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0749 PineRidge Mall Urban Renewal Plan AreaA,1 � X21515032 CITY OF CHUBBUCK, IDAHO ORDINANCE NO. `f% "1,,19 AN ORDINANCE OF THE CITY OF CHUBBUCK, IDAHO, ADOPTING THE PINE RIDGE MALL URBAN RENEWAL AREA PLAN; AUTHORIZING THE CITY CLERK TO TRANSMIT A COPY OF THIS ORDINANCE AND OTHER REQUIRED INFORMATION TO STATE AND COUNTY OFFICIALS AND OTHER TAXING ENTITIES; PROVIDING A SAVINGS AND SEVERABILITY CLAUSE; PROVIDING A REPEALER CLAUSE; PROVIDING FOR PUBLICATION OF THIS ORDINANCE BY SUMMARY; AND PROVIDING FOR AN EFFECTIVE DATE. BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF CHUBBUCK, IDAHO: RECITALS A. On April 11, 1992, pursuant to Resolution 04-92, the Mayor and City Council of Chubbuck created an urban renewal agency, the Chubbuck Development Authority, pursuant to Title 50, Chapter 20, Idaho Code, authorizing it to transact business and exercise the powers granted by the Idaho Urban Renewal Law of 1965, Idaho Code Title 50 Chapter 20, as amended, and the Local Economic Development Act, Idaho Code Title 50 Chapter 29, as amended. B. On June 17, 2015, the Mayor and City Council adopted Resolution 02-2015 determining certain property to be a deteriorated area, a deteriorating area or a combination thereof and designating such area as appropriate for an urban renewal project. C. On July 28, 2015, the Chubbuck Development Authority reviewed the Pine Ridge Mall Urban Renewal Plan and recommended to the Mayor and Chubbuck City Council that it be reviewed and approved by the City Council for public hearing. D. On August 24, 2015, a copy of the Pine Ridge Mall Urban Renewal Plan and Notice of Public Hearing was forwarded to the governing bodies of Bannock County, School District 25, Portneuf District Library, Bannock County Road & Bridge, Bannock County Ambulance District and Bannock County Mosquito Abatement District as well as the City of Chubbuck. E. On August 25, 2015, the required Notice of Public Hearing was published in the Idaho State Journal, the official newspaper for public notice in the City of Chubbuck, setting the public hearing date on the Pine Ridge Mall Urban Renewal Plan for October 21, 2015. Ordinance - Page 1 chubbuck080315.pine ridge ord.wpd u 21515032 F. On October 21, 2015, the Chubbuck City Council held a public hearing on consideration of the adoption of the Plan. G. The Idaho legislature enacted the Local Economic Development Act, Title 50 Chapter 29 ("Act") authorizing certain urban renewal agencies to adopt revenue allocation financing provisions as part of the urban renewal plans. The Plan presented by the agency contains a revenue allocation financing provision. H. As required by applicable law, the Plan contains the following information which was made available to the general public and all taxing districts with taxing authority in the project at least 30 days prior but not more than 60 days prior to the October 21, 2015 meeting of the Chubbuck City Council: 1. The kind, number and location of all proposed public works or improvements within the Revenue Allocation Area; 2. An economic feasibility study; 3. A detailed list of estimated project costs; 4. A fiscal impact statement showing the impact of the Revenue Allocation Area, both until and after the bonds are repaid, upon all taxing district levying taxes upon property on the Revenue Allocation Area; 5. A description of the methods of financing all estimated project costs and the time when related costs or monetary obligations are to be incurred; 6. 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; 7. 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. I. Appropriate notice of the Plan and the revenue allocation provision contained therein has been given to the taxing districts and to the public as required by Idaho Code §50-2906. It is necessary and in the best interest of the citizens of the City of Chubbuck to adopt the Plan including revenue allocation financing provisions, since revenue allocation will help finance the urban renewal project to be completed in accordance with the Plan in order to encourage private Ordinance - Page 2 chubbuck080315.pine ridge ord.wpd k1b `, `,, 21515032 development in the Project Area, prevent and arrest decay of the Project Area due to the inability of existing financing methods to provide needed public improvements, encourage taxing districts to cooperate in the allocation of future tax revenues arising in the Project Area in order to facilitate the long-term growth of their common tax base, encourage private investment in the area and further the public purpose of the Agency. NOW THEREFORE, BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF CHUBBUCK, IDAHO: Section 1. It is hereby found and determined that: A. The Pine Ridge Mall Urban Renewal Area, defined in Resolution No. 02-2015, the legal description of which is more particularly described on Exhibit "C" attached hereto, continues to be deteriorated or a deteriorating area as defined in the Idaho Urban Renewal Law of 1965 (the "Law") and qualifies as an eligible urban renewal area under the Law; and B. The rehabilitation, conservation and redevelopment of the Project Area pursuant to the Plan is necessary in the interest of the public health, safety and welfare of the residence of the Project Area and City of Chubbuck; and C. There continues to be a need for the Agency to function in the Project Area and the City of Chubbuck. Section 2. It is hereby found that the Agency does not intend to displace individuals through its development activities, however, should any such displacement happen, a feasible method will be used for the relocation 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. Section 3. It is hereby found and determined that the Plan conforms to general plan for development of the municipality as a whole of the City of Chubbuck, Idaho. Section 4. It is hereby found and determined that the Plan gives due consideration to the provision of adequate and open space, park and recreation areas and facilities that may be desirable for neighborhood improvement and shows consideration for the health, safety and welfare of any children residing in the general vicinity of the Project Area covered by the Plan. Section 5. It is hereby found and determined that the Plan affords maximum opportunity consistent with the sound needs of the City as a whole for the rehabilitation or redevelopment of the Project Area by private enterprise. Section 6. It is hereby found and determined that the Agency does not intend to acquire any open land or any widespread basis, and that the Project Area is planned to be redeveloped in a manner that will benefit the public. The Plan does not indicate that the revenue allocation area and urban renewal area consists of any areas of open land to be acquired by the Agency for residential use development. Section 7. The Plan, a copy of which is attached hereto and marked as Exhibit B and made a part hereby by attachment, be and the same hereby is approved. Ordinance - Page 3 chubbuck080315.pine ridge ord.wpd A'� a.� 21515032 Section 8. Upon the effective date of this Ordinance, the City Clerk is authorized and directed to transmit to the county auditor and tax assessor of Bannock County and to the governing bodies of all taxing districts located withing the Revenue Allocation Area, the City of Chubbuck and to the State Tax Commission a copy of this Ordinance, a copy of the legal description of the boundaries of the Revenue Allocation Area and map or plat indicating the boundaries of the Revenue Allocation Area. Section 9. It is hereby found and determined that the equalized assessed valuation of the Revenue Allocation Area is likely to increase as a result of the initiation and completion of urban renewal projects pursuant to the Plan. Section 10. No direct or collateral action attacking the Plan shall be brought prior to the effective date of this Ordinance or after the elapse of thirty (30) days from and after the effective date of this Ordinance adopting the Plan. Section 11. This Ordinance shall be in full force and effect immediately upon its passage, approval and publication. Section 12. The provisions of this Ordinance are severable and if any provision of this Ordinance or the application of such provision to any person or circumstance is declared invalid for any reason, such declaration shall not affect the validity of remaining portions of this Ordinance. Section 13. All parts of ordinances in conflict herewith are hereby repealed. Section 14. This Ordinance, or a summary thereof in compliance with Section 50-901A, Idaho Code, substantially in the form annexed hereto as Exhibit "A", shall be published once in the official newspaper of the City, and shall take effect immediately upon its passage, approval and publication. PASSED BY THE COUNCIL AND APPROVED BY THE MAYOR OF THE CITY OF CHUBBUCK, IDAHO, this l�� day of October, 2015. R, (�� �'J Ise in 9. Eng an , iAYOR - ATTEST: Richard Morgant5lTY CLERK in21 Ordinance - Page 4 chubbuck080315.pine ridge ord.wpd M I, Rich Morgan, a notary public for the State of Idaho, do certify that on October 26, 2015, I carefully compared the attached copy of City of Chubbuck Ordinance 749 original. The attached is a complete and true copy of the original document. NOTARY PUBLIC -STATE OF IDAHO My Commission Expires: 515/2020 SUMMARY OF ORDINANCE NO. :Z / An ordinance of the City of Chubbuck, a municipal corporation of the state of Idaho, adopting the Pine Ridge Mall Urban Renewal Area Plan; authorizing the city clerk to transmit a copy of this ordinance and other required information to state and county officials and other taxing entities; providing a savings and severability clause; providing a repealer clause; providing for publication of this ordinance by summary; and providing for an effective date. A summary of the principal provisions of the Ordinance are: Section 1. The rehabilitation, conservation and redevelopment of the Project Area pursuant to the Plan is necessary in the interest of the public health, safety and welfare of the residence of the Project Area and City of Chubbuck. Section 2. The Agency does not intend to displace individuals through the Plan. Section 3. The Plan conforms to general plan for development of the municipality as a whole. Section 4. The Plan gives due consideration to the provision of adequate and open space, park and recreation areas. Section 5. The Plan affords maximum opportunity consistent with the sound needs of the City as a whole for the rehabilitation or redevelopment of the Project Area by private enterprise. Section 6. The Revenue Allocation Area does not consist of predominately open land; the Agency does not intend to acquire any open land. Section 7. Approves the Plan, a copy of which is attached to the Ordinance. The Plan contains a revenue allocation area financing provision for the property included within the Plan. The general legal description of the property within the area is the Pine Ridge Mall Subdivision, Pine Ridge Mall First Addition, and Shops at Pine Ridge Subdivision The full legal description is attached to the Ordinance as Exhibit "C". Section 8. Upon the effective date of this Ordinance, the City Clerk is authorized and directed to transmit a copy of the legal description of the boundaries of the Revenue Allocation Area to all affected governing agencies. Section 9. It is hereby found and determined that the equalized assessed valuation of the Revenue Allocation Area is likely to increase as a result of the initiation and completion of urban renewal projects pursuant to the Plan. Section 10. Finds no direct or collateral action attacking the Plan shall be brought within (30) days from and after the effective date of this Ordinance adopting the Plan. Section 11. Finds this Ordinance shall be in full force and effect immediately upon its SUMMARY OF ORDINANCE - Page 1 chubbuck 101615 pine ridge ura ord sum.wpd passage, approval and publication. Section 12. Provides a savings and severability clause. Section 13. Provides a repealer clause. Section 14. Provides for publication of this Ordinance by summary. The full text of this ordinance is available at the City Clerk's Office, Chubbuck City Offices, 5160 Yellowstone, Chubbuck, ID 83202. I have reviewed the foregoing summary and believe it provides a true and correct summary of Ordinance No. % Y % and that the summary provides adequate notice to the public of the contents of this ordinance. DATED this day of GAG' SUMMARY OF ORDINANCE - Page 2 chubbuck 101515 pine ridge ura ord sum.wpd 01111 m EXHIBIT "A" EXHIBIT "B" Chubbuck Development Authority PINE RIDGE MALL Urban Renewal Area and Improvement P M CHUBBUCK OEVELOPMENT AUT[IORITY Urban Renewal Area Improvement Plan ACKNOWLEDGEMENTS Chubbuck City Council Mayor Kevin England Joshua Ellis Ryan Lewis Brent Marshall Kermit Morrison Chubbuck Development Authority Chairman Blake Jones Vice -Chairman Gordon Wilks Kent Kearns Rick Keller Steven Hadley Daniel Heiner Thomas Nield = Urban Renewal Area Improvement Plan I Chubbuck Development Authority Mn Table of Contents i Introduction 3 OmcKOn/unU 3 Purpose ofthe Plan 4 |/. Urban Renewal Area Description and Deteriorated or Deteriorating Conditions Analysis 5 Ui Project Plan 6 Project Description 7 Public Development 7 |V. Economic Feasibility Study 8 V. Conformance with State Law 10 V|. Plan Duration 10 V||. Amendment Procedures 10 VU|. Severability 11 |X. Conclusion 11 Attachment 1: Resolution ofthe City Council Designating the Urban Renewal Area Attachment 2: Revenue Allocation K8op Attachment 3: Revenue Allocation Legal Description Attachment 4: Recommendation ofChubbuchLand Use and Development Commission Attachment 5: Projected construction costs Attachment 6: Current assessed valuation and mil rate and projected ossessedva|uuincnease Attachment 7: Twenty year revenue projection Attachment 8: Twenty year revenue totaxing districts inthe Urban Renewal area Attachment 9: Notice ofPublic Hearing Attachment 10: City Council Ordinance No. Approving the Urban Renewal Plan Urban Renewal Area improvement Plan IChubbuckDevelopment Authority on L INTRODUCTION The Chubbuck DevelopmentkCDA>was created bvthe City ofChubbuckonApril 11, 1992 and was granted authority bvthe City ofChubbuck10undertake urban renewal projects which may befacilitated through the use oftax increment financing. The CDA helps toensure that appropriate development takes place inareas ofgreatest need. Planning is essential toensure that development efforts create both anenvironment ofconvenience and safety for neighborhood residents, and increase opportunities for businesses to succeed. This Urban Renewal Plan, once implemented, will be the vehicle to provide m more conducive atmosphere for business operation in the City, and enhance opportunities for businesses wishing to relocate inChubbuck. The Man identifies projects and describes the process for enhancing this area in the City through efforts of the Chubbuck Development Authority and the City of Chubbuck. Background The ChubbuckOty Council, in their meeting onJune 17, 2015, declared the area known asthe Pine Ridge Mall tobadeteriorated or deteriorating, and recommended that the CDA pursue creating an Urban Renewal Plan and a Revenue Allocation Area for this purpose (Attachment 1). The [hubbuckDevelopment Authority recommended the creation mFanUrban Renewal Area and a Revenue Allocation Area for the deteriorating area located within the Pine Ridge Mall Subdivision legal description for this parcel of property is as follows: Pine Ridge Mall Subdivision Pine Ridge Mall First Addition Shops atPine Ridge Subdivision (Short Plat recently approved) (Map located atAttachment 2;Legal Description located at Attachment 3). Idaho Code defines adeteriorating area where the predominance ofbuildings orimprovements by reason of dilapidation, deterioration, age or obsolescence is conducive to crime and detrimental to public safety, morals and welfare, deterioration of site or other improvements, property that aggravates traffic problems and substantially impairs or arrests the elimination of traffic hazards and the improvement of traffic facilities, property that substantially impairs or arrests the sound growth of a municipality and property that constitutes an economic or social liability and is a menace to the public safety, morals and welfare, necessitates the creation of an improvement plan. This recommendation initiated the creation of the Urban Renewal Plan contained herein. The recommendation of the Chubbuck Development Authority, as outlined, is consistent with the goals of the City and is allowed by the State of Idaho Urban Renewal Law /Chapter2O,Title 50, Idaho Code). Accordingly, this Urban Renewal Plan directs use ofrevenue allocation financing tu accomplish the following: w To facilitate proper growth and development in accordance with sound planning principles and local objectives by encouraging private development that eliminates deterioration and economic disuse of property Urban Renewal Area Improvement Plan IChubbun Development Authority * To eliminate underutilized areas which are causing economic under -development in the designated area and/or substantially impairing the sound growth of Chubbuuk in general * To encourage both private and public development in the Urban Renewal Area in order to diversify and improve the local economy by providing adequate public facilities * To accomplish plan goals in accordance with all appropriate federal, state, and local laws The [hubbmckLand Use and Development Commission, intheir meeting on August 11, 2015 made the following recommendation (Attachment 4): The proposed redevelopment of the Project Area as described in this Plan conforms to the Chubbuck Comprehensive Plan, as amended, and adopted by the City Council. Purpose of the Plan The purpose of this Plan is to create a proactive approach to development/redevelopment projects by the CDA inChubbuckb«focusing efforts infour areas: 1. Leveling or reducing the City's levy rate by increasing the tax base through more aggressive engagement inredeveloping underutilized areas; 2. Partnering with the private sector to enhance development and to attract new or expanded businesses toimprove the Chubbuckeconomy; S. Targeting areas inneed ofsite improvements; 4' Utilizing more effectively the powers granted to the CDA in the pursuit of redevelopment activities. Such powers include: a. Carrying out urban renewal projects; b. Making and executing contracts and other instruments; c. Disseminating slum clearance and urban renewal information; d. Demolition and removal ofbuilding improvements; e. Acquisition ofadeteriorated area ora deteriorating area orportion t Disposition mfany property acquired inthe Urban Renewal Area, including sale, initial leasing or retention by the agency itself, at its fair value for uses in accordance with the Urban Renewal Plan; g. Repairing streets, roads, public utilities, storm sewer facilities, or other facilities; h. installing streets and street improvements, street landscaping, utilities, parks, trails, playgrounds, off-street parking facilities, public facilities, railroad crossings, railroad bridges, railroad underpasses, orother facilities; L Entering buildings or property to make inspections, surveys appraisals, soundings or test borings; j. Acquiring ' bx purchase, lease, option, gift, grant, bequest, devise, eminent domain or otherwise, any real property orpersonal for its administration purposes; k. Holding, improving, renovating, rehabilitating, clearing mpreparing for redevelopment any such property orbuildings; |. Mortgaging, pledging, hypothecating or otherwise encumbering or disposing of any real Urban Renewal Area Improvement Plan |ChubbuckDevelopment Authority m. Insuring or providing for the CDA of any realorpersonal property or operationsofthe municipality, n. Demolishing and removing structures onproperty; o. Investing urban renewal funds; p. Borrowing money and applying for and accepting advances, loans, grants, contributions, and any other form offinancial assistance; q. Creating, modifying and executing plans which may include repair and rehabilitation of buildings and improvements; r. Conducting appraisals, title searches, survey, studies, and other plans and work necessary boprepare for the undertaking ofurban renewal projects; s. Accepting and utilizing grants offunds from the federal governments. Byadopting this Plan, it is the intention of the CDA to facilitate improvements in the designated Urban Renewal Area and enhance the economic viability of the area. III. URBAN RENEWAL AREA DESCRIPTION AND DETERIORATED OR DETERIORATING CONDITIONS ANALYSIS The Urban Renewal Area Boundary and Revenue Allocation Area are identified with concurrent boundaries. The map is located at Attachment 2 and the area is legally described in Attachment 3. State Urban Renewal Law and the Local Economic Development Act identify onumber ofconditions that qualify an area for urban renewal status. The following presents an analysis and reason why the area should beincluded aspart ufonUrban Renewal Area: Idaho Code 50'2002 outlines finding and declaration of necessity which states that areas that impose onerous municipal burdens which decrease the tax base, and reduce tax revenues substantially impairs or arrests the sound growth of municipalities and among other things aggravates traffic problems in an area will qualify to be included in an Urban Renewal Area. Additionally, in Idaho Code 50'2903 any area which is predominately open and which because of obsolete platting, diversity of ownership, deterioration of improvements, or otherwise, results in economic under -development ofthe area qualify for assistance. The properties associated with these areas are in need of improvements to facilitate building and infrastructure enhancements and these needs have contributed to underut/bodon of the site for businesses and industry. This area includes several site issues that impede redevelopment p Under -development of land which has detracted from the economic viability of the area w Deterioration Vfexisting structures * infrastructure limiting development ofthis site � Any combination of the above factors which has reduced the feasibility of full development of this area Without addressing these conditions, the feasibility ofadditional development in this area in the near future would be limited. Additionally, the range of issues and the cods associated with redevelopment contributes to the ongoing underutilization of this area and prompts the additional need toestablish the Urban Renewal Area. Urban Renewal Area Improvement Plan I ChubbuckDevelopment Authority III. PROJECT PLAN The project list outlined in this Plan may be funded (all or in part) by tax increment financing funds, as they become available, as a result of new construction or renovation. It is the intent of the CDA to close this District no later than 2035. A list of the projected construction costs is located at Attachment 5. Elements of the list will be funded on a "reimbursement -as-you-go" for eligible costs. The developer estimates an injection of $64,019,254 for renovation and upgrades in the Pine Ridge Mall Urban Renewal Area. The detailed cost estimates for the project are located at Attachment S. Proiect Description 1. Infrastructure, Access, and Site Work - any necessary and eligible costs related to infrastructure enhancement, construction of facilities, upgrades of utilities, site preparation work, road enhancement, and other associated work to facilitate development; 2. Private Development — property owner/developer agrees to renovate interior and exterior of the mall complex and add exterior landscaping consistent with values and estimates as outlined in Attachment S. a. Typical costs for all improvements on private property shall be borne by the owner or developer indicated as "private development investment," with exception as shown in Table 1, including; L CDA Investment is indicated as: 1. Renovation of parking lot lighting; 2. Parking lot rehab; 3. Demolition of deteriorated theater and diner. Public Development The Chubbuck Development Authority will provide cost reimbursement to the developer for eligible project costs dependent upon the actual tax increment realized on Bannock County's assessed valuation of the project property. The Net Market Value of the City of Chubbuck is $704,628,526. The Urban Renewal Areas may take up to 10% of the total valuation of the City. Ten percent is equal to $70,462,852 maximum. Consistent with the 1999 agreement between the City of Chubbuck and Bannock County a base value for the current urban renewal area is $15,191, 851. The Pine Ridge Mall Urban Renewal base value is $22,515,746. These two combined ($37,707,597) are less than the base 10% value of $70,462,852. = Urban Renewal Area Improvement Plan I Chubbuck Development Authority U IV. ECONOMIC FEASIBILITY STUDY The 2013/2014 tax levies for each of the seven taxing jurisdictions located in the Urban Renewal Area are as follows: Taxing Jurisdictions Tax Levy Levy Subject to TIF Bannock County .004919962 .004919913 City of Chubbuck .009969299 .009969299 School District 25 .004485625 .000000000 Portneuf Free Library .000613554 .000613554 Bannock County Road & Bridge .000458427 .000458427 Bannock County Ambulance .000397195 .000397195 Mosquito Abatement .00005498 .000054958 Total .020899020 .017303816 Attachments 6 provides projections of base -assessed valuations for the proposed Revenue Allocation District for the Urban Renewal Area. An analysis of the tax levy rates applied in outlines the net increase in tax revenue potential from the estimated post construction Attachment 7 provides an analysis of the estimated revenue to the CDA from renovation value within the Revenue Allocation Area. The levy rates are based on the current rate and are applied to the current valuations for property within the Revenue Allocation Area. The Revenue Allocation Tax Value is based upon the current County Assessor's valuation of the property as of October 2014. The net revenue to be collected and distributed to the CDA is calculated by subtracting the standard amount allocated to School District #25 in compliance with State Law. The revenue that could be received by the CDA over the twenty year period is estimated at approximately $8,834,148. This amount will be used to finance public improvement projects within or adjacent to the Urban Renewal Area. V. CONFORMANCE WITH STATE LAW Redevelopment activities for the Urban Renewal Area are governed by two applicable sections of Idaho Code: the Idaho Urban Renewal Law (Chapter20, Title 50, Idaho Code) and the Idaho Local Economic Development Act (Chapter29, Title 50, Idaho Code). The Idaho Legislature passed the Urban Renewal Law in 1965. Under this law, a Mayor and Council can declare areas as deteriorating, and declare that the rehabilitation, conservation, and redevelopment of such areas is in the interest of the public's health, safety, morals or welfare (Idaho Code 50-2008). The Urban Renewal Law also states that an area of a city that "constitutes and economic and social liability imposing onerous municipal burdens which decrease the tax base and reduce tax revenues, substantially impairs or arrests the sound growth of municipalities, retards the provision of housing accommodations, aggravates traffic problems and substantially impairs or arrests the elimination of traffic hazards and the improvement of traffic facilities..." may be designated an Urban Renewal Area. © Urban Renewal Area Improvement Plan I Chubbuck Development Authority The Idaho Legislaturepassed the Local Economic Development Act in 1988. This act states: "An authorized municipality is hereby authorized and empowered to adopt at any time, a revenue allocation financing provision, as described in this chapter, as port of an urban renewal plan ... A revenue allocation financing provision may be adopted either at the time of the original adoption of an urban renewal plan or the creation by ordinance of competitively disadvantaged border community area, orthereafter, asomodification ofanurban renewal plan orthe ordinance creating the competitively disadvantaged border community area" (Idaho Coder 50-2904). In addition to this, Idaho Code 50'2906 states: "The local governing body of an authorized municipality must enact an ordinance in accordance with Chapter S,Title 50, Idaho Code, and Section SO'2DOQ,Idaho Code. Tpmodify anexisting urban renewal plan, toadd orchange arevenue allocation, an authorized municipality must enact an ordinance ... and conduct a public hearing" (Idaho Code 5O -39O6\. This part of the Idaho Code specifically implies that a local municipality must enact an ordinance to authorize redevelopment under the urban renewal agency. The Urban Renewal Plan proposed within this document follows the guidelines prescribed by Idaho Code for the development of Urban Renewal Areas and Revenue Allocations Areas. VL PLAN DURATION This Plan shall be in effect and enforceable for a period of time necessary to refund all qualified and designated improvements and all debt obligations the CDA may incur in connection with such improvements for a period not to exceed twenty years. This term may be amended as allowed by Idaho law. VII. AMENDMENT PROCEDURES This Plan may be amended by the CDA after all notice and public hearing requirements as set forth in Idaho Code have been met, and upon formal approval by the Chubbuck City Council. VIII. SEVERABILITY If any part of the Plan is declared contrary to Idaho Code, and any provision or application of such provision to any person or circumstance is declared invalid for any reason, such declaration shall not affect the validity ofany remaining provisions ofthe Plan. |X CONCLUSION The Urban Renewal Plan is designed to ameliorate deteriorating conditions which are causing economic under -development of the area and substantially impairing the sound and continued growth ofChubbuch. The Plan calls for new public infrastructure, site construction, right-of-way improvements and new building construction. Implementation of the Plan will provide the capacity necessary to foster sound gnnmdh of the municipality, increase the tax base and tax revenues, encourage economic stability of the community, increase job creation, and improve the health, safety, and welfare of the community. The Chubbuck Development Authority recommends that the City approve and cooperate in carrying out the purposes ofthis Plan. Urban Renewal Area Improvement Plan IChubbuckDevelopment Authority CITY OF CHUBDUCK, IDAHO RESOLUTION NO, At .2015 A RESOLUTXO-N OF THE CITY OF CHURBUCK, A MUNICIPA-L CORPORATION OF THE STATE OF EDAHQ,.MAKINO FINDINGS THAT DETEMORAM AND/OR DETEREORATING AREAS EXIST WITHIN THE CITY, DBSCRMG THE BOUNDAMS OF THE DET ERIORATE-D-AMOR DETER103ATING AMS, DECLARING A N`EBD FOR AN UI AN UNDWAL PLAN AND A UVENU ALLOCATION AREA FOR SUCH ARIZA-9, AND DECLAARM AN EFFECTIVE DATE, The Ofty. of 'Chubbu.4 ("City"} is an Idaho amijbipal corporation with the attthotity to doclarq:611,ar aporo'nQf its city limits as a detprimatpd.or d%eflol-tojig &..a ' t v psued to the Idaho. Urban Renewal Law. of 1965 (codified as Chapter 20, Tiflq 50, Idiho Co4o,),! Thb City of on April 11, 1.992, pursuant to Resolution 4-92, created an Utbaff renewal agency purvautto Title 50, Chapter", Idaho Code, which is tho.Ch:uhbu&UihanRenewal Agency CAgenr-y'); We Chubbook City Qouncil, After.reviewirig-a Deterioration Study dated April 24, 2015 of the Pim Ridge Malllip Mormin9d that there are ad.�4doaAl areas ofdateriboteaoftr deteximating.areas wift the City 4nd:such areas should -be so declared.by. the City In order for the Agedr�y to poVve in urbanzenewal plan for such areas; The Ch*,burk 04 Cougqll- dpsirwdie Agency to prepare *Ouch urban renewal plan -to remediate such exisdug deterioration and prevent Mum doteiioratipn, in order to proteot-ft public health, safety, morals and welfare of the residents of the -rnunioipafity. NOW THEREWOU Bff IT RESQLVED BY THE CITY COUNCIL OF THE MY OF CHUBBUCK AS FOLLOWS: Section 1, There -4s an area within the city limits ofthe. City of Chub.budkthat-is deteriorated and/or deterioradngas defined in Idaho Code (9) asherein described without limitation; A. An area IV i#Aich there is a predominance of buildings.or igiprovomenu, whether residential or non residential, which byreason oidllipi4afion Of4ptoriqation,me or obsolescences inadequate provision for vatilatilont. light., ail, sanitation, or open 4pac-e4, and the existence of conditions which endauget fife or propetty by fire or other causes -are detrimental to the public h4Idj,:0af&ty and welfare, B. An area which by the reason of the -presence. of a substantial number of deteriorated or deteriorating structures, predominance Of defed6o or inadequate RBSOLUTION - Page I chubbazk% I Q1 5-nibludda(plae fta mall)mpd street 19Y.OW, faulty lot I&yQ,4t in relation to s-i2p:g4equ cy-j-a:q.ce34bJlftY Or MUM&, unsanitary or unsafe Conditionsi, deterj6ralloi of sits or other impiov.691crift,di-Ver-sity of ownership, defective.or unusual cond-fdont of title and the exjstgnge oft qgdtions which Ojjd4A.ger life jor' cy by fito-*or tither causes POP . results: in e*,ammi.0 vRoordevolo.ppoq bt the area, subgtantidlfy impairs QT aft-08-ts diesou-nd.growth of the City, constitutes aii.eooponiicorsooi*.o.1 liability and is.a menace to the public, heilth, safety; mortals or welfare -in its -present coudition, and state. C. An area i4hi4brreason- of the presence of substaAtiali rof-4 i r. t p b - A 0 Oter 0 god- 0r deterlo.r6tinkliflaeturea, predominance of defective or inadeqpate street layout, f44y lott q . tin kefution. to size adequacy, itcabasibility. ok'aslefulhogs., upsatiRgy of madecondifloos, deterioration of.site- or. other fioTo'Vomin% ' diversity, of Qw-norship, defective or unusual oonoitiomof -fitlmand -Cfie:Wstence of conditions which endanger life or property by.fire,or other muses results in wQnordic uadeiidevelopment of the.area, sUbstaitallyirbipeirs or arrests the sound growth, of th.c. Olty, constitutes: an eqmotolo.- or 900jal liability and: is a ftnacq to tho public, health, safety, morals or-w-effitre ja Its psent-conditio -otate? .. -Tr add: state, The aift df-dototior-allon or. deteribra&g.dondidmij art located Within the-- Ot to be platted Fine FUdge Mall Subdivision Pirie Wdp Mall Virst-Addition Shops at Fine Ridge Subdivision (Shalt Plat.fecently approved) Section 3. It is neoessaq.-for the Agency to -draft an urban -renewed plan or plans in order to rqjnediW -the existing-doten"Oritioin and to prevent ftiture deterioration and -the Agency is hereby-dirgoedJo do so.. Section 4, That the Agency is also. hereby directed to create a mvenue allocation finvoIg provision, as part of1he orbati renewal plan flit the area. Section 5. This resolution shall. be.effeodvevpoii adoption. Posed by the CQuacil and APProved by the Mayor on Am 7� .20.15. ATTEST: R-1ghar4..Morg.An, q.ty Clerk RBSOLUTION - Page 2 chubbdckU6101i.tei'alution(one.ridp rikop).wpd Kevin B, England, t i — �Ml+r � - ,�'? r•^ `. ..,,,, • M y rle��3 r '� .!� L[�11. I li.t' itF�f x , . MA9IBRPLAN OORCEPi FOR: ., ,. a "'•y�: ('y THE PINE RIDGE MALL. �' ,� ,. -x #� '^ '"-3t4 - �:.F�,• �•#! „- 111 =} , LaGaiipttMiamngt4bxA.LL�RiONV { { 1� iRYy L. 1.k A-�' INII� Ol -if utvt ®#uC}sU: ,��i�i rlti�i vwrv�vo mra tC7wi " 1» u1 a 111(91iiT"A . r . , . 'u - SILIO,I „'INUM1cxMLY •4 q u st..,: r 'y(to4if el�t(l� ...•q ' .s.rN�. ipy u :ernn. rllNasMw # iLnas ui w� yNu la� � . � ..,..- ;moi Lmrxanc 'Narxw" .. , � �. � 73 � � ,� �.. � � � � • � � tiutnL � sxra.. �rurcroscros { Yr _ If�Fff # r .�_ y •• +� ♦ ,a. _• •f 'y :F4PoYf f'��IMNKSfNii i g1 4 �.t.� ,' .I S � , • *,. Wl <�I r+�Nu�v6flN,i � '. .Y •♦ ]T.�. �... ��.��+'A" O {�}��`'.j, �f14LLlSiNIWIgyL WIM4YSliYLi i & t yy,,r 5' i lhLLlli1 r^lil „ Si.•in' i5.'= IeiaLn lNW4x,N+w ''M. L LmF.I i ♦' seRxlMt6tpxL ImftfV Mitaci `�,. s .. - ♦l i *.'�i i "' $ 1 ""`-.�ayy,:,.+M �i pnNTl.tYltAYlvs nWt�cr<Nii a ,J,L. ' NK.Y IRIY,IN ffi1LLM01FCT - a - txamic xmru,oxasr tz "r - DVKOVArt . ii � .s+.n L.... aa1.'.�� �� � < .� •Mb � FO vnu� nm�i s � .1.. f •";�;iiii�iiiF � � .��Las nyAii F' r iHill" z L = dl ♦ • �.�•f,`• n �fiMLo �I ' • . wil .srsi� `' G L T TI 1 i � L M. cwt ' N• y P L 1aLVlY/, L I1R=I ltX11 . 014 . , t !{fFw � O +♦. ''' }�l L� �lt L «'� ec�iiF � `•+�ixei «kFiN S 3111f IlIll F!! — k IN V L�p Sl1Y "'`'^ ��,1 l« , Y; RL1 L N�OWM,rsW10gU R1fG upl t �.♦ l 1µ�.y1 !1 :". ' c .8i �� r'fiT 'm7liilii t C „� i rr _jl17 1j'll04117}:'F9';}9 11N ,•.< .:L r - - . � (Illpl#' w w Yh .. - „� k Tqp�' `'. _ •� � � ,'�-44�'Y'�� f i L � ��•.- 5j � { 1 MYLaU1t1R' � .R *{ _. .. ..%- _o � S t. =�t � f�• 1 �. rl�" � , x. W =•R1 L' _ ..MFM,' " ` � - �♦�. [�. '! ' _,. _. 8 111.10 1111, --- _• LM9' x ,* caw..a ,,,,,�,Io PINE RIDGE MALL TRACT REAL PROPERTY IN THE COUNTY OF BANNOCK, STATE OF IDAHO, DESCRIBED AS FOLLOWS: PARCEL 1: LOTS 2 AND 4, BLOCK 1, PINE RIDGE MALL SUBDIVISION, BANNOCK COUNTY, IDAHO, AS THE SAME APPEARS ON THE OFFICIAL PLAT THEREOF, RECORDED NOVEMBER 12, 1980 AS INSTRUMENT NO. 657825. EXCEPTING THEREFROM: ALL THAT PORTION LYING WITHIN YELLOWSTONE HIGHWAY. PARCEL 2: LOT 1, BLOCK 1, PINE RIDGE MALL FIRST ADDITION, BANNOCK COUNTY, IDAHO, AS THE SAME APPEARS ON THE OFFICIAL PLAT THEREOF, RECORDED JUNE 23, 1986 AS INSTRUMENT NO. 774278. EXCEPTING FROM THE ABOVE PARCEL: A PORTION OF LOTS 2 AND 4, BLOCK 1, PINE RIDGE MALL SUBDIVISION AND A PORTION OF LOT 1, BLOCK 1, PINE RIDGE MALL FIRST ADDITION, BANNOCK COUNTY, IDAHO, AS THE SAME APPEARS ON THE OFFICIAL PLAT THEREOF, FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY, DESCRIBED AS FOLLOWS: A PARCEL OF LAND LOCATED IN THE SW 1/4 OF SECTION 10, TOWNSHIP 6 SOUTH, RANGE 34 EAST, BOISE MERIDIAN, BANNOCK COUNTY, IDAHO, MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT THE S 1/16 CORNER ON THE WEST LINE OF SAID SECTION, A FOUND RAILROAD SPIKE (INSTR. #752838); THENCE SOUTH 89'14'42" EAST 1480.08 FEET TO THE SOUTHEAST CORNER OF THE SHOPKO STORE, THE TRUE POINT OF BEGINNING; THENCE NORTH ALONG THE EAST LINE OF THE STORE 261.47 FEET TO THE NORTHEAST CORNER OF THE STORE; THENCE CONTINUING NORTH 147.00 FEET; THENCE WEST 46.15 FEET; THENCE NORTH 99.00 FEET; THENCE WEST 55.00 FEET; THENCE NORTH 392.92 FEET; THENCE WEST 39.19 FEET TO THE POINT OF CURVATURE OF A 325.00 FOOT RADIUS CURVE TO THE LEFT HAVING A CENTRAL ANGLE OF 90000'00" THE RADIUS POINT OF WHICH BEARS SOUTH; THENCE ALONG SAID CURVE 510.51 FEET TO THE POINT OF TANGENCY; THENCE SOUTH 565.39 FEET TO THE POINT OF CURVATURE OF A 20.00 FOOT RADIUS CURVE HAVING A CENTRAL ANGLE 90000,00", THE RADIUS POINT OF WHICH BEARS EAST; THENCE ALONG SAID CURVE 31.42 FEET TO THE POINT OF TANGENCY; THENCE EAST 445.34; THENCE NORTH 10.00 FEET TO THE TRUE POINT OF BEGINNING. 9 50583314.3 PARCEL L m A PARCEL OF LAND LOCATED IN THE SE 1/4 SW 1/4, SECTION 10, TOWNSHIP 6 SOUTH, RANGE 34 EAST, BOISE MERIDIAN, A PORTION OF THE LAND DESCRIBED IN INSTRUMENT NO. 269631 OF THE RECORDS OF BANNOCK COUNTY, IDAHO, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE SOUTH QUARTER CORNER OF SECTION 10, TOWNSHIP 6 SOUTH, RANGE 34 EAST, BOISE MERIDIAN; THENCE SOUTH 89°36'00" WEST, 0.70 FEET; THENCE NORTH 00°5748" WEST, 25.00 FEET TO THE NORTHWEST CORNER OF THE INTERSECTION OF QUINN ROAD AND POLELINE ROAD; THENCE CONTINUING NORTH 0005748" WEST ALONG THE WEST RIGHT OF WAY LINE OF POLELINE ROAD, 261.72 FEET; THENCE SOUTH 89°00'17" WEST, 25.22 FEET TO THE SOUTHEAST CORNER OF THE CONCRETE SIDEWALK IN FRONT OF THE STARLITE CINEMAS, THE POINT OF BEGINNING; THENCE NORTH 00°5943" WEST ALONG THE EAST EDGE OF THE SAID SIDEWALK 158.09 FEET; THENCE SOUTH 89°00'17" WEST ON A LINE 4.00 FEET NORTH OF THE NORTH WALL OF THE EXISTING THEATER BUILDING 146.85 FEET; THENCE SOUTH 00059'43" EAST, 44.00 FEET; THENCE NORTH 89°00'17" EAST, 16.10 FEET; THENCE SOUTH 0005943" EAST ON A LINE 7.00 FEET WEST OF THE WEST WALL OF SAID THEATER BUILDING 114.09 FEET; THENCE NORTH 8900017" EAST ALONG THE SOUTH EDGE OF THE EXISTING CONCRETE SIDEWALK 130.75 FEET TO THE POINT OF BEGINNING. PARCEL 2: COMMENCING AT THE SOUTH QUARTER CORNER OF SECTION 10, TOWNSHIP 6 SOUTH, RANGE 34 EAST, BOISE MERIDIAN; THENCE SOUTH 89°36'00" WEST 0.70 FEET; THENCE NORTH 00°57`48" WEST 25.00 FEET TO THE NORTHWEST CORNER OF THE INTERSECTION OF QUINN ROAD AND POLELINE ROAD, THE POINT OF BEGINNING; THENCE CONTINUING NORTH 0005748" WEST ALONG THE WEST RIGHT OF WAY LINE OF POLELINE ROAD 600.00 FEET; THENCE SOUTH 89036'00" WEST ALONG THE SOUTH BOUNDARY OF LOT 2, BLOCK 1, PINE RIDGE MALL (A SUBDIVISION RECORDED IN BANNOCK COUNTY AS INSTRUMENT NO. 657825) 218.26 FEET TO THE NORTHEAST CORNER OF LOT 1, BLOCK I OF SAID PINE RIDGE MALL; THENCE SOUTH 00059'15" EAST ALONG THE EAST BOUNDARY OF SAID LOT 1 FOR A DISTANCE OF 600.00 FEET TO A POINT IN THE NORTH RIGHT OF WAY LINE OF QUINN ROAD; THENCE NORTH 89°36'00" EAST ALONG THE NORTH RIGHT OF WAY LINE OF QUINN ROAD 218.01 FEET TO THE POINT OF BEGINNING. 10 54583314.3 ME EXCEPTING THEREFROM: A PARCEL OF LAND LOCATED IN THE SE 1/4 SW 1/4, SECTION 10, TOWNSHIP 6 SOUTH, RANGE 34 EAST, BOISE MERIDIAN, A PORTION OF THE LAND DESCRIBED IN INSTRUMENT NO. 269631 OF THE RECORDS OF BANNOCK COUNTY, IDAHO, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE SOUTH QUARTER CORNER OF SECTION 10, TOWNSHIP 6 SOUTH, RANGE 34 EAST, BOISE MERIDIAN; THENCE SOUTH 89°36'00" WEST, 0.70 FEET; THENCE NORTH 00°5748" WEST, 25.00 FEET TO THE NORTHWEST CORNER OF THE INTERSECTION OF QUINN ROAD AND POLELINE ROAD; THENCE CONTINUING NORTH 0005748" WEST ALONG THE WEST RIGHT OF WAY LINE OF POLELINE ROAD, 261.72 FEET; THENCE SOUTH 89°00'17" WEST, 25.22 FEET TO THE SOUTHEAST CORNER OF THE CONCRETE SIDEWALK IN FRONT OF THE STARLITE CINEMAS, THE POINT OF BEGINNING; THENCE NORTH 00°59'43" WEST ALONG THE EAST EDGE OF THE SAID SIDEWALK 158.09 FEET; THENCE SOUTH 89000'17" WEST ON A LINE 4.00 FEET NORTH OF THE NORTH WALL OF THE EXISTING THEATER BUILDING 146.85 FEET; THENCE SOUTH 00059'43" EAST, 44.00 FEET; THENCE NORTH 89°00'17" EAST, 16.10 FEET; THENCE SOUTH 00°59'43" EAST ON A LINE 7.00 FEET WEST OF THE WEST WALL OF SAID THEATER BUILDING 114.09 FEET; THENCE NORTH 89000'17" EAST ALONG THE SOUTH EDGE OF THE EXISTING CONCRETE SIDEWALK 130.75 FEET TO THE POINT OF BEGINNING. SHOPKO TRACT A PORTION OF LOT 2, BLOCK 1 AND LOT 4, BLOCK 1, PINE RIDGE MALL SUBDIVISION AND A PORTION OF LOT 1, BLOCK 1, PINE RIDGE MALL FIRST ADDITION, BANNOCK COUNTY, IDAHO, AS THE SAME APPEARS ON THE OFFICIAL PLAT THEREOF, FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY, DESCRIBED AS FOLLOWS: A PARCEL OF LAND LOCATED IN THE SW1/4 OF SECTION 10, T6S, R34E, BOISE MERIDIAN, BANNOCK COUNTY, IDAHO, MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT THE S 1/16 CORNER ON THE WEST LINE OF SAID SECTION, A FOUND RAILROAD SPIKE (INSTR. #752838); THENCE S 89114'42" EAST 1480.08 FEET TO THE SE CORNER OF THE SHOPKO STORE, THE TRUE POINT OF BEGINNING; THENCE NORTH ALONG THE EAST LINE OF THE STORE 261.47 FEET TO THE NE CORNER OF THE STORE; THENCE CONTINUING NORTH 147.00 FEET; THENCE WEST 46.15 FEET; THENCE NORTH 99.00 FEET; THENCE WEST 55.00 FEET; THENCE NORTH 392.92 FEET; THENCE WEST 39.19 FEET TO THE POINT OF CURVATURE OF A 325.00 FOOT RADIUS CURVE TO THE LEFT HAVING A CENTRAL ANGEL OF 90000'00", THE RADIUS POINT OF WHICH BEARS SOUTH, THENCE ALONG SAID CURVE 510.51 FEET TO THE POINT OF TANGENCY; THENCE SOUTH 565.39 FEET TO THE POINT OF CURVATURE OF A 20.00 FOOT RADIUS CURVE HAVING A CENTRAL ANGLE OF 90000'00", THE RADIUS POINT OF WHICH BEARS 11 50583314.3 EAST; THENCE ALONG SAID CURVE 31.42 FEET TO THE POINT OF TANGENCY; THENCE EAST 445.34 FEET; THENCE NORTH 10.00 FEET TO THE TRUE POINT OF BEGINNING. AUTO W LOT 1, BLOCK 1, PINE RIDGE MALL SUBDIVISION, BANNOCK COUNTY IDAHO, AS THE SAME APPEARS ON THE OFFICIAL PLAT THEREOF, FILED IN THE OFFICE OF THE COUNTY RECORDER OF BANNOCK COUNTY, IDAHO. BRENEMAN LOT 3, BLOCK 1, PINE RIDGE MALL SUBDIVISION, BANNOCK COUNTY IDAHO, AS THE SAME APPEARS ON THE OFFICIAL PLAT THEREOF, FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. 12 50583314.3 E on CHUBBUCK LAND USE AND DEVELOPMENT COMMISSION REVIEW AND FINDING The City of Chubbuck ("City") is an Idaho municipal corporation with the authority to declare all or a portion of its city limits as a deteriorated or deteriorating area pursuant to the Idaho Urban Renewal Law of 1955 (codified as Chapter 20, Title 50, Idaho Code); The City of Chubbuck, on April 11, 1992, pursuant to Resolution 4-92, created an urban renewal agency pursuant to Title 50, Chapter 20, Idaho Code, which is the Chubbuck Urban Renewal Agency ("Agency"); The Chubbuck City Council, after reviewing a Deterioration Study of the Pine Ridge Mall, adopted Resolution 02-2015, which determined that there was an arca of deterioration or deteriorating conditions located within the following described platted or to be platted subdivisions: Pine Ridge Mall Subdivision Pine Ridge Mall First Addition Shops at Pine Ridge Subdivision (Short Plat recently approved) The Chubbuck City Council. directed the Agency to prepare an urban renewal plan to remediate such existing deterioration and prevent future deterioration, in order to protect the public health, safety, morals and welfare of the residents of the municipality. The Agency has prepared and submitted the Pine Ridge Mall Urban Renewal Area and Improvement Plan "Plan" to this Commission for review to determine such Plan is in conformity with the City of Chubbuck's Comprehensive Plan. UPON CONSIDERATION OF SUCH PLAN AND AFTER REVIEW, THE COMMISSION FINDS AS FOLLOWS: The Pine Ridge Mall Urban Renewal Area and Improvement Plan submitted to this Commission by the Chubbuck Development Authority for review is found to be in conformity with the City of Chubbuck's Comprehensive Plan. Approved by the Chubbuck Land Use and Development Commission this /I day of August, 2015. jason Mendcnhal�1,hman REVIEW AND FINDING - Pnge I chubbuck 072815 hide finding on pine ridge uro.wwpd Pine Ridge Mall Infrastructure and Improvements Project Discipline 2015 2016 2017 2018 .1019 2020.2035 Tdai Cat Eligible for Reardur aW Cmlcrltmowdm 250,000 300.ODD S 1,=O,OW S 1.00000 5,215,000 S Parking Lot Renovation 7501000 S 750,000 3W,OW S 300,000 850,000 S Riag Road Ruswtdons S 2SO.000 75,000 S MOOD S Sector Box Ralxedoas Rd Lobster S 300,000 600.000 S MOW I00ADO S S Parking Lot Lighting Ronomdon 160,000 S 400,000 S $ 600.000 S Parking fol Man S 3=,000 S 615,000 S 615,000 S 400,000 S 3.285.000 S Peviog lteservatim S 50,000 S 700100 S Sniping S IS.000 S 4S,ODO S 151000 S 15.000 S 340,000 S Pine Ridge Mall Sits Work A Udlitia Mall Expansion Site Work S 850,000 $ Pad Site 8 Sita Work S 125,000 S Pad Sito I tkilitia S 200100 S Pad Site I Stwmwater S 75,000 S Mall Omlol Building Site work S 900,000 S Shgrs at Pins Ridge Demo. Site Wark & UtiOlia Demodulate ofDaerioratd Thmtar and Dkler S 190,000 S Site lniiesWcterdPazldngRhive Aisle Prep S 600,OW S Site Lighting S 100.000 S Rod Conservation S 160,000 S Roofing Replecsmnd S Main MaR 4ad Mdmenarxe Arm S SOPO S 77,E Mein Mau S 200.00D S 400.0= Cel Reach S 200.000 JCP S 200,0= Herbergers S 215.000 Mall Renovation Pylon sign S 100,000 S 160,000 $ Extsdor Moll signs S 40.000 S 80.000 S Common Ara HVAC Unhs $ RTU 1 &2 S 60,000 M7.8.9, 10 S 67,500 RTU3&4 S 60,000 RTU 5 & 6 S 60.000 Upgrade common area oeHing and Plghting S S113.5W S WOW S Skylights S 200,000 S 250,000 S Replay comnwn arm ill. floor S 605,000 S 942,570 S Ropinm wotorprooing exterior construction joints S 17,500 S 47,994 S MaR Earaaecs S 40%OW S SOW S taterlor Neff Common arm paining S 100,000 S 2M.000 S RmonleRatmonss S 200,000 S WGODD S Interior landscaping S 50100 S 115,000 $ Galeria Avnitum Setting arms S 7S.000 S 255,000 S Conunm Arm MaM S 20,000 S 40ADD S Replacaatent RMNs S 225.000 S 300,0= S Food Court Furniture S 40,000 S 60,000 S Common At. Trash S 6,00 S 18,000 $ Play Arca S 200= S 250100 $ Exterioriaodsmping S MOOD S 40,000 S Paint Exterior Mall S 75,000 S 170ADD $ S"oeHall Dmra S 2S,ODO S 40,000 $ Potential Demdidon S 3100.000 S Canimgmy S 101,250 S 141,725 S 123,375 S 244,875 S 35,2X1 S 5361373.(0 S Total s zimas0 S 2.997.225 S 2,590,875 S 5,142,315 S 740,250 S 14268.035 $ Tenn Connection Shops at Pine Ridge S Pad Site lnMstnoeturdFuldng/Drive Aisle S 500.000 Pd site 4 TA S 225.000 $ Pad She fa0aeevaureutrbogA7rmA5ste S SOADD S Pad Sito6 inlrosWenudi'arWnglDriveAisla S MOOD S Ped Site 6 Tmnnt Bdlduut S 290.000 $ Pedsh.fi Ternnt TA $ 115.000 $ Pian Rldgo Moi! $ Man Enpansim Buiklag S 2.706,000 S Ped Sha 7 Shell S 750,000 S Pad Site 7 TA S 300,000 $ Pad Sift 2l mArucmraTarldeVTOriva Able S 50.000 S F.dSiloOBtsfiffing S IMOOD S Ped Site 8 T S MOOD S Pad Site i lnlmstmctumlPaddowDrive Aisle S 400.000 S Mall Outlet Building S 3,00.000 S hdhoMaRS'kopSp-TA S 3007%1 S 3%,000 S 312120 S 318ja S 6.052.729 S fail. Mall Shop Speed LLWark $ 4AOW S 4S9.ODD S 461.180 S 477,544 S 9,079,093 S Cmtinge ey $ 1151= S MUM S 58,250 S 39,015 S 39,795.30 S 756,591 S Total S 2415.00D S 8.085100 S 1,2+9,250 S $19315 S 8SS,701 S 15,888.412 S Sort Cats Sita lVarl•Fagineering S 158,944 5 199,480 S 61,654 S 107,310 S 28,367 S 488,616 $ Arddiesure S 188,398 S 64,840 S 101,349 S 26,791 S 461.660 S Brokerages S $ S S . S S - S Legal S 250,OW $ 25.000 S 25AW S nOOD S 25,000 S 25.0= S Accounting $ 35,000 S 15.000 S 15,0W S 15,000 S IS,000 S 15.000 S Davalupeh Fm S 227AM S 554,111 S 190,706 S 208,015 S 78.798 S 1.357,122 S Flaming Cost S 118.525 S 629339 S k3&758 S 318,011 S 65,362 S 1,325.412 S Hnoncing Cat(Infirsecnrce) S M350 S 35,595 S 90,090 S 3%01) $ 29, 5 S 303.47S S Adinhasuativd0verhad S 90.825 S 211,645 S 76,283 S 119,234 S 31,519 S 543,129 S Contingency S 51,715.31 S 93.428 S 33,467 $ 51,184 S IS,CO1 S 216.041 $ Total S 1,0.012 S 21961,995 S 702,797 S 1.074,863 S 3154 S 4,746,855 S Grand Told S 5,627,272 S 13,044.220 S 4,516,92.° S 7,036,553 S 1,890,985 S 31,903,302 S ' AB ro5013std aGosx aro aiilmia mad wilt d m6jeet to tsv5sims iz� m 11w testi ads incurzal 4af91a59.1 MU2153 250,000 S 250,000 300.ODD S 1,=O,OW S 1.00000 5,215,000 S 5,215,000 7501000 S 750,000 3W,OW S 300,000 850,000 S 125,000 $ 00OA00 S 75,000 S MOOD 9W,OOD S 190,OW S 190100 600.000 S MOW I00ADO S 1001000 160,000 $ 160,000 1,34$898 S - S 90,000.00 S • 8 - S s . 260,000 S 130,000 S 207,500 S S - S - S - S 1,143,500 $ 450,000 S 1,547,570 S 65,494 S 1,000,0= S 375,000 S 450100 S 165,000 S 330.000 S 60,000 S S15ADD S 100,000 S 24AGO S 4SO1W S 700.000 S 244,=0 S 65,000 S 3.00,088 S - 1,184,048 $ 426.250.00 24,865,010 S 8.993,350 500,000 S 500,000 225,0= S SDA00 S 50.000 SO0.000 S 800.000 MOOD S IIS,0W S 2700.000 S 7SO,O00 S 300,0= S 50,000 S MOOD 180,000 S 90,OW S 400,000 S 400,000 3,200,000 S 7,89,311 S 00.933,816 S - 1.393,651 S 90,000.00 29.266,679 S 1,890.000 974,370 S 195.898.S0 920.239 S S 37S.OW S 110,000 S 2,706.584 S 2594,906 S 65-.945 S 651995.00 1.052,634 S - 470,836 S 9.887.565 S 848.894 64,019,254 S 11,732144 Parcel Number RCPRM000206 (Herberger';) Base $ Value 2,254,774 RCPRM000207 (Mall) Faxing Jurisdiction Bannock County LeN N, LevY 0.004919962 not Subject to Levi, TIF 0.0000000492 Subject to TiF 0.004919913 City of Chubbuck 0.009969299 0 0.009969299 School District 25 0.004485625 0.0044856250 0 Portneuf Free Library 0.000613554 0 0.000613554 Bannock County Road & Bridge 0.000458427 0 0.000458427 Bannock County Ambulance 0.000397195 0 0.000397195 Abatement 0.000054958 0 0.000054958 Total 0.020899020 0.004485674 0.016413346 Parcel Number RCPRM000206 (Herberger';) Base $ Value 2,254,774 RCPRM000207 (Mall) $ 9,271,703 RCPR1000102 (Shopko) $ 4,555,348 RCPRM000202 (Sho ko) $ 649,220 RCPRM000301(Panda Express) $ 1,244,016 RCPRM000100 (Clinic & Vacant) $ 2,494,905 RCCRM000100/3 (Theater) $ 853,800 New parcel for theater. Land value only. PC002046600 (Theater) $ - New PP parcel for theater building. RCCPCO28801(Old Carmike) $ 885,852 RCCPCO28802 (Old Carmike) $ 306,128 Total $ 22,515,746 54184215.4 User Square Fee ikssessed Value Per Sil Total Assessed Value Mall Expansion 55000 $ 60 $ 3,300,000 Theater/Theater Expansion 42300 $ 85 $ 3,595,500 Pad Site 1 6000 $ 350 $ 2,100,000 Pad Site 2 3000 $ 450 $ 1,350,000 Pad Site 3 4500 $ 350 $ 1,575,000 Pad Site 4 5100 $ 350 $ 1,785,000 Pad Site 5 4900 $ 350 $ 1,715,000 Pad Site 6 5800 $ 350 $ 2,030,000 Pad Site 7 7500 $ 250 $ 1,875,000 Pad Site 8 1800 $ 450 $ 810,000 Mall Outlot Building 40620 $ 60 $ 2,437,200 Total New $ 22,572,700 54184215.4 Annual Increase in Assessed Value: 1% 501 84215.4 Ca 1. 1 Base $ Assessed Value 22,515,746 Total $ Assessed Value 22,515,746 Increment $ A)ailable - 2 $ 22,515,746 $ 45,088,446 $ 370,494 3 $ 22,515,746 $ 45,539,330 $ 377,894 4 $ 22,515,746 $ 45,994,724 $ 385,369 5 $ 22,515,746 $ 46,454,671 $ 392,918 6 $ 22,515,746 $ 46,919,218 $ 400,543 7 $ 22,515,746 $ 47,388,410 $ 408,244 8 $ 22,515,746 $ 47,862,294 $ 416,022 9 $ 22,515,746 $ 48,340,917 $ 423,877 10 $ 22,515,746 $ 48,824,326 $ 431,812 11 $ 22,515,746 $ 49,312,569 $ 439,826 12 $ 22,515,746 $ 49,805,695 $ 447,919 13 $ 22,515,746 $ 50,303,752 $ 456,094 14 $ 22,515,746 $ 50,806,790 $ 464,351 15 $ 22,515,746 $ 51,314,857 $ 472,690 16 $ 22,515,746 $ 51,828,006 $ 481,112 17 $ 22,515,746 $ 52,346,286 $ 489,619 18 $ 22,515,746 $ 52,869,749 $ 498,211 19 $ 22,515,746 $ 53,398,446 $ 506,888 20 $ 22,515,746 $ 53,932,431 $ 515,653 Total: $ 8,379,534 NPV: 5.50%1 $ 4,712,809 Annual Increase in Assessed Value: 1% 501 84215.4 Year Base Assessed V a I u e NeNN Assessed Value Bannock CouIItN ('Iiul)i)ljck CitN of, School District 2 Portnelit, IJhrarN Free CountN Bannock Road Baonock CountN Ab 7 & Bridt_,e Ambulance at I MI -it 1 $ 22,515,746 $ 22,515,746 $ 110,777 $ 224,466 $ 100,997 $ 13,815 $ 10,322 $ 8,943 $ 1,237 2 $ 22,515,746 $ 45,088,446 $ 110,778$ 224,466 $ 202,250 $ 13,815 $ 10,322 $ 8,943 $ 1,237 3 $ 22,515,746 $ 45,539,330 $ 110,778 $ 224,466 $ 204,272 $ 13,815 $ 10,322 $ 8,943 $ 1,237 4 $ 22,515,746 $ 45,994,724 $ 110,778$ 224,466 $ 206,315 $ 13,815 $ 10,322 $ 8,943 $ 1,237 5 $ 22,515,746 $ 46,454,671 $ 110,778 $ 224,466 $ 208,378 $ 13,815 $ 10,322 $ 8,943 $ 1,237 6 $ 22,515,746 $ 46,919,218 $ 110,778 $ 224,466 $ 210,462 $ 13,815 $ 10,322 $ 8,943 $ 1,237 7 $ 22,515,746 $ 47,388,410 $ 110,778 $ 224,466 $ 212,567 $ 13,815 $ 10,322 $ 8,943 $ 1,237 8 $ 22,515,746 $ 47,862,294 $ 110,778 $ 224,466 $ 214,692 $ 13,815 $ 10,322 $ 8,943 $ 1,237 9 $ 22,515,746 $ 48,340,917 $ 110,778 $ 224,466 $ 216,839 $ 13,815 $ 10,322 $ 8,943 $ 1,237 10 $ 22,515,746 $ 48,824,326 $ 110,778 $ 224,466 $ 219,008 $ 13,815 $ 10,322 $ 8,943 $ 1,237 11 $ 22,515,746 $ 49,312,569 $ 110,778 $ 224,466 $ 221,198 $ 13,815 $ 10,322 $ 8,943 $ 1,237 12 $ 22,515,746 $ 49,805,695 $ 110,778 $ 224,466 $ 223,410 $ 13,815 $ 10,322 $ 8,943 $ 1,237 13 $ 22,515,746 $ 50,303,752 $ 110,778 $ 224,466 $ 225,644 $ 13,815 $ 10,322 $ 8,943 $ 1,237 14 $ 22,515,746 $ 50,806,790 $ 110,778 $ 224,466 $ 227,900 $ 13,815 $ 10,322 $ 8,943 $ 1,237 15 $ 22,515,746 $ 51,314,857 $ 110,778 $ 224,466 $ 230,179 $ 13,815 $ 10,322 $ 8,943 $ 1,237 16 $ 22,515,746 $ 51,828,006 $ 110,778 $ 224,466 $ 232,481 $ 13,815 $ 10,322 $ 8,943 $ 1,237 17 $ 22,515,746 $ 52,346,286 $ 110,778 $ 224,466 $ 234,806 $ 13,815 $ 10,322 $ 8,943 $ 1,237 18 $ 22,515,746 $ 52,869,749 $ 110,778 $ 224,466 $ 237,154 $ 13,815 $ 10,322 $ 8,943 $ 1,237 19 $ 22,515,746 $ 53,398,446 $ 110,778 $ 224,466 $ 239,525 $ 13,815 $ 10,322 $ 8,943 $ 1,237 20 $ 22,515,746 $ 53,932,431 $ 110,778 $ 224,466 $ 241,921 $ 13,815 $ 10,322 $ 8,943 $ 1,237 Total: $ 2,215,557 $ 4,489,324 $ 4,309,998 $ 276,293 $ 206,437 $ 178,863 $ 24,748 50184215.4 C 3 ,N. '1� N./ NOTICE OF PUBLIC HEARING ON A URBAN RENEWAL PLAN FOR THE CHUBBUCK DEVELOPMENT AUTHORITY Pursuant to Idaho Code §50-2008 (c), the City of Chubbuck does hereby give notice that a public hearing will be held before the Chubbuck City Council on Wednesday, October 21, 2015 at 6:00 o'clock p.m. at the Chubbuck City Hall, 5160 Yellowstone Avenue, Chubbuck, Idaho. The purpose of the hearing will be to consider an urban renewal plan ("Plan"), known as the Pine Ridge Mall Urban Renewal Plan, for the Chubbuck Development Authority ("CDA") which consists of constructing infrastructure improvements to allow for economic development which will be funded through tax increment funds. The proposed improvements include renovations to the Pine Ridge Mall ring road, parking lot lighting renovation and rehabilitation, paving preservation and striping, demolition of deteriorated buildings, site infrastructure improvement, parking and drive isle preparation, site lighting, contingency and the costs of financing. The property is generally known as the Pine Ridge Mall Subdivision, Pine Ridge Mall First Addition and the Shops at Pine Ridge Mall Subdivision. The detailed legal description for the property is available from the Chubbuck City Clerk upon request. The Plan contains a revenue allocation financing provision that will cause property taxes resulting from any increases in equalized assessed valuation in excess of the equalized assessed valuation as shown in the base assessment roll to be allocated to the CDA for urban renewal area purposes. All persons are invited to give comment regarding this public hearing in person or you may submit written comment to the City of Chubbuck, 5160 Yellowstone Avenue, P 0 Box 5604, Chubbuck, Idaho 83202. Written comments must be received no later than October 14, 2015. Chubbuck City Hall and Council Chambers are accessible for persons with disabilities. Any persons needing- special accommodations to participate in the meeting should contact City Clerk Richard Morgan at (208) 237-2400 at least 24 hours prior to the meeting. NOTICE OF PUBLIC HEARING chubbuck0803I5.notice public hearing.wpd EXHIBIT "C" PM, E RIII.GGE.MALL TRACT REAL PROPERTY IN THE COUNTY OF BANNOCK, STATE OF IDAHO, DESCRIBED AS FOLLOWS: PARCEL 1: LOTS 2 AND 4, BLOCK 1, PINE RIDGE MALL SUBDIVISION, BANNOCK COUNTY, IDAHO, AS THE SAME APPEARS ON THE OFFICIAL PLAT THEREOF, RECORDED NOVEMBER 12,1980 AS INSTRUMENT NO. 6,57925, EXCEPTING THEREFROM: ALL THAT PORTION LYING WITHIN YELLOWSTONE HIGHWAY. PARCEL 2: LOT 1, BLOCK 1, PINE RIDGE MALL FIRST ADDITION, BANNOCK COUNTY, IDAHO, AS THE SAME APPEARS ON THE OFFICIAL PLAT THEREOF, RECORDED JUNE 23, 1986 AS INSTRUMENT NO. 774278. EXCEPTING FROM THE ABOVE PARCEL: A PORTION OF LOTS 2 AND 4, BLOCK 1, PINE RIDGE MALL SUBDIVISION AND A PORTION OF LOT 1, BLOCK 1, PINE RIDGE MALL FIRST ADDITION, BANNOCK COUNTY, IDAHO, AS THE SAME APPEARS ON THE OFFICIAL PLAT THEREOF, FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY, DESCRIBED AS FOLLOWS: A PARCEL OF LAND LOCATED IN THE SW 1I4 OF SECTION 10, TOWNSHIP 6 SOUTH, RANGE 34 EAST, BOISE MERIDIAN, BANNOCK COUNTY, IDAHO, MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT THE S 1116 CORNER ON THE WEST LINE OF SAID SECTION, A FOUND RAILROAD SPIKE (INSTR. #752838); THENCE SOUTH 89014142" EAST 1480.08 FEET TO THE SOUTHEAST CORNER OF THE SHOPKO STORE, THE TRUE POINT OF BEGINNING; THENCE NORTH ALONG THE EAST LINE OF THE STORE 261.47 FEET TO THE NORTHEAST CORNER OF THE STORE; THENCE CONTINUING NORTH 147.00 FEET, THENCE WEST 46.15 FEET; THENCE NORTH 99.00 FEET, THENCE WEST 55.00 FEET, THENCE NORTH 392.92 FEET; THENCE WEST 39.19 FEET TO THE POINT OF CURVATURE OF A 325.00 FOOT RADIUS CURVE TO THE LEFT HAVING A CENTRAL ANGLE OF 90000'00" THE RADIUS POINT OF WHICH BEARS SOUTH; THENCE ALONG SAID CURVE 510.51 FEET TO THE POINT OF TANGENCY; THENCE SOUTH 565.39 FEET TO THE POINT OF CURVATURE OF A 20.00 FOOT RADIUS CURVE HAVING A CENTRAL ANGLE 90000'0011, THE RADIUS POINT OF WHICH BEARS EAST; THENCE ALONG SAID 9 505833t4.3 CURVE 31.42 FEET TO THE POINT OF TANGENCY; THENCE EAST 445.34; THENCE NORTH 10.00 FEET TO THE TRUE POINT OF BEGINNING. PARCEL 1; A PARCEL OF LAND LOCATED IN THE SE 1/4 SW 1/4, SECTION 10, TOWNSHIP 6 SOUTH, RANGE 34 EAST, BOISE MERIDIAN, A PORTION OF THE LAND DESCRIBED IN INSTRUMENT NO, 269631 OF THE RECORDS OF BANNOCK COUNTY, IDAHO, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE SOUTH, QUARTER CORNER OF SECTION 10, TOWNSHIP 6 SOUTH, RANGE 34 EAST, BOISE MERIDIAN; THENCE SOUTH 89036'00" WEST, 0.70 FEET; THENCE NORTH 00°5748" WEST, 25.00 FEET TO THE NORTHWEST CORNER OF THE INTERSECTION OF QUINN ROAD AND POLELINE ROAD; THENCE CONTINUING NORTH 00°57'48" WEST ALONG THE WEST RIGHT OF WAY LINE OF POLELINE ROAD, 261.72 FEET; THENCE SOUTH 89°00'17" WEST, 25.22 FEET TO THE SOUTHEAST CORNER OF THE CONCRETE SIDEWALK IN FRONT OF THE STARLITE CINEMAS, THE POINT OF BEGINNING; THENCE NORTH 00°59'43" WEST ALONG THE EAST EDGE OF THE SAID SIDEWALK 159.09 FEET; THENCE SOUTH 89000'17' WEST ON A LINE 4.00 FEET NORTH OF THE NORTH WALL OF THE EXISTING THEATER BUILDING 146.85 FEET, THENCE SOUTH 00059'43" EAST, 44.00 FEET; THENCE NORTH 89°00'17" EAST, 16.10 FEET; THENCE SOUTH 0.0°59'43" EAST ON A LINE 7.00 FEET WEST OF THE WEST WALL OF SAID THEATER BUILDING 11.4.09 FEET; THENCE NORTH 89-00-17" EAST ALONG THE SOUTH EDGE OF THE EXISTING CONCRETE SIDEWALK 130.75 FEET TO THE POINT OF BEGINNING. PARCEL 2: COMMENCING AT THE SOUTH QUARTER CORNER OF SECTION 10, TOWNSHIP 6 SOUTH, RANGE 34 EAST, BOISE MERIDIAN; THENCE SOUTH 89°36100" WEST 0.70 FEET; THENCE NORTH 00°5748" WEST 25,00 FEET TO THE NORTHWEST CORNER OF THE INTERSECTION OF QUINN ROAD AND POLELINE ROAD, THE POINT OF BEGINNING; THENCE CONTINUING NORTH 0005748" WEST ALONG THE WEST RIGHT OF WAY LINE OF POLELINE ROAD 600.00 FEET; THENCE SOUTH 89036'00" WEST ALONG THE SOUTH BOUNDARY OF LOT 2, BLOCK 1, PINE RIDGE MALL (A SUBDIVISION RECORDED IN BANNOCK COUNTY AS INSTRUMENT NO. 657825) 218.26 FEET TO THE NORTHEAST CORNER OF LOT 1, BLOCK I OF SAID PINE RIDGE MALL; THENCE SOUTH 00059'15" EAST ALONG THE EAST BOUNDARY OF SAID LOT 1 FOR A DISTANCE OF 600.00 FEET TO A POINT IN THE NORTH RIGHT OF WAY LINE OF Kc, 5OS83314,3 QUINN ROAD; THENCE NORTH 89036'00" EAST ALONG THE NORTH RIGHT OF WAY LINE OF QUINN ROAD 218.01 FEET TO THE POINT OF BEGINNING. EXCEPTING THEREFROM: A PARCEL OF LAND LOCATED IN THE SE 1/4 SW 1/4, SECTION 10, TOWNSHIP 6 SOUTH, RANGE 34 EAST, BOISE MERIDIAN, A PORTION OF THE LAND DESCRIBED IN INSTRUMENT NO. 269631 OF THE RECORDS OF BANNOCK COUNTY, IDAHO, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE SOUTH QUARTER CORNER OF SECTION 10, TOWNSHIP 6 SOUTH, RANGE 34 EAST, BOISE MERIDIAN; THENCE SOUTH 89°36'00" WEST, 0.70 FEET; THENCE NORTH 00°5748" WEST, 25.00 FEET TO THE NORTHWEST CORNER OF THE INTERSECTION OF QUINN ROAD AND POLELINE ROAD; THENCE CONTINUING NORTH 00°57'48" WEST ALONG THE WEST RIGHT OF WAY LINE OF POLELINE ROAD., 261;72 FEET; THENCE SOUTH 89°00'17" WEST, 25.22 FEET TO THE SOUTHEAST CORNER OF THE CONCRETE SIDEWALK IN FRONT OF THE STARLITE CINEMAS, THE. POINT OF BEGINNING; THENCE NORTH 00059'43" WEST ALONG THE EAST EDGE OF THE SAID SIDEWALK 158.09 FEET; THENCE SOUTH 89°00117" WEST ON A LINE 4.00 FEET NORTH OF THE NORTH WALL OF THE EXISTING THEATER BUILDING 146.85 FEET, THENCE SOUTH 00°59'43" EAST, 44.00 FEET; THENCE NORTH 89000'17" EAST, 16.10 FEET; THENCE SOUTH 0005943" EAST ON A LINE 7.00 FEET WEST OF THE WEST WALL OF SAID THEATER BUILDING 11.4.09 FEET; THENCE NORTH 89°00'17" EAST ALONG THE SOUTH EDGE OF THE EXISTING CONCRETE SIDEWALK 130.75 FEET TO THE POINT OF BEGINNING. :SIiOPK+U�RACT A PORTION OF LOT 2, BLOCK 1 AND LOT 4, BLOCK 1, PINE RIDGE MALL SUBDIVISION AND A PORTION OF LOT 1, BLOCK 1, PINE RIDGE MALL FIRST ADDITION, BANNOCK COUNTY, IDAHO,. AS THE SAME APPEARS QST THE. OFFICIAL PLAT THEREOF, FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY, DESCRIBED AS FOLLOWS: A PARCEL OF LAND LOCATED IN THE SWI/4 OF SECTION 10, T6S, R34E, BOISE MERIDIAN, BANNOCK COUNTY, IDAHO, MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT THE S 1/16 CORNER ON THE WEST LINE OF SAID SECTION, A FOUND RAILROAD SPIKE (INSTIL #752838); THENCE S 89°14'42" EAST 1480.08 FEET TO THE SE CORNER OF THE SHOPKO STORE, THE TRUE POINT OF BEGINNING; THENCE NORTH ALONG THE EAST LINE OF THE STORE 261.47 FEET TO THE NE CORNER OF THE STORE; THENCE CONTINUING NORTH 147.00 FEET; THENCE WEST 46.15 FEET; THENCE NORTH 99.00 FEET; THENCE WEST 55.00 FEET; THENCE NORTH 392.92 FEET; THENCE WEST 39.19 FEET TO THE POINT OF CURVATURE OF A 325.00 FOOT RADIUS CURVE TO THE LEFT HAVING A CENTRAL ANGEL OF 90000'00", THE RADIUS POINT OF WHICH BEARS SOUTH, THENCE 11 50583314,3 ALONG SAID CURVE 510.51 FEET TO THE POINT OF TANGENCY; THENCE SOUTH 565.39 FEET TO THE POINT OF CURVATURE OF A 20.00 FOOT RADIUS CURVE HAVING A CENTRAL ANGLE OF 90000'00", THE RADIUS POINT OF WHICH BEARS EAST; THENCE ALONG SAID CURVE 31.42 FEET TO THE POINT OF TANGENCY; THENCE EAST 445.34 FEET; THENCE NORTH 10.00 FEET TO THE TRUE POINT OF BEGINNING. ,AUTU_VU LOT 1, BLOCK 1, PINE RIDGE MALL SUBDIVISION, BANNOCK COUNTY IDAHO, AS THE SAME APPEARS ON THE OFFICIAL PLAT THEREOF, FILED IN THE OFFICE OF THE COUNTY RECORDER OF BANNOCK COUNTY, IDAHO. SRENAMAN. LOT 3, BLOCK 1, PINE RIDGE MALL SUBDIVISION, BANNOCK COUNTY IDAHO, AS THE SAME APPEARS ON THE OFFICIAL PLAT THEREOF, FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. 12 50583314.3