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HomeMy WebLinkAbout2023-04RESOLUTION NO. 2023-4 BY THE BOARD OF COMMISSIONERS OF THE URBAN RENEW AL AGENCY OF THE CITY OF CHUBBUCK, IDAHO A/K/A CHUBBUCK DEVELOPMENT AUTHORITY: A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE URBAN RENEWAL AGENCY OF THE CITY OF CHUBBUCK, IDAHO, A/KA THE CHUBBUCK DEVELOPMENT AUTHORITY, TO BE TERMED THE "TERMINATION BUDGET RESOLUTION" FOR THE 1992 CHUBBUCK DOWNTOWN IMPROVEMENT URBAN RENEWAL PLAN ("1992 PLAN"), AS AMENDED, SETTING FORTH THE PROJECTED REVENUES AND EXPENSES OF THE PLAN AREA AND APPROPRIATING SUMS OF MONEY AUTHORIZED BY LAW AND DEEMED NECESSARY TO DEFRAY ALL EXPENSES AND LIABILITY OF THE URBAN RENEWAL AGENCY FOR THE FISCAL YEAR COMMENCING OCTOBER 1, 2022, AND ENDING SEPTEMBER 30, 2023, FOR THE URBAN RENEWAL AREA AND REVENUE ALLOCATION AREA KNOWN AS THE 1992 DOWNTOWN IMPROVEMENT PLAN AREA, FOR ALL GENERAL, SPECIAL, AND CORPORATE PURPOSES; MAKING A DETERMINATION THAT THE PROJECT AREA CAN BE TERMINATED ON OR BEFORE DECEMBER 31, 2022; DIRECTING THE CHAIR, VICE -CHAIR, OR EXECUTIVE DIRECTOR R TO SUBMIT THE RESOLUTION AND TERMINATION BUDGET TO THE CITY OF CHUBBUCK AND ANY OTHER ENTITY ENTITLED TO A COPY OF THE RESOLUTION AND TERMINATION BUDGET; 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 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 "Agency." WHEREAS, by Resolution No. 4-92, dated April 11, 1992, the City Council of the City of Chubbuck, Idaho (the "City") created an urban renewal agency, pursuant to the Law; WHEREAS, the City Council, after notice duly published, conducted a public hearing on the Urban Renewal Plan Chubbuck Downtown Improvement Project (the "1992 Plan") to redevelop a portion of the City, pursuant to the Law and the Act; WHEREAS, the City Council, in response to the public hearing on October 27, 1992, by Resolution No. 11-92, amended City Council Resolution No. 4-92 and 7-92, to reduce the RESOLUTION 2023-4-1 geographic boundaries of the revenue allocation area, which resulted in removal of the northern parcels from the proposed revenue allocation area; WHEREAS, following said public hearing, the City Council adopted its Ordinance No. 385 on October 27, 1992, approving the 1992 Plan, and making certain findings; WHEREAS, the revenue allocation area boundaries were further administratively adjusted at the request of the Bannock County Assessor's Office by City Council Resolution No. 1-93, dated January 19, 1993, to avoid splitting parcels; WHEREAS, on or about November 23, 1998, the Agency, City, and the Bannock County Board of County Commissioners ("BOCC") and the Bannock County Assessor ("Assessor") ( collectively, the BOCC and Assessor may be referred to as "Bannock County") entered into the Intergovernmental Agreement With Respect to the Chubbuck Development Authority and its Urban Renewal Plan (the "IGA"), to address concerns generally related to the geographic size and value of the 1992 Plan revenue allocation area; WHEREAS, the parties to the IGA agreed to an informal partial deannexation from the 1992 Plan revenue allocation area by specifically listing the parcel numbers of the properties to remain within the revenue allocation area; all other parcels not listed were to be disregarded for purposes of calculating tax increment (revenue allocation). The Assessor continues to track the parcels included in the 1992 Plan revenue allocation area consistent with the terms of the IGA; WHEREAS, the boundary map and legal description of record with the State Tax Commission ("STC") were not updated to reflect the agreed upon changes in the IGA; WHEREAS, the City Council, on August 3, 2016, after notice duly published conducted a public hearing on the First Amendment to the Urban Renewal Plan Chubbuck Downtown Improvement Project (the "First Amendment"), which sought to deannex parcels from the 1992 Plan Area commonly referred to as the "Old CarMike" parcels; WHEREAS, following said public hearing, the City Council adopted its Ordinance No. 758 on August 3, 2016, approving the First Amendment and making certain findings; WHEREAS, the City Council, on August 3, 2016, after notice duly published conducted a public hearing on the 2016 Pine Ridge Mall Urban Renewal Area and Improvement Plan (the "Pine Ridge Mall Plan"); WHEREAS, the Agency intends to terminate the Plan Area in 2023 in accordance with the Plan and requirements of Idaho Code and will provide property notice to taxing entities in calendar year 2023 and will adopt a termination resolution in 2023 but is required by Idaho Code 50-2903(5) to 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 the January 1 of the termination year pursuant to the terms of section 50-2909(4), Idaho Code. RESOLUTION 2023-4-2 WHEREAS, pursuant to Idaho Code Sections 50-2006, 50-2903(5), and 50-1002, Agency staff prepared a termination budget for the 1992 Downtown Improvement Plan, as amended, and the Agency tentatively approved estimated expenditures for the fiscal year commencing October 1, 2022, and ending September 30, 2023, by virtue of its discussion at the Agency's Board meeting on July 19, 2022; WHEREAS, a public hearing for the termination budget of the 1992 Plan was scheduled for August 16, 2022 in Council Chambers at Chubbuck City Hall, located at 290 East Linden Ave., Chubbuck, Idaho and notice published in the Idaho State Journal on August 5th and 12th, 2022 (Attachment A), pursuant to Idaho Code Section 50-1002. WHEREAS, on August 16, 2022, pursuant to Idaho Code Section 50-1002, the Agency held a public hearing in Council Chambers at Chubbuck City Hall, located at 290 East Linden Ave., Chubbuck, Idaho on the proposed termination budget specifically for projected revenues and expenses of the plan and to make a determination as to whether the revenue allocation area could be terminated before January 1 of the termination year pursuant to section 50-2909(4), Idaho Code. WHEREAS, pursuant to Idaho Code Section 50-2006, the Agency is required to pass an annual appropriation resolution and submit the resolution to the City Clerk of the City of Chubbuck, Idaho on or before September 1, 2022; WHEREAS, pursuant to Idaho Code Section 50-2006, the Agency is required to pass a budget wherein expenditures do not exceed the budgeted amount; WHEREAS, the Agency has previously published notice of a public hearing to be conducted on September 19, 2023, at 5:30 p.m., in Council Chambers, located at 290 East Linden Ave., Chubbuck, Idaho, a copy of which notice is attached hereto and incorporated herein as Exhibit A; WHEREAS, on September 19, 2023, pursuant to Idaho Code Section 50-1002, the Agency held a public hearing in Council Chambers, located at 290 East Linden Ave., Chubbuck, Idaho on the proposed supplemental budget and considered public comment, along with Board input, on services, expenditures, and revenues planned for Fiscal Year 2023; 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/IUA CHUBBUCK DEVELOPMENT AUTHORITY, AS FOLLOWS: Section 1: That the above statements are true and correct. Section 2: That the sums of money, or as much thereof as may be authorized by law, needed, or deemed necessary to defray all expenses and liabilities of the Agency, as set forth in Exhibit A, which is annexed hereto and by reference made a part of this Resolution, reflecting no RESOLUTION 2023-4-3 changes from the proposed FY 2023 Supplemental Termination Budget which was published on September 5, and September 12, 2023, and the same are hereby appropriated for the general, special and corporate purposes and objectives of the Agency for the fiscal year commencing October 1, 2022, and ending September 30, 2023. Section 3: That the Chairman, Vice -Chairman or Executive Director shall submit a copy of this Resolution and Budget to the City of Chubbuck, and provide a copy of this Resolution to any other person or entity entitled to a copy of the Resolution and Budget. Section 4: That this Resolution shall be in full force and effect immediately upon its adoption and approval. PASSED AND ADOPTED by the Urban Renewal Agency of the City of Chubbuck, Idaho, on September 19, 2023. Signed by the Chair of the Board of Commissioners and attested by the Executive Director to the Board of Commissioners, on September 19, 2023. APPROVED: B Chair of the Commission ATTEST: Executive Director RESOLUTION 2023-4-4 ADM 413100ADM Legal Notice of Public Hearing Urban Renewal Agency of the City of Chubbuck, Idaho alkta Chubbuck Development Authority Proposed Supplemental Termination Budget for Chubbuck Downtown Improvement Plan District Only for Fiscal Year 2023 A public hearing for consideration of the proposed Supplemental Urban Renewal Agency Proj- ect budget for the fiscal year that begins October 1, 2022, and ends September 30, 2023 will be held in Council Chambers, located at 290 E. Linden Ave, Chubbuck, Idaho, on September 19, 2023, at 5:30 p.m., pursuant to Idaho Code §§ 50-2903(5). Written or oral comments about the proposed budget are welcome. Written comments may be submitted prior to the meeting to: Chub - buck Development Authority, c/o Devin Hillam, 290 E Linden Ave., Chubbuck, ID 83202. The Agency budget funds the programs, services, and capital projects that the Agency Board and the City Council have determined to be important to meet the Agency's strategic goals as described In the adopted urban renewal plans. Agency does not levy property taxes but rather, collects increment revenues generated in accordance with the urban renewal plans. Prior year revenues and expenditures are available on the full Agency published supplemental budget proposal for FY 2023. City Hall is accessible to persons with disabilities. Fund Name Property Tax Revenue (Increment) Chubbuck Improvement Revenue Allocation Fund Revenue Sources Other Than District Property Taxes Fund Balance Carryover Total Revenues -All Sources Fund Name Chubbuck Improvement Revenue Allocation Fund Professional Services, Insurances, & Publications Owner Participation Agreements or other Agreements (Knudsen & Arbor Court) Property Insurance Capital Improvements (New Day Parkway, Hawthorne Rd., & others) Administrative Expenses Preliminary Estimate of Cash to be remitted to County Fund Total Expenditures FY 2023 Projected Sur mlemental Revenues $ 2,450,000 32,100 201.113 $ 2.683.213 FY 2023 Proposed Supplemental Expenditures $ 55,000 448,213 2,100,000 80,000 $ 2.683.213 Budget Note: The Agency expects that all financlal obligations related to the Project Area will have been pro- vided for, and any outstanding obligations will be paid in full on or before September 30, 2023, with the exception of: any reimbursement agreements or notes that have expired, terminated or cancelled on their own terms; project cost overruns from current projects; project costs for unex- pected construction delays; and costs related to monitoring compliance of development occurring pursuant to the terms of a DDA. The Agency will have sufficient funds on deposit for payment of the final project costs, Agency operations and administrative fees and costs. The Agency owns certain real property in the Project Area as Identified by address below. The Agency intends to dispose of three (3) parcels to developers selected pursuant to a competitive selection process as outlined in Idaho Code § 50-2011. For each parcel, the Agency and developer have entered into an agreement to negotiate exclusively and are currently negotiating the terms of a DDA. Should the property transfers fail to close pursuant to the DDAs, the Agency will convey the parcels to the City for disposal. The properties'approximate addresses are 152 Evans Ln., 206 E. Linden Ave., and 339 E. Chubbuck Road, Chubbuck, ID 83202. Published: September 5,12, 2023 (ISJ848.413100)