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Annual Report for Calendar year 2014

Annual Report for Calendar year 2014. Annual report required by March 31 under Idaho Code 50-20 Urban Renewal Law, Chapter 2006 (c).

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Annual Report for Calendar year 2014

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  1. Annual Report for Calendar year 2014

  2. Annual report required by March 31 under Idaho Code 50-20 Urban Renewal Law, Chapter 2006 (c). • Operations are conducted in the Agency leased office space located in the Chamber of Commerce building. Most of the Agency activities fall under one of several committees, those being: • Finance and Policy Committee • District Review Committee • Communication, Property and Personnel Committee These Committees will meet only if necessary. Activities will continue through a Commission Workshop setting the week prior to the Agency monthly Commission Meeting.

  3. Existing Urban Renewal Districts Center Point Four Square Greenstone Stateline East Post Falls North Central South West Seltice Expo City Center Riverbend Closed November 2012

  4. District Data Overview DistrictCreatedTermReceivedBalance • Centerpoint 2002 20 $ 876,087 $ 4,173,491 • City Center 1994 24 $ 433,636 $ 5,607.13 • EPF – South/Central 200220 $2,146,367 $ 2,691,378 • EPF – Tullamore 2005 17 $ 237,253 $ 1,592,631 • EPF - Tullamore Commons II $ 13,957 $ 325,000 • Expo 2001 20 $ 266,315 $ 3,734 • West Seltice II 2005 15 $ 109,678 $ 1,209,033

  5. TAX INCREMENT BY DISTRICT

  6. 2014 HIGHLIGHTS • City Council appointed Paula Rehrmann and Len Crosby to the Commission in January and Debra Wunderlich was appointed to the Commission in February, 2014. • A contract with J-U-B Engineers, Inc. was renewed to provide construction oversight as Owner’s Representative for the Agency on the Greensferry Overpass Project. • A $10,382,906 Design Build contract was awarded to Ralph Wadsworth Construction for the Greensferry / I-90 Overpass. • A $1,952,779 contract was awarded to Cameron-Reilly Construction for Spokane Street revitalization project • Construction on the Spokane Street revitalization began in October. The major part of the project work to be completed in summer 2015 will be the chip seal of Spokane Street. • Approve and close Washington Trust Bank loan of $13 Million for Overpass • Approve and close Community 1st Bank loan of $1.2 Million for Spokane Street • Approval of Owner Participation Agreement for Copper Basin Construction as new proponent for Tullamore as assigned from Panhandle State Bank.

  7. FINANCIAL HIGHLIGHTS Fiscal Year Comparables20132014 • Increment Revenue $4,477,249 $4,069,877 • Interest Revenue $ 26,910 $ 3,752 • Assets (Cash) $6,704,617 $5,456,700 • Liabilities (Loan) $ -0- $ -0- • Proponent Obligations $8,312,162 $7,303,890 • Approved Operating Budget $ 181,757 $ 188,286 • Actual Operating Expenses $ 179,602 $ 168,730 (This page is based on Fiscal Year End for comparison to Annual Audit)

  8. Thank You!

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