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Home My WebLink AboutURA RES 2021-12 RESOLUTION NO. RESOLUTION ACCEPTING THE ANNUAL ACTIVITIES REPORT FOR CALENDAR YEAR 2020 OF THE CALDWELL URBAN RENEWAL AGENCY. BE IT HEREBY RESOLVED by the Caldwell Urban Renewal Agency of Caldwell, Idaho, has accepted the Annual Activities Report for Calendar Year 2020 of the Caldwell Urban Renewal Agency made a part hereof as set forth in full. PASSED BY THE CALDWELL URBAN RENEWAL AGENCY of the City of Caldwell, Idaho this 81h day of March, 2021. APPROVED BY THE CHAIRMAN OF THE CALDWELL URBAN RENEWAL AGENCY of the City of Caldwell, Idaho this 81h day of March, 2021. Appr BY 72/ V C man ATTEST: BY Secretary -0006 C,04,P el MEMORANDUM TO: Caldwell Urban Renewal Agency Meeting Date March 8th , 2020 1. 8 t AGENDA ITEM INFORMATION SUBJECT.- Department Submittals X to Initials Urban Renewal Agency Annual Activities Report mark g y p Building Department for Calendar Year 2:020, per Idaho Code 50-2006(c). CDBG Clerk x dg City Attorney Finance Department x chm Human Resources Planning&Zoning Fire Department Police Department Public Works Street Department Water Department WWTP Engineering Mapping COST IMPACT. NIA Parks and Recreation FUNDING N/A Airport SOURCE: Information Systems TIMELINE: Due March 31 st Golf Course OTHER: SUMMARYSTATEMENT. An agency authorized to transact business and exercise powers under this chapter shall file, with the local governing body, on or before March 31 of each year a report of its activities for the preceding calendar year, which report shall include a complete financial statement setting forth its assets, liabilities, income and operating expense as of the end of such calendar year. The agency shall be required to hold a public meeting to report these findings and take comments from the public. At the time of filing the report, the agency shall publish in a newspaper of general circulation in the community a notice to the effect that such report has been filed with the municipality and that the report is available for inspection during business hours in the office of the city clerk or county recorder and in the office of the agency. Report was presented to City Council on February 16th,2021 and they called for the Public Meeting to be held March 8th, 2021 at 7:00 pm. See Exhibit A for the financial statements setting forth assets, liabilities, income and operating expense as of the end of Calendar year 2020. See Exhibit B for the activities report for Calendar year 2020. RECOMMENDED ACTION: Approve Calendar Year 2020 Annual Activities report for the Caldwell Urban Renewal Agency. CALDWELL EAST URBAN RENEWAL AGENCY Statement of Revneues,Expenditures,and Changes in Fund Balances Governerrintal Funds For Year Ended.December 31,2020 Per Audit Deletions Additions Unaudited Fiscal year Oct-Dec Oct-Dec Calendar 2020 2019 2021 Ad j ustments, Year 2020 EXPENDITURES Current: Urban Rene 7,069.302 92,106 2,212,681 9,189,877 Capital Outlay 614,000 765,373 1,379,373 Debt Service: Principal 4,052,034 - 4,062,034 1 nterest 529,358 - - 529.358 Total expenditures 12,264,694 92,106 2,978,054 - 15,150,642 REVENUES Property Taxes 9,984,305 $ 635,107 $ 910,630 10.259,828 Interest 59,659 24,103 1,566 37,122 Unrealized Gain 16 - - 16 Gain on Saleof Land - - - - Miscellaneous 25,885 4,620 7,320 28,585 Total Revenues 10,069,865 663,831 919,516 10,325.,550 Excess(Deficiency)of Revenues Over(Under)Expenditures (2,194,829) 571,724 (2,068,538) (41825,091) 07 HER F1 NANCI NG SOURCES(USES): Poceeds From Sale of Land - Bond Proceeds Total Other Financing Sources(Uses) - Net Change in Fund Balance (2,194,829) 571,724 (2,058,538) Fund Balance Beginning of Year 19,046,943 19,046,943 19,618,667 19,618,667 Fund Balance End of Year $ 16,852,114 19.618,667 $ 17,560,130 $ $ 14,7931576 CALDWELL URBAN RENEWAL AGENCY Bat ante Sheet Governmental Funds December 31, 2020 ASSETS Cash and Cash Equivalents 12,809,699 Taxes Recei vabl e 10,421,081 Accounts Receivable 901 Notes Receivable 3,973 Restricted Cash and Cash Equivalents 4,425,201 Land held for development 2,321,191 Construction in Process - Total Assets 29,982,046 LIABILITIES, DEFERRED INFLOWS OF RESOURCES,AND FUND BALANCES LIABILITIES Vouchers Payable 2,446,197 Interest Payable 29,195 Long Term Liabilities Due Within One year 4,200,218 Due After One year 6,004,078 Toted Liabilities 12,679,688 Deferred Inflowsof Resources: U navai I able- Property Taxes 10,171,793 Fund Balance Nonspendable 3,973 Restricted for: Debt Service 101,094 Bond Revenue Allocation 2,438,342 Reserve Fund 1,885,765 Urban Renewed Projects 2,701,391 Total Fund Balance 7,130,565 Total Liabilities, Deferred Inflowsof Resources, and Fund Balance 29,982,046 � / Urban Renewal Annual Activities Report—CaUendmrYemr 2020 Per Idaho code, SU-2O0Okdth��m|dvveUUrbenRane�a{Agmnoyhyrequiredio�|e� nepo�ofauUvid�8forthe | ` ' � preceding calendar year with the local governing body. Included in your packets ka Urban Renewal's Statement of � | Revenues, Expenditures and Changes in Fund Balance for calendar year ending December 31, 2020, which reports the agency's revenues and operating expenditures, and the Agency's Balance Sheet as of December 31, 2O2D, which reports the agency's assets, liabilities. The code also requires that the agency hold m public meeting to take comments and that meeting ia currently scheduled for Monday, K8annh 8, 2021 ot7:OO pm here in the community room. | | During 2U20 the Agency's activities were: � * In September 2019, McCain Food Company purchased 20 acres for construction of a state-of-the-art food- processing center. Construction is scheduled to begin in 2021. ! � ° |n2O18. The Agency recently received from the City of Caldwell e property located in downtown atthe | corner of Kimball and Arthur Street. The site, the former location of Mr. C'o Carpet, includes a vacant lot � and a small concrete building. }n the summer of2O2O. the small concrete building was demolished. The Agency has drafted uRFP for the site for development project vv/thpropoea|edueinFebruary2O21. ° The Agency is holding 1.21 acres in downtown Caldwell for future development. The Agency has received � a proposal from a development company for consideration. |tia anticipated o multi-use development atthe site that could blend oommero/a|/nebail. office and residential. The Agency and the developer are in negotiations and the proposal ia due back for review in early February 2021 ° The Agency is in negotiation on the sale of an 8.2-acre lot at the corner of KCID Road and Linden Road. /t ! ia anticipated closing in early 2U21. � * During 2020, the Agency continued to review establishing a second revenue allocation area northwest of | / the City. i p In February 202O, The Aomm�oomm��m�tobui� n��e � inh�s�o�rehor��e��ns�mof�n | ~ - | Canyon County Fairgrounds. This effort will include tiling e drain that runs through the property, constructing pedestrian bridges, and other basic infrastructure needs for the future building. ! | * In March 2020, the URA purchased an underutilized property at 318 Kimball (the former Cleveland Event ! Center) inan effort to eliminate slum and blight in downtown Caldwell. The Agency published aFlFPand | / received an acreptable proposal from Mussell Construction for the renovation of the building. The agency ia currently in process of adopting the final DQA. Aa part of the overall plan for the site, the Agency � continues to negotiate with an adjacent property owner for acquisition of a vacant lot that might provide � ! parking for the project ed318Kimball. /tia anticipated that the acquisition of said property will occur inearly . 2021. � � * |n April 202O. The Agency started working to provide public infrastructure(wohar' sewer, roadway, etc.)at ! | an underutilized site inEast Caldwell. A commitment of$3.5 million for infrastructure upgrade bothe area will allow opportunity for commercial and industrial development to the region along Highway 20/26 near the 1-84 exit29 in Caldwell. The new business pork. North Ranch Business Center. is located at the NW corner ofSmeed Parkway and Highway 20/2O. � m |n May 202O. The Agency collaborated with the City to provide stadium lighting boVVolfe Baseball Field and ' Simplot Stadium as way to provide additional economic opportunities to these fields to play ball games in the evenings. • In June 2020, the Agency acquired approximately 15 acres of underutilized property adjacent to the Caldwell Industrial Airport. This property will be utilized by the airport for the construction of additional airport-related infrastructure and provide opportunity for building of aircraft related businesses on City- owned land (leased). • In July 2020, the Agency purchased an airplane hangar building at 5001 Aviation Way at the Caldwell Industrial Airport. The vacant hanger will be renovated to serve as an educational building for an aircraft maintenance program. The A&P Program will be conducted by Treasure Valley Community College...the College will lease the facility from the City. Classes are expected to begin in late 2021 or early 2022. • During the months of June and July 2020, The Agency remodeled the restrooms at Simplot Stadium, demolished, and reconstructed a new restroom facility located next to the rodeo grounds to enhance the amenities at the Caldwell Events Center Campus. • In August 2020, The Agency in its efforts to work towards beautification of the North Caldwell area, it demolished and constructed a new restroom facility at Lions Park, formerly known as the Jaycee's Park. • In late 2020 (December), in an effort to eliminate slum and blight, the Agency purchased the Bennett Machine shop, and adjacent lot, located in downtown Caldwell. The business will be relocating to a site more conducive to the use, and the property will publish a RFP for reuse of the site in early 2021. • The Agency continues to participate with the City in a fagade and fire sprinkler incentive program for buildings fronting the plaza. This fagade and fire sprinkler incentive program will provide property owners financial resources to beautify their building and display a revitalized downtown. • The URA has committed$5,000,000 for the expansion of Ustick Road and an additional $3,600,000 for the expansion of Ustick Bridge to five lanes over the freeway. This is a major roadway throughout the region, providing important connectivity of rural Canyon County, through Caldwell, and further east into Boise. The expansion efforts will also include reconstruction of a bridge/overpass to 1-84. • Business Incentive Grant for Cold Steel Constructors continued through 2020. In January 2020, Fresca Foods started their incentive participation. In April 2020, Syringa Networks, Price Pump, Capital Distributing and American Food Equipment's second grant all started. One application for the Business Incentive Grant for McCain Foods is pending final application. PUBLIC NOTICE Caldwell Urban Renewal Agency NOTICE IS HEREBY GIVEN that pursuant to Idaho Code 50-2006(c), the Caldwell Urban Renewal Agency has filed the Annual Activities Report for Calendar Year 2020 with the Caldwell City Clerk. The report describes the Caldwell Urban Renewal Agency's activities for the preceding year, and includes a complete financial statement. The 2020 Annual report will be presented to the Caldwell Urban Renewal Agency Board of Commissioners on Monday, March 8, 2021 at 7:00 p.m. at the Caldwell Police Department Community Room (110 South 5th Avenue) for the purpose of receiving public comment. The report is available for inspection and public comment during business hours in the office of the Caldwell City Clerk/Caldwell Urban Renewal Secretary, located at 411 Blaine Street, Caldwell, Idaho. For further information, please call (208) 455-4656. PUBLISH: February 28, 2021