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Home My WebLink AboutURA RES 2024-14RESOLUTION NO. � 3 a `t A RESOLUTION OF THE URBAN RENEWAL AGENCY OF THE CITY OF CALDWELL, IDAHO APPROVING THE BUDGET FOR FISCAL YEAR BEGINNING OCTOBER 1, 2024. THIS RESOLUTION is made on the date hereinafter set forth by the Urban Renewal Agency of the City of Caldwell, Idaho an independent public body corporate and politic, authorized under the authority of the Idaho Urban Renewal Agency Law of 1965, as amended, Chapter 20, Title 50, Idaho Code, a duly created and functioning Urban Renewal Agency for Caldwell, Idaho, hereinafter referred to as the "Agency;" and WHEREAS, pursuant to Idaho Code §50-1002, the Caldwell Urban Renewal Agency held a public hearing on August 12, 2024 for consideration of the FY-2025 budget; and WHEREAS, the FY-2025 budget amounts to $1,899,525 expenditures; NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE URBAN RENEWAL AGENCY OF THE CITY OF CALDWELL, IDAHO: Section 1. To approve the FY-2025 Budget for the fiscal year beginning October 1, 202, a copy of which is attached as Exhibit A and incorporated by this reference. ADOPTED AND APPROVED THIS 12 THE% U`t. QRPOR,�� n 7 ATTEST: SECRETARY CALDWELL URBAN RENEWAL AGENCY The Caldwell Urban Renewal Agency (CURA) is a governmental entity focused on revitalizing and enhancing designated areas within the City of Caldwell, Idaho. Its primary goals are to stimulate economic growth, improve infrastructure, and enhance the overall quality of life for residents. PURPOSE CURA typically operates under the guidance of city officials and community leaders, using a variety of tools and strategies to achieve its objectives. These may include: 1.Infrastructure Development: CURA invests in public infrastructure projects such as road improvements, utilities upgrades, and public spaces like parks and recreational facilities. 2. Property Development: The agency may acquire and redevelop underutilized or blighted properties to attract private investment and improve the aesthetic and economic value of the area. 3. Business Incentives: CURA may offer incentives and grants to businesses willing to relocate or expand within the designated urban renewal areas, thereby fostering economic development and job creation. 4. Housing Initiatives: In some cases, CURA may support housing projects aimed at providing affordable housing options or improving the housing stock in the area. 5. Community Engagement: The agency often engages with local residents, businesses, and stakeholders to gather input, address concerns, and ensure that redevelopment efforts align with community needs and aspirations. 6. Long-term Planning: CU.RA typically develops comprehensive plans and strategies to guide redevelopment efforts over the long term, ensuring sustainability and continued growth. Overall, CURA plays a crucial role in the urban development and revitalization of Caldwell, working to create vibrant, livable neighborhoods and enhance the city's economic vitality. The North Caldwell Urban Renewal Allocation Area refers to a specific designated zone in Caldwell, Idaho, where urban renewal efforts are focused. This area is identified for targeted revitalization and redevelopment initiatives aimed at improving economic conditions, enhancing infrastructure, and fostering community growth. Key features and aspects of the North Caldwell Urban Renewal Allocation Area include: Geographical Scope- It encompasses a defined region, which include specific neighborhoods, commercial corridors, or industrial zones identified for redevelopment. Development Goals- The primary objectives revolve around revitalizing blighted or underutilized. areas, improving public infrastructure such as roads, utilities, and parks, and promoting economic development through the attraction of new businesses and investments. Property Acquisition and Redevelopment- The North RAA often involves the acquisition of properties that are vacant, deteriorated, or have development potential. These properties may be redeveloped or repurposed to enhance the overall attractiveness and functionality of the area. Community Engagement- Stakeholder involvement and community engagement are crucial components of the Caldwell Urban Renewal Agency strategy. This includes soliciting input from residents, businesses, and local organizations to ensure that redevelopment efforts align with community needs and aspirations. FY2025 REVENUE W2025 Urban Rene,val FY2025 EXPENSE FY2025 Urban Renewal $54,264 S85,000 $92,500 $54,264 $85.000 $92,500 $54,264 $85,000 $92,500 $10,825,375 - - $115,704 - - $23,551 - $118,792 $60,000 $12,000 S45,869 $24,000 $24,000 $46,485 - - $729 $7,2S7,352 - - $18,433,857 $84,000 $36,000 $18,433,857 $94,000 $36,000 $18,488,122 $169,000 $128,500 $18,498,122 $169,000 $128,500 $28.000 $16,000 $17,300 $3,500 - - $16,321,767 $5237,347 S1,500,000 $216,000 $226.800 $226,800 $8,000 $8,400 $8,400 $117,660 $77,220 $81,600 $50,850 - - $478 $760 - $11,177 $12,854 $15,425 $778 - - $288 - - $1,440,000 - - $48,600 - - $18,247,859 $5,578,621 $1,949,525 9% $7,500 9% $7,500 9% $7,500 $0 $0 $0 -80% 448,000 0% $0 $0 $0 $0 -57% 448,000 -57%-$48,000 -24%-$40,500 -24% 440,500 8% $1,300 - $0 - .71% -$3,737,347 - 0% $0 - 0% $0 - 6% $4,380 - $0 $0 _ $0 - 20% $2,571 - $0 $0 $0 - $0 - .67% -$3,729,096 General 63220 - Special Projects Services 63330 - Attorney Services 63570 - Professional Services GENERALTOTAL ADMINSTRATION TOTAL URBAN RENEWAL AGENCVFUND TOTAL EXPENSES TOTAL Revenues Epense5 Difference (S) ACMALS BUDGET M&O PROPOSED BUDGET FY2025 CAPITAL FY2023 FV2024 FY2025 FV2025 Variance(%) Variance (S) ACTUALS BUDGET I MBO PROPOSED BUDGET PROPOSED OP FY2023 FY2024 FY2025 FY20M FY2025 CITY OF CALDWELL WEBSITE TABLE OF CONTENTS Notice of Public Hearing Proposed Budget for Fiscal Year October 2024 - September 2025 (FY-2025) Urban Renewal Agency of the City of Caldwell Idaho A public hearing, pursuant to Idaho Code 50-1002, for consideration of the proposed budget for the fiscal year that begins October 1, 2024, and ends September 30, 2025, will be held in the Council Chambers, City Hall, 205 s 6th Ave Caldwell, ID 83605, at 6:00 p.m. on August 12, 2024. Comments, written or otherwise, about the proposed budget are welcome. Copies of the proposed FY-2025 Urban Renewal Budget (in detail) are available at City Hall from 8:00 a.m. to 5:00 p.m. weekdays. City Hall is accessible to persons with disabilities. Anyone desiring accommodations for disabilities related to the budget documents or to the hearing, please contact the Office of the City'Clerk, (208) 455-3000, at least 48 hours prior to the public hearing. FY 2022 FY 2023 FY 2024 FY 2025 Actual Actual Budget Proposed FUND Expenditures Expenditures Expenditures Expenditures General Fund $ 10,953,052 $ 19,966,194 $ 5,628,619 $ 1,899,525 FY 2021 FY 2022 FY 2023 FY 2024 Actual Nan- Actual Non- Budget Non- Proposed Non - Tax Increment Tax Increment Tax Increment Tax Increment FUND Revenue Revenue Revenue Revenue General Fund $ 164,351 $ 1,200 $ 84,000 $ 36,000 FY 2021 FY 2022 FY 2023 FY 2024 Actual Actual Budget Proposed Tax Increment Tax Increment Tax Increment Tax Increment FUND Revenue Revenue Revenue Revenue General Fund $ 10,257,021 $ 10,941,176 $ 85,000 $ 92,500 TOTAL All Revenue 10,421,372 10,942,376 169,000 128,500 * Use of Fund Balance, R.E. or Balance Sheet Changes (531,680) (9,023,818) (5,459,619) (1,771,025) Revenue to meet Expenditures $ 10,953,052 $ 19,966,194 $ 5,628,619 $ 1,899,525 I,Debbie Geyer, City Clerk of the City of Caldwell, Idaho, do hereby certify that the above is a true and correct statement of the proposed expenditures and revenues for fiscal year 2024, all of which have been tentatively approved and entered at length in the Minutes of the Agency. I further certify that the Urban Renewal Agency of the City of Caldwell, Idaho, did give notice for said hearing with notice having been published twice at least seven days apart prior to the adoption of the budget by the Board of Commissioners. Citizens are invited to attend the budget 0. hearing on August 12, 2024, at 6:00 p.m. and have the right to provide written or oral comments concerning the entire budget. A copy of the proposed Urban Renewal Agency budget (in detail) is available at City Hall for inspection during regular office hours, 8 a.m. to 5 p.m. Publication Dates: August 4 and August 11, 2024 MEMORANDUM TO: Caldwell Urban Renewal Agency Meeting Date August 12 92024 AGENDA ITEM INFORMATION SUBJECT: FY2025 Budget g Department Submittals X to mark initials Building Department CDBG Clerk Ci Attorney Finance Department x RN Human Resources Planning & Zoning Fire Department Police Department Public Works Street Department Water Department WWTP Engineering Mapping COST IMPACT: Parks and Recreation FUNDING SOURCE: Airport Information Systems TIMELINE: FY2025 Golf Course OTHER: SUMMARYSTATEMENT.• Approval of the FY2025 budget as proposed RECOMMENDED ACTION: Approval of the FY2025 budget as proposed