HomeMy WebLinkAbout002.27.18 CHUBBLICKCity of Chubbuck
5160 Yellowstone Avenue
PO Box 5604
EVELOPMENT AUTHORIT Chubbuck, ID 83202.0006
208.237.2400
The urban renewal agency for the City of Chubbuck,Idaho
Minutes of the Chubbuck Development Authority meeting held at Chubbuck City Hall Council
Chambers, 5160 Yellowstone on February 27, 2018 at 5:30 pm.
Chairman Dan Heiner. Commission Members: Mecinna Price, Steve Brown, Deloy Stuart.
Executive Director: Rodney Burch. Planning and Development Director: Devin Hillam. Attorney:
Tom Holmes. Office Administrator: Ranelle Simmons.
Chairman Heiner called the meeting to order at 5:35 pm.
APPROVAL OF MINUTES: for January 23, 2018
Heiner entertained a motion to approve the minutes as mailed. Stuart moved the minutes of
January 23, 2018, be approved as mailed; Price seconded. All voted to approve.
GENERAL BUSINESS
1. CDA Bond Term sheet
Heiner excused himself from this item and turned the meeting over to Deloy Stuart.
Zions Public Finance and Citizens Community Bank have submitted a Bond Term sheet. Burch
discussed the summation of the two term sheets. Zions Public Finance is$50,000 less. Burch
explained that they are not ready to enter into this contract but a decision on which entity to
pursue tonight would be helpful. This is a revenue bond debt obligation so it is a 1 time take on
the 2.5 million dollars. Interest payments will start immediately. Burch would like to make sure
the amount is correct before entering into the contract.
Stuart asked if the submission sheet is everything the board needs to know? Burch assured the
board all information is there.
Stuart asked if the board had any questions for Burch. Stuart entertained a motion. Brown
moved to go with Zions Public Finance for the revenue bond debt and start the process. Price
seconded. All voted in favor. Zions Public Finance will be contracted with the City for future
bonding debt.
2. Pine Ridge Mall Reimbursement Status.
Burch reported the status of the Pine Ridge Mall reimbursement request is finalized at 11.7
million dollar qualifying for reimbursements. Burch went over a breakdown of the costs which
are the entire duration of total 20 year plan.
Summation is the parking lot restructure, resurfacing and stripping and the ring road. Removal
of the old Carmike Cinemas has been done and completion of the pads near Red Robin still
need to be completed. This is just an update, no action needed tonight.
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3. Potential T.I.F. Districts
Hillam stated with the approval of the Northgate Interchange our land owners are very excited.
There will be a significant amount of land changes including roads, sewer and water.
Landowners do not have a time line yet but monthly meeting with City staff are being held.
Pocatello Development Authority Eligibility Report for the Northgate Development was
included in tonight's meeting packet because the City will need the same type of report. Hillam
read the categories that were in the plan. Using Google Earth Hillam showed the board where
infrastructure will be going in and where potential TIF districts could be created. Reconstructing
Tyhee Road is a possibility. It is a process to develop a TIF district so Hillam explained that only
going thru the process once or twice is desirable. The timeline for the 2 TIF districts are
development driven. Developers for this project are the existing seven landowners with very
little experience in how to handle the process and requirements.
4. Construction Project Update
Burch keeps the board updated every month. Country Acres Project has completed the
underground storm water, removed trees and vegetation that will be impacted, and starting to
construct mailbox structure. The mild beginning of winter has allowed the work to continue. 1.5
of the 4.4 million dollar project has been spent. Knife River is on schedule to complete the
Country Acres Project in early fall.
The Hiline Canal Utility Crossing is not a CDA funded project but for an update they are on time
for the March 15 deadline, support piles foundation have been driven and pouring pier caps will
be tomorrow.
5. Review claims paid
Burch went over the three claims that were approved to be paid.
ADJOURN: Heiner entertained a motion to adjourn. Brown moved to adjourn. Stuart seconded.
All voted to adjourn at 6:10 pm.
NEXT ME TING: Tuesd•y March 27, 2018
D
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Dhn Heiner, Co- mission Chair Ranelle Simmons, Office Administrator
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