HomeMy WebLinkAboutURA RES 2022-55RESOLUTION NO. 2022 - 55
A RESOLUTION OF THE CALDWELL URBAN RENEWAL AGENCY, CITY OF
CALDWELL, CANYON COUNTY, IDAHO, ACKNOWLEDGING AND DETERMINING
THAT INCREMENT REVENUE WILL BE RECEIVED IN 2023 FOR THE 2022
ASSESSMENT YEAR BASED UPON THE 2022-2023 BUDGET OF THE URBAN RENEWAL
AGENCY; DETERMINING THAT THE REVENUE FOR THE 2022 ASSESSMENT YEAR
WILL BE SUFFICIENT TO COVER ALL ESTIMATED EXPENSES FOR THE CURRENT
YEAR AND ALL FUTURE YEARS; RECOMMENDING THAT THE CALDWELL EAST
URBAN RENEWAL PLAN TERMINATE UPON ITS NATURAL TERMINATION DATE;
RECOMMENDING THAT THE CITY COUNCIL ADOPT AN ORDINANCE, AS
DESCRIBED IN IDAHO CODE § 50-2903, ALLOWING FOR THE TERMINATION OF THE
CALDWELL EAST URBAN RENEWAL PLAN AND ASSOCIATED INCREMENT
FINANCING PROVISION.
WHEREAS, the Caldwell Urban Renewal Agency (the "CURA") is a duly constituted urban
renewal agency operating under the laws of the State of Idaho; and,
WHEREAS, the CURA adopted an urban renewal plan in 1998 called the Urban Renewal
Plan Caldwell East Urban Renewal Project (the "Plan"); and,
WHEREAS, said plan was amended in 2014 by that certain "2014 Amendment to the Urban
Renewal Plan for the Caldwell East Urban Renewal Project Including Workable
Program/Implementation Plan"; and,
WHEREAS, said amendment provided that the duration of the plan would be as follows:
Except for the nondiscrimination and non-segregation 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-four
(24) years from the original date of adoption of this Plan by the City of Caldwell
through December 21, 2022 provided, however, that the revenue from property
taxes shall be restricted to collection of taxes assessed for the twenty-three (23)
year period commencing with the 1999 assessment through the 2022 assessment.
;and,
WHEREAS, the agency has adopted a budget for the fiscal year 2022-2023 pursuant to Idaho
Code Title 50, §§ 50-2001 et seq., and 50-2901 et seq.; and,
WHEREAS, the agency has determined in said budget that revenue from the 2022 assessment
year, which shall be received in 2023, is necessary to complete all of the projects in the Plan; and,
WHEREAS, the agency has determined in said budget that, with the foregoing revenue, the
agency will have sufficient monies to cover all estimated expenses for the current year and all future
years; and,
Resolution No. 2022-55 - Page 1 of 2