The districts and their money

Lake City Development Corp. oversees two urban renewal districts in Coeur d'Alene, and a third district is being considered.

The Lake District was formed first, in 1997. It includes 729 acres that encompass McEuen Park and its surrounding neighborhood, Fourth Street from McEuen Park to Harrison Avenue, most of the downtown area along Sherman Avenue, Northwest Boulevard from Sherman to Riverstone, the higher education corridor, and a portion of Blackwell Island.

In the Lake District, LCDC has approved $30,767,336 for 43 economic development projects, and has spent $26,002,056. The agency is still paying for eight projects and owes $4,762,120.

The Lake District will be dissolved in 2021 when those projects are finally paid for.

The River District abuts the Lake District at Riverstone and encompasses most of the property to the west of Riverstone, south of Interstate 90 and north of the Spokane River before terminating at Huetter Road. It includes 370 acres but excludes about 70 acres where the old Atlas Mill operated, but that 70 acres could become a separate district in the near future.

LCDC created the River District in 2003, and that district will dissolve in 2027. So far the agency has approved $12,857,745 for nine economic development projects, and spent $3,956,759. LCDC still owes $8,900,986 for eight of those projects.

The money is allocated to the projects through different agreement methods between LCDC and private developers.

Essentially, developers agree to fund the cost of public infrastructure that is necessary to develop the land. LCDC will then reimburse the developer with a portion of the new tax revenue that is generated by the new development.

LCDC has three different types of agreements: Owner Participation Agreements (OPA), Disposition and Development Agreements (DDA), and Improvement Reimbursement Agreements (IRA). In certain cases, LCDC also provides direct grants.

-Jeff Selle