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Resolution 20-009 signedMERIDIAN DEVELOPMENT CORPORATION THE URBAN RENEWAL AGENCY OF THE CITY OF MERIDIAN RESOLUTION NO. 20-009 BY THE BOARD OF COMMISSIONERS OF THE URBAN RENEWAL AGENCY OF MERIDIAN, IDAHO, A/K/A THE MERIDIAN DEVELOPMENT CORPORATION: A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE URBAN RENEWAL AGENCY OF MERIDIAN, IDAHO, ALSO KNOWN AS THE MERIDIAN DEVELOPMENT CORPORATION, RECOMMENDING AND ADOPTING THE URBAN RENEWAL PLAN FOR THE UNION DISTRICT URBAN RENEWAL PROJECT, WHICH PLAN INCLUDES REVENUE ALLOCATION FINANCING PROVISIONS; AUTHORIZING AND DIRECTING THE CHAIR OR VICE -CHAIR OF THE AGENCY, OR THE AGENCY ADMINISTRATOR, TO TAKE APPROPRIATE ACTION; AUTHORIZING AND DIRECTING THE AGENCY ADMINISTRATOR AND SECRETARY OF THE AGENCY TO MAKE CERTAIN TECHNICAL CHANGES; PROVIDING FOR THIS RESOLUTION TO BE EFFECTIVE UPON ITS PASSAGE AND APPROVAL; AND PROVIDING AN EFFECTIVE DATE. THIS RESOLUTION, made on the date hereinafter set forth by the Urban Renewal Agency of Meridian, Idaho, also known as the Meridian Development Corporation, an independent public body, corporate and politic, authorized under the authority of the Idaho Urban Renewal Law of 1965, Chapter 20, Title 50, Idaho Code, as amended (the "Law"), and the Local Economic Development Act, Chapter 29, Title 50, Idaho Code, as amended (the "Act'), a duly created and functioning urban renewal agency for Meridian, Idaho, hereinafter referred to as the "MDC." WHEREAS, on July 24, 2001, the City Council (the "City Council") of the City of Meridian, Idaho (the "City"), adopted Resolution No. 01-367 establishing MDC; WHEREAS, on October 8, 2002, the City Council, after notice duly published, conducted a public hearing on the Meridian Revitalization Plan Urban Renewal Project, which is also referred to as the Downtown District (the "Downtown District Plan"); WHEREAS, following said public hearing, the City Council adopted its Ordinance No. 02-987 on December 3, 2002, approving the Downtown District Plan and making certain findings; RESOLUTION NO. 20- eJ - WHEREAS, on June 14, 2016, the City Council, after notice duly published, conducted a public hearing on The Ten Mile Road Urban Renewal Plan (the "Ten Mile Plan"). The public hearing was continued to June 21, 2016, for further testimony; WHEREAS, following said public hearing, the City Council adopted its Ordinance No. 16-1695 on June 21, 2016, approving the Ten Mile Plan and making certain findings; WHEREAS, the Downtown District Plan and the Ten Mile Plan and their project areas are referred to as the Existing Project Areas; WHEREAS, pursuant to Idaho Code § 50-2008, an urban renewal project may not be planned or initiated unless the local governing body has, by resolution, determined such area to be a deteriorated area or deteriorating area, or combination thereof, and designated such area as appropriate for an urban renewal project; WHEREAS, Idaho Code § 50-2906, also requires that in order to adopt an urban renewal plan containing a revenue allocation financing provision, the local governing body must make a finding or determination that the area included in such plan is a deteriorated area or deteriorating area; WHEREAS, based on inquiries and information presented by certain interested parties and property owners, MDC commenced certain discussions concerning examination of an area as appropriate for an urban renewal project; WHEREAS, in 2019, Kushlan I Associates and SMR Development, LLC commenced an eligibility study and preparation of an eligibility report for an area about 16 acres in size and currently located within the boundaries of the Downtown District Plan, which area is currently the subject of a plan amendment to the Downtown District Plan to de -annex the proposed area. The area is generally east of Main Street, south of Idaho Avenue, west of E. 3rd Street, and north of the Union Pacific Railroad right-of-way. The eligibility study area is commonly referred to as the Union District area; WHEREAS, MDC obtained the Union District Urban Renewal District Eligibility Report, dated February 2020 (the "Report"), which examined the Union District Area for the purpose of determining whether such area was a deteriorating area and/or a deteriorated area as defined by Idaho Code Sections 50-2018(9) and 50-2903(8); WHEREAS, pursuant to Idaho Code §§ 50-2018(9) and 50-2903(8), which define a deteriorating area and a deteriorated area, many of the conditions necessary to be present in such an area are found in the Union District Area; WHEREAS, the effects of the listed conditions cited in the Report result in economic underdevelopment of the area, substantially impairs or arrests the sound RESOLUTION NO. 20- . 2 growth of a municipality, constitutes an economic or social liability, and is a menace to the public heath, safety, morals, or welfare in tis present condition or use; WHEREAS, the MDC Board, on February 26, 2020, adopted Resolution No. 20- 003 accepting the Report and authorized the MDC Chair, Vice -Chair or Administrator to transmit the Report to the City Council requesting its consideration for designation of an urban renewal area and requesting the City Council to direct MDC to prepare an urban renewal plan for the Union District Area, which plan may include a revenue allocation area as allowed by the Act; WHEREAS, the City Council, by Resolution No. 20-2188, dated March 10, 2020, declared the Union District Area described in the Report to be a deteriorated area or a deteriorating area as defined by Chapters 20 and 29 of Title 50, Idaho Code, as amended, that such area is appropriate for an urban renewal project and directed MDC to commence preparation of an urban renewal plan for the area designated; WHEREAS, MDC has embarked on an urban renewal project referred to as the Urban Renewal Plan for the Union District Urban Renewal Project ("Union District Plan") to redevelop a portion of the City, pursuant to the Law and the Act, as amended; WHEREAS, the Union District Plan proposes to create an urban renewal area commonly known as the Union District Project Area, which area is shown on the Project Area and Revenue Allocation Boundary Map and generally described in the Description of the Project Area and Revenue Allocation Area, which are attached to the Union District Plan as Attachments 1 and 2 respectively. The Union District Project Area includes area to be deannexed from the Downtown District Plan, to be amended by the First Amendment to the Meridian Revitalization Plan; WHEREAS, in order to implement the provisions of the Act and the Law either MDC may prepare a plan, or any person, public or private, may submit such plan to MDC; WHEREAS, MDC and interested property owners, developers and consultants have prepared the proposed Union District Plan for the area previously designated as eligible for urban renewal planning; WHEREAS, the Act authorizes MDC to adopt revenue allocation financing provisions as part of an urban renewal plan; WHEREAS, the Union District Plan also contains provisions of revenue allocation financing as allowed by the Act; WHEREAS, in order to implement the provisions of the Law and the Act, MDC shall prepare and adopt the Union District Plan and submit the Union District Plan and recommendation for approval thereof to the City; RESOLUTION NO. 20- - 3 WHEREAS, as required by the Law and the Act, MDC has reviewed the information within the Union District Plan concerning the use of revenue allocation funds and approved such information and considered the Union District Plan at its meeting on March 25, 2020; WHEREAS, the MDC Board, at several MDC Board meetings during 2020, has considered public improvements related to the Union District Project Area; WHEREAS, the Union District Plan will be tendered to the Planning and Zoning Commission and to the City for their consideration and review as required by the Law and the Act; WHEREAS, under the Act, the Union District Plan shall include with specificity the following: (1) a statement describing the total assessed valuation of the base assessment roll of the revenue allocation area and the total assessed valuation of all taxable property within the municipality; (2) a statement listing the kind, number, and location of all proposed public works or improvements within the revenue allocation area; (3) an economic feasibility study; (4) a detailed list of estimated project costs; (5) a fiscal impact statement showing the impact of the revenue allocation area, both until and after the bonds are repaid, upon all taxing districts levying taxes upon property in the revenue allocation area; and (6) a description of the methods of financing all estimated project costs and the time when related costs or monetary obligations are to be incurred; (7) a termination date for the plan and the revenue allocation area as provided for in Idaho Code § 50-2903(20); and (8) a description of the disposition or retention of any assets of the agency upon the termination date; WHEREAS, it is necessary and in the best interests of the citizens of the City to recommend approval of the Union District Plan and to adopt, as part of the Union District Plan, revenue allocation financing provisions that will help finance urban renewal projects to be completed in accordance with the Union District Plan in order to (1) encourage private development in the urban renewal area; (2) to prevent and arrest decay of the Union District Project Area due to the inability of existing financing methods to provide needed public improvements; (3) to encourage taxing districts to cooperate in the allocation of future tax revenues arising in the Union District Project Area in order to facilitate the long-term growth of their common tax base; (4) to encourage the long-term growth of their common tax base; (5) to encourage private investment within the City and (6) to further the public purposes of MDC; WHEREAS, the MDC Board finds that the equalized assessed valuation of the taxable property in the revenue allocation area described in Attachments 1 and 2 of the Union District Plan is likely to increase as a result of initiation of urban renewal projects in accordance with the Union District Plan; RESOLUTION NO. 20- -4 WHEREAS, under the Law and Act, any such plan should provide for (1) a feasible method for the location of families who will be displaced from the urban renewal area in decent, safe and sanitary dwelling accommodations within their means and without undue hardship to such families; (2) the urban renewal plan should conform to the general plan of the municipality as a whole; (3) the urban renewal plan should give due consideration to the provision of adequate park and recreational areas and facilities that may be desirable for neighborhood improvement, with special consideration for the health, safety and welfare of the children residing in the general vicinity of the site covered by the plan; and (4) the urban renewal plan should afford maximum opportunity, consistent with the sound needs of the municipality as a whole, for the rehabilitation or redevelopment of the urban renewal area by private enterprise; WHEREAS, if the urban renewal area consists of an area of open land to be acquired by the urban renewal agency, such area shall not be so acquired unless (1) if it is to be developed for residential uses, the local governing body shall determine that a shortage of housing of sound standards and design which is decent, safe and sanitary exists in the municipality; that the need for housing accommodations has been or will be increased as a result of the clearance of slums in other areas; that the conditions of blight in the area and the shortage of decent, safe and sanitary housing cause or contribute to an increase in and spread of disease and crime and constitute a menace to the public health, safety, morals, or welfare; and that the acquisition of the area for residential uses is an integral part of and essential to the program of the municipality, or (2) if it is to be developed for nonresidential uses, the local governing body shall determine that such nonresidential uses are necessary and appropriate to facilitate the proper growth and development of the community in accordance with sound planning standards and local community objectives, which acquisition may require the exercise of governmental action, as provided in this act, because of defective or unusual conditions of title, diversity of ownership, tax delinquency, improper subdivisions, outmoded street patterns, deterioration of site, economic disuse, unsuitable topography or faulty lot layouts, the need for the correlation of the area with other areas of a municipality by streets and modern traffic requirements, or any combination of such factors or other conditions which retard development of the area; WHEREAS, the base assessment roll of the proposed Union District Project Area, together with the base assessment roll values of the Existing Project Areas, cannot exceed ten percent (10%) of the current assessed values of all the taxable property in the City; WHEREAS, the MDC Administrator and consultants recommend the MDC Board accept the Union District Plan and forward it to the City Council; WHEREAS, the MDC Board finds it in the best interests of MDC and the public to formally adopt the Union District Plan, as set forth in Exhibit 1 attached hereto, and to forward it to the Mayor and City Council, and recommend its adoption, subject to certain conditions. RESOLUTION NO. 20- -5 NOW, THEREFORE, BE IT RESOLVED BY THE MEMBERS OF THE BOARD OF COMMISSIONERS OF THE URBAN RENEWAL AGENCY OF MERIDIAN, IDAHO, AS FOLLOWS: Section 1. That the above statements are true and correct. Section 2. It is hereby found and determined that the Union District Project Area as defined in the Union District Plan is a deteriorated area or a deteriorating area as defined in the Law and the Act and qualifies as an eligible urban renewal area under the Law. Section 3. That MDC specifically adopts the Union District Plan along with any changes discussed at the March 25, 2020, MDC Board meeting, including but not limited to confirmation of levy rates, impacted taxing districts, updated list of projects, estimated location or siting of improvements, updated map or legal description, or other attachments, and any modifications to the financial analysis previously prepared by consultants, Kushlan I Associates and SMR Development, LLC. Section 4. That MDC recommends that the Union District Plan, a copy of which is attached hereto as Exhibit 1, and incorporated herein by reference, be adopted by the City Council, including those sections, modifications, or text, or replacement of attachments as discussed at the March 25, 2020, MDC Board meeting. Section 5. That this Resolution constitutes the necessary action of MDC under the Act, Idaho Code § 50-2905, recommending approval by the City Council and that the Union District Plan includes with specificity the following: (1) a statement describing the total assessed valuation of the base assessment roll of the revenue allocation area and the total assessed valuation of all taxable property within the municipality; (2) a statement listing the kind, number, and location of all proposed public works or improvements within the revenue allocation area; (3) an economic feasibility study; (4) a detailed list of estimated project costs; (5) a fiscal impact statement showing the impact of the revenue allocation area, both until and after the bonds are repaid, upon all taxing districts levying taxes upon property in the revenue allocation area; and (6) a description of the methods of financing all estimated project costs and the time when related costs or monetary obligations are to be incurred; (7) a termination date for the plan and the revenue allocation area as provided for in Idaho Code § 50-2903(20); and (8) a description of the disposition or retention of any assets of the agency upon the termination date. Section 6. It is hereby found and determined that: {a} The Union District Plan gives due consideration to the provision of adequate park and recreation areas and facilities that may be desirable for neighborhood improvement (recognizing the RESOLUTION NO. 20- -6 commercial and mixed-use components of the Union District Plan and the need for public improvements), and shows consideration for the health, safety, and welfare of any residents or businesses in the general vicinity of the Union District Project Area covered by the Union District Plan. (b) The Union District Plan affords maximum opportunity consistent with the sound needs of the City as a whole for the rehabilitation, development and redevelopment of the Project Area by private enterprises. (r:; The Union District Plan provides a feasible method for relocation of any displaced families residing within the Union District Project Area. The portion of the Union District Project Area which is identified for residential uses is necessary and appropriate as there is a shortage of housing of sound standards and design which is decent, safe and sanitary in the City; that the need for housing accommodations has been or will be increased as a result of the clearance of slums in other areas; that the conditions of blight in the area and the shortage of decent, safe and sanitary housing cause or contribute to an increase in and spread of disease and crime and constitute a menace to the public health, safety, morals, or welfare; and that the acquisition of the area of residential uses is an integral part of and essential to the program of the City. f e.) The portion of the Union District Project Area which is identified for non-residential uses is necessary and appropriate to facilitate the proper growth and development standards in accordance with the objectives of the Comprehensive Plan to overcome economic disuse, the need for improved traffic patterns and the need for the correlation of this area with other areas of the City. (f) The base assessment roll of the proposed Union District Project Area, together with the base assessment roll values of the Existing Project Areas, do not exceed ten percent (10%) of the current assessed values of all the taxable property in the City. (g) The Union District Plan includes a revenue allocation provision and MDC has determined that the equalized assessed valuation of the revenue allocation area will likely increase as the result of the initiation of an urban renewal project. RESOLUTION NO. 20- Section 7. That this Resolution constitutes the necessary action of MDC under the Law, Section 50-2008, Idaho Code and the Act. Section 8. The Chair, Vice -Chair, or Administrator and the Secretary of MDC are hereby authorized and directed to take all steps necessary and convenient to submit the proposed Union District Plan for approval by the City Council, including but not limited to the preparation of the notice of public hearing on adoption of the revenue allocation financing provisions by the City and submittal of the Union District Plan to the various taxing entities as required by Idaho Code § 50-2906. Section 9. That this Resolution shall be in full force and effect immediately upon its adoption and approval. PASSED AND ADOPTED by the Urban Renewal Agency of the City of Meridian, Idaho, also known as the Meridian Development Corporation, on March 25, 2020. Signed by the Chairman of the Board of Commissioners and attested by the Secretary to the Board of Commissioners, on March 25, 2020. APPROVED: By _ X14 Chair of the Board ATTEST: '� Secret 4832-1165-1255, v. 1 RESOLUTION NO. 20- -8