HomeMy WebLinkAbout2008-005 Chubbuck Revenue Allocation District/0-N.
RESOLUTION OF THE CHUBBUCK DEVELOPMENT AUTHORITY
AND RESOLUTION No. 5 -2008 OF THE CHUBBUCK CITY COUNCIL
WHEREAS, The Chubbuck Development Authority was created April 11, 1992 by
resolution of the Chubbuck City Council;
WHEREAS, By Intergovernmental Agreement executed October 27, 1998 by the
Chubbuck Development Authority and the City of Chubbuck and November 23, 1998 by the
Bannock County Commissioners ( "Intergovernmental Agreement "), the Chubbuck Development
Authority and Bannock County resolved certain issues with the Chubbuck Urban Renewal Plan
that had been adopted by the City of Chubbuck by Ordinance No. 385;
WHEREAS, The Intergovernmental Agreement designated specific properties lying
within the City of Chubbuck that would be used for purposes of the Revenue Allocation District.
Chubbuck and the Chubbuck Development Authority now believe it is in the best interests of the
City and the Development Authority to adopt a policy setting forth the criteria by which a
developer could request and be granted reimbursement of certain improvements made within the
Chubbuck Urban Renewal District from funds derived from the Chubbuck Revenue Allocation
District;
Now therefore be it resolved by Mayor and City Council of the City of Chubbuck and the
Chubbuck Development Authority as follows:
The following criteria shall be applied in determining whether or not a developer
may be granted reimbursement from funds derived from the Chubbuck Revenue Allocation
District for improvements made by the developer:
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A. The developer must be improving property that is included within the
Chubbuck Revenue Allocation District as set forth in the
Intergovernmental Agreement between Chubbuck, Chubbuck
Development Authority and Bannock County. If a developer is developing
properties that are both within and without the Chubbuck Revenue
Allocation District, only the properties within the Revenue Allocation
District are qualified under this resolution although reimbursement could
be made for improvements to properties not within the Chubbuck Revenue
Allocation District but which are within the Chubbuck Urban Renewal
Area.
B. Reimbursement would be considered only for improvements that are
beneficial to the public and which would ultimately be taken over and
maintained by the City of Chubbuck. Examples of qualifying
improvements would be water lines, sewer lines, streets and curb, gutter
and sidewalk. Examples of improvements that would not qualify would
be gas, electricity, telephone cable, wireless communications and general
overhead for fees, design costs, permit costs and other such costs for both
qualifying and non - qualifying approvals.
C. The property being developed must be for commercial or industrial use.
Reimbursement will not be made for residential improvements, it being
the general purpose of the Chubbuck Urban Renewal area to develop and
enhance the economic base of the city.
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2. In considering a request for reimbursement, the plans approved by the City and
the Chubbuck Development Authority must generally be followed. Significant changes in the
plan must be brought back to the Development Authority and the City for subsequent approval
or, if such approval is not granted, reimbursement may be subsequently denied even though
initially approved.
3. Reimbursement shall be made based upon actual costs which shall be submitted
by the developer to the City with appropriate documentation to enable the City to review such
costs and verify those that are ultimately approved for reimbursement.
4. Once the amount of reimbursement is determined, the City and the developer will
agree to a schedule for the reimbursement provided however that no reimbursement shall be
made until funds are being generated from the Revenue Allocation District upon the specific
property being approved for reimbursement qualification.
5. The rate of reimbursement shall generally be such that the developer shall receive
90% of the annual funds collected by the City on that specific property from the Revenue
Allocation District and the City shall receive the balance.
6. If for some reason the funds received from the Chubbuck Revenue Allocation
District with respect to the specific property involved decrease or cease altogether, the City and
the Chubbuck Development Authority would have no responsibility to make reimbursements to
the developer from any other revenue sources.
7. Improvements eligible for reimbursement must be generally identified in the
City's comprehensive plan and be beneficial to the general public.
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8. Commercial or industrial development which would meet the definition of in -fill
set forth in Chubbuck Municipal Code 18.20.085 will qualify for reimbursement of 90 % of the
approved development costs that meet the foregoing criteria.
9. Development that meets the criteria set forth herein other than the in -fill criteria
shall qualify for reimbursement of 80% of the approved development costs that meet the
foregoing criteria
PASSED BY THE CHUBBUCK DEVELOPMENT AUTHORITY AND THE CITY
COUNCIL AND APPROVED BY THE MAYOR ON August 12, 2008.
England, Xteven M. f. .
ATTEST:
Ron C. Conlin, City Clerk
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