the time and
place, and for the ob3ect, recited in the call.
Ron C. Conlin
Chubbuck City Clerk
ACKNOWLEDGEMENT OF NOTICE
The undersigned, Mayor and members of the Chubbuck City
Council hereby acknowledge receipt of notice of the special meeting
/~ s et4 forthz~bove.
_Ler°y S-/Quick//~Cou~cllmember St~V~en ~7 Englasd,/ ~ou~cll~'ember
PRO FORMA T65320IC
TAX INCREMENT
Years
1
2
3
4
5
6
7
8
9
10
Assessed
103.000%
$17 i60 000
~ ~ 800
18 205 044
18 751 195
19 313 731
19 893 143
20 489 937
21 104 636
21 737 775
22 389 908
196,720,169
11
12
13
14
15
16
17
18
19
20
23,061,605
23,753 453
24,466 057
25,200 039
25,956 040
26,734 721
27,536 762
28,362 865
29,213 751
30,090 164
264,375,457
21
22
23
24
25
26
27
28
29
30
30,992,869
31,922.655
32,880.334
33 866.745
34 882.747
35 929229
37 007106
38 117 319
39 260 839
40 438 664
355,298,507
31
32
33
34
35
36
37
38
39
40
41,651,824
42,901,379
44,188,420
45,514,073
46,879,495
48,285,880
49,734,456
51,226,490
52,763,284
54,346,183
477,491,484
$1,293,885,617
Real
2. 529%
$433,942
446,960
460,369
474,180
488,406
503,058
518,150
533,694
549,705
566,196
4,974,660
583,182
600,677
618,698
637,259
656,376
676,068
696,350
717,240
738,757
760,920
6,685,527
783 748
807 260
831 478
856 422
882 115
908 578
935 836
963 911
992,828
1,022,613
8,984,789
1,053,291
1,084,890
1,117 437
1,150,960
1,185,489
1,221~053
1,257.685
1,295.415
1,334.278
1,374306
12,074,805
$32,719,779
Personal
0.100%
$17 160
17 675
18 205
18 751
19r314
19~893
20.490
21.105
21.738
22.390
196,720
23,062
23 753
24 466
25 200
25 956
26 735
27 537
28 363
29 214
30 090
264,375
30,993
31,923
32,880
33,867
34,883
35,929
37,007
38,117
39,261
40,439
355,299
41,652
42 901
44 188
45 514
46 879
48 286
49 734
51 226
52 763
54 346
477,491
$1,293,886
Total
Prop Tax
$451102
464 635
478 574
492 931
507 719
522 951
538 639
554,799
571,443
588,586
5,171,380
606,243
624,431
643,164
662,459
682,332
702,802
723,886
745,603
767,971
791,010
6,949,902
814 , 741
839,183
864,358
890,289
916,998
944 , 508
972,843
1,002,028
1,032,089
1,063,052
$9,340,087
1,094,943
1,127 791
1,161 625
1,196 474
1,232 368
1,269 339
1,307 419
1,346 642
1,387 041
1,428 652
$12,552,296
$34,013 , 665
School
14.236%
$64,219
66,145
68,130
70,174
72,279
74,447
76,681
78,981
81,351
83,791
736,198
86,305
88~894
91.561
94.308
97.137
100.051
103.052
106.144
109.328
112.608
989,388
115,986
119,466
123 050
12~ 742
130 544
134 460
138 494
142 649
146 928
151 336
1,329,655
155,876
160,552
165,369
170,330
175,440
180,703
186,124
191,708
197,459
203,383
1,786,945
~4,842,185
City
17.153%
$77,378
79,699
82,090
84.553
-87.089
89.702
92393
95 165
98020
100960
887,047
103,989
107,109
110,322
113,632
117,040
120,552
124,168
127,893'
131,730
135,682
1,192,117
139,752
143,945
148,263
152,711
157,293
162,011
166,872
171,878
177,034
182,345
1,602,105
187,816
193 450
199 254
205 231
211 388
217 730
224 262
230 989
237 919
245 057
2,153,095
$5,834,364
State
0.OO0%
$o
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
$o
Five Star
68. 611%
$309,506
318,791
328,355
338,205
348,351
358,802
369,566
380,653
392,072
403,835
3,548,135
415,950
428,428
441,281
454,519
468,155
482,200
496,666
511,566
526,913
542,720
4,768,397
559,002
575 772
593 045
610 836
629 161
648 036
667 477
687 501
708 127
729 370
6,408,327
751,251
773.789
797 003
820.913
845 540
870.906
897034
923 945
951 663
980 213
8,612,256
$23~337,116