HomeMy WebLinkAboutURA RES 1998-01Attachment No. 6
RESOLUTION NO. 1998-1
A RESOLUTION OF THE URBAN RENEWAL AGENCY OF THE CITY OF
CALDWELL, IDAHO RECOMMENDING AND ADOPTING AN URBAN
RENEWAL PLAN, WHICH PLAN INCLUDES REVENUE ALLOCATION
FINANCING PROVISIONS; AUTHORIZING THE CHAIRMAN AND THE
SECRETARY OF THE AGENCY TO TAKE APPROPRIATE ACTION; AND
PROVIDING FOR THIS RESOLUTION TO BE EFFECTIVE UPON ITS PASSAGE
AND APPROVAL.
THIS RESOLUTION, 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 Law of 1965, as
amended, Chapter 20, Title 50, Idaho Code (hereinafter the "Law"), a duly created and
functioning urban renewal agency for Caldwell, Idaho, hereinafter referred to as the
"Agency."
WHEREAS, on or about October 19, 1998 the City of Caldwell, through its
Mayor and City Council, passed Resolutions 88-98 and 89-98.creating an urban renewal
agency, pursuant to Chapter 20, Title 50, Idaho Code, finding one or more areas within
the City of Caldwell to be "deteriorated" or "deteriorating areas" as defined by Idaho
Code Sections 50-2018(h) (I) and 50-2903 (b), finding one such area to include the East
Caldwell area, declaring such area as the Caldwell East Urban Renewal Area, making
additional finding regarding the characteristics of the area, making the necessary finding
as required by Idaho Code Section 50-2008(a) and authorizing the Mayor to appoint five
Commissioners for the Agency; and
WHEREAS, the legislature of the State of Idaho has enacted the Local Economic
Development Act, Chapter 29, Title 50, Idaho Code referred to herein. as the "Act,"
authorizing certain urban renewal agencies (including the Agency), to adopt revenue
allocation financing provisions as part of their urban renewal plans; and
WHEREAS, there has been prepared the Caldwell East Urban Renewal Plan for
the Caldwell East Urban Renewal Area (the "Plan") which has been presented to the
Agency and its Board; and
WHEREAS, such Plan will be tendered to the Planning and Zoning Commission
and to the City Council of the City of Caldwell for their consideration and review as
required by the Law and the Act; and
WHEREAS, under the Act, the Plan shall include a statement listing: (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 districts levying taxes upon
-property in the revenue allocation area; and (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; and
WHEREAS, it is necessary, and in the best interest of the citizens of the City of
Caldwell, Idaho, to recommend approval of the Plan and to adopt, as part of the Plan,
revenue allocation financing provisions that will help finance urban renewal projects to
be completed in accordance with the Plan (as now or hereafter amended), in order: to
encourage private development in the urban renewal area; to prevent and arrest decay of
the Caldwell East Urban Renewal Area due to the inability of existing financing methods
to provide needed public improvements; to encourage taxing districts to cooperate in the
allocation of future tax revenues arising in the Caldwell East Urban Renewal Area in
order to facilitate the long-term growth of their common tax base; to encourage private
investment within the City of Caldwell and to further the public purposes of the Agency;
and
WHEREAS, the Board of Commissioners of the.Agency finds that the equalized
assessed valuation of the taxable property in the revenue allocation area described in
Attachments 1 and 2 of the Plan is likely to increase as a result of initiation of urban
renewal projects in accordance with the Plan.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF
CONMSSIONERS OF THE URBAN RENEWAL AGENCY OF THE CITY OF
CALDWELL, IDAHO:
Section 1: That the Board specifically adopts the Plan.
Section 2: That the Agency recommends that the Plan, a copy of which is
attached hereto as Exhibit 1 and incorporated herein by reference, be adopted by the
Caldwell City Council.
Section 3: That this Resolution constitutes the necessary action of the Agency
under the Act, Section 50-2905, recommending approval by the City Council and that the
Plan includes a statement listing: (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 districts levying taxes upon property in the revenue allocation
area; and (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 that the Plan includes
a revenue allocation provision and that the Agency has determined that the equalized
assessed valuation of the allocation area will likely increase as the result of the initiation
of an urban renewal project.
Section 4: The Chairman, and the Secretary of the Agency are hereby
authorized and directed to take all steps necessary and convenient to submit the proposed
Plan for approval by the adoption of the revenue allocation financing provisions by the
City Council and submittal of the Plan to the various taxing entities as required by Idaho
Code Section 50-2906.
Section 5: That this Resolution shall be in full force and effect immediately
upon its adoption and approval.
ADOPTED AND APPROVED THIS Z?4" DAY OF NOVEMBER 1998.
CHAM19AN
ATTEST:
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