HomeMy WebLinkAboutURA RES 2024-05The ann ual re port pro vi des an op port uni ty for the Age ncy to U pda te the City
C ouncil, the pub li c a nd it s c onsti tue ncies on ac ti vi t ie s t aken b y the A gen cy dur ing
the respe ctive ca le nda r ye ar. The ag enc y h ol ds a p ubl ic me eti ng to all ow fo r
co mment b y t he pub li c o n t he con ten ts of the A nnu al rep ort.
CALDWELL URBAN RENEWAL AGENCY
The C ald we ll U r ban R ene wa l Ag enc y was a ppro ved by C it y Cou ncil on De cem ber
21, 19 98 and is go ve r ned by seve n c omm is si oner s t hat ov ers ee a nd coordi nat e
red eve lop men t e ffo r ts in C ald we ll , I daho . Th ey have eng aged i n s trat egic pla nning
and ha ve im ple men ted urb an r enewal p r oje ct s a s t hey s aw th e ne ed. At t he ti m e o f
this repo rt, the C ommissio n m emb ers are Ji m Por ter (Ch airm an), Juli e Wa r wick
(Vice Chair), Brad D oty, Ch r is Allgoo d, Da vi d M oore , Ada m G arc ia and Zach
B rooks.
C ity s taff who as si st the agenc y a r e Deb bi e G eye r (Secret ary), Ma r k Hi lt y (L ega l
C ounsel ) an d Rae ly nn No r th (Trea sure r).
PURPOSE AND GOAL
The pur pos e a nd goals of the U r ban R ene wa l e ffo r t h ave incl ude d:
1. E co nomic De velop men t Act iv it ies
2. Rehab il it ati on and ex pan si on o f stre ets an d pr ovidi ng ade qua t e a cc es s
3. The furt her devel opm ent of pub li c u ti li tie s t o inc r ease t he vi abi li ty and
rea din ess o f fu ture de ve lop men t op port uniti es
CALDWELL URBANCALDWELL URBAN
RENEWAL AGENCYRENEWAL AGENCY
2023 ANNUAL UPDATE2023 ANNUAL UPDATE
2023 AGENCY HIGHLIGHTS
• 213 S Ki mba ll Redevel opm ent : To e li min ate slum and bl ig ht in downtown
C ald we ll , t he UR A pu r ch ase d t he f orme r N orma n's Je we lers b uildi ng at 213 S
K imbal l. T he prop erty, al ong with 21 5 an d 2 17 S K imb al l Ave, is s et f or
red eve lop men t b y RR C Co ns truc tio n via an R F P pro cess. The two-s tory, 10,000 SF
build in g i s sch edu le d to c omme nce i n the spri ng of 202 4
• 510 Arth ur St r eet P r ope rty Acq uisit ion: Th e Ag enc y acq uir ed a ppro xi mat ely
0.4 1 a cre s o f u nde r uti li ze d pr oper ty on Ar thur S tree t i n 2 022 . Fo ll ow ing th e
dem ol ition of exist in g s tructur es, an R F P wa s pub lishe d a nd T S De ve lop men t was
award ed t he projec t t o c onstruct a th ree -sto r y, 30 ,00 0 SF m ix ed-use de velopm ent .
Thi s proj ec t, inc ludin g a res tau r ant , o ffi ce sp ace , a nd purc hasab le lof ts , i s e xp ect ed
to beg in in qu arte r on e of 20 24.
• 516 Ma in S tree t Remedi ati on: The U RA pla yed a cru ci al r ole i n p r ovidi ng
remedi ati on on 516 Main St r eet , e nab li ng t he A mano resta uran t g r oup to build a
new spa ce in Q1 of 202 4. A m ano w as award ed t he si te thro ugh an RFP proces s.
The co mpl etion of the ph ase on e and p hase t wo rep orts, in part nershi p wit h a
bro wn fie lds g r ant co ordinat ed by the D epa r tme nt of En vi r onm ent al Qua li ty (D EQ),
w as r ec ently final iz ed in 202 3. T he Ag ency is in th e p r oce ss of co mpl eting the l ast
st eps of rem edi ation on the site to prep are for fut ure dev el opme nt. C ons tructi on for
the 8,850 SF re sta uran t i s sc hedule d t o c omme nc e i n e arl y 2 024 .
• LPC Wes t Smeed P ark wa y I ndu strial Bui ld ing s: In 202 1, t he A gen cy award ed
an RF P to LPC Wes t (L incol n Pro pert y Com pan y) t o c onstru ct tw o i ndu str ial
sp ecu la tio n b uildi ngs on 23 ac res at S mee d Par kw ay and Skyw ay S tree t. T he
gro undbrea ki ng cere mon y t ook plac e i n Decemb er 2 022 , a nd the co m pl eti on of the
two b ui ldings t otalin g 3 96,480 S F an d a n inv est men t o f $6 5 m il li on is ant ic ip ated by
ear ly 202 4.
• Wol fe F ield Pa r ki ng Lot D esign: The U RA seize d t he opp ortu nit y t o d esign two
par ki ng lot s a t Wo lfe Fie ld , s trat egi ca ll y p laced on each end of the fa ci lit y. Th e
pro ject a im s t o e nhan ce pa r ki ng acc es si bilit y f or visit ors att end in g acti vi ties at t he
facilit y and oth er e ven ts in th e v ic inity. Wh il e t he des ig n ha s been fina li zed ,
co nst ruc tio n is yet to co mme nce on th is fut ure projec t.
• Downtown F es tival Stre et Con ce pt: To ex ten d t he I ndian Cr eek Pla za in
downt ow n Caldwel l, the U RA colla bora ted w ith archi tec t, Cu shing Te r rel l t o d esign a
"Festi val Str eet" co nc ept. This projec t inv olves rem oving pa r ki ng sta ll s a lo ng Art hur
S tree t a nd 7th Ave nue S out h t o c r eat e a mor e wal kab le do wn town a tmo sph ere,
al ign in g wit h t he Ci ty's v is ion fo r gro wt h in t he downt ow n c ore.
• Downtown Vin eya r d Red eve lo pmen t: T he URA a ssist ed with the de si gn of t he
Vin eya rd r edevel opm ent pro ject, focus ing on rem oving vine yard s betwee n I ndi an
C r eek an d Ki mba ll Ave nue . Th e s ite i s conven ien tly l oc ated j ust so uth of th e G r it
res tau r ant , a popul ar e ati ng des ti nation , a nd wi ll dra w more ped es tria n a ctivity to
the are a. T he projec t i nc lud es add in g mo re sea tin g a nd pla za-like fac ade
im prov eme nts , wi th con stru ct ion slat ed t o b egin in 2024.
• Cente nnial Park wa y M edian Imp r ov emen t: Ce nte nni al P ark wa y, a maj or
tho roug hfa r e f or t r uc k a nd veh ic ul ar tr aff ic , un derwen t impr ove men ts by the Agen cy.
The rec onf igu ration en abl es enh anced turn mo vem ent s a nd imp r ov ed cir culation in
the are a.
• Flo r id a Av enu e a nd Us tick Ro ad Ro und abo ut: T he in ters ect io n o f Fl ori da
Ave nue an d Ust ic k Roa d re ceive d a rou nda bou t i nst al lat ion i n 2 023, i mpro vi ng
tra ffi c f lo w in ant ic ipa tion o f t he growth ex pec ted fro m n ew res id ential an d
co mmer ci al projec ts in the are a.
• Mi ddl eto n Roa d an d Us tick Ro ad Ro undabou t: A noth er r oundabo ut wa s
in sta ll ed at Mid dle ton R oad an d Ust ic k Roa d i n 2 023 , a ddre ss ing incre ased t r aff ic
dem and s in one of the co mmu nit y's bu siest in tersec tio ns . Th is im prov eme nt align s
w ith th e re cen tly c omp let ed Usti ck bri dge pro je ct.
• Lub y Pa rk E nhan ce ment : L uby Park, loc ate d n orth of the 10 th Aven ue E xi t
(Exi t 2 8), r ec eived upg rade s, in cl udi ng eight pi ckle bal l cou r ts and an up dat ed
irriga tio n sys tem . Th ese en han cem ent s cat er to re sid ent s wh o l iv e n orth of I-84 an d
offer a re crea ti onal s pot fo r visito r s inte res ted in pick le ba ll ac tivit ies a nd
tou rnam ent s.
• 21st Aven ue Pa rking Lot : Com m enced in 20 22 and co mpl ete d i n 2 023 , th e 2 1st
Ave nue pa r ki ng lot ai ms to enh anc e p ark ing in th e a r ea, pa r ticul arl y serv in g Si m pl ot
S tad ium , t he O'C onn or Fiel d Hou se, an d t he D&B Arena (home to th e Cal dw ell
N igh t Rod eo). RV sl ip s a r e a ls o i nc lud ed to accomm oda te ext end ed visit or sta ys .
• B lu e Bi r d Pl ace : Th e Cit y part ic ipa ted in im provem ents o n Bl ue Bird Plac e
tri gge r ed by the Blu e Bi r d Car Was h's new c ons tructi on projec t. T he additi on of
B lu ebi r d Pl ac e, f ac il ita tes tra ve l f r om F r anklin Roa d t o Com m erc ial Wa y. A po r ti on
of this fun din g was direc ted to wa r ds the cons truc ti on of a de celera tio n lane. Th is
add it ion aims to enh ance t raffic flow an d saf ety. I t's an essen tia l ste p t owards
im prov in g o ur l oc al tran spo rtat io n i nfra struct ure and ensuring sm ooth er jou r ney s for
ev ery one in the c ommu ni ty.
• North Ca ld we ll U r ban R enewal Distri ct : In N orth C al dw ell, t he newly
es tab li she d Urba n Ren ew al Dist r ic t a ttra cte d inte res t fr om a l arge -sc ale fo od
man ufa ctu rer name d Pro ject Imag in e. En gag ing Skinn er Fa wc ett LL P for res earch,
the Age ncy a ime d to asse ss ne eds , inv est ig ate fi nancin g o ppo r tun ities , a nd sup port
simi lar fut ure inq ui r ies.
The U RA's end eavors i n 20 23 dem ons trat e a n o ngo ing co mmi tme nt to con tin ue
rev it alizi ng downt ow n Cal dw el l, fos tering ec ono mic de ve lop men t, a nd enh anc in g
the overa ll quali ty of li fe for r es ide nts . Th es e pr oje cts a nd ini ti ati ves a li gn wi th the
C ity 's visio n f or g r ow th and pro gress.
2023 AUDIT
The C ald we ll U r ban R ene wa l Ag enc y is r equ ire d t o pr ovide a comp le te f in anc ia l
st ate ment s etting for th its asse ts, liab il ities , i nc ome and op erat ing expense s. T he
fi nan ci al sta tem ent s can be fou nd in the 20 23 a udit which i s inc lud ed as part of th is
ann ual re port an d i s a tta che d a s a s epa r ate docum ent. Ple as e no te tha t t he a udit
only co vers t hrou gh t he end of the fiscal ye ar, Sept emb er 3 0, 202 3.I
E id e Bailly present ed to the Cald we ll U r ban R ene wa l Bo ard on F ebru ary 12, 20 24
and th ere we r e n o a udi t f ind in gs and th e fina ncial st atm ent s were i ssu ed a cle an
opini on.
BOARD MEMBER CHANGES
The r e were se ve r al boa r d m ember c han ges fro m l as t re port .
A dam Ga ci a was ad ded as a B oard Mem ber
Zac h Bro oks was ad ded as Boar d Me mbe r
Jo e Ram irez was rem ove d a s Bo ard Mem ber
To tal Boa r d m embe rs cha nge d f r om si x t o s even.
NORTH URBAN RENEWAL
A s of Jan uary 1, 20 22, the ba se ye ar f or t he Nor th Reven ue Allo cat io n Area,
as sesse d val ues of ta xab le pro pert ies w it hin th e u r ban ren ew al bou nda r ies t otaled
$20 ,34 0,0 24. A s of Se pte mbe r 30 , 20 23, as se ss ed val ues wit hin th is sa me area
tot al $28,65 8,1 27. P roperty ta x inc r eme nt r eve nue es ti mate d f or t he fisca l yea r
202 4 e qua ls $8 6,5 51.
FY2024 APPROVED BUDGET
Urban Renewal Agency
ACTUALS BUDGET 2024 BUDGET
FY2021 FY2022 FY2023 FY2024 Variance (2024 V. 2023)Variance (%)
ACTUALS BUDGET 2024 BUDGET
FY2021 FY2022 FY2023 FY2024 Variance (2024 V. 2023)Variance (%)
Expenses
Operating
63210 - Annual Audit Services $9,410 $10,940 $14,000 $16,000 $2,000 14%
63215 - Bond Paying Agent Service $5,500 $5,500 $3,500 –-$3,500 -100%
63216 - Bond Issue Services $2,000 $2,000 ––$0 –
63217 - CC/Bond Paying Agent Svc fees $2,000 $2,000 ––$0 –
63220 - Special Projects Services $8,175,979 $7,722,473 $18,107,257 $50,000 -$18,057,257 -100%
63221 - Gen Op-Friends of the Depot $470,000 $75,000 ––$0 –
63235 - Contracted Services $221,627 $219,791 $216,000 $216,000 $0 0%
63310 - Admin/payroll Services $8,000 $8,000 $8,000 $8,000 $0 0%
63330 - Attorney Services $78,000 $78,000 $117,660 $77,220 -$40,440 -34%
64110 - Irrigation Assessment $2,498 $1,677 ––$0 –
64330 - R & M Building $5,415 $5,651 ––$0 –
65200 - Ins, Other than Empl Benefits $10,138 $10,645 $11,177 $12,854 $1,677 15%
65400 - Advertising $720 $3,193 ––$0 –
66350 - General Operating Supplies $230 $212 ––$0 –
OPERATING TOTAL $8,991,517 $8,145,081 $18,477,594 $380,074 -$18,097,520 -98%
Capital
87100 - Land $765,373 $4,120,532 ––$0 –
87500 - Contruction in Progress $20,777 –––$0 –
CAPITAL TOTAL $786,150 $4,120,532 ––$0 –
Other
99810 - Bond Principal $3,925,218 $4,463,792 $1,440,000 –-$1,440,000 -100%
99820 - Bond Interest $361,401 $208,133 $48,600 –-$48,600 -100%
99830 - Loan Principal $275,000 –––$0 –
99840 - Loan Interest $11,000 –––$0 –
99900 - Contingency –$3,973 ––$0 –
OTHER TOTAL $4,572,619 $4,675,898 $1,488,600 –-$1,488,600 -100%
EXPENSES TOTAL $14,350,286 $16,941,511 $19,966,194 $380,074 -$19,586,120 -98%
Urban Renewal
ACTUALS BUDGET 2024 BUDGET
FY2021 FY2022 FY2023 FY2024 Variance (2024 V. 2023)Variance (%)
Revenues
31100 - Property Taxes $10,001,829 $10,953,052 $10,825,471 $85,000 -$10,740,471 -99%
31102 - Property Tax Replacement $115,704 $115,704 $115,705 $0 -$115,705 -100%
31103 - Property Tax Credit/Circuit $139,488 $0 $0 $0 $0 –
34025 - Project Revenue $0 $0 $0 $0 $0 –
34190 - Miscellaneous Revenue $1 $1 $0 $0 $0 –
34774 - Park Impact Fees $0 $0 $0 $0 $0 –
36105 - Accrued Interest Revenue $0 $0 $0 $0 $0 –
36106 - Claims Interest $3,533 $2,480 $0 $60,000 $60,000 –
36110 - Ivest Interest Revenue $973 $2,873 $1,200 $24,000 $22,800 1,900%
36115 - Bond Interest Revenue $465 $20,630 $0 $0 $0 –
36310 - Building Rental $18,100 $22,664 $0 $0 $0 –
36320 - Land Lease $0 $0 $0 $0 $0 –
39100 - Intrfund Oper Transfer In $0 $0 $0 $0 $0 –
39200 - Sale of Fixed Asset $712,869 $0 $0 $0 $0 –
39340 - Bond Proceeds $0 $0 $0 $0 $0 –
39360 - Loan/lease Proceeds $0 $0 $0 $0 $0 –
39380 - Project Admin blding Revenue $0 $0 $0 $0 $0 –
REVENUES TOTAL $10,992,962 $11,117,403 $10,942,376 $169,000 -$10,773,376 -98%
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