Blackfoot Urban Renewal Agency (BURA)

BLACKFOOT URBAN RENEWAL AGENCY AGENDA September 13, 2022 Clty Hall Chamber Room 7000 a. m. The Blackfoot Urban Renewal Agency is a citizen advisory group that is responsible for revenue allocation financing provisions that assist in the finance of urban renewal projects to be completed in accordance with the Urban Renewal Plan. The main focus of the Agency is to prevent and arrest decay of the urban renewal areas 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 urban renewal in order to facilitate the long- term growth of their common tax base; to encourage private investment within the City of Blackfoot and to further public purposes of the Agency. The following is the official Agenda of the Blackfoot Urban Renewal Agency. I. CALL TO ORDER. II. INTRODUCTION OF GUESTS . III. DISCLOSURE OF CONFLICT OF INTEREST. IV. APPROVAL OF MINUTES. - Approval of July 12, 2022 meeting minutes: Action Item V. DOWNTOWN Ratify Geri Bloom ( Tumbleweed Saloon) Facade # 1 project revision : Action Item Update on Milmor Project - Zac Fillmore VI. RIVERVIEW VII. OTHER BUSINESS Move out of General Sessions for Public Hearing on Tentative Budget Fiscal Year 2023: Action Item Discuss district development - creating new BURA districts: Action Item Financial Report: Action Item Ratify August Payables: Action Item September Payables: Action Item Mayor' s Update ADJOURNMENT EXECUTIVE SESSION PURSUANT TO IDAHO CODE SECTION 74- 206( a)-( f) t) Litigation or controversies NEXT MEETING —October 4, 2022  PROPOSED BUDGET FOR FISCAL YEAR ZULL- L023 ( FY2023) BLACKFOOT URBAN RENEWAL AGENCY Notice is hereby given that the Blackfoot Urban Renewal Agency , will hold a public hearing for consideration of the proposed budget for the fiscal period October 1, 2022 to September 30, 2023 said hearing to be held at City Hall Council Chambers on 157 N Broadway Blackfoot, Idaho at 7: 00 a. m. on September 13, 2022. At said hearing all interested persons may appear and show cause, if any they have, why said proposed budget should not be adopted. Downtown Riverview Total District District Projected Income Investment Income 2, 000 $ 2, 500 $ 4, 500 Property Tax Revenues 6501000 $ 450, 000 $ 1, 100, 000 Total Budgeted Income 652, 000 $ 452, 500 $ 1, 104, 500 Planned Expenditures Administrative Expenses Administrative Costs 1, 000 $ 1, 000 $ 2, 000 Accounting and Legal 9, 000 4i9, 000 $ 181000 1, 000 $ 1, 000 $ 2, 000 Office and postage Total Administrative Expenses 11, 000 $ 11, 000 $ 22, 000 Project Related Expenditures Downtown District Projects Fagade Improvement Grants 78, 600 $ 78, 600 Blight & Development Projects 1, 598, 051 $ 1, 598, 051 Riverview District Projects Fagade Improvement Grants 100, 000 $ inn ,000 Blight & Development Projects 1, 400, 000 $ 1, 400, 000 Total Project Related Expenditures 1, 676, 651 $ 1, 500, 000 $ 3, 176, 651 Long Term Debt and Purchase Loan 0$ 20, 000 $ 20, 000 Tax Anticipation Note Due 420, 664 $ 225, 000 $ 645, 664 Total Expenditures 2, 108, 315 $ 197563000 $ 33864, 315 Budgeted Current Change in Cash 1, 456, 315-$ 1, 303, 500-$ 2, 759, 815 Projected 2022 Cash Carryforward Balance 15553, 283 $ 13429, 281 $ 2, 9823564 Projected Cash Balance at September 30, 2023 96, 968 $ 1257781 1)222, 749