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HomeMy WebLinkAboutPH #1 Yellowstone Corridor PlanCHUBBUCK 1 0 A H 0 290 East Linden Avenue, Chubbuck, ID 83202 208.237.2400 Fax 208.237.2409 www.CityofChubbuck.us September 10, 2025 Bannock County City of Chubbuck Attn.: Board of County Commissioners Attn.: Office of the Mayor Attn.: Anita Hymas, Assessor Attn.: City Clerk Attention: Jennifer Clark, Treasurer 290 East Linden Ave. 624 East Center Chubbuck, Idaho 83202 Pocatello, Idaho 83201 Bannock County Abatement District c/o Bannock County Public Works Attn: Kathy Dahlke, Supervisor 1500 North Fort Hall Mine Road Pocatello, Idaho 83204 Bannock County Ambulance Attn: Ryan O'Hearn, Chief 408 E. Whitman St. Pocatello, Idaho 83201-6450 Pocatello School # 25 Attn: Board of Trustees Attn: Dr. Douglas Howell, Superintendent 3115 Pole Line Road Pocatello, Idaho 83201 Portneuf Free Library Attn: Board of Trustees Attn: Cresta Craner, Director 5210 Stuart Avenue Chubbuck, Idaho 83202 Bannock County Road & Bridge c/o Bannock County Public Works 5500 S Fifth Avenue Pocatello, ID 83204 RE: Urban Renewal Plan for the Yellowstone Corridor Urban Renewal Project Dear Sir or Madam: Enclosed is a copy of a formal notice that will be published in the Idaho State Journal on September 12 and 26, 2025, advising that on Wednesday, October 15, 2025, at 6:00 p.m., the Chubbuck City Council will hold a public hearing in the Chubbuck City Council Chambers, 290 East Linden Ave, Chubbuck, Idaho 83202, to consider for adoption the Urban Renewal Plan for the Yellowstone Corridor Urban Renewal Project (the "Plan") of the Urban Renewal Agency of the City of Chubbuck, Idaho, also known as Chubbuck Development Authority ("Agency"). At that time, the City Council may consider for approval the Ordinance adopting the Plan. In compliance with Idaho Code § 50-2906, this letter serves as notice to you that the Plan contains a revenue allocation financing provision and that the Agency recommends approval of the Plan. A copy of the Plan and Agency Resolution No. 2025-02 adopted by the Agency Board on Tuesday, August 19, 2025, are enclosed, along with the map and legal description (if you are receiving this letter via email, copies of all of the referenced documents can be located at https:Hcityofchubbuck.us/development-authority/. A copy of the Plan is also available at City Hall for your review. You are encouraged to provide your comments, either in writing or at the public hearing. In the event you would like to schedule a separate meeting to discuss the Plan, representatives of the City will make themselves available to explain the Plan. Sincerely, Joey Bowers, City Clerk Enclosures cc: Meghan Conrad Ashley Squyres Daniel Heiner Ryan Lewis, Chubbuck City Attorney 4898-6928-2145, v. 1 NOTICE OF REGULAR MEETING AND PUBLIC HEARING BY THE CITY COUNCIL OF THE CITY OF CHUBBUCK, IDAHO, TO CONSIDER THE URBAN RENEWAL PLAN FOR THE YELLOWSTONE CORRIDOR URBAN RENEWAL PROJECT OF THE URBAN RENEWAL AGENCY OF CHUBBUCK, IDAHO, ALSO KNOWN AS CHUBBUCK DEVELOPMENT AUTHORITY NOTICE IS HEREBY GIVEN that on Wednesday, October 15, 2025, at 6:00 p.m. in the City Council Chambers, Chubbuck City Hall, 290 East Linden Ave, Chubbuck, Idaho, the City Council of the city of Chubbuck, Idaho (the "City') will hold, during its regular meeting, a public hearing to consider for adoption the proposed Urban Renewal Plan for the Yellowstone Corridor Urban Renewal Project (the "Plan"), of the Urban Renewal Agency of the City of Chubbuck, Idaho, also known as Chubbuck Development Authority ("Agency"). The urban renewal and revenue allocation area boundary is coterminous as hereinafter shown. The Plan proposes that the Agency undertake urban renewal projects, including identifying public facilities for funding, pursuant to the Idaho Urban Renewal Law of 1965, Title 50, Chapter 20, Idaho Code, as amended. The Plan being considered for adoption contains a revenue allocation financing provision pursuant to the Local Economic Development Act, Title 50, Chapter 29, Idaho Code, as amended, that will cause property taxes resulting from any increase in equalized assessed valuation in excess of the equalized assessed valuation as shown on the base assessment roll as of January 1, 2025, to be allocated to the Agency for urban renewal purposes. The Agency has adopted and recommended approval of the Plan. The City Council may also consider the ordinance to adopt the Plan at the meeting on October 15, 2025. Additional readings and/or adoption of the ordinance will follow consistent with the City's ordinance approval process. The general scope and objectives of the Plan are: a. The engineering, design, installation, construction, and/or reconstruction of storm water management infrastructure to support compliance with federal, state, and local regulations for storm water discharge and to support private development; b. The provision for participation by property owners and developers within the Project Area to achieve the objectives of this Plan; C. The engineering, design, installation, construction, and/or reconstruction of the transportation network within the Project Area, including all streets and streetscapes within the Project Area, with a focus on enhancements to Yellowstone Avenue, Chubbuck Road, Siphon Road, Briscoe Road, Valenty Street, Ward Street, Knudsen Boulevard, Highway Avenue, Evans Lane, West Linden Avenue, Afton Avenue and Park Lawn Drive, and related pedestrian and bicycle facilities, sidewalk, curb and gutter, intersection improvements, road widenings, and traffic signals (if needed), and the engineering, design, installation, and construction of additional road throughout the Project Area to support future development; d. The engineering, design, installation, construction and/or reconstruction of sidewalks and related pedestrian and bicycle facilities, curb and gutter and streetscapes, which for purposes of this Plan, the term streetscapes include sidewalks, lighting, landscaping, benches, signage, way -finding, bike racks, public art, and similar amenities between the curb and right-of-way line; and other public improvements, including multi -use pathways with landscape buffers and public open spaces, including but not limited to community event spaces, public parking facilities, and plazas; e. The engineering, design, installation, construction, and/or reconstruction of utilities (within and outside of the Project Area) including but not limited to improvements and upgrades to the water distribution system, including extension of the water distribution system, water capacity improvements, including to increase fire flows, water storage upgrades, wastewater system improvements and upgrades, including extension of the wastewater collection system, lift stations, and improvements, and upgrades to power, gas, fiber optics, communications and other such facilities. To the extent construction of utilities outside of the Project Area are identified, such improvements are directly related to the growth and development within the Project Area, but cannot be sited within the Project Area; f. The engineering, design, installation, construction, and/or reconstruction of public parking facilities, including structured parking facilities; g. Removal, burying, or relocation of overhead utilities; removal or relocation of underground utilities; extension of electrical distribution lines and transformers; improvement of irrigation canals and drainage ditches and laterals; undergrounding or piping of laterals; addition of fiber optic lines or other communication systems; public parking facilities, and other public improvements, including but not limited to, fire protection systems, floodway and flood zone mitigation; and other public improvements that may be deemed appropriate by the Board; h. The acquisition of real property for public right-of-way and streetscape improvements, utility undergrounding, extension, upgrades, public parks, plazas, community spaces and trails, pedestrian facilities, pathways and trails, community event space and to encourage housing diversity, enhance transportation and mobility options, decrease underutilized parcels and surface parking lots, create development opportunities consistent with the Plan, including but not limited to future disposition to qualified developers for qualified developments; The disposition of real property through a competitive process in accordance with this Plan, Idaho law, including Idaho Code § 50-2011, and any disposition policies adopted by the Agency; The demolition or removal of certain buildings and/or improvements for public rights- of-way and streetscape improvements, pedestrian facilities, utility undergrounding extension and upgrades, public parks and trails, public facilities, and to encourage and enhance housing diversity, enhance transportation and mobility options, decrease underutilized parcels and surface parking lots, to eliminate unhealthful, unsanitary, or unsafe conditions, eliminate obsolete or other uses detrimental to the public welfare or otherwise to remove or to prevent the spread of deteriorating or deteriorated conditions; k. The management of any property acquired by and under the ownership and control of the Agency; The development or redevelopment of land by private enterprise or public agencies for uses in accordance with this Plan; M. The construction and financial support of infrastructure necessary for the provision of improved transit and alternative transportation; n. The engineering, design, installation, construction, and/or reconstruction of below ground infrastructure to support the construction of certain municipal buildings pursuant to Idaho Code § 50-2905A; o. The provision of financial and other assistance to encourage and attract business enterprise including but not limited to start-ups and microbusinesses, mid-sized companies and large-scale corporations and industries; P. The provision of financial and other assistance to encourage greater density and a diverse mix of rental rates and housing options; q. The rehabilitation of structures and improvements by present owners, their successors, and the Agency; r. The preservation and/or restoration of historic and/or cultural assets as amenities, including but not limited to fagade restoration; S. The preparation and assembly of adequate sites for the development and construction of facilities for housing, retail areas, cultural centers, commercial, and governmental use; t. City to amend zoning regulations (if necessary) and standards and guidelines for the design of streetscape, festival streets, multi -use pathways, parks, plazas and open space and other like public spaces applicable to the Project Area as needed to support implementation of this Plan; U. In conjunction with the City, the establishment and implementation of performance criteria to assure high site design standards and environmental quality and other design elements which provide unity and integrity to the entire Project Area, including commitment of funds for planning studies, achieving high standards of development, and leveraging such development to achieve public objectives and efficient use of scarce resources; V. To the extent allowed by law, lend or invest federal funds to facilitate development and/or redevelopment; W. The provision for relocation assistance to displaced Project Area occupants, as required by law, or within the discretion of the Agency Board for displaced businesses; X. Agency and/or owner -developer construction, participation in the construction and/or management of public parking facilities and/or surface lots that support a desired level and form of development to enhance the vitality of the Project Area; Y. The environmental assessment and remediation of brownfield sites, or sites where environmental conditions detrimental to development and/or redevelopment exist; Z. Agency participation in the remediation of any brownfield or other environmental conditions present in the Project Area; and aa. Other related improvements to those set forth above as further set forth in Attachment Any such land uses as described in the Plan will be in conformance with zoning for the City and the City of Chubbuck Comprehensive Plan (the "Comprehensive Plan"), adopted by the Chubbuck City Council, as may be amended from time to time. Land made available will be developed by private enterprises or public agencies as authorized by law. The Plan identifies various public and private improvements which may be made within the Project Area. The Urban Renewal Project Area and Revenue Allocation Area herein referred to is generally described as follows: An area within the City consisting of approximately 389 acres in size and is generally bounded by New Day Parkway/Siphon Road on the north, a Union Pacific rail line and Whitaker Road on the east, 1-86 to the south, and Hawthorne Road on the west. The Project Area is centered along the Yellowstone Highway Corridor between New Day Parkway/Siphon Road on the north and 1-86 to the south and expanding to the east and the west of the Yellowstone Highway Corridor. The Project Area and Revenue Allocation Area is also depicted in the map below. CM J � I Imo' .a�_. — MWIT11-116 q W � m2r�,A , 1- ...,. CONNECT u ENGINEEPING Copies of the proposed Plan are on file for public inspection and copying at the office of the City Clerk, Chubbuck City Hall, and 290 East Linden Ave, Chubbuck, Idaho, 83202 between the hours of 8:00 a.m. to 12:00 p.m. and 1:00 p.m. - 5:00 p.m., Monday through Friday, exclusive of holidays. The Plan can also be accessed online at https://citVofchubbuck.us/development- authority/. For additional assistance in in obtaining a copy of the Plan in the event of business office interruptions, contact the office of the City Clerk at 208-237-2400, Ext. 201. Costs for copying are outlined in Idaho Code Section 74-102. At the hearing date, time, and place noted above (October 15, 2025, at 6:00 p.m.), all persons interested in the above matters may appear and be heard. Written testimony is encouraged. Written testimony must be submitted at least five days prior to the hearing. Oral testimony may be limited to three minutes per person. Additional information, as well as, information regarding providing testimony in compliance with any social distancing orders in effect may be obtained by calling 208-237-2400, Ext. 201 or by email at jbowers@cityofchubbuck.us. Chubbuck City Hall is accessible to persons with disabilities. All information presented in the hearing shall also be available upon advance request in a form usable by persons with hearing or visual impairments, individuals with other disabilities may receive assistance by contacting the City Clerk, Joey Bowers at ibowers@cityofchubbuck.us at least 24 hours prior to the meeting. DATED: September 5, 2025. Joey Bowers, City Clerk Publication date: September 12, 26, 2025. 4911-9660-8609, v. 1 RESOLUTION NO. 2025-2 BY THE BOARD OF COMMISSIONERS OF THE URBAN RENEWAL AGENCY OF THE CITY OF CHUBBUCK, IDAHO: A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE URBAN RENEWAL AGENCY OF THE CITY OF CHUBBUCK, IDAHO, ALSO KNOWN AS THE CHUBBUCK DEVELOPMENT AUTHORITY, RECOMMENDING AND ADOPTING THE URBAN RENEWAL PLAN FOR THE YELLOWSTONE CORRIDOR URBAN RENEWAL PROJECT, WHICH PLAN INCLUDES REVENUE ALLOCATION FINANCING PROVISIONS SUBJECT TO CERTAIN CONDITIONS; AUTHORIZING AND DIRECTING THE CHAIR, VICE -CHAIR, OR ADMINISTRATOR AND THE SECRETARY OF THE AGENCY TO MAKE CERTAIN TECHNICAL CHANGES; AUTHORIZING AND DIRECTING THE CHAIR, VICE -CHAIR, OR ADMINISTRATOR TO TAKE APPROPRIATE ACTION; PROVIDING FOR THIS RESOLUTION TO BE EFFECTIVE UPON ITS PASSAGE AND APPROVAL; AND PROVIDING AN EFFECTIVE DATE. THIS RESOLUTION, made on the date hereinafter set forth by the Urban Renewal Agency of the City of Chubbuck, Idaho, also known as the Chubbuck Development Authority, an independent public body, corporate and politic, authorized under the authority of the Idaho Urban Renewal Law of 1965, Chapter 20, Title 50, Idaho Code, as amended (hereinafter the "Law") and the Local Economic- Development Act, Chapter 29, Title 50, Idaho Code, as amended (hereinafter the "Act"), a duly created and functioning urban renewal agency for Chubbuck, Idaho, hereinafter referred to as the "Agency." WHEREAS, the City Council (the "City Council") of the city of Chubbuck, Idaho (the "City"), after notice duly published, conducted a public hearing on the Pine Ridge Mall Urban Renewal Area and Improvement Plan (the "Pine Ridge Mall Plan"); WHEREAS, following said public hearing, the City Council adopted its Ordinance No. 759 on August 3, 2016, approving the Pine Ridge Mall Plan, making certain findings and establishing the Pine Ridge Mall revenue allocation area (the "Pine Ridge Mall Project Area"); WHEREAS, the City Council, after notice duly published conducted a public hearing on the Urban Renewal Plan for the Northside Crossing Urban Renewal Project (the "Northside Crossing Plan"); WHEREAS, following said public hearing, the City Council adopted its Ordinance No. 819 on November 4, 2020, approving the Northside Crossing Plan, making certain findings and establishing the Northside Crossing revenue allocation area (the "Northside Crossing Project Area"); RESOLUTION NO. 2025-02 1 WHEREAS, the City Council, after notice duly published conducted a public hearing on the Urban Renewal Plan for the Harvest Springs Urban Renewal Project (the "Harvest Springs Plan"); WHEREAS, following said public hearing, the City Council adopted its Ordinance No. 840 on November 3, 2021, approving the Harvest Springs Plan, making certain findings, and establishing the Harvest Springs revenue allocation area (the "Harvest Springs Project Area"); WHEREAS, the above referenced existing urban renewal plans are collectively referred to as the "Existing Urban Renewal Plans" and their respective existing revenue allocation project areas are collectively referred to as the "Existing Project Areas"; WHEREAS, pursuant to Idaho Code § 50-2008, an urban renewal project may not be planned or initiated unless the local governing body has, by resolution, determined such area to be a deteriorated area or deteriorating area, or combination thereof, and designated such area as appropriate for an urban renewal project; WHEREAS, Idaho Code § 50-2906, also requires that in order to adopt an urban renewal plan containing a revenue allocation financing provision, the local governing body must make a finding or determination that the area included in such plan is a deteriorated area or deteriorating area; WHEREAS, it became apparent that additional property located within the City, may be deteriorating and/or deteriorated and should be examined as to whether such an area is eligible for urban renewal planning purposes; WHEREAS; the Agency engaged the services of Brad Cramer, Perspective Planning & Consulting LLC, to commence an eligibility study and preparation of an eligibility report of an area approximately 660 acres in size and generally bounded by New Day Parkway on the north, a Union Pacific rail line and Whitaker Road on the east, 1-86 to the south, and Hawthorne Road on the west (the "Study Area"); WHEREAS, the Agency obtained the Eligibility Report (the "Report"), which examined the Study Area for the purpose of determining whether such area was a deteriorating area and/or a deteriorated area as defined by Idaho Code Sections 50-2018(8), (9) and 50-2903(8); WHEREAS, pursuant to Idaho Code Sections 50-2018(8), (9) and 50-2903(8), which define the qualifying conditions of a deteriorating area and deteriorated area, many of the conditions necessary to be present in such an area are found in the Study Area, including: a. the presence of a substantial number of deteriorated or deteriorating structures; deterioration of site; b. age or obsolescence; C. predominance of defective or inadequate street layout; d. outmoded street patterns; RESOLUTION NO. 2025-02 2 e. lack of correlation of the area with other areas of the City by streets and modern traffic requirements; f. faulty lot layout in relation to size, adequacy, accessibility or usefulness; obsolete platting; g. insanitary or unsafe conditions; h. diversity of ownership; i. existence of conditions that endanger life or property by fire and other causes; j. substantially impairs or arrests the sound growth of a municipality; k. conditions which retard development of the area; and 1. results in economic underdevelopment of the area and economic disuse. WHEREAS, the Study Area includes open space/open land; WHEREAS, under the Act, a deteriorated area includes any area which is predominantly open and which, because of obsolete platting, diversity of ownership, deterioration of structures or improvements, or otherwise, results in economic underdevelopment of the area or substantially impairs or arrests the sound growth of a municipality. See Idaho Code § 50-2903(8)(c); WHEREAS, Idaho Code §§ 50-2018(8), (9), 50-2903(8) and 50-2008(d) list additional conditions applicable to open land areas, including open land areas to be acquired by the Agency, which are the same or similar to the conditions set forth in the definitions of "deteriorating area" and "deteriorating area;" WHEREAS, the Report addresses the findings concerning the eligibility of open land within the Study Area as defined in Idaho Code Sections 50-2018(9), 50-2903(8)(c), and 50- 2008(d); WHEREAS, the effects of the listed conditions cited in the Report result in economic underdevelopment of the area, substantially impairs or arrests the sound growth of a municipality, constitutes an economic or social liability, and is a menace to the public health, safety, morals or welfare in its present condition or use; WHEREAS, the Agency on May 20, 2025, adopted Resolution No. 2025-1 accepting the Report and authorizing the Chair of the Agency to transmit the Report to the City Council requesting its consideration for the designation of an urban renewal area and requesting the City Council direct the Agency to prepare an urban renewal plan for the Study Area which plan may include a revenue allocation provision as allowed by law; WHEREAS, the City Council on June 4, 2025, adopted Resolution No. 2025-05, and declared the Study Area described in the Report to be a deteriorated area or a deteriorating area, or a combination thereof, as defined by Chapters 20 and 29 of Title 50, Idaho Code, as amended, that such Study Area is appropriate for an urban renewal project, and directed Agency to commence preparation of an urban renewal plan for the area designated; WHEREAS, under the Law and Act, Idaho Code Sections 50-2903(8)(f) and 50-2018(8) and (9), the definition of a deteriorating area shall not apply to any agricultural operation as defined in section 22-4502(2), Idaho Code, absent the consent of the owner of the agricultural operation RESOLUTION NO. 2025-02 3 except for an agricultural operation that has not been used for three (3) consecutive years; WHEREAS, the Study Area includes parcels subject to such consent. While the necessary consents have not been obtained, any and all consents shall be obtained prior to City Council adoption of any urban renewal plan; WHEREAS, the Agency has embarked on an urban renewal project referred to as the Urban Renewal Plan for the Yellowstone Corridor Urban Renewal Project (the "Yellowstone Corridor Plan") to develop and/or redevelop a portion of the City pursuant to the Law and the Act, as amended; WHEREAS, pursuant to the Law and Act, the Yellowstone Corridor Plan proposes to create an urban renewal and revenue allocation area commonly known as the Yellowstone Corridor Project Area, which area is shown on the "Boundary Map of Urban Renewal Project Area and Revenue Allocation Area" and described in the "Legal Description of Urban Renewal Project Area and Revenue Allocation Area," which are, or will be attached upon completion, to the Yellowstone Corridor Plan as Attachments 1 and 2 respectively. The boundaries of the Yellowstone Corridor Project Area are smaller than the Study Area; WHEREAS, in order to implement the provisions of the Act and the Law, either Agency may prepare a plan or any person, public or private, may submit such plan to Agency; WHEREAS, the Agency and its consultants have prepared the proposed Yellowstone Corridor Plan for the area previously designated as eligible for urban renewal planning; -- -_ - WHEREAS, the Act authorizes the Agency to adopt revenue allocation financing provisions as part of an urban renewal plan; WHEREAS, the Yellowstone Corridor Plan contains revenue allocation financing provisions as allowed by the Act; WHEREAS, in order to implement the provisions of the Law and the Act, the Agency shall prepare and adopt the Yellowstone Corridor Plan and submit the Yellowstone Corridor Plan and recommendation for approval thereof to the City; WHEREAS, the Agency Board at several Agency Board meetings undertook a preliminary review and considered the proposed public improvements and projects within the Yellowstone Corridor Plan and Project Area; WHEREAS, as required by the Law and the Act, the Agency has reviewed the project information within the Yellowstone Corridor Plan concerning the use of revenue allocation funds and considered the Yellowstone Corridor Plan at its meeting on August 19, 2025; WHEREAS, the Yellowstone Corridor Plan will be tendered to the Land Use and Development Commission and to the City Council for their consideration and review as required by the Law and the Act; RESOLUTION NO. 2025-02 4 WHEREAS, under the Act, the Yellowstone Corridor Plan shall include with specificity the following: (1) a statement describing the total assessed valuation of the base assessment roll of the revenue allocation area and the total assessed valuation of all taxable property within the municipality; (2) a statement listing the kind, number, and location of all proposed public works or improvements within the revenue allocation area; (3) an economic feasibility study; (4) a detailed list of estimated project costs; (5) a fiscal impact statement showing the impact of the revenue allocation area, both until and after the bonds are repaid, upon all taxing districts levying taxes upon property in the revenue allocation area; and (6) a description of the methods of financing all estimated project costs and the time when related costs or monetary obligations are to be incurred; (7) a termination date for the plan and the revenue allocation area as provided for in Idaho Code § 50-2903(20); and (8) a description of the disposition or retention of any assets of the agency upon the termination date; WHEREAS, it is necessary and in the best interests of the citizens of the City to recommend approval of the Yellowstone Corridor Plan and to adopt, as part of the Yellowstone Corridor Plan, revenue allocation financing provisions that will help finance urban renewal projects to be completed in accordance with the Yellowstone Corridor Plan in order to (1) encourage private development in the urban renewal area; (2) to prevent and arrest decay of the Yellowstone Corridor Project Area due to the inability of existing financing methods to provide needed public improvements; (3) to encourage taxing districts to cooperate in the allocation of future tax revenues arising in the Yellowstone Corridor Project Area in order to facilitate the long-term growth of their common tax base; (4) to encourage the long-term growth of their common tax base; (5) to encourage private investment within the City and (6) to further the public purposes of Agency; WHEREAS, the Agency Board finds that the equalized assessed valuation of the taxable property in the revenue -allocation area described in Attachments 1 and 2 of the Yellowstone Corridor Plan is likely to increase as a result of initiation of urban renewal projects in accordance with the Yellowstone Corridor Plan; WHEREAS, under the Law and Act, any such plan should provide for (1) a feasible method for the location of families who will be displaced from the urban renewal area in decent, safe and sanitary dwelling accommodations within their means and without undue hardship to such families; (2) the urban renewal plan should conform to the general plan of the municipality as a whole; (3) the urban renewal plan should give due consideration to the provision of adequate park and recreational areas and facilities that may be desirable for neighborhood improvement, with special consideration for the health, safety and welfare of the children residing in the general vicinity of the site covered by the plan; and (4) the urban renewal plan should afford maximum opportunity, consistent with the sound needs of the municipality as a whole, for the rehabilitation or redevelopment of the urban renewal area by private enterprise; WHEREAS, if the urban renewal area consists of an area of open land to be acquired by the urban renewal agency, such area shall not be so acquired unless (1) if it is to be developed for residential uses, the local governing body shall determine that a shortage of housing of sound standards and design which is decent, safe and sanitary exists in the municipality; that the need for housing accommodations has been or will be increased as a result of the clearance of slums in other areas; that the conditions of blight in the area and the shortage of decent, safe and sanitary housing cause or contribute to an increase in and spread of disease and crime and constitute a RESOLUTION NO. 2025-02 5 menace to the public health, safety, morals, or welfare; and that the acquisition of the area for residential uses is an integral part of and essential to the program of the municipality, or (2) if it is to be developed for nonresidential uses, the local governing body shall determine that such nonresidential uses are necessary and appropriate to facilitate the proper growth and development of the community in accordance with sound planning standards and local community objectives, which acquisition may require the exercise of governmental action, as provided in this act, because of defective or unusual conditions of title, diversity of ownership, tax delinquency, improper subdivisions, outmoded street patterns, deterioration of site, economic disuse, unsuitable topography or faulty lot layouts, the need for the correlation of the area with other areas of a municipality by streets and modern traffic requirements, or any combination of such factors or other conditions which retard development of the area; WHEREAS, the estimated base assessment roll of the Yellowstone Corridor Project Area, together with the base assessment roll values of the Existing Project Areas, cannot exceed ten percent (10%) of the current assessed values of all the taxable property in the City; WHEREAS, Agency staff and consultants recommend the Agency Board accept the Yellowstone Corridor Plan and forward it to the City Council; WHEREAS, the Agency Board finds it in the best interests of Agency and the public to formally adopt the Yellowstone Corridor Plan, as set forth in Exhibit 1 attached hereto, and to forward it to the Mayor and City Council, and recommend its adoption, subject to certain conditions. NOW, THEREFORE, BE IT RESOLVED BY THE MEMBERS OF THE BOARD OF COMMISSIONERS OF THE URBAN RENEWAL AGENCY OF THE CITY OF CHUBBUCK, IDAHO, A/K/A THE CHUBBUCK DEVELOPMENT AUTHORITY, AS FOLLOWS: Section 1. That the above statements are true and correct. Section 2. It is hereby found and determined that the Yellowstone Corridor Project Area as defined in the Yellowstone Corridor Plan is a deteriorated area, a deteriorating area, or a combination thereof, as defined in the Law and the Act and qualifies as an eligible urban renewal area under the Law. Section 3. That Agency specifically adopts the Yellowstone Corridor Plan along with any changes discussed at the August 19, 2025, Agency Board meeting, including but not limited to finalization of the Attachments to the Yellowstone Corridor Plan, including but not limited to the boundary map, the legal description, the land use and zoning maps, the executed agricultural operation consents, confirmation of taxing district levy rates, confirmation of the affected taxing districts, updated list of projects, estimated location or siting of improvements, and any modifications to the economic feasibility study prepared by Agency consultant Brad Cramer, Perspective Planning & Consulting, LLC. Section 4. That Agency recommends that the Yellowstone Corridor Plan, a copy of which is attached hereto as Exhibit 1, and incorporated herein by reference, be adopted by the City Council, including those changes to sections, modifications, text, and/or insertion or RESOLUTION NO. 2025-02 6 replacement of Attachments to the Yellowstone Corridor Plan as discussed at the August 19, 2025, Agency Board meeting. Section 5. That the required agricultural operation consents will be obtained by the Agency and attached as Attachment 6 to the Yellowstone Corridor Plan prior to City Council consideration of the Yellowstone Corridor Plan. Section 6. That Agency staff, if not attached at the time of the Agency Board's consideration, then prior to consideration of the Yellowstone Corridor Plan by the City Council, Agency staff will include final Attachments to the Yellowstone Corridor Plan, including but not limited to the boundary map, the legal description, properties which may be acquired by the Agency, the maps depicting the zoning and future land uses of the Yellowstone Corridor Project Area, the economic feasibility study, and the agricultural operation consents. Section 7. That this Resolution constitutes the necessary action of Agency under the Act, Idaho Code § 50-2905, recommending approval by the City Council and that the Yellowstone Corridor Plan includes with specificity the following: (1) a statement describing the total assessed valuation of the base assessment roll of the revenue allocation area and the total assessed valuation of all taxable property within the municipality; (2) a statement listing the kind, number, and location of all proposed public works or improvements within the revenue allocation area; (3) an economic feasibility study; (4) a detailed list of estimated project costs; (5) a fiscal impact statement showing the impact of the revenue allocation area, both until and after the bonds are repaid, upon all taxing districts levying taxes upon property in the revenue allocation area; and (6) a description of the methods of financing all estimated project costs and the time when related costs or monetary obligations are to be incurred; (7) a termination date for the plan and the revenue allocation area as provided for in Idaho Code § 50-2903(20); and (8) a description of the disposition or retention of any assets of the agency upon the termination date. Section 8. It is hereby found and determined that: (a) The Yellowstone Corridor Plan gives due consideration to the provision of adequate park and recreation areas and facilities that may be desirable for neighborhood improvement (recognizing the mixed-use, multi -family residential, retail, office, commercial, civic, manufacturing and industrial goals of the Plan) and shows consideration for the health, safety, and welfare of any residents or businesses in the general vicinity of the urban renewal area covered by the Yellowstone Corridor Plan. (b) The Yellowstone Corridor Plan affords maximum opportunity consistent with the sound needs of the City as a whole for the rehabilitation, development, and redevelopment of the Yellowstone Corridor Project Area by private enterprises. (c) To the extent necessary, the Yellowstone Corridor Plan provides a feasible method for relocation of any displaced families residing within the Yellowstone Corridor Project Area. (d) To the extent the Yellowstone Corridor Project Area contains "open land" areas, or areas of agricultural operation, that the Agency may acquire any open land, that the Yellowstone RESOLUTION NO. 2025-02 7 Corridor Project Area is planned to be developed and/or redeveloped in a manner that may include both residential and non-residential uses and that the "open land" criteria set forth in the Law and Act have been met. (e) The portion of the Yellowstone Corridor Project Area which is identified for residential uses is necessary and appropriate as the City Council may find there is a shortage of housing of sound standards and design which is decent, safe and sanitary in the City; that the need for housing accommodations has been or will be increased as a result of the clearance of slums in other areas; that the conditions of blight in the area and the shortage of decent, safe and sanitary housing cause or contribute to an increase in and spread of disease and crime.and constitute a menace to the public health, safety, morals, or welfare; and that the acquisition of the area of residential uses is an integral part of and essential to the program of the City. (f) The portion of the Yellowstone Corridor Project Area, which is identified for non- residential uses, the City Council may find is necessary and appropriate to facilitate the proper growth and development standards in accordance with the objectives of the Comprehensive Plan to overcome economic disuse, the need for improved traffic patterns and the need for the correlation of this area with other areas of the City. (g) The base assessment roll of the Yellowstone Corridor Project Area, together with the base assessment roll value of the Existing Project Areas do not exceed ten percent (10%) of the current assessed values of all the taxable property in the City. (h) The Yellowstone Corridor Plan includes a revenue allocation provision and Agency has determined that the equalized assessed valuation of the revenue allocation area will likely increase as the result of the initiation of an urban renewal project. Section 9. That this Resolution constitutes the necessary action of Agency under the Law, Section 50-2008, Idaho Code, and the Act. Section 10. The Chair, Vice -Chair, or Administrator and the Secretary of the Agency are hereby authorized and directed to take all steps necessary and convenient to submit the proposed Yellowstone Corridor Plan for approval by the City Council, including but not limited to the preparation of the notice of public hearing on adoption of the revenue allocation financing provisions by the City and submittal of the Yellowstone Corridor Plan to the various taxing entities as required by Idaho Code § 50-2906. Section 11. That this Resolution shall be in full force and effect immediately upon its adoption and approval. PASSED By the Urban Renewal Agency of the city of Chubbuck, Idaho, on August 19, 2025. Signed by the Chair of the Board of Commissioners and attested by the Secretary to the Board of Commissioners, on August 19, 2025. APPROVED: RESOLUTION NO. 2025-02 8 ATTEST: By Joey o e cretary RESOLUTION NO. 2025-02 9 Exhibit 1 (Yellowstone Corridor Plan) 4926-7780-7709, v. 1 RESOLUTION NO. 2025-02 10 URBAN RENEWAL PLAN FOR THE YELLOWSTONE CORRIDOR URBAN RENEWAL PROJECT THE URBAN RENEWAL AGENCY OF THE CITY OF CHUBBUCK, IDAHO, ALSO KNOWN AS THE CHUBBUCK DEVELOPMENT AUTHORITY Ordinance No. Adopted Effective TABLE OF CONTENTS 1 Page 100 INTRODUCTION.............................................................................................................. 1 101 General Procedures of the Agency......................................................................... 4 102 Provisions Necessary to Meet State and Local Requirements: Conformance with Idaho Code Sections 50-2008 and 50-2906............................................................ 5 103 History and Current Conditions of the Area........................................................... 6 104 Purpose of Activities............................................................................................... 8 105 Open Land Criteria................................................................................................. 9 200 DESCRIPTION OF PROJECT AREA............................................................................. 10 300 PROPOSED REDEVELOPMENT ACTIONS................................................................ 11 301 General..................................................................................................................11 302 Urban Renewal Plan Objectives........................................................................... 14 303 Participation Opportunities and Agreement.......................................................... 15 303.1 Participation Agreements.......................................................................... 15 304 Cooperation with Public Bodies........................................................................... 17 305 Property Acquisition............................................................................................. 18 305.1 Real Property............................................................................................ 18 305.2 Personal Property...................................................................................... 20 306 Property Management.......................................................................................... 20 307 Relocation of Persons (Including Individuals and Families), Business Concerns, and Others Displaced by the Project..................................................................... 20 308 Demolition, Clearance, and Site Preparation........................................................ 20 309 Property Disposition and Development................................................................ 20 309.1 Disposition by the Agency........................................................................ 20 309.2 Disposition and Development Agreements .............................................. 21 309.3 Development by the Agency..................................................................... 22 310 Development Plans............................................................................................... 23 311 [Reserved]............................................................................................................ 23 312 [Reserved]............................................................................................................ 23 313 Participation with Others...................................................................................... 23 314 Conforming Owners.............................................................................................. 24 400 USES PERMITTED IN THE PROJECT AREA.............................................................. 24 401 Designated Land Uses........................................................................................... 24 402 [Reserved]............................................................................................................. 24 403 Public Rights-of-Way........................................................................................... 24 404 Interim Uses.......................................................................................................... 25 405 Development in the Project Area Subject to the Plan ........................................... 25 406 Construction Shall Comply with Applicable Federal, State, and Local Laws and Ordinances and Agency Development Standards ................................................. 26 407 [Reserved]............................................................................................................. 26 408 Nonconforming Uses............................................................................................ 26 1 409 Design Guidelines for Development under a Disposition and Development Agreement or Owner Participation Agreement .................................................... 26 500 METHODS OF FINANCING THE PROJECT............................................................... 27 501 General Description of the Proposed Financing Method ...................................... 27 502 Revenue Allocation Financing Provisions............................................................ 27 502.1 Economic Feasibility Study...................................................................... 29 502.2 Assumptions and Conditions/Economic Feasibility Statement ................ 29 502.3 Ten Percent Limitation............................................................................. 31 502.4 Financial Limitation.................................................................................. 31 502.5 [Reserved]................................................................................................ 33 502.6 Participation with Local Improvement Districts and/or Business Improvement Districts.............................................................................. 33 502.7 Issuance of Debt and Debt Limitation...................................................... 33 502.8 Impact on Other Taxing Districts and Levy Rate ..................................... 34 503 Phasing and Other Fund Sources.......................................................................... 36 504 Lease Revenue and Bonds.................................................................................... 36 505 Membership Dues and Support of Community Economic Development ............ 36 600 ACTIONS BY THE CITY AND OTHER PUBLIC ENTITIES ...................................... 36 601 Maintenance of Public Improvements.................................................................. 38 700 ENFORCEMENT............................................................................................................. 38 800 DURATION OF THIS PLAN, TERMINATION, AND ASSET REVIEW .................... 38 900 PROCEDURE FOR AMENDMENT OR MODIFICATION .......................................... 40 1000 SEVERABILITY..............................................................................................................40 1100 ANNUAL REPORT AND OTHER REPORTING REQUIREMENTS .......................... 40 1200 APPENDICES, ATTACHMENTS, EXHIBITS, TABLES ............................................. 41 ii Attachments Attachment 1 Boundary Map of Urban Renewal Project Area and Revenue Allocation Area Attachment 2 Legal Description of Urban Renewal Project Area and Revenue Allocation Area Attachment 3 Private Properties Which May be Acquired by the Agency Attachment 4 Map Depicting Expected Land Use and Current Zoning Map of the Project Area Attachment 5 Economic Feasibility Study Attachment 6 Agricultural Operation Consents iii 100 INTRODUCTION This is the Urban Renewal Plan (the "Plan") for the Yellowstone Corridor Urban Renewal Project (the "Project") in the City of Chubbuck (the "City"), state of Idaho. Attachments 1 through 6 attached hereto (collectively, the "Plan Attachments") are incorporated herein and shall be considered a part of this Plan. The term "Project" is used herein to describe the overall activities defined in this Plan and conforms to the statutory definition of an urban renewal project. Reference is specifically made to Idaho Code §§ 50-2018(10) and 50-2903(13) for the various activities contemplated by the term "Project." Such activities include both private and public development of property within the urban renewal area. The Yellowstone Corridor Project Area is also referred to as the "Project Area" or the "Revenue Allocation Area." This Plan was prepared by the Board of Commissioners (the "Agency Board") of the Urban Renewal Agency of the City of Chubbuck, also known as the Chubbuck Development Authority (the "Agency"), its consultants, and staff, and reviewed and recommended by the Agency pursuant to the Idaho Urban Renewal Law of 1965, Chapter 20, Title 50, Idaho Code, as amended (the "Law"), the Local Economic Development Act, Chapter 29, Title 50, Idaho Code, as amended (the "Act"), and all applicable local laws and ordinances. Plan Required Information Idaho Code § 50-2905 identifies what information the Plan must include with specificity as follows: (1) A statement describing the total assessed valuation of the base assessment roll of the revenue allocation area and the total assessed valuation of all taxable property within the municipality. (2) A statement listing the kind, number, and location of all proposed public works or improvements within the revenue allocation area. (3) An economic feasibility study. (4) A detailed list of estimated project costs. (5) A fiscal impact statement showing the impact of the revenue allocation area, both until and after the bonds are repaid, upon all taxing districts levying taxes upon property on the revenue allocation area. (6) A description of the methods of financing all estimated project costs and the time when related costs or monetary obligations are to be incurred; (7) A termination date for the plan and the revenue allocation area as provided for in section 50-2903(20), Idaho Code. In determining the termination date, the plan shall recognize that the agency shall receive allocation of revenues in the calendar year following the last year of the revenue allocation provision described in the urban renewal plan. (8) A description of the disposition or retention of any assets of the agency upon the termination date. Provided however, nothing herein shall prevent the agency from retaining assets or revenues generated from such assets as long as the agency shall have resources other than revenue allocation funds to operate and manage such assets. This Plan includes the above information with specificity. The proposed development and redevelopment of the Project Area as described in this Plan conforms to the City of Chubbuck Comprehensive Plan, Chubbuck 2045: Comprehensive Plan (the "Comprehensive Plan"), and adopted by the Chubbuck City Council (the "City Council"). The Agency intends to rely heavily on any applicable City design standards which may cover all or part of the Project Area. This Plan is subject to the Plan modification limitations and reporting requirements set forth in Idaho Code § 50-2903A. Subject to limited exceptions as set forth in Idaho Code § 50-2903A, if this Plan is modified by City Council ordinance, then the base value for the year immediately following the year in which modification occurs shall include the current year's equalized assessed value of the taxable property in the revenue allocation area, effectively eliminating the Agency's revenue stream. A modification shall not be deemed to occur when "[t]here is a plan amendment to make technical or ministerial changes to a plan that does not involve an increase in the use of revenues allocated to the agency." Idaho Code § 50-2903A(1)(a)(i). Annual adjustments, as more specifically set forth in the Agency's annual budget, will be required to account for more/less estimated revenue and project timing, including the specific location and prioritization of projects. Any adjustments for these stated purposes are technical and ministerial and are not modifications under Idaho Code § 50-2903A. Further, a modification shall not be deemed to occur when "[t]here is a plan amendment to support growth of an existing commercial or industrial project in an existing revenue allocation area, subject to the provisions of section 50-2905A, Idaho Code." Idaho Code § 50-2903A(1)(a)(iv). The proposed development of the Project Area includes primarily mixed-use, commercial, office, retail, multi -family residential and industrial projects. Any adjustment to the list of improvements and/or revenue stream to support growth of the proposed commercial and industrial projects is not a modification under Idaho Code § 50-2903A. This Plan provides the Agency with powers, duties, and obligations to implement and further the program generally formulated in this Plan for the development, redevelopment, rehabilitation, and revitalization of the area within the boundaries of the Project Area. The Agency retains all powers allowed by the Law and Act. This Plan presents a process and a basic N framework within which plan implementation, including contracts, agreements and ancillary documents will be presented and by which tools are provided to the Agency to fashion, develop, and proceed with plan implementation. The Plan has balanced the need for flexibility over the twenty (20) -year timeframe of the Plan to implement the improvements identified in Attachment 5, with the need for specificity as required by Idaho Code § 50-2905. The Plan narrative addresses the required elements of a plan set forth in Idaho Code § 50-2905(1), (2), (5), (7) and (8). Attachment 5, together with the Plan narrative, meets the specificity requirement for the required plan elements set forth in Idaho Code § 50-2905(2)-(6), recognizing that actual Agency expenditures are prioritized each fiscal year during the required annual budgeting process. General Plan Objectives Allowed projects are those activities which comply with the Law and the Act and meet the overall objectives of this Plan. The public-private relationship is crucial in the successful development and redevelopment of the Project Area. Typically, the public will fund enhanced public improvements like utilities, streets, and sidewalks which, in turn, establish the necessary infrastructure to support adjacent private investment, which in this case includes mixed-use, commercial, office, residential, retail, and industrial facilities. The purpose of the Law and Act will be attained through the implementation of the Plan. The guiding goals of this Plan are: a. The installation and construction of public improvements, including new local and collector streets to support future development; improvements to existing roadways and intersections, including but not limited to improvements to, and adjacent to, the Yellowstone Highway Corridor between Siphon Road/New Day Parkway and Interstate 86; installation of curbs, gutters and streetscapes throughout the Project Area, which for purposes of this Plan, the term "streetscapes" includes sidewalks, multi -use pathways, lighting, landscaping/landscape islands, benches, bike racks, signage/wayfinding, public art and similar amenities between the curb and right of way line; sidewalk widening projects; intersection improvements and signalization; installation and/or improvements to fiber optic facilities; improvements to public utilities including water and sewer improvements, and fire protection systems; removal, burying, or relocation of overhead utilities; extension of electrical distribution lines and transformers; improvement of irrigation canals and drainage ditches and laterals; installation and construction of pathways; and improvement of storm drainage facilities; b. The planning, design, construction, and reconstruction of local, collector and arterial roads to support access management; walkability and bikeability; and to continue to support high-quality mixed-use activity centers; C. The replanning, redesign, and development of undeveloped or underdeveloped areas which are stagnant or improperly utilized because of deteriorating conditions, limited traffic access, underserved utilities, and other site conditions; 3 d. The strengthening of the economic base of the Project Area and the community by the installation of needed public improvements to stimulate new private development providing transportation and mobility improvements; greater housing density and diversity of housing stock; office buildings; public amenities; increased employment opportunities and economic growth; The provision of adequate land for open space, street rights-of-way and pedestrian rights-of-way, including pathways, wider sidewalks and lighting improvements; establishment of a new City park; improvements to existing parks and open space, and the installation of community event space; f. Brownfield and environmental remediation, including building demolition and site remediation; g. The reconstruction and improvement of street corridors to allow traffic flows to move through the Project Area along with the accompanying utility connections, through the Project Area; h. In conjunction with the City, the establishment and implementation of performance criteria to assure high site design standards and environmental quality and other design elements which provide unity and integrity to the entire Project Area, including commitment of funds for planning studies, achieving high standards of development, and leveraging such development to achieve public objectives and efficient use of scarce resources; The strengthening of the tax base by encouraging private development, thus increasing the assessed valuation of properties within the Project Area as a whole and benefiting the various taxing districts in which the urban renewal area is located; The acquisition of real property to support development and/or redevelopment initiatives consistent with the Law and Act; k. The design, installation, construction and/or redevelopment of public parking facilities and structures; 1. The funding of necessary public infrastructure to accommodate both public and private development. 101 General Procedures of the Agency The Agency is a public body, corporate and politic, as defined and described under the Law and the Act. The Agency is governed by its bylaws, as authorized by the Law, and adopted by the Agency. Under the Law, the Agency is governed by the Idaho open meeting law; the Public Records Act; the Ethics in Government Act of 2015, Chapters 1, 2 and 4 of Title 74, Idaho Code; reporting requirements pursuant to Idaho Code §§ 67-450B, 67-1076, 50-2903A and 2 50-2913; and the competitive bidding requirements under Chapter 28, Title 67, Idaho Code, as well as other procurement or other public improvement delivery methods. Subject to limited exceptions, the Agency shall conduct all meetings in open session and allow meaningful public input as mandated by the issue considered or by any statutory or regulatory provision. The Agency may adopt separate policy statements. Any modification to any policy statement is a technical or ministerial adjustment and is not a modification to this Plan under Idaho Code § 50-2903A. 102 Provisions Necessary to Meet State and Local Requirements: Conformance with Idaho Code Sections 50-2008 and 50-2906 Idaho law requires that the City Council, by resolution, must determine a geographic area be a deteriorated area or a deteriorating area, or a combination thereof, and designate such area as appropriate for an urban renewal project prior to preparation of an urban renewal plan. A consultant, Perspective Planning & Consulting, was retained to study a proposed 660 -acre project area (the "Study Area") and prepare an eligibility report. The Study Area Eligibility Study (the "Report") was submitted to the Agency. The Agency accepted the Report by Agency Resolution No. 2025-1 on May 20, 2025, and thereafter submitted the Report to the City Council for its consideration. The Study Area was deemed by the City Council to be a deteriorating area and/or a deteriorated area and therefore eligible for an urban renewal project by adoption of Resolution No. 2025-05 on June 4, 2025. With the adoption of Resolution No. 2025-05, the City Council declared the Study Area described in the Report to be a deteriorated area and/or a deteriorating area as defined by the Law and Act and directed the Agency to prepare an urban renewal plan. Since the base assessment roll value for the Study Area together with the combined base assessment roll values for the existing revenue allocation areas exceeded ten (10%) percent of the current assessed valuation of all taxable property within the City, the City Council further directed the Agency to review the boundary of the Study Area in planning for the proposed Project Area boundary to ensure compliance with the requirements of Idaho Code Section 50- 2903(15). To comply with Idaho Code Section 50-2913(15), the proposed Project Area is approximately 389 acres, which is significantly smaller than the proposed boundary in the Study Area. Under the Law and Act, Idaho Code Sections 50-2903(8)(f) and 50-2018(8) and (9), the definition of a deteriorating area shall not apply to any agricultural operation as defined in Section 22-4502(2), Idaho Code, absent the consent of the owner of the agricultural operation except for an agricultural operation that has not been used for three (3) consecutive years. In accordance with the Law and Act, the necessary agricultural operation consents were obtained from the owners of the agricultural operation within the Project Area for property that has been used as an agricultural operation within the last three (3) years. Copies of the agricultural operation consents are attached hereto as Attachment 6. 5 The Plan was prepared and submitted to the Agency for its review and approval. The Agency approved the Plan by the adoption of Agency Resolution No. 2025-02 and submitted the Plan to the City Council with its recommendation for adoption. In accordance with the Law, this Plan was submitted to the Land Use and Development Commission of the City. After consideration of the Plan, the Commission, by resolution, reported to the City Council that this Plan is in conformity with the City's Comprehensive Plan. Pursuant to the Law and Act, the City Council having published due notice thereof, a public hearing was held on this Plan. Notice of the hearing was duly published in the Idaho State Journal, a newspaper having general circulation in the City. The City Council adopted this Plan on , by Ordinance No. 103 History and Current Conditions of the Area This Project Area includes approximately 389 +/- acres and is generally bounded by New Day Parkway/Siphon Road on the north, a Union Pacific rail line and Whitaker Road on the east, I-86 to the south, and Hawthorne Road on the west. The Project Area is centered along the Yellowstone Highway Corridor between New Day Parkway/Siphon Road on the north and I-86 to the south and expanding to the east and the west of the Yellowstone Highway Corridor. As noted in Section 102, the Project Area is smaller than the Study Area to comply with the valuation limitations in Idaho Code Section 50-2903(15).All parcels in the Project Area are within the city of Chubbuck city limits. The Project Area overlays multiple land use zones mostly focused on mixed-use, commercial and higher density residential zones, including Limited Commercial (C-1), General Commercial (C-2), Limited Residential (R-2), Agriculture (A), Village (V), Industrial (I) and Dense Residential (R-4). The Project Area contains a mix of uses, including commercial, retail, office, residential, industrial, and civic, with buildings of diverse construction dates, varying in condition and states of deterioration. Within the Project Area, there are several pockets of vacant and re -developable parcels. The Report found deteriorating infrastructure throughout the Project Area, including deteriorating rights-of-way, with asphalt in poor condition and missing sections of curb, gutter and sidewalk, or wider sidewalks required along roadways with higher speed. Several rights-of-way include public and private segments, or lack connectivity to the broader street network. In general, bicycle and pedestrian connectivity is fragmented throughout the Project Area and there are limited road crossings on the major roadways, including Chubbuck Road and the Yellowstone Highway. The City has identified needed water and sewer utility improvements to support full buildout of the Project Area and without improvement presents a significant impediment to development. Based on the current conditions, development potential within the Project Area is currently restricted due to defective or inadequate roadways, including broken or missing sidewalk and curbs and/or streets and pedestrian facilities that are not improved to urban Co standards, as well as, necessary improvements to municipal water and wastewater facilities and systems, which may be undersized for their envisioned purposes. The age of public infrastructure and related safety concerns have impeded the ability for this area to fully realize its long-term goals as a dense, mixed-use, vibrant area. As more fully set forth in the Report, the Project Area lacks the public infrastructure necessary to properly serve the revitalization goals, including economic development and housing opportunities, as contemplated by the City's Comprehensive Plan. The Plan proposes installation and improvements to public infrastructure and other publicly owned assets throughout the Project Area, as more specifically set forth in Attachment 5, creating the opportunity to support mixed-use, commercial, office, retail, multi -family residential and industrial projects development projects consistent with the City's Comprehensive Plan. The Project Area is underdeveloped and is not being used to its highest and best use due to the presence of a substantial number of deteriorated or deteriorating structures/deterioration of site; age or obsolescence; the predominance of defective or inadequate street layout; outmoded street patterns; lack of correlation of the area with other areas of the City by streets and modern traffic requirements; faulty lot layout in relation to size, adequacy, accessibility or usefulness/obsolete platting; insanitary or unsafe conditions; diversity of ownership; the existence of conditions that endanger life or property by fire and other causes; and inadequate utility infrastructure needed to support desired development within the Project Area. These conditions result in the economic underdevelopment of the area and substantially impair or arrest the sound growth of the City. The preparation and approval of an urban renewal plan, including a revenue allocation financing provision, gives the City additional resources to solve the public infrastructure and development impediment issues in this area. Revenue allocation financing should help to improve the situation. This Plan will help to deliver development outcomes with significant public benefit which the market will not otherwise deliver on its own. In effect, property taxes generated by new developments within the Project Area may be used by the Agency to finance a variety of needed public improvements and facilities. Finally, economic development opportunities may generate new jobs in the Project Area and will increase the tax base, which in turn, could be a factor in lowering taxes, benefiting area residents long-term. These new developments could support a variety of housing opportunities with diverse rental and income ranges, which supports and adds to the fabric of the neighborhoods and activity centers in the Project Area. It is unlikely that individual developers or public partners will take on the prohibitive costs of constructing the necessary infrastructure in the Project Area without the ability of revenue allocation to help offset at least some of these costs. But for urban renewal and revenue allocation financing, the proposed public improvements to support revitalization of the Project Area would not occur. 7 104 Purpose of Activities Attachment 5 includes the public projects list identifying with specificity the proposed public improvements and projects contemplated in the Project Area. The estimated project costs of the full public projects list exceed the anticipated revenue projections over the duration of the Project Area. Based on discussion during a joint meeting of the Agency and City Council, direction was provided on project prioritization including improvements to Yellowstone Avenue, including traffic signals, turn lanes and landscaped medians; the widening of Siphon Road; and other achievable projects. Using the guidance provided by the public entities, the Study allocated and prioritized projects from the public project list. Project prioritization is based on year and tranches of funding, with those improvements occurring earlier identified as those that are most important to incent revitalization and new development. Additional unfunded projects are identified in the overall project list but are not specifically prioritized. These are projects that may be advance funded by developers; have alternative sources of funding; or may be re - prioritized depending on how development occurs within the Project Area. The Yellowstone Corridor Project Area is projected to generate sufficient revenue allocation proceeds to fund the top priority projects in the Project Area as outlined in the Study. Attachment 5 identifies the estimated location of the proposed projects in the Project Area. The description of activities, public improvements, and the estimated costs of those items are intended to create an outside limit of the Agency's activity. Due to the inherent difficulty in projecting future levy rates, future taxable value, and the future costs of construction, the Agency reserves the right to: a. Change funding amounts from one Project to another. b. Re -prioritize the Projects described in this Plan and the Plan Attachments, including eligible projects shown on the projects list may be substituted for priority projects.. C. Retain flexibility in funding the various activities in order to best meet the Plan and the needs of the Project Area. d. Retain flexibility in determining whether to use the Agency's funds or funds generated by other sources. e. Alter the location of proposed improvements identified in Attachment 5 to support development when it occurs. The information included in Attachment 5 presents a proposed, realistic development scenario, projected timeline, and location, recognizing the siting of improvements is difficult to project with any certainty where the improvements will not be sited until any future projects submit plans to the City for design review and permitting. The Agency intends to discuss and negotiate with any owner or developer of the parcels within the Project Area seeking Agency assistance during the duration of the Plan and Project Area. During such negotiation, the Agency will determine the eligibility of the activities sought for Agency funding, the amount the Agency may fund by way of percentage or other criteria including the need for such assistance. The Agency will also take into account the amount of revenue allocation proceeds estimated to be generated from the developer's activities. The Agency also reserves the right to establish, by way of policy, its funding percentage or participation, which would apply to all developers and owners. Throughout this Plan, there are references to Agency activities, Agency funding, and the development, and contribution of public improvements. Such references do not necessarily constitute a full, final, and formal commitment by the Agency but, rather, grant to the Agency the discretion to participate as stated subject to achieving the objectives of this Plan and provided such activity is deemed eligible under the Law and the Act. The activities listed in Attachment 5. will be determined or prioritized as the overall Project Area develops and through the annual budget setting process. The activities listed in Attachment 5 are also prioritized by way of importance to the Agency by the amounts funded, and by year of funding, with earlier years reflecting the more important activities, achievement of higher objectives, long term goals, and commitments. As required by the Law and Act, the Agency will adopt more specific budgets annually. The projected timing of funding is primarily a function of market conditions and the availability of financial resources but is also strategic, considering the timing of private development partnership opportunities and the ability of certain strategic activities to stimulate development at given points in time within the planned 20 -year period of the Plan and Project Area. The Study (Attachment 5) describes a list of prioritized public improvements and other related activities to be funded with revenue allocation proceeds with an estimated cost of approximately $50-72 million dollars. This amount takes into account inflationary factors, such as increasing construction costs, which increases the costs depending on when the public entity, owner, developer and/or Agency is able to develop, construct or initiate those activities. The Study has concluded the capacity of revenue allocation funds through the term of the Plan based on the projected new development projects and assessed value increases will likely generate an estimated $50-72 million dollars depending on development scenario. The Study has further identified and described a list of unfunded projects and public improvements. The Agency reserves the discretion and flexibility to use revenue allocation proceeds in excess of the amounts predicted in the event higher increases in assessed values occur during the term of the Plan for the improvements and activities identified in Attachment Sand this Plan. Additionally, the Agency reserves the discretion and flexibility to use other sources of funds unrelated to revenue allocation to assist in the funding of the improvements and activities identified in Attachment5 and this Plan. 105 Open Land Criteria This Plan contemplates Agency acquisition of property within the Project Area, in part, to support economic development/demonstration projects, right-of-way acquisition and housing. The Project Area is not predominantly open; however, the Project Area includes a few parcels that are vacant and/or transitioning agricultural operations that could meet the undefined "open land" intent requiring the area meet the conditions set forth in Idaho Code § 50-2008(d). These conditions include defective or unusual conditions of title, diversity of ownership, tax delinquency, improper subdivisions, outmoded street patterns, deterioration of site, and faulty lot X layout, all of which are included in one form or another in the definitions of deteriorated area or deteriorating area set forth in Idaho Code §§ 50-2018(8), (9) and 50-2903(8). The issues listed only in Idaho Code § 50-2008(d)(4)(2) (the open land section) include economic disuse, unsuitable topography, and "the need for the correlation of the area with other areas of a municipality by streets and modern traffic requirements, or any combination of such factors or other conditions which retard development of the area." Open land areas qualify for Agency acquisition and development for residential uses if the City Council determines there is a shortage of housing of sound standards and design which is decent, safe and sanitary in the City, that the need for housing will be increased as a result of the clearance of deteriorated areas, that the conditions of blight in the area and the shortage of decent, safe and sanitary housing contributes to an increase in the spread of disease and crime and constitutes a menace to the public health, safety, morals, or welfare, and that the acquisition of the area for residential uses is an integral part of and essential to the program of the City. Due to the City's expected growth, the need for housing is significant and integral to a successful mixed-use Project Area. Further, the existing zoning designations in the Project Area allow for mixed -density residential, and the future land use map shows areas of projected increased residential density. Open land areas qualify for Agency acquisition and development for primarily nonresidential uses if acquisition is necessary and appropriate to facilitate the proper growth and development of the community in accordance with sound planning standards and local community objectives if any of the deteriorating area conditions set forth in Idaho Code §§ 50- 2018(8), (9) and 50-2903(8) apply. But such areas also qualify if any of the issues listed only in Idaho Code § 50-2008(d)(4)(2) apply. The parcel size, the needed improvements to the water and sewer facilities to support future development; deteriorating rights-of-way and fragmented streetscapes, including curb, gutter, sidewalks, and storm drainage facilities, are all conditions with delay development in the Project Area. Further, the presence of a substantial number of deteriorated or deteriorating structures/deterioration of site; the age or obsolescence of existing uses; a predominance of defective or inadequate street layout; outmoded street patterns; faulty lot layout in relation to size, adequacy, accessibility or usefulness/obsolete platting; insanitary or unsafe conditions; diversity of ownership; and economic disuse are all conditions which delay or impair development of the open land areas and satisfy the open land conditions as more fully supported by the Study Area Eligibility Report, prepared by Perspective Planning & Consulting LLC. This Plan anticipates Agency acquisition of property within the Project Area; however, the acquisition of specific parcels is unknown at this time. Should the Agency determine the need to acquire property as further set forth in Attachment 3, then the open land areas in the Project Area qualify for Agency acquisition and development. 200 DESCRIPTION OF PROJECT AREA The boundaries of the Project Area and the Revenue Allocation Area are shown on the Boundary Map of Urban Renewal Project Area and Revenue Allocation Area, attached hereto as Attachment 1 and incorporated herein by reference, and are described in the Legal Description of 10 Urban Renewal Project Area and Revenue Allocation Area, attached hereto as Attachment 2 and incorporated herein by reference. For purposes of boundary descriptions and use of proceeds for payment of improvements, the boundary shall be deemed to extend to the outer boundary of rights-of-way or other natural boundary unless otherwise stated. The Project Area does not intend to include right-of-way that is currently within unincorporated Bannock County. 300 PROPOSED REDEVELOPMENT ACTIONS 301 General The Agency proposes to eliminate and prevent the spread of deteriorating conditions and deterioration in the Project Area by employing a strategy to improve and develop public and private lands, and to grow the economy in the Project Area. Implementation of the strategy includes, but is not limited to the following actions: a. The engineering, design, installation, construction, and/or reconstruction of storm water management infrastructure to support compliance with federal, state, and local regulations for storm water discharge and to support private development; b. The provision for participation by property owners and developers within the Project Area to achieve the objectives of this Plan; C. The engineering, design, installation, construction, and/or reconstruction of the transportation network within the Project Area, including all streets and streetscapes within the Project Area, with a focus on enhancements to Yellowstone Avenue, Chubbuck Road, Siphon Road, Briscoe Road, Valenty Street, Ward Street, Knudsen Boulevard, Highway Avenue, Evans Lane, West Linden Avenue, Afton Avenue and Park Lawn Drive, and related pedestrian and bicycle facilities, sidewalk, curb and gutter, intersection improvements, road widenings, and traffic signals (if needed), and the engineering, design, installation, and construction of additional road throughout the Project Area to support future development; d. The engineering, design, installation, construction and/or reconstruction of sidewalks and related pedestrian and bicycle facilities, curb and gutter and streetscapes, which for purposes of this Plan, the term streetscapes include sidewalks, lighting, landscaping, benches, signage, way -finding, bike racks, public art, and similar amenities between the curb and right-of-way line; and other public improvements, including multi -use pathways with landscape buffers and public open spaces, including but not limited to community event spaces, public parking facilities, and plazas; e. The engineering, design, installation, construction, and/or reconstruction of utilities (within and outside of the Project Area) including but not limited to improvements and upgrades to the water distribution system, including extension of the water distribution system, water capacity improvements, including to 11 increase fire flows, water storage upgrades, wastewater system improvements and upgrades, including extension of the wastewater collection system, lift stations, and improvements, and upgrades to power, gas, fiber optics, communications and other such facilities. To the extent construction of utilities outside of the Project Area are identified, such improvements are directly related to the growth and development within the Project Area, but cannot be sited within the Project Area; f. The engineering, design, installation, construction, and/or reconstruction of public parking facilities, including structured parking facilities; g. Removal, burying, or relocation of overhead utilities; removal or relocation of underground utilities; extension of electrical distribution lines and transformers; improvement of irrigation canals and drainage ditches and laterals; undergrounding or piping of laterals; addition of fiber optic lines or other communication systems; public parking facilities, and other public improvements, including but not limited to, fire protection systems, floodway and flood zone mitigation; and other public improvements that may be deemed appropriate by the Board; h. The acquisition of real property for public right-of-way and streetscape improvements, utility undergrounding, extension, upgrades, public parks, plazas, community spaces and trails, pedestrian facilities, pathways and trails, community event space and to encourage housing diversity, enhance transportation and mobility options, decrease underutilized parcels and surface parking lots, create development opportunities consistent with the Plan, including but not limited to future disposition to qualified developers for qualified developments; The disposition of real property through a competitive process in accordance with this Plan, Idaho law, including Idaho Code § 50-2011, and any disposition policies adopted by the Agency; j. The demolition or removal of certain buildings and/or improvements for public rights-of-way and streetscape improvements, pedestrian facilities, utility undergrounding extension and upgrades, public parks and trails, public facilities, and to encourage and enhance housing diversity, enhance transportation and mobility options, decrease underutilized parcels and surface parking lots, to eliminate unhealthful, unsanitary, or unsafe conditions, eliminate obsolete or other uses detrimental to the public welfare or otherwise to remove or to prevent the spread of deteriorating or deteriorated conditions; k. The management of any property acquired by and under the ownership and control of the Agency; The development or redevelopment of land by private enterprise or public agencies for uses in accordance with this Plan; 12 M. The construction and financial support of infrastructure necessary for the provision of improved transit and alternative transportation; n. The engineering, design, installation, construction, and/or reconstruction of below ground infrastructure to support the construction of certain municipal buildings pursuant to Idaho Code § 50-2905A; o. The provision of financial and other assistance to encourage and attract business enterprise including but not limited to start-ups and microbusinesses, mid-sized companies and large-scale corporations and industries; P. The provision of financial and other assistance to encourage greater density and a diverse mix of rental rates and housing options; q. The rehabilitation of structures and improvements by present owners, their successors, and the Agency; r. The preservation and/or restoration of historic and/or cultural assets as amenities, including but not limited to facade restoration; S. The preparation and assembly of adequate sites for the development and construction of facilities for housing, retail areas, cultural centers, commercial, and governmental use; t. City to amend zoning regulations (if necessary) and standards and guidelines for the design of streetscape, festival streets, multi -use pathways, parks, plazas and open space and other like public spaces applicable to the Project Area as needed to support implementation of this Plan; U. In conjunction with the City, the establishment and implementation of performance criteria to assure high site design standards and environmental quality and other design elements which provide unity and integrity to the entire Project Area, including commitment of funds for planning studies, achieving high standards of development, and leveraging such development to achieve public objectives and efficient use of scarce resources; V. To the extent allowed by law, lend or invest federal funds to facilitate development and/or redevelopment; W. The provision for relocation assistance to displaced Project Area occupants, as required by law, or within the discretion of the Agency Board for displaced businesses; X. Agency and/or owner -developer construction, participation in the construction and/or management of public parking facilities and/or surface lots that support a desired level and form of development to enhance the vitality of the Project Area; 13 Y- The environmental assessment and remediation of brownfield sites, or sites where environmental conditions detrimental to development and/or redevelopment exist; Z. Agency participation in the remediation of any brownfield or other environmental conditions present in the Project Area; and aa. Other related improvements to those set forth above as further set forth in Attachment 5. In the accomplishment of these purposes and activities and in the implementation and furtherance of this Plan, the Agency is authorized to use all the powers provided in this Plan and all the powers now or hereafter permitted by Law and Act. 302 Urban Renewal Plan Objectives Urban renewal activity is necessary in the Project Area to combat problems of physical deterioration or deteriorating conditions. As set forth in greater detail in Section 103, the Project Area has a history of stagnant growth and development compared to other areas of the City based on deteriorated or deteriorating conditions that have arrested or impaired growth in the Project Area primarily attributed to: the presence of a substantial number of deteriorated or deteriorating structures; deterioration of site; age or obsolescence of existing uses; a predominance of defective or inadequate street layout; outmoded street patterns; need for correlation of area with other areas of the City by streets and modern traffic requirements; faulty lot layout in relation to size, adequacy, accessibility or usefulness/obsolete platting; insanitary or unsafe conditions; diversity of ownership; economic disuse; and inadequate utility infrastructure needed to support desired development. The Plan for the Project Area is a proposal to work in partnership with public and private entities to improve, develop, and grow the economy within the Project Area by the implementation of a strategy and program set forth in Section 301. The provisions of this Plan are applicable to all public and private property in the Project Area. The provisions of the Plan shall be interpreted and applied as objectives and goals, recognizing the need for flexibility in interpretation and implementation, while at the same time not in any way abdicating the rights and privileges of the property owners which are vested in the present and future zoning classifications of the properties. All development under an owner participation agreement shall conform to those standards specified in Section 303.1 of this Plan. This Plan must be practical in order to succeed. Particular attention has been paid to how it can be implemented, given the changing nature of market conditions. Transforming the Project Area into a vital, thriving part of the community requires an assertive strategy. The following list represents the key elements of that effort: a. Initiate simultaneous projects designed to revitalize the Project Area. From street and utility improvements to significant new public or private development, the Agency plays a key role in creating the necessary momentum to get and keep things going. 14 b. Promote mixed-use, commercial, office, retail, multi -family residential and industrial projects within the Project Area that is oriented toward creating activity centers and provides economic, civic, recreational, and residential opportunities for surrounding neighborhoods. C. Secure and improve certain public open space and community facilities in critical areas. d. Initiate projects designed to increase density, encourage activity centers, and provide workforce transportation and mobility options. Without direct public intervention, much of the Project Area could conceivably remain unchanged and in a deteriorated and/or deteriorating condition for the next twenty (20) years. The Plan creates the necessary flexible framework for the Project Area to support the City's economic development while complying with the "specificity" requirement set forth in Idaho Code § 50-2905. Land use in the Project Area will be modified to the extent that underutilized, underdeveloped, and vacant land and land now devoted to uses inconsistent with the future land uses of the area will be converted to mixed-use, commercial, office, retail, multi -family residential, community uses and industrial projects The Agency shall give due consideration to the provision of adequate open space, park and recreational areas and facilities that may be desirable for neighborhood improvement, with special consideration for the health, safety, and welfare of residents in the general vicinity of the Project Area covered by the Plan. Additional considerations include overall neighborhood improvements, special consideration for housing, and transportation and mobility options. 303 Participation Opportunities and Agreement 303.1 Participation Agreements The Agency shall enter into various development participation agreements with any existing or future owner of property in the Project Area, in the event the property owner receives assistance from the Agency in the development and/or redevelopment of the property. The term "owner participation agreement" or "participation agreement" is intended to include all participation agreements with a property owner, including reimbursement agreements, grant agreements or other participation agreements. In that event, the Agency may allow for an existing or future owner of property to remove the property and/or structure from future Agency acquisition subject to entering into an owner participation agreement. The Agency may also enter into owner participation agreements with other future owners and developers within the Project Area throughout the duration of this Plan in order to implement the infrastructure improvements set forth in this Plan. Each structure and building in the Project Area to be rehabilitated or to be constructed as a condition of the owner participation agreement between the Agency and the owner pursuant to this Plan will be considered to be satisfactorily rehabilitated and constructed, and the Agency 15 will so certify, if the rehabilitated or new structure meets the standards set forth in an executed owner participation agreement and meets the conditions described below: a. Any such property within the Project Area shall be required to conform to all applicable provisions, requirements, and regulations of this Plan. The owner participation agreement may require as a condition of financial participation by the Agency a commitment by the property owner to meet the greater objectives of the land use elements identified in the Comprehensive Plan, and applicable zoning ordinances. Upon completion of any rehabilitation each structure must be safe and sound in all physical respects and be refurbished and altered to bring the property to an upgraded marketable condition that will continue throughout an estimated useful life for a minimum of twenty (20) years. b. Any owner shall give due consideration to the provision of adequate park and recreational areas and facilities that may be desirable for neighborhood improvement, with special consideration for the health, safety and welfare of children and seniors residing in the general vicinity of the site covered by the Plan. C. All such buildings or portions of buildings which are to remain within the Project Area shall be rehabilitated or constructed in conformity with all applicable codes and ordinances of the City. d. Any new construction shall also conform to all applicable provisions, requirements, and regulations of this Plan, as well as to all applicable codes and ordinances of the City. All owner participation agreements will address phasing issues, development timing, justification and eligibility of proiect costs, and achievement of the obiectives of the Plan. The Agency shall retain its discretion in the funding level of its participation. Obligations under owner participation agreements shall terminate no later than the termination date of this Plan, December 31, 2045. The Agency shall retain its discretion to negotiate an earlier date to accomplish all obligations under any owner participation agreement. In all participation agreements, participants who retain real property shall be required to join in the recordation of such documents as may be necessary to make the provisions of this Plan applicable to their properties. Whether or not a participant enters into a participation agreement with the Agency, the provisions of this Plan are applicable to all public and private property in the Project Area. In the event a participant fails or refuses to rehabilitate, develop, use, and maintain its real property pursuant to this Plan and a participation agreement, the real property or any interest therein may be acquired by the Agency in accordance with Section 305.1 of this Plan and sold or leased for rehabilitation or development in accordance with this Plan. Owner participation agreements may be used to implement the following objectives: 16 a. Encouraging property owners to revitalize and/or remediate deteriorated areas or deteriorating areas of their parcels to accelerate development in the Project Area. b. Subject to the limitations of the Law and the Act, providing incentives to property owners to encourage utilization and expansion of existing permitted uses during the transition period to prevent a decline in the employment base and a proliferation of vacant and deteriorated parcels in the Project Area during the extended redevelopment of the Project Area. C. To accommodate improvements and expansions allowed by City regulations. d. Subject to the limitations of the Law and Act, providing incentives to improve nonconforming properties so they implement the design guidelines contained in this Plan to the extent possible and to encourage an orderly transition from nonconforming to conforming uses through the term of the Plan. e. Provide for advance funding by the developer/owner participant of those certain public improvements related to or needed for the private development and related to the construction of certain public improvements. In that event, the Agency will agree as set out in the participation agreement to reimburse a portion of, or all of, the costs of public improvements identified in the participation agreement from the revenue allocation generated by the private development. 304 Cooperation with Public Bodies Certain public bodies are authorized by state law to aid and cooperate, with or without consideration, in the planning, undertaking, construction, or operation of this Project. The Agency shall seek the aid and cooperation of such public bodies and shall attempt to coordinate this Plan with the activities of such public bodies in order to accomplish the purposes of redevelopment and the highest public good. The Agency, by law, is not authorized to acquire real property owned by public bodies without the consent of such public bodies. The Agency will seek the cooperation of all public bodies which own or intend to acquire property in the Project Area. All plans for development of property in the Project Area by a public body shall be subject to Agency approval, in the event the Agency is providing any financial assistance. Subject to applicable authority, the Agency may impose on all public bodies the planning and design controls contained in this Plan to ensure that present uses and any future development by public bodies will conform to the requirements of this Plan. The Agency is authorized to financially (and otherwise) assist any public entity in the cost of public land, buildings, facilities, structures, or other improvements of the Project Area as allowed by the Law and Act. The Agency intends to cooperate to the extent allowable with the City (or the Idaho Transportation Department), as the case may be, for the engineering, design, installation, construction, and/or reconstruction of public infrastructure improvements, including, but not 17 limited to water, sewer, storm drainage, electrical, natural gas, telecommunication, or other similar systems and lines, streets, roads, curbs, gutters, sidewalks, walkways, parking facilities and unoccupied auxiliary structures. The Agency shall also cooperate with the City (or the Idaho Transportation Department) on various relocation, screening, or undergrounding projects and the providing of fiber optic capability. To the extent any public entity, including the City, has funded certain improvements, the Agency may reimburse those entities for those expenses. The Agency also intends to cooperate and seek available assistance from state, federal and other sources for economic development. In the event the Agency is participating in the public development by way of financial incentive or otherwise, the public body shall enter into a participation agreement with the Agency and then shall be bound by the Plan and other land use elements and shall conform to those standards specified in Section 303.1 of this Plan. This Plan does not financially bind or obligate the City, Agency and/or any other public entity to any project or property acquisition; rather, for purposes of determining the economic feasibility of the Plan certain projects and expenditures have been estimated and included in the analysis. Agency revenue and the ability to fund reimbursement of eligible Project Costs is more specifically detailed in any owner participation agreement and in the annual budget adopted by the Agency Board. 305 Property Acquisition 305.1 Real Property Only as specifically authorized herein, the Agency may acquire, through the voluntary measures described below, but is not required to acquire, any real property located in the Project Area where it is determined that the property is needed for construction of public improvements, required to eliminate or mitigate the deteriorated or deteriorating conditions, to facilitate economic development, including acquisition of real property intended for disposition to qualified developers through a competitive process, and as otherwise allowed by law. The acquisition shall be by any means authorized by law, including, but not limited to, the Law, the Act, and the Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970, as amended, but shall not include the right to invoke eminent domain authority except as authorized herein. The Agency is authorized to acquire either the entire fee or any other interest in real property less than a fee, including structures and fixtures upon the real property, without acquiring the land upon which those structures and fixtures are located. The Agency intends to acquire any real property through voluntary or consensual gift, devise, exchange, or purchase. Such acquisition of property may be for the development of the public improvements identified in this Plan. Such properties may include properties owned by private parties or public entities. This Plan does not anticipate the Agency's widespread use of its resources for property acquisition, except for the construction of public improvements or to dispose of real property to a qualified developer to incent certain types of development as permitted by the Law and Act. IV In the event the Agency identifies certain property which should be acquired to develop certain public improvements intended to be constructed under the provisions of this Plan, the Agency shall coordinate such property acquisition with any other public entity (e.g., without limitation, the City, the state of Idaho, or any of its authorized agencies), including the assistance of the Agency of funds to acquire said property through a voluntary acquisition or the public entity's involving of its eminent domain authority as limited by Idaho Code Section 7-701A. The Agency is authorized by this Plan to acquire the properties for the uses identified in Attachment 3 hereto, including but not limited to property to be acquired for the extension or expansion of certain rights-of-way. The Agency is authorized by this Plan and Idaho Code §§ 50-2010 and 50-2018(12) to acquire the properties identified in Attachment 3 hereto for the purposes set forth in this Plan. The Agency has identified its intent to acquire and/or participate in the development of certain public improvements, including, but not limited to streets, streetscapes, water and sewer improvements, environmental remediation/site preparation, public parking, community facilities, including but not limited to parks, plazas and open spaces, pedestrianibicycle paths and trails, irrigation canal improvements, and to support belowground infrastructure improvements to support other public facilities, and improvements to the power and gas systems. Further, the Agency may acquire real property to facilitate mixed-use, housing, commercial, retail, and economic development projects by assembling and disposing of developable parcels. The Agency's property acquisition will result in remediating deteriorating conditions in the Project Area by facilitating the development of mixed-use, commercial, office, retail, multi -family residential, community uses, industrial projects and economic development projects to support vibrant activity centers. The public improvements are intended to be dedicated to the City and/or other appropriate public entity, as the case may be, upon completion. The Agency reserves the right to determine which properties identified, if any, should be acquired. The open land areas qualify for Agency acquisition as further set forth in Section 105 of this Plan. It is in the public interest and may be necessary, in order to eliminate the conditions requiring development and/or redevelopment and in order to execute this Plan, for the power of eminent domain to be employed by the Agency or by the City with the Agency acting in an advisory capacity' to acquire real property in the Project Area for the public improvements identified in this Plan, which cannot be acquired by gift, devise, exchange, purchase, or any other lawful method. Under the provisions of the Act, the urban renewal plan "shall be sufficiently complete to indicate such land acquisition, demolition, and removal of structures, redevelopment, improvements, and rehabilitation as may be proposed to be carried out in the urban renewal area." Idaho Code § 50-2018(12). The Agency has generally described those properties by use as set out in Attachment 3 for acquisition for the construction of public improvements. The Agency may also acquire property for the purpose of developing streetscape and public utilities. The Agency reserves the right to determine which properties, if any, should be acquired. ' House Bill 1044, adopted by the Idaho Legislature during the 2021 Legislative Session, limited the Agency's ability to exercise eminent domain. IM 305.2 Personal Property Generally, personal property shall not be acquired. However, where necessary in the execution of this Plan, the Agency is authorized to acquire personal property in the Project Area by any lawful means, for the purpose of developing the public improvements described in section 305.1. 306 Property Management During the time real property, if any, in the Project Area is owned by the Agency, such property shall be under the management and control of the Agency. Such property may be rented or leased by the Agency pending its disposition for development and/or redevelopment, and such rental or lease shall be pursuant to such policies as the Agency may adopt. 307 Relocation of Persons (Including Individuals and Families), Business Concerns, and Others Displaced by the Project If the Agency receives federal funds for real estate acquisition and relocation, the Agency shall comply with 24 C.F.R. Part 42, implementing the Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970, as amended. The Agency reserves the right to extend benefits for relocation to those not otherwise entitled to relocation benefits as a matter of state law under the Act or the Law. In the event the Agency's activities result in displacement, the Agency shall comply with, at a minimum, the standards set forth in the Law. The Agency shall also comply with all applicable state laws concerning relocation benefits and shall coordinate with the various local, state, or federal agencies concerning relocation assistance. 308 Demolition, Clearance, and Site Preparation The Agency is authorized (but not required) to demolish and clear buildings, structures, and other improvements from any real property in the Project Area as necessary to carry out the purposes of this Plan. Further, the Agency is authorized (but not required) to prepare, or cause to be prepared, as building sites any real property in the Project Area owned by the Agency including rock removal and site preparation. In connection therewith, the Agency may cause, provide for, or undertake the installation or construction of streets, utilities, pedestrian walkways, parking facilities, drainage facilities, and other public improvements necessary to carry out this Plan. 309 Property Disposition and Development 309.1 Disposition by the Agency For the purposes of this Plan, the Agency is authorized to sell, lease, lease/purchase, exchange, subdivide, transfer, assign, pledge, encumber by mortgage or deed of trust, or otherwise dispose of any interest in real property under the reuse provisions set forth in Idaho 911 law, including Idaho Code § 50-2011 and pursuant to any disposition policies adopted by the Agency. To the extent permitted by law, the Agency is authorized to dispose of real property by negotiated lease, sale, or transfer without public bidding. Real property acquired by the Agency may be conveyed by the Agency and, where beneficial to the Project Area, without charge to any public body as allowed by law. All real property acquired by the Agency in the Project Area shall be sold or leased to public or private persons or entities for development for the uses permitted in this Plan. 309.2 Disposition and Development Agreements To provide adequate safeguards to ensure that the provisions of this Plan will be carried out and to prevent the recurrence of deteriorating conditions, all real property sold, leased, or conveyed by the Agency is subject to the provisions of this Plan. The Agency shall reserve such powers and controls in the disposition and development documents as may be necessary to prevent transfer, retention, or use of property for speculative purposes and to ensure that development is carried out pursuant to this Plan. Leases, lease/purchases, deeds, contracts, agreements, and declarations of restrictions of the Agency may contain restrictions, covenants, covenants running with the land, rights of reverter, conditions subsequent, equitable servitudes, or any other provisions necessary to carry out this Plan. Where appropriate, as determined by the Agency, such documents, or portions thereof, shall be recorded in the office of the Recorder of Bannock County, Idaho. All property in the Project Area is hereby subject to the restriction that there shall be no discrimination or segregation based upon race, color, creed, religion, sex, age, national origin, or ancestry in the sale, lease, sublease, transfer, use, occupancy, disability/handicap, tenure, or enjoyment of property in the Project Area. All property sold, leased, conveyed, or subject to a participation agreement shall be expressly subject by appropriate documents to the restriction that all deeds, leases, or contracts for the sale, lease, sublease, or other transfer of land in the Project Area shall contain such nondiscrimination and nonsegregation clauses as required by law. As required by law or as determined in the Agency's discretion to be in the best interest of the Agency and the public, the following requirements and obligations shall be included in the disposition and development agreement. That the developers, their successors, and assigns agree: a. That a detailed scope and schedule for the proposed development shall be submitted to and agreed upon by the Agency. b. That the purchase or lease of the land and/or subterranean rights and/or air rights is for the purpose of redevelopment and not for speculation. 21 That the building of improvements will be commenced and completed as jointly scheduled and determined by the Agency and the developer(s). d. That the site and construction plans will be submitted to the Agency for review as to conformity with the provisions and purposes of this Plan. All new construction shall have a minimum estimated life of no less than twenty (20) years. f. That rehabilitation of any existing structure must assure that the structure is safe and sound in all physical respects and be refurbished and altered to bring the property to an upgraded marketable condition which will continue throughout an estimated useful life for a minimum of twenty (20) years. g. That the Agency receives adequate assurance acceptable to the Agency to ensure performance under the contract for sale. h. All such buildings or portions of the buildings which are to remain within the Project Area shall be reconstructed in conformity with all applicable codes and ordinances of the City. All disposition and development documents shall be governed by the provisions of Section 409 of this Plan. All other requirements and obligations as may be set forth in any participation policy established and/or amended by the Agency. The Agency also reserves the right to determine the extent of its participation based upon the achievements of the obiectives of this Plan. Obligations under any disposition and development agreement and deed covenants, except for covenants which run with the land beyond the termination date of this Plan, shall terminate no later than December 31, 2043. The Agency shall retain its discretion to negotiate an earlier date to accomplish all obligations under any disposition and development agreement. 309.3 Development by the Agency To the extent now or hereafter permitted by law, the Agency is authorized to pay for, develop, or construct public improvements within the Project Area for itself or for any public body or entity, which public improvements are or would be of benefit to the Project Area. Specifically, the Agency may pay for, install, or construct the public improvements authorized under Idaho Code §§ 50-2007, 50-2018(10) and (13), and 50-2903(9), (13), and (14), and as otherwise identified in Attachment 5, attached hereto and incorporated herein by reference, and may acquire or pay for the land required therefore. The Agency may enter into contracts, leases, and agreements with the City or other public body or private entity pursuant to this section, and the obligation of the Agency under 22 such contract, lease, or agreement shall constitute an indebtedness of the Agency as described in Idaho Code § 50-2909 which may be made payable out of the taxes levied in the Project Area and allocated to the Agency under Idaho Code § 50-2908(2)(b) and Section 500 of this Plan or out of any other available funds. 310 Development Plans All development plans (whether public or private) prepared, pursuant to an owner participation or disposition and development agreement, shall be submitted to the Agency Board for review and approval. All development in the Project Area must conform to those standards specified in Section 409 and all applicable City ordinances. 311 [Reserved] 312 [Reserved] 313 Participation with Others Under the Law, the Agency has the authority to lend or invest funds obtained from the federal government for the purposes of the Law if allowable under federal laws or regulations. The federal funds that may be available to the Agency are governed by regulations promulgated by the Department of Housing and Urban Development for the Community Development Block Grant Program ("CDBG"), the Economic Development Administration, the Small Business Administration, or other federal agencies. In order to enhance such grants, the Agency's use of revenue allocation funds is critical. Under those regulations the Agency may participate with the private sector in the development and financing of those private projects that will attain certain federal objectives. The Agency may, therefore, use the federal funds for the provision of assistance to private for-profit business, including, but not limited to, grants, loans, loan guarantees, interest supplements, technical assistance, and other forms to support, for any other activity necessary or appropriate to carry out an economic development project. As allowed by law, the Agency may also use funds from any other sources for any purpose set forth under the Law or Act. The Agency may enter into contracts, leases, and agreements with the City, or other public body or private entity, pursuant to this section, and the obligation of the Agency under such contract, lease, or agreement shall constitute an indebtedness of the Agency as described in Idaho Code § 50-2909 which may be made payable out of the taxes levied in the Project Area and allocated to the Agency under Idaho Code § 50-2908(2)(b) and Section 500 of this Plan or out of any other available funds. 23 314 Conforming Owners The Agency may, at the Agency's sole and absolute discretion, determine that certain real property within the Project Area presently meets the requirements of this Plan, and the owner of such property will be permitted to remain as a conforming owner without a participation agreement with the Agency, provided such owner continues to operate, use, and maintain the real property within the requirements of this Plan. 315 Arts and Cultural Funding The Agency may dedicate resources for the construction or purchase of facilities for the placement and maintenance of public art and art projects may be selected and provided by the Agency, separately from any construction costs of developers. Though not required, the Agency Board generally makes selections of the works of art with assistance from the City and may include review and approval of the City Council. When possible, any Agency arts funding will be used to leverage additional contributions from developers, other private sources, and public or quasi -public entities for purposes of including public art within the streetscape projects identified in this Plan. 400 USES PERMITTED IN THE PROJECT AREA 401 Designated Land Uses The Agency intends to rely upon the overall land use designations and zoning classifications of the City, as may be amended, and as depicted on Attachment 4 and as set forth in the City's Comprehensive Plan, including the future land use map and zoning classifications, as may be amended. For the most part, the Project Area includes a mix of uses including mixed- use residential, commercial, retail and office development, industrial development, as well as public and governmental uses. Provided, however, nothing herein within this Plan shall be deemed to be granting any particular right to zoning classification or use. 402 [Reserved] 403 Public Rights -of -Way The Project Area contains existing maintained public rights-of-way included within the boundaries, as shown on Attachment 1. Any new roadways, including new arterials, collectors and/or local roads to be engineered, designed, installed, and constructed in the Project Area, will be constructed in conjunction with any applicable policies and design standards of the City (and State and Federal standards, as the case may be) regarding dedicated rights-of-way. Additional public streets, alleys, and easements may be created in the Project Area as needed for proper development, and other potential roadways described in Attachment 5, or shown in Attachment 5.1. Additional improvements to existing streets, alleys and easements may be created, improved, or extended in the Project Area as needed for development. Existing dirt roadways, streets, easements, and irrigation or drainage laterals or ditches may be abandoned, closed, vacated, expanded, or modified as necessary for proper development of the Project Area, in accordance with any applicable policies and standards of the Idaho Transportation Department or the City regarding changes to dedicated rights-of-way, and appropriate irrigation or drainage districts regarding changes to laterals or ditches. Any development, maintenance, and future changes in the interior or exterior street layout shall be in accordance with the objectives of this Plan and the design standards of the City, Bannock County, or the Idaho Department of Transportation as may be applicable; and shall be effectuated in the manner prescribed by State and local law; and shall be guided by the following criteria: a. A balancing of the needs of proposed and potential new developments for adequate pedestrian and vehicular access, vehicular parking, and delivery loading docks with the similar needs of any existing developments permitted to remain. Such balancing shall take into consideration the rights of existing owners and tenants under the rules for owner and tenant participation adopted by the Agency for the Project and any participation agreements executed thereunder; b. The requirements imposed by such factors as topography, traffic safety, and aesthetics; and C. The potential need to serve not only the Project Area and new or existing developments, but to also serve areas outside the Project Area by providing convenient and efficient vehicular access and movement. The public rights-of-way may be used for vehicular and/or pedestrian and bicycle traffic, as well as for public improvements, public and private utilities, and activities typically found in public rights-of-way. 404 Interim Uses Pending the ultimate development of land by developers and participants, the Agency is authorized to use or permit the use of any land in the Project Area for interim uses that are not in conformity with the uses permitted in this Plan. However, any interim use must comply with applicable City Code. 405 Development in the Project Area Subject to the Plan All real property in the Project Area, under the provisions of either a disposition and development agreement or an owner participation agreement, is made subject to the controls and requirements of this Plan. No such real property shall be developed, rehabilitated, or otherwise changed after the date of the adoption of this Plan, except in conformance with the provisions of this Plan. 25 406 Construction Shall Comply with Applicable Federal, State, and Local Laws and Ordinances and Agency Development Standards All construction in the Project Area shall comply with all applicable state laws, the Chubbuck City Code, as may be amended from time to time, and any applicable City Council ordinances pending codification, including but not limited to, regulations concerning the type, size, density and height of buildings; open space, landscaping, light, air, and privacy; the undergrounding of utilities; limitation or prohibition of development that is incompatible with the surrounding area by reason of appearance, traffic, smoke, glare, noise, odor, or similar factors; parcel subdivision; off-street loading and off-street parking requirements. In addition to applicable codes, ordinances, or other requirements governing development in the Project Area, additional specific performance and development standards may be adopted by the Agency to control and direct redevelopment activities in the Project Area in the event of a disposition and development agreement or owner participation agreement. 407 [Reserved] 408 Nonconforming Uses The Agency may permit an existing use to remain in an existing building and site usage in good condition, which use does not conform to the provisions of this Plan, provided that such use is generally compatible with existing and proposed developments and uses in the Project Area. The owner of such a property must be willing to enter into an owner participation agreement and agree to the imposition of such reasonable restrictions as may be necessary to protect the development and use of the Project Area. The Agency may authorize additions, alterations, repairs, or other improvements in the Project Area for uses which do not conform to the provisions of this Plan where such improvements are within a portion of the Project Area where, in the determination of the Agency, such improvements would be compatible with surrounding Project uses and development. All nonconforming uses shall also comply with the City codes and ordinances. 409 Design Guidelines for Development under a Disposition and Development Agreement or Owner Participation Agreement Under a disposition and development agreement and an owner participation agreement, the design guidelines and land use elements of the Plan shall be achieved to the greatest extent feasible, though the Agency retains the authority to grant minor variations under this Plan and subject to a negotiated agreement between the Agency and the developer or property owner. Under those agreements, the architectural, landscape, and site plans shall be submitted to the Agency and approved in writing by the Agency. In such agreements, the Agency may impose additional design controls. Therefore, such plans shall give consideration to good design and 26 amenities to enhance the aesthetic quality of the Project Area. These additional design standards or controls will be implemented through the provisions of any owner participation agreement or disposition and development agreement. These controls are in addition to any standards and provisions of any applicable City building or zoning ordinances; provided, however, each and every development shall comply with all applicable City zoning and building ordinances; provided however, each and every development shall Comply with all applicable City zoning and building ordinances. 500 METHODS OF FINANCING THE PROJECT 501 General Description of the Proposed Financing Method The Agency is authorized to finance this Project with revenue allocation funds, financial assistance from the City (loans, grants, other financial assistance), state of Idaho, federal government or other public entities, interest income, developer advanced funds, donations, loans from private financial institutions (bonds, notes, line of credit), the lease or sale of Agency - owned property, public parking revenue, or any other available source, public or private, including assistance from any taxing district or any public entity. The Agency is also authorized to obtain advances, lines of credit, borrow funds, and create indebtedness in carrying out this Plan. The Agency may also consider an inter -fund transfer or grant from the City or an inter -fund transfer from other urban renewal project areas. The principal and interest on such advances, funds, and indebtedness may be paid from any funds available to the Agency. The City, as it is able, may also supply additional assistance through City loans and grants for various public improvements and facilities. The City or any other public agency, as properly budgeted, may expend money to assist the Agency in carrying out this Project. As allowed by law and subject to restrictions as are imposed by law, the Agency is authorized to issue notes or bonds from time to time, if it deems appropriate to do so, in order to finance all or any part of the Project. Neither the members of the Agency nor any persons executing the bonds are liable personally on the bonds by reason of their issuance. 502 Revenue Allocation Financing Provisions The Agency hereby adopts revenue allocation financing provisions as authorized by the Act, effective retroactively to January 1, 2025. These revenue allocation provisions shall apply to all taxing districts which are located in or overlap the Revenue Allocation Area shown and described on Attachments 1 and 2 to this Plan. The Agency shall take all actions necessary or convenient to implement these revenue allocation financing provisions. The Agency specifically finds that the equalized assessed valuation of property within the Revenue Allocation Area is likely to increase as a result of the initiation of the Project. The Agency, acting by one or more resolutions adopted by its Board, is hereby authorized to apply all or any portion of the revenues allocated to the Agency pursuant to the Act to pay as costs are incurred (pay-as-you-go) or to pledge all or any portion of such revenues to the repayment of any moneys borrowed, indebtedness incurred, or notes or bonds issued by the 27 Agency to finance or to refinance the Project Costs (as defined in Idaho Code § 50-2903(14)) of one or more urban renewal projects. The Agency may consider a note or line of credit issued by a bank or lending institution premised upon revenue allocation funds generated by a substantial private development contemplated by the Study, as defined in Section 502.1, which would allow the Agency to more quickly fund the public improvements contemplated by this Plan. Likewise, a developer/owner advanced funding of certain eligible public infrastructure improvements to be reimbursed pursuant to an owner participation agreement could achieve the same purpose. Upon enactment of a City Council ordinance finally adopting these revenue allocation financing provisions and defining the Revenue Allocation Area described herein as part of the Plan, there shall hereby be created a special fund of the Agency into which the County Treasurer shall deposit allocated revenues as provided in Idaho Code § 50-2908. The Agency shall use such funds solely in accordance with Idaho Code § 50-2909 and solely for the purpose of providing funds to pay the Project Costs, including any incidental costs, of such urban renewal projects as the Agency may determine by resolution or resolutions of its Board. A statement listing proposed public improvements and facilities, a schedule of improvements, an economic feasibility study, estimated project costs, fiscal impact upon other taxing districts, the location of proposed public infrastructure improvements, and methods of financing project costs required by Idaho Code § 50-2905 is included in this Plan and in Attachment 5 to this Plan. This information necessarily incorporates estimates and projections based on the Agency's and consultants' present knowledge and expectations. The Agency is hereby authorized to adjust the presently anticipated urban renewal projects and use of revenue allocation financing of the related Project Costs if the Board deems such adjustment necessary or convenient to effectuate the general objectives of the Plan in order to account for revenue inconsistencies, market adjustments, future priorities, developers/owners seeking Agency assistance pursuant to an owner participation agreement, and unknown future costs. Agency revenue and the ability to fund reimbursement of eligible Project Costs is more specifically detailed in the annual budget. Revenues will continue to be allocated to the Agency until termination of the revenue allocation area as set forth in Section 800. The Study incorporates estimates and projections based on the Agency's and its consultants' present knowledge and expectations concerning the length of time to complete the improvements and estimated future revenues. The activity may take longer depending on the significance and timeliness of development. Alternatively, the activity may be completed earlier if revenue allocation proceeds are greater or the Agency obtains additional funds from another source. The Agency may appropriate funds consisting of revenue allocation proceeds on an annual basis without the issuance of notes or bonds. The Agency may also obtain advances or loans from the City or Agency, or private entity and financial institutions in order to immediately commence construction of certain of the public improvements. Developer advanced funding of public improvements could also achieve the same purpose. The revenue allocation proceeds are hereby irrevocably pledged for the payment of the principal and interest on the advance of N: monies or making of loans or the incurring of any indebtedness such as bonds, notes, and other obligations (whether funded, refunded, assumed, or otherwise) by the Agency to finance or refinance the Project in whole or in part, including reimbursement to any owner/developer or public entity for the cost of eligible public improvements pursuant to an owner participation agreement. The Agency is authorized to make such pledges as to specific advances, loans, and indebtedness as appropriate in carrying out the Project. The Agency reserves the right to either pay for Project Costs from available revenue (pay-as-you-go basis) or borrow funds by incurring debt through notes or other obligations. Revenue allocation proceeds are deemed to be only a part of the proposed funding sources for the payment of public improvements and other project improvements. Additionally, project funding is proposed to be phased for the improvements, allowing various sources of funds to be accumulated for use. 502.1 Economic Feasibility Study Attachment 5 constitutes the Economic Feasibility Study for the Project Area (the "Study"), prepared by Perspective Planning & Consulting, LLC. The Study constitutes the financial analysis required by the Act and is based upon existing information from property owners, developers, the Agency, the City, and others. 502.2 Assumptions and Conditions/Economic Feasibility Statement The information contained in the Study assumes certain completed and projected actions. All debt is projected to be repaid no later than the duration period of the Plan. The total amount of indebtedness (and all other loans or indebtedness), developer reimbursement and the amount of revenue generated by revenue allocation are dependent upon the extent and timing of private development. Should all of the development take place as projected, the project indebtedness could be extinguished earlier, dependent upon other legal obligations. Should private development take longer to materialize, or should the private development be substantially less than projected, then the amount of revenue generated will be substantially reduced and debt may continue for its full term. The Plan and the Plan Attachments incorporate estimates and projections based on the Agency's and consultants' present knowledge and expectations. The Plan proposes certain public improvements as set forth in the Study, and as prioritized by year and tranches of funding, and in Section 301, which will facilitate the mixed-use, commercial, office, retail, multi -family residential, community uses, industrial projects and economic development opportunities in the Revenue Allocation Area. The assumptions set forth in the Study are based upon the best information available to the Agency and its consultants through public sources or discussions with property owners, developers, the City, the County, and others. The information has been analyzed by the Agency and its consultants in order to provide an analysis that meets the requirements set forth under the 3t Law and Act. At the point in time when the Agency may seek a loan from lenders or others, a more detailed and then -current financial pro forma will be presented to those lenders or underwriters for analysis to determine the borrowing capacity of the Agency. As set forth herein, the Agency reserves the right to fund the Project on a "pay-as-you-go" basis. The Agency Board will prioritize the activities set forth in this Plan and determine what funds are available and what activities can be funded. The Agency will establish those priorities through its mandated annual budgetary process. The list of public improvements, or activities within the Study are prioritized by way of importance to the Agency, with the priority projects being identified as the most improvement, by feasibility based on estimated revenues to be received, amounts funded, and by timing of the proposed funding. The projected timing of funding is primarily a function of the availability of financial resources and market conditions but is also strategic, considering the timing of anticipated or projected private development partnership opportunities and the ability of certain strategic activities to stimulate development at a given point in time within the duration of the Plan and Project Area. The assumptions concerning revenue allocation proceeds are based upon certain anticipated or projected new developments, assessed value increases, and assumed tax levy rates as more specifically set forth in the Study. In projecting new construction, the Study considered parcels identified as expected to develop over the life of the Project Area, communications with potential developers and City and County staff. Based on a review of past general inflationary value increases and historical levy rate information, the Study considered two revenue models. The first assumes total property valuation will inflate at a conservative rate of 2% per year for the duration of the Project Area and the levy rate is assumed to decrease 1% per year over the same period. Under this scenario, new taxable development is added to the tax rolls over time and is anticipated to generate approximately $51,586,378 in revenue over the life of the Project Area. The second model assumes total property valuation will inflate at a less conservate rate of 5% per year for the duration of the Project Area and the levy rate is assumed to decrease 1% per year over the same period. The 5% valuation increase, while higher than the conservative model, is still conservative based on historical growth data. Under this scenario, new taxable development is added to the tax rolls over time and is anticipated to generate approximately $71,759,624 in revenue over the life of the Project Area. What these models show is a revenue generation range of $51 million to $71 million to support the funding of the priority projects. The types of new construction expected in the Project Area are: mixed-use buildings; increased density/multi-family residential projects, including apartments and townhomes; commercial, retail and office projects; community facilities and public spaced; industrial projects; and other public facilities and improvements, including but not limited to streets, streetscapes, water and sewer improvements, environmental remediation/site preparation, public parking, parks, plazas, community event space, pedestrianibike paths and trails. The Project Area has potential for a significant increase in high-density residential, commercial, office and retail growth due to the location of the Project Area. However, without a method to construct the identified public improvements such as main water and sewer lines, lift stations, street 30 infrastructure, and pedestrian/bicycle amenities, development is unlikely to occur in much of the Project Area. The financial analysis set forth in the Study has taken into account and excluded levies that do not flow to the Agency consistent with Idaho Code § 50-2908. It is understood that application of certain exemptions, including the homeowner's exemption and Idaho Code § 63-602K, which provides for personal property tax exemption to businesses may have the effect of reducing the increment value, which in turn reduces revenue. 502.3 Ten Percent Limitation Under the Act, the base assessed valuation for all revenue allocation areas cannot exceed gross/net ten percent (10%) of the current assessed taxable value for the entire City. According to the Bannock County Assessor, the assessed taxable value for the City as of January 1, 2025, is $1,596,414,274 (does not include State assessed operating property). Therefore, the 10% limit is $159,641,427. The 2025 adjusted base assessed value of each of the existing revenue allocation areas, together with the 2025 assessed taxable value of the proposed Project Area, as of January 1, 2025, is as follows: Pine Ridge Mall District $27,112,636 Northside Crossing District $316,520 Harvest Springs District $421,674 Proposed Yellowstone Corridor $126,911,543 District Total: $154,162,373 The adjusted base values for the combined revenue allocation areas total $154,162,373, which is less than 10% of the City's 2025 taxable value. 502.4 Financial Limitation The Study identifies several capital improvement projects. Use of any particular funding source for any particular purpose is not assured or identified. Use of the funding source shall be conditioned on any limitations set forth in the Law, the Act, by contract, or by other federal regulation. If revenue allocation funds are unavailable, then the Agency will need to use a different funding source for that improvement. The amount of funds available to the Agency from revenue allocation financing is directly related to the assessed value of new improvements within the Revenue Allocation Area. Under the Act, the Agency is allowed the revenue allocation generated from inflationary increases and new development value. Increases have been assumed based upon the projected value of new development as that development occurs along with possible land reassessment based on a construction start. 31 The Study, with the various estimates and projections, constitutes an economic feasibility study. Costs and revenues are analyzed, and the analysis shows the need for public capital funds during the project. Multiple financing sources are contemplated in the Study, including proposed revenue allocation notes, annual revenue allocations, developer contributions, city contributions, interfund loan, and other financing sources as permitted by law. This Study identifies the kind, number, and location of all proposed public works or improvements, a detailed list of estimated project costs prioritized by year and funding tranche, a description of the methods of financing illustrating project costs, and the time when related costs or monetary obligations are to be incurred.2 Based on these funding sources, the conclusion is that the Project is feasible. The Study has further identified and described a list of "unfunded" improvements, i.e. non -prioritized projects on the project list. The Agency reserves the discretion and flexibility to use revenue allocation proceeds in excess of the amounts projected in the Study for the purpose of funding the additional identified projects and improvements. The projections in the Study are based on reasonable assumptions and existing market conditions. However, should the Project Area result in greater than anticipated revenues, the Agency specifically reserves the ability to fund the additional activity and projects identified in the Plan. Further, the Agency reserves the discretion and flexibility to use other sources of funds unrelated to revenue allocation to assist in the funding of the improvements and activities identified, including but not limited to owner participation agreements and disposition and development agreements. The Agency may also re - prioritize projects in the project list and the prioritized project list pursuant to market conditions, project timing, funding availability, etc., as more specifically detailed in the annual budget. The proposed timing for the public improvements may have to be adjusted depending upon the availability of some of the funds and the Agency's ability to finance any portion of the Project. Any adjustment to Project timing or funding is technical or ministerial in nature and shall not be considered a modification of the Plan pursuant to Idaho Code § 50-2903A. The Study lists those public improvements the Agency intends to construct or fund through the term of the Plan. The costs of improvements are estimates only as it is impossible to know with any certainty what the costs of improvements and projects will be in future years. There is general recognition that construction costs fluctuate and are impacted by future unknowns, such as, the cost of materials and laborers. Final costs will be determined by way of construction contract public bidding or by an agreement between the developer/owner, and/or public entity, and Agency. The listing of public improvements and projects does not commit the Agency, City, or other public entity, to any particular level of funding; rather, identification of the activity in the Plan allows the Agency to negotiate the terms of any reimbursement with the developer and/or the public entities. This Plan does not financially bind or obligate the Agency, City, or other public entity to any project or property acquisition; rather, for purposes of determining the economic feasibility of the Plan certain projects and expenditures have been estimated and included in the analysis. The City has not committed to fund any public infrastructure improvements within the Project Area. Such decisions concerning capital improvement projects and/or other expenditures are made by the City annually pursuant to its budget and appropriation process. Agency revenue and the ability to fund reimbursement of eligible Project Costs is more specifically detailed in any participation agreement and in the z See Idaho Code § 50-2905. 32 annual budget adopted by the Agency Board. The proposed location and siting of the proposed public infrastructure and other improvement projects in the Project Area are generally described in the Study and this Plan recognizing that the specific location of the projects will depend on the type and timing of development. The specific location of the improvements or the change in the location of the improvements identified in Attachment 5 or this Plan is technical and/or ministerial and does not constitute a modification to the Plan. The Agency reserves its discretion and flexibility in deciding which improvements are more critical for development or redevelopment, and the Agency intends to coordinate its public improvements with associated development by private developers/owners. Where applicable, the Agency also intends to coordinate its participation in the public improvements with the receipt of certain grants or loans which may require the Agency's participation in some combination with the grant and loan funding. Generally, the Agency expects to develop those improvements identified in the Study first, in conjunction with private development within the Project Area generating the increment as identified in the Study. The Plan has shown that the equalized valuation of the Revenue Allocation Area as defined in the Plan is likely to increase as a result of the initiation and completion of urban renewal projects pursuant to the Plan. 502.5 [Reserved] 502.6 Participation with Local Improvement Districts and/or Business Improvement Districts Under the Idaho Local Improvement District ("LID") Code, Chapter 17, Title 50, Idaho Code, the City has the authority to establish local improvement districts for various public facilities, including, but not limited to, streets, curbs, gutters, sidewalks, storm drains, landscaping, and other like facilities. To the extent allowed by the Law and the Act, the Agency reserves the authority, but not the obligation, to participate in the funding of local improvement district facilities. This participation may include either direct funding to reduce the overall cost of the LID or to participate as an assessed entity to finance the LID project. Similarly, to the extent allowed by the Law and the Act, the Agency reserves the authority, but not the obligation, to participate in the funding of the purposes specified under the Business Improvement Districts, Chapter 26, Title 50, Idaho Code. 502.7 Issuance of Debt and Debt Limitation Any debt incurred by the Agency as allowed by the Law and Act shall be secured by revenue allocation funds as allowed by the Act. All such debt shall be repaid within the duration of this Plan, except as may be authorized by law. 33 502.8 Impact on Other Taxing Districts and Levy Rate An estimate of the overall impact of the revenue allocation project on each taxing district is shown in the Study through the new development projections set forth in the Study. The assessed value for each property in a revenue allocation area consists of a base value and an increment value. The base value is the assessed value as of January 1 of the year in which a revenue allocation area is approved by a municipality, with periodic adjustments allowed by Idaho law. The increment value is the difference between the adjusted base assessed value and current assessed taxable value in any given year while the property is in a revenue allocation area. Under Idaho Code § 63-802, taxing entities are constrained in establishing levy rates by the amount each budget of each taxing district can increase on an annual basis. Taxing entities submit proposed budgets to the County Board of Commissioners, which budgets are required to comply with the limitations set forth in Idaho Code § 63-802. Therefore, the impact of revenue allocation on the taxing entities is more of a product of the imposition of Idaho Code § 63-802, then the effect of urban renewal. The County Board of Commissioners calculates the levy rate required to produce the proposed budget amount for each taxing entity using the assessed values which are subject to each taxing entity's levy rate. Assessed values in urban renewal districts which are subject to revenue allocation (incremental values) are not included in this calculation. The combined levy rate for the taxing entities is applied to the incremental property values in a revenue allocation area to determine the amount of property tax revenue which is allocated to an urban renewal agency. The property taxes generated by the base values in the urban renewal districts and by properties outside revenue allocation areas are distributed to the other taxing entities. Properties in revenue allocation areas are subject to the same levy rate as they would be outside a revenue allocation area. The difference is how the revenue is distributed. If the overall levy rate is less than assumed, the Agency will receive fewer funds from revenue allocation. In addition, without the Revenue Allocation Area and its ability to pay for public improvements and public facilities, fewer substantial improvements within the Revenue Allocation Area would be expected during the term of the Plan; hence, there would be lower increases in assessed valuation to be used by the other taxing entities. The Study's analysis is premised upon the fact the proposed development and/or redevelopment would not occur but for the ability to use revenue allocation funds to fund certain significant public infrastructure improvements. One result of new construction occurring outside the revenue allocation area (Idaho Code §§ 63-802 and 63-301A) is the likely reduction of the levy rate as assessed values increase for property within each taxing entity's jurisdiction. From and after December 31, 2006, Idaho Code § 63-301A prohibits taxing entities from including, as part of the new construction roll, the increased value related to new construction within a revenue allocation area until the revenue allocation authority is terminated. Any new construction within the Project Area is not available in the short term for inclusion by the taxing entities to increase their budget capacity. Upon termination of this Plan or deannexation of area, the taxing entities will be able to include a percentage of the increment value on new construction roll for purposes of setting the following 34 year's budget and revenue from such value is not limited to the eight percent cap set forth in Idaho Code § 63-802. As the 2025 certified levy rates are not determined until late September or October 2025, the 2024 certified levy rates have been used as a base to support the assumptions in the Study for purposes of the analysis. 3 Those taxing districts and levy rates are as follows: Taxing Districts Lever: Bannock County .003109503 Bannock County Abatement District .000019959 Bannock County Ambulance 0 Bannock County Road & Bridge .000266091 City of Chubbuck .006224284 Pocatello School District #25 0 Portneuf Free Library .000383328 Total4: 0.010003165 The Study has made certain assumptions concerning the levy rate. For purposes of the Study, the estimated levy rate is projected to decrease 1% a year in both revenue projection models. This is consistent with current historical trends. If the overall levy rate is less than projected, or if expected development fails to occur as estimated, the Agency shall receive fewer funds from revenue allocation. Pursuant to Idaho Code § 50-2908, the Agency is not entitled to revenue allocation proceeds from certain levy increases which are allowed by either specific statutory authorization or approved by an election of the qualified electors of the particular taxing district. Therefore, for any levy election, the Agency will not receive revenue allocation funds which would have been generated by imposing that levy on the assessed valuation within the Project Area. The Study has taken this statute into account. This is also the reason there is no impact to Pocatello School District #25. House Bill 436, effective retroactive to January 1, 2025, amends Idaho Code § 50-2906 providing that fire protection and ambulance service districts are not subject to the financing provisions of a revenue allocation area modified after July 1, 2025, unless the fire protection district and/or the ambulance service district each consent to be included pursuant to the process outlined in Idaho Code § 50-2906(4). This amendment will apply to this Plan. Should the ambulance service district fail to consent to be included, the levy from the district will not generate revenue for this Project Area. This is not projected to have a significant impact on the overall revenue projection in the Project Area; however, to be conservative, the ambulance service district levy is not included on the revenue projection analysis set forth in Attachment 5. s Due to the timing of the taxing districts' budget and levy setting process, certification of the 2025 levy rates did not occur until after this Plan had been prepared and was in the process of being considered by the Agency. In order to provide a basis to analyze the impact on the taxing entities, the 2024 levy rates are used. Use of the 2024 levy rates provides a more accurate base than estimating the 2025 levy rates. a Net of voter approved bonds and levies. 35 503 Phasing and Other Fund Sources The Agency anticipates funding only the prioritized portion of the total cost of the identified public improvements shown in the Study. The Agency anticipates Other sources of funds for the additional projects on the project list, which may include City, and other public entity parties, owner/developer participation, and financing. It is important to note this Plan does not financially bind or obligate the City, Agency and/or any other public entity to any project or property acquisition. The City and/or other local government entities continue to be subject to statutory and constitutional budget and levy limitations. The City, Agency, and/or other public entity participation in any project shall be determined by the amount of revenue allocation funds generated and pursuant to the annual budgeting process. 504 Lease Revenue and Bonds Under the Law (Idaho Code § 50-2012), the Agency is authorized to issue revenue bonds to finance certain public improvements identified in the Plan. Under that type of financing, the public entity would pay the Agency a lease payment annually which provides certain funds to the Agency to retire the bond debt. Another variation of this type of financing is sometimes referred to as conduit financing, which provides a mechanism where the Agency uses its bonding authority for the Project, with the end user making payments to the Agency to retire the bond debt. These sources of revenues are not related to revenue allocation funds and are not particularly noted in the Study, because of the "pass through" aspects of the financing. Under the Act, the economic feasibility study focuses on the revenue allocation aspects of the Agency's financial model. These financing models typically are for a longer period of time than the 20 -year period set forth in the Act. However, these financing models do not involve revenue allocation funds, but rather funds from the end users which provide a funding source for the Agency to continue to own and operate the facility beyond the term of the Plan as allowed by Idaho Code § 50-2905(8) as those resources involve funds not related to revenue allocation funds. 505 Membership Dues and Support of Community Economic Development The Act is premised upon economic development being a valid public purpose. To the extent allowed by the Law and the Act, the Agency reserves the authority to use revenue allocation funds to contract with non-profit and charitable organizations established for the purpose of supporting economic development and job creation. Additionally, the Agency reserves the authority to expend revenue allocation funds to join, participate and support non- profit organizations established to support Agency best practices and administration. The line item of Administration within the Study shall be deemed to include expenditures for the purposes described in this section as may be deemed appropriate during the annual budgetary process. 600 ACTIONS BY THE CITY AND OTHER PUBLIC ENTITIES The City shall aid and cooperate with the Agency in carrying out this Plan in support of the Comprehensive Plan and shall take all actions necessary to ensure the continued fulfillment 36 of the purposes of this Plan and to prevent the recurrence or spread in the area of conditions causing deterioration. Actions by the City may include, but not be limited to, the following: a. Institution and completion of proceedings necessary for changes and improvements in private and publicly owned public utilities within or affecting the Project Area. b. Revision of zoning (if necessary) within the Project Area to permit the land uses and development authorized by this Plan. C. Imposition, wherever necessary, of appropriate controls within the limits of this Plan upon parcels in the Project Area to ensure their proper development and use. d. Provision for administrative enforcement of this Plan by the City after development. The City and the Agency may develop and provide for enforcement of a program for continued maintenance by owners of all real property, both public and private, within the Project Area throughout the duration of this Plan. e. Building code enforcement. f. Performance of the above actions and of all other functions and services relating to public peace, health, safety, and physical development normally rendered in accordance with a schedule which will permit the development and/or redevelopment of the Project Area to be commenced and carried to completion without unnecessary delays. g. The undertaking and completing of any other proceedings necessary to carry out the Project. h. Administration of Community Development Block Grant funds that may be made available for this Project. Appropriate agreements with the Agency for administration, supporting services, funding sources, and the like. j. Assist with coordinating and implementing the public improvements in the Project Area identified in the Study. k. Institution and completion of proceedings necessary for the establishment of a local improvement district under Chapter 17, Title 50, Idaho Code, or a business improvement district. Joint funding of certain public improvements, subject to public entity annual appropriation, including but not limited to those identified in this Plan and Attachment 5 to the Plan. 37 in. Use of public entity labor, services, and materials for construction of the public improvements listed in this Plan. n. Transfer of real property or improvements upon Agency request. The foregoing actions, if taken by the City, do not constitute any commitment for financial outlays by the City. In addition to the above, other public entities shall aid and cooperate with the Agency in carrying out this Plan and shall take all actions necessary to ensure the continued fulfillment of the purposes of this Plan. 601 Maintenance of Public Improvements The Agency has not identified any commitment or obligation for long-term maintenance of the public improvements identified. The Agency will need to address this issue with the appropriate entity, public or private, who has benefited from or is involved in the ongoing preservation of the public improvement. The Agency expects to dedicate public improvements to the City. 700 ENFORCEMENT The administration and enforcement of this Plan, including the preparation and execution of any documents implementing this Plan, shall be performed by the Agency and/or the City. 800 DURATION OF THIS PLAN, TERMINATION, AND ASSET REVIEW Except for the nondiscrimination and nonsegregation provisions which shall run in perpetuity, the provisions of this Plan shall be effective, and the provisions of other documents formulated pursuant to this Plan, shall be effective for twenty (20) years from the effective date of the Plan subject to modifications and/or extensions set forth in Idaho Code §§ 50-2904 and 50-2905(7). The revenue allocation authority will expire on December 31, 2045, except for any revenue allocation proceeds received in calendar year 2046, as contemplated by Idaho Code § 50-2905(7). The Agency may use proceeds in 2046 to complete the projects set forth herein. As stated in the Plan, any owner participation agreement or disposition and development agreement obligations will cease as of December 31, 2045. Pursuant to Idaho Code § 50-2914 the Agency may terminate an urban renewal plan containing a revenue allocation financing provision in accordance with the provisions of Idaho Code §§ 50-2903(5) and 50-2909(4). Idaho Code § 50-2903(5) provides "[i]n the event that the [A]gency determines that current tax year revenues are sufficient to cover all estimated expenses for the current year and all future years", the Agency shall adopt a resolution of intent to terminate the revenue allocation area by September 1 in the year of termination. In order to provide sufficient notice of termination to the affected taxing districts to allow them to benefit from the increased budget capacity, the Agency will use its best efforts to provide notice of its intent to terminate this Plan and its revenue allocation authority by May 1, 2046, or if the Agency determines an earlier terminate date, then by May 1 of the early termination year: a. When the Revenue Allocation Area plan budget estimates that all financial obligations have been provided for, the principal of and interest on such moneys, indebtedness, and bonds have been paid in full or when deposits in the special fund or funds created under this chapter are sufficient to pay such principal and interest as they come due, and to fund reserves, if any, or any other obligations of the Agency funded through revenue allocation proceeds shall be satisfied and the Agency has determined no additional project costs need be funded through revenue allocation financing, the allocation of revenues under Idaho Code § 50- 2908 shall thereupon cease; any moneys in such fund or funds in excess of the amount necessary to pay such principal and interest shall be distributed to the affected taxing districts in which the Revenue Allocation Area is located by the County Clerk in the same manner and proportion as the most recent distribution to the affected taxing districts of the taxes on the taxable property located within the Revenue Allocation Area; and the powers granted to the urban renewal agency under Idaho Code § 50-2909 shall thereupon terminate. b. In determining the termination date, the Plan shall recognize that the Agency shall receive allocation of revenues in the calendar year following the last year of the revenue allocation provision described in the Plan. C. For the fiscal year that immediately predates the termination date, the Agency shall adopt and publish a budget specifically for the projected revenues and expenses of the Plan and make a determination as to whether the Revenue Allocation Area can be terminated before January 1 of the termination year pursuant to the terms of Idaho Code § 50-2909(4). In the event that the Agency determines that current tax year revenues are sufficient to cover all estimated expenses for the current year and all future years, by May 1, but in any event, no later than September 1, the Agency shall make its best efforts to adopt a resolution advising and notifying the local governing body, the county auditor, and the State Tax Commission, recommending the adoption of an ordinance for termination of the Revenue Allocation Area by December 31 of the current year, and declaring a surplus to be distributed as described in Idaho Code § 50-2909 should a surplus be determined to exist. The Agency shall cause the ordinance to be filed with the office of the county recorder and the Idaho State Tax Commission as provided in Idaho Code § 63-215. Upon termination of the revenue allocation authority of the Plan to the extent the Agency owns or possesses any assets, subject to the following paragraph, the Agency intends to dispose of any remaining assets by granting or conveying or dedicating such assets to the City, unless based on the nature of the asset, disposition to another public entity is more appropriate. As allowed by Idaho Code § 50-2905(8), the Agency may retain assets or revenues generated from such assets as long as the Agency shall have resources other than revenue at allocation funds to operate and manage such assets. Similarly, facilities which provide a lease income stream to the Agency for full retirement of the facility debt will allow the Agency to meet debt services obligations and provide for the continued operation and management of the facility. For those assets which do not provide such resources or revenues, the Agency will likely convey such assets to the City, depending on the nature of the asset. 900 PROCEDURE FOR AMENDMENT OR MODIFICATION Modification of this Plan by City Council ordinance results in a reset of the base value for the year immediately following the year in which the modification occurred to include the current year's equalized assessed value of the taxable property in the revenue allocation area, effectively eliminating the Agency's revenue stream as more fully set forth in Idaho Code § 50- 2903A subject to certain limited exceptions contained therein, including the exception to allow an amendment to support growth of an existing commercial or industrial project. I.C. § 50- 2903A(1)(a)(iv). As more specifically identified above, the Agency's projections are based on estimated values, estimated levy rates, estimated future development, and estimated costs of future construction/improvements. Annual adjustments, as more specifically set forth in the Agency's annual budget, will be required to account for more/less estimated revenue and prioritization of projects. Any adjustments for these stated purposes are technical and ministerial and are not deemed a modification under Idaho Code § 50-2903A(1)(a)(i). 1000 SEVERABILITY If any one or more of the provisions contained in this Plan to be performed on the part of the Agency shall be declared by any court of competent jurisdiction to be contrary to law, then such provision or provisions shall be null and void and shall be deemed separable from the remaining provisions in this Plan and shall in no way affect the validity of the other provisions of this Plan. 1100 ANNUAL REPORT AND OTHER REPORTING REQUIREMENTS Under the Law, the Agency is required to file with the City and the State Controller's office, on or before March 31 of each year, a report of the Agency's activities for the preceding calendar year, which report shall include certain financial information required under Idaho Code § 67-1076. This annual report shall be considered at a public meeting to report these findings and take comments from the public. Additionally, the Agency must comply with certain other reporting requirements as set forth in the local government registry portal, Idaho Code §§ 67-1076 and 50-2006(5)(c), State of Idaho Controller's Office, and Idaho Code § 50-2913, the tax commission plan repository, and Idaho Code § 50-2903A, the tax commission's plan modification annual attestation. Failure to report the information requested under any of these statutes results in significant penalties, including loss of increment revenue, and the imposition of other compliance measures by the Bannock County Board of County Commissioners. 4200 APPENDICES, ATTACHMENTS, EXHIBITS, TABLES All attachments and tables referenced in this Plan are attached and incorporated herein by their reference. All other documents referenced in this Plan but not attached are incorporated by their reference as if set forth fully. 41 Attachment I Boundary Map of Urban Renewal Project Area and Revenue Allocation Area [To be Inserted Upon Completion] CHUBBUCK URBAN RENEWAL EXHIBITSECTIONS 3 AND 10 OF TOWNSHIP 6 SOUTH, RANGE 34 EAST OF THE BOISE MERIDIANCITY OF CHUBBUCK, BANNOCK COUNTY, IDAHO15REVIEWED BY:DRAWN BY:JOB NO:CTPAM25-066DATE: October 3, 2025CHUBBUCK, IDCHUBBUCK URBAN RENEWAL EXHIBITSHEETSOFCONNECTENGINEERINGCIVIL ENGINEERING / SURVEYING / CONSTRUCTIONIDAHO FALLS / CHUBBUCK208-881-0081LEGENDBOUNDARYCURRENT DEEDS / PLAT LINESPLSS LINESMATCH LINEURBAN RENEWAL DISTRICTKNUDSEN BOULEVARDHAWTHORNE ROADZEBE AVENUEKNUDSEN BOULEVARDBURNSIDE AVENUEYELLOWSTONE AVENUEI-86I-86YELLOWSTONE AVENUECHUBBUCK ROADCHUBBUCK ROADEVANS LANECENTRAL WAYBURNSIDE AVENUEUPRRUPRRUPRRLINDEN AVENUELINDEN AVENUEHIGHWAY AVENUESTUART AVENUESTUART AVENUEHENRY AVENUEJAMES AVENUEMESQUITE DRIVELUCKY AVENUEADAM STREETLISA STREETPARK LAWN DRIVEPARK LAWN DRIVEDIAMOND CIRCLEWARD DRIVEVALENTY ROADLAUREL LANERAINBOW LANEBROOK LANELAUREL LANEBLUEGILL LANECLOVER DELL ROADCIRCLE INN STREETAFTON PLACEAFTON PLACEHEIDI COURT MISTI AVENUEHAWTHORNE ROADHAWTHORNE ROADCHUBBUCK ROADLAVENDER STREETROSE STREETSUNFLOWER AVENUETULIP STREETROSE STREETCARNATION STREETHOLLYHOCK STREETSTUART AVENUEBRISCOE ROADBELVA LANEYELLOWSTONE AVENUESTUART AVENUESIPHON ROADNEW DAY PARKWAYSIPHON ROADOAKTRAILS LANEJOSH WAYCALEN LANEBRISCOE ROADPARCEL 1PARCEL 2PARCEL 3PARCEL 4PARCEL 6PARCEL 7PARCEL 8PARCEL 10PARCEL 5PARCEL 9PARCEL 11NORTHWESTQUARTERSECTION 03NORTHEASTQUARTERSECTION 03SOUTHEASTQUARTERSECTION 03SOUTHEASTQUARTERSECTION 03NORTHWESTQUARTERSECTION 10NORTHEASTQUARTERSECTION 10 25REVIEWED BY:DRAWN BY:JOB NO:CTPAM25-066DATE: October 3, 2025CHUBBUCK, IDCHUBBUCK URBAN RENEWAL EXHIBITSHEETSOFCONNECTENGINEERINGCIVIL ENGINEERING / SURVEYING / CONSTRUCTIONIDAHO FALLS / CHUBBUCK208-881-0081MATCH LINESEE SHEET 2NEW DAY PARKWAYHIGHWAY AVENUEPARCEL 1PARCEL 3PARCEL 2PARCEL 4SIPHON ROADSTUART AVENUE DIAMOND CIRCLELAUREL LANEUPRR US - 91 YELLOW STONE HIGHWAY US - 91 YELLOW STONE HIGHWAY US - 91 YELLOW STONE HIGHWAY UPRRUPRR DIAMOND CIRCLELAUREL LANEPARK LAWN DRIVESTUART AVENUESTUART AVENUE BRISCOE ROADLEGENDBOUNDARYCURRENT DEEDS / PLAT LINESPLSS LINESMATCH LINEURBAN RENEWAL DISTRICTLISA STREETLUCKY AVENUE ADAMS STREETMESQUITE DRIVE PARK LAWN DRIVE BRISCOE ROADHENRY AVENUEJAMES AVENUELILLY STREETSTUART AVENUEFERN STREET NORTHWESTQUARTERSECTION 03NORTHEASTQUARTERSECTION 03SOUTHEASTQUARTERSECTION 03SOUTHEASTQUARTERSECTION 03CHUBBUCK URBAN RENEWAL EXHIBITSECTIONS 3 AND 10 OF TOWNSHIP 6 SOUTH, RANGE 34 EAST OF THE BOISE MERIDIANCITY OF CHUBBUCK, BANNOCK COUNTY, IDAHO 35REVIEWED BY:DRAWN BY:JOB NO:CTPAM25-066DATE: October 3, 2025CHUBBUCK, IDCHUBBUCK URBAN RENEWAL EXHIBITSHEETSOFCONNECTENGINEERINGCIVIL ENGINEERING / SURVEYING / CONSTRUCTIONIDAHO FALLS / CHUBBUCK208-881-0081SEE SHEET 1MATCH LINEPARCEL 5PARCEL 9 PARCEL 6PARCEL 7PARCEL 8PARCEL 10PARCEL 11LEGENDBOUNDARYCURRENT DEEDS / PLAT LINESPLSS LINESMATCH LINEURBAN RENEWAL DISTRICTCHUBBUCK ROADUS - 91 YELLOW STONE HIGHWAY CHUBBUCK ROADKNUDSEN BOULEVARDI - 86I - 86KNUDSEN BOULEVARDE LINDEN AVENUEUS - 91 YELLOW STONE HIGHWAY US - 91 YELLOW STONE HIGHWAY UPRRUPRR UPRR HAWTHORNE ROAD HAWTHORNE ROADZEBE AVENUE AFTON AVENUE EVANS LANEBURLEY DRIVE VALENTY ROADBURNSIDE AVENUECENTRAL WAY CLOVER DELL ROAD SOUTHEASTQUARTERSECTION 03SOUTHEASTQUARTERSECTION 03NORTHWESTQUARTERSECTION 10NORTHEASTQUARTERSECTION 10CHUBBUCK URBAN RENEWAL EXHIBITSECTIONS 3 AND 10 OF TOWNSHIP 6 SOUTH, RANGE 34 EAST OF THE BOISE MERIDIANCITY OF CHUBBUCK, BANNOCK COUNTY, IDAHO 45REVIEWED BY:DRAWN BY:JOB NO:CTPAM25-066DATE: October 3, 2025CHUBBUCK, IDCHUBBUCK URBAN RENEWAL EXHIBITSHEETSOFCONNECTENGINEERINGCIVIL ENGINEERING / SURVEYING / CONSTRUCTIONIDAHO FALLS / CHUBBUCK208-881-0081KNUDSEN BOULEVARDHAWTHORNE ROADZEBE AVENUEKNUDSEN BOULEVARDBURNSIDE AVENUEYELLOWSTONE AVENUEI-86I-86YELLOWSTONE AVENUECHUBBUCK ROADCHUBBUCK ROADEVANS LANECENTRAL WAYBURNSIDE AVENUEUPRRUPRRUPRRLINDEN AVENUELINDEN AVENUEHIGHWAY AVENUESTUART AVENUESTUART AVENUEHENRY AVENUEJAMES AVENUEMESQUITE DRIVELUCKY AVENUEADAM STREETLISA STREETPARK LAWN DRIVEPARK LAWN DRIVEDIAMOND CIRCLEWARD DRIVEVALENTY ROADLAUREL LANERAINBOW LANEBROOK LANELAUREL LANEBLUEGILL LANECLOVER DELL ROADCIRCLE INN STREETAFTON PLACEAFTON PLACEHEIDI COURT MISTI AVENUEHAWTHORNE ROADHAWTHORNE ROADCHUBBUCK ROADLAVENDER STREETROSE STREETSUNFLOWER AVENUETULIP STREETROSE STREETCARNATION STREETHOLLYHOCK STREETSTUART AVENUEBRISCOE ROADBELVA LANEYELLOWSTONE AVENUESTUART AVENUESIPHON ROADNEW DAY PARKWAYSIPHON ROADOAKTRAILS LANEJOSH WAYCALEN LANEBRISCOE ROADLEGENDBOUNDARYCURRENT DEEDS / PLAT LINESPLSS LINESHIGHWAY CORRIDOR (HC)PLANNED UNIT DEVELOPMENT (PUD)DENSE RESIDENTIAL (R-4)INDUSTRIAL (I)AGRICULTURE (A)LIMITED RESIDENTIAL (R-2)LIMITED COMMERCIAL (C-1)VILLAGE (V)GENERAL COMMERCIAL (C-2)PARCEL 1PARCEL 2PARCEL 3PARCEL 4PARCEL 6PARCEL 7PARCEL 8PARCEL 10PARCEL 5PARCEL 9PARCEL 11NORTHWESTQUARTERSECTION 03NORTHEASTQUARTERSECTION 03SOUTHEASTQUARTERSECTION 03SOUTHEASTQUARTERSECTION 03NORTHWESTQUARTERSECTION 10NORTHEASTQUARTERSECTION 10CHUBBUCK URBAN RENEWAL EXHIBITCURRENT ZONINGSECTIONS 3 AND 10 OF TOWNSHIP 6 SOUTH, RANGE 34 EAST OF THE BOISE MERIDIANCITY OF CHUBBUCK, BANNOCK COUNTY, IDAHO 55REVIEWED BY:DRAWN BY:JOB NO:CTPAM25-066DATE: October 3, 2025CHUBBUCK, IDCHUBBUCK URBAN RENEWAL EXHIBITSHEETSOFCONNECTENGINEERINGCIVIL ENGINEERING / SURVEYING / CONSTRUCTIONIDAHO FALLS / CHUBBUCK208-881-0081LEGENDBOUNDARYCURRENT DEEDS / PLAT LINESPLSS LINEMIXED USEMEDIUM DENSITYCOMMERCIALKNUDSEN BOULEVARDHAWTHORNE ROADZEBE AVENUEKNUDSEN BOULEVARDBURNSIDE AVENUEYELLOWSTONE AVENUEI-86I-86YELLOWSTONE AVENUECHUBBUCK ROADCHUBBUCK ROADEVANS LANECENTRAL WAYBURNSIDE AVENUEUPRRUPRRUPRRLINDEN AVENUELINDEN AVENUEHIGHWAY AVENUESTUART AVENUESTUART AVENUEHENRY AVENUEJAMES AVENUEMESQUITE DRIVELUCKY AVENUEADAM STREETLISA STREETPARK LAWN DRIVEPARK LAWN DRIVEDIAMOND CIRCLEWARD DRIVEVALENTY ROADLAUREL LANERAINBOW LANEBROOK LANELAUREL LANEBLUEGILL LANECLOVER DELL ROADCIRCLE INN STREETAFTON PLACEAFTON PLACEHEIDI COURT MISTI AVENUEHAWTHORNE ROADHAWTHORNE ROADCHUBBUCK ROADLAVENDER STREETROSE STREETSUNFLOWER AVENUETULIP STREETROSE STREETCARNATION STREETHOLLYHOCK STREETSTUART AVENUEBRISCOE ROADBELVA LANEYELLOWSTONE AVENUESTUART AVENUESIPHON ROADNEW DAY PARKWAYSIPHON ROADOAKTRAILS LANEJOSH WAYCALEN LANEBRISCOE ROADVILLAGEHIGHWAYHIGHWAY DENSITYEMPLOYMENTPARCEL 1PARCEL 2PARCEL 3PARCEL 4PARCEL 6PARCEL 7PARCEL 8PARCEL 10PARCEL 5PARCEL 9PARCEL 11NORTHWESTQUARTERSECTION 03NORTHEASTQUARTERSECTION 03SOUTHEASTQUARTERSECTION 03SOUTHEASTQUARTERSECTION 03NORTHWESTQUARTERSECTION 10NORTHEASTQUARTERSECTION 10CHUBBUCK URBAN RENEWAL EXHIBITFUTURE PLANNINGSECTIONS 3 AND 10 OF TOWNSHIP 6 SOUTH, RANGE 34 EAST OF THE BOISE MERIDIANCITY OF CHUBBUCK, BANNOCK COUNTY, IDAHO Attachment 2 Legal Description of Urban Renewal Project Area and Revenue Allocation Area [To be Inserted Upon Completion] Page 1 of 17 URBAN RENEWAL DISTRICT BOUNDARY DESCRIPTION A PARCEL OF LAND LOCATED IN SECTIONS 3 AND 10, TOWNSHIP 6 SOUTH, RANGE 34 EAST OF THE BOISE MERIDIAN, BANNOCK COUNTY, IDAHO, MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE INTERSECTION OF THE EAST RIGHT-OF-WAY LINE OF HAWTHORNE ROAD AND THE NORTH RIGHT-OF-WAY LINE OF INTERSTATE 86 OF SECTION 10, TOWNSHIP 6 SOUTH, RANGE 34 EAST OF THE BOISE MERIDIAN ALSO BEING THE POINT OF BEGINNING; THENCE N 03°50’32” W 249.81 FEET ALONG THE EAST RIGHT-OF-WAY LINE OF HAWTHORNE ROAD; THENCE N 00°06’10” W 1531.12 FEET ALONG THE EAST RIGHT-OF-WAY LINE OF HAWTHORNE ROAD TO THE WEST CORNER OF LOT 1, BLOCK 1 OF YELLOWSTONE COMMONS DIVISION 2 FILED AS INSTRUMENT NUMBER 21314037; THENCE ALONG THE NORTHELY BOUNDARY OF LOT 1, BLOCK 1 OF YELLOWSTONE COMMONS DIVISION 2 FILED AS INSTRUMENT NUMBER 21314037 FOR THE FOLLOWING THREE (3) COURSES: 1) S 89°11’06” E 178.26 FEET; 2) N 00°11’43” W 208.79 FEET; 3) S 89°15’31” E 1103.82 FEET TO THE SOUTHEAST CORNER OF THE LANDS DESCRIBED IN DEED FILED AS INSTRUMENT No. 22402598; THENCE N 00°02’36” W 683.79 FEET ALONG THE EAST BOUNDARY OF THE LANDS DESCRIBED IN DEEDS FILED AS INSTRUMENT No. 22402598 AND 22201846 TO THE SOUTHWEST CORNER OF CHUBBUCK ACRES FILED AS INSTRUMENT No. 158622 ALSO BEING A POINT ON THE NORTH RIGHT-OF-WAY LINE OF CHUBBUCK ROAD; THENCE S 89°16’28” E 701.80 FEET ALONG THE NORTH RIGHT-OF-WAY LINE OF CHUBBUCK ROAD TO THE SE CORNER OF LOT 5 BLOCK 2 OF LESLIE HOMES SUBDIVISION FILED AS INSTRUMENT No 286931; THENCE N 00°30’22” W 308.22 FEET ALONG THE EAST BOUNDARY LINE OF LESLIE HOMES SUBDIVISION FILED AS INSTRUMENT No 286931 TO THE NORTHEAST CORNER OF LESLIE HOMES SUBDIVISION LOT 1, BLOCK 2 FILED AS INSTRUMENT No 286931; THENCE N 00°29’14” W 379.75 FEET ALONG THE EAST BOUNDARY LINE OF THE LAND DESCRIBED IN THE DEED FILED AS INSTRUMENT No 97022015; THENCE S 89°28’16” E 49.98 FEET TO THE SOUTHWEST BOUNDARY OF THE LAND DESCRIBED IN THE DEED FILED AS INSTRUMENT No 21615947; THENCE N 00°29’55” W 314.62 FEET ALONG THE WEST BOUNDARY LINE OF THE LAND DESCRIBED IN THE DEED FILED AS INSTRUMENT No 21615947 TO THE NORTHWEST CORNER OF THE LAND DESCRIBED IN THE DEED FILED AS INSTRUMENT No 21615947; THENCE N 89°37’24” W 747.70 FEET ALONG THE NORTH BOUNDARY LINE OF THE LAND DESCRIBED IN THE DEED FILED AS INSTRUMENT No 97022015 TO A POINT ON THE EAST Page 2 of 17 BOUNDARY LINE OF GARDEN PARK SUBDIVISION 1ST ADDITION FILED AS INSTRUMENT No 20302954; THENCE N 00°21’02” W 526.65 FEET ALONG THE EAST BOUNDARY LINE OF GARDEN PARK SUBDIVISION 1ST ADDITION FILED AS INSTRUMENT No 20302954 TO THE NORTHWEST CORNER OF LOT 6, BLOCK 1 OF GARDEN PARK SUBDIVISION 1ST ADDITION FILED AS INSTRUMENT No 20302954; THENCE N 89°26’41” W 331.32 FEET ALONG THE NORTH BOUNDARY LINE OF GARDEN PARK SUBDIVISION 1ST ADDITION FILED AS INSTRUMENT No 20302954 TO THE NORTHWEST CORNER OF LOT 1, BLOCK 1 OF GARDEN PARK SUBDIVISION 1ST ADDITION FILED AS INSTRUMENT No 20302954; THENCE N 01°08’45” W 181.59 FEET ALONG THE WEST BOUNDARY LINE OF LOTS 1 AND 2, BLOCK 1 OF SMITH SUBDIVISION FILED AS INSTRUMENT No 21311566 TO THE SOUTHWEST CORNER OF LOT 17, BLOCK 1 OF STUART ADDITION FILED AS INSTRUMENT No 334836; THENCE S 89°26’17” E 1214.29 FEET ALONG THE SOUTH BOUNDARY OF STUART ADDITION FILED AS INSTRUMENT No 334836 TO THE FURTHEST SHOWN SOUTHEAST CORNER OF FERN STREET SHOWN IN STUART ADDITION FILED AS INSTRUMENT No 334836; THENCE N 00°39’49” W 239.11 FEET ALONG THE EAST BOUNDARY LINE OF FERN STREET SHOWN IN STUART ADDITION FILED AS INSTRUMENT No 334836 TO THE BEGINNING OF A RIGHT CURVE ON LOT 5, BLOCK 5 OF STUART ADDITION FILED AS INSTRUMENT No 334836; THENCE N 06°16’06” E 65.34 FEET TO THE SOUTHEAST CORNER OF LOT 1, BLOCK 6 OF STUART 2ND ADDITION FILED AS INSTRUMENT No 387811; THENCE N 00°51’08” W 629.06 FEET ALONG THE EAST BOUNDARY LINE OF STUART 2ND AND 3RD ADDITION FILED AS INSTRUMENT No 387811 AND No 502716 TO THE NORTHEAST CORNER OF STUART 3RD ADDITION FILED AS INSTRUMENT No 502716; THENCE S 89°15’27” E 99.57 FEET ALONG THE SOUTH BOUNDARY LINE OF THE FALLS SUBDIVISION FILED AS INSTRUMENT No 22011174 TO THE SOUTHEAST CORNER OF THE FALLS SUBDIVISION FILED AS INSTRUMENT No 22011174; THENCE N 00°17’54” W 222.81 FEET ALONG THE EAST BOUNDARY OF THE FALLS SUBDIVISION FILED AS INSTRUMENT No 22011174 TO THE SOUTHWEST CORNER OF SPRING COVE SUBDIVISION FILED AS INSTRUMENT No 22201120; THENCE N 89°37’03” E 93.19 FEET ALONG THE SOUTH BOUNDARY OF SPRING COVE SUBDIVISION FILED AS INSTRUMENT No 22201120 TO THE SOUTHEAST BOUNDARY OF SPRING COVE SUBDIVISION FILED AS INSTRUMENT No 22201120; THENCE N 00°06’43” E 50.00 FEET ALONG THE EAST BOUNDARY OF SPRING COVE SUBDIVISION FILED AS INSTRUMENT No 22201120 TO THE SOUTHWEST CORNER OF TASTEE TREET SUBDIVISION FILED AS INSTRUMENT No 20504464; THENCE N 89°37’03” E 199.02 FEET ALONG THE SOUTH BOUNDARY OF TASTEE TREET SUBDIVISION FILED AS INSTRUMENT No. 20504464 TO THE SOUTHEAST CORNER OF TASTEE TREET SUBDIVISION FILED AS INSTRUMENT No 20504464; Page 3 of 17 THENCE N 00°17’30” W 116.94 FEET ALONG THE EAST BOUNDARY OF TASTEE TREET SUBDIVISION FILED AS INSTRUMENT No 20504464 TO A POINT ON THE WEST BOUNDARY LINE OF PARK LAWN INTERSECTION SUBDIVISION FILED AS INSTRUMENT No 20505290; THENCE S 89°38’09” W 179.83 FEET ALONG THE WEST BOUNDARY LINE OF PARK LAWN INTERSECTION SUBDIVISION FILED AS INSTRUMENT No 20505290 TO THE SOUTHWEST BOUNDARY LINE OF PARK LAWN INTERSECTION SUBDIVISION FILED AS INSTRUMENT No 20505290; THENCE N 00°26’00” W 98.40 FEET ALONG THE WEST BOUNDARY LINE OF PARK LAWN INTERSECTION SUBDIVISION FILED AS INSTRUMENT No 20505290 TO A 5/8” REBAR WITH ALUMINUM CAP PLS 15295 IN ROMRIELL STORAGE FILED AS INSTRUMENT No 21307042; THENCE N 02°18’47” E 3.14 FEET; THENCE N 89°18’00” W 526.59 FEET ALONG THE SOUTH BOUNDARY LINE OF ROMRIELL STORAGE FILED AS INSTRUMENT No 21307042 TO THE SOUTHWEST CORNER OF LOT 1, BLOCK 2 OF ROMRIELL STORAGE FILED AS INSTRUMENT No 21307042; THENCE N 00°12’18” E 171.56 FEET ALONG THE WEST BOUNDARY LINE OF LOT 1, BLOCK 2 OF ROMRIELL STORAGE FILED AS INSTRUMENT No 21307042 TO THE NORTHWEST CORNER OF LOT 1, BLOCK 2 OF ROMRIELL STORAGE FILED AS INSTRUMENT No 21307042; THENCE S 89°44’36” E 712.54 FEET ALONG THE NORTH BOUNDARY OF ROMRIELL STORAGE FILED AS INSTRUMENT No 21307042 TO THE NORTHEAST CORNER OF ROMRIELL STORAGE FILED AS INSTRUMENT No 21307042; THENCE N 00°19’38” W 447.30 FEET ALONG THE EAST BOUNDARY LINE OF THE LANDS DESCRIBED IN THE DEEDS FILED AS INSTRUMENT No 22000552 AND No 21508571 AND THE PLAT OF RALPH NELSON SUBDIVISION FILED AS INSTRUMENT NUMBER 523927 TO THE NORTHEAST CORNER OF THE LANDS DESCRIBED IN THE DEEDS FILED AS INSTRUMENT No 21508571; THENCE N 89°48’07” W 178.25 FEET ALONG THE NORTH BOUNDARY LINE OF THE LANDS DESCRIBED IN THE DEEDS FILED AS INSTRUMENT No 21508571 TO THE NORTHWEST CORNER OF THE LANDS DESCRIBED IN THE DEEDS FILED AS INSTRUMENT No 21508571; THENCE S 00°31’44” W 118.00 FEET ALONG THE WEST BOUNDARY LINE OF THE LAND DESCRIBED IN THE DEEDS FILED AS INSTRUMENT No 21508571 TO THE SOUTHWEST CORNER OF THE LANDS DESCRIBED IN THE DEEDS FILED AS INSTRUMENT No 21508571; THENCE N 89°41’59” W 968.67 FEET ALONG THE NORTH BOUNDARY LINE OF RALPH NELSON SUBDIVISION FILED AS INSTRUMENT No 523927 AND ALONG THE NORTH BOUNDARY LINE OF THE LAND DESCRIBED IN THE DEEDS FILED AS INSTRUMENT No. 22117290 AND No. 22412203 TO THE SOUTHEAST CORNER OF NELSON SUBDIVISION FIRST ADDITION FILED AS INSTRUMENT No 99021794. THENCE N 00°36’13” E 327.27 FEET ALONG THE EAST BOUNDARY LINE OF NELSON SUBDIVISION FIRST ADDITION FILED AS INSTRUMENT No 99021794 TO THE NORTHEAST CORNER OF NELSON SUBDIVISION FIRST ADDITION FILED AS INSTRUMENT No 99021794; Page 4 of 17 THENCE S 89°54’47” E 1145.55 FEET ALONG THE SOUTH BOUNDARY LINE OF THE LANDS DESCRIBED IN THE DEEDS FILED AS INSTRUMENT No’s 22506084, 21817121, 21412582, 21615053. PLATS ALSO RUNNING ALONG THE SOUTH BOUNDARY INCLUDE RASMUSSEN SUBDIVISION AND P AND B SUBDIVISION FILED AS INSTRUMENT No’s 20514371 AND 20112299 TO A POINT ON THE WEST BOUNDARY LINE OF THE LAND DESCRIBED IN THE DEED FILED AS INSTRUMENT No 21615053; THENCE N 00°32’56” W 338.77 FEET ALONG THE WESTERN SIDE OF THE LANDS DESCRIBED IN THE DEEDS FILED AS INSTRUMENT No. 21615053, No. 99000898 AND P AND H SUBDIVISION FILED AS INSTRUMENT No. 20112299 TO A POINT ON THE SOUTH RIGHT-OF-WAY LINE OF BRISCOE ROAD; THENCE N 89°38’35” W 1614.03 FEET ALONG THE SOUTH RIGHT OF WAY LINE OF BRISCOE ROAD TO A POINT ON THE EAST BOUNDARY LINE OF THE LANDS DESCRIBED IN THE DEEDS FILED AS INSTRUMENT No 22203985; THENCE S 00°05’16” W 240.56 FEET ALONG THE EAST BOUNDARY OF THE LANDS DESCRIBED IN THE DEEDS FILED AS INSTRUMENT No 22203985 TO THE SOUTHEAST CORNER OF THE LANDS DESCRIBED IN THE DEEDS FILED AS INSTRUMENT No 22203985; THENCE N 89°40’05” W 135.32 FEET ALONG THE SOUTH BOUNDARY LINE OF THE LAND DESCRIBED IN THE DEED FILED AS INSTRUMENT No 22203985 TO A POINT ALONG THE SOUTHWEST BOUNDARY OF THE LANDS DESCRIBED IN THE DEEDS FILED AS INSTRUMENT No 22203985; THENCE N 00°43’41” E 60.13 FEET ALONG THE SOUTHWEST BOUNDARY LINE OF THE LAND DESCRIBED IN THE DEED FILED AS INSTRUMENT No 22203985 TO ANOTHER POINT ALONG THE SOUTHWEST BOUNDARY OF THE LANDS DESCRIBED IN THE DEEDS FILED AS INSTRUMENT No 22203985; THENCE N 89°40’05” W 124.69 FEET ALONG THE SOUTHWEST BOUNDARY LINE OF THE LAND DESCRIBED IN THE DEED FILED AS INSTRUMENT No 22203985 AND THE SOUTH BOUNDARY LINE OF THE LAND DESCRIBED IN THE DEED FILED AS INSTRUMENT No 22409155 TO THE SOUTHERN CORNER OF THE LAND DESCRIBED IN THE DEED FILED AS INSTRUMENT No 22409155; THENCE N 00° 43’41” E 36.98 FEET ALONG THE SOUTH BOUNDARY LINE OF THE LAND DESCRIBED IN THE DEED FILED AS INSTRUMENT No 22409155 TO A POINT ON THE SOUTH BOUNDARY LINE OF THE LAND DESCRIBED IN THE DEED FILED AS INSTRUMENT No. 22409155; THENCE N 89°39’42” W 84.81 FEET ALONG THE SOUTHWEST BOUNDARY LINE OF THE LAND DESCRIBED IN THE DEED FILED AS INSTRUMENT No 22409155 TO THE SOUTHWEST CORNER OF THE LAND DESCRIBED IN THE DEED FILED AS INSTRUMENT No 22409155; THENCE N 00°25’07” E 101.36 FEET ALONG THE WEST BOUNDARY LINE OF THE LAND DESCRIBED IN THE DEED FILED AS INSTRUMENT No 22409155 TO THE START OF A CURVE TO THE RIGHT; Page 5 of 17 THENCE 31.28 FEET ALONG SAID CURVE TO THE RIGHT (CURVE DATA: RADIUS = 20.00 FEET, DELTA=89°36’35”, CHORD= N 45°13’30” E 28.19’) TO A POINT ON THE WESTERN BOUNDARY OF THE LAND DESCRIBED IN THE DEED FILED AS INSTRUMENT No. 22409155 TO THE START OF A CURVE TO THE RIGHT; THENCE N 00°01’29” E 50.00 FEET ALONG THE EAST BOUNDARY LINE OF COTTAGE PARK SUBDIVISION FILED AS INSTRUMENT No 20727985 TO THE NORTHEAST CORNER OF COTTAGE PARK SUBDIVISION FILED AS INSTRUMENT No. 20727985. THENCE S 89°58’16” E 78.00 FEET ALONG THE SOUTH BOUNDARY LINE OF GARDEN OAKS DIVISION 2 FILED AS INSTRUMENT No. 20116700 TO THE SOUTHEAST CORNER OF GARDEN OAKS DIVISION 2 FILED AS INSTRUMENT No. 20116700; THENCE N 00°00’24” E 929.38 FEET ALONG THE EAST BOUNDARY LINE OF GARDEN OAKS DIVISION 1 AND 2 FILED AS INSTRUMENT No 20017332 AND No 20116700 TO THE NORTHEAST CORNER OF GARDEN OAKS DIVISION 1 FILED AS INSTRUMENT No 20017332; THENCE S 89°45’12” E 418.30 FEET ALONG THE SOUTH RIGHT-OF-WAY LINE OF SIPHON ROAD TO THE SOUTHWEST CORNER OF PARADISE ACRES SUBDIVISION FILED AS INSTRUMENT No. 538355. THENCE N 00°33’51” E 23.59 FEET ALONG THE WEST BOUNDARY LINE OF PARADISE ACRES SUBDIVISION FILED AS INSTRUMENT No. 538355 TO THE SOUTHWEST CORNER OF LOT 1 BLOCK 1 OF PARADISE ACRES SUBDIVISION FILED AS INSTRUMENT No. 538355; THENCE S 89°46’10” E 1171.22 FEET ALONG THE NORTH RIGHT-OF-WAY LINE OF SIPHON ROAD TO A POINT ON THE SOUTH BOUNDARY LINE OF PAULINE FLATS FILED AS INSTRUMENT No. 2240526. THENCE N 00°18’49” E 16.00 FEET ALONG THE EAST BOUNDARY LINE OF PAULINE FLATS FILED AS INSTRUMENT No. 2240526 TO THE SOUTHWEST CORNER OF LOT 4, BLOCK 1 OF PAULINE FLATS FILED AS INSTRUMENT No. 2240526; THENCE S 89°56’15” E 298.75 FEET ALONG THE SOUTH BOUNDARY LINE OF PAULINE FLATS FILED AS INSTRUMENT No. 2240526; THENCE S 00°04’02” W 40.88 FEET TO THE NORTHWEST CORNER OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT No. 22507841; THENCE S 89°36’44” E 1571.58 FEET ALONG THE NORTH BOUNDARY LINE OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT No. 22202404 TO THE NORTHEAST CORNER OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT No. 22202404. THENCE S 01°03’35” E 3000.78 FEET ALONG THE ALONG THE WEST RIGHT-OF-WAY LINE OF UNION PACIFIC RAILROAD TO THE SOUTH RIGHT OF WAY LINE OF HIGHWAY AVENUE THENCE N 89°03’32” W 1579.12 FEET ALONG THE SOUTH RIGHT-OF-WAY LINE OF HIGHWAY AVENUE TO THE EAST RIGHT-OF-WAY LINE OF YELLOWSTONE AVENUE; Page 6 of 17 THENCE S 00°15’12” E 312.35 FEET ALONG THE EAST RIGHT-OF-WAY LINE OF YELLOWSTONE AVENUE TO THE SOUTHWEST CORNER OF HIGHWAY ACRES FILED AS INSTRUMENT No 251785; THENCE S 89°29’17” E 655.42 FEET ALONG THE SOUTH BOUNDARY LINE OF HIGHWAY ACRES FILED AS INSTRUMENT No 251785 TO THE NORTHWEST CORNER OF FRASURE INDUSTRIAL PARK 2ND ADDITION FILED AS INSTRUMENT No 20509107; THENCE S 00°33’45” W 72.78 FEET ALONG THE WEST BOUNDARY LINE OF FRASURE INDUSTRIAL PARK 2ND ADDITION FILED AS INSTRUMENT No 20509107 TO THE WEST BOUNDARY LINE OF FRASURE INDUSTRIAL PARK 2ND ADDITION FILED AS INSTRUMENT No 20509107; THENCE S 03°48’39” W 214.08 FEET ALONG THE WEST BOUNDARY LINE OF FRASURE INDUSTRIAL PARK 2ND ADDITION FILED AS INSTRUMENT No. 20509107 TO THE SOUTHWEST CORNER OF LOT 7, BLOCK 4 OF FRASURE INDUSTRIAL PARK 2ND ADDITION FILED AS INSTRUMENT No 20509107; THENCE S 00°01’52” W 49.96 FEET CROSSING LAUREL LANE TO A POINT ON THE NORTH BOUNDARY LINE OF LOT 11 BLOCK 1 OF FRASURE INDUSTRIAL PARK 1ST ADDITION FILED AS INSTRUMENT No. 98013951; THENCE N 89°26’23” W 43.15 FEET ALONG THE NORTH BOUNDARY LINE OF LOT 11 BLOCK 1 OF FRASURE INDUSTRIAL PARK 1ST ADDITION FILED AS INSTRUMENT No 98013951 TO THE NORTHWEST CORNER OF LOT 11 BLOCK 1 OF FRASURE INDUSTRIAL PARK 1ST ADDITION FILED AS INSTRUMENT No 98013951; THENCE S 00°40’45” E 283.87 FEET ALONG THE WEST BOUNDARY LINE OF LOTS 8, 9, 11 OF BLOCK 1 OF FRASURE INDUSTRIAL PARK 1ST ADDITION FILED AS INSTRUMENT No 98013951 TO THE SOUTHWEST CORNER OF LOT 12 OF BLOCK 1 OF FRASURE INDUSTRIAL PARK 1ST ADDITION FILED AS INSTRUMENT No. 98013951; THENCE S 89°32’19” E 64.98 FEET ALONG THE WEST BOUNDARY OF LOT 8, BLOCK 1 OF FRASURE INDUSTRIAL PARK 1ST ADDITION FILED AS INSTRUMENT No 98013951 TO A CORNER ON THE WEST BOUNDARY OF LOT 8, BLOCK 1 OF FRASURE INDUSTRIAL PARK 1ST ADDITION FILED AS INSTRUMENT No 98013951; THENCE S 00°40’44” E 48.93 FEET ALONG THE WEST BOUNDARY LINE OF LOTS 7 AND 8 BLOCK 1 OF FRASURE INDUSTRIAL PARK 1ST ADDITION FILED AS INSTRUMENT No. 98013951 TO THE NORTHEAST CORNER OF THE LAND DESCRIBED IN THE DEED FILED AS INSTRUMENT No 22113148; THENCE N 89°23’10” W 411.62 FEET ALONG THE NORTH BOUNDARY LINE OF THE LAND DESCRIBED IN THE DEED FILED AS INSTRUMENT No. 22113148 AND CANDEE SUBDIVISION FILED AS INSTRUMENT No 22307120 TO THE NORTHWEST CORNER OF CANDEE SUBDIVISION FILED AS INSTRUMENT No 22307120; THENCE S 00°21’51” W 185.27 FEET ALONG THE WEST BOUNDARY LINE OF CANDEE SUBDIVISION FILED AS INSTRUMENT No. 22307120 TO THE SOUTHWEST CORNER OF CANDEE SUBDIVISION FILED AS INSTRUMENT No. 22307120; Page 7 of 17 THENCE S 89°18’07” E 172.44 FEET ALONG THE NORTH RIGHT-OF-WAY LINE OF WARD ROAD TO THE NORTHWEST CORNER OF CUSTOM CRAFT COMMERCIAL CONDOMINIUMS FILED AS INSTRUMENT No. 602213; THENCE S 00°14’49” E 239.99 FEET ALONG THE WEST BOUNDARY LINE OF CUSTOM CRAFT COMMERCIAL CONDOMINIUMS FILED AS INSTRUMENT No 602213 TO THE SOUTHWEST CORNER OF CUSTOM CRAFT COMMERCIAL CONDOMINIUMS FILED AS INSTRUMENT No 602213; THENCE S 89°25’38” E 383.90 FEET ALONG THE SOUTH BOUNDARY LINE OF CUSTOM CRAFT COMMERCIAL CONDOMINIUMS FILED AS INSTRUMENT No. 602213 AND ALONG THE SOUTH BOUNDARY LINE OF LOT 4, BLOCK 1 OF FRASURE INDUSTRIAL PARK FILED AS INSTRUMENT No 97003299 TO THE SOUTHEAST CORNER OF LOT 4, BLOCK 1 OF FRASURE INDUSTRIAL PARK FILED AS INSTRUMENT No 97003299; THENCE S 00°30’43” E 101.32 FEET ALONG THE WEST BOUNDARY LINE OF LOT 3, BLOCK 1 OF FRASURE INDUSTRIAL PARK FILED AS INSTRUMENT No 97003299 TO THE SOUTHEAST CORNER OF LOT 3, BLOCK 1 OF FRASURE INDUSTRIAL PARK FILED AS INSTRUMENT No 97003299; THENCE S 89°47’49” E 61.40 FEET ALONG THE NORTH BOUNDARY LINE OF LOT 2, BLOCK 1 OF FRASURE INDUSTRIAL PARK FILED AS INSTRUMENT No 97003299 TO THE NORTHEAST CORNER OF LOT 2, BLOCK 1 OF FRASURE INDUSTRIAL PARK FILED AS INSTRUMENT No 97003299; THENCE S 00°40’24” E 140.47 FEET ALONG THE EAST BOUNDARY LINE OF LOT 2, BLOCK 1 OF FRASURE INDUSTRIAL PARK FILED AS INSTRUMENT No. 97003299 TO THE SOUTHEAST CORNER OF LOT 2, BLOCK 1 OF FRASURE INDUSTRIAL PARK FILED AS INSTRUMENT No 97003299; THENCE N 89°21’39” W 38.71 FEET ALONG THE SOUTH BOUNDARY LINE OF LOT 2, BLOCK 1 OF FRASURE INDUSTRIAL PARK FILED AS INSTRUMENT No. 97003299 TO THE NORTHEAST CORNER OF LOT 3, BLOCK 1 OF MYSTIQUE SUBDIVISION FILED AS INSTRUMENT No. 20019204; THENCE S 00°38’22” E 158.79 FEET ALONG THE EAST BOUNDARY LINE OF LOT 3, BLOCK 1 OF MYSTIQUE SUBDIVISION FILED AS INSTRUMENT No. 20019204 TO THE SOUTHEAST CORNER OF THE LANDS DESCRIBED IN THE DEEDS FILED AS INSTRUMENT No. 20019325; THENCE N 89°30’34” W 409.19 FEET ALONG THE SOUTH BOUNDARY LINE OF THE LANDS DESCRIBED IN THE DEEDS FILED AS INSTRUMENT No. 20019325 AND THE SOUTH BOUNDARY LINE OF BOISE PAYETTE TRACTS FILED AS INSTRUMENT No. 214582 TO THE SOUTHWEST CORNER OF LOT 4, BLOCK 1 OF BOISE PAYETTE TRACTS FILED AS INSTRUMENT No. 214582; THENCE S 00°22’22” E 481.60 FEET ALONG THE EAST RIGHT-OF-WAY LINE OF VALENTY ROAD TO WHERE IT INTERSECTS WITH THE NORTH RIGHT-OF-WAY LINE OF CHUBBUCK ROAD; THENCE S 89°26’59” E 1195.14 FEET ALONG THE NORTH RIGHT-OF-WAY LINE OF CHUBBUCK ROAD TO WHERE IT INTERSECTS WITH THE WEST RIGHT-OF-WAY LINE OF THE UNION PACIFIC RAILROAD; Page 8 of 17 THENCE ALONG THE WEST RIGHT-OF-WAY LINE OF THE UNION PACIFIC RAILROAD FOR THE NEXT SIX (6) COURSES: 1) S 05°35’54” E 49.46 FEET; 2) S 01°29’06” E 497.22 FEET; 3) S 02°25’22” E 213.60 FEET; 4) S 05°09’59” E 224.59 FEET; 5) S 07°47’26” E 499.24 FEET; 6) S 08°13’21” E 190.54 FEET TO THE SOUTHEAST CORNER OF WILLIES STORAGE SUBDIVISION FILED AS INSTRUMENT No 21012470; THENCE N 89°17’20” W 449.34 FEET ALONG THE SOUTH BOUNDARY LINE OF WILLIES STORAGE SUBDIVISION FILED AS INSTRUMENT No 21012470 AND CROSSING BURLEY DR TO A POINT ON THE EASTERLY BOUNDARY LINE OF ICCU MAIN CAMPUS FILED WITH THE INSTRUMENT No. 21602913; THENCE N 00°02’09” W 59.91 FEET ALONG THE EASTERLY BOUNDARY LINE OF ICCU MAIN CAMPUS FILED AS INSTRUMENT No 21602913; THENCE N 44°21’12” W 26.19 FEET ALONG THE NORTHEAST BOUNDARY LINE OF ICCU MAIN CAMPUS FILED AS INSTRUMENT No 21602913 TO A POINT ON THE SOUTH RIGHT-OF-WAY LINE OF EVANS LANE; THENCE N 89°26’58” W 1260.90 FEET ALONG THE SOUTH RIGHT-OF-WAY LINE OF EVANS LANE TO A POINT ON THE NORTHWEST BOUNDARY LINE OF THE LANDS DESCRIBED IN THE DEEDS FILED AS INSTRUMENT No. 22407001; THENCE S 45°31’44” W 33.15 FEET ALONG THE NORTHWEST BOUNDARY LINE OF THE LANDS DESCRIBED IN THE DEEDS FILED AS INSTRUMENT No. 22407001 TO A POINT ON THE EAST RIGHT-OF-WAY LINE OF YELLOWSTONE AVENUE; THENCE ALONG THE EAST RIGHT-OF-WAY LINE OF YELLOWSTONE AVENUE FOR THE NEXT FOUR (4) COURSES: 1) S 00°23’13” W 316.51 FEET; 2) S 01°34’50” E 264.02 FEET; 3) S 04°07’09” W 53.65 FEET; 4) S 07°29’46” E 222.27 FEET TO THE SOUTHWEST CORNER OF JACKSONS FOOD STORE INC FILED AS INSTRUMENT No. 97006763; THENCE N 89°32’18” W 128.98 FEET CROSSING YELLOWSTONE AVENUE TO THE EASTERN CORNER OF INTERSTATE GROUP SUBDIVISION FILED AS INSTRUMENT No. 575288; THENCE ALONG THE NORTH RIGHT-OF-WAY LINE OF INTERSTATE 86 FOR THE NEXT TWO (2) COURSES: 1) S 73°18’14” W 686.34 FEET 2) N 89°22’25” W 1858.72 FEET TO THE INTERSECTION OF THE EAST RIGHT OF WAY LINE OF HAWTHORNE ROAD AND THE NORTH RIGHT OF WAY LINE OF INTERSTATE 86 OF SECTION Page 9 of 17 10, TOWNSHIP 6 SOUTH, RANGE 34 EAST OF THE BOISE MERIDIAN ALSO BEING THE POINT OF BEGINNING. DESCRIPTION CONTAINS 440 ACRES MORE OR LESS AREA MINUS ACREAGES OF EXCEPTIONS 393 ACRES MORE OR LESS LESS THAN AND EXCPETING BELOW DESCRIBED PARCELS 1 THROUGH 11; LESS THAN AND EXCEPTING PARCEL 1: BRISCOE MEADOWS SUBDIVISION FILED AS INSTRUMENT No. 94012599, BRISCOE MEADOWS SUBDIVISION PHASE 2 FILED AS INSTRUMENT No. 94016206, YELLOWSTONE VILLAGE SUBDIVISION FILED AS INSTRUMENT No. 22200692, DANCE PUD PHASE 2 FILED AS INSTRUMENT No. 21714967, LOTS 2, 4, 5, 6, 7, 8, 9, 10 OF DANCE PUD FILED AS INSTRUMENT No. 21510802 AND THE LANDS DESCRIBED IN THE DEEDS FILED AS INSTRUMENT No. 22504155, 21910220, 22408329, 21414857, 22203821, 21709359, 22019855, BEING FURTHER DESCRIBED AS FOLLOWS: COMMENCING AT THE SOUTHWEST CORNER OF BRISCOE MEADOWS SUBDIVISION PHASE 2 FILED AS INSTRUMENT No. 94016206 ALSO BEING THE POINT OF BEGINNING; THENCE S 89°38’35” E 1327.77 FEET ALONG THE NORTH RIGHT-OF-WAY LINE OF BRISCOE ROAD TO THE SOUTHWEST CORNER OF YELLOWSTONE VILLAGE SUBDIVISION FILED AS INSTRUMENT No 22200692; THENCE N 00°13’12” W 365.22 FEET ALONG THE EAST BOUNDARY LINE OF YELLOWSTONE VILLAGE SUBDIVISION FILED AS INSTRUMENT No 22200692 TO THE NORTHEAST CORNER OF YELLOWSTONE VILLAGE SUBDIVISION FILED AS INSTRUMENT No 22200692; THENCE N 89°48’26” W 699.83 FEET ALONG THE SOUTH BOUNDARY LINE OF LANDS DESCRIBED IN THE DEEDS FILED AS INSTRUMENT No. 21909037, No. 538208, AND No. 97012134 TO THE SOUTHEAST CORNER OF LOT 2, BLOCK 1 OF DANCE PUD FILED AS INSTRUMENT No 21510802; THENCE N 00°29’54” W 411.63 FEET ALONG THE EAST BOUNDARY LINE OF DANCE PUD FILED AS INSTRUMENT No 21510802 TO THE SOUTHEAST CORNER OF LOT 3, BLOCK 1 OF DANCE PUD FILED AS INSTRUMENT No 21510802; THENCE N 89°45’12” W 100.00 FEET ALONG THE SOUTH BOUNDARY LINE OF LOT 3, BLOCK 1 OF DANCE PUD FILED AS INSTRUMENT No 21510802 TO THE SOUTHWEST CORNER OF LOT 3, BLOCK 1 OF DANCE PUD FILED AS INSTRUMENT No 21510802; THENCE N 00°29’54” W 95.00 FEET ALONG THE WEST BOUNDARY LINE OF LOT 3, BLOCK 1 OF DANCE PUD FILED AS INSTRUMENT No 21510802 TO THE NORTHWEST CORNER OF LOT 3, BLOCK 1 OF DANCE PUD FILED AS INSTRUMENT No 21510802; Page 10 of 17 THENCE N 89°45’12” W 70.01 FEET ALONG THE NORTH BOUNDARY LINE OF LOT 2, BLOCK 1 OF DANCE PUD FILED AS INSTRUMENT No 21510802 TO THE NORTHWEST CORNER OF LOT 2, BLOCK 1 OF DANCE PUD FILED AS INSTRUMENT No 21510802; THENCE S 00°29’54” E 105.19 FEET ALONG THE WEST BOUNDARY LINE OF LOT 2, BLOCK 1 OF DANCE PUD FILED AS INSTRUMENT No 21510802 TO THE NORTHEAST CORNER OF LOT 1, BLOCK 1 OF DANCE PUD PHASE 2 FILED AS INSTRUMENT No 21714967; THENCE S 64°01’45” W 74.99 FEET ALONG THE NORTH BOUNDARY LINE OF LOT 1, BLOCK 1 OF DANCE PUD PHASE 2 FILED AS INSTRUMENT No 21714967 TO A POINT ON NORTH BOUNDARY LINE OF LOT 1, BLOCK 1 OF DANCE PUD PHASE 2 FILED AS INSTRUMENT No 21714967; THENCE S 89°19’26” W 92.30 FEET ALONG THE NORTH BOUNDARY LINE OF LOT 1, BLOCK 1 OF DANCE PUD PHASE 2 FILED AS INSTRUMENT No 21714967 TO THE NORTHWEST CORNER OF LOT 1, BLOCK 1 OF DANCE PUD PHASE 2 FILED AS INSTRUMENT No 21714967; THENCE S 00°29’54” E 366.27 FEET ALONG THE WEST BOUNDARY LINE OF LOTS 1 AND 6, BLOCK 1 OF DANCE PUD PHASE 2 FILED AS INSTRUMENT No 21714967 TO THE SOUTHWEST CORNER OF LOT 6, BLOCK 1 OF DANCE PUD PHASE 2 FILED AS INSTRUMENT No 21714967 ; THENCE N 89°39’29” W 297.18 FEET ALONG THE NORTH BOUNDARY LINE OF BRISCOE MEADOWS SUBDIVISION FILED AS INSTRUMENT No 94012599 TO THE NORTHWEST CORNER LOT 1, BLOCK 1 OF BRISCOE MEADOWS SUBDIVISION FILED AS INSTRUMENT No 94012599; THENCE S 00°06’32” E 363.04 FEET ALONG THE WEST BOUNDARY LINE OF BRISCOE MEADOWS SUBDIVISION FILED AS INSTRUMENT No 94012599 AND ALONG THE WEST BOUNDARY LINE OF BRISCOE MEADOWS SUBDIVISION PHASE 2 TO THE SOUTHWEST CORNER OF BRISCOE MEADOWS SUBDIVISION PHASE 2 FILED AS INSTRUMENT No 94016206 ALSO BEING THE POINT OF BEGINNING. LESS THAN AND EXCEPTING PARCEL 2: BLOCK 3 OF DIAMOND COURT FILED AS INSTRUMENT No. 96014662 BEING FURTHER DESCRIBED AS FOLLOWS: COMMENCING AT THE NORTHWEST CORNER OF LOT 1, BLOCK 3 OF DIAMOND COURT FILED AS INSTRUMENT No 96014662 ALSO BEING THE POINT OF BEGINNING; THENCE S 00°30’00” E 274.02 FEET ALONG THE EAST BOUNDARY LINE OF LOT 1, BLOCK 3 OF DIAMOND COURT FILED AS INSTRUMENT No 96014662 TO A CURVE TO THE LEFT; THENCE 46.73 FEET ALONG SAID CURVE TO THE LEFT (CURVE DATA: RAIDUS = 30.00 FEET, DELTA = 89°14’31”, CHORD = S 45°07’16” E 42.14 FEET) TO THE SOUTHWEST BOUNDARY LINE OF LOT 1, BLOCK 3 OF DIAMOND COURT FILED AS INSTRUMENT No 96014662; THENCE S 89°44’37” E 487.74 FEET ALONG THE SOUTH BOUNDARY LINE OF BLOCK 3 OF DIAMOND COURT FILED AS INSTRUMENT No 96014662 TO A CURVE TO THE LEFT; Page 11 of 17 THENCE 31.39 FEET ALONG SAID CURVE TO THE LEFT (CURVE DATA; RADIUS = 19.98 FEET, DELTA = 90°02’46”, CHORD N 45°18’11” E 28.26 FEET) TO THE SOUTHEAST CORNER OF LOT 3, BLOCK 3 OF DIAMOND COURT FILED AS INSTRUMENT No 96014662; THENCE N 00°18’30” E 283.63 FEET ALONG THE EAST BOUNDARY LINE OF LOT 3, BLOCK 3 OF DIAMOND COURT FILED AS INSTRUMENT No. 96014662, TO THE NORTHEAST CORNER OF LOT 3, BLOCK 3 OF DIAMOND COURT FILED AS INSTRUMENT No 96014662; THENCE N 89°44’37” W 541.61 FEET ALONG THE NORTH BOUNDARY LINE OF BLOCK 3 OF DIAMOND COURT FILED AS INSTRUMENT No. 96014662 TO THE POINT OF BEGINNING. LESS THAN AND EXCEPTING PARCEL 3: LOTS 1 THROUGH 12 OF BLOCK 1, ALL OF BLOCK 2 OF DIAMOND COURT FILED AS INSTRUMENT No 96014662 AND THE ROAD DIAMOND CIRCLE BEING FURTHER DESCRIBED AS FOLLOWS: COMMENCING AT THE NORTHWEST CORNER OF LOT 12, BLOCK 1 OF DIAMOND COURT FILED AS INSTRUMENT No 96014662 ALSO BEING THE POINT OF BEGINNING; THENCE S 89°39’33” E 560.02 FEET ALONG THE NORTH BOUNDARY LINE OF BLOCK 1 OF DIAMOND COURT FILED AS INSTRUMENT No 96014662 TO THE NORTHEAST CORNER OF LOT 9, BLOCK 1 OF DIAMOND COURT FILED AS INSTRUMENT No 96014662; THENCE S 00°18’30” W 468.80 FEET ALONG THE EAST BOUNDARY LINE OF BLOCK 1 OF DIAMOND COURT FILED AS INSTRUMENT No 96014662 TO THE NORHEAST CORNER OF LOT 5, BLOCK 1 OF DIAMOND COURT FILED AS INSTRUMENT No 96014662; THENCE S 32°26’42” W 175.53 FEET ALONG THE EAST LINE OF LOT 5, BLOCK 1 OF DIAMOND COURT FILED AS INSTRUMENT No 96014662 TO THE SOUTH CORNER OF LOT 5, BLOCK 1 OF DIAMOND COURT FILED AS INSTRUMENT No 96014662; THENCE S 60°18’30” W 117.64 FEET ALONG THE SOUTHWEST BOUNDARY LINE OF LOT 4, BLOCK 1 OF DIAMOND COURT FILED AS INSTRUMENT No 96014662 TO A POINT ON THE SOUTHWEST BOUNDARY LINE OF DIAMOND COURT FILED AS INSTRUMENT No 96014662; THENCE N 89°35’31” W 371.66 FEET ALONG THE SOUTH BOUNDARY LINE OF BLOCK 1 OF DIAMOND COURT FILED AS INSTRUMENT No 96014662 TO THE SOUTHWEST CORNER OF LOT 1, BLOCK 1 OF DIAMOND COURT FILED AS INSTRUMENT No 96014662 WHICH IS THE START OF A NON-TANGENT CURVE TO THE LEFT; THENCE 33.40 FEET ALONG SAID NON-TANGENT CURVE TO THE LEFT (CURVE DATA; RADIUS = 80.14 FEET, DELTA = 23°52’38”, CHORD N 12°17’18” E 33.16 FEET); THENCE N 00°18’30” E 643.50 FEET ALONG THE EAST RIGHT-OF-WAY LINE OF PARK LAWN DRIVE TO THE POINT OF BEGINNING. Page 12 of 17 LESS THAN AND EXCEPTING PARCEL 4: LOTS 2,3,4 OF BLOCK 1 OF CROSSROADS SQUARE FILED AS INSTRUMENT No 21202777 BEING FURTHER DESCRIBED AS FOLLOWS: COMMENCING AT THE SOUTHWEST CORNER OF LOT 3, BLOCK 1 OF CROSSROADS SQUARE FILED AS INSTRUMENT No 21202777 ALSO BEING THE POINT OF BEGINNING; THENCE S 89°05’57” E 387.61 FEET ALONG THE SOUTH BOUNDARY LINE OF LOTS 2 AND 3 OF BLOCK 1 OF CROSSROADS SQUARE FILED AS INSTRUMENT No. 21202777 TO THE SOUTHEAST CORNER OF LOT 2, BLOCK 1 OF CROSSROADS SQUARE FILED AS INSTRUMENT No 21202777; THENCE N 00°43’36” W 376.96 FEET ALONG THE EAST BOUNDARY LINE OF LOT 2, BLOCK 1 OF CROSSROADS SQUARE FILED AS INSTRUMENT No 21202777 TO THE NORTHEAST CORNER OF LOT 2, BLOCK 1 OF CROSSROADS SQUARE FILED AS INSTRUMENT No 21202777; THENCE N 89°44’37” W 356.80 FEET ALONG THE NORTH BOUNDARY LINE OF LOTS 2 AND 4 OF CROSSROADS SQUARE FILED AS INSTRUMENT No 21202777 TO THE NORTH BOUNDARY LINE OF LOT 4 OF CROSSROADS SQUARE FILED AS INSTRUMENT No 21202777 ALSO BEING THE START OF A CURVE TO THE LEFT; THENCE 47.66 FEET ALONG SAID CURVE TO THE LEFT (CURVE DATA: RADIUS = 30.00 FEET, DELTA = 91°01’24”, CHORD = S 44°48’40” W 42.80 FEET) TO THE WEST BOUNDARY LINE OF LOT 4 OF CROSSROADS SQUARE FILED AS INSTRUMENT No. 21202777; THENCE S 00°42’02” E 342.09 FEET ALONG THE WEST BOUNDARY LINE OF LOTS 3 AND 4 OF CROSSROADS SQUARE FILED AS INSTRUMENT No. 21202777 TO THE POINT OF BEGINNING. LESS THAN AND EXCEPTING PARCEL 5: BLOCK 2 OF AFTON MEADOWS SUBDIVISION FILED AS INSTRUMENT No. 20600168 AND THE LAND DESCRIBED IN THE DEED FILED AS INSTRUMENT No. 22306031 BEING FURTHER DESCRIBED AS FOLLOWS: COMMENCING AT TO THE SOUTHWEST CORNER OF LOT 6, BLOCK 2 OF AFTON MEADOWS SUBDIVISION FILED AS INSTRUMENT No 20600168 ALSO BEING THE POINT OF BEGINNING; THENCE N 80°12’00” E 281.65 FEET ALONG THE SOUTH SIDE OF BLOCK 2 OF AFTON MEADOWS SUBDIVISION FILED AS INSTRUMENT No 20600168 TO THE SOUTHEAST CORNER OF LOT 8, BLOCK 2 OF AFTON MEADOWS SUBDIVISION FILED AS INSTRUMENT No 20600168; THENCE N 00°43’32” E 408.50 FEET ALONG THE WEST RIGHT-OF-WAY LINE OF AFTON AVENUE TO A POINT OF THE NORTH BOUNDARY LINE OF AFTON MEADOWS SUBDIVISION FILED AS INSTRUMENT No 20600168; THENCE N 89°16’28” W 423.55 FEET ALONG THE NORTH BOUNDARY LINE OF AFTON MEADOWS SUBDIVISION FILED AS INSTRUMENT No 20600168 AND ALONG THE NORTH BOUNDARY LINE OF THE LAND DESCRIBED IN THE DEED FILED AS INSTRUMENT No 22306031 TO THE NORTHWEST CORNER OF THE LAND DESCRIBED IN THE DEED FILED AS INSTRUMENT No 22306031; Page 13 of 17 THENCE S 00°36’38” E 133.94 FEET ALONG THE WEST BOUNDARY LINE OF THE LAND DESCRIBED IN THE DEED FILED AS INSTRUMENT No 22306031 TO THE SOUTHWEST CORNER OF THE LAND DESCRIBED IN THE DEED FILED AS INSTRUMENT No 22306031; THENCE S 89°40’21” E 139.38 FEET ALONG THE SOUTH BOUNDARY LINE OF THE LAND DESCRIBED IN THE DEED FILED AS INSTRUMENT No 22306031 TO THE SOUTHEAST CORNER OF THE LAND DESCRIBED IN THE DEED FILED AS INSTRUMENT No 22306031; THENCE S 00°00’02” W 327.04 FEET ALONG THE WEST BOUNDARY LINE OF BLOCK 2 OF AFTON MEADOWS SUBDIVISION FILED AS INSTRUMENT No 20600168 TO THE POINT OF BEGINNING. LESS THAN AND EXCEPTING PARCEL 6: AF CHUBBUCK FILED AS INSTRUMENT No 21002430 AND THE LAND DESCRIBED IN THE DEED FILED AS INSTRUMENT No 22302965 BEING FURTHER DESCRIBED AS FOLLOWS: COMMENCING TO THE SOUTHWEST CORNER OF THE LAND DESCRIBED IN THE DEED FILED AS INSTRUMENT No 22302965 ALSO BEING THE POINT OF BEGINNING; THENCE S 89°28’24” E 255.31 FEET ALONG THE SOUTH BOUNDARY LINE OF THE LAND DESCRIBED IN THE DEED FILED AS INSTRUMENT No 22302965 AND ALONG THE SOUTH BOUNDARY LINE OF BLOCK 1 OF AF CHUBBUCK FILED AS INSTRUMENT No 21002430 TO THE SOUTHEAST CORNER OF BLOCK 1 OF AF CHUBBUCK FILED AS INSTRUMENT No 21002430; THENCE N 00°04’10” W 112.54 FEET ALONG THE EAST BOUNDARY LINE OF BLOCK 1 OF AF CHUBBUCK FILED AS INSTRUMENT No 21002430 TO THE NORTHEAST CORNER OF BLOCK 1 OF AF CHUBBUCK FILED AS INSTRUMENT No 21002430; THENCE N 89°30’51” W 255.04 FEET ALONG THE NORTH BOUNDARY LINE OF AF CHUBBUCK FILED AS INSTRUMENT No 21002430 AND ALONG THE NORTH BOUNDARY LINE OF THE LAND DESCRIBED IN THE DEED FILED AS INSTRUMENT No 22302965 TO THE NORTHWEST CORNER OF THE LAND DESCRIBED IN THE DEED FILED AS INSTRUMENT No 22302965; THENCE S 00°04’12” W 112.36 FEET ALONG THE WEST BOUNDARY LINE OF THE LAND DESCRIBED IN THE DEED FILED AS INSTRUMENT No 22302965 TO THE POINT OF BEGINNING; PARCEL 7: THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT No. 21407021 BEING FURTHER DESCRIBED AS FOLLOWS: COMMENCING AT THE SOUTHWEST CORNER OF THE LAND DESCRIBED IN THE DEED FILED AS INSTRUMENT No. 21407021 ALSO BEING THE POINT OF BEGINNING: THENCE S 89°22’11” E 164.26 FEET ALONG THE SOUTHERN BOUNDARY LINE OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT No. 21407021 TO THE SOUTHEAST CORNER OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT No 21407021; Page 14 of 17 THENCE N 00°09’18” W 190.34 FEET ALONG EAST BOUNDARY LINE OF THE LAND S DESCRIBED IN THE DEED FILED AS INSTRUMENT No. 21407021 TO THE NORTHEAST CORNER OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT No. 21407021; THENCE N 89°30’31” W 164.02 FEET ALONG THE NORTH BOUNDARY LINE OF THE LAND S DESCRIBED IN THE DEED FILED AS INSTRUMENT No. 21407021 TO THE NORTHWEST CORNER OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT No. 21407021; THENCE S 00°04’54” E 189.94 FEET ALONG THE WEST BOUNDARY LINE OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT No 21407021 TO THE SOUTHWEST CORNER OF THE LAND DESCRIBED IN THE DEED FILED AS INSTRUMENT No 649272 ALSO BEING THE POINT OF BEGINNING. LESS THAN AND EXCEPTING PARCEL 8: LOTS 1, 2, 3, 4, 5, 6, 8, 9 OF BLOCK 1 OF ARBOR COURT FILED AS INSTRUMENT No. 22202065 BEING FURTHER DESCRIBED AS FOLLOWS: COMMENCING AT THE SOUTHWEST CORNER OF LOT 6, BLOCK 1 OF ARBOR COURT FILED AS INSTRUMENT No 22202065 ALSO BEING POINT OF BEGINNING; THENCE S 89°50’42” E 161.65 FEET ALONG THE SOUTH BOUNDARY LINE OF LOTS 6 AND 8 OF BLOCK 1 OF ARBOR COURT FILED AS INSTRUMENT No 22202065 TO THE SOUTHEAST CORNER OF LOT 8, BLOCK 1 OF ARBOR COURT FILED AS INSTRUMENT No 22202065; THENCE N 00°00’39” E 450.87 FEET ALONG THE EAST BOUNDARY LINE OF LOTS 1,8, AND 9 OF BLOCK 1 OF ARBOR COURT FILED AS INSTRUMENT No 22202065 TO THE NORTHEAST CORNER OF LOT 1, BLOCK 1 OF ARBOR COURT FILED AS INSTRUMENT No 22202065; THENCE N 89°49’25” W 161.45 FEET ALONG THE NORTH BOUNDARY LINE OF LOTS 1 AND 2 OF ARBOR COURT FILED AS INSTRUMENT No 22202065 TO THE NORTWEST CORNER OF LOT 2, BLOCK 1 OF ARBOR COURT FILED AS INSTRUMENT No 22202065; THENCE S 00°02’11” W 450.93 FEET ALONG THE WEST BOUNDARY LINE OF LOTS 2,3,4,5,6 OF ARBOR COURT FILED AS INSTRUMENT No 22202065 TO THE POINT OF BEGINNING. LESS THAN AND EXCEPTING PARCEL 9: DESCRIBED IN THE DEEDS FILED AS INSTRUMENT No. 21515936, No. 21208953, AND No. 21613412 BEING FURTHER DESCRIBED AS FOLLOWS: COMMENCING AT THE SOUTHWEST CORNER OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT No 21613412 ALSO BEING POINT OF BEGINING; THENCE S 89°29’48” E 100.74 FEET ALONG THE SOUTH BOUNDARY LINE OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT No. 21613412 TO THE SOUTHEAST CORNER OF THE LAND DESCRIBED IN THE DEED FILED AS INSTRUMENT No 21613412; Page 15 of 17 THENCE N 00°00’02” E 226.30 FEET ALONG THE EAST BOUNDARY LINE OF THE LANDS DESCRIBED IN THE DEEDS FILED AS INSTRUMENT No. 21613412, No. 21208953 AND No. 21515936 TO THE NORTHEAST CORNER OF THE LANDS DESCRIBED IN DEED INSTRUMENT No. 21515936; THENCE S 80°12’00” W 102.11 FEET ALONG THE NORTH BOUNDARY LINE OF THE SAID LANDS DESCRIBED IN DEED INSTRUMENT No. 21515936; THENCE S 00°01’54” W 206.49 FEET ALONG THE WEST BOUNDARY THE LANDS DESCRIBED IN THE DEEDS FILED AS INSTRUMENT No. 21613412, No. 21208953 AND No. 21515936 TO THE POINT OF BEGINNING. LESS THAN AND EXCEPTING PARCEL 10: CHUBBUCK MAVERICK SUBDIVISION FILED AS INSTRUMENT No. 21311667, SGK SUBDIVISION FILED AS INSTRUMENT No. 21814866 AND THE LANDS DESCRIBED IN THE DEEDS FILED AS INSTRUMENT No. 20212165, No. 22219236, No. 21910421, No. 97017318, No. 20500396, AND A PORTION OF No. 22208722 BEING FURTHER DESCRIBED AS FOLLOWS: COMMENCING THE SOUTHWEST CORNER OF CHUBBUCK MAVERICK SUBDIVISION FILED AS INSTRUMENT No 21311667 POINT ALSO BEING THE POINT OF BEGINNING; THENCE S 44°51’11” E 33.10 FEET ALONG THE SOUTHWEST BOUNDARY LINE OF CHUBBUCK MAVERICK SUBDIVISION FILED AS INSTRUMENT No 21311667; THENCE S 89°20’07” E 304.43 FEET ALONG THE SOUTH BOUNDARY LINE OF CHUBBUCK MAVERICK SUBDIVISION FILED AS INSTRUMENT No 21311667 AND ALONG THE SOUTH BOUNDARY LINE OF THE LAND DESCRIBED IN THE DEED FILED AS INSTRUMENT No 22208722 TO THE SOUTHEAST CORNER OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT No 22208722; THENCE N 00°44’08” E 288.25 FEET ALONG THE EAST BOUNDARY LINE OF THE LAND DESCRIBED IN THE DEED FILED AS INSTRUMENT No 22208722 TO THE NORTHEAST CORNER OF THE LAND DESCRIBED IN THE DEED FILED AS INSTRUMENT No 22208722; THENCE N 89°17’55” W 135.52 FEET ALONG THE NORTH BOUNDARY OF THE LAND DESCRIBED IN THE DEED FILED AS INSTRUMENT No 22208722 TO THE NORTHEAST CORNER OF CHUBBUCK MAVERICK SUBDIVISION FILED AS INSTRUMENT No 21311667; THENCE N 00°35’38” W 141.03 FEET ALONG THE EAST BOUNDARY LINE OF THE LAND DESCRIBED IN THE DEED FILED AS INSTRUMENT No 20500396, AND THE EAST BOUNDARY LINE OF SGK SUBDIVISIONS FILED AS INSTRUMENT No 21814866 TO THE SOUTHWEST CORNER OF THE LAND DESCRIBED IN THE DEED FILED AS INSTRUMENT No 97017318; THENCE ALONG THE BOUNDARY OF THE LANDS DESCRIBED IN DEED FILED AS INSTRUMENT No. 97017318 FOR THE FOLLOWING FOUR (4) COURSES: 1) S 89°27’33” E 73.00 FEET; 2) N 00°04’10” E 37.10 FEET; Page 16 of 17 3) S 89°26’28” E 82.00 FEET; 4) N 00°04’13” E 104.00 FEET; THENCE N 89°10’11” E 34.85 FEET ALONG THE NORTH BOUNDARY LINE OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT No 20827117; THENCE N 00°06’06” E 469.05 FEET CROSSING LINDED AVENUE AND ALONG THE WEST SIDE OF THE LANDS DESCRIBED IN THE DEEDS FILED AS INSTRUMENT No’s 20502051 AND 20308481 TO THE NORTHWEST CORNER OF THE LAND DESCRIBED IN THE DEED FILED AS INSTRUMENT No 20308481; THENCE ALONG THE NORTH BOUNDARY LINE OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT No 20212165 FOR THE NEXT TWO (2) COURSES: 1) N 82°00’08” W 92.08 FEET; 2) N 81°59’23” W 294.63 FEET TO THE SOUTHWEST CORNER OF RITE AID KEYBANK COMMERCIAL SUBDIVISION FILED AS INSTRUMENT No 98013442; THENCE ALONG THE EAST RIGHT-OF-WAY LINE OF YELLOWSTONE AVENUE FOR THE NEXT THREE (3) COURSES: 1) S 00°04’12” W 470.40 FEET; 2) S 00°11’06” W 49.80 FEET; 3) S 00°10’21” W 546.75 FEET TO THE POINT OF BEGINNING. LESS THAN AND EXCEPTING PARCEL 11: LANDS DESCRIBED IN THE DEEDS FILED AS INSTRUMENT No. 22301528, No. 22205950, No. 2205951 AND No. 22205952 BEING FURTHER DESCRIBED AS FOLLOWS: COMMENCING AT THE SOUTHWEST CORNER OF THE LANDS DESCRIBED IN DEED INSTRUMENT No. 22301528, ALSO BEING POINT OF BEGINNING; THENCE ALONG THE NORTH BOUNDARY LINE OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT No. 22209951 FOR THE NEXT FIVE (5) COURSES: 1) S 72°00’25” E 90.40 FEET; 2) S 88°49’17” E 62.30 FEET; 3) S 01°24’12” W 58.69 FEET; 4) S 37°52’30” E 112.94 FEET; 5) S 89°22’48” E 159.34 FEET TO A POINT ON THE WEST RIGHT-OF-WAY OF ZEBE AVENUE; THENCE N 00°37’12” E 367.81 FEET ALONG THE WEST RIGHT-OF-WAY LINE OF ZEBE AVENUE TO A POINT ON THE EAST BOUNDARY LINE OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT No. 22301528; THENCE N 43°54’33” W 28.32 FEET ALONG THE NORTHEAST BOUNDARY LINE OF THE LANDS DESCRIBED IN THE DEED FILED AS INSTRUMENT No. 22301528 ALSO BEING THE SOUTH BOUNDARY OF THE LANDS DESCRIBED IN DEED FILED AS INSTRUMENT No. 21818010 TO A POINT ON THE NORTH BOUNDARY LINE OF THE LANDS DESCRIBED IN THE DEED FILED AS Page 17 of 17 INSTRUMENT No. 22301528 ALSO BEING THE START OF A NON-TANGENT CURVE TO THE RIGHT; THENCE 144.43 FEET ALONG SAID NON-TANGENT CURVE TO THE RIGHT (CURVE DATA: RADIUS = 433.90 FEET, DELTA = 19°04’19”, CHORD = N 79°18’11” W 143.77, FEET) TO A POINT ON THE SOUTH RIGHT-OF-WAY LINE OF KNUDSEN BOULEVARD; THENCE N 70°13’17” W 159.09 FEET ALONG THE SOUTH RIGHT-OF-WAY LINE OF KNUDSEN BOULEVARD TO THE NORTHEAST CORNER OF WDG KNUDSEN MULTIFAMILY SUBDIVISION FILED AS INSTRUMENT No 22307413; THENCE ALONG THE EAST BOUNDARY LINE OF WDG KNUDSEN MULTIFAMILY SUBDIVISION FILED AS INSTRUMENT No 22307413 FOR THE NEXT THREE (3) COURSES: 1) S 17°10’47” W 46.99 FEET; 2) S 01°21’21” E 85.58 FEET; 3) S 19°40’10” W 169.39 FEET TO THE POINT OF BEGINNING. Attachment 3 Private Properties Which May Be Acquired by the Agency The Agency has not identified any particular parcel to be acquired for the construction of public improvements or for private redevelopment. Properties which may be subject to acquisition include parcels to: a) assemble with adjacent parcels to facilitate redevelopment; b) assemble with adjacent rights-of-way to improve configuration and enlarge parcels for redevelopment; C) reconfigure sites for development and possible extension of streets or pathways; d) assemble for future transfer to qualified developers to facilitate the development of mixed-use, residential, commercial, office, retail and industrial projects; or e) assemble for the construction of certain public improvements, including but not limited to streets, streetscapes, water and sewer improvements, environmental remediation/site preparation, public parking, community facilities, parks, pedestrianibike paths and trails, and other public facilities. 2. The Agency reserves the right to acquire any additional right-of-way or access routes near or around existing or planned rights-of-way. 3. The Agency reserves the right to acquire property needed to provide adequately sized sites for high priority projects for the development of public improvements (the exact location of which has not been determined). 4. Other parcels may be acquired for the purpose of facilitating catalyst or demonstration projects, constructing public parking, constructing new streets or pathways, enhancing public spaces, or to implement other elements of the urban renewal plan strategy and/or any master plan for the Project Area. Attachment 4 Map Depicting Expected Land Uses and Current Zoning Map of the Project Area [To be Inserted Upon Completion] CHUBBUCK URBAN RENEWAL EXHIBIT CURRENT ZONING THE CITY OF CHUBBUCK, BANNOCK COUNTY, IDAHO 0 150 300 600 ( IN FEET ) I inch = 300 ft. I FrFNn BOUNDARY CURRENT DEEDS / PLAT LINES HIGHWAY CORRIDOR (HC) PLANNED UNIT DEVELOPMENT (PUD) DENSE RESIDENTIAL (R-4) INDUSTRIAL (1) AGRICULTURE (A) LIMITED RESIDENTIAL (R-2) LIMITED COMMERCIAL (C-1) VILLAGE (V) GENERAL COMMERCIAL (C-2) 0 150 300 600 ( IN FEET ) I inch = 300 ft. CENTRAL WAY 1 Cr±CAIP1 BOUNDARY CURRENT DEEDS / PLAT LINES MIXED USE MEDIUM DENSITY COMMERCIAL VILLAGE HIGHWAY HIGHWAY DENSITY EMPLOYMENT CHUBBUCK URBAN RENEWAL EXHIBIT FUTURE PLANNING THE CITY OF CHUBBUCK, BANNOCK COUNTY, IDAHO Attachment 5 Economic Feasibility Study Attachment 5 Yellowstone Corridor Urban Renewal District Economic Feasibility Study Background In 2024, the Chubbuck City Council and the Urban Renewal Agency of the City of Chubbuck, Idaho, also known as Chubbuck Development Authority (CDA) contracted with the Urban Land Institute (ULI) to develop a Technical Advisory Report (TAR). The TAR reviewed the Yellowstone Avenue corridor and surrounding area, including Chubbuck Village east of Yellowstone Avenue. The recommendations of the TAR included the creation of an urban renewal area for the Village, West Village, and Yellowstone Avenue areas. City staff developed a boundary that included these recommendations as well as the Legacy Park development and several other areas of developable land (collectively, referred to as the "Yellowstone Corridor Area". The Yellowstone Corridor Area was the subject of an eligibility report which determined the area was eligible to become an urban renewal area under Idaho Statutes. The eligibility report was accepted by resolution by the CDA on May 20, 2025. The City Council adopted the report on June 4, 2025, and authorized the development of an urban renewal plan and creation of a revenue allocation area (the "Project Area") for the Yellowstone Corridor Area. The boundaries of the Yellowstone Corridor Project Area are shown on Map 1. The purpose of this economic feasibility study is to determine whether tax increment revenues from anticipated development within the proposed Yellowstone Corridor Area will be sufficient to cover the costs of public improvements and other eligible expenses. This report relies on information provided by private developers as well as data provided by staff at the City of Chubbuck and Bannock County. This data was used to create projected revenues, expenses, and overall cash flow for the life of the urban renewal district. These projections are shown in a series of tables, followed by a brief analysis of the Project Area's economic feasibility. Map 1: Yellowstone Corridor Project Area Project Area and Description The Yellowstone Corridor Project Area is located generally north of I-86, south of New Day Parkway/Siphon Road, west of the Union Pacific rail line and east of Hawthorne Road. It encompasses over 400 parcels and approximately 400 acres. Most of the Project Area is already developed, although there are several large areas of open, undeveloped parcels as well as several pockets of infill sites within existing developments. The larger open areas include land in Legacy Park, lands on either side of Knudsen Boulevard, and north of West Linden Avenue. The area around City Hall also has nearly 15 acres of vacant land in the vicinity. Besides vacant parcels, there are also sites which are underutilized and could be redeveloped to other uses. These mainly include storage yards for equipment and materials. The Project Area and surrounding lands have seen significant growth and change over the past few decades. During that time, major commercial development has occurred south of I-86 in both Chubbuck and Pocatello. There has also been significant development and change along the Yellowstone Corridor north of I-86 and Chubbuck Road. Some of the most recent development has occurred within the Project Area, including a new 200 -unit apartment complex on the south side of Knudsen Boulevard, west of Yellowstone Avenue. Several other projects are planned within the area, including a small commercial building on Burnside Avenue, another commercial building in Legacy Park, and townhomes and apartments also within Legacy Park. 2 O City Limits e�dar Rr Local — Collector —Minor_Arterial e Major_Arterial o Freeway W. Ay vex' - Park, .. ....... d New URB 6_25_2W5 _ D -'> r�:•-, Ciubb-. I__ Rd i If 0.� 1 2 Miles Map 1: Yellowstone Corridor Project Area Project Area and Description The Yellowstone Corridor Project Area is located generally north of I-86, south of New Day Parkway/Siphon Road, west of the Union Pacific rail line and east of Hawthorne Road. It encompasses over 400 parcels and approximately 400 acres. Most of the Project Area is already developed, although there are several large areas of open, undeveloped parcels as well as several pockets of infill sites within existing developments. The larger open areas include land in Legacy Park, lands on either side of Knudsen Boulevard, and north of West Linden Avenue. The area around City Hall also has nearly 15 acres of vacant land in the vicinity. Besides vacant parcels, there are also sites which are underutilized and could be redeveloped to other uses. These mainly include storage yards for equipment and materials. The Project Area and surrounding lands have seen significant growth and change over the past few decades. During that time, major commercial development has occurred south of I-86 in both Chubbuck and Pocatello. There has also been significant development and change along the Yellowstone Corridor north of I-86 and Chubbuck Road. Some of the most recent development has occurred within the Project Area, including a new 200 -unit apartment complex on the south side of Knudsen Boulevard, west of Yellowstone Avenue. Several other projects are planned within the area, including a small commercial building on Burnside Avenue, another commercial building in Legacy Park, and townhomes and apartments also within Legacy Park. 2 In addition to the private development projects, there are public infrastructure needs throughout the Project Area. These include essential utility projects needed to support future growth such as new and upgraded lift stations, water lines and fire hydrants as well as transportation improvements such as widened roads and intersections and the installation of traffic signals. There are also projects which are non-essential to support growth, but which are key components in the City's efforts to implement its vision for the community. These include medians and landscaping in and along Yellowstone Avenue to improve aesthetics and walkability, and an overall improved bicycle and pedestrian network throughout the Project Area. Finally, there is a general need throughout the Project Area for street improvements such as asphalt repairs, installation of curb, gutter, and sidewalk on several streets, and connection of gaps in roadways. In the typical development process, certain public infrastructure necessary to support new construction is built and paid for (at least in part) by the developer. That would likely be the case for several of the needs within the Project Area. In other situations, larger public projects that serve not only a specific development, but also a broader region or corridor, such as Yellowstone Avenue improvements or a regional sewer lift station, demand a public-private partnership to share in the cost and responsibility to construct. These types of projects are also prevalent within the Project Area. This study reviews the anticipated public projects along with their costs and potential start dates compared with the projected tax increment revenues to the CDA through private development. These data points along with several assumptions outlined with each table in the report will evaluate if the revenues will be sufficient to cover the costs of the projects. It is important to emphasize that these are projections and future conditions may change which will affect both revenues and expenses. It is anticipated that the urban renewal district will be in place for the 20 -years allowed by Idaho statute. This would not preclude the CDA and City Council from closing the district earlier if desired. Summary of Findings: The Yellowstone Corridor Project Area is estimated to generate approximately $50-72 million in tax increment revenues over its 20 -year lifespan based on the assumptions outlined in the Study Approach section below. Total potential projects are estimated to cost $195 million, including estimated escalation. Although it is unlikely tax increment revenues on their own will be able to fund all potential projects, there are many priority projects which can be funded. For any private projects, such as Legacy Park, which will advance fund eligible public infrastructure improvements subject to reimbursement of certain eligible public project expenditures pursuant to an owner participation agreement (OPA), there should be sufficient funds for repayment, although developer requests for CDA participation should be evaluated prior to entering into an agreement. The Yellowstone Corridor Project Area Will Generate Sufficient Tax Increment Revenues to Fund the Top Priority Projects. 3 Study Approach Project Area Boundaries The Project Area boundaries for this study are smaller than what was shown in the eligibility report in order to comply with Idaho Code Section 50-2903(15) which reads, in part: "The base assessment roll or rolls of revenue allocation area or areas shall not exceed at any time ten percent (10%) of the current assessed valuation of all taxable property within the municipality." The assessed values in the boundaries shown in the eligibility report were valued higher than the statutory limit. The consultant worked with CDA and City staff to reduce the boundary to comply with the statute while still capturing areas of greatest potential for development and the highest priority projects. A revised analysis of the 10% limitation requirement is included here to verify the Project Area's compliance. Table 1: Statutory Ten Percent Limitation Analysis II WEN I _ City of Chubbuck $1,596,414,274 Pine Ridge Mall District $27,112,636 Northside Crossing District $316,520 Harvest Springs District $421,674 Proposed Yellowstone Corridor Project Area $126,911,543 Total d:.se VaR- $154,162,373' Private and Public Projects This study reviewed private development projects within the Project Area in three different categories: • Projects which will receive their certificate of occupancy before December 31, 2025, that would still contribute to tax increment revenues if the urban renewal district is approved by City Council ordinance before December 31, 2025; • Projects which are currently in the entitlement process including, those that have been permitted, those which have been submitted to the City of Chubbuck for review and permitting, and those which are being discussed with the City but not yet submitted; and • Projected projects based on development patterns, local knowledge and assumptions. For the recently completed apartments on Knudsen, three of the five buildings were on the tax rolls as of January 1, 2025, and therefore will be included in the base value. The other two buildings are expected to be added to the tax rolls in January 2026. Revenues for these projects will not be collected until 2027. For projects currently in the entitlement process, revenues were assumed to be added two years after the anticipated completion of the project. This is the same El method used for projected projects, but without the advantage of firm completion dates. Valuations for private projects were based on interviews with developers, existing Bannock County valuation data, and data extrapolation from current projects. It is important to note that for projects which would likely be phased such as a multi -family apartment complex or small commercial buildings on a particular street, the study assumed that taxable value would also be added in phases. For example, if an apartment complex was assumed to be completed in three phases, or over the course of three years, one-third of the total value generated tax increment revenues two years after completion of the first phase or first year of the project. Also, project values were calculated in 2025 dollars and there was no attempt to account for cost escalation due to inflation. For public infrastructure projects eligible for tax increment expenditures, projects were taken from several sources: • Projects identified by Chubbuck City staff as known needs • Projects identified in the ULI TAR • Projects from the comprehensive plan • Potential projects generated by other development or priorities Potential projects were then sorted into the following categories: • Utility Infrastructure • Street Infrastructure • Streetscape and Active Transportation Projects • Site Preparation and Development • Public Spaces and Amenities • Acquisition and Financing Each included a working list of potential projects and estimated costs. Some of the costs were based on actual bids from the City of Chubbuck, others utilized this data for similar projects and artificial intelligence (AI) to estimate costs, and others were placeholders and not tied to data. The working list of projects used for this study are shown in Table 2 below. This table also shows each project's value in 2025 dollars. Because numerous projects were anticipated to completed in phases, Table 3 was added to show the total anticipated increment from private investment per year with an assumed 5% annual escalation cost. 2025 and 2027 show no increment based on the timing between project completion and taxable increment value being added to the tax roll. 2046 was not included in this table because the district is anticipated to close December 31, 2045 and no new increment will be added after that date. 2046 is included in other tables because 2045 revenues will still be collected and spent in that year. Table 2 outlines the private new development projects used to project tax increment revenues for this study. As noted above, these represent a range of projects from recently completed to projected projects. The project number corresponds with Map 2, which shows roughly where the projects are anticipated to take place, recognizing that project siting and prioritization may shift based on new development timing and available funds. Table 2: Private Development Projects Project 1 -Knudsen Name and Number Apartments Location 7Estimated Knudsen New �i V. Values Using Estimated Start ir Estimate Finish $28,000,000 NA 2025 2 -Commercial Building W. Burnside $2,000,000 2025 2026 3 -CDA Project Site Village $1,300,000 2025 2026 4 -Commercial Building Legacy Park $1,300,000 2025 2026 5 -Apartments Legacy Park $12,600,000 2025 2026-2028 6-Townhomes Legacy Park $14,400,000 2026 2026-2028 7 -Apartments Legacy Park $18,720,000 2028 2028-2030 8 -Future A artments Legacy Park $5,400,000 2028 2028-2030 9 -Commercial, 6 Lots Legacy Park $9,000,000 2026 2026-2032 10 -Stora e Units Legacy Park $1,600,000 2028 2029 11 -Commercial, 12 acres Legacy Park $19,200,000 2029 2030-2036 12 -Multi -family, 7.5 acres Mingo (south) $22,000,000 2032 2032-2035 13 -Single-family, 5.3 acres Lisa/Adams $7,000,000 2033 2033-2043 14-Townhomes, 3 acres Adams/Park Lawn $9,600,000 2035 2035-2038 15 -Commercial, 9 Lots Laurel/Valen /Ward $13,500,000 2029 2029-2042 16 -Multi -family, 7 acres W. Linden $22,000,000 2036 2036-2040 17 -Multi -family, 3.5 acres Knudsen (north) $8,000,000 2029 2029-2032 18 -Commercial pads Knudsen/Afton $4,000,000 2029 2030-2032 19 -Multi -family Knudsen north $28,000,000 2035 2035-2038 20 -Commercial, 10 acres Knudsen (north) $12,500,000 2035 2035-2040 21 -Multi -family Knudsen south $18,000,000 2038 2038-2042 22 -Commercial, 10 acres Knudsen (south) $12,500,000 2030 2030-2040 23-Commercial/Office, 2.6 acres Village $3,000,000 2028 2029 24-Commercial/Office, 2.1 acres Village $2,500,000 2029 2030 25 -Redevelopment, multi- family 2.5 acres East of Burley $7,000,000 2032 2035 26 -Multi -family, 5 acres East of Stuart $9,000,000 2031 2034 Total $292,120,000 Legend — Study Area Apartments, Multi -Family, 0 Commercial, Office, CSingle Family & Townhomes & Storage Units Map 2: Potential Private Development Projects A Table 3: Annual Increment Added with Escalation 2025 2026 $ 17,322,223.00 2027 2028 $ 17,232,075.00 2029 $ 12,502,350.00 2030 $ 21,397,772.03 2031 $ 20,543,666.17 2032 $ 26,888,592.64 2033 $ 22,249,327.72 2034 $ 30,451,364.05 2035 $ 24,400,629.96 2036 $ 25,620,661.46 2037 $ 43,483,434.61 2038 $ 40,283,506.29 2039 $ 36,867,012.07 2040 $ 46,194,504.12 2041 $ 27,985,208.20 2042 $ 29,384,468.61 2043 $ 12,515,982.75 2044 $ 13,141,781.89 2045 $ 1,688,462.18 Total $ 470,153,022.75 Table 4 outlines the anticipated public projects within the Project Area and their estimated costs. Potential timing is addressed in later tables. As noted above, the estimated costs are a blend of projects which have been designed and estimated, extrapolated data, and simple placeholders. These project costs were also analyzed with 5% escalation costs, but doing so required an estimated completion year. As will be explained later in the report, a revenue range was utilized which meant that projects could be completed in different years based on anticipated revenues. Variations in completion years meant a variation in the estimated costs. For purposes of this report, there is not an equivalent to Table 3 for public projects. Rather, Tables 9 and 11 show only priority project costs with escalation based on each revenue model and respective project completion years. Table 4: Public Projects and Estimated Costs iRMITM Utility Infrastructure Projects U size Hydrants Legacy Park $202,000 Replace and Upgrade Lift Station Valenty $2,100,000 Additional Utilities to Support Future Development Throughout District $2,000,000 Street Infrastructure Projects Traffic Signal Chubbuck/Burley $650,000 Traffic Signal Yellowstone/Park Lawn $650,000 Add Turn Lane Yellowstone/Park Lawn $250,000 Widen and Realign Intersection Chubbuck/Yellowstone $10,000,000 Intersection Improvements/Add Turn Lane Yellowstone/Knudsen/Evans $10,000,000 Curb, Gutter, Sidewalk, Paving Valen /Ward $450,000 Curb, Gutter, Sidewalk, Paving Briscoe $1,500,000 Curb, Gutter Sidewalk, Paving West Linden/Afton Road $1,000,000 Additional Roads to Support Future Development Throughout District $2,000,000 Siphon Road Widening Siphon from Yellowstone to Stuart $10,000,000 Streetscape and Active Transportation Projects Center Landscape Islands Yellowstone $1,500,000 Widen Sidewalks Yellowstone $10,000,000 Widen Sidewalks Chubbuck Road $10,000,000 Signage and Wayfinding Throughout District $1,000,000 Lighting Improvements Throughout District $2,000,000 Gateway Treatments and Enhancements New Da /Yellowstone $1,000,000 Site Preparation and Development Studies Related to Parking and Land Use Throughout District $250,000 Environmental Cleanup Assistance Throughout District $100,000 Public -Private Partnership and Development Opportunities Throughout District $1,000,000 Building Demolition Throughout District $300,000 Site Remediation Projects Throughout District $1,000,000 Public Spaces and Amenities Infrastructure Around City Hall to Support Food Truck Court City Hall Area $500,000 Community Event Space City Hall Area $100,000 Parking Infrastructure Throughout District $5,000,000 Public Spaces: Plazas, Parks, Etc. Throughout District $2,500,000 Building Facade Improvement Program Throughout District $1,000,000 Acquisition and Financing Throughout District Leverage Other Funding Sources Throughout District $1,000,000 Property Acquisition Throughout District $3,000,000 Cross -Access Agreement and Easement Acquisition Throughout District $250,000 Total $82,702,000 Revenues, Expenses, and Cash Flow The tables in this study include reviews of anticipated revenues for the Yellowstone Corridor Project Area. Those are followed by anticipated cash flow for the Project Area. Each table relies on assumptions regarding project timing, property valuations, and tax levies. In a review of historical tax levy and property valuation data, patterns are divided between pre- and post -2018, with wide variations after COVID-19. Between 2014 and 2018, the annual levy averaged 1.28% annual growth and valuations rose 3.39% per year. In contrast, between 2019-2024, levies averaged an annual -8.12% drop, due in part to annual 17.69% average increases in valuation during this same period. Graphs depicting historic changes are included on the following page. These variations make building a predictable model challenging. To try to account for the potential variations of change in levies and valuations, this study used two revenue models. The first assumed a conservative 2% annual property valuation increase and an annual 1% decrease in the levy. The second, higher end estimate assumes a 5% growth in valuation and a 1% increase in the levy, which is more consistent with pre-COVID-19 patterns. However, this was also before the Idaho Legislature adopted House Bill 389 in 2021, which put restrictions on how much property values and municipal budgets can increase per year. This provides a range of potential revenues for the Project Area. The subsequent cash flow tables which review revenues to expenses consider both options. The tables are followed by an analysis of the findings. Because the list of potential project costs exceeds anticipated revenues, for purposes of this study and determining feasibility, projects were prioritized based on discussion during a joint meeting of the CDA and City Council. In that meeting, Yellowstone Avenue was identified as a priority, including traffic signals, turn lanes and landscaped medians. Widening Siphon Road was also noted as a priority along with other projects that the CDA and City Council believe are more accessible and achievable. This study used this general guidance to assign priority to projects from the list above. Priorities were then assigned to various tranches of funding based on accumulated revenues. These are shown in Tables 9 and 11, reflecting the respective revenue assumptions. As noted previously, many of the projects should be funded even with the conservative revenue approach. Additional projects may be funded if revenues are more closely aligned with the high revenue model. Funding for any projects will depend on actual performance of tax increment revenues. It is important to note that this is a projection based on known data and reasonable development scenarios for the purposes of this study and should not be viewed as a definitive priority list or financing strategy. 10 0.02 0.018 0.016 0.014 0.012 0.01 0.008 0.006 0.004 0.002 0 Levy Rate O .i N m .zl- m to Il W m o c -i N m lzt m to Il m m o c -i N m lzt O O O O o O O O O o ri c -I rI c -I c -I c -I c -I .i .--i c -I N N N N N O O O O o O O O O O o o O O O O o O O O O O o o O N N N N N N N N N N N N N N N N N N N N N N N N N $1,800,000,000.00 $1,600,000,000.00 $1,400,000,000.00 $1,200,000,000.00 $1,000,000,000.00 $800,000,000.00 $600,000,000.00 $400,000,000.00 $200,000,000.00 City Valuation 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 City Valuation 11 Table 5 is a list of currently available levy rates for all parcels in the Project Area. These reflect the 2024 rates as the 2025 levy rates had not been certified as of the writing of this report. These rates were provided by the Bannock County Assessor's Office. These levies are the taxable rate per $1.00 of assessed property value. Due to changes in the Idaho Statutes passed in 2025, the Ambulance district levy is not accounted for. This is a conservative assumption that CDA will not go through the steps to request the district to opt into the Project Area. Table 5: Current Applicable Levy Rates Taxing Bannock County .003109503 Bannock County Road & Bride .000266091 Chubbuck Cit .006224284 School District No. 25 NA Ambulance NA Portneuf Free Libra .000383328 Abatement .000019959 Total 0.010250535 12 Assumptions for Table 6: Yellowstone Corridor Project Area Conservative Revenues 1. Total valuation is assumed to increase 2% per year. 2. Applicable tax levy is assumed to decrease I% per year. 3. Years listed in the table are calendar years, not fiscal years. Revenues shown in tax year 2026, for example, will be collected in calendar year 2027. 4. Revenues for 2045 taxes will be collected and spent in 2046. Table 6: Yellowstone Corridor 2025' $_126,911,543 2026 $126,911,543 2027 $126,911,543 2028 $126,911,543 2029 $126,911,543 2030 $126,911,543 2031 $126,911,543 2032 $126,911,543 2033 $126,911,543 2034 $126,911,543 2035 $126,911,543 2036 $126,911,543 2037 $126,911,543 2038 $126,911,543 2039 $126,911,543 2040 $126,911,543 2041 $126,911,543 20421 $126,911,543 2043 $126,911,543 2044 $126,911,543 2045 $126,911,543 2046 $126,911,543 $ 126,911,543 $ 146,771,997 $ 149,707,437 $ 169,933,661 $ 185,834,684 $ 210,949,149 $ 235,711,799 $ 267,314,627 $ 294,910,247 $ 331,259,816 $ 362,285,643 $ 395,152,017 $ 446,538,492 $ 495,752,768 $ 542,534,836 $ 599,580,036 $ 639,556,845 $ 681,732,451 $ 707,883,083 $ 735,182,526 $ 751,574,639 $1,236,759,154 $ 19,860,454 $ 22,795,894 $ 43,022,118 $ 58,923,141 $ 84,037,606 $ 108,800,256 $ 140,403,084 $ 167,998,704 $ 204,348,273 $ 235,374,100 $ 268,240,474 $ 319,626,949 $ 368,841,225 $ 415,623,293 $ 472,668,493 $ 512,645,302 $ 554,820,908 $ 580,971,540 $ 608,270,983 $ 624,663,096 $1,109,847,611 ection 0.0102505351 $ - 0.010149045 $ - 0.010048559 $ 201,564.63 0.009949068 $ 229,065.88 0.009850563 $ 428,029.98 0.009753032 $ 580,426.09 0.009656468 $ 819,621.49 0.009560859 $ 1,050,626.15 0.009466197 $ 1,342,374.10 0.009372472 $ 1,590,308.85 0.009279676 $ 1,915,248.55 0.009187798 $ 2,184,195.29 0.009096829 $ 2,464,539.19 0.009006762 $ 2,907,591.81 0.008917586 $ 3,322,065.03 0.008829293 $ 3,706,356.40 0.0087418741 $ 4,173,328.59 0.008655321 $ 4,481,480.74 0.008569625 _$ 4,802,153.05 0.0084847771 $ 4,978,708.08 0.008400769 $ 5,161,043.63 0.008317593 $ 5,247,650.54 $ 201,564.63 $ 430,630.51 $ 858,660.50 $ 1,439,086.59 $ 2,258,708.08 $ 3,309,334.23 $ 4,651,708.33 $ 6,242,017.18 $ 8,157,265.73 $10,341,461.02 $12,806,000.21 $15,713,592.02 $19,035,657.05 $ 22,742,013.45 $26,915,342.05 $ 31,396,822.79 $ 36,198,975.84 $41,177,683.91 $46,338,727.54 $51,586,378.09 13 Assumptions for Table 7: Yellowstone Corridor Project Area Revenues, High Projection 1. Total valuation is assumed to increase 5% per year. 2. Applicable tax levy is assumed to decrease I% per year. 3. Years listed in the table are calendar years, not fiscal years. Revenues shown in tax year 2026, for example, will be collected in calendar year 2027. 4. Revenues for 2045 taxes will be collected and spent in 2046. Table 7: Yellowstone Corridor 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 W .--" .'- $126,911,543 $126,911,543 $126,911,543 $126,911,543 $126,911,543 $126,911,543 $126,911,543 $126,911,543 $126,911,543 $126,911,543 $126,911,543 $126,911,543 $126,911,543 $126,911,543 $126,911,543 $126,911,543 $126,911,543 $126,911,543 $126,911,543 $126,911,543 $126,911,543 $ 126,911,543 $ 150,579,343 $ 158,108,310 $ 183,245,801 $ 204,910,441 $ 236,553,735 $ 268,925,088 $ 309,259,935 $ 346,972,259 $ 394,772,236 $ 438,911,478 $ 486,477,714 $ 554,285,034 $ 622,282,792 $ 690,263,943 $ 770,971,645 $ 837,505,435 $ 908,765,176 $ 966,719,417 $1,028,197,170 $1,081,295,490 $1,605,513,288 $ 23,667,800 $ 31,196,767 $ 56,334,258 $ 77,998,898 $ 109,642,192 $ 142,013,545 $ 182,348,392 $ 220,060,716 $ 267,860,693 $ 311,999,935 $ 359,566,171 $ 427,373,491 $ 495,371,249 $ 563,352,400 $ 644,060,102 $ 710,593,892 $ 781,853,633 $ 839,807,874 $ 901,285,627 $ 954,383,947 $1,478,601,745 0.010250535' $ 0.010149045 $ 0.010048559 $ 0.009949068 $ 0.009850563 $ 0.009753032 $ 0.009656468 $ 0.009560859 $ 0.009466197 $ 0.009372472 $ 0.009279676 $ 0.009187798 $ 0.009096829 $ 0.009006762 $ 0.008917586 $ 0.008829293 $ 0.008741874 $ 0.008655321 $ 0.008569625 $ 0.008484777 $ 0.008400769 $ 0.008317593 $ 240,205.56 313,482.56 560,473.38 768,333.03 1,069,343.84 1,371,349.20 1,743,407.28 2,083,138.11 2,510,516.95 2,895,258.19 3,303,621.21 3,887,743.71 4,461,690.80 5,023,743.41 5,686,595.31 6,211,922.41 6,767,194.15 7,196,838.33 7,647,207.53 8,017,559.34 240,205.56 553,688.11 1,114,161.49 1,882,494.52 2,951,838.37 4,323,187.57 6,066,594.84 8,149,732.96 10,660,249.90 13,555,508.09 16,859,129.31 20,746,873.02 25,208,563.82 30,232,307.23 35,918,902.54 42,130,824.95 48,898,019.10 56,094,857.43 63,742,064.96 71,759,624.31 14 Assumptions for Table 8: Yellowstone Corridor Project Area Cash Flow with Conservative Revenue 1. Assumptions for revenues and valuations are the same as Table 6. 2. Tranches of funding based on estimated costs of public projects. 3. Does not specifically account for potential Owner Participation Agreements. 4. CDA will collect 10% of revenues for district administration up to a maximum of $100,000 annually. 5. All funds will be expended on projects Area Cash Flow with Conservative Revenue 2025 $ 2026 $ 2027 $ 201,565 $ 20,156 $ 181,408 $ 181,408-1 2028 $ 229,066 $ 22,907 $ 206,159 $ 387,5671 2029 $ 428,030 $ 42,803 $ 385,227 $ 772,794 2030 $ 580,426 $ 58,043 $ 522,383 $ 1,295,178 1 2031 $ 819,621 $ 81,962 $ 1,476,785 $ (739,126) $ 556,052 2032 $ 1,050,626 $ 100,000 $ 950,626 $ 1,506,678 1 2033 $ 1,342,374 $ 100,000 $ 1,242,374 $ 2,749,0531 2034 $ 1,590,309 $ 100,000 $ 3,025,090 $ (1,534,781) $ 1,214,271 1 2035 $ 1,915,249 $ 100,000 $ 2,606,231 $ (790,982) $ 423,289) 2036 $ 2,184,195 $ 100,000 $ 2,084,195 $ 2,507,484 1 2037 $ 2,464,539 $ 100,000 $ 2,364,539 $ 4,872,0231 2038 $ 2,907,592 $ 100,000 $ 7,071,184 $ (4,263,592) $ 608,431 1 2039 $ 3,322,065 $ 100,000 $ 3,222,065 $ 3,830,496 2040 $ 3,706,356 $ 100,000 $ 6,548,624 $ (2,942,268) $ 888,229 1 2041 $ 4,173,329 $ 100,000 $ 3,274,312 $ 799,017 $ 1,687,245) 2042 $ 4,481,481 $ 100,000 $ 4,381,481 $ 6,068,726 1 2043 $ 4,802,153 $ 100,000 $ 4,702,153 $ 10,770,879 2044 $ 4,978,708 $ 100,000 $ 4,878,708 $ 15,649,587 2045 $ 5,161,044 $ 100,000 _ $ 5,061,044 $ 20,710,631 2046 $ 5,247,651 $ 100,000 $ 25,858,281 $ (20,710,630) $ 0 1 15 Table 9: Potential Tranche Funding with Conservative Revenue 16 2031 Tranche 1 $1,476,785 Yellowstone/Park Lawn Traffic Light $871,062 Yellowstone/Park Lawn Turn Lane $335,024 Legacy Park Hydrants $270,699 2034 Tranche 2 $3,025,090 Yellowstone Medians $2,326,992 Valent /Ward Street Improvements $698,098 2035 Tranche 3 $2,606,231 Linden/Afton Improvements $1,628,895 Food Truck Court $814,447 Event Space $162,889 2038 Tranche 4 $7,071,184 Valenty Lift Station $3,959,863 Chubbuck/Burley Traffic Light $1,225,672 Additional Roads Legacy Park $942,825 Additional Utilities Legacy Park $942,825 2040 Tranche 5 $6,548,624 Additional Roads Knudsen Area $2,182,875 Additional Utilities Knudsen Area $2,182,875 Additional Roads Village Area $1,091,437 Additional Utilities Village Area $1,091,437 2041 Tranche 6 $3,274,312 Briscoe Paving and Street Connection $3,274,312 2046 Tranche 7 $24,321,610 Siphon Widening $25,858,281 16 Assumptions for Table 10: Yellowstone Corridor Project Area Cash Flow with High Revenue 1. Assumptions for revenues and valuations are the same as Table 7. 2. Tranches of funding based on estimated costs of public projects. 3. Does not specifically account for potential Owner Participation Agreements. 4. CDA will collect 10% of revenues for district administration up to a maximum of $100,000 annually. 5. All funds will be expended on projects Table 10: Yellowstone Corridor Project Area Cash Flow with High Revenue 17 2026 $ - $ - $ - $ - I 2027 $ 240,206 $ 24,021 $ 216,185 $ 216,185 2028 $ 313,483 $ 31,348 $ 282,134 $ 498,3191 2029 $ 560,473 $ 56,047 $ 504,426 $ 1,002,745 2030 $ 768,333 $ 76,833 $ 691,500 $ 1,694,245 1 2031 $ 1,069,344 $ 100,000 $ 2,079,828 $ (1,110,484) $ 583,76 2032 $ 1,371,349 $ 100,000 $ 1,271,349 $ 1,855,1101 2033 $ 1,743,407 $ 100,000 $ 3,176,529 $ (1,533,122) $ 321,98 2034 $ 2,083,138 $ 100,000 $ 1,983,138 $ 2,305,127 1 2035 $ 2,510,517 $ 100,000 $ 4,398,015 $ (1,987,498) $ 317,628 2036 $ 2,895,258 $ 100,000 $ 2,795,258 $ 3,112,887 I 2037 $ 3,303,621 $ 100,000 $ 5,387,569 $ (2,183,948) $ 928,939 2038 $ 3,887,744 $ 100,000 $ 3,787,744 $ 4,716,683 2039 $ 4,461,691 $ 100,000 $ 4,949,829 $ (588,138) $ 4,128,544 2040 $ 5,023,743 $ 100,000 $ 4,923,743 $ 9,052,288 1 2041 $ 5,686,595 $ 100,000 $ 5,586,595 $ 14,638,883 2042 $ 6,211,922 $ 100,000 $ 6,111,922 $ 20,750,8051 2043 $ 6,767,194 $ 100,000 $ 24,066,192 $ (17,398,998) $ 3,351,808 2044 $ 7,196,838 $ 100,000 $ 7,096,838 $ 10,448,646 I 2045 $ 7,647,208 $ 100,000 $ 7,547,208 $ 17,995,854 2046 $ 8,017,559 $ 100,000 $ 25,913,413 $ (17,995,854) $ (0)1 17 Table 11: Potential Tranche Funding with High Revenue i Year Tranche Arno 2031 Tranche 1 $2,079,828 Yellowstone/Park Lawn Traffic Light $871,062 Yellowstone/Park Lawn Turn Lane $335,024 Legacy Park Hydrants $270,699 Valent /Ward Street Improvements $603,043 2033 Tranche 2 $3,176,529 Yellowstone Medians $3,176,529 Chubbuck/Burley Traffic Light $960,346 2035 Tranche 3 $4,398,015 Valenty Lift Station $3,420,679 Event S ace $162,889 Food Truck Court $814,447 2037 Tranche 4 $5,387,569 Additional Roads Legacy Park $897,928 Additional Utilities Legacy Park $897,928 Additional Roads Knudsen Area $1,795,856 Additional Utilities Knudsen Area $1,795,856 2039 Tranche 5 $4,949,829 Briscoe Paving and Street Connection $2,969,897 Additional Roads Village Area $989,966 Additional Utilities Village Area $989,966 2043 Tranche 6 $24,066,192 Siphon Widening $24,066,192 2046 Tranche 7 $25,917,295 Yellowstone/Chubbuck Intersection Improvements $25,913,413 Cash Flow Analysis Depending on the increase in assessed values over the twenty years of the Project Area, the timing of development and the annual levy rate, the project is anticipated to generated between approximately $50-72 million in tax increment revenues. The total of all potential public improvement costs is anticipated to be approximately $195 million. Although it is not likely tax increment revenues will be sufficient to cover all possible projects, it is economically feasible to cover the highest priority projects identified by the CDA and City Council. These entities will need to coordinate priorities regularly during the life of the Project Area. For some of the higher cost projects such as the widening of Siphon Road and intersection improvements on Yellowstone Avenue, funds may not be available until the final 5-7 years of the Project Area. Project prioritization may change and eligible projects shown Table 4 may be substituted for priority projects, or may be funded with available revenues, or through owner participation agreements. :. Limitations to the Feasibility Study This study is based on information provided by the CDA, City of Chubbuck and Bannock County. Any projects, revenues or expenses within this study may be modified by changes in estimated construction schedules, including project completion dates, the economy of the Chubbuck and Pocatello region, significant changes in the tax levies, and revisions to applicable legislation. The total project costs and potential tax increment revenues are estimates. Additionally, this report is intended to provide additional transparency into the proposed projected revenues and expenses for the duration of the Project Area. It is not intended to be an exhaustive list of proposed projects or potential development opportunities. 19 Attachment 6 Agricultural Operation Consents 4929-5434-9917, v. 3 AGRICULTURAL OPERATION CONSENT FORM COMES NOWyllV4-A�- ? UQ-- g -e:;- of Knudsen Poor Farms, Inc, and states that Knudsen Poor Farms, Inc, owns that certain property generally described as Parcel Identification Numbers RPRCYC2000102, RPRCY2000101, and RPRCYC1000500 in the real property records of Bannock County, Idaho, and more particularly described on Exhibit A attached hereto and incorporated herein by reference (the "Property"), and hereby certify: (1) that the Property has been used, within the last three (3) years, as an agricultural operation; and (2) that the undersigned have reviewed the materials provided in Exhibit B and have had an opportunity to review the urban renewal eligibility report entitled Study Area Eligibility Report, prepared by Brad Cramer, Perspective Planning & Consulting LLC and as attached hereto as Exhibit C. Further, Wil'I'lAo-IEus -P-F-. of Knudsen Poor Farms, Inc, hereby provides consent and approval that the subject Property may be included within a proposed urban renewal area and may be deemed appropriate for inclusion within an urban renewal project area as defined by the Idaho Urban Renewal Law of 1965, Chapter 20, Title 50, Idaho Code, as amended, and the Local Economic Development Act, Chapter 29, Title 50, Idaho Code, as amended, as the property possesses certain characteristics of eligibility. DATED this w day of August, 2025. Knudsen Poor Farms, Inc —a Name: Title: EXHIBIT A PARCEL NUMBERS: Parcel: RPRCYC2000102 a`3 x W6» ® Tanie CZ zoom,o Owner & land Information: ���■ �� Parcel Owner: KNUDSFN POOR FARMS INC 112 INT Legal Deseripticn: S10T&S-R34F +I TR LOT 1 TAX 2 11.45 AC ` BLOCK �� ■ YELLOWSTONE COMMONS 12 Approximate Acreage: 11.41 — ,1 Deed: 21403093 Old Deed: 21314037 Property/Building Information: l�F'SF Site Address: w1Y Year Built:0 Rooms & Square Footage: First Floor: Bedrooms: 606, Bathrooms: 0.00 -- Square footage: 0.00 Second Floor: ®� 1 Bedrooms: 6.00, Bathrooms: 0.00 Square footage: 0.00 Third Floor: i Bedrooms: 600, Bathrooms: 0.00 Square footage: 0.00 Basement: J Bedrooms: 0.00, Bathrooms: 0.00 - Square footage: 0.00 Garage: Type: Square footage: 0.00 Assessed Value: � �® V���1� Land Value: $ 3r870 DO Improvement Value: $ 0.00 Total Value: $ 3,870.00 Tax Information: Values shown may not reflect credits issued, refer r-1 to your tax hill for true amount due. Piease contact the Treasurer's office with questions at (208)-236- 7220. Current Year: $44.30 Previous Year $40.64 FYiiii2iT R EXCERPTS OF STATUTES IDAHO CODE §§ 50-2018(8) AND (9) (8) "Deteriorated area" shall mean an area in which there is a predominance of buildings or improvements, whether residential or nonresidential, which by reason of dilapidation, deterioration, age or obsolescence, inadequate provision for ventilation, light, air, sanitation, or open spaces, high density of population and overcrowding, or the existence of conditions which endanger life or property by fire and other causes, or any combination of such factors is conducive to ill health, transmission of disease, infant mortality, juvenile delinquency, or crime, and is detrimental to the public health, safety, morals or welfare. Provided however, this definition shall not apply to any agricultural operation, as defined in section 22-4502(2), Idaho Code, absent the consent of the owner of the agricultural operation or to any forest land as defined in section 63- 1701(4), Idaho Code, absent the consent of the forest landowner, as defined in section 63-1701(5), Idaho Code, except for an agricultural operation or forest land that has not been used for three (3) consecutive years. (9) "Deteriorating area" shall mean an area which by reason of the presence of a substantial number of deteriorated or deteriorating structures, predominance of defective or inadequate street layout, faulty lot layout in relation to size, adequacy, accessibility or usefulness, insanitary or unsafe conditions, deterioration of site or other improvements, diversity of ownership, tax or special assessment delinquency exceeding the fair value of the land, defective or unusual conditions of title, or the existence of conditions which endanger life or property by fire and other causes, or any combination of such factors, substantially impairs or arrests the sound growth of a municipality, retards the provision of housing accommodations or constitutes an economic or social liability and is a menace to the public health, safety, morals or welfare in its present condition and use; provided, that if such deteriorating area consists of open land the conditions contained in the proviso in section 50-2008(d), Idaho Code, shall apply; and provided further, that any disaster area referred to in section 50-2008(g), Idaho Code, shall constitute a deteriorating area. Provided however, this definition shall not apply to any agricultural operation, as defined in section 22-4502(2), Idaho Code, absent the consent of the owner of the agricultural operation or to any forest land as defined in section 63-1701(4), Idaho Code, absent the consent of the forest landowner, as defined in section 63- 1701(5), Idaho Code, except for an agricultural operation or forest land that has not been used for three (3) consecutive years. IDAHO CODE § 50-2008 50-2008. PREPARATION AND APPROVAL OF PLAN FOR URBAN RENEWAL PROJECT. (a) An urban renewal project for an urban renewal area shall not be planned or initiated unless the local governing body has, by resolution, determined such area to be a deteriorated area or a deteriorating area or a combination thereof and designated such area as appropriate for an urban renewal project. (b) An urban renewal agency may itself prepare or cause to be prepared an urban renewal plan, or any person or agency, public or private, may submit such a plan to an urban renewal agency. Prior to its approval of an urban renewal project, the local governing body shall submit such plan to the planning commission of the municipality, if any, for review and recommendations as to its conformity with the general plan for the development of the municipality as a whole. The planning commission shall submit its written recommendations with respect to the proposed urban renewal plan to the local governing body within sixty (60) days after receipt of the plan for review. Upon receipt of the recommendations of the planning commission, or if no recommendations are received within said sixty (60) days, then without such recommendations, the local governing body may proceed with the hearing on the proposed urban renewal project prescribed by subsection (c) hereof. (c) The local governing body shall hold a public hearing on an urban renewal project, after public notice thereof by publication in a newspaper having a general circulation in the area of operation of the municipality. The notice shall describe the time, date, place and purpose of the hearing, shall generally identify the urban renewal area covered by the plan, and shall outline the general scope of the urban renewal project under consideration. (d) Following such hearing, the local governing body may approve an urban renewal project and the plan therefor if it finds that (1) a feasible method exists for the location of families who will be displaced from the urban renewal area in decent, safe and sanitary dwelling accommodations within their means and without undue hardship to such families; (2) the urban renewal plan conforms to the general plan of the municipality as a whole; (3) the urban renewal plan gives due consideration to the provision of adequate park and recreational areas and facilities that may be desirable for neighborhood improvement, with special consideration for the health, safety and welfare of children residing in the general vicinity of the site covered by the plan; and (4) the urban renewal plan will afford maximum opportunity, consistent with the sound needs of the municipality as a whole, for the rehabilitation or redevelopment of the urban renewal area by private enterprise: Provided, that if the urban renewal area consists of an area of open land to be acquired by the urban renewal agency, such area shall not be so acquired unless (1) if it is to be developed for residential uses, the local governing body shall determine that a shortage of housing of sound standards and design which is decent, safe and sanitary exists in the municipality; that the need for housing accommodations has been or will be increased as a result of the clearance of slums in other areas; that the conditions of blight in the area and the shortage of decent, safe and sanitary housing cause or contribute to an increase in and spread of disease and crime and constitute a menace to the public health, safety, morals, or welfare; and that the acquisition of the area for residential uses is an integral part of and essential to the program of the municipality, or (2) if it is to be developed for nonresidential uses, the local governing body shall determine that such nonresidential uses are necessary and appropriate to facilitate the proper growth and development of the community in accordance with sound planning standards and local community objectives, which acquisition may require the exercise of governmental action, as provided in this act, because of defective or unusual conditions of title, diversity of ownership, tax delinquency, improper subdivisions, outmoded street patterns, deterioration of site, economic disuse, unsuitable topography or faulty lot layouts, the need for the correlation of the area with other areas of a municipality by streets and modern traffic requirements, or any combination of such factors or other conditions which retard development of the area. (e) An urban renewal plan may be modified at any time: Provided that if modified after the lease or sale by the urban renewal agency of real property in the urban renewal project area, such modification may be conditioned upon such approval of the owner, lessee or successor in interest as the urban renewal agency may deem advisable and in any event shall be subject to such rights at law or in equity as a lessee or purchaser, or his successor or successors in interest, may be entitled to assert. (f) Upon the approval by the local governing body of an urban renewal plan or of any modification thereof, such plan or modification shall be deemed to be in full force and effect for the respective urban renewal area, and the urban renewal agency may then cause such plan or modification to be carried out in accordance with its terms. (g) Notwithstanding any other provisions of this act, where the local governing body certifies that an area is in need of redevelopment or rehabilitation as a result of a flood, fire, hurricane, earthquake, storm, or other catastrophe respecting which the governor of the state has certified the need for disaster assistance under 42 U.S.C. section 5121, or other federal law, the local governing body may approve an urban renewal plan and an urban renewal project with respect to such area without regard to the provisions of subsection (d) of this section and the provisions of this section requiring a general plan for the municipality and a public hearing on the urban renewal project. (h) Any urban renewal plan containing a revenue allocation financing provision shall include the information set forth in section 50-2905, Idaho Code. IDAHO CODE §50-2903(8) (8) "Deteriorated area" means: (a) Any area, including a slum area, in which there is a predominance of buildings or improvements, whether residential or nonresidential, which by reason of dilapidation, deterioration, age or obsolescence, inadequate provision for ventilation, light, air, sanitation, or open spaces, high density of population and overcrowding, or the existence of conditions which endanger life or property by fire and other causes, or any combination of such factors, is conducive to ill health, transmission of disease, infant mortality, juvenile delinquency, or crime, and is detrimental to the public health, safety, morals or welfare. (b) Any area which by reason of the presence of a substantial number of deteriorated or deteriorating structures, predominance of defective or inadequate street layout, faulty lot layout in relation to size, adequacy, accessibility or usefulness, insanitary or unsafe conditions, deterioration of site or other improvements, diversity of ownership, tax or special assessment delinquency exceeding the fair value of the land, defective or unusual conditions of title, or the existence of conditions which endanger life or property by fire and other causes, or any combination of such factors, results in economic underdevelopment of the area, substantially impairs or arrests the sound growth of a municipality, retards the provision of housing accommodations or constitutes an economic or social liability and is a menace to the public health, safety, morals or welfare in its present condition and use. (c) Any area which is predominately open and which because of obsolete platting, diversity of ownership, deterioration of structures or improvements, or otherwise, results in economic underdevelopment of the area or substantially impairs or arrests the sound growth of a municipality. The provisions of section 50-2008(d), Idaho Code, shall apply to open areas. (d) Any area which the local governing body certifies is in need of redevelopment or rehabilitation as a result of a flood, storm, earthquake, or other natural disaster or catastrophe respecting which the governor of the state has certified the need for disaster assistance under any federal law. (e) Any area which by reason of its proximity to the border of an adjacent state is competitively disadvantaged in its ability to attract private investment, business or commercial development which would promote the purposes of this chapter. (f) "Deteriorated area" does not mean not developed beyond agricultural, or any agricultural operation as defined in section 22- 4502(1), Idaho Code, or any forest land as defined in section 63- 1701(4), Idaho Code, unless the owner of the agricultural operation or the forest landowner of the forest land gives written consent to be included in the deteriorated area, except for an agricultural operation or forest land that has not been used for three (3) consecutive years. EXHIBIT C ELIGIBILITY REPORT 4877-7887-9997, v.1 <Z>PERSPECTIVE PLANNING & CONSULTING W dy Area ELIGIBILITY REPORT PREPARED BY Prepared by Brad Cramer, MPA, AICP Perspective Planning & Consulting LLC <Z>PERSPECTIVE PLANNING & CONSULTING Contents 01 EXECUTIVE SUMMARY 33 CONCLUSION 05 BACKGROUND 36 APPENDIX A: INFORMATION Additional Site Photos 07 SUMMARY OF THE 50 APPENDIX B: ` STUDY AREA Steps to Creating on Urban Renewal District 09 CURRENT CONDITIONS 52 APPENDIX C: IN THE STUDY AREA Open Lands Analysis 28 FINDINGS MAPS & LAYOUT DESIGN BY POVEY Madison Ronneburg, Graphic Designer DESIGN CO. Povey Design Co. LLC. Executive Summary This report is a review of approximately 660 acres generally bounded by New Day Parkway on the north, a Union Pacific rail line and Whitaker Road on the east, 1-86 to the south, and Hawthorne Road on the west, to determine if it is eligible for designation as an Urban Renewal Area (URA) and appropriate for an urban renewal project under the Idaho Urban 7r�. Renewal Law of 1965 and Local Economic Development Act, which are described in more detail in Appendix B. There is no proposed district name at the time of this writing, therefore the lands will be referred to simply as the Study Area. It includes areas both in private ownership as well as lands owned by the City of Chubbuck and the Chubbuck Development Authority (CDA). The proposed boundaries are shown on Map 1. m The Idaho Urban Renewal Law of 1965, which comprises Chapter 20, Title 50 as amended and the Local Economic Development Act, comprising Chapter 29, Title 50 of Idaho Code as amended, outline the statutory criteria for determining whether an area is eligible to be designated as a URA. To be eligible, a site must be determined to be a TABLE 1 Summary of Findings deteriorating and/or deteriorated area by meeting at least one of these statutory criteria. The review of the Study Area determined that it meets at least one of the criteria and is, therefore, eligible to be an urban renewal project. A summary of the criteria and whether they are met is included below in Table 1. The full analysis of each criterion is included in the main body of the report. Substantial Deterioration There are structures, mainly residential, throughout of Site O the Study Area which are deteriorating. There are also several roads, both public and private which are deteriorating. Age or Obsolescence Buildings in the Study Area range in construction date from 1920-2022, many coming in the O mid -20th century. The layout and street network is obsolete in many areas of the Study Area in terms of the ability to support modern development. Predominance of Defective Although the principal arterials in the area provide Street Layout or Inadequate excellent access, there are numerous roads which Street Layout do not connect to any other right-of-way. There are several roads which are both public and private, creating potential conflicts. Outmoded Street Patterns Besides the lack of connectivity of several of the O collectors and local roads, there are too many access points on the principal arterials and a lack of adequate bicycle and pedestrian infrastructure. Need for Correlation of Area O Based on information provided by City of Chubbuck with Other Areas of by Streets Public Works, there are several intersections which and Modern Traffic need widening in order to accommodate current Requirements and projected traffic. There are also streets lacking adequate infrastructure. There are numerous roads that do not connect and do not have a clear, viable path to future connection. Faulty Lot Layout There are several portions of the Study Area O which are not platted or where several vacant lots will need to be assembled in order to provide sufficient space for modern development. 03 TABLE Summary of Findings Continued Unsuitable Topography There are some small areas with elevation changes and where sub -surface boulders may exist, they are © not severe enough to prevent development without significant remediation. Insanitary or Unsafe Conditions Numerous structures throughout the Study Area are older and deteriorating and likely do not meet O modern building and fire codes. There are fire hydrants supporting the area that need upgrades in order to provide adequate fire flow. The lack of bicycle and pedestrian infrastructure is unsafe for non -vehicular traffic. Diversity of Ownership 53% of the 869 parcels in the Study Area are under unique owners. This creates significant challenges O around the vacant parcels that could be developed if land were assembled. Tax or Special Assessment © Not evaluated for this report. Delinquency Defective or Unusual © Not evaluated for this report. Conditions of Title Existence of Conditions Which As previously noted, within the Study Area there Endanger Life or Property are deteriorating structures, too many access O points on principal arterials, inadequate bicycle and pedestrian infrastructure, and anticipated lack of adequate fire flow to support growth. Impairs or Arrests the Sound To support growth, existing intersections need to Growth of a Municipality be widened, lift stations need to be upgraded, and O increased fire flow capacity is needed to several hydrants. In addition, the lack of a connected street network and diversity of ownership on and around otherwise developable parcels impair the ability of the Study Area to develop and redevelop. Retards Development Inadequate public infrastructure and diversity of of the Area ownership are primary drivers of slowed growth in the area. The mix of existing uses is also challenging. Economic Underdevelopment O See above. i and Economic Disuse 04 POSSIBLE ACCESS TO VACANT LAND IN SUB -AREA 5 FROM WHITAKER Background Information The Chubbuck Development Authority (CDA) is the urban renewal agency of the City of Chubbuck. The CDA was created on April 14, 1992, for the purpose of eliminating blight and deteriorating conditions in the City of Chubbuck. The Mayor, with the confirmation of the City Council, has appointed seven individuals to the CDA: Seat One Rick Keller (Vice -Chair) Seat Two Jeff Hough Seat Three Daniel Heiner Seat Four Annette Baumeister (Chair) Seat Five Krystal Harmon Seat Six Amanda James Seat Seven Brandon Evans Ashley Squyres serves as the Executive Director of the CDA and Joey Bowers serves as Clerk. T.J. Budge is the legal counsel for the CDA. Brad Cramer with Perspective Planning and Consulting has been engaged to prepare an eligibility report to determine if the Study Area meets the criteria for consideration as an urban renewal area (URA). Additional information on Idaho's urban renewal program is included in Appendix B. 05 Urban Renewal Background Information In response to federal programs funding redevelopment of "blighted" urban areas in the mid -twentieth century, Idaho passed the Idaho Urban Renewal Law of 1965. The law authorized Idaho Municipalities to identify deteriorating areas within their communities and to use federal grant monies to improve and, if necessary, redevelop these areas. Support for such federal expenditures dissipated and eventually ended in the early 1970's. With the loss of federal support, states needed another tool to assist cities to redevelop deteriorating areas and to participate in the economic vitality of their communities. Idaho cities have a significant financial challenge in responding to the infrastructure demands of growth along with the on-going need to maintain the existing physical plant in good repair. Idaho cities face stringent constitutional limitations and near total dependence upon state legislative action to provide funding. An Idaho city's access to funding sources and the ability to employ effective financing mechanisms such as general obligation bonding severely constrain capital investment strategies. UNDEVELOPED LOT EAST OF STORAGE UNITS Tools available to cities in Idaho Code Title 50, Chapters 20 and 29, the Urban Renewal Law of 1965 and the Local Economic Development Act, respectively, are some of the few available to assist communities in their efforts to support economic vitality. New sources of State support are not likely to become available in the foreseeable future, thus the CDA's on-going interest in exploring the potential for establishing additional urban renewal/revenue allocation areas is appropriate. The purpose of this report is to determine if the Study Area meets the criteria outlined in Idaho statutes, Idaho Code Sections 50-2018(8), (9), and 50-2903(8), for a URA. This report is the first step to assist the Chubbuck City Council determine if there is a need for creating a URA in a portion or all of the Study Area. To be eligible, a proposed URA need only meet one of the criteria in the statute. A complete list of all steps required to create a URA, and list of eligibility criteria is included in Appendix B. 06 VACANT LOT NORTH OF BURNSIDE Summary of the Study Area The study area includes 869 parcels bounded by New Day Parkway on the north, a Union Pacific rail line and Whitaker Road on the east, 1-86 to the south, and Hawthorne Road on the west. Most of the Study Area is developed, although there are approximately 150 acres of open, large parcels for development as well as several other smaller pockets of infill sites within existing developments. The larger open areas include land in Legacy Park, along Knudsen, east of the rail line and south of Mingo. The area around City Hall also has nearly 15 acres of vacant land in the vicinity. Besides vacant parcels, there are also sites which are underutilized and could be redeveloped to other uses. These mainly include storage yards for equipment and materials. The Study Area and surrounding area has seen significant growth and change over the past few decades. Map 2 shows the area in 1992. Since that time major commercial development has occurred south of 1-86 in both Chubbuck and Pocatello. There has also been significant development and change along the Yellowstone corridor north of 1-86 and Chubbuck Road. Within the existing developments there are many areas which lack complete public infrastructure such as fully developed roads with curb, gutter, and sidewalk. According to information provided by City of Chubbuck staff, while most of the utilities in the Study Area are adequate, there are some areas limited by inadequate fire flows and lift stations. These will be discussed later in the report. Much of the Study Areas was the subject of a recent Technical Advisory Report produced by the Idaho chapter of the Urban Land Institute. The Legacy Park area was also recently evaluated for a potential Urban Renewal Area. Both reports were reviewed and utilized in the preparation of this eligibility study. Because the Study Area is so large and diverse in terms of current conditions this report breaks down the evaluation into 5 smaller sub -areas as described in Table 2 below and shown on Map 2. The final analysis of whether the statutory criteria are met considers the entire area, but the narrative attempts to describe conditions and deficiencies in the 5 areas. 07 Li.- :- � JIM__ - j A TABLE 2 Study Sub -Areas 1 Chubbuck Road on the south, New Day Parkway on the north, Yellowstone Avenue on the east and Hawthorne Road on the west. 2 Chubbuck Road on the south, New Day Parkway on the north, Yellowstone Avenue on west, and the Union Pacific rail line on the east. 3 Chubbuck Road on the north, 1-86 on the south, Yellowstone Avenue on the east, and Hawthorne Road on the west. 4 Chubbuck Road on the north, 1-86 on the south, Yellowstone Avenue on the west, and the Union Pacific rail line on the east. 5 Callaway Drive on the north, Chubbuck Road on the south, Whitaker Road on the east, and the Union Pacific rail line on the west. 08 Current Conditions In The Study Area The Study Area, including each of the sub -areas, is relatively flat with no major changes in elevation that would pose a challenge to development except for a small portion of sub -area 4 between the businesses on Chubbuck Road and the area around City Hall. According to USGS soil maps, there are four soil types in the Legend Study Area 7: Bahem Silt Loam 21: Broxon Silt Loam (0-2% slopes) 22: Broxon Silt Loam (2-4% slopes) 113: Urban Land-Bahem- Broxon Complex 40 Study Area: Bahem Silt Loam, Broxon Silt Loam (0-2% slopes), Broxon Silt Loam (2-4% slopes), and Urban Land Bahem-Broxon Complex. They are described as having some limitations for streets and roads, but the area is generally without development limitations. There can be areas within the Broxon Silt Loam designations which contain large boulders, making excavation more challenging. Based on conversations with City of Chubbuck staff, the boulders tend to be shallower in the southern portion of the Study Area. Map 3 shows the locations of each soil type. 09 Land Uses & Structures In general, the Study Area is diverse in terms of construction dates. There are buildings ranging from the 1920's to as recent as 2022 and they vary in condition and states of deterioration. As noted in the summary section, the Study Area is largely developed and each of the sub -areas varies in land uses and condition of structures. Each sub -area is reviewed separately below. Map 4 shows the current land uses in the entire Study Area. Map 5 identifies the developable areas within the Study Area. Sub -area 1 is a mix of commercial, service, and residential uses. There are also several pockets of vacant and re -developable land. The north end of this area near New Day Parkway, Stuart Avenue, Briscoe Road, and Adams Street is mainly single-family residential, with a few multi -family residential developments. The homes surround two large undeveloped areas of approximately 15 and 10 acres. It appears these are planned for development in the future as there are stub roads built to each. Some of this land would need to be assembled into a single ownership as it is partly IN made of up of large rear yards of existing homes. There are sections, however, that are not associated with the homes that are still large enough to accommodate development. There are other developable parcels north and west of Park Lawn Drive. Structures in this area are generally in good condition. Between Park Lawn Drive and Circle Inn Drive further south, the conditions are much different. There are several mobile home parks which are in poor condition, with many structures and street sections showing obvious signs of deterioration. There are several businesses along Yellowstone in this area as well ranging from retail and restaurant to equipment rentals and heating and air conditioning repair. These businesses are also, for the most part, in older buildings showing signs of age. The Smith's grocery store, located just south of Circle Inn Drive and fronting Yellowstone and Chubbuck is in good condition, with several perimeter pad sites with a mix of commercial uses. 4REA 2 The northern portion of sub -area 2 was the subject of the Legacy Park Eligibility Report which was drafted in 2024. That report was not officially approved, but a site visit verified the conditions remained the same and the text here is adapted m MISSING SIDEWALK ALONG CLOVER DELL from the previous study. There is a significant amount of vacant land in this area but is in process of being developed. There are a variety of businesses along Yellowstone, including RV sales, motorsport sales, and an animal medical center. The Chubbuck Police Department and Animal Shelter are also in the area. Capell Park is located on the eastern side of this north portion, just south of a newer apartment complex. Highway Avenue, is a mix a heavy commercial and residential uses. From Park Lawn Drive north, the structures and infrastructure are in good condition. Along Highway Avenue, however, while there are newer buildings near Yellowstone, there is also a deteriorating mobile home park, and older heavy commercial buildings. The residences on this street are in varied conditions. The southern portion of this sub -area is a mix of heavy commercial and industrial type businesses. The area around Laurel Lane includes older commercial buildings and storage yards as well as newer shop -type buildings further east. There are vacant lots both north and south of this street, stretching to Ward Drive further south. Ward and Valenty Road is an older commercial area with a couple of newer buildings and an older mobile home park as well as an empty lot behind the ISU Bengal Pharmacy and another just west of the Palace Theatre. There were newer multi -tenant buildings along Valenty Road that appeared to have several vacancies. The condition of the buildings ranged from poor to good. Sub -area 3 is a blend of new development and abundant developable land as well as older homes, commercial uses, and even agricultural uses. Knudsen Drive includes a new apartment complex and medical building and many acres of developable land. To the east, uses on West Linden Avenue include older homes on large lots, a newer townhome development, storage units, and a construction yard. The large lots included horse properties as well. Buildings were at least in fair condition. To the south and east of Knudsen Avenue there is a street of older residential units (Parrish Lane) and a street of older commercial including several hotels (Burnside Avenue). The homes on Parrish were in poor to fair condition. The businesses and hotels on Burnside also range from poor to fair condition. This was an area identified in the ULI Technical Advisory Report as in need of redevelopment to newer, modern buildings that reflect the development occurring in Chubbuck and Pocatello south of I-86 and creating a more welcoming atmosphere to visitors. 12 LOOKING EAST ALONG KNUDSEN L7 This area includes a diverse mix of land uses including commercial, civic, residential, industrial, and vacant. The anchor tenants in this area are the Idaho Central Credit Union (ICCU) corporate campus and Chubbuck City Hall. These new, modern buildings bring significant day -time population to the area. There is also a new townhome development on the north side of the area. Commercial uses dominate Yellowstone Avenue and are generally those typically found near a highway interchange, including restaurants, auto -services, and fuel stations. There is also a financial institution and medical clinic as well as a retail store on the northern end. Chubbuck Road is also nearly entirely commercial uses, except for an older modular home. The interior of the area between Yellowstone and the rail line is a much more varied mix. There are older homes, vacant parcels which include some minor agricultural uses, storage DETERIORATING RESIDENTIAL BUILDING ON CHUBBUCK RD units, a construction yard, and RV storage. There are also several small businesses on the local roads, typically closer to the intersections with Yellowstone Avenue. The interior of the area includes nearly 15 total acres of vacant land divided among 18 parcels, one of which is owned by the CDA. As noted above, new structures include Chubbuck City Hall, ICCU and the townhomes on the north. Businesses along Yellowstone and Chubbuck range in age, but all appear to be in fair -to -good condition with no obvious signs of deterioration. The homes in this area are older, with construction dates noted in the Bannock County Parcel Viewer ranging from 1927 to 1974, but in at least fair condition. The outbuildings to the homes, however, and the modular home along Chubbuck Road, built in 1974, are in poor condition and show clear signs of deterioration. 13 NARROW SIDEWALK ON CHUBBUCK RD LOOKING EAST ALONG CALLAWAY ISUB -AREA 5 ' - This section is unique to the Study Area. Separated from the other areas by the railroad, sub -area 5 is approximately 40 acres of undeveloped land other than homes and a church that face Whitaker Road on the east. The structures on Whitaker are in good condition. The land is still being used for agricultural purposes, primarily keeping of livestock. NORTH END OF SCOUT MOUNTAIN WAY VIEW SOUTH FROM CALLAWAY There are 43 public streets and 7 private roads in the Study Area, each varying in condition. For ease of organization, each street is evaluated in Table 3 below. For streets that are in multiple sub -areas such as Yellowstone Avenue and Chubbuck Road, conditions varied across sub -areas and each segment is evaluated separately in the table. Map 6 shows the street classifications in the Study Area. 14 �i TABLE 3 Public & Private Streets in the Study Area 1 New Day Parkway 1 Stuart Avenue 1 Adams Street 1 Lucky Avenue 1 Lisa Street Principal Arterial Public Asphalt in fair condition. No curb, gutter, or sidewalk on the south side. Local Public Good condition. Local Public Good condition. Local Public Good condition. Local Public Good condition. Stub road to vacant land to east 15 Table 3: Public & Private Streets in the Study Area Cont. 1 Briscoe Road Collector Public/ Public/Private Segments on both sides of Private Stuart. West of Stuart is all public. East of Stuart, does not connect. Private drive to a home then becomes public again as it travels east to Yellowstone. 1 Belva Lane Local Private Good condition. No curb, gutter, or sidewalk. 1 Mesquite Drive Local Public Good condition. Missing sidewalk on east side adjacent to vacant lot. 1 Park Lawn Drive Local Public Good condition. 1 Mingo Lane Local Private Asphalt in poor condition. No curb, gutter, or sidewalk. Doesn't connect to any other streets. 1,200 -foot -long dead end road. 1 Circle Inn Street Local Public The section included in the Study Area is in fair -to -good condition. 1 Afton Place Collector Public/ Fair condition with full ROW infrastructure. Private A portion of the road is privately owned. Does not connect to the north even though identified as a collector. 1 Yellowstone Ave Principal Arterial Public Between New Day Parkway and Park Lawn Drive, road has not been widened to the same 5 -lane section with curb, gutter, and sidewalk as further south. Between Park Lawn Drive and Chubbuck Road, the infrastructure is in fair -to -good condition, but has been identified by the CDA, City of Chubbuck, and the ULI Technical Advisory Report as lacking appropriate pedestrian and bicycle friendly amenities such as wider sidewalks separated from the travel lanes by landscaping. 1 Chubbuck Road Principal Arterial Public Infrastructure is in fair -to -good condition 2 New Day Parkway Principal Arterial Public Good condition. Needs to be widened to match fully built road to the east. 2 Whitaker Road Minor Arterial Public Good condition. Only a small section of Whitaker is in sub -area 2. 2 Briscoe Road Local Public Good condition. IN Table 3: Public & Private Streets in the Study Area Cont. 2 East Briscoe Road Local Private Good condition. 2 Park Lawn Drive Collector Public Good condition. 2 Diamond Circle Local Public Good condition. 2 Highway Avenue Minor Arterial Public Asphalt is generally in fair condition with (Future) some signs of deterioration, especially on the east end of the street. No curb, gutter, or sidewalk on the south side. Some of this infrastructure is missing on the north side as well towards the east end of the street. 2 Laurel Lane Local Public Asphalt is in fair -to -good shape in most places. On eastern end of street there is deteriorating and missing sidewalk. Gravel from adjacent parking lots are contributing to deterioration. 2 Rainbow Lane Local Public Fair -to -good condition. Sidewalks are very narrow. 2 Ward Drive Collector (Future) Public Asphalt in poor -to -fair condition with lots of cracking and patching. Deteriorating on edges due to lack of curb, gutter or sidewalk. Does not connect to a public street to the east. Gravel from adjacent parking lots are contributing to deterioration. 2 Valenti Road Local Public Asphalt in poor -to -fair condition, has heavy patching and is deteriorating on the edges where there is no curb, gutter, or sidewalk. Presence of curb, gutter, and sidewalk is sporadic. Areas where it does exist includes cracked and crumbling concrete. Gravel from adjacent parking lots are contributing to deterioration. 2 Clover Dell Road Local Public Infrastructure in fair -to -good condition. No sidewalk next to vacant lot. 2 Yellowstone Avenue Principal Arterial Public See notes for sub -area 1 2 Chubbuck Road Principal Arterial Public Fair -to -good condition. Narrow sidewalks for the speed of the road with no separation from the travel lanes. 17 Table 3: Public & Private Streets in the Study Area Cont. 3 1 Chubbuck Road 3 ; Yellowstone Avenue 3 3 Afton Place/Road West Linden Avenue 3 Knudsen Boulevard 3 Parrish Lane 3 3 4 4 Zebe Lane West Burnside Ave. Chubbuck Road Yellowstone Avenue Principal Arterial Principal Arterial Collector (future) Collector M111711511111111111111 Public Public/ Private Public Collector Public Local Public Local Local Principal Arterial Principal Arterial Public Public Public Public See notes from sub -area 1. Infrastructure is in fair -to -good condition. As with other sections of this road and Chubbuck Road, the sidewalks are narrow for the speed of the roadway and are not separated from the travel lanes. This section of Yellowstone was identified as a barrier to development and connectivity in the ULI Technical Advisory Report. As with the section of Afton in sub -area 1, Afton is a mix of public and private roadway. From Chubbuck Road south to the canal, it is a public road in good condition. From the canal south to W. Linden it is a private in poor condition with no curb, gutter or sidewalk. From Linden, the road is blocked from connection by a storage unit development. On the south side of the storage units, Afton is a public road in good condition. West Linden is in poor -to -fair condition. Gravel parking lots are contributing to the deterioration of the concrete and asphalt on the east end of the roadway. There is some curb, gutter, and sidewalk on the south side, but not along the entire length of the road. There is no such infrastructure on the north side of the road. It is currently a dead-end, but is intended to connect with future development to the west. Good condition. Infrastructure is in poor -to -fair condition. Signs of deteriorating concrete and asphalt. Significant gaps in the sidewalk network. Good condition. Good condition. See notes from sub -area 2. See notes from sub -area 3. 18 Table 3: Public & Private Streets in the Study Area Cont. 4 Burley Drive Village Collector Public Mostly good condition. Gravel from adjacent storage yards on the east side of the street are starting to cause deterioration of the concrete. 4 East Linden Avenue Village Collector Public Good condition. Broken curb at intersection with Yellowstone. 4 Evans Lane Village Collector Public Good condition. 4 Central Way Village Collector Public Good condition. 4 East Burnside Ave. Local Public Good condition. 4 Kingport Crossing Village Collector Public Good condition. 4 Scout Mountain Way Village Collector Public Good condition. In terms of overall connectivity internally and with the larger street network, Yellowstone Avenue connects with 1-86 to the south and the commercial development to the north while New Day Parkway connects with 1-15 to the east. The local roads provide connection to adjacent residential developments. Although the Study Area has excellent connectivity to the larger network and is generally well connected internally, there are several gaps which need to be addressed. Some of these gaps will be addressed as development occurs, such as with West Linden, Park Lawn Drive, and Lisa Street. Other gaps will be more challenging. The segments of Briscoe Road west of Yellowstone are disconnected by a private property. There appears to be an asphalt driveway that could be converted to a street if the owners were willing to convey the right-of-way. Mingo Lane is in a similar condition. It currently dead -ends at a private property, but could connect across the parcel to Rose Street. Afton is the most problematic roadway. It is a mix, back -and -forth between public and private control. In the stretch between Chubbuck Road and West Linden, where the road is private, it is providing access to homes but is not on the same property as any of the homes. There is also a major gap in the roadway between Linden and Knudsen where an existing storage unit is blocking connection. Finally, access to sub -area 5 is nearly non-existent. Callaway Drive can provide access to the north end and the City of Chubbuck does have an easement that runs from Callaway to the south for a portion of the sub -area. However, the easement does not traverse the entire property nor does it connect east or west. 19 Bicycle and pedestrian connectivity is fragmented in many parts of the Study Area. Sidewalks are not always present on roadways and are insufficient along Yellowstone and Chubbuck, both principal arterials with high vehicular travel speeds. There are also no places to cross these major roadways other than at main intersections. The ULI report identified significant gaps in the bike/ped network and recommended focusing on the creation of a dedicated bike route with 5 -foot bike lanes and speed bumps where appropriate. and transforming Yellowstone into a partial boulevard with landscaped medians and pedestrian crossings. Other recommendations within the Study Area included: 1. Extending the bike lane on Chubbuck Road and installing Rectangular Rapid Flashing Beacons at key intersections Legend — Study Area 0 Traffic Signal 0 Widen & Realign Intersection Intersection Improvements/ Add Turn Lane Center Landscape Islands Curb, Gutter, Sidewalk & Paving Improvements Curb, Gutter, Sidewalk & Road Widening Improvements QRoad Improvements 2. Installing sharrows and wayfinding signage on Burley and Evans 3. Updating the bike lane on Knudsen to 5 -feet and installing wayfinding signage 4. Installing sharrows and wayfinding signage on Whitaker City of Chubbuck staff also conveyed a list of needed street improvements within the Study Area besides those such as lack of curb, gutter, and sidewalk already noted above. These are listed below and shown on Map 7. 1. Intersection widening and realignment at Chubbuck Road/Yellowstone Avenue 2. Traffic signal at Yellowstone Avenue and Park Lawn. This is currently being required by ITD to be built by the developer of Legacy Park. 20 City of Chubbuck Public Works provided information for this report that stated there are needed improvements in order to support the Study Area at full buildout. Some of these improvements are outside of the Study Area, but are needed to support the anticipated growth. The following improvements will be needed to the utility network. These are also shown on Map 8. Legend Study Area New Water Line & Connection QUpsize or Re -Source Supply to Hydrants .� Replace & Upgrade Valenty Lift Station @' Upgrade Ellis Lift Station .I hUpgrade Paradise Lift Station Stormwater Improvements 1. New water line and connection across 1-86 to tie into the south end of the Study Area near the east side of Yellowstone Avenue 2. Upsizing of existing water lines or new water lines to connect to four deficient fire hydrants. 3. Replacement of the Valenty lift station with increased capacity. 4. Upgrades to the Ellis lift station. 5. Upgrades to the Paradise lift station. 21 LOOKING WEST ALONG MINGO VACANT LOTS EAST OF STUART As with the street network, the lot layout is adequate in most of the Study Area, especially in areas were development is most likely to occur such as along Knudsen or in Legacy Park. The exception to this is the vacant land in sub -area 5 which is comprised of a variety of parcels and owners connected to adjacent single-family homes. For the areas where development has already occurred, however, there are numerous areas where lot layout will be challenging for any redevelopment or, in some cases, even new development. There are lots VACANT LOT SOUTH OF HOMES ON MINGO LOOKING NORTH ON CLOVER DELL such as along Yellowstone just northwest of the Chubbuck Police Station that is only 50 -feet wide and nearly 400 -feet deep. It is currently occupied with a home at the front of the lot, but without being combined with another parcel, such as the vacant land to the north it would not accommodate most modern development styles. These and other situations such as flag lots, deep lots with homes in the front and businesses in the back, lots with no access, or lots that are too small to development are common in the developed portions of the Study Area. Under these conditions, redevelopment will be extremely challenging. 22 i� iz Chubbuck Comprehensive Plan &Zoning Chubbuck's comprehensive plan is in process of being updated and this section considers elements from the existing plan and the version nearing adoption. According to online maps, the Study Area contains most of the future land use designations including Commercial, Employment, High Density, Medium Density, Mixed Use, Highway, and Village. In the surrounding area there are also these same designations as well as Low Density. These designations are shown on Map 9. In addition to the map designations, the proposed comprehensive plan identifies the Chubbuck Village area (sub -area 4) as a community center, anticipated to accommodate a mix of uses with trails and open space. Developing this area as a civic center was also noted in the 2002 plan. The Yellowstone corridor is designated as a mixed-use hub, intended to provide commercial opportunities and densification. 23 F1� L7J:- U- According the online zoning map, the Study Area includes Limited Commercial (C-1), General Commercial (C-2), Limited Residential (R-2), Planned Unit Development (PUD), Creative Community, Agriculture (A), Village (V), Industrial (1) and Dense Residential (R-4). Surrounding zoning includes these same zones as well as Single Family Residential (R-1) to the east, west, and northwest and Creative Community -Northside Crossing (CC -NC) to the northeast. Map 10 is a zoning map of the area. Legend Study Area Agriculture (A) Single Family Residential (R-1) Limited Residential (R-2) Dense Residential (R-1) Limited Commercial (C-1) M General Commercial (C-2) Industrial (1) Planned Unit Development (PUD) Highway Corridor (HC) ♦♦ Village (V) 24 LOOKING EAST ALONG MINGO ;:. - rw - - Ten Percent Limitation &Assessed Valuation Within Revenue Allocation Area In addition to the eligibility criteria discussed in this report, Idaho statutes limit the combined base assessment rolls of the existing and proposed Revenue Allocation Areas (RAAs) to ten percent of the current assessed valuation of all taxable property within the municipality. Idaho Code Section 50-2903(15) states: "Revenue allocation area" means that portion of an urban renewal area ... where the equalized assessed valuation (as shown on the taxable property assessment rolls) of which the local governing body has determined, on and as a part of the urban renewal plan, is likely to increase as a result of the initiation of an urban renewal project .... The base assessment roll or rolls of revenue allocation area or areas shall not exceed at any time ten percent (10%) of the current assessed valuation of all taxable property within the municipality." The Bannock County Assessor's Office provided the consultant the assessed value and adjusted base of the existing urban renewal areas and a report showing the current valuation of the Study Area. It also provided the total assessed value of the City of Chubbuck. 25 TABLE 2 Statutory Ten Percent Limitation Analysis City of Chubbuck 4W Pine Ridge Northside Crossing Harvest Springs Study Area The total combined adjusted base assessment rolls of the existing RAAs including the estimated base assessments for the study area is $305,388,680 and will exceed the estimated ten percent limit of $134,734,483 as currently proposed. The combined rolls are estimated to be 22.6% of the 2024 assessed value of the city. The proposed boundary will need to be reduced to remove at least $170,654,197 in taxable valuation in order to meet the 10% limitation. Some of the high value in the proposed district is also a result of properties being captured in the county's GIS data that were not part of the Study Area. Being more precise with the boundary data provided to the county will help reduce the values as well. It should be possible to still create a viable district and capture all or most of the rights -of way the CDA and City of Chubbuck desire to improve through a boundary adjustment prior to moving forward with the next step of plan creation. Although it is not the purpose of this report to identify exactly which properties to remove, several options were calculated by reviewing high value properties, all properties owned by Idaho Central Credit Union, properties recently developed such as apartment complexes and all properties along Yellowstone Avenue and Chubbuck Road. These values are shown in Table 4. Certainly, this is a broad -brush approach and includes properties that could be developed or redeveloped. Other options 26 could include removing sub -area 5, the boundary to reduce the value if they removing as many residential properties choose to move forward with a new as possible in order to keep more of the Urban Renewal District and Revenue commercial spaces, or removing some of Allocation Area. The adjusted base values the side streets and their adjacent and percentage of City valuation columns properties. The CDA and City of are cumulative. Chubbuck will need to carefully evaluate $4,697,541 TABLE 4 Property Values to Consider Removing from Proposed Boundary ICCU Properties $58,302,878 $247,085,802 18.3% Diamond Circle $4,289,268 $242,796,534 18.0% Apartments Burley Apartments $4,697,541 $238,098,993 17.6% Rainbow Road $3,944,539 $234,154,454 17.3% Properties Briscoe Road $1,722,530 $227,031,924 16.8% Apartments Jordan Loop $3,173,464 $223,858,430 16.6% Apartments All Properties on $15,659,907 $208,198,523 15.4% Chubbuck Road All Properties on $41,596,806 $166,601,717 12.3% Yellowstone Ave. Other Selected $16,795,348 $149,806,369 11.1% Properties Above $1M Other Selected $16,272,425 1 $133,533,944 1 9.9% Properties Above $500K 27 Findings To find a study area is eligible for the creation of a URA and RAA, the Study Area must contain one or more of the statutory criteria spelled out in Idaho Code Sections 50-2018(8), (9), and 50- 2903(8), and to the extend there is open land, the statutory criteria in Idaho Code Section 50-2903(8)(c). Below are the criteria and a brief discussion of the findings. '*'! The Presence of a Substantial Number of Deteriorated or Deteriorating Structures and Deterioration of the Site There are deteriorating structures in the Study Area, most of them older residential buildings or accessory structures on residential lots. These are most pronounced in sub -area 4 as well as the older mobile home parks found in sub -areas 1 and 2. With the mobile homes in particular, there are several structures in a severe state of deterioration. Many of the roads in the Study Area are also deteriorating. Each of the sub -areas have roads and sidewalks that are showing signs of deterioration. These are most pronounced on the private roads such as Mingo and Afton. It is also evident in areas adjacent to undeveloped lots or lots which have gravel parking or storage. The gravel is making its way to the roadway and contributing to faster deterioration. This criterion is met. 02 Age or Obsolescence Structures in the Study Area range in construction date from 1920 to 2022. Older structures are found in pockets in each of the sub -areas, many of which were built between 1950-1980. It is unlikely these structures meet current fire and building codes. This is especially true of the older residential structures and mobile homes. There are also several conditions which contribute to the obsolescence of the area in terms of ability to develop and redevelopment. These include lack of connected roadways, leading to long dead-end roads, vacant land surrounded by residential properties with large rear yards, and a land use mix that puts incompatible uses and zones on the same streets or next to each other, such as mobile homes next to industrial or heavy commercial. This criterion is met. 28 03 Predominance of Defective or Inadequate Street Layout There are some positive features of the street layout in the Study Area. Yellowstone Avenue, Chubbuck Avenue, and New Day Parkway provide excellent connectivity across the city and with the rest of the region through direct access to 1-15 and 1-86. However, the Study Area is also full of disconnected streets. In some cases, such as West Linden, the existing dead-end road will eventually connect to future development with a clear connection point. In other situations, such as Mingo, Briscoe, and Afton, the roadway is private or a combination of public and private and doesn't have a clear path to connectivity. In the case of Afton, which is classified as a future collector, it is broken up by a storage unit complex. Similarly, Highway Avenue is identified as a future minor arterial but must cross the railroad and private land that includes existing structures. This criterion is met. Off Outmoded Street Patterns Similar to the criterion above, the disrupted connectivity creates challenges for access and development. In addition, there are two features of the current street pattern that are also outmoded. First is the abundance of access points on the principal arterials. This disrupts traffic flow and creates multiple overlapping points of potential conflict for moving traffic. For example, on the east side of Yellowstone between Knudsen and West Linden, a road segment of about 600 feet contains 4 access points, including the cross streets. In this length, ideally there would be no direct access points between the roadways and access to the properties would come from the side streets. Some of these issues have been addressed through redevelopment. Other solutions are identified in the Bannock Transportation Planning Organization's (BTPO) Yellowstone Corridor plan through raised medians and access closures. The current conditions on these principal arterials, however, remain outmoded. The second feature that is outmoded in the street pattern, as identified by the ULI Technical Advisory Report, is the lack of a connected bicycle and pedestrian network. This is a combination of lack of curb, gutter, and sidewalk in many areas, lack of a signage and wayfinding system, lack of bike lanes on more major roadways, and sidewalks that are too narrow for the adjacent roadway speeds and which are not separated from traffic by features such as landscaping. 29 05 Need for Correlation of the Area with Other Areas of Municipality by Streets & Modern Traffic Requirements As has already been noted in the previous two criteria, the principal arterials in the Study Area provide excellent connectivity across the city and to the region. The local roads and collectors, however, are broken up and disconnected throughout the Study Area, in some cases with no clear path forward for connectivity. Per information received from City of Chubbuck Public Works, there are also several intersections which need to be widened to accommodate current and anticipated traffic volumes. This criterion is met. ON 11 Faulty Lot Layout in Relation to Size, Adequacy, fto Accessibility, or Usefulness; Obsolete Platting The Study Area contains several sections of vacant land large enough for modern development. This is especially true in sub -area 2 with Legacy Park and sub -area 3 along Knudsen Boulevard. There are other areas that contain sufficient land for development are challenging due to the presence of existing structures and homes, lack of access, lack of platting, and state of deterioration. In sub -area 1 examples include some of the vacant land east of Stuart, the parcel east of Lisa and the vacant land south of Mingo. In sub -area 2, the lots between Laurel and Ward will need to be assembled and platted in order to be viable for development. In sub -area 3, the lands on the north and south side of West Linden have sufficient space for development but are owned by multiple parties. Sub -area 4 includes examples such as the land between Evans and East Linden and between East Linden and Chubbuck Road. Sub -area 5 is also largely unplatted and will require creative assembly of land to make the area developable. This criterion is met. 07 Unsuitable Topography Most of the Study Area is flat and topography does not pose a challenge to development. The one exception to this is on the parcels in sub -area 4 between Kingport Crossing and Chubbuck Road. There is a fairly significant drop in elevation between these two streets. There are also some challenges adjacent to canals and the railroad in terms of topography. Based on a review of the soils in the area, while there may be some areas with boulders that will make excavation challenging, they are not severe enough to prevent development. This criterion is not met. 30 Insanitary or Unsafe Conditions During the site visit to the Study Area, there were no obvious signs of insanitary conditions. There are several features which are unsafe. First, as noted in the criterion above, there are areas where residential structures are in a severe state of deterioration and likely do not meet modern building and fire codes. Second, again as already noted in criterion above, the street network and lack of appropriate bicycle and pedestrian conditions create unsafe traffic conditions. Access points on principal arterials create overlapping points of conflict for all turning movements and disrupt and slow traffic on a road where vehicles expect to be moving at higher speeds. There are also several streets with either no curb, gutter, or sidewalk or significant gaps in this infrastructure. Finally, the bicycle and pedestrian facilities on Yellowstone and Chubbuck Road are inadequate to provide safe mobility. This criterion is met. Diversity of Ownership Diversity of Ownership will be a major challenge to development and redevelopment in the Study Areas. According to information received from Bannock County there are 869 parcels in the Study Area and 464 different owners. While some areas such as the lands around Knudsen Boulevard and Legacy Park have already been assembled and appear to be developing under a single ownership, the other vacant lands that should provide opportunities for growth are often made up of multiple owners. Further, in many cases, such as in sub -areas 1 and 5, the owners still live on the properties. Assembly of land will be a major challenge for development in the Study Area. This criterion is met. Tax or Special Assessment Delinquency Taxes and special assessments were not evaluated for this report. This criterion is not met. Defective or Unusual Conditions of Title Conditions of title were not evaluated for this report. This criterion is not met. 31 Existence of Conditions which Endanger Life or Property by Fire & Other Causes There are four conditions which may endanger life or property by fire or other causes. First, as noted in the utility section, there are several fire hydrants which do not have adequate fire flow for future growth. Second, as noted above, there are many structures in the Study Area built in the middle of the 20th century and likely do not meet current building or fire codes. There was evidence of severe deterioration in residential structures, especially in some of the older mobile home parks. Third, the lack of adequate pedestrian infrastructure is a condition which endangers life, as is the overabundance of access points on principal arterials. There are several long dead-end roads which also presents a fire hazard due to lack of adequate ingress and egress in an emergency. Fourth, lack of curb and gutter can present a minor threat of flood damage during high snow years and potential quick thaws. Similarly, the canal at the north end of Yellowstone is uncovered and does not have much of a bank to prevent any overflow. This is a very minor threat, but still a potential for flooding. This criterion is met. 13 Substantially Impairs or Arrests the Sound Growth of Municipality Several of the criteria already discussed do contribute to the impairment of sound growth. First, Lack of street connectivity with some difficulty in achieving connection. Second, an abundance of inadequate street and pedestrian infrastructure with limited budgets to address the issues. Third, the utility services, especially lack of adequate fire flows to hydrants and lack of lift station capacity will limit the Study Areas' ability to grow. Diversity of ownership and the current land use mix will be very challenging to deal with and, based on observations from the site visit, have already contributed to some unusual and challenging growth patterns. This criterion is met. 14 Conditions which Retard Development of the Area AND Results in Economic Underdevelopment of the Area & Economic Disuse The description of conditions that reflect these criteria are very similar to criterion 13. Lack of connectivity, inadequate utility infrastructure in certain 32 14 areas, the mix of land uses, and diversity of ownership all contribute to development and redevelopment challenges as well as economic underdevelopment. In certain areas such as Burnside, there are uses that are appropriate, but which are aging and not reflective of the arrival moment Chubbuck wishes to create at the 1-86 interchange or the strong, modern commercial development happening on the south side of the freeway. Sub -area 4 is greatly strengthened by the presence of ICCU and the city's vision for a civic center but is need of tools to assist in assembling land and reducing barriers to market entry. These criteria are met. M Conclusion The Study Area meets one or more of the criteria for eligibility under Idaho Code Sections 50-2018(8) and (9) and 50-2903(8). Though portions of the Study Area are actively being developed, there are significant challenges created by the disconnected and inadequate street network, lack of adequate public infrastructure and diversity of ownership throughout. Table 5 summarizes the findings of eligibility for the study area, which is also provided in the executive summary. It is noted here again that the Study Area as currently drawn does not meet the 10% base value limitation requirement and will need to be reduced prior to moving forward with district creation. However based on preliminary review of the valuation data, this is an achievable adjustment. VACANT FIELD EAST OF LINDA 01pr 33 TABLE 5 Summary of Eligibility Criteria Substantial Deterioration There are structures, mainly residential, throughout of Site O the Study Area which are deteriorating. There are also several roads, both public and private which are deteriorating. Age or Obsolescence Buildings in the Study Area range in construction date from 1920-2022, many coming in the O mid -20th century. The layout and street network is obsolete in many areas of the Study Area in terms of the ability to support modern development. Predominance of Defective Although the principal arterials in the area provide Street Layout or Inadequate excellent access, there are numerous roads which Street Layout do not connect to any other right-of-way. There are several roads which are both public and private, creating potential conflicts. Outmoded Street Patterns Besides the lack of connectivity of several of the O collectors and local roads, there are too many access points on the principal arterials and a lack of adequate bicycle and pedestrian infrastructure. Need for Correlation of Area O Based on information provided by City of Chubbuck with Other Areas of by Streets Public Works, there are several intersections which and Modern Traffic need widening in order to accommodate current Requirements and projected traffic. There are also streets lacking adequate infrastructure. There are numerous roads that do not connect and do not have a clear, viable path to future connection. Faulty Lot Layout There are several portions of the Study Area O which are not platted or where several vacant lots will need to be assembled in order to provide sufficient space for modern development. Unsuitable Topography There are some small areas with elevation changes © and where sub -surface boulders may exist, they are not severe enough to prevent development without significant remediation. Insanitary or Unsafe Conditions Numerous structures throughout the Study Area are O older and deteriorating and likely do not meet modern building and fire codes. There are fire hydrants supporting the area that need upgrades in order to provide adequate fire flow. The lack of bicycle and pedestrian infrastructure is unsafe for non -vehicular traffic. 34 TABLE 5 Summary of Eligibility Criteria Diversity of Ownership 53% of the 869 parcels in the Study Area are under O unique owners. This creates significant challenges around the vacant parcels that could be developed if land were assembled. Tax or Special Assessment © Not evaluated for this report. Delinquency Defective or Unusual © Not evaluated for this report. Conditions of Title Existence of Conditions Which As previously noted, within the Study Area there Endanger Life or Property are deteriorating structures, too many access points on principal arterials, inadequate bicycle and pedestrian infrastructure, and anticipated lack of adequate fire flow to support growth. Impairs or Arrests the Sound To support growth, existing intersections need to Growth of a Municipality O be widened, lift stations need to be upgraded, and increased fire flow capacity is needed to several hydrants. In addition, the lack of a connected street network and diversity of ownership on and around otherwise developable parcels impair the ability of the Study Area to develop and redevelop. Retards Development Inadequate public infrastructure and diversity of of the Area ownership are primary drivers of slowed growth in the area. The mix of existing uses is also challenging. Economic Underdevelopment O See above. and Economic Disuse UNDEVELOPED LOT ON EAST END OF CLOVER DELL Aw VACANT LOT ON WEST END OF CLOVER DELL k -iWoupw 35 ■ APPENDIX A: Additional Site Photos EAST END OF HIGHWAY DAMAGED DRAIN AREA ON LAUREL LOOKING EAST ALONG HIGHWAY r r GRAVEL IN RIGHT-OF-WAY & ACCESS TO STORAGE YARD ON LAUREL fir.. LOOKING EAST ALONG LAUREL LOOKING WEST ALONG LAUREL 36 APPENDIX A VACANT LOT ON NORTH SIDE OF LAUREL LOOKING WEST ALONG PARK LAWN VACANT LAND ALONG PARK LAWN ADDITIONAL SITE PHOTOS LOOKING NORTH ALONG PARK LAWN NORTHERN STUDY AREA BOUNDARY VIEW WEST OF PARK LAWN 37 APPENDIX A _0. t LOOKING SOUTH ALONG VALENTI OVERGROWN SIDEWALK ON VALENTI ADDITIONAL SITE PHOTOS GRAVEL AND DAMAGED SIDEWALK ON VALENTI - Yrs-�4 •� - 1 MISSING SIDEWALK ON VALENTI Aimk� F F , L I VACANT FIELD ON WEST SIDE OF VALENTI 38 APPENDIX A VACANT PROPERTY ON VALENTI LOOKING EAST ALONG WARD VACANT LOT ON NORTH SIDE OF WARD ADDITIONAL SITE PHOTOS CRACKED ASPHALT ON WARD LOOKING WEST ALONG WARD LOOKING NORTH FROM KNUDSEN AND AFTON 39 APPENDIX A NEW APARTMENTS ON KNUDSEN NORTH END OF AFTEN FROM KNUDSEN UNDEVELOPED LAND NORTH SIDE OF KNUDSEN ADDITIONAL SITE PHOTOS i s NEW DEVELOPMENT AT WEST END OF KNUDSEN RAISED AREA AT WEST END OF KNUDSEN VACANT LOT EAST OF AFTON 40 APPENDIX A ADDITIONAL SITE PHOTOS VACANT LOT ON NORTH SIDE OF KNUDSEN EAST END OF PARRISH LOOKING EAST ALONG PARRISH LOOKING WEST ALONG PARRISH WEST LINDEN SIDEWALK ON WEST LINDEN 41 APPENDIX A ADDITIONAL SITE PHOTOS _ - �'h ; P•°r-": •�; :.r�r:,,.- .yam -. •4 �"•._ � s KGF• �- .`. Jjr.r.y - . '. �•�`. N" :, 5:��"`.-`. . WEST LINDEN ADDITIONAL MISSING SIDEWALK ON W. LINDEN jaw CONSTRUCTION STORAGE ON NORTH SIDE OF W. LINDEN CRACKED SIDEWALK AND GRAVEL IN RIGHT-OF-WAY CRACKED SIDEWALK ON W. LINDEN DAMAGED SIDEWALK ON W. LINDEN 42 APPENDIX A DETERIORATING CURB AND GUTTER ON W. LINDEN LIFTED SIDEWALK ON W. LINDEN LOOKING NORTH FROM W. LINDEN AND AFTON ADDITIONAL SITE PHOTOS GAP IN SIDEWALK ALONG W. LINDEN LOOKING EAST ALONG W. LINDEN LOOKING WEST ALONG W. LINDEN 43 APPENDIX A ADDITIONAL SITE PHOTOS A... tl MISSING SIDEWALK ON W. LINDEN NEW TOWNHOMES AT WEST END OF W. LINDEN SIDEWALK ENDING AT DITCH ON W. LINDEN VACANT LOT WEST OF W. LINDEN WEST ALONG W. LINDEN 44 APPENDIX A CORNER OF ZEBE AND BURNSIDE LOOKING WEST ALONG BURNSIDE VACANT LOT WEST OF BURNSIDE AND ZEBE ADDITIONAL SITE PHOTOS LOOKING EAST ALONG BURNSIDE VACANT LOT SOUTH SIDE OF BURNSIDE ENTRANCE TO CONSTRUCTION YARD ON EAST SIDE OF BURLEY 45 APPENDIX A ADDITIONAL SITE PHOTOS GRAVEL IN RIGHT-OF-WAY FROM YARD ON EAST SIDE OF BURLEY LOOKING NORTH FROM BURLEY AND KINGSPORT CROSSING LOOKING SOUTH ON BURLEY SIDEWALK DETERIORATION ON BURLEY DUE TO GRAVEL SIDEWALK ON EAST SIDE OF BURLEY STORAGE LOT ON EAST SIDE OF BURLEY 46 A4 t •may . 7. _ i� Y�.p�,T�;.��-�'�"�; _ SIDEWALK DETERIORATION ON BURLEY DUE TO GRAVEL SIDEWALK ON EAST SIDE OF BURLEY STORAGE LOT ON EAST SIDE OF BURLEY 46 APPENDIX A DAMAGED CURB ON CHUBBUCK ROAD INTERSECTION OF CHUBBUCK ROAD AND YELLOWSTONE UNEVEN SIDEWALK ON CHUBBUCK ROAD ADDITIONAL SITE PHOTOS DETERIORATING SIDEWALK ON CHUBBUCK ROAD LOOKING WEST ALONG CHUBBUCK ROAD VACANT LOTS BETWEEN CHUBBUCK ROAD & KINGSPORT CROSSING 42 APPENDIX A DAMAGED CURB CUT AT E. LINDEN AND YELLOWSTONE LOOKING EAST ALONG E. LINDEN LOOKING SOUTH FROM E. LINDEN AND YELLOWSTONE ADDITIONAL SITE PHOTOS LOOKING NORTH FROM E. LINDEN AND YELLOWSTONE moppop—, LOOKING WEST ALONG E. LINDEN 47 APPENDIX A ADDITIONAL SITE PHOTOS UNDEVELOPED LOT ON E. LINDEN VACANT LOT ON E. LINDEN LOOKING EAST ON EVANS LOOKING WEST ON EVANS VACANT LOT ON EVANS DEBRIS ON VACANT LOT NORTH OF SCOUT MOUNTAIN WAY 48 APPENDIX A ADDITIONAL SITE PHOTOS DETERIORATING OUTBUILDINGS NORTH OF SCOUT MT. WAY s -- , LOOKING EAST FROM KINGSPORT CROSSING LOOKING SW FROM SCOUT MT WAY & KINGSPORT CROSSING UNDEVELOPED LOT NORTH OF KINGSPORT CROSSING WEST END OF CALLAWAY 49 ■ APPENDIX B: Steps in Creating a URA &Revenue Allocation Area (RAA) If an urban renewal agency is in existence in a community, the creation of an urban renewal area, including a revenue allocation area (required for use of tax increment financing), begins with an eligibility report for a designated area within the community. The central question for an eligibility report is whether the study area has at least one of the statutory characteristics which must be found to be considered eligible for urban renewal activities. These characteristics or criteria are: 1. The presence of a substantial number of deteriorated or deteriorating structures and deterioration of site [50-2018(9), 50-2903(8)(b) and (8)(c), and 50-2008(d)(4)(2)], 2. Age or obsolescence [50-2018(8) and 50-2903(8)(a)], . 3. Predominance of defective or inadequate street layout [50-2018(9) and 50-2903(8)(b)], 4. Outmoded street patterns [50-2008(d)(4)(2)], 5. Need for correlation of area with other areas of municipality by streets and modern traffic requirements [50-2008(d)(4)(2)], 6. Faulty lot layout in relation to size, adequacy, accessibility, or usefulness; obsolete platting [50-2018(9), 50-2903(8)(b) and (8)(c)], and 50-2008(d)(4)(2)] 7. Unsuitable topography [50-2008(d)(4)(2)], 8. Insanitary or unsafe conditions [50-2018(9), 50-2903(8)(b)], 9. Diversity of ownership [50-2018(9), 50-2903(8)(b) and (8)(c), and 50-2008(d)(4)(2)], 10. Tax or special assessment delinquency [50-2018(9), 50-2903(8)(b)], and 50-2008 (d)(4)(2)] 11. Defective or unusual conditions of title [50-2018(9), 50-2903(8)(b) and (8)(c), and 50-2008(d)(4)(2)], 12. Existence of conditions which endanger life or property by fire and other causes [50-2018(9), 50-2903(8)(b)], 13. Substantially impairs or arrests the sound growth of a municipality and is a menace to the public health, safety, morals or welfare [50-2018(9), 50-2903(8)(b) and 8(c)], 14. Conditions which retard development of the area [50-2008(d)(4)(2)], and 15. Results in economic underdevelopment of the area [50-2903(8)(b)] and economic disuse [50-2008(d)(4)(2)]. If it is determined the Study Area has characteristics which meet one or more of the statutory criteria listed above, the CDA may accept the eligibility report and request its consideration by the governing body. No URA can be formed unless the City Council adopts a resolution finding the area under consideration is deteriorated or deteriorating 50 due to such characteristics, the redevelopment of the area is necessary for the welfare of the residents, and the area is appropriate for an urban renewal project. The resolution approved by City Council authorizes the agency to prepare a plan for the proposed urban renewal area. The urban renewal area plan is to include the following with specificity: 1. A statement describing the total assessed valuation of the base assessment roll of the revenue allocation area and the total assessed valuation of all taxable property within the municipality; 2. A statement listing the kind, number, and location of all proposed public works or improvements within the revenue allocation area; 3. An economic feasibility study; 4. A detailed list of estimated project costs; 5. A fiscal impact statement showing the impact of the revenue allocation area, both until and after the bonds are repaid, upon all taxing districts levying taxes upon property on the revenue allocation area; 6. A description of the methods of financing all estimated project costs and the time when related costs or monetary obligations are to be incurred; 7. A termination date for the plan and revenue allocation area as provided for in section 50-2903(20), Idaho Code. In determining the termination date, the plan shall recognize that the agency shall receive allocation of revenues in the calendar year following the last year of the revenue allocation provision described in the urban renewal plan; 8. A description of the disposition or retention of any assets of the agency upon the termination date. Provided however, nothing herein shall prevent the agency from retaining assets or revenues generated from such assets as long as the agency shall have resources other than revenue allocation funds to operate and manage such assets; Once the plan is prepared and approved by the CDA, it is forwarded to the City Council. Prior to the public hearing before the City Council, the City Council forwards the plan to the City Planning and Zoning Commission for its determination that the plan conforms to the City's comprehensive plan. At least thirty (30) days prior to the public hearing, a copy of the notice and plan is distributed to the taxing entities overlapping the boundaries of the proposed district. After receiving the recommendation of the commission, and after notice fully published, the public hearing is held. The City Council must approve an urban renewal plan, including revenue allocation financing provisions, by an ordinance. If the ordinance is adopted by the City Council, a copy of the ordinance with legal description of the RAA is distributed to all the overlapping taxing entities, county officials and the State Tax Commission. By state statute, following adoption of the ordinance, the RAA is effective January 1, of the year in which it is adopted. The RAA has a maximum life of twenty years under Idaho statutes. The urban renewal agency implements the plan adopted by the City Council. M . APPENDIX C: Open Lands Analysis The Study Area has been subject to recent development. Portions of the Study Area could be considered a traditional "greenfield" area and does not include agricultural land. There are several parcels vacant and large enough for modern development. Idaho Code Section 50-2903(8)(c) states: "Any area which is predominately open and which because of obsolete platting, diversity of ownership, deterioration of structures or improvements, or otherwise, results in economic underdevelopment of the area or substantially impairs or arrests the sound growth of a municipality. The provisions of section 50-2008(d), Idaho Code, shall apply to open area S.118 The eligibility criteria set forth in Idaho Code Section 50-2903(8)(c) for predominantly open land areas mirror or are the same as those criteria set forth in Idaho Code Sections 50-2018(9) and 50-2903(8)(b). "Diversity of ownership" is the same, while "obsolete platting" appears to be equivalent to "faulty lot layout in relation to size, adequacy, accessibility, or usefulness" "Deterioration of structures or improvements" is the same or similar to "a substantial number of deteriorated or deteriorating structures" and "deterioration of site or other improvements" There is also an additional qualification that the provisions of Idaho Code Section 50-2008(d) shall apply to open areas. Idaho Code Section 50-2008 primarily addresses the urban renewal plan approval process and Idaho Code Section 50-2008(d)(4) sets forth certain conditions and findings for agency acquisition of open land as follows: The urban renewal plan will afford maximum opportunity, consistent with the sound needs of the municipality as a whole, for the rehabilitation or redevelopment of the urban renewal area by private enterprise: provided, that if the urban renewal area consists of an area of open land to be acquired by the urban renewal agency, such area shall not be so acquired unless (1) if it is to be developed for residential uses, the local governing body shall determine that a shortage of housing of sound standards and design which is decent, safe and sanitary exists in the municipality; that the need for housing accommodations has been or will be increased as a result of the clearance of slums in other areas; that the conditions of blight in the area and the shortage of decent, safe and sanitary housing cause or contribute to an increase in and spread of disease and crime and constitute a menace to the public health, safety, morals, or welfare; and that the acquisition of the area for residential uses is an integral part of and essential to the program of the municipality, or (2) if it is to be developed for nonresidential uses, the local 52 The urban renewal plan will afford maximum opportunity, consistent with the sound needs of the municipality as a whole, for the rehabilitation or redevelopment of the urban renewal area by private enterprise: provided, that if the urban renewal area consists of an area of open land to be acquired by the urban renewal agency, such area shall not be so acquired unless (1) if it is to be developed for residential uses, the local governing body shall determine that a shortage of housing of sound standards and design which is decent, safe and sanitary exists in the municipality; that the need for housing accommodations has been or will be increased as a result of the clearance of slums in other areas; that the conditions of blight in the area and the shortage of decent, safe and sanitary housing cause or contribute to an In sum, there is one set of findings if the area of open land is to be acquired and developed for residential uses and a separate set of findings if the land is to be acquired and developed for nonresidential uses. Basically, open land areas may be acquired by an urban renewal agency and developed for nonresidential uses if such acquisition is necessary to solve various problems, associated with the land or the infrastructure, that have delayed the area's development. These problems include defective or usual conditions of title, diversity of ownership, tax delinquency, improper subdivisions, outmoded street patterns, deterioration of site, and faulty lot layout. All the stated conditions are included in one form or another in the definition of a deteriorated area and/or a deteriorating area set forth in Idaho Code Sections 50-2903(8)(b) and 50-2018(9). The conditions listed only in Section 50-2008(d)(4)(2) (the open land section) include economic disuse, unsuitable topography, and "the need for the correlation of the area with other areas of a municipality by streets and modern traffic requirements, or any combination of such factors or other conditions which retard development of the area." The conclusion of this discussion concerning open land areas is that the area qualifies if any of the eligibility conditions set forth in Idaho Code Sections 50-2018(9) and 50-2903(8)(b) apply. Alternatively, the area under consideration qualifies if any of the conditions listed only in Idaho Code Section 50-2008(d)(4)(2) apply. As set forth in greater detail above, there are conditions of faulty lot layout and certain unsafe conditions within the Study Area. Based on the above analysis, the Study Area does not appear to be "predominantly open land," which is not a defined term, but contains "greenfield" and agricultural operations, therefore the open land condition is satisfied. 53 /ao,i CHUBBUCK 1 0 A H D 290 East Linden Avenue, Chubbuck, ID 83202 208.237.2400 Fax 208.237.2409 www.CityofChubbuck.us October 3, 2025 Bannock County Ambulance Attn: Ryan O'Hearn, Chief 408 E. Whitman Pocatello, ID 83201 Email: pocatellofire@pocatello.gov RE: Urban Renewal Plan for the Yellowstone Corridor Urban Renewal Project Dear Chief. By letter dated September 10, 2025, the Bannock County Ambulance District received a copy of a formal notice that was published in the Idaho State Journal on Friday, September 12 and 26, 2025, advising that the Chubbuck City Council will hold a public hearing in the Chubbuck City Council Chambers, 290 East Linden Avenue, Chubbuck, Idaho, 83202 on Wednesday, October 15, 2025, at 6:00 p.m., to consider for adoption the Urban Renewal Plan for the Yellowstone Corridor Urban Renewal Project (the "Plan") of the Urban Renewal Agency of the City of Chubbuck, Idaho, also known as the Chubbuck Development Authority (the "Agency"). Fallowing the public hearing, the City Council may consider an ordinance adopting the Plan. Based on the 2025 legislative amendments to Idaho Code § 50-2906(4), the City is seeking Bannock County Ambulance District's consent to be included within the Plan's revenue allocation area (the "Plan RAA") and subject to the financing provisions of the Plan RAA by adopting a resolution. The process is outlined in the statutory provision below: (4) No fire protection district or ambulance service district shall be subject to the financing provisions of an urban renewal revenue allocation area, or any modification thereof, created or modified after July 1, 2025, unless the local governing body of the authorized municipality proposing to create or modify such financing provision requests such district to consent to be subject to the financing provision and the district receiving such request consents. To request such a district to consent, the local governing body of an authorized municipality shall send a request to the district at the same time it sends notice to taxing districts of its intent to create or modify an urban renewal plan that includes a revenue allocation financing provision pursuant to subsection (3) of [I.C. 50-2906]. If the governing board of the district receiving a request to consent agrees with the request, it shall adopt a resolution providing that such district shall be subject to the financing provisions of the proposed urban renewal area plan or proposed urban renewal area plan modification that was identified in the request and shall thereafter be subject to such financing provision. The consenting district shall, within ten (10) business days, file a copy of the resolution with the local governing body of the authorized municipality. Upon receipt of the district's resolution consenting to be subject to the financing provision, the governing body of the municipality shall transmit a copy of such resolution to the county clerk and the state tax commission within ten (10) business days. A copy of the Plan and Agency Resolution No. 2025-2 adopted by the Agency Board on Tuesday, August 19, 2025, were previously provided, however, all of the referenced documents can be located at https://www.dropbox.coin/sc!/fo/w07lgoof45cgSulbcejbk/AObA6HV7EPg6O3BYg32GfgE?rlke y=iz9hhgp 3w945xxhlzh7sjab0v&d1=0. A copy of the Plan is also available at City Hall for your review. You are encouraged to provide your comments, either in writing or at the public hearing. In the event you would like to schedule a separate meeting to discuss the Plan, representatives of the City will make themselves available to explain the Plan. J jr-s, City Clerk Enclosures cc: Meghan S. Conrad Ashley Squyres Daniel Heiner Ryan Lewis, Chubbuck City Attorney 4933-2271-9850, v. 1 Portneuf District Library 5210 Stuart Avenue Chubbuck, ID 83202 (208) 237-2192 9/25/2025 Chubbuck City Council 5160 Yellowstone Avenue Chubbuck, ID 83202 RE: Opposition to the Proposed Yellowstone Corridor Urban Renewal Area To Mayor England and Members of the Chubbuck City Council, As the Board of Trustees for Portneuf District Library, we are writing to express our formal opposition to the proposed Yellowstone Corridor Urban Renewal Area as currently outlined. While we support strategic community development and efforts to improve infrastructure and economic opportunity, the size and scope of this proposed urban renewal district raise significant concerns. The boundaries encompass an extensive area of the city—well beyond what appears necessary to target underdeveloped land and areas. Our primary concerns are as follows: 1. Overly Broad Scope: The large area included in the proposal lacks a focused and well -justified strategy. A wide-ranging district reduces the purpose and measurable impact of urban renewal, making it difficult to ensure public funds are used efficiently and effectively. 2. Limits on Future Urban Renewal Opportunities: The establishment of such a large district may restrict the City's flexibility to create additional urban renewal areas in the future. Idaho's statutory limits on the percentage of total community acreage that can be designated for urban renewal could be quickly exhausted by this single proposal, potentially limiting the opportunity to address future needs in other areas of the city. 3. Impact on Taxing Districts: As a public library serving the community, we are concerned about the long-term redirection of property tax revenue through tax increment financing (TIF). A district of this size could significantly affect the funding available for essential public services, including library operations that serve thousands of local residents annually. 4. Need for a Targeted Approach: Urban renewal efforts are most successful when they are focused on specific, clearly defined areas of need. We respectfully request that the City consider narrowing the scope of this proposal and provide greater transparency around the criteria used to determine the boundaries. The Portneuf District Library supports thoughtful, community -driven planning and investment. For example, the Brisco Road street connection outlined within this plan is a focused, strategic improvement which we fully support. However, we believe this proposal, as currently presented, requires further refinement to ensure it is sustainable and responsive to the needs of all local stakeholders. Thank you for your consideration, and we welcome the opportunity to engage in further discussions to find a more targeted and strategic path forward. Sincerely, Tia Schaffer, Chair Board of Trustees Portneuf District Library