Many articles have been written about the pros and cons of urban renewal in the State of Idaho. We, the Post Falls Urban Renewal Commission, would like to take this opportunity to share with you, from our point of view, what urban renewal really is and what benefit it has been to our community.After the City Council passed a resolution in 1991 creating a new Urban Renewal Agency in Post Falls, the Agency commissioners were nominated by the Mayor and formally appointed by the City Council.

According to our by-laws, the purpose of the Post Falls Urban Renewal Agency (PFURA) is to plan and carry out redevelopment projects. The Agency will address areas within the City that are economically disadvantaged, deteriorated and blighted, and develop plans, in conjunction with the city's Comprehensive Plan, whereby those areas may be rehabilitated, and public and private development encouraged. The Agency is given authority to exercise the powers and authority, and assume the responsibilities delegated to it, according to the provisions of Title 50, Chapters 20 and 29 of the Idaho Code.In the six Post Falls urban renewal districts, some are more focused on economic and business development, and others look more at community development. One focus in this article is on the Riverbend District which has been a resounding success and prime example of urban renewal efforts focused on economic and community development. The Riverbend Urban Renewal District at Commerce Park is one of the earlier and more successful districts. It was created in 1997 with a base assessed value of $3,785,643 on 330 acres. The developer's cost for construction of public infrastructure was $3,834,077, which was reimbursed from the increase in property taxes. This public infrastructure has been deeded over to the City, so the bottom line is city streets, etc., were paid for by community property taxes.

This urban renewal partnership has supported the growth in the district of $48,913,535 in new construction resulting in 1,251 new jobs created with above average wages and benefits, resulting in an annual payroll of nearly $52 million. The Agency's obligation to the developer will be fully paid in August 2012 and the district will then be officially closed by the end of December 2012.Reimbursement of costs was based on the Riverbend District bringing in enough new businesses to achieve an increase in the assessed value within the district. The increase in assessed value results in incremental taxes on the new construction being collected and paid to the Agency. Thereafter on a semi-annual basis, the funds were remitted to the developer as reimbursement of their up-front costs of infrastructure construction. This puts the risk entirely on the developer because if they do not bring new businesses to the development, there will not be new taxes, and the developer will see limited reimbursement.

All districts have a fixed termination date in the approved district plan. If the developer is not fully reimbursed for their initial cash outlay prior to the termination date, they will receive no further funds from Urban Renewal to reimburse their costs. If the developer is fully reimbursed prior to the termination date, the district could be closed early. Once a district is closed the annual tax increment would then be allocated back to the taxing districts, resulting in a potential reduction in the levy rate applied to individual property tax parcels.In bringing new business and jobs to Post Falls, particularly in competing with other communities, we need affordable, developed commercial property available to businesses considering Post Falls for their relocation, expansion or start-up. The urban renewal partnership is the most effective way to encourage new business and job creation in the most responsive timeframe.

Our mission statement says we are, "to encourage sound economic and community improvement that enhances the overall quality of life in Post Falls, by providing and improving infrastructure, attracting jobs, and enhancing safety and health." We do our best to accomplish this mission "for the community". We invite you to take a closer look at the Post Falls Urban Renewal Agency by visiting our website at: www.pfura.com.

Bobbi Rollins, Chairperson

Peter Smith, Vice ChairmanDavid Holloway, Treasurer

Jerry Baltzell, CommissionerLarry Carstensen, Commissioner

Hilde Shetler, CommissionerTim Short, Commissioner