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First Amended Union District Plan (Annexation) 4835-4848-9712 v.7 FIRST AMENDMENT TO THE URBAN RENEWAL PLAN FOR THE UNION DISTRICT URBAN RENEWAL PROJECT- 1 FIRST AMENDMENT TO THE URBAN RENEWAL PLAN FOR THE UNION DISTRICT URBAN RENEWAL PROJECT MERIDIAN URBAN RENEWAL AGENCY (also known as Meridian Development Corporation) CITY OF MERIDIAN, IDAHO Ordinance No. 20-1882 Adopted June 9, 2020 Effective June 19, 2020, publication First Amendment to the Union District Plan Ordinance No. _____________ Adopted _______________ Effective ________ 2021, publication FIRST AMENDMENT TO THE URBAN RENEWAL PLAN FOR THE UNION DISTRICT URBAN RENEWAL PROJECT- 2 BACKGROUND This First Amendment (“First Amendment”) to the Urban Renewal Plan for the Union District Urban Renewal Project (the “Plan”) amends the Plan for the following purpose: to add approximately 1.46 acres (including rights-of-way) of land contiguous to the northwestern boundary of the Union District Project Area and generally bounded by E. Idaho Avenue on the north, NE 2nd Street on the east, a portion of Broadway Avenue on the south, and E. Main Street on the west, an area referred to as the “Idaho Block.” The scope of this First Amendment is limited to addressing the addition of the Idaho Block to the Union District Project Area. It is important to note this First Amendment to the Plan does not extend the Plan’s duration. The Plan terminates on December 31, 2040; however, revenue allocation proceeds will be received in 2041 pursuant to Idaho Code Section 50-2905(7). This First Amendment to the Plan, seeking to add the Idaho Block to the Union District Project Area pursuant to Idaho Code Section 50-2033, is not deemed to be a modification under Idaho Code Section 50-2903A. “Modification shall not be deemed to have occurred when: . . . (ii) There is a plan amendment to accommodate an increase in the revenue allocation area boundary as permitted in section 50-2033, Idaho Code…” Idaho Code Section 50-2903A(1)(a)(ii). Idaho Code Section 50-2033 permits an urban renewal agency, after July 1, 2011, to add area to an existing revenue allocation area one (1) time “so long as the total area to be added is not greater than ten percent (10%) of the existing revenue allocation area and the area to be added is contiguous to the existing revenue allocation area . . . .” Idaho Code § 50-2033. Contiguity cannot be established solely by a shoestring or public railroad right-of-way. See Idaho Code § 50-2033. The geographic area to be added to the Union District Project Area is contiguous to the existing Union District Project Area and is less than ten percent (10%) of the existing revenue allocation area, which is 15.86 acres. A separate base assessment value will be established for the area to be added to the Union District Project Area, effective retroactive to January 1, 2021. The Agency will receive an allocation of revenues from the added area from any increases in value above the base value through the remaining years of the Plan. The base values for the original Union District Project Area will continue to be retroactive to January 1, 2020. The area to be added to the Union District Project Area was deemed to be a deteriorated area and/or a deteriorating area under the Law and Act and, therefore, eligible for inclusion into the existing revenue allocation area pursuant to the Idaho Block Annexation to Union District (Proposed) Eligibility Report, prepared by Kushlan | Associates, dated June 2021 (the “Eligibility Report”). The Eligibility Report was submitted to the Agency, which by adoption of Resolution No. 21-027 on June 9, 2021, found the additional area to be eligible and authorized the transmission of the Eligibility Report and Resolution to the Meridian City Council, together with the Agency’s recommendation that the area be designated as appropriate for an urban renewal project, and seeking direction from the City Council to proceed with urban renewal plan amendment. The Meridian City Council, by adoption of Resolution No. 21-2274 on July 6, 2021, found the area under consideration to be a deteriorating area or a deteriorated area in the City, as defined by the Law and the Act, and authorized preparation of a plan amendment. FIRST AMENDMENT TO THE URBAN RENEWAL PLAN FOR THE UNION DISTRICT URBAN RENEWAL PROJECT- 3 AMENDMENTS TO THE PLAN 1. Definitions. Capitalized terms not otherwise defined herein shall have the respective meanings ascribed to such terms in the Plan. 2. The following defined terms are amended throughout the Plan as follows: a. Delete “Project Area” and replace with “Amended Project Area” except where specifically referenced in this First Amendment. b. Delete references to “Attachment 1” and replace with “Attachment 1, as supplemented by Attachment 1A” except where specifically referenced in this First Amendment. c. Delete references to “Attachment 2” and replace with “Attachment 2, as supplemented by Attachment 2A” except where specifically referenced in this First Amendment. d. Delete references to “Attachment 4” and replace with “Attachment 4, as supplemented by Attachment 4A” except where specifically referenced in this First Amendment e. Delete references to “Attachment 5” and replace with “Attachment 5, as supplemented by Attachment 5A” except where specifically referenced in this First Amendment. 3. Amendment to List of Attachments. The List of Attachments on page iii of the Plan is amended by deleting the list of attachments and replacing it as follows: Attachment 1 Boundary Map of Union District Urban Renewal Project Area and Revenue Allocation Area Attachment 1A Boundary Map of the Additional Area Attachment 2 Legal Description of Union District Urban Renewal Project Area and Revenue Allocation Area Attachment 2A Legal Description of the Boundary of the Additional Area Attachment 3 Properties Which May be Acquired by the Agency Attachment 4 Map Depicting Expected Land Uses and Current Zoning Map of the Project Area Attachment 4A Map Depicting Expected Land Uses and Current Zoning Within the Area Added by the First Amendment Attachment 5 Economic Feasibility Study Attachment 5A Supplement to the Economic Feasibility Study: Financial Analysis Related to the 2021 Annexation FIRST AMENDMENT TO THE URBAN RENEWAL PLAN FOR THE UNION DISTRICT URBAN RENEWAL PROJECT- 4 4. Amendment to Section 100 of the Plan. Section 100 is amended by deleting the last sentence of the first paragraph and replacing it as follows: Attachments 1 through 5, as supplemented by Attachments 1A, 2A, 4A and 5A, attached hereto (collectively, the “Plan Attachments, as supplemented”) are incorporated herein and shall be considered a part of this Plan. 5. Amendment to Section 102 of the Plan. Section 102 entitled “Procedures Necessary to Meet State and Local Requirements: Conformance with Idaho Code Sections 50-2008 and 50- 2906” is amended by adding new paragraphs to the end of the existing language as follows: Subsequent to the adoption of this Plan in 2020, in 2021, the Agency retained a third-party consultant to review approximately 1.46 acres of land adjacent and contiguous to the Project Area for an eligibility determination for an urban renewal project. The area reviewed included land contiguous to the northwestern boundary of the Union District Project Area and generally bounded by E. Idaho Avenue on the north, NE 2nd Street on the east, a portion of Broadway Avenue on the south, and E. Main Street on the west (the “Idaho Block”). The Idaho Block was reviewed and determined to be a deteriorated area and/or a deteriorating area under the Law and the Act and, therefore, eligible for inclusion into the existing revenue allocation area pursuant to the Idaho Block Annexation to Union District Eligibility Report (proposed), prepared by Kushlan | Associates, dated June 2021 (the “Eligibility Report”). The Eligibility Report was submitted to the Agency, which by adoption of Resolution No. 21-027 on June 9, 2021, found the additional area to be eligible and authorized the transmission of the Eligibility Report and Resolution to the City Council, together with the Agency’s recommendation that the area be designated as appropriate for an urban renewal plan amendment. The City Council by adoption of Resolution No. 21-2274 on July 6, 2021, found the area under consideration to be a deteriorating area or a deteriorated area in the City, as defined by the Law and the Act, and authorized preparation of a plan amendment. The 1.46 acres being added to the Project Area hereby creates the “Amended Project Area” as further described and shown in Attachments 1, 1A, 2, and 2A. This First Amendment to the Plan (the “First Amendment”) adds certain parcels that were deannexed from the Downtown District Plan and Project Area in 2021 pursuant to the Second Amendment to the Meridian Revitalization Plan. This First Amendment was prepared and submitted to the Agency for its review and approval. The Agency approved the First Amendment by the adoption of Resolution No. ___________ on ___________, 2021 and FIRST AMENDMENT TO THE URBAN RENEWAL PLAN FOR THE UNION DISTRICT URBAN RENEWAL PROJECT- 5 submitted the First Amendment to the City Council with its recommendation for adoption. In accordance with the Law, this First Amendment was submitted to the Planning and Zoning Commission of the City. After consideration of the First Amendment, the Commission filed Resolution _____ dated ______, 2021, with the City Council stating that the First Amendment is in conformity with the City’s Comprehensive Plan. Pursuant to the Law and Act, the City Council, having published due notice thereof, held a public hearing on the First Amendment. Notice of the hearing was duly published in the Idaho Press, a newspaper having general circulation in the City. The City Council adopted the First Amendment on ______, 2021, pursuant to Ordinance No. _____. 6. Amendment to Section 103 of the Plan. In Section 103, the term “Project Area” is now replaced with the term “Amended Project Area.” 7. Amendment to Section 103 of the Plan. Section 103 of the Plan is amended by the addition of new Section 103.1 entitled “History and Current Conditions of the Expansion Area” as follows: During 2021, the City, Agency, and other interested parties began to examine the need to expand the Project Area to include additional area adjacent and contiguous to the Project Area that continued to be underdeveloped. The approximately 1.46 acres to be added to the Project Area includes eleven (11) tax parcels with an Old Town (OT) zoning designation and are located within the older developed area within the community. None of the parcels appear to be owner-occupied residences. Only the south half of Idaho Avenue between Main Street and NE 2nd Street is included. The area reviewed exhibited deteriorated conditions due to the age or obsolescence of the structures. The area is transitioning to a modern commercial center and the configuration of small lots does not accommodate modern commercial development rendering redevelopment economically infeasible. Similarly, the eleven (11) parcels range in size with the majority of lots under 5,000 square feet, which is an insufficient size to accommodate economical economic development. Diversity of ownership is also present, which makes land assemblage challenging. These above conditions result in economic underdevelopment of the area and are conditions that substantially impair and arrest the sound growth of the City. The First Amendment embraces the principles set forth in the Plan and proposes improvements to public infrastructure and other publicly owned assets throughout the expansion area, creating the framework for the development of mixed-use, retail, office, commercial, and residential, FIRST AMENDMENT TO THE URBAN RENEWAL PLAN FOR THE UNION DISTRICT URBAN RENEWAL PROJECT- 6 projects, as well as, façade improvements, planning studies and installation and improvements to other public facilities, including, but not limited to, streets, streetscapes, water and sewer improvements, environmental and floodplain remediation/site preparation, public parking, other community facilities, parks, plazas, open space, and pedestrian/bike amenities. The expansion area is underdeveloped and is not being used to its highest and best use due to age and obsolescence, as well as faulty lot layout in relation to size, adequacy, accessibility or usefulness, obsolete platting, and diversity of ownership. The foregoing conditions have resulted in economic underdevelopment of the expansion area and has arrested or impaired growth in the expansion area. The preparation and approval of an urban renewal plan amendment including a revenue allocation financing provision, gives the City additional resources to solve the public infrastructure problems in this area. Revenue allocation financing should help to improve the situation. In effect, property taxes generated by new developments within the Amended Project Area may be used by the Agency to finance a variety of needed public improvements and facilities. Finally, some of the new developments may also generate new jobs in the community that would, in turn, benefit area residents. It is unlikely individual developers will take on the prohibitive costs of constructing the necessary infrastructure in the expansion area without the ability of revenue allocation to help offset at least some of these costs. But for urban renewal and revenue allocation financing, the proposed commercial, office, residential and related public improvements would not occur. 8. Amendment to Section 200 of the Plan. a. Section 200 entitled “DESCRIPTION OF THE PROJECT AREA” is deleted and replaced as follows: DESCRIPTION OF THE AMENDED PROJECT AREA The boundaries of the Project Area and of the Revenue Allocation Area are shown on Attachment 1, Boundary Map of Union District Urban Renewal Project Area and Revenue Allocation Area, and are described in Attachment 2, Legal Description of Union District Urban Renewal Project Area and Revenue Allocation Area. The boundaries of the area added to the Project Area, pursuant to the First Amendment, are shown on Attachment 1A, Boundary Map of the Additional Area, and are described in Attachment 2A, Legal Description of the Boundary of the Additional Area. Collectively, the Project Area, as amended, may be referred to as the “Amended Project Area.” FIRST AMENDMENT TO THE URBAN RENEWAL PLAN FOR THE UNION DISTRICT URBAN RENEWAL PROJECT- 7 For purposes of boundary descriptions and use of proceeds for payment of improvements, the boundary shall be deemed to extend to the outer boundary of rights-of-way or other natural boundary unless otherwise specified. The attachments referenced above are attached hereto and are incorporated herein by reference. 9. Amendment to Section 301 of the Plan. Section 301 is amended as follows: a. Section 301 is amended by deleting subsection (t) and replacing it as follows: t. The construction and financial support of cultural facilities and the enhancement, installation and/or construction of parks, open spaces, plazas, and public recreational facilities; b. Section 301 is amended by adding a new subsection (x) as follows: x. The provision of financial and other assistance to encourage and support the Agency’s façade improvement program c. Section 301 is amended by adding a new subsection (y) as follows: y. The funding in whole, or in part, any planning studies within the Amended Project Area. 10. Amendment to Section 302 of the Plan. Section 302 is amended by deleting the first paragraph and replacing it as follows: Urban renewal activity is necessary in the Amended Project Area to combat problems of physical deterioration or deteriorating conditions. As set forth in greater detail in Sections 103 and 103.1, the Amended Project Area has a history of stagnant growth and development compared to the greater downtown area of the City based on deteriorated or deteriorating conditions that have arrested or impaired growth in the Amended Project Area primarily attributed to: underdeveloped properties; inadequate pedestrian and bicycle connectivity and mobility; the presence of a substantial number of deteriorating structures; deterioration of site; age and obsolescence; a predominance of defective or inadequate street layout; faulty lot layout in relation to size, adequacy, accessibility or usefulness; unsanitary or unsafe conditions; diversity of ownership; and defective or very unusual conditions of title. The Plan for the Amended Project Area is a proposal to work in partnership with public and private entities to improve, develop, and grow the economy within the Amended Project Area by the implementation of a strategy and program set forth in Section 301, as amended. FIRST AMENDMENT TO THE URBAN RENEWAL PLAN FOR THE UNION DISTRICT URBAN RENEWAL PROJECT- 8 11. Amendment to Section 502 of the Plan. a. Section 502 is amended by deleting the first sentence of the first paragraph and replacing it as follows: The Agency hereby adopts revenue allocation financing provisions as authorized by the Act, effective retroactively to January 1, 2020, for the original Project Area and effective retroactively to January 1, 2021, for the area added to the Project Area by the First Amendment. b. Section 502 is amended by deleting the first and second sentences of the fifth paragraph and replacing them as follows: A statement listing proposed public improvements and facilities, an economic feasibility study, estimated project costs, fiscal impact upon other taxing districts, and methods of financing project costs required by Idaho Code Section 50-2905 is included in Attachment 5 for the Project Area, and as supplemented in Attachment 5A for the area added by the First Amendment. The information contained in Attachment 5 incorporated estimates and projections based on the Agency’s and the consultants’ knowledge and expectations at that time. The information contained in Attachment 5A necessarily incorporates estimates and projections based on the Agency’s present knowledge and expectations and includes analysis and assessment based on the additional 1.461 acres added to the Project Area.1 12. Amendment to Section 502.1 of the Plan. Section 502.1 is amended by deleting Section 502.1 and replacing it as follows: Attachment 5 consists of the Economic Feasibility Study for the Union District Urban Renewal Area prepared by Kushlan | Associates and SMR Development, LLC for the original Project Area. Attachment 5A consists of the Economic Feasibility Study for the area added to the Project Area by the First Amendment prepared by Kushlan | Associates. Portions of the data from Attachment 5 are restated in Attachment 5A to the extent additional information was available related to the timing of projects impacting revenue generation and project funding in the expansion area (collectively, Attachments 5 and 5A are referred to as the “Study”). The Study constitutes the financial analysis required by the Act. 13. Amendment to Section 502.3 of the Plan. Section 502.3 of the Plan is amended by the addition of new Section 502.3.1 entitled “Updated Ten Percent Value Limitation and the Ten Percent Geographic Limitation” as follows: Under the Act, the base assessed valuation for all revenue allocation areas cannot exceed gross/net ten percent (10%) of the current assessed taxable value for the entire City. According to the Ada County Assessor, the assessed taxable value for the City as of January 1, 20202 less 1 See also Section 301 to the Plan, as amended. 2 Due to the timing of the assessment process and creation of this Plan, the 2020 values have been used to establish compliance with the 10% limitation. Using the 2020 values, the total adjusted base value of the existing and proposed revenue allocation areas combined with the value of this annexation into the Project Area are less than 2.62% of FIRST AMENDMENT TO THE URBAN RENEWAL PLAN FOR THE UNION DISTRICT URBAN RENEWAL PROJECT- 9 homeowners’ exemption is $10,375,837,804. Therefore, the 10% limit is $1,037,583,780. The adjusted base assessed value of each of the existing revenue allocation areas, plus the expansion area and the proposed revenue allocation areas, as of January 1, 2020, is as follows: Downtown District3 $146,334,050 Ten Mile District $39,539,125 Union District $2,144,360 Proposed Union District Project Area Amendment $3,414,100 Proposed Northern Gateway District $68,832,974 Proposed Linder District4 $11,978,500 TOTAL: $272,243,109 The adjusted base values for the combined revenue allocation areas total $272,243,109, which is less than 10% of the City’s 2020 taxable value. Further, Idaho Code Section 50-2033 provides that after July 1, 2011: “[a]n urban renewal plan that includes a revenue allocation area may be extended only one (1) time to extend the boundary of the revenue allocation area so long as the total are to be added is not greater than ten percent (10%) of the existing revenue allocation area and the area to be added is contiguous to the existing revenue allocation area but such contiguity cannot be established solely by a shoestring or strip of land which comprises a railroad or public right-of-way.” The Project Area consists of approximately 15.86 acres; therefore, the 10% geographic limit is approximately 1.59 acres. The area to be added to the Project Area, which is adjacent and contiguous to the Project Area, consists of approximately 1.461 acres, which is less than 10% of the acreage included in the Project Area. 14. Amendment to Section 502.7 of the Plan. a. Section 502.7 is amended by adding a new sentence at the end of the second sentence of the second paragraph as follows: The addition of the geographic area to the Project Area pursuant to the First Amendment does not reset the base5; however, for the area added, the base value is the assessed value as of January 1 of the year in which the municipality approved the expansion or, in this instance, January 1, 2021. the total taxable value of the City. Even assuming an increase in values for 2022, the combined adjusted base values of the revenue allocation areas would not exceed 10% of the current assessed taxable value for the entire City. 3 Less area deannexed by the First Amendment to the Meridian Revitalization Plan Urban Renewal Project, and the Second Amendment to the Meridian Revitalization Plan Urban Renewal Project. 4 May not be established until calendar year 2022. 5 See Idaho Code Sections 50-2903A(1)(a)(ii) and 50-2033. FIRST AMENDMENT TO THE URBAN RENEWAL PLAN FOR THE UNION DISTRICT URBAN RENEWAL PROJECT- 10 b. Section 502.7 is amended by adding a new footnote following the fourth sentence of the second paragraph as follows: House Bill 389 passed during the 2021 Legislative Session, effective in significant part as of January 1, 2021, further limits a taxing entity’s abil ity to increase the property tax portion of its budget. The Supplement to the Economic Feasibility Study: Financial Analysis Related to the 2021 Annexation, included as Attachment 5A, has considered the impact of House Bill 389 on the Project’s overall feasibility. c. Section 502.7 is amended by adding a new footnote following the first sentence of the fifth paragraph as follows: House Bill 389 amended Idaho Code Sections 63-802 and 63-301A limiting the value placed on the new construction roll and available to a taxing district for a budget capacity increase. This could result in lower levy rates over time. d. Section 502.7 is amended by deleting the last sentence of the fifth paragraph and replacing it as follows: Upon termination of this Plan, as amended by the First Amendment, and the Amended Project Area, the taxing entities will be able to include a percentage6 of the accumulated new construction roll value in setting the following year’s budget (subject to any applicable cap) pursuant to Idaho Code Sections 63-802 and 63-301A. e. Section 502.7 is amended by adding new paragraphs following the end of the seventh paragraph as follows: Pursuant to the First Amendment and Attachment 5A concerning the expansion, as 2021 certified levy rates are not determined until late September 2021, the 2020 certified levy rates have been used in Attachment 5A for purposes of the analysis.7 Those taxing districts and rates are as follows: Taxing Districts: Levy Rates: The City of Meridian .002230856 The West Ada School District (School District No. 2) .000014472 Ada County .002149935 Emergency Medical District/Ada County Ambulance .000118422 Mosquito Abatement District .000021106 The Ada County Highway District .000701539 Meridian Library District .000430489 Meridian Cemetery District .000048343 Western Ada Recreation District .000037736 College of Western Idaho .000124266 TOTAL8 .005877164 6 Pursuant to House Bill 389, 80% of the total eligible increment value is added to the new construction roll. 7 Due to the timing of the taxing districts’ budget and levy setting process, certification of the 20 21 levy rates did not occur until this First Amendment had been prepared and considered by the Agency. In order to provide a basis to analyze the impact on the taxing entities, the 2020 levy rates are used. Use of the 2020 levy rates provides a more accurate base than estimating the 2021 levy rates. 8 Net of voter approved bonds and levies. FIRST AMENDMENT TO THE URBAN RENEWAL PLAN FOR THE UNION DISTRICT URBAN RENEWAL PROJECT- 11 House Bill 587, as amended in the Senate, effective July 1, 2020, amends Idaho Code Section 50-2908 altering the allocation of revenue allocation funds to the Agency from the Ada County Highway District levy9. This amendment will apply to the expansion area10 added by this First Amendment and provides: “[i]n the case of a revenue allocation area first formed or expanded to include the property on or after July 1, 2020, all taxes levied by any highway district, unless the local governing body that created the revenue allocation area has responsibility for the maintenance of roads or highways” will be allocated to the applicable highway district, which in this case is the Ada County Highway District. However, amended Idaho Code Section 50-2908 further provides the highway district and Agency may enter into an agreement for a different allocation. A copy of any agreement is required to be submitted to the Idaho State Tax Commission and to the Ada County Clerk by the Ada County Highway District as soon as practicable after the parties have entered into the agreement and by no later than September 1 of the year in which the agreement takes effect. The Agency intends to work with the Ada County Highway District to enter into an agreement allowing the Agency to retain the revenues from the highway district levies for the expansion area. No agreement is required for the original Project Area. The Study has made certain assumptions concerning the levy rate. The levy rate is estimated to be 10% lower than the combined 2020 certified levy rate to adjust for the impact of House Bill 389, as well as considering the rapidly increasing property values. The levy rate is anticipated to remain level for the life of the Project Area. As the actual impact of the property value fluctuations on the levy rate is unknown, the Study has assumed a combined conservative levy rate of .0053. Land values are estimated to inflate at 8%/year for five (5) years and then inflate at a rate of 4%/year for the remaining duration of the Project Area. Improvement values are estimated to inflate at a rate of 10%/year for five (5) years, and thereafter are estimated to inflate at a rate of 5%/year for the duration of the Project Area. Estimated new development is anticipated occur annually and be fully on the tax rolls from year 2025 through 2029. If the overall levy rate is less than projected, or if expected development fails to occur as estimated, the Agency shall receive fewer funds from revenue allocation. The Study has also considered the timing of the original projects identified in the Plan and pushed back the completion timeline where necessary to account for current market conditions. 9 Senate Bill 1107, as amended in the Senate, effective July 1, 2021, made a corresponding amendment to Idaho Code Section 40-1415(3) to address the responsibility for funding certain urban renewal projects. 10 The amendment to Idaho Code Section 50-2908 does not apply to the original Project Area. FIRST AMENDMENT TO THE URBAN RENEWAL PLAN FOR THE UNION DISTRICT URBAN RENEWAL PROJECT- 12 15. Amendment to Section 800 of the Plan. Section 800 is amended by adding a new sentence at the end of the first paragraph as follows: The addition of parcels to the original Project Area pursuant to this First Amendment has no impact on the duration of this Plan. 16. Amendment to Plan to add new Attachment 1A. The Plan is amended to add new Attachment 1A entitled “Boundary Map of the Additional Area,” attached hereto. 17. Amendment to Plan to add new Attachment 2A. The Plan is amended to add new Attachment 2A entitled “Legal Description of the Boundary of the Additional Area,” attached hereto. 18. Amendment to Plan to add new Attachment 4A. The Plan is amended to add new Attachment 4A entitled “Map Depicting Expected Land Uses and Current Zoning Within the Areas Added by the First Amendment,” attached hereto. 19. Amendment to Plan to add new Attachment 5A. The Plan is amended to add new Attachment 5A entitled “Supplement to the Economic Feasibility Study: Financial Analysis Related to the 2021 Annexation,” attached hereto. 20. Union District Plan Remains in Effect. Except as expressly modified in this First Amendment, the Plan and the Attachments thereto remain in full force and effect. Attachment 1A Boundary Map of the Additional Area EXHIBIT B SKETCH TO ACCOMPANY URBAN RENEWAL DISTRICT DESCRIPTION FOR MERIDIAN DEVELOPMENT CORPORATION LOCATED IN THE NW 1/4 OF THE SW 1/4 OF SECTION 7, TOWNSHIP J NORTH, RANGE 1 EAST, BOISE MERIDIAN, ADA COUNTY, IDAHO E IDAHO AVENUE BASIS OF BEARING S 88-4/59" E 580.05' POINT OF BEGINNING Q- v§ 40.00'18'43 ‘59" E 300.04'40.00 '$\o' X No SoN §•. 'OoUj\Cjo3 \-Q o oo51O' X (o ^1-S'fc ►n O'fc'O ^ aS\ft\\5 -.‘o Si$N 88'4359" W 2W.08 ‘.ALL o5 9011g360.02'30.01 ’9 120.05 ’\\N tNO g ^au>N 9 ^1^O o99a9 \rv\ O' 5 "N 9 940'X\\ /O.Q2‘/\40.0/s\20.0l ‘ N 88‘44'00" W 90.05' 40 \ § 'h S 88'44 ’00" E 380.18'6- E BROADWAY AVENUE LEGEND URD BOUNDARY \c-' URD AREA '18780 p tEsj of '?yS CIVIL SURVEY CONSULTANTS, INC. 2893 SOUTH MERIDIAN ROAD MERIDIAN, IDAHO 83642 (208)888-4312 4. K00 SCALE: / ”=60 ’ Attachment 2A Legal Description of the Boundary of the Additional Area EXHIBIT A URBAN RENEWAL DISTRICT BOUNDARY DESCRIPTION FOR MERIDIAN DEVELOPMENT CORPORATION IDAHO BLOCK A description for Urban Renewal District purposes located in the NW 1/4 of the SW 1/4 of Section 7, Township 3 North, Range 1 East, Boise Meridian, and being a part of Block 4 of the amended plat of the TOWNSITE OF MERIDIAN as found in Book 1 of plats at Page 30 in the office of the Recorder, Ada County, Idaho, more particularly described as follows: Commencing at a 5/8 inch diameter iron pin marking the intersection of N Main Street and E Idaho Avenue, from which a brass cap monument marking the intersection of NE 2nd Street and E Idaho Avenue bears S 88°43'59" E a distance of 380.05 feet; Thence S 88°43'59" E along the centerline of said E Idaho Avenue a distance of 40.00 feet to the POINT OF BEGINNING; Thence continuing S 88°43'59" E a distance of 300.04 feet to a point on an extension of the easterly boundary of said Block 4; Thence leaving said centerline S 0°31'47" W a distance of 40.00 feet to a point marking the northeasterly corner of said Block 4; Thence continuing S 0°31'47" W along said easterly boundary a distance of 256.13 feet to a point marking the southeasterly corner of said Block 4; Thence N 88°44'00" W along the southerly boundary of said Block 4 a distance of 90.05 feet to a point marking the southwesterly corner of Lot 8 of said Block 4; Thence leaving said southerly boundary N 0°32'12" E along the westerly boundary of said Lot 8 a distance of 120.07 feet to a point marking the northwesterly corner of said Lot 8; Thence N 88°43'59" W along the northerly boundary of Lots 1 - 7 of said Block 4 a distance of 210.08 feet to a point on the westerly boundary of said Block 4, said point being the northwesterly corner of Lot 1 of said Block 4; Thence N 0°33'09" E along said westerly boundary a distance of 136.07 feet to a point marking the northwesterly corner of said Block 4; Page 1 of 2 Thence continuing N 0°33'09" E on an extension of said westerly boundary a distance of 40.00 feet to the POINT OF BEGINNING. This parcel contains approximately 1.461 acres. NOTE: This description was prepared using record information including Record of Surveys, Subdivision Plats and Deeds acquired from the Ada County Recorder's office. No field survey has been performed. Prepared by: Kyle A. Koomler, PLS Civil Survey Consultants, Incorporated May 26, 2021 £1878 otc 33 Page 2 of 2 Attachment 4A Map Depicting Expected Land Uses and Current Zoning Within the Areas Added by the First Amendment were | Civic Old Town —E-PINE-AVE i ) [[ Ee T = ss oo = NE 4TH ST INN INIEINININ] BYE IDAHO AVE [a] HIN oz Z —_ 3 j ] 2 = g 5 E BROADWAY AVE = ] IN (Cts DE — — Ld << EE 2 SI Legend Cl —.- Annexation Area N — ——8—s—5—3 35 3 a oo SEES a 1] Union District E "| Parcels 7 2 = 2 —— Railroad Z wl 0 200 400 Zz ON | 1 Feet N MAIN STN MERIDIAN RDE P IN E A V E NE2NDSTNE 4TH STNE 3RD STNE 2ND STNMERIDI ANRDE IDAHO AVE E BROADWAY AVE Civic Old Town OldTow n Civic ³ Future L and Use sE E E Civic Old Tow n 0 400200Feet Legend Annexa tio n Area Union District Parcels Ra ilroad [a] oz Z < a = LL = Z NE 4TH ST [FIEEE=E EIDAHO AVE 3RD ST E BROADWAY/AVE 1] = = Legend 1 . —.- Annexation Area [J union District || Parcels —— Railroad 0 200 R-15 I-L I-L R-8 R-8 O-T N MAIN STN MERIDIAN RDE P IN E A V E NE2NDSTNE 4TH STNE 3RD STNE 2ND STNMERIDI ANRDE IDAHO AVE E BROADWAY AVE ³ Zoning I-L O-T R-8 R-15 0 400200Feet Legend Annexa tio n Area Union District Parcels Ra ilroad Attachment 5A Supplement to the Economic Feasibility Study: Financial Analysis Related to the 2021 Annexation 4835-4848-9712, v. 7 ATTACHMENT 5.1A Public Improvements within the Revenue Allocation Area This attachment includes a projected list of proposed public works or improvements within the Union District Project Area, as amended by the First Amendment to the Urban Renewal Plan for the Union District Urban Renewal Project (the “First Amendment”), which added approximately 1.46 acres to the Union District Project Area pursuant to Idaho Code Sections 50-2903A(1)(a)(ii) and 50-2033 (the “Amended Project Area”). This Attachment 5A, the Supplement to the Economic Feasibility Study: Financial Analysis Related to the 2021 Annexation, is intended to address the scope of projects related to the expansion area; however, portions of the Economic Feasibility Study may be restated if additional information is available related to the timing of projects impacting revenue generation and project funding in the expansion area. The proposed improvements within the Amended Project Area include improvements to streets, utilities, and other public rights-of-way amenities as well as construction and/or improvements to parks, plazas and open space, a community center, façade improvements, public parking (structured and surface parking), property acquisition to support development and/or redevelopment goals, and brownfield and/or environmental clean-up. The Union District Improvement List set forth below identifies needed investments to support private investment in capital facilities. Capital facilities generally have long useful lives and significant costs. The overall project and the infrastructure to support it are all consistent with the vision articulated in the City of Meridian Comprehensive Plan, Destination: Downtown Plan, the future land use map and as required in City development regulations. The cost estimates provided by owner/developers and the City are based upon prices for similar construction in the area. Estimated costs expected to be incurred in implementing the Urban Renewal Plan for the Union District Urban Renewal Project (the “Plan”) as amended by the First Amendment are as follows: Union District Improvement List Community Center Construction $6,450,000 Net District Cost Construction $6,450,000 Community Center Site Improvements $1,615,000 Structured Public Parking $4,250,000 Sub-Total $5,865,000 Total Community Center Cost $12,315,000 Proposed Public Infrastructure, including Engineering, Design, Installation, Construction, and/or Reconstruction of: Improvements to 3rd Street Improvements to Broadway Avenue Intersection Improvements and Rail Crossing Safety Enhancements Pedestrian improvements Streetscape Improvements Sewer Infrastructure Improvements Water Infrastructure Improvements Electrical Distribution Improvements Right-of-Way Landscaping Improvements Utility Relocations Lateral Relocation and Improvements Irrigation and Drainage Improvements Public Improvements Sub-total $1,215,000 Additional Public Parking $3,810,000 Other Eligible Public Infrastructure Improvements Façade Improvements $750,000 Property Acquisition $3,500,000 Public Plazas, Parks & Open Space $3,000,000 Environmental Remediation $2,250,000 Idaho Avenue Improvements $1,000,000 Planning Studies $259,000 Grand Total $28,099,000 The projects and estimated costs have been derived from Galena Opportunity Fund and updated by the City and the Meridian Development Corporation (MDC) based upon similar works being carried out in the broader community and existing market conditions. The costs related to the expansion area improvements are estimated in 2021 dollars and are not inflated. Costs will likely vary from the costs detailed here, as they will be subject to inflation and further project refinement and timing. The cost estimates used in this analysis are considered estimates for the purpose of financial planning. The Amended Project Area is estimated to generate $25,389,904 in tax increment revenue between 2020 and 20401 in addition to the initial $100,000 loan from the MDC to activate the program. Additional potential sources of funding for the identified projects may include funding in the amount of $3,800,000 from the City to support the Community Center project recognizing the City is not committing funds to this Project and any commitment 1 As the Idaho property tax system provides for taxes being paid in arears, Revenue Allocation funds will be received in FY 2041. However, the final year of income has not been considered in determining the economic feasibility of the Union District, as amended. would occur through the City’s appropriations/budget process. Further funding may be available through grants. The total from all sources is estimated to be $29,289,904. There are presently $28,099,000 of project costs identified in the Union District Improvement List provided by developers, property owners and the City. The fiscal analysis generally assumes projects will be implemented by developers as part of certain private developments within the Union District Project Area, as amended, specifically related to the Meridian Station Project and the Civic Block Project as contemplated in the original Plan, and the Idaho Block project in the expansion area. It is assumed that the developers will be reimbursed through Owner Participation Agreements (OPA) from resources derived from the Amended Revenue Allocation Area established by the Union District Project Area, as amended by the First Amendment. Projects are also anticipated to occur on a pay-as-you-go basis, in addition to funding from other public entities, if available, and any available grant funding. Administrative costs over the 20-year life of the district are estimated at $920,000 or approximately 3.16% of total estimated revenue. The initial inter-district loan to support startup costs is assumed to be repaid at 5% simple interest for a total obligation of $115,0002. The total estimated expenditures equal $29,134,000, leaving a $155,903 positive program balance of at the end of the 20-year term. See attached cash flow analysis for detailed estimates. The Plan, as amended by the First Amendment, provides for the Plan and Amended Project Area to extend through its maximum term of 20 years. This First Amendment will constitute the one-time annexation to the Union District Project Area as permitted in Idaho Code 50-2033. Secure funding includes revenue allocation funds and is money MDC is highly likely to receive. The funds may not be in MDC’s possession at the beginning of the Plan period, but it is virtually certain that MDC will receive the funds. MDC may need to take specific actions to generate the funding, but those actions are within its powers. Despite the high probability of secure funding, no project can proceed until a specific, enforceable funding plan is in place. Potential funding is money that might be received by MDC. In every case MDC is eligible for the funding, and the source of funding exists under current law. However, each potential funding source requires one or more additional steps or decisions before MDC can obtain the resources, and the ultimate decision is outside of MDC’s independent control. The City’s potential capital contribution and grant funds are an example of potential funding. Thus, potential funding is not assumed in determining financial feasibility. 2 The amount of revenue allocation proceeds dedicated to the administration of the Union District, as amended [$802,183 shown in Forecast] is supplemented by the Inter-district loan to produce the full amount over the life of the District. Unfunded projects, or portions of projects lack secure or potential funding. At this time, all projects are anticipated to be funded. The amount of tax increment contributed to the project will vary depending upon the actual cost of infrastructure. The Plan, as amended by the First Amendment, proposes certain public improvements that will facilitate development in the Amended Project Area. The overall investment package could be funded from a variety of financing methods and sources. The primary method of financing MDC’s obligation will be through the use of tax increment revenue (i.e., incremental property taxes from the revenue allocation area). This Plan, as amended by the First Amendment, anticipates that at least a portion of the tax increment revenue will be used to reimburse an owner/developer through a negotiated agreement for some or all of the eligible improvement costs or through direct investment by MDC. Other sources of funding for project may include, but are not limited to: • Local Improvement District (LID) • Business Improvement District (BID) • Development Impact Fees • Franchise Fees • Grants from federal, state, local, regional agencies and/or private entities • Other bonds, notes and/or loans • Improvements and/or payments by developers The total project costs and the amount of tax increment are estimates. The estimated project costs and revenues are based on MDC’s present knowledge and expectations supported by detailed information from property owners, developers, City and MDC staff and MDC’s consultants based in part upon current construction projects in the broader community. Summary of Projects Based on the Union District Improvement List, as amended by the First Amendment, set forth above, the estimated total costs for the public improvements are $28,099,000. Cost of Operations and Improvements by Year (2020-2041) Year Secure Funding (TIF & MDC Loan) Potential Funding District Operating Expenses MDC Loan Debt Service Funds for Program, Capital, and Debt Service Expenses Total Project Liabilities 2020 $75,000 $0 $25,000 $0 $25,000 2021 $25,000 $0 $25,000 $0 $25,000 2022 $3,430 $0 $25,000 $0 $25,000 2023 $7,167 $0 $25,000 $0 $0 $25,000 2024 $11,237 $0 $20,000 $0 $0 $20.000 2025 $390,630 *$3,800,000 $50,000 $0 $4,100,000 $4,150,000 2026 $676,794 $0 $50,000 $115,000 $475,000 $640,000 2027 $1,003,700 $0 $50,000 $0 $900,000 $950,000 2028 $1,187,991 $0 $50,000 $0 $1,100,000 $1,150,000 2029 $1,381,483 $0 $50,000 $0 $1,350,000 $1,400,000 2030 $1,452,136 $0 $50,000 $0 $1,400,000 $1,450,000 2031 $1,526,307 $0 $50,000 $0 $1,500,000 $1 ,550,000 2032 $1,604,171 $0 $50,000 $0 $1,550,000 $1,600,000 2033 $1,685,912 $0 $50,000 $0 $1,550,000 $1,600 ,000 2034 $1,771,724 $0 $50,000 $0 $1,800,000 $1,850,000 2035 $1,861,809 $0 $50,000 $0 $1,800,000 $1,850.000 2036 $1,956,381 $0 $50,000 $0 $1,900,000 $1,950,000 2037 $2,055,662 $0 $50,000 $0 $2,000,000 $2,050 ,000 2038 $2,159,889 $0 $50,000 $0 $2,100,000 $2,150 ,000 2039 $2,269,306 $0 $50,000 $0 $2,250,000 $2,300,000 2040 $2,384,174 $0 $50,000 $0 $2,324,000 $2,374 ,000 2041 $0 $0 $0 $0 $0 Total $25,489 903 $3,800,000 $920,000 $115,000 $28,099,000 $29,134,000 Note: This analysis anticipates a positive fund balance of $155,903 the end of the project. *Potential City contribution to the Community Center Project. Not a binding commitment. Any City funding would be subject to annual appropriations/budgeting considerations. ATTACHMENT 5.2A Economic Feasibility Study The Plan, as amended by the First Amendment, is economically feasible because the proposed development is sufficient to fully cover the anticipated cost of the redevelopment program. The economic feasibility of the Plan, as amended by the First Amendment, is based on the following factors: • The amount of development anticipated in the Amended Project Area • The timing of the proposed taxable development • The nature of the proposed development • The amount of tax revenue to be generated by the proposed development • The cost of public improvement projects. • If revenue equals or exceeds project costs, the Plan is economically feasible. The following is a summary of the analysis and estimates of the factors used to determine the economic feasibility of the Plan, as amended by the First Amendment. The Economic Feasibility Analysis Summary: Over the course of the Plan and the Union District Project Area, as amended by the First Amendment, $25,389,904 of Tax Increment Revenue is estimated to be generated using the development scenarios proposed by property owners/developers within the Union District Project Area, as amended by the First Amendment, the City and MDC, in consultation with its consultants. The Economic Feasibility Study assumes 10% of annual revenue allocation area proceeds, or TIF revenue, will be used for administration of the Union District Project Area, as amended by the First Amendment, with that amount capped at $50,000 per year, for a total of $920,000 for administration costs over the 20-year lifespan of the District. The attached spreadsheets entitled “Union District Revenue Model, as amended by the First Amendment” and “Union District, as amended by the First Amendment, Cash Flow Analysis” gives a more detailed outlook on the revenues and expenses of the development scenario. The following assumptions were made in the formulation of the Financial Feasibility Analysis: o Land Value Increase @ 8%/Year for 5 years then 4%/year through the remainder of the term o Improvement Value Increase @ 10%/Year then 5%/year through the remainder of the term, o Tax Rate reduced by 10% and then held constant through the life of the Plan o Total Cost of Improvements over the life of the project: $28,099,000 o Tax rate does not include levies excluded pursuant to Idaho Code 50-2908, such as voter approved bonds/levies after 2007, judgment levies or the School District Plant or supplemental levies excluded by law. The Economic Feasibility Analysis shows that the project will generate adequate funds within the Amended Project Area to fund the necessary capital improvements. 4831-7174-6294, v. 6 Year Land Value (+8% annually for 5 years then 4%) Impr. Value (+10% for 5 years then 5%) Total Assessed Value Annual New Const. Value on tax roll Cum. New Const Value + Inflation @ 10% and 5% Cumulative Homeowners' Exemption Taxable Value Increment Value (H - Base Value) Levy Rate (-10%) Tax Increment Yield Admin Costs (10%) Funding for Capital Projects / Debt Service 2020 4,033,200$ -$ 4,033,200$ -$ -$ -$ 4,033,200$ -$ 0.0053 2021 4,355,856$ 2,987,700$ 7,343,556$ -$ -$ -$ 7,343,556$ -$ 0.0053 -$ -$ -$ 2022 4,704,324$ 3,286,470$ 7,990,794$ -$ -$ -$ 7,990,794$ 647,238$ 0.0053 3,430$ 343$ 3,087$ 2023 5,080,670$ 3,615,117$ 8,695,787$ -$ -$ -$ 8,695,787$ 1,352,231$ 0.0053 7,167$ 717$ 6,450$ 2024 5,487,124$ 3,976,629$ 9,463,753$ -$ -$ -$ 9,463,753$ 2,120,197$ 0.0053 11,237$ 1,124$ 10,113$ 2025 5,926,094$ 4,374,292$ 10,300,386$ 70,747,000$ 70,747,000$ -$ 81,047,386$ 73,703,830$ 0.0053 390,630$ 50,000$ 340,630$ 2026 6,163,138$ 4,593,006$ 10,756,144$ 50,000,000$ 124,284,350$ -$ 135,040,494$ 127,696,938$ 0.0053 676,794$ 50,000$ 626,794$ 2027 6,409,663$ 4,822,656$ 11,232,320$ 54,990,000$ 185,488,568$ -$ 196,720,887$ 189,377,331$ 0.0053 1,003,700$ 50,000$ 953,700$ 2028 6,666,050$ 5,063,789$ 11,729,839$ 25,000,000$ 219,762,996$ -$ 231,492,835$ 224,149,279$ 0.0053 1,187,991$ 50,000$ 1,137,991$ 2029 6,932,692$ 5,316,979$ 12,249,671$ 25,000,000$ 255,751,146$ -$ 268,000,816$ 260,657,260$ 0.0053 1,381,483$ 50,000$ 1,331,483$ 2030 7,209,999$ 5,582,828$ 12,792,827$ -$ 268,538,703$ -$ 281,331,530$ 273,987,974$ 0.0053 1,452,136$ 50,000$ 1,402,136$ 2031 7,498,399$ 5,861,969$ 13,360,369$ -$ 281,965,638$ -$ 295,326,007$ 287,982,451$ 0.0053 1,526,307$ 50,000$ 1,476,307$ 2032 7,798,335$ 6,155,068$ 13,953,403$ -$ 296,063,920$ -$ 310,017,323$ 302,673,767$ 0.0053 1,604,171$ 50,000$ 1,554,171$ 2033 8,110,269$ 6,462,821$ 14,573,090$ -$ 310,867,116$ -$ 325,440,206$ 318,096,650$ 0.0053 1,685,912$ 50,000$ 1,635,912$ 2034 8,434,680$ 6,785,962$ 15,220,642$ -$ 326,410,472$ -$ 341,631,113$ 334,287,557$ 0.0053 1,771,724$ 50,000$ 1,721,724$ 2035 8,772,067$ 7,125,260$ 15,897,327$ -$ 342,730,995$ -$ 358,628,322$ 351,284,766$ 0.0053 1,861,809$ 50,000$ 1,811,809$ 2036 9,122,949$ 7,481,523$ 16,604,472$ -$ 359,867,545$ -$ 376,472,018$ 369,128,462$ 0.0053 1,956,381$ 50,000$ 1,906,381$ 2037 9,487,867$ 7,855,599$ 17,343,467$ -$ 377,860,922$ -$ 395,204,389$ 387,860,833$ 0.0053 2,055,662$ 50,000$ 2,005,662$ 2038 9,867,382$ 8,248,379$ 18,115,761$ -$ 396,753,969$ -$ 414,869,730$ 407,526,174$ 0.0053 2,159,889$ 50,000$ 2,109,889$ 2039 10,262,077$ 8,660,798$ 18,922,876$ -$ 416,591,667$ -$ 435,514,542$ 428,170,986$ 0.0053 2,269,306$ 50,000$ 2,219,306$ 2040 10,672,561$ 9,093,838$ 19,766,399$ -$ 437,421,250$ -$ 457,187,649$ 449,844,093$ 0.0053 2,384,174$ 50,000$ 2,334,174$ 225,737,000$ 25,389,904$ 802,183$ 24,587,721$ New construction values based upon developer's estimates Residential units will all be market rate rental units Balance of Revenue Allocation Yield will be available for capital investment and/or program expenses Idaho Block Annexed to original Union District in 2021 Earliest C.O for private development projects will be in 2024 Residential units will not be owner occupied and thus not subject to the Homeowners Property Tax Exemption 10% of annual Revenue Allocation yield will be paid to Meridian Development Corporation for administration - Capped at $50,000/year City of Meridian, subject to available funds pursuant to annual appropriations and budgeting, may provide $3,800,000 in 2025 to support development of a Community Center within the District. This does not represent a commitment by the City; rather is included to assess potentially available funds to support projects. Tax Rate reduced by 10% in consideration of impacts of HB389; anticipation of potential further modifications to the property tax system; and the further termination of the Downtown Revitalization District Assumptions: Values based on Ada County Assessor 2019 Data for original District properties (latest available) then 2020 values for Idaho Block expansion area Land values inflate at 8% per year for 5 years, then 4% for the remainder of the Plan term Improvement values inflate at 10% per year for 5 years then 5% for the remainder of the term Union District, as amended by the First Amendment, Cash Flow Analysis 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 Beginning Balance -$ 50,000$ 50,000$ 28,430$ 10,597$ 1,834$ 42,464$ 79,258$ 132,958$ 170,949$ 152,432$ Source of Funds Total Revenue Allocation -$ -$ 3,430$ 7,167$ 11,237$ 390,630$ 676,794$ 1,003,700$ 1,187,991$ 1,381,483$ 1,452,136$ MDC Inter-District Loan *75,000$ 25,000$ -$ -$ -$ -$ -$ -$ -$ -$ -$ City Community Center Contribution 3,800,000$ Total annual Funds Available 75,000$ 75,000$ 53,430$ 35,597$ 21,834$ 4,192,464$ 719,258$ 1,082,958$ 1,320,949$ 1,552,432$ 1,604,568$ Use of Funds District Operating Expenses 25,000$ 25,000$ 25,000$ 25,000$ 20,000$ 50,000$ 50,000$ 50,000$ 50,000$ 50,000$ 50,000$ Repay Inter-District Loan @ 5%-$ -$ -$ -$ -$ -$ 115,000$ -$ -$ -$ -$ Program, Capital and Debt Service Expenses -$ -$ -$ -$ 4,100,000$ 475,000$ 900,000$ 1,100,000$ 1,350,000$ 1,400,000$ Total Use of Funds 25,000$ 25,000$ 25,000$ 25,000$ 20,000$ 4,150,000$ 640,000$ 950,000$ 1,150,000$ 1,400,000$ 1,450,000$ Ending Balance 50,000$ 50,000$ 28,430$ 10,597$ 1,834$ 42,464$ 79,258$ 132,958$ 170,949$ 152,432$ 154,568$ 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 Total Beginning Balance 154,568$ 130,875$ 135,046$ 220,958$ 142,682$ 154,491$ 160,872$ 166,534$ 176,423$ 145,729$ Source of Funds Total Revenue Allocation 1,526,307$ 1,604,171$ 1,685,912$ 1,771,724$ 1,861,809$ 1,956,381$ 2,055,662$ 2,159,889$ 2,269,306$ 2,384,174$ 25,389,903$ MDC Inter-District Loan -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 100,000$ City Community Center Contribution 3,800,000$ Total Funds Available 1,680,875$ 1,735,046$ 1,820,958$ 1,992,682$ 2,004,491$ 2,110,872$ 2,216,534$ 2,326,423$ 2,445,729$ 2,529,903$ 29,289,903$ Use of Funds District Operating Expenses 50,000$ 50,000$ 50,000$ 50,000$ 50,000$ 50,000$ 50,000$ 50,000$ 50,000$ 50,000$ 920,000$ Repay Inter-district Loan @ 5%-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 115,000$ Program, Capital and Debt Service Expenses 1,500,000$ 1,550,000$ 1,550,000$ 1,800,000$ 1,800,000$ 1,900,000$ 2,000,000$ 2,100,000$ 2,250,000$ 2,324,000$ 28,099,000$ Total Use of Funds 1,550,000$ 1,600,000$ 1,600,000$ 1,850,000$ 1,850,000$ 1,950,000$ 2,050,000$ 2,150,000$ 2,300,000$ 2,374,000$ 29,134,000$ Ending Balance 130,875$ 135,046$ 220,958$ 142,682$ 154,491$ 160,872$ 166,534$ 176,423$ 145,729$ 155,903$ Union District, as amended by the First Amendment, Cash Flow Analysis Assumptions * Includes $3,800,000 City of Meridian contribution to Community Center; not a binding commitment Land Values will increase at an average of 8% annually for 5 years then at 4% over the remaining life of the District Improvement Values will increase at an average of 10% annually for 5 years then at 5% over the remaining life of the District $28,124,000 available for District Program Expenses, Capital Investment and Debt Service * Initial District Start-up costs supported by MDC Inter-district Loan of $100,000 to be repaid at 5% Interest 10% of annual TIF yield dedicated to Meridian Development Corporation for District operating Expenses, capped at $50,000, Yr. URBAN RENEWAL DISTRICT ORDINANCE - 20-18 82 municipality as a whole, except as provided in § 50 -2008 (g), Idaho Code; and (b) shall be sufficiently complete to indicate such land acquisition, demolition and removal of structures, redevelopment, improvements, and rehabilitation as may be proposed to be carried out in the urban renewal area, zoning and planning changes, if any, land uses, maximum densities, building requirements, and any method or methods of financing such plan, which methods may include revenue allocation financing provisions, WHEREAS, Idaho Code Section 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, the Agency commenced certain discussion concerning examination of an area as appropriate for an urban renewal project; WHEREAS, in 2019, Kushlan Associates and SMR Development, LLC commenced an eligibility study and preparation of an eligibility report for an area about 16 acres in size and located within the boundaries of the Downtown District Plan. 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, i . e ., a. the presence of a substantial number of deteriorated or deteriorating structures , be age or obsolescence , be predominance of defective or inadequate street layout; ca faulty lot layout in relation to size, adequacy, accessibility, or usefulness ; do insanitary or unsafe conditions ; e . defective or unusual conditions of title ; and es deterioration of site and other improvements ; WHEREAS , the effects of the listed conditions cited in the Report result in economic underdevelopment of the area, substantially impairs or arrests the sound growth of a municipality, constitutes an economic or social liability, and is a menace to the public health, safety, morals, or welfare in its 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 URBAN RENEwAL DISTRICT ORDINANCE - 20- 1882 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, the Union District Area was located within the boundaries of the Downtown District Plan and Project Area; WHEREAS, the City Council, after notice duly published, conducted a public hearing on the First Amendment to the Meridian Revitalization Plan, Urban Renewal Project ( "First Amendment to the Downtown District Plan") , WHEREAS, following said public hearing, the City Council adopted its Ordinance No . 20- 188lon June 9, 2020, approving the First Amendment to the Downtown District Plan deannexing the Union District area and making certain findings; WHEREAS , the current assessed taxable value of the deannexed parcels is on the tax rolls ; WHEREAS, in order to implement the provisions of the Act and the Law, either the Agency may prepare a plan or any person, public or private, may submit such plan to the Agency; WHEREAS , the Agency, developer and its consultants have undertaken the planning process during 2019 and 2020 ; WHEREAS , the Agency prepared the Urban Renewal Plan for the Union District Urban Renewal Project (the "Union District Plan ") and the urban renewal area referred to as the Union District Project Area (the "Project Area" or "Revenue Allocation Area") for the area designated as eligible for urban renewal planning; WHEREAS , the Union District Project Area includes the parcels deannexed from the existing Downtown District Project Area, WHEREAS, the Act authorizes urban renewal agencies to adopt revenue allocation financing provisions as part of their urban renewal plans ; WHEREAS , the Union District Plan contains the provisions of revenue allocation financing as allowed by the Act; WHEREAS , the Agency Board considered all comment and information submitted to the Agency during several earlier Board meetings throughout 2019 and 2020, and the Board meeting held on March 25 , 2020 ; WHEREAS, on March 25 , 2020 , the Agency Board passed Resolution No . 20-009 URBAN RENEWAL DISTRICT ORDINANCE - 204 882 proposing and recommending the approval of the Union District Plan; WHEREAS , the Agency submitted the Union District Plan to the Mayor and City Council; WHEREAS , the Mayor and City Clerk have taken the necessary action in good faith to process the Union District Plan consistent with the requirements set forth in Idaho Code Sections 50-2906 and 50-2008 ; WHEREAS , pursuant to the Law, at a meeting held on April 16, 2020, the Meridian Planning and Zoning Commission considered the Union District Plan and found by P& Z Resolution No PZ-20 -02 that the Plan is in all respects in conformity with the City of Meridian Comprehensive Plan, as may be amended (the "Comprehensive Plan") and forwarded its findings to the City Council, a copy of which is attached hereto as Exhibit 1 , WHEREAS, the notice of public hearing of the Union District Plan was caused to be published by the Meridian City Clerk in the Meridian Press on April 24, 2020, and in the Idaho Statesman on May 1 , 2020, a copy of said notices are attached hereto as Exhibit 2 ; WHEREAS, as of April 24, 2020, the Plan was submitted to the affected taxing entities, available to the public, and under consideration by the City Council; WHEREAS, the City Council during its regular meeting of June 2, 2020 and June 9, 2020, held such public hearings as noticed; WHEREAS , as required by Idaho Code sections 50 -2905 and 50-2906, the Union District Plan contains the following information with specificity which was made available to the general public and all taxing districts prior to the public hearing on June 2, 2020, the regular meeting of the City Council, at least thirty (30) days but no more than sixty (60) days prior to the date set forth final reading of the ordinance : ( 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) 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, notes and/or other obligations are repaid, upon all taxing districts levying taxes upon property in the revenue allocation area; (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 section 50 -2903 (20), Idaho Code . In determining the termination date, the plan shall recognize that the agency shall receive allocation of revenues in the calendar year following the last year of the revenue allocation provision described in the urban renewal plan; and (8) a description of the disposition or retention of any assets of the agency upon the termination date . Provided however, nothing herein shall prevent the agency from retaining assets or revenues generated from such assets as long as the agency shall have resources other than revenue allocation funds to operate and manage such assets ; URBAN RENEWAL DISTRICT ORDINANCE - 204 882 WHEREAS, the Union District Plan authorizes certain projects to be financed by revenue allocation bonds, or loans and proceeds from revenue allocation; WHEREAS, pursuant to Chapter 14, Title 40 , Idaho Code, the Ada County Highway District ("ACHD") is granted certain authority and jurisdiction over public rights of way within the Project Area, as that term is defined in the Plan, WHEREAS , appropriate notice of the Union District Plan and revenue allocation provision contained therein has been given to the taxing districts and to the public as required by Idaho Code § § 50 -2008 and 50-2906 ; WHEREAS , it is necessary and in the best interest of the citizens of the City, to adopt 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 : encourage private development in the urban renewal area; prevent and arrest decay of the City due to the inability of existing financing methods to provide needed public improvements ; encourage taxing districts to cooperate in the allocation of future tax revenues arising in the Project Area in order to facilitate the long-term growth of their common tax base; encourage private investment within the City; and to further the public purposes of the Agency; WHEREAS , the City Council finds that the equalized assessed valuation of the taxable property in the Project Area is likely to increase, and continue to increase, as a result of initiation and continuation of urban renewal projects in accordance with the Union District Plan, 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 URBAN RENEWAL DISTRICT ORDINANCE - 204 882 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 the Law, 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 collective base assessment rolls of the 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 City Council at its regular meeting held on June 9, 2020, considered the Union District Plan as proposed and made certain comprehensive findings . NOW, THEREFORE , BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF MERIDIAN, IDAHO : SECTION I : It is hereby found and determined that: (a) The Project Area as defined in the Union District Plan is a deteriorated or a deteriorating area as defined in the Law and the Act and qualifies as an eligible urban renewal area under the Law and Act. (b) The rehabilitation, conservation, development and redevelopment of the urban renewal area pursuant to the Union District Plan are necessary in the interests of public health, safety, and welfare of the residents of the City. (c) There continues to be a need for the Agency to function in the City. (d) The Union District Plan conforms to the City of Meridian Comprehensive Plan as a whole . (e) 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 mixed use components of the Plan and the need for overall public improvements), and shows consideration for the health, safety, and welfare of any children, residents or businesses in the general vicinity of the urban renewal area covered by the Union District Plan. (f) The Union District Plan affords maximum opportunity consistent with the sound needs of the City as a whole for the rehabilitation and redevelopment of the urban renewal area by private enterprises . (g) Pursuant to Idaho Code § § 50-2007(h) and 50-2008 (d) (1), the Union District Plan provides a feasible method for relocation obligations of any displaced families URBAN RENEWAL DISTRICT ORDINANCE - 20- 1882 residing within the Project Area and there is not anticipated to be any activity by the Agency that would result in relocation . (h) The collective base assessment rolls for the revenue allocation areas under the Existing Project Areas and the Union District Project Area, do not exceed ten percent ( 10%) of the assessed values of all the taxable property in the City. (i) The Plan includes the requirements set forth in Idaho Code § 50-2905 with specificity. (j ) The Union District Plan is sufficiently complete to indicate such land acquisition, demolition and removal of structures, redevelopment, improvements, and rehabilitation as may be proposed to be carried out in the urban renewal area, zoning and planning changes (if any) land uses, maximum densities, building requirements, and any method or methods of financing such plan, which methods may include revenue allocation financing provisions . (k) The urban renewal area, which includes the deteriorating area, as defined in Idaho Code section 50-2018 (9) and Idaho Code section 50 -2903 ( 8), does not include any agricultural operation for which the Agency has not received a written consent, or has not been used for agricultural purposes for three (3 ) consecutive years . ( 1 ) The portion of the 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. (in) The portion -of the 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 for residential uses is an integral part of and essential to the program of the City. SECTION 2 : The City Council finds that the Project Area does not include a substantial portion of open land, that the Agency may acquire any open land within the Project Area, and that the Project Area is planned to be redeveloped in a manner that will include both residential and nonresidential uses . Provided, however, the City Council finds that for the portions of the Project Area deemed to be ' open land, " the criteria set forth in the Law and Act have been met. SECTION 3 : The City Council finds that one of the Union District Plan objectives to increase the residential opportunity does meet the sound needs of the City and will provide housing opportunities in an area that does not now contain such opportunities, and the portion of the Union URBAN RENEWAL DISTRICT ORDINANCE - 204 882 District Project Area which is identified for nonresidential uses are necessary and appropriate to facilitate the proper growth and development standards in accordance with the objectives of City' s 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. SECTION 4 : The Union District Plan, a copy of which is attached hereto and marked as Exhibit 3 and made a part hereof by attachment, be, and the same hereby is, approved. As directed by the City Council, the City Clerk and/or the Agency may make certain technical corrections or revisions in keeping with the information and testimony presented at the June 2, 2020, hearing and incorporate changes or modifications, if any. SECTION 5 : The City Council declares that nothing within the Union District Plan is intended or shall be interpreted to usurp the jurisdiction and authority of ACHD as defined in chapter 14, Title 40, Idaho Code. Further, pursuant to Section 404415 , Idaho Code, ACHD has authority over the planning, location, design, construction, reconstruction, and maintenance of the City rights of way and accompanying curbs, gutters, culverts, sidewalks, paved medians, bulkheads, and retaining walls . In the planning process, ACHD shall take into consideration the principles contained in the Plan . SECTION 6 : No direct or collateral action challenging the Union District Plan shall be brought prior to the effective date of this Ordinance or after the elapse of thirty (30) days from and after the effective date of this Ordinance adopting the Union District Plan . SECTION 7 : Upon the effective date of this Ordinance, the City Clerk is authorized and directed to transmit to the County Auditor and Ada County Assessor, and to the appropriate officials of Ada County Board of County Commissioners, City of Meridian, Ada County Highway District, Joint School District No 2, Ada County Ambulance/EMS , Meridian Cemetery District, College of Western Idaho, Meridian Library District, Mosquito Abatement District, the Western Ada Recreation District, and the State Tax Commission a copy of this Ordinance, a copy of the legal description of the boundaries of the Revenue Allocation Area, and a map or plat indicating the boundaries of the Project Area. SECTION 8 : The City Council hereby finds and declares that the Revenue Allocation Area as defined in the Union District Plan, the equalized assessed valuation of which the City Council hereby determines is in and is part of the Union District Plan is likely to increase as a result of the initiation and completion of urban renewal projects pursuant to the UnionDistrictPlan. SECTION 9 : The City Council hereby approves and adopts the following statement policy relating to the appointment of City Council members as members of the Agency's Board of Commissioners : If any City Council members are appointed to the Board, they are not acting in an ex officio capacity but, rather, as private citizens who, although they are also members of the City Council, are exercising their independent judgment as private citizens when they sit on the Board. Except for the powers to appoint and terminate Board members and to adopt the Union District Plan, the City Council recognizes that it has no power to control the powers or operations of the Agency. URBAN RENEWAL DISTRICT ORDINANCE - 20" 18 82 SECTION 10 : So long as any Agency bonds, notes or other obligations are outstanding, the City Council will not exercise its power under Idaho Code section 50 -2006 to designate itself as the Agency Board . SECTION 11 : This Ordinance shall be in full force and effect immediately upon its passage, approval, and publication and shall be retroactive to January 1 , 2020, to the extent permitted by the Act. SECTION 12 : The provisions of this Ordinance are severable, and if any provision of this Ordinance or the application of such provision to any person or circumstance is declared invalid for any reason, such determination shall not affect the validity of remaining portions of this Ordinance. SECTION 13 : The Summary of this Ordinance, a copy of which is attached hereto as Exhibit 4, is hereby approved. SECTION 14 : All ordinances, resolutions, orders , or parts thereof in conflict herewith are hereby repealed, rescinded, and annulled . SECTION 15 : Savings Clause . This Ordinance does not affect an action or proceeding commenced or right accrued before this Ordinance takes effect. PASSED by the City Council of the City of Meridian, Idaho, this 9th day of June, 2020 . APPROVED by the Mayor of the City of Meridian, Idaho, this 9th day of June, 2020 . 0SATED A UC APPROVED : G0 TEST . ti �W �p � City of E 1BIA _ f a � IDAH obert E Simi on, Mayor o Cit SEAT - yr Fy ' be TV re 1 URBAN RENEWAL DISTRICT ORDINANCE — 20" 1882 EXHIBIT 1 PLANNING AND ZONING RESOLUTION PZ - 20 - 02 URBAN RENEWAL DISTRICT ORDINANCE - 204 882 RESOLUTION PZ=20=02 CITY OF MERIDIAN I BY THE PLANNING AND ZONING COMMISSION A RESOLUTION OF THE PLANNING AND ZONING COMMISSION FOR THE CITY OF MERIDIAN, IDAHO, VALIDATING CONFORMITY OF THE URBAN RENEWAL PLAN FOR THE UNION DISTRICT URBAN RENEWAL PROJECT WITH THE CITY OF MERIDIAN ' S COMPREHENSIVE PLAN WHEREAS , the Urban Renewal Agency of the City of Meridian (the "City"), Idaho , also known as Meridian Development Corporation (hereinafter "MDC"), the duly constituted and authorized urban renewal agency of the City, has submitted the proposed Urban Renewal Plan for the Union District Urban Renewal Project (the "Union District Plan") to the City; and WHEREAS , the Mayor and Meridian City Council referred the Union District Plan to the City Planning and Zoning Commission for review and recommendations concerning the conformity of said Union District Plan with the City ' s Comprehensive Plan, as amended (the "Comprehensive Plan") ; and WHEREAS , on April 16 , 2020 , the City Planning and Zoning Commission met to consider whether the Union District Plan conforms with the Comprehensive Plan as required by Idaho Code § 50-2008 (b) ; and WHEREAS , the City Planning and Zoning Commission has reviewed said Union District Plan in view of the Comprehensive Plan $ and WHEREAS , the City Planning and Zoning Commission has determined that the Union District Plan is in all respects in conformity with the Comprehensive Plan , NOW, THEREFORE, BE IT RESOLVED BY THE PLANNING AND ZONING COMMISSION FOR THE CITY OF MERIDIAN, IDAHO : Section 1 . That the Union District Plan, submitted by MDC and referred to this Commission by the Mayor and City Council for review, is in all respects in conformity with the City ' s Comprehensive Plan . Section 2 . That Exhibit A, the memorandum from Caleb Hood , Planning Division Manager dated April 8 , 2020 outlining the findings supporting the determination that the Union District Plan is in conformity with the City ' s Comprehensive Plan, is hereby adopted and incorporated as part of this Resolution . RESOLUTION OF THE PLANNING AND ZONING, VALIDATING CONFORMITY OF THE URBAN RENEWAL PLAN FOR THE UNION DISTRICT URBAN RENEWAL PROJECT WITH THE CITY OF MERIDIAN ' S COMPREHENSIVE PLAN - 1 of 2 Section 3 . That the City Clerk hereby authorized and directed to provide the Mayor and Meridian City Council with a signed copy of this Resolution relating to said Union District Plan . Section 4 . That this Resolution shall be in full force and effect immediately upon its adoption and approval . ADOPTED by the Planning and Zoning Commission of the City of Meridian, Idaho , this 16th day of April 2020 . APPROVED : ATTES • air, . lannin and Zoning Commission Cit Clerk RESOLUTION OF THE PLANNING AND ZONING, VALIDATING CONFORMITY OF THE URBAN RENEWAL PLAN FOR THE UNION DISTRICT URBAN RENEWAL PROJECT WITH THE CITY OF MERIDIAN ' S COMPREHENSIVE PLAN - 2 of 2 Mayor Robert E . Simison E I DIA Nj City Council Members: ` �1/ Treg Bernt Brad Hoaglun Joe Borton Jessica Perreault Luke Cavener Liz Strader EXHIBIT A TO RESOLUTION PZ-20 -02 April 9 , 2020 MEMORANDUM TO : Mayor Robert Simison Meridian City Council Meridian Planning & Zoning Commission CC : David Miles, Chief of Staff Cameron Arial , Community Development Director Victoria Cleary, Economic Development Administrator Caleb Hood, Planning Division Manager FROM : Caleb Hood, Planning Division Manager Brian McClure, Comprehensive Associate Planner RE : Urban Renewal Plan for the Union District Urban Renewal Project This memo is intended to provide Comprehensive Plan related analysis for the proposed Urban Renewal Plan for the Union District Urban Renewal Project (Union District Plan) in downtown Meridian . Due to the current COVID - 19 outbreak and associated quarantine, Staff is including analysis within this memo that otherwise would be shared and explained during the meeting. City Staff will be in virtual attendance at the April 161I' Planning & Zoning Commission meeting to give a brief report and summary and to answer any questions , but does not intend to get into many details ; this memo should be relied on heavily for Staff' s analysis . Application of the City ' s Comprehensive Plan (Plan) to the proposed Union District area (see Attachment A) is very relevant. Every major theme (chapter) in the Plan ranging from economic development and land use to historic preservation and transportation contain policies that are directly applicable . Additionally, the Comprehensive Plan adopts other documents by reference, for inclusion in consideration of land use decisions and to direct staff activities . Many of the referenced documents are relevant both in geographic area and to the described implementation strategies and goals in the Union District Plan . The following analysis describes the associated text, policies, and referenced plans . EXHIBIT A TO P & Z RESOLUTION 20-02 Analysis Plan Text The implementation strategies and goals stated in the Union District Plan clearly describe activities aimed at stimulating private development through the reduction of blight and the construction or community improvements . Some of the listed activities include : design and construction of infrastructure improvements ; acquisition or support in rehabilitation of real property ; financial assistance for business ; advanced funding for developments and public - private partnership in the construction of a new Community Center. See pages 34 and 9- 10 of the plan for how the goals of the plan will be achieved . The Evolving Community section (Chapter 3 ) of the City ' s Comprehensive Plan , defines future land use typologies . The description for Old Town , the adopted future land use in and around the project area, states : This designation includes the historic downtown and the true community center. The boundary of the Old Town district predominantly follows Meridian 's historic plat boundaries. In several areas, both sides of a street were incorporated into the boundary to encourage similar uses and complimentary design of the facing houses and buildings. Sample uses include offices, retail and lodging, theatres, restaurants, and service retail for surrounding residents and visitors. A variety of residential uses are also envisioned and could include reuse of existing buildings, new construction of multifamily residential over ground floor retail or office uses. The City has developed specific architectural standards for Old Town and other traditional neighborhood areas. Pedestrian amenities are emphasized in Old Town via streetscape standards. Additional public and quasi public amenities and outdoor gathering area are encouraged. Future planning in Old Town will be reviewed in accordance with Destination Downtown, a visioning document for redevelopment in Downtown Meridian. Please see Chapter 2 Premier Community for more information on Destination Downtown . Sample zoning include O- T. The Old Town future land use designation is the most diverse in the City ' s land use portfolio , with the greatest combined range of residential and non-residential uses and no caps on density or intensity of developed uses . Further, the City ' s complimentary zoning, also named Old Town (O-T) , has zero setbacks for structures , relaxed parking requirements , and reduced landscape setbacks (aside from pedestrian streetscape infrastructure. ) Interestingly, the Union District Plan makes numerous references to the City ' s planning documents dictating density and character elements, but it is Destination Downtown, developed by the Meridian Development Corporation (MDC), that dictates general uses , building mass and character, and intensity of developments . The City has adopted Destination Downtown by reference, and supports MDC ' s plan by adopting an eclectic and flexible future land use and zoning designation . With Destination Downtown nearing a decade of use however, existing conditions varying in several significant areas, many new stakeholders and community groups, and with the downtown urban renewal district expiring in the upcoming years , it is likely the plan is nearing the end of its relevancy. Plan Policies The following text relates to the policies found throughout the major themes in the Comprehensive Plan (Chapters 2 through 6) . Not all policies must be addressed or apply to the Union District Plan , but staff has tried to include all downtown related policies below. Additional context for these policies can be found in the Related Policies section (see Attachment B), which EXHIBIT A TO P & Z RESOLUTION 20-02 includes parent Goals and Objectives, for the referenced policies . Note : the first number of a policy references the Chapter in which the policy can be found. • 2 . 02 . 01E, Encourage the development of high quality, dense residential and mixed use areas near in and around Downtown, near employment, large shopping centers, public open spaces and parks, and along major transportation corridors, as shown on the Future Land Use Map . A new urban renewal district focused on infrastructure (parking, utilities , etc . ) would provide the tools necessary to support and encourage redevelopment in an area of town that suffers from significant blight. • 2 .02 . 02B , Consider incentives such as density bonuses, reduced open space requirements, and reduced fees for infill development in key areas near existing services . A new urban renewal district could provide for incentives such cis infrastructure and in f*astructure reimbursement through tax increment financing (TY) . • 2 . 02 . 02C, Support infill development that does not negatively impact the abutting, existing development . Infill projects in Downtown should develop at higher densities , irrespective of existing development. The Union District Plan does not address how transitions between existing and proposed redevelopment may take place, but could do so transparently as part of negotiations for partnerships with the Urban Renewal District, and through public hearing and administrative approvals with the City. Staff will review future projects for consistency with this policy. The Union District Plan addresses density increases throughout the document. • 2 . 02 . 02D, Apply appropriate design and construction standards to infill development in order to reduce adverse impacts to existing development. The Union District Plan makes specific references to establishing performance criteria and design standards in goad T (page 4), and duplicated under implementation letter `w ' (page 11) . They state: In conjunction with the City, the establishment and implementation of performance criteria to assure high site design standards and environmental quality and other designn elements which provide unity and integrity to the entire Project Area, including commitment of funds for planning studies, achieving high standards of development, and leveraging such development to achieve public objectives and efficient use of scarce resources. This is critical work to be done proactively, as the City does not have any site or building design standards specific to Downtown (just general traditional neighborhood design), or for policies related to historic preservation and enhancements. NOTE: Development of design standards downtown has not been preliminarily identified as a high priority project for the City. • 2 . 09 . 0113 , Establish incentives to develop gathering spaces and civic facilities within Downtown. A new urban renewal district could provide for incentives such as gathering spaces and civic facilities, which could be reimbursed through tax increment financing (TIF) . Part of the Union District Plan specifically references a public private partnership, including the City, for the construction of a communio) center. • 2. 09 .01C, Work towards mitigating and removing floodplain issues around Downtown. There is no floodplair in this area of Downtown . EXHIBIT A TO P & Z RESOLUTION 2M2 • 2 , 09 . O2A, Actively implement action items in the Destination Downtown Plan. Destination Downtown was created by the Meridian Development Corporation fir the downtown Urban Renewal District, and adopted by the City. This plan was extremely broad in land use diversity, area, and scope. The project area for the Union District Plan is included within the Destination Downtown area, but previous efforts failed to eliminate blight that this new district seeks to address. With the existing downtown urban renewal set to expire in the coming years, this new district is an opportunity for more renewed and focused efforts, both geographically and in implementation activities. • 2 . O9 . O2B , Pursue grants and public-private partnerships to enhance Downtown. A new urban renewal district could both provide grants and make more competitive applications for grants, by utilizing a dedicated funding source such as tax increment financing (TIF) . • 2 . O9 . O2C , Develop programs with local partners to expand art, cultural , and educational facilities in Downtown. There are several references to these activities and facilities throughout the Union District Plan. Art may be done both as public private partnership, or independent of development, and educational facilities are described in several areas including implementation strategies (letter `o ) . It should be noted that the Union District Plan describes the Urban Renewal District 's abiliiy to make decisions related to public art independent of the Meridian Arts Commission, which to date has focused a great deal Qf time, money, and energy in downtown. Staffrecommends caution with multiple independent entities exercising self= determination of overlapping activities. • 2 . O9 . O2D, Develop and support regular cultural activities and events Downtown, in partnership with the Downtown Business Association and other organizations . Supporting events is not described within the Union District Plan directly, but supporting the development of locations for these to occur is addressed. • 2 . O9 . 02F, Support a compatible mix of land uses Downtown that activate the area during day and night. Supporting specific uses at discrete times of the day is not described within the Union District Plan directly, but supporting the development of mixed-use locations, facilities, and supporting infrastructure (e. g. — parking) is discussed. • 2 . O9 . O2G, Implement the City of Meridian Design Standards and City of Meridian Architectural Standards Manual to ensure that Downtown remains the historic center for mixed-use tourism, business, retail, residential, and governmental activities . The City has land use authority over the project area and implementation of'design and architectural standards must be met. However, these standards, while allowing for these types of uses/attractions, does not necessarily cater to or encourage them . Additional work is necessary if downtown specific and historical context is desired. The Union District Plan speaks to this work under goal `i ' (page 4), and duplicated under- implementation letter `w ' (page H) . • 2. O9 . 03B , Promote Ten Mile, Downtown, and The Village as centers of activity and growth. The Union District Plann seeks to redevelop some of the most blighted property in the City, at the heart and center of the Downtown area, and which is otherwise adjacent to some of the most iconic and well used public spaces outside of traditional parks. By successfully EXHIBIT A TO P & Z RESOLUTION 20-02 redeveloping this highly visible blight, Downtown will be well placed to offer and promote a dense concentration of public spaces for activioJ use by many. • 2 . 09 . 03E, Develop concept plans of potential destination activities and promote appropriate development, infill, and redevelopment of activity centers . The Union District Plan does not address this directly, but the intention of the Plan is to support these types of activities through public private partnerships of community facilities. • 3 . 03 . 01 E, Encourage infill development. The unstated pui pose of the Union District Plan, through virtually all of the goals and implementation strategies, is to encourage infill development through redevelopment of blighted lands and development of community,facilities through public private partnerships. • 3 . 03 . 03G, Require urban infrastructure be provided for all new developments, including curb and gutter, sidewalks, water and sewer utilities . The City has land use authoi r ty over the project area and urban infrastructure will be required with all redevelopment. Further, the Union District Plan calls out specific implementation strategies including road, curb, gutter, streetscape, lighting, stormwatet, and others throughout the document (including financial analysis). • 4 . 04 . 02A, Identify opportunities for new paths that connect residential neighborhoods and community facilities , such as the library and city hall, parks, schools, athletic facilities, swimming pools , historic districts, the Downtown, as well as other commercial and retail activity centers in Meridian. The City 's Pathway Master Plan depicts several options through the project area, and will be required as part of redevelopment of the site. The Union. District Plan references pathways both through goals and implementation items. • 4 . 05 . 01E, Assess environmental impact of potential new development, infill, and redevelopment. The Union District Plan specifically addresses environmental assessment of brownfield sites, and more generally towards environmental quality and creating standards to maintain environmental quality in coordination with the City (goal letter `i ) . Outside offloodplain impacts however, the City does not have much in the way of requirements or regulations to this end. • 5 . 02 .01 A, Maintain and implement design and building standards for historically significant buildings and resources in Old Town. There are no historically significant structures within the project area.. The Union District Plan emphasizes consideration for the historic character and quality of the area. Stronger efforts by designers to this end are needed, or standards created, to protect and enhance the general area prior to design and permit approval for structures in this area, if this policy statement is a priority. It would be difficult to suggest that preliminary concepts for structures on either the Civic Block or Union Pacific property compliment or lend aid to any historic themes in the Old Town area. The bulk and mass of concept buildings could easily overwhelm and minimize other historic structures in the area without further integration of ideas and themes. EXHIBIT A TO P & Z RESOLUTION 20-02 • 6 . O1 . 01C, Improve ingress and egress opportunities for all modes of transportation in Downtown. The Union District Plan references improvements to roads, sidewalks, pathways, and a railroad crossing, as projects for implementation . Improvements to East 314d Street specifically would greatly enhance bicycle access into downtown, and provide more options for local residents and stakeholders. • 6601 . 02D, Consider needed sidewalk, pathway, landscaping, and lighting improvements with all land use decisions . The City has land use authorioJ over the project area and redevelopment will be required to provide infrastructure. The Union District Plan also specifically references all of these elements as projects for implementation . • 6 . 01 . 02I, Pursue the extension of Idaho Ave. and/or Broadway Ave. to Commercial Dr. and the extension of East 3rd St. from Fairview Ave. to Pine Ave. in Downtown . While not directly referencing the extension of these streets, proposed implementation (improvement) projects for both Broadway Ave and East 3'*d Street would go a long way in highlighting the value of these projects and encouraging their construction . • 6001 . 02L, Work with ACHD to implement projects from the 2012 Downtown Meridian Neighborhood Pedestrian and Bicycle Plan. While not directly referencing coordination with ACHD on implementation of the 2012 Neighborhood Plan, improvements to East 3'*" Street are directly aligned and much needed for nort&south bicycle connectivity through Downtown. Neither Meridian Road nor Main Street have dedicated bike facilities, and a safe multi-modal, north -south connection is needed between existing pathway connection on Franklin near Storey Park, and on Pine near Five Mile Creek. EXHIBIT A TO P S Z RESOLUTION 20-02 Referenced Plans The following plans are adopted by reference in the City of Meridian Comprehensive Plan, and are relevant material to the proposed Union District Plan. • Downtown Meridian Street Cross-section Master Plan Every road within the project area is inchided within the Downtown Meridian Street Cross- section Master Plan . Adopted in 2014, this document includes cross-section concepts intended to work with minimal impact to available impact, while also serving multiple modes. Vibrant streetscape activity is especially important in the Old Town area, and including the Union District Project area. Connectivity both east-west and north-south through the downtown area is very important. It is particularly important that East 3'#d Street incorporate a pathway element to support j connectivity of the City 's Pathway Master Plan through downtown, connecting Storey Park to Fairview Avenue. Traffic speeds on Meridian Road are unfriendly to pedestrian, and neither Meridian Road nor Main Street provide safe bicycle connectivity north-south, and there is no other railroad crossing within the downtown area besides East 3'*d Street. • Historic Preservation Plan The Historic Preservation Commission and City adopted this plan in 2014. With less than 2. 2 % of Meridian 's housing stock being older than 1960 's construction (2017 Existing Conditions Report), and almost all of it consolidated in the Downtown area, there is very limited opportunity for historic preservation outside of agricultural themes in the larger community. Several goals fi4om this plan are relevant to the Union District Plan, including: o Goal I Preserve and enhance Meridian 's historical, cultural and agricultural heritage. o Goal 3 Heighten public awareness of historic preservation in the community and improve preservation education efforts for various audiences. o Goal 4 Maintain and strengthen support for historic preservation from individuals, commercial property owners, local organizations and neighborhood groups. These goals for the Commission (and City) are not just about preserving, but also enhancing and generating awareness of Meridian 's history. Additional objectives ,for these goals are described within the plan . • Meridian Rail-With-Trail Action Plan A portion of* the project area includes Union Pacific right-of-way that is a part of the Boise cut-off. The Meridian Rail- With- Trail Action Plan identified an opportunity for a Treasure Valley-wide multi-use pathway. This Action Plan has since been supplemented with numerous planning efforts looking at more detailed cross-sections, street crossings, and alternatives. Meridian is actively working to construct certain portions, and part of this network must be constructed within the project area, either along the rail corridor right-of- way or integrated through site planning. EXHIBIT A TO P & Z RESOLUTION 20-02 • Meridian Parks and Recreation Master Plan One of' the projects described in the proposed Union District Plan is the development of a community center as part of the Civic Block project. Objective 4. 3 of the Meridian Parks and Recreation Master Plan identifies expanded indoor recreation space as a priority for the community. Pathways are another significant element of this plan, and further emphasizes the demand for connectivity improvements to and through downtown, and the project area. • Meridian Pathways Master Plan The Pathways Master Plan identifies nort&south (East 3"d Street) and east-west (Broadway/Rail with Trail) pathway connections through the project site. This plan works in concert with the Parks and Recreation Master Plan, Meridian Rail- Wit& Trail Action Plan, and through many of the policies in the Comprehensive Plan . • Downtown Meridian Transportation Management Plan This plan has resulted in significant roadway expansions within Meridian, including the split corridor phase 1 and phase 2 improvements. Two of the last projects left in the Downtown Meridian Transportation Management Plan are the East 3`1 Street connection north of Carlton Ave and south of Badley Ave, and the extension of either Broadway Ave or Idaho Ave east to Commercial Ave (and ultimately to Locust Grove) . These projects/connections are essential in supporting the densities necessary for the larger downtown area to be a thriving center of activity. The Union District Plan could benefit both of these streets in close proximity to the areas set for expansion . • Downtown Meridian Neighborhood Pedestrian and Bicycle Plan Developed by ACHD, this plan identified a number of community drive projects to enhance the pedestrian and bicycle connectivity in the area. ACHD has been diligent in programming and constructing these projects, and one of the last significant components is identified sidewalk improvements on East 3'*d Street. There are sidewalk gaps in the project area and the rail crossing is unsafe and outright impassable for some with mobility disabilities. One of the projects in the Union District Plan would include street improvements to East 310`i Street near Broadway, and including the rail crossing. All of these plans are available on the City' s Comprehensive Plan website at: hllps://meridiancity. org/planningiconplan/resources. Recommendation Based on the analysis provided in this memo, Staff believes establishing an Urban Renewal District Plan for the Union Block project to be consistent with the Comprehensive Plan and in the best interest of the City. Accordingly, Staff recommends that the Commission move to approve the two related Resolutions on the meeting agenda as follows , A RESOLUTION OF THE PLANNING AND ZONING COMMISSION FOR THE CITY OF MERIDIAN, IDAHO, VALIDATING CONFORMITY OF THE FIRST AMENDMENT TO THE MERIDIAN REVITALIZATION PLAN WITH THE CITY OF MERIDIAN ' S COMPREHENSIVE PLAN A RESOLUTION OF THE PLANNING AND ZONING COMMISSION FOR THE CITY OF MERIDIAN, IDAHO, VALIDATING CONFORMITY OF THE URBAN RENEWAL PLAN FOR THE UNION DISTRICT URBAN RENEWAL PROJECT WITH THE CITY OF MERIDIAN' S COMPREHENSIVE PLAN EXHIBIT A TO P & Z RESOLUTION 20-02 Attachment A : Union District Area Urban Renewal District) Future Land Uses I ( III I J J f I I LLL (W� L�� F� Medium Density Residential t_J J—I—I �_. Industrial E STATE AVE —\ 0 Civic R ( � n � old town I I I I H n� Mixed Use Community - E- PINE-AVE y , WIDAHOAVEN v~i 1? E IDAa ■a. � � ZL—LLLII ■ HO AVE - - -1 - - H c I3 IHZ z [fl � 'j�j _ ��❑j �W !!!! f l� WBROADWAY AVE I Z = E BROADWAY AVE uj W� 11V WZ: RAILROAD_ST= � ■ W— ■ N !i + Iii Ir �L� �_ �1 Lj [W. BQWER.ST E BOVJER3T N y —fIf -- -F-T o�O i Will E aL J DA ST-N Legend N Z I _ 5. : Urban Renewal District r... ti — - WTAYLORAVE - M :; I I f n �-, ❑ - El Parcels 111 LLLJJJ E KING ST - - f - Railroad arm I ------- - - 0 Ymmmmmmm=======3Feet EXHIBIT A TO P & Z RESOLUTION 20-02 i Attachment B : Related Policies The policies below are from the City of Meridian Comprehensive Plan . For policy type : G = Goal ; O = Objective, and A = Action . Goals and Objectives are shown with referenced actions for additional context, along with a referenced section . ID Policy Policy Section Type 10Z00 G Plan for safe, attractive, and well-maintained neighborhoods that have Housing ample open space, and generous amenities that provide varied lifestyle choices . 2402 , 01 O Elevate and enhance the quality and connectivity of residential site and Housing subdivision planning . 2. 02. 01E A Encourage the development of high quality, dense residential and mixed use Housing areas near in and around Downtown, near employment, large shopping centers, public open spaces and parks, and along major transportation corridors, as shown on the Future Land Use Map. 2 , 02 , 02 0 Maximize public services by prioritizing infill development of vacant and Housing underdeveloped parcels within the City over parcels on the fringe . 2402002E A Consider incentives such as density bonuses, reduced open space Housing requirements, and reduced fees for infill development in key areas near existing services. 2. 02. 02C A Support infill development that does not negatively impact the abutting, Housing existing development. Infill projects in Downtown should develop at higher densities, irrespective of existing development. 2. 02. 02D A Apply appropriate design and construction standards to infill development in Housing order to reduce adverse impacts to existing development. 2 .09 .00 G Create positive, vibrant, and accessible commercial activity centers within Economic the community. Excellence 2 .09 .01 0 Support redevelopment and infill opportunities Downtown . Economic Excellence 2. 09. 018 A Establish incentives to develop gathering spaces and civic facilities within Economic Downtown, Excellence 2. 09. 01C A Work towards mitigating and removing floodplain issues around Downtown. Economic Excellence 2 ,09002 0 Integrate and maintain quality public spaces throughout Downtown for Economic recreation, social, and civic activities . Excellence 2, OR02A A Actively implement action items in the Destination Downtown Plan. Economic Excellence 2409002E A Pursue grants and public-private partnerships to enhance Downtown. Economic Excellence 2. 09. 02C A Develop programs with local partners to expand art cultural, and Economic educational facilities in Downtown. Excellence 2. 09. 02D A Develop and support regular cultural activities and events Downtown, in Economic partnership with the Downtown Business Association and other Excellence organizations. 2. 09002F A Support a compatible mix of land uses Downtown that activate the area Economic during day and night. Excellence 2. 09. 02G A Implement the City of Meridian Design Standards and City of Meridian Economic Architectural Standards Manual to ensure that Downtown remains the Excellence historic center for mixed-use tourism, business, retail, residential, and I EXHIBIT A TO P & Z RESOLUTION 20-02 governmental activities. 2. 09. 03 O Cultivate unique and diverse destination-type activities within Meridian 's Economic centers. Excellence 2. 09. 03E A Promote Ten Mile, Downtown, and The Village as centers of activity and Economic growth . Excellence 2. 09. 03E A Develop concept plans of potential destination activities and promote Economic appropriate development infill, and redevelopment of activity centers. Excellence 3, 03. 00 G Direct and prioritize development in strategic areas and in accordance with Growth and corridor and special area plans. Population 3. 03. 01 O Plan for an appropriate land use mix, recreational and civic facilities, and Growth and phased service extension within specific area plans and urban renewal Population districts. 3. 03. 01E A Encourage infill development. Growth and Population 3003003G A Require urban infrastructure be provided for all new developments, including Growth and curb and gutter, sidewalks, water and sewer utilities. Population 4. 04.00 G Develop a connected, comfortable, and comprehensive network of multi- Parks and purpose pathways . Pathways 4, 04 , 02 O Link pathways to important pedestrian generators, environmental features, Parks and historic landmarks, public facilities, Town Centers, and business districts . Pathways _ 4. 04. 02A A Identify opportunities for new paths that connect residential neighborhoods Parks and and community facilities, such as the library and city hall, parks, schools, Pathways athletic facilities, swimming pools, historic districts, the Downtown, as well as other commercial and retail activity centers in Meridian. 4 . 05 .00 G Preserve, protect, enhance, and wisely use natural resources . Stewardship 4005601 0 Protect and enhance existing waterways, groundwater, wetlands, wildlife Stewardship habitat, air, soils, and other natural resources . 4. 05. 01E A Assess environmental impact of potential new development infill, and Stewardship redevelopment. 5 .02 . 00 G Celebrate Meridian 's historical, cultural, and agricultural heritage . Historic Preservation 5002.01 O Enhance and restore the historical quality of Old Town . Historic Preservation 5 . 02 .01A A Maintain and implement design and building standards for historically Historic significant buildings and resources in Old Town . Preservation 6 . 01 .00 G Facilitate the efficient movement of people and products to and from the Transportation City. and Streets 6 .01 . 01 0 Support multi- modal and complete-street transportation improvements . Transportation and Streets 6. 01 . 01C A Improve ingress and egress opportunities for all modes of transportation in Transportation Downtown. and Streets 6601 , 02 0 Enhance existing transportation systems . Transportation and Streets 6401 . 02D A Consider needed sidewalk, pathway, landscaping, and lighting improvements Transportation with all land use decisions. and Streets 6. 01 , 021 A Pursue the extension of Idaho Ave. and/or Broadway Ave. to Commercial Dr. Transportation and the extension of East 3rd St. from Fairview Ave. to Pine Ave. in and Streets Downtown . EXHIBIT A TO P & Z RESOLUTION 20-02 6. 01 . 02L A Work with ACHD to implement projects from the 2012 Downtown Meridian Transportation Neighborhood Pedestrian and Bicycle Plan . and Streets EXHIBIT A TO P & Z RESOLUTION 20-02 Attachment C : Meridian Pathways Master Plan 1 Meridian Pathway Plan I I I I I I ( ( I I I I I I I I I I I I I = -• III,• -I Alternative Router a 73 Existing Pathway FFM - - -- — — On Street Route ESTATE AVE — - • - - - Proposed Pathway 14 [TTM 1111 E:P.INE;AV.E z ���W I z zi Z .�—W IDAHO AVE c-- _ _.__�i.____-- }, . r � - __ . —,_ --■ -----E IDAHO AVE— Z � f- - =- -W BROADWAYAVE • - --__oG C� Z - --- - JEBROADWAI YAVE-- � . . . Qv0 . . . . . • • =� - W RAILROADST _ ■ win W_BO.W gF �E BOWER mc rEADNiN Z' l District --WTAYLORAVE i��-�-p aLJ J JH �KING ST- �� ICI �--j� ® I L_L!_J_J ! 2 I H IFeet EXHIBIT A TO P & Z RESOLUTION 20-02 Attachment Do Downtown Meridian Street Cross - section Master Plan j Examples Main Street MAIN STREET: Ada Street to Carlton Avenue u3ki@trm ` . 5 _ I I .raeq AaU OtzP,ias,aaa baMa aj � ara "X, 2 � d v6.SA0r.wm:n11 „• tgoNadoyll a♦ o�'a ranFa,IklPA4alls . ;QEAPAS a, f-ucuo Differ `tIn ot lvlle-rve V Y ; tiirq — J. :raJ A ga dAOv Nidein tde'ry aebiw Mia,n edvlef0. dnal l,ht'ry deed AOY V ale wrdd wd;w Drp) intended to be consistent thematic elements, and must reconfiguration. Future improvements will generally be Ada StrePere Cadron Avenue be carried forward appropriately as consistent entryway located behind the back ofcurb, and occur either through thematic elements forthe length of the corridor private redevelopment and infill projects, orimpmvereents CONSIDERATIONS: by MDC and partneragencies. Driveways and unnecessary rrwe'ucn:nitltA D6de,l Well OF ULTIMATE CONDITIONS: kbreelaIn nea Rill three Ines elnh re.aer Main between Ada and Carlton isatraditionaldmvntown access points to Main should be restricted or removed feet ,nUrltrn firelane rare hie street lined predominately with older buildings and some The onlysignificant variation to the typical eAsting (2013) with redevelopment, particularly near alleyways p,rdkl/Ao;hdlkath infill redevelopment. Restaurants and professional services street cross-swtion is the potential forshort center median ' P,do-q Peratar (beth sti) arethe preeominatetypes ofexistig uses,vafth some gov islands These islands are envisioned to occurwhere traf- tldes) emment services and a numberof historic structures. The fic patterns will be minimally impacted, generally only P,rLinq C,pdtf 111 82 street is critical for north south vehicular and pedestrian restricting alleys from becoming through streets, and be raReatf (to. $IJA) 6-hat daarher. 64tat (Samfoi elv. connectivity, and is the primary arterial access far bull - built to provide additional aesthetic and thematic ben- Rar0t i tress and residential uses between Fairview and Franklin efits to the street environment On street parking should Belief W. SUS) varJee 8 feet fef nlulardc INTENT: generally be parallel where it occurs, with angled parking pnna,t Aaee Mole discouraged due to traffic and safety impacts, especially like Support Nita Sharcas The Intent OF this cross-section is to maintain and improve for bicycle users • Pulial lnpets III faam I-abes are euleaon It eu iodismfalerier connectivity, and balance the needs of both automotive mdiuomold use Irll cceffonco dtb vote adieu. Orife.ays. Lry and pedestrian uses. Detached walkways and landscape IMPLEMENTATION PROCESS: Fgdra,n, and other noditions eq altrfinal covet. Bee Parhnq sediw buffers are the top priority, with on-street parking also In most cosesthe actual madwayforthe Main Street cross- tcderstre>t oeslpe being critical, Streettrees, sgnage, pavers, and lighting are section is already built-out with little need for roadway DOWNTOWN MERIDIAN I CITY CORE STREET CROSS-SECTION MASTER PLAN STREET DESIGN EXHIBIT A TO P & Z RESOLUTION 20-02 East 211d Street EAST 2ND STREET: Broadway Avenue to Carlton Avenue a v of base cng Menu OetlPi h based enageme Pracerralicn dr'ffeey �N'12 ref Parunp — 'y li Want,oaps BufferJft Jet r Nrlrayeuflir tir. aa' a` If fornitare m t M Co File feeEyhtirg r� well v Riluired. • Desired ,q } r � raommenott1 ' r•f•N•M° 9-W Ednlhg edged Bl'N Fdrti,g edge of E818 � rh ®11'E®aCId ILai 21'EeGoi P3od. _ _ - _ 13 Peksrim - r Nsr.Sn IEe appadtdior dteratim nines«ti>, dzdgns While cross-section configuratdorewith increased parking IMPLEMENTATION PROCESS: BroadwayAvenueto CardtanAvenue are provided, In most conditions parking servicing local As a segment, the frequent cross-street and alley breaks CONSIDERATIONS: businesses should be consolidated off-street or located allow East 2nd to be developed more piecemeal then many Cross secoca Nidlh 80 feet (ROW ) 80 feet elsewhere, allowing fora more livehyand dynamic pedes- otherareas ofthe City Core. However, the curb-less nature East 2nd between Broadwayand Carlton consistsof short trian envireartaent that increases area draw. Road Lower Iuo-.at. re-;!ass of the identified cross-sections and resulting grade changes i block lengths with frequent cross-street and alley inter- DESCRIPTION OF ULTIMATE CONDITIONS: with new facilities will likely require improvements to be Peking Aegled and parallel An Jed. parallel, and sections. The only through cross-street on this segment made for the full width of the cross-section (both sides of emo however is Piney with all other streets dead-ending within East 2nd is intended to be a charming traditional doom- Parklnsf:pacNt-- -79. - _- --_571 r ryl - - the roadj may be possible for redevelopment to Caur traffic movements andpoa mile. This limited vides aity Is hess concluchmto heavy town street thatdditonal opportunities dining experiences through unique design enhs able to cater to social anchng and ements but therein ikely greater etween a long termcross-street and to walFnrsto. side) aid i;tiq cecr,ut:. Oewramdridt8rariea. 1 but there is likely greater long term cost-savings to doe 5 feat arleu 5 feet win. for pedestrian supportive focus and enhancement and comfortable pedestrian spaces. While trees are kept whole block at a time. Storm water is an important con - to provide a more pedestrian scaled and comfortable sideration Improvements should occuras public-private Bufferlea. dde) Varbc ewes min IS' +here INTENT: P P P time with wilbay pedestrian ervironment, they are pulled further from the partnerships to generate and foster greater place-making, This street segment is unique in that the short block lengths buildings to allow for more unobstructed business and Pathway None Nora raise awareness, and be supportive of new businesses or Bile Suppart None Nona and limited traffic allow for multiple cross-sections, whkh community sVeetscape uses, such as outdoor dining. renovations able to make use of the facilities. while consistent in thematic and alignment, offer vari- Cross-section options exist for medians or other special • Farling impa:ts aid feiva slues are enimites, do not iadic:ta interim ety of Configurations. Priority improvements should be street features such as topiary or artwork. See appendix CoRdoicnl. and insane foil compliance with cross secua,. Or;,e.ari. Yre focused on a wider pedestrian environment with emphasis hydrants. and other conditb,s may eher fdnalhocm. Sea Paring section on unique and memorable place-making configurations. eider Streot Deign. ^ r DOWNTOWN MERIDIAN CITY CORE STREET CROSS-SECTION MASTER PIAN STREET DESIGN k I { V EXHIBIT A TO P & Z RESOLUTION 20-02 East 3rd Street Franklin Road to Broadway Avenue UUMI lV:aFz�gNm6) w o ^"—]"..` Oe.5n u6uedsoeened9ed V P senatian CN Y E m , ry '�f admeg RON.$at nag my VI b nj m swat br eoe6nwaagnMa F P u,g 31 � Itss ., V 'I .ails .,. oaf Im 'S F Fath.af f' " F Fe Streaiseapa Delta,- V Pad.ad Mar 151 Q r femitsre F . ugkll+g 7A m all aaRevaa. • Ra:im I :A ilk £ F EdE'rg alga IIRO'd _ YYPke_v 'a+ . L. :. _ = 3ToF El1�Rail6rfIII dI�rdn -..- _. INTENT: ample buffers forthe detached pathways and sidewalks Franklin Roodro BroadwayAwntre The primary intent of this cross-section and any varia- are all important safety and aesthetic elements for the CONSIDERATIONS: tion is to provide for safe and convenient north-south long-term health of the nelghborhoods. Bulbouts should crou'lectmrtnalh 80-1ee1 Will) 76last pedestrian connectivity between Franklin and downtown. be developed at street corners to further enhance safety Fast 3rd between Franklin and Broadway is predominately The required ten-foot detached pathway must be on the and provide additional opportunities for landscaping and Road Iwa wad Two War residential in nature, but is entirely within the Transit Ori- west-side of the road, which has fewer driveway conflicts additional district thematic elements. Parting P:rallat Parade ented and Cultural district (TOD). Improvements should be and opportunities for further reductions with redevelop- IMPLEMENTATION PROCESS: Parking C ap¢itr' Vanes 51 supportive of higher density and transit supportive uses In ment taking access from alleyways. Walkways must be . side) Vedas. a to 5lset 011111 LBloatI ultimate conditions, and all efforts should be made with detached, and residential appropriate lighting provided Though im llahngs (as a plementation may occurwith fragmented parcel Ingnentaagap (east aide) redevelopment to provide for additional enhancements to enhance safety. On-street parking should be provided, specific redevelopment, it is assumed that implementation Duffer (ea. ads) Verret 8loa l ardecapa buffer. which capitalize on these future services. Alleyways are but angled and perpendicular configurations are heavily of the pathway will require concerted efforts on behalf Mr. another important consideration with the corridor, and discouraged to ensure continuity of the pathway and to of MDC and City The pathway is crifical for accessibility, Pathwag Ka Yao. lO feet ,aln. (west must be adequately signed and enforced to ensure pedes- reduce back-out conflicts vrith through traffic. safety, and quality of life, and should be implemented in side) trian safety along the corridor. While alley use is already blocks and segments. Interim redevelopment enhance- Oils 51 No Sfarrrwa predominately one-way forwestbound travel, this should DESCRIPTION Of ULTIMATE CONDITIONS: ments may not require full improvements if MDC and 6Parlissirends aid gmsf. ealar: are e511m1en. da roUrdlnte hudn be verified and coordinated with impacted stakeholders, While East 3rd Is not Intended to serve as an entryway the City are not able to expand and maintain pathway onduons, a,daocunalaaeosA6+cawat emu ;ecn aaaa on. onrt. liraby. and considered for access with redevelopment. corridor, It is important for connectivity Into the down- components, but redevelopment must make allowances dreme. and otF rcmdutm: nag alter oral eougt. Soe PI I order town area and should be inviting. Tree lined streets with forfuture installation Streit Oaugn. DOWNTOWN MERIDIAN CITY CORE STREET CROSS-SECTION MASTER PLAN STREET DESIGN EM EXHIBIT A TO P & Z RESOLUTION 2M2 AEEAST 3RD STREET: Broadway Avenue to Carlton Avenue . (vanlac::sRatu t �/�" �.•.��-��_•E R m a Deem (shad to cedernedyrd F�� ticaa • ^4' aldanito M '. �ka ,.Joed Dife., - .Dmlfe- � 'C� v tE ,� � yetr i � RafmRnd. . Dar a to U3 faiwis dso dRO'Y 17tatiad Ctd Rudivaii a• F 4B4a[Ed War lowl4 - .. . - ._ Ki-"' `-.... .- .tion south of the tracks, and to help improve pedestrian and provide additional opportunities for landscaping and Bro(TvyAwriLi to Carlton Averse connectivitywith urban usesto the west Walkways must additional district thematic elements. CONSIDERATIONS: be detached bylandscape buffers with large canopytree5, IMPLEMENTATION PROCESS: Croas-aerlhe CIA BD Ire1 (PE'Y) 76deet and residential appropriate lighting must be provided to Though East 3rd between Broadway and Carlton Is pre - enhance safety. On-street parking should be provided, Though implementation mayoccurwith fragmented parcel Road tii Two nl dominately residential in nature, it is adjacent to three but angled and perpendicular Configurations are heavily specific redevelopment, It is assumed that Implements Newel pwa,Icl ParaAal different commercial districts including the Northern discouraged to ensure continuity of the pathway and to tion of the pathway will require more concerted efforts Parlinl Cai 63 64 Gateway, Washington & Main, and Traditional City Core reduce back-out Conflicts with through traffic All rede- on behalf of MDC and the City. Interim redevelopment warki At:arLM Ito 54orc Datichri 6-hot nx. districts. While efforts should be made to enhance district velopment must be considerate to and supportive of the enhancements may not require full improvements if the InAii (uataldr) identities, with the proximity to the Commercial districts, residential nature of this corridor segment. City is not able to expand and maintain pathway com- Bdbrpaadd vanes 8loot hnduape Lollar. opportunities exist to blend boundaries for uses supportive ponents, but redevelopment must make allowances for mil. of the overall Destination Downtown vision pi DESCRIPTION Of ULTIMATE CONDITIONS:n future installation Pahaay No Yet, ID-Teetaim (.rat While East 3rd Is not intended to serve as an entryway odd INTENT: corridor, it is lmportantforconnectivityinto thedowmown Bde Sspryrl No Si,rrmas The primary intent of this crossaection and anyvariation is area and should be inviting. The tree lined streets with • prkbg ;o-paur andfWare aalerr vew;axaedemet �md¢ae ;medn to provide fora safeand convenient north-south pathway ample buffers for the detached pathways and sidewalks sorilume. and autratfaR comflh,naahcreu ioaue. 8dra.ara firs to. connection between Carlton and Broadway. The required are all important safety and aesthetic elements for the draoto. and atfercemddana may aeerfiml coant.soa Parking nnlommnder ten-foot detached pathway mustbe onthewest-side ofthe long-term health of the neighborhoods. Bulb outtsshoukl Strait Doti road to maintain alignment with the pathway conBgura- be developed at street corners to further enhance safety DOWNTOWN MFRIDIAN CITY CORE STREET CROSS-SECTION MASTER PIAN STREET DESIGN f I EXHIBIT A TO P & Z RESOLUTION 20-02 I I Broadway Ave BROADWAYAVENUE : Main Street to East 2nd Street -per.. _ psovr,ay0aj ( 7M Do Eosed enAA'to6y V P ilia+ y S Iwt aa+hen edge W P rwAl I2 m � Is P116sa e �► f ,v. Struucapa8a11ar r ParF.ar Ealler � S y F frrniureto h lyyeng �tl. _ i Ct Ewto-gdpe of ROW tart. tT M'pad,a - i ;2tleCaamtt� Amajn ' , Should reflect this, While the ten-foot multi-use pathway alignments across intersections, and to reduce setback MafnStreet to East 7ndSlmd is required on the south-side of the street, it's possible impacts to neighboring properties and buildings. that future pathway connectivity may be integrated with CONSIDERATIONS: IMPLEMENTATION PROCESS: bass-sedianriidlh R8-feef (ROW) 84.5 feat redevelopment, and the pathway a pulled within adja- . Broadway between Main and Fas[ 2M is generally Indus- cent property. Omstreet parking and standard streetscape Curb line changes necessary to be supportive of pedestrian kaod Irorar too eat trial storage on the southern side of the roadway, along to improvements a re required, and must align and Integrate activRkes and al low businesses greater street presence will filling payed ParaAd the railroad tracks, and dominated by older buildings In with improvements to the east and west, likely require improvements to occur for the full length Parhng6oyautyo 31 le disrepair on the northern side. Sidewalk facilities are also In of the block, on one or both sides of the roadway. Unless Eatoried. 1 to 5-he disrepair, and non-existent on the south The streetscape DESCRIPTION Of ULTIMATE CONDITIONS: largescale redevelopment occurs, public partiupation will north udo. aora an Dot aehId. Said IFS) on the north-side of Broadway has been redeveloped on The north-side of this cross-section includes standard be necessary for implementation and play a large role in 1e4t5 :id,. the Corridor segments both to the west and east — only required streetscape improvements, and a wider walkway redevelopment ofthe streetscape, particularly with the Eolfor (msieo) Vint: A-krttrr ,tanla,ds i this segment is lacking improvements. consistentwith othercorridar Improvements to the east. multiuse pathway. With eventual removal of existing angled P26011 Ii3n Yu The south-s'Ids of the street provides the required path- parking, it is expectedthat additional off-street surfaceor EAlsi"ert Nut Noes I INTENT. way connection, but may simply mirror improvements on garage parking will need to be provided elsewhere to offset Future improvements will need to support mixed use the north-side, or 'ust meet streetscape standards if the loss and accommodate future downtown parking needs coarunr , ad as zefulccoo'eesanath enti eamArio not I atanAe9n : P PP 1 P P ay rviu. ;4 ondnmRe NII « IT altea .at cnuafo Paring sutilanhr- : developmen[and balance Ilse pedestrian elrvironment with pathway is Integrated into future development through the Improvements on the north-side of the roadway should dmu. a.d other ronktamau olu: line saual. Sw Paring ndioeunhr I parking provisions. It is expected that future redevelop- southern properties. Parallel parking is provided instead be a focusto compliment Idaho and increase demand for Streotkodgn. ment on both sides of the road will be transit supportive ofangked to enhancesafetyand Create a more pedestrian land to the south. higher density m ixed uses, and the pedestrian ervironment friendly corridor, and to lim it wider cross-sections, maintain ��fl�7f� DOWNTOWN MERIDIn�ITY CORE STREET CROSS-SECTION MASTER PLAN STREET DESIGN EXHIBIT A TO P & Z RESOLUTION 20-02 EXHIBIT 2 -A NOTICE OF HEARING - MERIDIAN PRESS URBAN RENEWAL DISTRICT ORDINANCE - 2M 882 IDAHO PRESS - TRIBUNE EMMETT MERIDIAN KUNA BOISE WKLY C / O ISJ PAYMENT PROCESSING CENTER PO BOX 1570 POCATELLO ID 83204 ( 208 ) 467 - 9251 Fax ( 208 ) 475 - 2321 ORDER CONFIRMATION Salesperson : LEGALS Printed at 04 / 17 / 20 11 : 23 by sje14 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Acct # : 351462 Ad # : 2009284 Status : New CHOLD 1 MERIDIAN , CITY OF Start : 04 / 24 / 2020 Stop : 04 / 24 / 2020 33 E . BROADWAY AVENUE Times Ord : 1 Times Run : * * * MERIDIAN ID 83642 LEG 4 . 00 X 174 . 00 Words : 1515 Total LEG 696 . 00 Class : 0006 GOVERNMENT NOTICES Rate : L4 Cost : 616 . 78 # Affidavits : 1 Contact : MACHELLE HILL Ad Descrpt : PH 6 / 2 / 2020 - URBAN RENEWAL Phone : Given by : ADRIENNE WEATHERLY Fax # : P . O . # : Email : accountspayable@meridiancity Created : sje14 04 / 17 / 20 11 : 10 Agency : Last Changed : sje14 04 / 17 / 20 11 : 21 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - PUB ZONE EDT TP RUN DATES MP A 96 S 04 / 24 AUTHORIZATION I Under this agreement rates are subject to change with 30 days notice . In the event of a cancellation before schedule completion , I understand that the rate charged will be based upon the rate for the number of insertions used . Name ( print or type ) Name ( signature ) ( CONTINUED ON NEXT PAGE ) I i I IDAHO PRESS - TRIBUNE EMMETT MERIDIAN KUNA BOISE WKLY C / O ISJ PAYMENT PROCESSING CENTER PO BOX 1570 POCATELLO ID 83204 ( 208 ) 467 - 9251 Fax ( 208 ) 475 - 2321 ORDER CONFIRMATION ( CONTINUED ) Salesperson : LEGALS Printed at 04 / 17 / 20 11 : 23 by sje14 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - . . . . . . . . . . . . . . - . . . . . . - - . . . . - - - - - - - - - - - Acct # : 351462 Ad # : 2009284 Status : New CHOLD CHOI LEOALNOTICE TNOTICE E NSIIDERTHE V 6PN REYNEWAµLOReH FOR TIME YNI W dsY�UN9AN SEML'rWNFI PS W ECTT Es VZ UR WRIDIW SAN RENEWAL AGENCY OF MERIDIAII, IDARO, ALSO KNOWN "MERIDIAN YEL TN OEOFMEfIT CORPORATION d Jwe P EM0. w RCO av ' Cy f:dmcI Crombas. Wedm cry IMy m E OnaMSEYAaa e, AbAan, MOW q PnTCay cotAlof lFIG WM errs in (taKl ml tmd, wM9bregdu neeEry me3ur¢an Rm for Md UN e Ay¢�tlMor an mano. Nso w+�i uMetaan oevebPrrer¢ mrwr�mon l'Agexy). 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DATETY.APJ. 16, 2021. crosJmmM Cry VcN Apd E446N 2LOaYst NOTICE OF REGULAR MEETING AND PUBLIC HEARING BY THE CRY COUNCIL OF THE CITY OF MERIDIAN, IDAHO TO CONSIDER THE URBAN RENEWAL PLAN FOR THE UNION DISTRICT URBAN RENEWAL PROJECT OF THE URBAN RENEWAL AGENCY OF MERIOhW, IOAHO,ALSO KNOWN AS MERIDIAN DEVELOPMENT CORPORATION NONE IS HEREBY GIVEN that on Tuesday June 3, 1020, at 6.00 on in City Couml Chambers, Meridian City Hall. 33 E. limadxad Avenp hleddArt Idaho the City Cwml of the City of Meriden. Idaho ('Coy') wil hold during Its regular meatus, a pubic hearing a consider for adopton the proposed Urban Renewal Pssn for the Union District Urban Renewal Project (the 'Hai t of the Urban Renewal Agency of Meridlaq Idaho, also kmvn as Meddan Development Corporation ('Agency').The ubn renewal and feroae allocation area handary is hathud c shouted. The Plan proposes that de Agency udeNke urban renevd pf*M Icbdog Identifying public faciides for fun&g, prawam a the Idaho Urban Re ewer law of 1965, Title Ss, Chapter 104 Idaho Code as amended De Han being considered far adopton cmtahu a vNesae allocation Bouncing provision pursuant to the Local Economic Dewlopmsnt As, Tde S0, Chapter 19, Idaho Code as amended, that wa Ouse property taxes resulting henna increase in equalised assessed valiaton in esess of the es,abed assessed volution as shown on the base assessment M as of January 1, 2010, in be allocated to the Agency for when renewal pupmes The Agency has adopted and recommended approval of the Plan. The general scope and cbjectses of the Plan am: a The engireeft design, Imalata, consbuldM andror rttmstrudian of shoes and sheetaapA Including but out inked to npoaements and upgrades to E. Broadway Aveae, H Main Street E. 3nd Street xd E. 3d icons and elated pedeva facTids curb and gene, nteneNon and real crossing Ipronmens and uafk signal; b The engineering &sign, W Water, ccmv (vw, and/or fmonf Wttimn of storm water management Nhxwmee to support compliance with federal,state,and local re9shlatom for S oml water dsewge and to support Fiwaledenbpment c. The englrree'rs, design, Installation, constructiom ard'a reconstruction of utilities (within and outside of the Project Area) hedudkg but not limped to knprovements old upgrades to the water distribution system, water capacity Impoaements water storage upgrade; senor system kmproaaaents and upgrades Brady Interceptor, and imprwemens and upgrades to poor, gas, fiber opHct mmmudeadna W other such faciims. Construction of aides Outside Of the Piojest Area at directly related t0 the growth and development within the Project Arm but mot be sited within the Prefect Area: d RennovA buryig, a relocation of ambead utilities; rennord a relocation of underground uUllles; etmsian of electrical dstrbaon Imo and trarsfofmer; krywement of Mgation and drainage dNrhe W Mara'; wadergrandrg or piling of Lateral; addition of fiber optic Iwo; or other caonxvhkaton yams; publil paling fade A aryl pubic krprwements including but not Bmited to, fire protection systems mada/t I^ States W sveetsapes wW fa purpwes of this Pia, the tear su"Wapas Includes stairwells; fighting wMsaft kndes sIgI Me reds WHk act W strb amvYds between the rob and dghtofway Sw xd other pbic nproswams Including public open spaces that may be deemed appropriate by the Road; e The engmew'rg desigt hstahatIm W'acawhuction of a carmhmiMrweaWn faciy and related pblk IrmownrI L The engrutrng. design, hsNlhlbsxWa construction of a public perking 3h e a structures adroc public surface pkhg lot and related public kmwwemens 9. The prmkbn for pYtdpaton by Property orris and dndopns within de ProfeetArm W addew the ob( d?m of Plat IL The rwegeneot of any popery acquired by and uds the owmwdip W tonmol of N Ageny, L The pwision for rdwton assistance to displaced Project Area occupants xd'or bnkessn as a result of any Agency ad". as may be required by W, J. The dewkprzat or reclawkE wow lad by pd'ae an surprise or pubic agencies for wax n aoodarce with its Man; k. The xgdurioer of real property for pink dgh(of-way krpowemhms Wasulan fac3tl4 a Say undogroundng public parking faoTt u, useable public span, pathways and strewscape knpro mcnts to create dvebpmt o-gaamides asstwInith the Plan Including Most linkedbhrture dspwifion to quafdIeddevehpers ad furge6led dealopnens. kdud'ag xmcank desNapmeot "or other pink entries; I. the demoldon or rerrgnl of certain buildings aster nprovenens for Plink dghsaf way pedestries Iw'Rties MEy ondee9nandn9, public Parking facifies useable public space, pathways W soeetseap npaYmwns to etaurage W eMarsce hansponatbn and mobility "does decrase uderuiiaed pertain, to eliminate urkahblut unsanhay re ureafe conditions, e0minate obsolete or other uses detrimental to the "k "fare or otmwise to remove or to Furrows the spread of deteriorating a deteriorated condm'ons and to promote economic growth and development or redevelopment m The dapositon of real property icough a congetKse process in accordance with this Plat Idaho law including Idaho Cade 1 %20114 and cry dspiltw poldes adopted by the AgerAy; h It. The rehabilitation and adpthe reuse and rryvpoilngofastigstnxwes aid lrwwemms o. The preparation W aumby ofadNeu sites bathe dewloprest adcomwnlon of facilities for mind-use residential, commercial, real areas transit facitie; eNatanal fasSdes and co m oriy W recreation fKAdo; p To the want allowed bylaw, lend or kwed federal or issue fobs To Witate redekdppnent q. IhemhonmenW assessment aid remedatm of economists III does,a dies Mere anWawental mdvocs dethrenW to redevelopment eis; . In collaboration with property owners rd other stalcAlsa s, waking with hie City to amend zoning regulations Of necasay) W standards W gddeirts for the design of strmisape, places pedoulav couldi parks open space W oiler Eke pubic spaces applkahle inthe ProjeaArea as needed to support loom antatmn of this Man; s Agency a dror owner-0evelopv mmmxffW parochpatbn In the comtrudim ad'a management of public parking fadids that support a desked kid and farm ofdrnIwmtawhl etlwtitaTMofdeh*dkea L Iheeanncton Wfinandalagpatofctlseal laci6ks and tlwerhharhlehhentandmrshwionNpark; open spore; W pubkrweatW W latlitles; u. The Provision M fnacle W Who asdsunce to encarap and amid business emuplae including but not limited to stamps W mdaobniess unique culawal businesses mM.siced companies and large-male ceperatore; w to conjunction whh the CAR the atableahment W impiemenation of per{aruame after i to Uwe high Joe design ttWad xd enwonmenW qu0y and ocher design dements which pewide urtry W Integrity a one entire Project key lr h ng cmmNhant of furls for plamNng studies achteang high ssadxds of dew opment W levwaglag sud deselmpnent To adhiew pubic ob(ecbws ad ercdmt use of scarce INouces w. Corr related Improvements a dose set fad above as hither set bid In the Plan,Attachment 5. Any such lard uses as described in the PW ME be in confe maze with seeing far the City of Meddm W Me City ofMMdan i Canhprehendre Plan as adopted by to Crry Coml. lad made awlable will be developed by where enterprises or puck agsdes as anhaired by ssw The Plan Identifies verlovs public W private Improaments which may be made within the PmjMara. The Urban R o rwol AojmtArea and ResmealaationArea hnein referred to Is described as poll An area Iomstrg of apportnatey 16 acres of undadwloped tad W dghtal ar the Oys downtowncone W is generally basndedby EdNDAstnrtadenod, E.TNfd Sveeta hie east a portion of the railroad rigMofvny a In south and HMan Street W the wU% end as owe Paiutlery deacribed in don Plan ad depicted In The MaR bale. __. UNICIYDE5TRILT QIYOFMENDIAk ADA CICI Rln; IDIM E NNE AYE 0 LK P ❑ F sire mcaT 1— ] 5 — ERROAJDWAYAYE . . w Wwcr k !1 HWCN PA< F.V' hWIAOmD T'd �1 X �K gL 574q W 7 Qa Q M ) EFRANkIIN RD �?rA t� � .I, �/� 1030S WA9reaGaOYAYE a WON DISTRICT N tm,Aw gpaDDlErr��y)E)�diba sawn ANNEIATON Es01BUoAv_n F. (MJ3WltOf shine SEC, 7. T.IN, RIE, 8.4. ADA OOt N1Y, IOaiO L>•J.M.y UC, µNW511Y1WTHSCaN aroar m Copksaf hie proposed Plan are on Rio for pink kupecton W c" M@ office ofthe Chy Chid,Meridian Ciy Nat 33 ERmadayaswp Merldi^daba483641 between the hags of B00 oclodam,W 400 o'dod pm, Maly through RidaA esdahhe of holidays, The Plan can else be xcessed ahfira at MgsdNiUYAllbnD'utlkL For add*ml asssta oe In obtaining a coy of the mhem mauedak mmtact the office of the City CIei at 208404433. At the hearing dale that W Eyre noted atom (Aye 1, 2010, at 600 park all psms neexted in the abm maNers may appear W be hard Because Social dstandg orders may be In effect at the BUD of the harm; written Mtirmrry Is ocoumgedYAnm testmmmy most be 9"tudi at kart fen wvdeg doh prism the haring Oral testimony maybe kaed to vkbal (named a tdephak means W my be limited to three mlmdes Par person. Idwmadon on accessing %e meeting remotely W participating In Use venal mmtng can be ours!at Yldn thStidlxiyar8 under the 'ykW Meeting Wamalfmn' tat. yddhtlnal ofomtaton regardag pwideg testimony IncmpOr a Mhh any social dstancig orders In effect may be obuMbyWn910B88 33a emai at DertkARmerkWndxaO. Merkfiah CRy Hall is xce bkapersons MthdaaNE6es All Womedm presented tithe hearing doll also be m IALI upon ada nce Items in a fare usable by Forswear with hearing or vsval npakmms individuals with other disabiin may she assistance by contacting the 0y 14 hours price a the h eas g. DAHMApil 16, 3010. Chris Johanson, Cry Clerk Ptb W do Jahn Mateo Saf esnwh May 1, 1010. EXHIBIT 2 - 11 NOTICE OF HEARING - IDAHO STATESMAN URBAN RENEWAL DISTRICT ORDINANCE - 204 882 ., Idaho Statesmanpv Keeping you connected I IdahoStatesman . com MAY 8 2020 CITY OF C/VrAT,�W' CITY CLERKS OFFICE AFFIDAVIT OF PUBLICATION Account # I Ad N, ber I Idenlificallon PO Amount cos De t 262513 0004629405 ; hearing re Union District Plan - 1 $492,00 3 20.OD In Attention : Adrienne Weatherly AMBAR LIZARRAGA, being duly sworn , deposes and says : That she CITY OF MERIDIAN - LEGAL is the Principal Clerk of The Idaho 33 E BROADWAYAVE SUITE 308 Statesman , a daily newspaper printed MERIDIAN , ID 836422619 and published at Boise, Ada County, State of Idaho, and having a general circulation therein , and which said newspaper has been continuously and uninterruptedly published in said County during a period of twelve consecutive months prior to the first publication of the notice , a copy of which Is attached hereto: that said notice was published In The Idaho Statesman, in conformity with Section 60-108 , Idaho Code, as amended , for: 1 Insertions i Beginning Issue of: 05/01 /2020 C ding issue of: 05/01 /2020 MORROW (Legals Clerk) On this 1st day of May in the year of 2020 before me, a Notary Public, personally appeared before me Ambar Lizarraga known or identified to me to be the person whose name subscribed to the within Instrument, and being by first duly sworn , declared that the statements therein I are true, and acknowledged to me that she executed the same. I I Not Public In and for the state of Meet s , residing in Dallas County It -- i . {•{ I1 LE ;'1 + , 'jr, frYCff,'. ltln.rn/ . 1/ ( Exlrachar eforloslordu y'� • . g plicate affidavits, •-x;-�,'j:�y li`"° Legal document please do not destroy] i i i I NOTICE OF AEGVIAA MEMNO AND PUCUC HFARIHO BY THE CITY COUNON OF THE CITY OF MEMOIAH, IDAHO TO COHNDTA THE UAMN AENEWAL FLAN MATNE UNION DISTRICT URBAN [ENINVALFIt01ECT OITHEV]SAN AFNEWALAG"aW NEA)M IOAHO,A1SOE4OWH AS HENDL$XDEMOFNINT CON09AHON HOME IS III GDEN dal en Twsdrit A+w t HIM At to ", h Cry Cartl Oht<bnt Mali Ot�NY,, ]} E LeNw,yAwteN✓datWb. 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Procedures of the Agency . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 102 Procedures Necessary to Meet State and Local Requirements : Conformance with Idaho Code Sections 50-2008 and SO-2906 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 103 History and Current Conditions of the Area . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 104 Purpose of Activities . . . . 04 % & Ease go be V a 0 0 0 0 0 a 16 0 6 0 4 9 4 0 0 0 0 0 # 1 4 a I * a Do 0 at r a 0 9 0 a be a D 6 be f I safe 00 9 a I a I to 9 1 go 0404 R 4 0 a a 2 a A a 7 200 DESCRIPTION OF PROJECT AREA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 300 PROPOSED REDEVELOPMENT ACTIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 301 General . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 302 Urban Renewal Plan Objectives . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 303 Participation Opportunities and Participation Agreements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 304 Cooperation with Public Bodies . 15 305 Property Acquisition . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 305 . 1 Real Property 16 305 . 2 Personal Property . . . . . . . . . . . . 0 1 0 1 6 a 0 0 0 a 6 0 a 6 1 1 a 1 0 s * 0 * 0 0 a t t a 1 0 q due a 4 0 4 0 4 0 4 118 9 0 1 7 306 Property Management . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 307 Relocation of Persons (Including Individuals and Families), Business Concerns, and Others Displaced by the Project . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 308 Demolition, Clearance and Site Preparation . . . . . * * at # I at * I o4vtootoo to to at due I do lost Ittfoo % as 18 309 Property Disposition and Development . . 9 4 & 0 0 f 9 9 a 4 0 0 4 0 4 a 9 0 8 9 a I DO V * 99 00 at 90 Of W If 0 * 0 V 0 9 4 0 % 49 0 1 04 9 0 * 4 0 a 6 18 309. 1 . Disposition by the Agency . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 309.2 Disposition and Development Agreements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 309 . 3 . Development by the Agency . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 310 Development Plans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 311 Personal Property Disposition. . a 6 a & a * a a a a a a a a a a 0 a a d 0 6 a a I I a a A, 9 6 a 0 a a a a 0 0 a a a 4 a a a a a 0 9 6 9 f b d 1 9 1 1 0 4 P 5 a a 0 6 a I a a a a 04 6 21 312 Participation with Others . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 313 Conforming Owners . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 314 Arts and Cultural Funding . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 400 USES PERMITTED IN THE PROJECT AREA. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 401 Designated Land Uses . . . . . . . 08199009491 qf # flof do 14q * 44901 6 * 9909 Do to do so I * qgvtoovov we a dead evades room 4veace guavas@ 22 402 Public Rights-of--Way . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 403 Other Public, Semi-Public, Institutional , and Nonprofit Uses . . . . . . . . . . . . . . . . . . . . . . . . . . . . 123 404 Interim Uses , . 9 r v 4 0 9 1 4 1 1 a a 0 0 4 0 4 a 1 4 6 4 0 4 0 4 a a 0 4 0 4 4 a 9 0 0 a 0 0 1 a 0 a 0 , . . . . . . . . . . , . . . . . . , . . . . . . . . . . , . . . . . . . . . . . . . . . . , . . . . . , . 23 405 Development in the Project Area Subject to the Plan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 406 Construction Shall Comply with Applicable Federal, State, and Local Laws and Ordinances and Agency Development Standards . . 64 sea 6492 Doofteefool sodded 0940tooda of as # 24 407 Minor Variations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 408 Design for Development under a Disposition and Development Agreement or Owner Participation Agreement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 409 Nonconforming Uses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 I 500 METHODS OF FINANCING THE PROJECT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 501 General Description of the Proposed Financing Methods . . . # * love % 26 502 Revenue Allocation Financing Provisions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 502 . 1 Economic Feasibility Study . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27 502 . 2 Assumptions and Conditions/Economic Feasibility Statement . . . . . . . . . . . . . . . . 28 502 . 3 Ten Percent Limitation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29 502 .4 Financial Limitation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29 502 . 5 Participation with Local Improvement Districts and Business ImprovementDistricts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 502 . 6 Issuance of Debt and Debt Limitation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 502 . 7 Impact on Other Taxing Districts and Levy Rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 503 Lease Revenue, Parking Revenue, and Bonds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33 504 Membership Dues and Support of Community Economic Development . . . . . . . . . . . . 34 600 ACTIONS BY THE CITY AND OTHER PUBLIC ENTITIES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34 601 Maintenance of Public Improvements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35 700 ENFORCEMENT . . . . . to I a ovow9ptro rq to 001 ovo * oj a & 4 & 0 0 a 0 4 b A b a 0 d 0 a p 0 0 10 a & # ft 0 P a # I * a 0 & 9 a 0 6 ff * a 0 9 0 9 * 0 0 0 4 t 4 0 a 0 a 9 0 a 9 0 1 0 0 1 4 0 0 % 4 3 6 800 DURATION OF THIS PLAN, TERMINATION, AND ASSET REVIEW . . . pop 40 36 900 PROCEDURE FOR AMENDMENT OR MODIFICATION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37 1000 SEVERABILITY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38 1100 ANNUAL REPORT AND OTHER REPORTING REQUIREMENTS . . . . . . . . . . . . . . . . . . . . . . . . . . 38 1200 APPENDICES , ATTACHMENTS , E)(HIBITS , TABLES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38 I ii Attachments Attachment 1 Boundary Map of Union District Urban Renewal Project Area and Revenue Allocation Area Attachment 2 Legal Description of Union District Urban Renewal Project Area and Revenue Allocation Area Attachment 3 Properties Which May be Acquired by the Agency G Attachment 4 Map Depicting Expected Land Uses and Current Zoning Map of the fProject Area Attachment 5 Economic Feasibility Study f I I lIl i I 100 INTRODUCTION This is the Urban Renewal Plan (the "Plan") for the Union District Urban Renewal Project (the "Project") in the city of Meridian (the "City"), county of Ada, state of Idaho . Attachments 1 through 5 attached hereto (collectively, the "Plan Attachments") are incorporated herein and shall be considered a part of this Plan . The term "Project" is used herein to describe the overall activities defined in this Plan and conforms to the statutory definition of an urban renewal project. Reference is specifically made to Idaho Code § § 50-2018 ( 10) and 50-2903 ( 13 ) for the various activities contemplated by the term "Project . " Such activities include both private and public development of property within the urban renewal area . The term "Project" is not meant to refer to a specific activity or development scheme. The Union District Project Area is also referred to as the "Project Area." This Plan was prepared by the Board of Commissioners (the "Agency Board") of the Meridian Urban Renewal Agency, also known as Meridian Development Corporation (the "Agency") , its consultants and staff and reviewed and recommended b the Agency pursuant to Y g y the Idaho Urban Renewal Law of 1965 , Chapter 20 , Title 50, Idaho Code, as amended (the "Law"), the Local Economic Development Act, Chapter 29 , Title 50, Idaho Code, as amended (the "Act") , and all applicable local laws and ordinances . Idaho Code § 50-2905 identifies what information the Plan must include with specificity as follows : ( 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 on the revenue allocation area, (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 j section 50-2903 (20), Idaho Code. In determining the termination date, the plan j shall recognize that the agency shall receive allocation of revenues in the calendar 1 I I I i year following the last year of the revenue allocation provision described in the y y urban renewal plan ; and (8) A description of the disposition or retention of any assets of the agency upon the termination date. Provided however, nothing herein shall prevent the agency from retaining assets or revenues generated from such assets as long as the agency shall have resources other than revenue allocation funds to operate and manage such assets . This Plan includes the above information with specificity. The proposed redevelopment of the Project Area as described in this Plan conforms to the City of Meridian Comprehensive Plan (the "Comprehensive Plan") , adopted by the Meridian City Council (the "City Council ") on December 17, 2019 ) by Resolution No . 19 ,2179 , The Agency intends to rely heavily on the City' s applicable zoning and design standards . This Plan is subject to the Plan modification limitations and reporting requirements set forth in Idaho Code § 50-2903A. Subject to limited exceptions as set forth in Idaho Code § 50-2903A, if this Plan is modified by City. Council ordinance, then the base value for the year immediately following the year in which modification occurs shall include the current year ' s equalized assessed value of the taxable property in the revenue allocation area , effectively eliminating the Agency ' s revenue stream , Should the Agency have any outstanding financial obligations, the City shall not adopt an ordinance modifying this Plan unless modification is deemed to have not occurred as provided in Idaho Code § 50- 2903A(1 ) (a) (1)-(iv) and written consent has been obtained by any creditors, including but not limited to lending institutions and developers who have entered into reimbursement agreements with the Agency . A modification shall not be deemed to occur when " [t] here is a plan amendment to support growth of an existing commercial or industrial project in an existing revenue allocation area . . . . Idaho Code § 50�2903A(1 ) (a) ft). The proposed development of the Project Area is primarily a commercial and/or industrial project. Any adjustment to the list of improvements and/or revenue stream to support growth of the proposed commercial and/or industrial project is not a modification under Idaho Code § 50m2903A . Further, a modification shall not be deemed to occur when 11 [t] here is a plan amendment to make technical or ministerial changes to a plan that does not involve an increase in the use of revenues allocated to the agency. " Idaho Code § 50-2903A (1)(a)(i) . Annual adjustments as more specifically set forth in the Agency ' s annual budget will be required to account for more/less estimated revenue and prioritization of projects. Any adjustments for these stated purposes are technical and ministerial and are not modifications under Idaho Code § 50-2903A. This Plan provides the Agency with powers, duties , and obligations to implement and further the program generally formulated in this Plan for the redevelopment, rehabilitation, and 2 revitalization of the area within the boundaries of the Project Area. The Agency retains all powers allowed by the Law and Act . This Plan presents a process and a basic framework within which plan implementation, including contracts, agreements and ancillary documents will be presented and by which tools are provided to the Agency to fashion , develop, and proceed with plan implementation . The Plan has balanced the need for flexibility over the twenty (20)-year timeframe of the Plan to implement the improvements identified in Attachment 5 , with the need for specificity as required by Idaho Code § 50 -2905 . The Plan narrative addresses the required elements of plan set forth in Idaho Code § 50-2905 ( 1 ) , (5) , (7) and (8) . Attachment 5 , together ! with the Plan narrative, meets the specificity requirement for the required plan elements set forth in Idaho Code § 50 "2905 (2)-(6) , recognizing that actual Agency expenditures are prioritized each fiscal year during the required annual budgeting process . Allowed projects are those activities which comply with the Law and the Act and meet the overall objectives of this Plan . The public-private relationship is crucial in the successful development and redevelopment of the Project Area. Typically, the public will fund enhanced f public improvements like utilities , streets, and sidewalks which , in turn , establish the necessary infrastructure to support adjacent private investment, which in this case includes industrial and commercial facilities . The purposes of the Law and Act will be attained through , and the major goals of this Plan, are : i a. The installation and construction of public improvements, improvements to existing roadways and intersections, including the installation of traffic signals ; installation of curbs , gutters and streetscapes, which for purposes of this Plan, the term "streetseapes" includes sidewalks, lighting, landscaping, benches, bike racks , public art and similar amenities between the curb and right of way line; installation and/or improvements to fiber optic facilities ; improvements to public utilities including water and sewer improvements , and fire protection systems ; removal , burying, or relocation of overhead utilities ; extension of electrical distribution lines and transformers ; improvement of irrigation and drainage ditches and laterals ; and improvement of storm drainage facilities; b . The planning, design and construction of a community center, useable public gathering space and a public structured parking facility or facilities ; c . The planning, design and construction of a private development multi-purpose commercial and residential facility, and a public surface parking lot; d . The replanning, redesign , and development of undeveloped or underdeveloped areas which are stagnant or improperly utilized because of unusual conditions of title, underserved utilities , and other site conditions ; 3 e. The strengthening of the economic base of the Project Area and the community by the installation of needed public improvements to stimulate new private development providing employment and economic growth; f The provision of adequate land for open space, street rights-of-way and pedestrian rights-of4ay, including pathways ; g. The reconstruction and improvement of street corridors to allow traffic flows to move through the Project Area along with the accompanying utility connections, through the Project Area; h . The provision of public service utilities, which are necessary to the development of the Project Area, such as water system improvements , sewer system improvements and improvements to storm drainage facilities ; L In conjunction with the City, the establishment and implementation of performance criteria to assure high site design standards and environmental quality and other design elements which provide unity and integrity to the entire Project Area, including commitment of fiinds for planning studies, achieving high standards of development, and leveraging such development to achieve public f objectives and efficient use of scarce resources ; j . The strengthening of the tax base by encouraging private development, thus increasing the assessed valuation of properties within the Project Area as a whole and benefiting the various taxing districts in which the urban renewal area is located ; and ke The funding of necessary public infrastructure to accommodate both public and private development. 101 General Procedures of the Agency The Agency is a public body, corporate and politic, as defined and described under the Law and the Act. The Agency is also governed by its bylaws as authorized by the Law and adopted by the Agency . Under the Law, the Agency is governed by the Idaho open meeting law, the Public Records Act and the Ethics in Government Act of 2015 , Chapters 1 , 2 and 4 of Title 74, Idaho Code; reporting requirements pursuant to Idaho Code 6745013, 67450E, 50-2903A and 50-2913 ; and the competitive bidding requirements under Chapter 28 , TitIe 67, Idaho Code , as well as other procurement or other public improvement delivery methods , i Subject to limited exceptions , the Agency shall conduct all meetings in open session and allow meaningful public input as mandated by the issue considered or by any statutory or regulatory provision. 4 The Agency may adopt separate policy statements . Any modification to any policy statement is a technical or ministerial adjustment and is not a modification to this Plan under Idaho Code § 50-2903A. 102 Procedures Necessary to Meet State and Local Requirements : Conformance with Idaho Code Sections 50m2008 and 50-2906 Idaho law requires that the City Council, by resolution, must determine a geographic area be a deteriorated area or a deteriorating area, or a combination thereof, and designate such area as appropriate for an urban renewal project prior to preparation of an urban renewal plan . A consultant was retained to study a proposed project area and prepare an eligibility report. The area studied was originally reviewed for eligibility in 2001 , and was deannexed from the boundaries of the existing Meridian Revitalization Plan Urban Renewal Project, adopted by City Council Ordinance No . 02-987 , on December 3 , 2002 (the "Downtown District Plan "), by the First Amendment to the Downtown District Plan, adopted by City Council Ordinance No. on 2020 . The eligibility report was submitted to the Agency . The Agency accepted the eligibility report by Agency Resolution No . 20-003 on February 26, 2020 , and thereafter submitted the eligibility report to the City Council for its consideration . The area studied was deemed by the City Council to be a deteriorating area and/or a deteriorated area and therefore eligible for an -urban renewal project by adoption of Resolution No . 20-2188 on March 10, 2020 . With the adoption of Resolution No . 20-2188, the City Council authorized the preparation of an urban renewal plan. The Plan was prepared and submitted to the Agency for its review and approval . The Agency approved the Plan by the adoption of Agency Resolution No. on 2020 , and submitted the Plan to the City Council with its recommendation for adoption . In accordance with the Law, this Plan was submitted to the Planning and Zoning Commission of the City . After consideration of the Plan., the Commission, by resolution, reported to the City Council that this Plan is in conformity with the City ' s Comprehensive Plan . Pursuant to the Law and Act, the City Council having published due notice thereof, a public hearing was held on this Plan. Notice of the hearing was published in the Meridian Press , a newspaper having general circulation in the City. The City Council adopted this Plan on r �], 2020 , by Ordinance No . [ . 103 History and Current Conditions of the Area The Project Area is geographically discrete and contains approximately 16 acres of underdeveloped land and right- of--way near the City ' s downtown core and is generally bounded by E . Idaho Avenue to the north, E . Third Street to the east, a portion of the railroad right-of-way 5 i i to the south and N . Main Street to the west . The Project Area is zoned Old Town (OT), which is intended to encourage a "centralized activity center and to encourage its renewal, revitalization and growth as the public, quasi-public, cultural, financial and recreational center of the City. Public and quasi-public uses integrated with general business, and medium high to high density residential is encouraged to provide the appropriate mix and intensity of activities necessary to establish a truly urban City center. " Currently, a significant portion of the Project Area is under the ownership of public entities and older commercial buildings on the northerly end of the Project Area have been converted to public use as adjunct library space and an interim community center. This portion of the Project Area also includes a small, City park. The southerly end of the Project Area is occupied by older dilapidated structures located on large parcels and previously used for the sale and storage of building materials . This area also includes a portion of railroad right-of way. The Project Area includes a total of fifteen ( 15) tax parcels . Despite the increasing development in the City, the Project Area has remained virtually unchanged over the last nineteen ( 19) years and does not reflect the vision for the area provided in City planning documents . While generally the roadways surrounding the block north of E. Broadway Avenue have been improved to current City standards with curbs , gutters, street lighting and storm drainage facilities, the area south of E. Broadway Avenue requires further investment in the public improvements . A portion of the south side of E . Broadway Avenue remains unimproved as does the east side of E . 3rd Street. The west side of E. 3Yd Street south of E. Broadway Avenue has curb and gutters in place with an adjacent narrow sidewalk, which is interrupted by several unused curb cuts . The sidewalk appears unmaintained and is of insufficient width to accommodate the high- density activity envisioned in City planning documents . Improvements to the pedestrian facilities will serve the increased number of pedestrians anticipated in the Project Area and will help with connectivity. While water lines serve the Project Area, the water line located on the south side of the railroad property does not extend the fiill length of the property and therefore is not looped into the Main Street line . Further, the water main located in E . 3Yd Street will likely need to be upsized to a 12" main to serve the Project Area. These deficiencies are critical and require remediation to support the necessary fire flows required for increased density in the Project Area. A significant impediment to development has been the railroad parcels with attendant title issues . Multiple attempts at conveyance and development have occurred over the last several decades; however, the unusual conditions of title have likely stalled development, resulting in vacant, underutilized parcels . The E. 3rd Street railroad crossing is currently protected only by stop signs . With increased density, additional protections at the crossing may be needed as the rail line is active and serves as the primary transit corridor for freight movements from Boise and Meridian to the railroad mainline connection in Nampa. Finally, the Project Area includes a portion of an open ditch lateral, the Hunter Lateral , which crosses E. 3rd Street near the intersection with Broadway. As the lateral turns north across 6 E . Broadway Avenue, the lateral is piped and undergrounded. The open ditch in this area creates safety concerns for pedestrians . The Plan proposes improvements to public infrastructure and other publicly- owned assets throughout the Project Area, creating the framework for the development of a mixed-use, retail , office, residential project, including the development of a community/recreation center, as well as other public facilities and improvements, including but not limited to streets, streetscapes , water and sewer improvements, environmental and floodplain remediation/site preparation, public parking, other community facilities, parks , and pedestrian/bike paths and trails . The Project Area is underdeveloped and is not being used to its highest and best use due to the presence of a substantial number of deteriorating structures, deterioration of site, age and obsolescence, a predominance of defective or inadequate street layout, faulty lot layout in relation to size, adequacy, accessibility orusefiulness , insanitary or unsafe conditions , and defective or unusual conditions of title . The foregoing conditions have resulted in economic underdevelopment of the area and has arrested or impaired growth in the Project Area . The preparation and approval of an urban renewal plan, including a revenue allocation financing provision, gives the City additional resources to solve the public infrastructure problems in this area. Revenue allocation financing should help to improve the situation. In effect, property taxes generated by new developments within the area may be used by the Agency to finance a variety of needed public improvements and facilities . Finally, some of the new developments may also generate new jobs in. the community that would, in turn, benefit area residents . It is unlikely individual developers will take on the prohibitive costs of constructing the necessary infrastructure in the Project Area without the ability of revenue allocation to help offset at least some of these costs . But for urban renewal and revenue allocation financing the proposed commercial and community developments and related public improvements would not occur. 104 Purpose of Activities Attachment 5 includes identification of the proposed public improvements necessary for the contemplated development in the Project Area with specificity. The description of activities , public improvements, and the estimated costs of those items are intended to create an outside limit of the Agency ' s activity . Due to the inherent difficulty in projecting future levy rates, future taxable value, and the future costs of construction, the Agency reserves the right to : a. Change funding amounts from one Project to another b . To re- prioritize the Projects described in this Plan and the Plan Attachments c. Retain flexibility in funding the various activities in order to best meet the Plan and the needs of the Project Area . d . Retain flexibility in determining whether to use the Agency' s funds or funds generated by other sources. 7 i e . Alter the location of proposed improvements set forth in Attachment 5 to support development when it occurs . The information included in Attachment 5 presents realistic alternative development scenarios recognizing it is difficult to project with any certainty where the improvements will be sited until any future projects submit plans to the City for design review and permitting. The Agency uitends to discuss and negotiate with any owner or developer of the parcels within the Project Area seeking Agency assistance during the duration of the Plan and Project Area. During such negotiation, the Agency will determine, on an individual basis, the eligibility of the activities sought for Agency funding, the amount the Agency may fund by way of percentage or other criteria including the need for such assistance . The Agency will also take into account the amount of revenue allocation proceeds estimated to be generated flom the developer' s activities . The Agency also reserves the right to establish by way of policy, its funding percentage or participation , which would apply to all developers and owners and may prioritize certain projects or types of projects . Throughout this Plan, there are references to Agency activities, Agency funding, and the acquisition, development, and contribution of public improvements . Such references do not necessarily constitute a full, final, and formal commitment by the Agency but, rather, grant to the Agency the discretion to participate as stated subject to achieving the objectives of this Plan and provided such activity is deemed eligible under the Law and the Act. The activities listed in Attachment 5 will be determined or prioritized as the overall Project Area develops and through the annual budget setting process . The activities listed in Attachment 5 are also prioritized by way of importance to the Agency by the amounts funded, and by year of finding, with earlier years reflecting the more important activities, achievement of higher objectives, long term goals , and commitments . The projected timing of funding is primarily a function of market conditions and the availability of financial resources but is also strategic, considering the timing of private development partnership opportunities and the ability of certain strategic activities to stimulate development at given points in time within the planned 20-year period of the urban renewal district and revenue allocation area. The Study (Attachment 5 ) has described a list of prioritized public improvements and other related activities with an estimated cost in 2020 dollars of approximately $ 15 ,040,000 .00 for improvements related to construction of a community center, public open spaces, construction of a public parking structure or structures and/or public surface parking facilities , and public improvements related to private development of mixed -use commercial , office, and residential buildings . This amount does not take into account inflationary factors, such as increasing construction costs, which would 'increase that figure depending on when the owner, developer and/or Agency is able to develop , construct or initiate those activities . The Study has concluded the capacity of revenue allocation funds through the term of the Plan based on the assumed development projects and assessed value increases will likely generate an estimated $ 16, 286,437 . 00 . Subject to the City' s annual budgeting requirements and the availability of fiends , the City may contribute to the construction of the community facility in the amount of 8 i I I $ 3 , 000, 000 . 00 . The Agency reserves the discretion and flexibility to use revenue allocation proceeds in excess of the amounts predicted in the event higher increases in assessed values occur during the term of the Plan for the improvements and activities identified. Additionally, the Agency reserves the discretion and flexibility to use other sources of funds unrelated to revenue allocation to assist in the funding of the improvements and activities identified . 200 DESCRIPTION OF PROJECT AREA The boundaries of the Project Area and the Revenue Allocation Area are shown on the Project Area and Revenue Allocation Boundary Map, attached hereto as Attachment I and incorporated herein by reference, and are described in the Legal Description of the Project Area and Revenue Allocation Area, attached hereto as Attachment 2 and incorporated herein by reference. For purposes of boundary descriptions and the use of proceeds for payment of improvements, the boundary shall be deemed to extend to the outer boundary of rights-of--way or other natural boundary unless otherwise stated. 300 PROPOSED REDEVELOPMENT ACTIONS 301 General The Agency proposes to eliminate and prevent the spread of deteriorating conditions and deterioration in the Project Area by employing a strategy to improve and develop public and private lands, and to grow the economy in the Project Area. Implementation of the strategy includes , but is not limited to the following actions : a. The engineering, design , installation, construction, and/or reconstruction of streets and streetscapes, including but not limited to improvements and upgrades to E. Broadway Avenue, N. Main Street, E. 2Id Street, and E . 3 `d Street and related pedestrian facilities , curb and gutter, intersection and rail crossing improvements , and traffic signals ; b . The engineering , design , installation , construction , and/or reconstruction of storm water management infrastructure to support compliance with federal , state, and Plocal regulations for storem water discharge and to support private development; c . The engineering, design , installation, construction, and/or reconstruction of 4 utilities (within and outside of the Project Area) including but not limited to improvements and upgrades to the water distribution system, water capacity improvements , water storage upgrades, sewer system improvements and j upgrades , gravity interceptor, and improvements, and upgrades to power, gas fiber optics , communications and other such facilities . Construction of utilities outside of the Project Area are directly related to the growth and development i within the Project Area, but cannot be sited within the Project Area; 9 II N d. Removal, burying, or relocation of overhead utilities; removal or relocation of underground utilities ; extension of electrical distribution lines and transformers; improvement of irrigation and drainage ditches and laterals ; undergrounding or piping of laterals ; addition of fiber optic lines or other communication systems ; public parking facilities , and other public improvements, including but not limited to , fire protection systems, roadways, curbs, gutters , and streetscapes , which for purposes of this Plan, the term streetscapes includes sidewalks, lighting, landscaping, benches, signage, bike racks, public art, and similar amenities between the curb and right-of way line; and other public improvements , including public open spaces that may be deemed appropriate by the Board; e . The engineering, design, installation , and/or construction of a community/recreation facility, and related public improvements ; f-. The engineering, design, installation, and/or construction of a public parking structure or structures and/or public surface parking lot and related public improvements ; g. The provision for participation by property owners and developers within the Project Area to achieve the objectives of this Plan ; h , The management of any property acquired by and under the ownership and control of the Agency, i. The provision for relocation assistance to displaced Project Area occupants and/or businesses as a result of any Agency activity, as may be required by law; j . The development or redevelopment of land by private enterprise or public agencies for uses in accordance with this Plan; lc. The acquisition of real property for public right- of way improvements , pedestrian facilities, utility undergrounding, public parking facilities, useable public space, pathways, and streetscape improvements to create development opportunities consistent with the Plan, including but not limited to fixture disposition to qualified developers and for qualified developments , including economic development, and/or other public entities ; 1 . The demolition or removal of certain buildings and/or improvements for public rights-of way, pedestrian facilities, utility undergrounding, public parking facilities, useable public space, pathways and streetscape improvements to encourage and enhance transportation and mobility options, decrease underutilized parcels, to eliminate unhealthful , unsanitary, or unsafe conditions, eliminate obsolete or other uses detrimental to the public welfare or otherwise to remove or to prevent the spread of deteriorating or deteriorated conditions and to promote economic growth and development or redevelopment; 10 m. The disposition of real property through a competitive process in accordance with this Plan, Idaho law, including Idaho Code § 5M011 , and any disposition policies adopted by the Agency; n. The rehabilitation and adaptive reuse and repurposing of existing structures and improvements ; o . The preparation and assembly of adequate sites for the development and construction of facilities for mixed-use, residential , commercial , retail areas, transit facilities, educational facilities and community and recreation facilities ; p . To the extent allowed by law, lend or invest federal or state funds to facilitate redevelopment; q. The environmental assessment and remediation of brownfield sites, or sites where environmental conditions detrimental to redevelopment exist; r. In collaboration with property owners and other stakeholders , working with the City to amend zoning regulations (if necessary) and standards and guidelines for the design of streetscape, plazas , pedestrian corridors, parks, open space and other like public spaces applicable to the Project Area as needed to support implementation of this Plan ; s . Agency and/or owner-developer construction, participation in the construction and/or management of public parking facilities that support a desired level and form of development to enhance the vitality of the Project Area, t. The construction and financial support of cultural facilities and the enhancement and construction of parks, open spaces, and public recreational facilities ; u. The provision of financial and other assistance to encourage and attract business enterprise including but not limited to start-ups and microbusiness, unique cultural businesses , mid-sized companies, and large-scale corporations ; v. In conjunction with the City, the establishment and implementation of performance criteria to assure high site design standards and environmental quality and other design elements which provide unity and integrity to the entire Project Area, including commitment of funds for planning studies, achieving high standards of development, and leveraging such development to achieve public objectives and efficient use of scarce resources . I w. Other related improvements to those set forth above as further set forth in Attachment 5 . I1 In the accomplishment of these purposes and activities and in the implementation and furtherance of this Plan, the Agency is authorized to use all the powers provided in this Plan and as permitted by the Law and the Act . 302 Urban Renewal Plan Objectives Urban renewal activity is necessary in the Project Area to combat problems of physical deterioration or deteriorating conditions . As set forth in greater detail in Section 103 , the Project Area has a history of stagnant growth and development compared to the greater downtown area of the City based on deteriorated or deteriorating conditions that have arrested or impaired growth in the Project Area primarily attributed to : underdeveloped properties ; inadequate pedestrian and bicycle connectivity and mobility; the presence of a substantial number of deteriorating structures ; deterioration of site ; age and obsolescence; a predominance of defective or inadequate street layout; faulty lot layout in relation to size, adequacy, accessibility or usefitlness ; unsanitary or unsafe conditions; and defective or very unusual conditions of title . The Plan for the Project Area is a proposal to work in partnership with public and private entities to improve, develop, and grow the economy within the Project Area by the implementation of a strategy and program set forth in Section 301 . The provisions of this Plan are applicable to all public and private property in the Project Area. The provisions of the Plan shall be interpreted and applied as objectives and goals, recognizing the need for flexibility in interpretation and implementation, while at the same time not in any way abdicating the rights and privileges of the property owners which are vested in the present and future zoning classifications of the properties . All development under an owner participation agreement shall conform to those standards specified in Section 303 of this Plan . It is recognized that the Ada County Highway District has exclusive jurisdiction over all public street rights-of--way within the Project Area, except for state highways . Nothing in this Plan shall be construed to alter the powers of the Ada County Highway District pursuant to Title 40, Idaho Code. This Plan must be practical in order to succeed. Particular attention has been paid to how it can be implemented, given the changing nature of market conditions . Transforming the Project Area into a vital , thriving part of the community requires a proactive strategy . The following represents the key elements of that effort; a. Initiate simultaneous projects designed to revitalize the Project Area. From street and utility improvements to significant new public or private development, the Agency plays a key role in creating the necessary momentum to get and keep things going. b . Develop new mixed-use residential, commercial , and retail areas including the development of a community and recreation facility, as well as encourage other economic development opportunities . 12 c . Secure and improve certain public open space in critical areas . d , Initiate projects designed to encourage affordable and workforce housing options and increased transportation and mobility options , Without direct public intervention, the Project Area has and could conceivably remain unchanged and in a deteriorated and/or deteriorating condition for the next twenty (20) years . The Plan creates the necessary flexible framework for the Project Area to support the City ' s economic development while complying with the "specificity" requirement set forth in Idaho Code § 50- 2905 . Land use in the Project Area may be modified to the extent that the existing brownfields , and underutilized, underdeveloped, deteriorated, deteriorating and vacant land, and land now devoted to scattered inconsistent uses may be converted to a mixed-use, commercial , retail, and residential area, including a community recreation facility, public open spaces, and a public parking structure and/or a public surface parking lot. Tn implementing the activities described in this Plan, the Agency shall give due consideration to the provision of adequate park, open space and community and recreational areas and facilities that may be desirable for neighborhood improvement, with special consideration for the health, safety, and welfare of residents in the general vicinity of the Project Area covered by the Plan, recognizing the mixed-use nature of the Project Area, 303 Participation Opportunities and Participation Agreements The Agency may enter into various development participation agreements with any existing or future owners of property in the Project Area, in the event such a property owner seeks and/or receives assistance from the Agency in the development and/or redevelopment of the property. The term "participation agreement" is intended to include all participation agreements with a property owner, including reimbursement agreements, grant agreements, disposition and development agreements or owner participation agreements. Tn that event, the Agency may allow for an existing or future owner of property to remove the property and/or structure from future Agency acquisition subject to entering into an owner participation agreement. It is anticipated the Agency will enter into an owner participation agreement with the current owner/developer of property within the Project Area and/or its related entities . The Agency may also enter into owner participation agreements with other future owners and developers within the Project Area throughout the duration of this Plan in order to implement the infrastructure improvements set forth in this Plan. Each structure and building in the Project Area to be rehabilitated or to be constructed as a condition of the owner participation agreement between the Agency and the owner pursuant to this Plan will be considered to be satisfactorily rehabilitated and constructed pursuant to the requirements of the Law and Act, if the rehabilitated or new structure meets the standards set forth in an executed owner participation agreement and complies with the applicable provisions of this Plan , local codes and ordinances and the Tdaho Code. 13 it All owner participation agreements will address development timing, justification and efi ibillty of nrolect costs, and achievement of the obieetives of the Plan. The Agency shall retain its discretion in the funding level of its participation . Obligations under owner participation agreements shall terminate no later than the termination date of this Plan— December 31 , 2040 . The Agency shall retain its discretion to negotiate an earlier date to accomplish all obligations under any owner participation agreement. In al l owner participation agreements, participants who retain real property shall be required to join in the recordation of such documents as may be necessary to make the provisions of this Plan applicable to their properties. Whether or not a participant enters into an owner participation agreement with the Agency, the provisions of this Plan are applicable to all public and private property in the Project Area. Tn the event a participant under an owner participation agreement fails or refuses to rehabilitate, develop , use, and maintain its real property pursuant to this Plan and an owner participation agreement, the real property or any interest therein may be acquired by the Agency in accordance with Section 305 . 1 of this Plan and sold or leased for rehabilitation or development in accordance with this Plan . Owner participation agreements may be used to implement the following objectives : • Encouraging property owners to revitalize and/or remediate deteriorated areas or deteriorating areas of their parcels to accelerate development in the Project Area. Subject to the limitations of the Law and the Act, providing incentives to property owners to encourage utilization and expansion of existing permitted uses during the transition period to prevent a decline in the employment base and a proliferation of vacant and deteriorated parcels in the Project Area during the extended development and/or redevelopment of the Project Area. • To accommodate improvements and expansions allowed by City regulations and generally consistent with this Plan for the Project Area. • Subject to the limitations of the Law and Act, providing incentives to improve nonconforming properties so they implement the design guidelines contained in this Plan to the extent possible and to encourage an orderly transition from nonconforming to conforming uses through the term of the Plan. • Provide for advance funding by the developer/owner participant of those certain public improvements related to or needed for the private development and related to the construction and certain public improvements related to the community/recreation facility, public open spaces, and public parking structures ! and/or surface lots . In that event, the Agency will agree as set out in the owner participation agreement to reimburse a portion of, or all of, the costs of public I 14 improvements identified in the participation agreement from the revenue allocation generated by the private development . 304 Cooperation with Public Bodies Certain public bodies are authorized by state Iaw to aid and cooperate, with or without consideration, in the planning, undertaking, construction, or operation of this Project. The Agency shall seek the aid and cooperation of such public bodies and shall attempt to coordinate this Plan with the activities of such public bodies in order to accomplish the purposes of redevelopment and the highest public good . The Agency, by law, is not authorized to acquire real property owned by public bodies without the consent of such public bodies . The Agency will seek the cooperation of all public bodies which own or intend to acquire property in the Project Area. All plans for development of property in the Project Area by a public body shall be subject to Agency approval, in the event the Agency is providing any financial assistance. Subject to applicable authority, the Agency may impose on all public bodies the planning and design controls contained in this Plan to ensure that present uses and any future development by public bodies will conform to the requirements of this Plan ; provided, however, the Ada County Highway District has exclusive jurisdiction over Ada County Highway District streets . The Agency is authorized to financially (and otherwise) assist any public entity in the cost of public land , buildings, facilities, structures , or other improvements of the Project Area as allowed by the Law and Act. The Agency intends to cooperate to the extent allowable with the City and ACT41), as the case may be, for the engineering, design, installation, construction, and/or reconstruction of public infi•astructure improvements , including, but not limited to water, sewer, storm drainage, electrical, natural gas, telecommunication, or other similar systems and lines, streets, roads, curbs , gutters , sidewalks, walkways , public parking facilities and a community/recreation facility. The Agency shall also cooperate with the City and ACHD on various relocation, screening, or underground projects and the providing of fiber optic capability. To the extent any public entity, including the City, has fiinded certain improvements such as roadway improvements , pedestrian facilities , water and sewer facilities or storm drainage improvements , the Agency may reimburse those entities for those expenses . The Agency also intends to cooperate and seek available assistance from state, federal and other sources for economic development. In the event the Agency is participating in the public development by way of financial incentive or otherwise, the public body shall enter into an agreement with the Agency and then shall be bound by the Plan and other land use elements and shall take into consideration those standards specified in Section 303 of this Plan . This Plan does not financially bind or obligate the Agency to any project or property acquisition; rather, for purposes of determining the economic feasibility of the Plan certain 15 projects and expenditures have been estimated and included in the analysis . Agency revenue and the ability to fund reimbursement of eligible Project Costs is more specifically detailed in any owner participation agreement and in the annual budget adopted by the Agency Board, 305 Property .Acquisition 305 . 1 Real Property Only as specifically authorized herein, the Agency may acquire, through the voluntary measures described below, but is not required to acquire, any real property located in the Project Area where it is determined that the property is needed for construction of public improvements, required to eliminate or mitigate the deteriorated or deteriorating conditions, to facilitate economic development, including acquisition of real property intended for disposition to qualified developers through a competitive process, and as otherwise allowed by law. The acquisition shall be by any means authorized by law, including, but not limited to, the Law, the Act, and the Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970 , as amended, but shall not include the right to invoke eminent domain authority except as authorized by Idaho law and provided herein . The Agency is authorized to acquire either the entire fee or any other interest in real property less than a fee, including structures and fixtures upon the real property, without acquiring the land upon which those structures and fixtures are located. The Agency intends to acquire any real property through voluntary or consensual gift, devise, exchange, or purchase. Such acquisition of property may be for the development of the public improvements identified in this Plan . Acquisition of property may be for the assembly of properties for redevelopment to achieve Plan goals including public benefits . Such properties may include properties owned by private parties or public entities . This Plan anticipates the Agency ' s use of its resources for property acquisition . In the event the Agency identifies certain property which should be acquired to develop certain public improvements intended to be constructed under the provisions of this Plan , the Agency shall coordinate such property acquisition with any other public entity (e. g . , without limitation, the City, the state of Idaho, or any of its authorized agencies), including the assistance of Agency hinds to acquire said property either through a voluntary acquisition or the invocation of eminent domain authority as limited by Idaho Code § 7-701A. The Agency is authorized by this Plan and Idaho Code § § 50- 2010 and 50-2018 (12) to acquire the properties identified in Attachment 3 hereto for the purposes set forth in this Plan. The Agency has identified its intent to acquire and/or participate in the development of certain public improvements, including, but not limited to streets, streetscapes , lighting, water and sewer improvements, improvements to the lateral, drainage facilities , intersection improvements , including the installation of traffic signals and/or rail crossings , parking, parks and open space, multi-use paths and trails , power and gas improvements and/or relocations, and other related public infrastructure improvements , such as a community recreation facility and public structured parking facility and/or surface lots . Further, the Agency may acquire real property to 16 facilitate commercial development by assembling and disposing of developable parcels. The Agency' s property acquisition will result in remediating deteriorating conditions in the Project Area by facilitating the development of a mixed-use, office, residential, commercial, and retail area, as well as a community recreation facility and public structured parking and/or surface lots . The public improvements are intended to be dedicated to the City upon completion . The Agency reserves the right to determine which properties identified , if any, should be acquired . It is in the public interest and is necessary, in order to eliminate the conditions requiring development and/or redevelopment and in order to execute this Plan, for the power of eminent domain to be employed by the Agency to acquire real property in the Project Area for the public improvements identified in this Plan, which cannot be acquired by gift, devise , exchange, purchase, or any other lawful method , subject to the limitations set forth in Idaho Code § 7- 701A . Under the provisions of the Act, the urban renewal plan "shall be sufficiently complete to indicate such land acquisition , demolition , and removal of structures , redevelopment, improvements , and rehabilitation as may be proposed to be carried out in the urban renewal area. " Idaho Code § 50-2018 ( 12 ) . The Agency has generally described those properties by use as set out in Attachment 3 for acquisition for the construction of public improvements . The Agency may also acquire property for the purpose of developing streetscape and public utilities . The Agency reserves the right to determine which properties identified, if any, should be acquired. 305.2 Personal Property Generally, personal property shall not be acquired. However, where necessary in the execution of this Plan, the Agency is authorized to acquire personal property in the Project Area by any lawful means , including eminent domain as limited by Idaho Code § 7-701A for the purpose of developing the public improvements described in section 305 . 1 . 306 Property Management During the time real property, if any, in the Project Area is owned by the Agency, such property shall be under the management and control of the Agency. Such property may be rented or leased by the Agency pending its disposition for development and/or redevelopment, and such rental or lease shall be pursuant to such policies as the Agency may adopt. 307 Relocation of Persons (Including Individuals and Families) , Business Concerns, and Others Displaced by the Project If the Agency receives federal fiends for real estate acquisition and relocation, the Agency shall comply with 24 C .F . R . Part 42 , implementing the Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970 , as amended . The Agency reserves the right to extend benefits for relocation to those not otherwise entitled to relocation benefits as a matter of state law under the Act or the Law. The Agency l I 17 may determine to use as a reference the relocation benefits and guidelines promulgated by the federal government, the state government, or local government, including the State Department of Transportation and the Ada County Highway District. The intent of this section is to allow the Agency sufficient flexibility to award relocation benefits on some rational basis, or by payment of some lump-sum per case basis . The Agency may also consider the analysis of replacement value for the compensation awarded to either owner occupants or businesses displaced by the Agency to achieve the objectives of this Plan. The Agency may adopt relocation guidelines which would define the extent of relocation assistance in non-federally- assisted projects and which relocation assistance to the greatest extent feasible would be uniform. The Agency shall also coordinate with the various local , state, or federal agencies concerning relocation assistance as may be warranted. In the event the Agency ' s activities result in displacement of families , the Agency shall comply with , at a minimum , the standards set forth in the Law . The Agency shall also comply with all applicable state laws concerning relocation benefits and shall also coordinate with the various local , state, or federal agencies concerning relocation assistance. 308 Demolition, Clearance and Site Preparation The Agency is authorized (but not required) to demolish and clear buildings, structures, and other improvements from any real property in the Project Area as necessary to carry out the purposes of this Plan . Further, the Agency is authorized (but not required) to prepare, or cause to be prepared, as buildingsites an real property in the Project Area owned b the Agency including site Y p P Y J Y g Y g preparation aration and/or environmental remediation . 309 Property Disposition and Development 309 . 1 . Disposition by the Agency For the purposes of this Plan , the Agency is authorized to sell , lease, lease/purchase, exchange, subdivide, transfer, assign, pledge, encumber by mortgage or deed of trust, or otherwise dispose of any interest in real property under the reuse provisions set forth in Idaho law, including Idaho Code § 5M011 and pursuant to any disposition policies adopted by the Agency . To the extent permitted by law, the Agency is authorized to dispose of real property by negotiated lease, sale, or transfer without public bidding . Real property acquired by the Agency may be conveyed by the Agency and, where beneficial to the Project Area, without charge to any public body as allowed by law. All real property acquired by the Agency in the Project Area shall be sold or leased to public or private persons or entities for development for the uses permitted in this Plan . Air rights and subterranean lights may be disposed of for any permitted use within the Project Area boundaries . 18 309. 2 Disposition and Development Agreements To provide adequate safeguards to ensure that the provisions of this Plan will be carried out and to prevent the recurrence of deteriorating conditions, all real property sold, leased, or conveyed by the Agency is subject to the provisions of this Plan . The Agency shall reserve such powers and controls in the disposition and development documents as the Agency deems may be necessary to prevent transfer, retention, or use of property for speculative purposes and to ensure that development is carried out pursuant to this Plan. Leases, lease/purchases, deeds , contracts , agreements, and declarations of restrictions of the Agency may contain restrictions , covenants, covenants running with the land, rights of reverter, conditions subsequent, equitable servitudes, or any other provisions necessary to carry out this Plan . Where appropriate, as determined by the Agency, such documents, or portions thereof, shall be recorded in the office of the Recorder of Ada County, Idaho . All property in the Project Area is hereby subject to the restriction that there shall be no discrimination or segregation based upon race, color, creed , religion , sex , age, national origin, or ancestry in the sale, lease, sublease, transfer, use, occupancy, disability/handicap, tenure, or enjoyment of property in the Project Area. All property sold , leased , conveyed, or subject to a disposition and development agreement shall be expressly subject by appropriate documents to the restriction that all deeds, leases, or contracts for the sale, lease, sublease, or other transfer of land in the Project Area shall contain such nondiscrimination and nonsegregation clauses as required by law . As required by law or as determined in the Agency ' s discretion to be in the best interest of the Agency and the public, the following requirements and obligations shall be included in the disposition and development agreement. That the developers , their successors , and assigns agree : a. That a detailed scope and schedule for the proposed development shall be submitted to and agreed upon by the Agency, b . That the purchase or lease of the land and/or subterranean rights and/or air rights is for the purpose of redevelopment and not for speculation. c . That the building of improvements will be commenced and completed as jointly scheduled and determined by the Agency and the developer(s) . d. That the site and construction plans will be submitted to the Agency for review as to conformity with the provisions and purposes of this Plan . 19 e . All new construction shall have a minimum estimated life as may be reasonable for the proposed development. f. That rehabilitation of any existing structure must assure that the structure is safe and sound in all physical respects and be refurbished and altered to bring the property to an upgraded marketable condition which will continue throughout an estimated useful life as may be reasonable for the proposed development. g That the Agency receives adequate assurance acceptable to the Agency to ensure performance under the contract for sale. h. All such buildings or portions of the buildings which are to remain within the Project Area shall be reconstructed in conformity with all applicable codes and ordinances of the City. i . All disposition and development documents shall be governed by the provisions of Section 408 of this Plan . The Agency also reserves the right to determine the extent of its participation based upon the achievements of the objectives of this Plan. Obligations under any disposition and development agreement and deed covenants, except for covenants which run with the land , beyond the termination date of this Plan, shall terminate no later than December 31 , 2040 . The Agency shall retain its discretion to negotiate an earlier date to accomplish all obligations under any disposition and development agreement. 309. 3 . Development by the Agency To the extent now or hereafter permitted by law, the Agency is authorized to pay for, develop , or construct public improvements within the Project Area for itself or for any public body or entity, which public improvements are or would be of benefit to the Project Area . Specifically, the Agency may pay for, install, or construct the public improvements authorized under Tdaho Code Section 50-2007 , 50- 2018 ( 10) and ( 13 ) , and 50-2903 (9) , ( 13), and ( 14) , and as otherwise identified in Attachment 5 and may acquire or pay for the land required therefore. Any public facility ultimately owned by the Agency shall be operated and managed in such a manner to preserve the public purpose nature of the facility. Any lease agreement with a private entity or management contract agreement shall include all necessary provisions sufficient to protect the public interest and public purpose. The Agency may enter into contracts , leases, and agreements with the City or other public body or private entity pursuant to this section, and the obligation of the Agency under such contract, lease, or agreement shall constitute an indebtedness of the Agency as described in Idaho Code § 50-2909 which may be made payable out of the taxes levied in the Project Area and allocated to the Agency under Tdaho Code § 50-2908 (2) (b) and Section 504 to this Plan or out of any other available funds . 20 310 Development Plans All development plans (whether public or private) prepared, pursuant to disposition and development agreement or owner participation agreement, shall be submitted to the Agency Board for approval and review. All development in the Project Area must conform to those standards specified in Section 408 and all applicable City ordinances . 311 Personal Property Disposition For the purposes of this PIan , the Agency is authorized to lease, sell , exchange, transfer, assign, pledge, encumber, or otherwise dispose of personal property which is acquired by the Agency. 312 Participation with Others Under the Law, the Agency has the authority to lend or invest fiords obtained fl•om the federal government for the purposes of the Law if allowable under federal Iaws or regulations . The federal funds that may be available to the Agency are governed by regulations promulgated by the Department of Housing and Urban Development for the Community Development Block Grant Program ("CDBG"), the Economic Development Administration , the Small Business Administration, or other federal agencies . In order to enhance such grants , the Agency ' s use of revenue allocation funds is critical . Under those regulations the Agency may participate with the private sector in the development and financuig of those private projects that will attain certain federal objectives . The Agency may, therefore, use the federal fiinds for the provision of assistance to private for-profit business, including, but not limited to, grants , loans , loan guarantees, interest supplements , technical assistance, and other forms to support, for any other activity necessary or appropriate to carry out an economic development project, As allowed by law, the Agency may also use funds from any other- sources or participate with the private or public sector with regard to any programs administered by the Idaho Department of Commerce for any purpose set forth under the Law or Act. The Agency may enter into contracts, leases, and agreements with the City, or other public body or private entity, pursuant to this section , and the obligation of the Agency under such contract, lease, or agreement shall constitute an indebtedness of the Agency as described in Idaho Code § 50-2909 which may be made payable out of the taxes levied in the Project Area and allocated to the Agency under Idaho Code § 50 -2908 (2) (b) and Section 504 to this Plan or out of any other available funds . 21 313 Conforming Owners The Agency may, at the Agency' s sole and absolute discretion, determine that certain real property within the Project Area presently meets the requirements of this Plan . 314 Arts and Cultural Funding The Agency may dedicate resources for the construction or purchase of facilities for the placement and maintenance of public art and arts projects may be selected and provided by the Agency, separately fiom any construction costs of developers . Though not required, the Agency Board generally makes selections of the works of art with assistance from the City and the Meridian Arts Commission and may include review and approval of the City Council . When possible, any Agency arts funding will be used to leverage additional contributions from developers, other private sources , and public or quasi-public entitles for purposes of including public art within the streetscape projects identified in this Plan . 400 USES PERMITTED IN THE PROJECT AREA 401 Designated Land Uses The Agency intends to rely upon the overall land use designations and zoning classifications of the City, as may be amended, and as tentatively depicted on Attachment 4 and as set forth in the City' s Comprehensive Plan and within the Meridian zoning ordinance and requirements, including the future land use map and zoning classifications , as may be amended , For the most part, the Project Area will include a mixe&use commercial , retail, office and residential project, as well as , a community recreation facility, public open spaces , and public structured parking and/or surface lots . Such improvements are consistent with the OT zoning designation. Provided, however, nothing herein within this Plan shall be deemed to be granting any particular right to zoning classification or use. 402 Public Rights-of-Way The Project Area contains existing maintained public rights-of--way as set forth on Attachment 1 , including but not limited to E . Broadway Avenue, E . Idaho Avenue, E . 2'id Avenue and E . 3 �d Avenue. Additional public streets , alleys, and easements may be created in the Project Area as needed for development. Existing streets , alleys, and easements may be improved , abandoned, closed , vacated, expanded or modified as necessary for proper development of the Project Area, in accordance with any applicable policies and standards of the Idaho Transportation Department, the City or Ada County Highway District regarding changes to dedicated rights-of-way. Any development, maintenance and future changes to the existing interior or exterior street layout shall be in accordance with the objectives of this Plan , and the City, the Ada County Highway District, or the Idaho Department of Transportation ' s design standards as may be 22 i I applicable shall be effectuated in the manner prescribed by State and local law; and shall be guided by the following criteria: a . A balancing of the needs of proposed and potential new developments for adequate pedestrian and vehicular access (including cars , trucks , bicycles, etc .) , vehicular parking, and delivery loading docks with the similar needs of any existing developments permitted to remain . Such balancing shall take into consideration the rights of existing owners and tenants under the rules for owner and tenant participation adopted by the Agency for the Project and any participation agreements executed thereunder; b . The requirements imposed by such factors as topography, traffic safety, and aesthetics ; and c . The potential need to serve not only the Project Area and new or existing developments, but to also serve areas outside the Project Area by providing convenient and efficient vehicular access and movement . The public rights-of4ay may be used for vehicular and/or pedestrian traffic, as well as for public improvements, public and private utilities , and activities typically found in public rights-of way. 403 Other Public, Semi=Public, Institutional, and Nonprofit Uses The Agency is also authorized to permit the maintenance, establishment, or enlargement of public, semi -public, institutional , or nonprofit uses , including park and recreational facilities ; educational , fraternal, employee; philanthropic and charitable institutions; utilities ; governmental facilities ; railroad rights-of way and equipment; and facilities of other similar associations or organizations . All such uses shall, to the extent possible, conform to the provisions of this Plan applicable to the uses in the specific area involved. The Agency may impose such other reasonable requirements and/or restrictions as may be necessary to protect the development and use of the Project Area . 404 Interim Uses Pending the ultimate development of land by developers and participants, the Agency is authorized to use or allow the use of any land in the Project Area for interim uses that are not in conformity with the uses permitted in this Plan . However, any interim use must comply with applicable City Code. 405 Development in the Project Area Subject to the Plan f All real property in the Project Area, under the provisions of either a disposition and development agreement or an owner participation agreement, is made subject to the controls and requirements of this Plan . No such real property shall be developed, rehabilitated, or otherwise 23 changed after the date of the adoption of this Plan, except in conformance with the provisions of this Plan. 406 Construction Shall Comply with Applicable Federal, State , and Local Laws and Ordinances and Agency Development Standards All construction in the Project Area shall comply with all applicable state laws, the Meridian City Code, as may be amended from time to time, and any applicable City Council ordinances pending codification, including but not limited to, regulations concerning the type, size, density, and height of buildings ; open space, landscaping, light, air, and privacy; the undergrounding of utilities ; Iimitation or prohibition of development that is incompatible with the surrounding area by reason of appearance, traffic, smoke, glare, noise, odor, or similar factors ; parcel subdivision; off street loading and off-street parking requirements , In addition to the Meridian City Code, ordinances , or other requirements governing development in the Project Area, additional specific performance and development standards may be adopted by the Agency to control and direct redevelopment activities in the Project Area in the event of a disposition and development agreement or owner participation agreement. 407 Minor Variations Under exceptional circumstances, the Agency, in its discretion, is authorized to allow a variation from the limits, restrictions, and controls established by this Plan. In order to allow such variation, the Agency must determine that the variation is not contrary to the objectives of this Plan, is not materially detrimental to the public interest and is not contrary to Idaho law , No variation shall be granted which permits other than a minor departure from the provisions of this Plan . In allowing any such variation , the Agency shall impose such conditions as are necessary to protect the public peace, health, safety , or welfare and to assure compliance with the purposes of the Plan . Any variation allowed by the Agency hereunder shall not supersede any other approval required under City codes and ordinances and shall not be considered a modification to the Plan . 408 Design for Development under a Disposition and Development Agreement or Owner Participation Agreement Within the limits , restrictions, and controls established in this Plan, the Agency is authorized to incorporate heights of buildings, density, land coverage, setback requirements , design criteria, traffic circulation, traffic access , and other development and design controls necessary for proper development of both private and public areas within the Project Area as conditions of approval in applicable Agency agreements, including but not limited to disposition and development agreements and owner participation agreements . Any development must also comply with the City' s zoning ordinance regarding heights, setbacks, density and other like standards . 224 i i In the case of property which is the subject of a disposition and development agreement or an owner participation agreement with the Agency, no new improvement shall be constructed , and no existing improvement shall be substantially modified, altered, repaired , or rehabilitated , except in accordance with this Plan . Under those agreements the architectural , landscape, and site plans shall be submitted to the Agency and approved in writing by the Agency . One of the objectives of this Plan is to create an attractive and pleasant environment in the Project Area . Therefore, such plans shall give consideration to good design, open space, and other amenities to enhance the aesthetic quality of the Project Area. The Agency shall find that any approved plans do comply with this Plan. The Agency reserves the right to impose such design standards on an ad hoc, case by case basis through the approval process of the owner participation agreement or disposition and development agreement. Any change to such approved design must be consented to by the Agency and such consent may be conditioned upon reduction of Agency ' s financial participation towards the Project. In the event the Agency adopts design standards or controls related to receipt of assistance from the Agency, those provisions will thereafter apply to each site or portion thereof in the Project Area. Those controls and standards will be implemented through the provisions of any disposition and development agreement or owner participation agreement. These controls are in addition to any standards and provisions of any applicable City building or zoning ordinances ; provided , however, each and every development shall comply with all applicable City zoning and building ordinance. 409 Nonconforming Uses This Section applies to property owners seeking assistance from the Agency regarding their property . The Agency may allow an existing use to remain in an existing building and site usage in good condition , which use does not conform to the provisions of this Plan, provided that such use is generally compatible with existing and proposed developments and uses in the Project Area. The owner of such a property must be willing to enter into an owner participation agreement and agree to the imposition of such reasonable restrictions as may be necessary to protect the development and use of the Project Area. The Agency may authorize additions, alterations, repairs, or other improvements in the Project Area for uses which do not conform to the provisions of this Plan where such improvements are within a portion of' the Project Area where, in the determination of the Agency, such improvements would be compatible with surrounding Project uses and development . All nonconforming uses shall also comply with the City codes and ordinances . 25 500 METHODS OF FINANCING THE PROTECT 501 General Description of the Proposed Financing Methods The Agency is authorized to finance this Project with revenue allocation fiends, financial assistance from the City (loans, grants, other financial assistance), state of Idaho, federal government or other public entities, interest income, developer advanced funds, donations , loans from private financial institutions (bonds, notes, line of credit), the lease or sale of Agency- owned property, public parking revenue, or any other available source, public or private, including assistance from any taxing district or any public entity. The Agency is also authorized to obtain advances , lines of credit, borrow funds, and create indebtedness in carrying out this Plan . The Agency may also consider an inter-fund transfer from other urban renewal project areas . The principal and interest on such advances, fiords , and indebtedness may be paid from any funds available to the Agency . The City, as it is able, may also supply additional assistance through City loans and grants for various public facilities . As allowed by law and subject to restrictions as are imposed by law, the Agency is authorized to issue notes or bonds from time to time, if it deems appropriate to do so, in order to finance all or any part of the Project. Neither the members of the Agency nor any persons executing the bonds are liable personally on the bonds by reason of their issuance. 502 Revenue Allocation Financing Provisions The Agency hereby adopts revenue allocation financing provisions as authorized by the Act, effective retroactively to January 1 , 2020 . These revenue allocation provisions shall apply to all taxing districts which are located in or overlap the Revenue Allocation Area shown and described on Attachments 1 and 2 to this Plan. The Agency shall take all actions necessary or convenient to implement these revenue allocation financing provisions . The Agency specifically finds that the equalized assessed valuation of property within the Revenue Allocation Area is likely to increase as a result of the initiation of the Project. The Agency, acting by one or more resolutions adopted by its Board , is hereby authorized to apply all or any portion of the revenues allocated to the Agency pursuant to the Act to pay as costs are incurred (pay-as-you-go) or to pledge all or any portion of such revenues to the repayment of any moneys advancc4unded by developers or owners , borrowed, indebtedness incurred , or notes or bonds issued by the Agency to finance or to refinance the Project Costs (as defined in Idaho Code § 50-2903 ( 14)) of one or more urban renewal projects . The Agency may consider a note or line of credit issued by a bank or lending institution premised upon revenue allocation funds generated by a substantial private development contemplated by the Study as defined in section 502 . 1 , which would allow the Agency to more quickly fndd the public improvements contemplated by this Plan . Likewise, a developer/owner advanced funding could achieve the same purpose. 26 Upon enactment of a City Council ordinance finally adopting these revenue allocation financing provisions and defining the Revenue Allocation Area described herein as part of the Plan , there shall hereby be created a special fund of the Agency into which the County Treasurer shall deposit allocated revenues as provided in Idaho Code § 5M908 . The Agency shall use such funds solely in accordance with Idaho Code § 50-2909 and solely for the purpose of providing funds to pay the Project Costs , including any incidental costs, of such urban renewal projects as the Agency may determine by resolution or resolutions of its Board . A statement listing proposed public improvements and facilities, a schedule of improvements , an economic feasibility study, estimated project costs , fiscal impact upon other taxing districts, and methods of financing project costs required by Idaho Code § 50-2905 is included in this Plan and in Attachment 5 to this Plan. This statement necessarily incorporates estimates and projections based on the Agency ' s and the consultants ' present knowledge and expectations . The Agency is hereby authorized to adjust the presently anticipated urban renewal projects and use of revenue allocation financing of the related Project Costs if the Board deems such adjustment necessary or convenient to effectuate the general objectives of the Plan in order to account for revenue inconsistencies, market adjustments, future priorities, and unknown future costs . Agency revenue and the ability to fnind reimbursement of eligible Project Costs is more specifically detailed in the annual budget . The Agency may appropriate funds consisting of revenue allocation proceeds on an annual basis without the issuance of notes or bonds . The Agency may also obtain advances or loans from the City or Agency, or private entity and financial institutions in order to immediately commence construction of certain of the public improvements . Developer advanced funding of public improvements could also achieve the same purpose. The revenue allocation proceeds are hereby irrevocably pledged for the payment of the principal and interest on the advance of monies or making of loans or the incurring of any indebtedness such as bonds , notes, and other obligations (whether funded, refiinded, assumed, or otherwise) by the Agency to finance or refinance the Project in whole or in part, including reimbursement to developers for the cost of eligible public improvements . Revenues will continue to be allocated to the Agency until termination of the revenue allocation area as set forth in Section 800 , Attachment 5 incorporates estimates and projections based on the Agency ' s and the consultants ' present knowledge and expectations concerning the length of time to complete the improvements and estimated future revenues . The activity may take longer depending on the significance and timeliness of development. Alternatively, the activity may be completed earlier if revenue allocation proceeds are greater or the Agency obtains additional funds. 502. 1 Economic Feasibility Study Attachment 5 constitutes the Economic Feasibility Study ("Study") for the urban renewal area prepared by Kushlan I Associates and SMR Development, LLC . The Study constitutes the 27 i financial analysis required by the Act and is based upon existing information from property owners , developers, the Agency, City and others . 502. 2 Assumptions and Conditions/Economic Feasibility Statement The information contained in Attachment 5 assumes certain completed and projected actions . All debt is projected to be repaid no later than the duration period of the Plan . The total amount of bonded indebtedness, developer reimbursement and all other loans or indebtedness, and the amount of revenue generated by revenue allocation are dependent upon the extent and timing of private development. Should all of the proposed development take place as projected, the project indebtedness could be extinguished earlier, dependent upon the bond sale documents or other legal obligations . Should private development take longer to materialize, or should the private development be substantially less than projected , then the amount of revenue generated will be substantially reduced and debt may continue for its full term . i The Plan and the Plan Attachments incorporate estimates and projections based on the Agency ' s and consultants ' present knowledge and expectations . The Plan proposes certain public improvements as set forth in Attachment 5 , which will facilitate mixe&use commercial, residential, office and retail development in the Revenue Allocation Area. The assumptions set forth in the Study are based upon the best information available to the Agency and consultants through public sources or discussions with property owners, developers, City staff and others . The infaiination has been analyzed by the Agency and its consultants in order to provide an analysis that meets the requirements set forth under the Law and Act. At the point in time when the Agency may seek a loan from lenders or others , a more detailed and then-current financial pro forma will be presented to those lenders or underwriters for analysis to determine the borrowing capacity of the Agency . As set forth herein , the Agency reserves the right to fund the Project on a "pay as you go" basis . The Agency Board will prioritize the activities set forth in this Plan and determine what funds are available and what activities can be funded. The Agency will establish those priorities through its mandated annual budgetary process. The list of public improvements , or activities within Attachment 5 are prioritized by way of 'mportance to the Agency, by feasibility based on estimated revenues to be received, amounts funded, and by year of ftmding . The projected timing of funding is primarily a ftinction of the availability of financial resources and market conditions but is also strategic, considering the timing of private development partnership opportunities and the ability of certain strategic activities to stimulate development at given points in time within the duration of the Plan and Project Area. The assumptions concerning revenue allocation proceeds are based upon certain anticipated development, assessed value increases and assumed levy rates as more specifically set forth in Attachment 5 . Further, the financial analysis set forth in Attachment 5 has taken into 28 i account and excluded levies that do not flow to the Agency consistent with Idaho Code § 50- 2908 . The types of new construction expected in the Project Area are mixed-use, residential, commercial , office and retail projects , and related public improvements , as well as a community recreation facility, public open spaces, and public structured parking facility and/or surface parking lots. The Project Area has potential for a significant increase in residential, commercial, and retail growth due to the location of the Project Area. However, without a method to construct the identified public improvements such as water lines, street infrastructure, and pedestrian amenities , development is unlikely to occur in much of the Project Area , 502.3 Ten Percent Limitation Under the Act, the base assessed valuation for all revenue allocation areas cannot exceed gross/net ten percent ( 10 %) of the current assessed taxable value for the entire City . According to the Ada County Assessor, the assessed taxable value for the City as of January I , 20191 , less homeowner's exemptions is $9,465 ,760,011 .00. Therefore, the 10% limit is $946, 576,001 .00 . The adjusted base assessed value of each of the existing or proposed revenue allocation areas as of January 1 , 2019, is as follows : Meridian Revitalization Plan (Downtown District Plan)2 $ 13122527900 Ten Mile District $ 12, 5823900 Union District $ 23163 , 380 The adjusted base values for the combined revenue allocation areas total $ 145 ,998 , 180, which is less than 10% of the City' s 2019 taxable value. 502. 4 Financial Limitation The Study identifies several capital improvement projects . Use of any particular financing or funding source for any particular purpose is not assured or identified. Use of the funding source shall be conditioned on any limitations set forth in the Law, the Act, by contract, or by other federal regulations . If revenue allocation funds are unavailable , then the Agency will need to use a different funding source for that improvement, The amount of funds available to the Agency from revenue allocation financing is directly related to the assessed value of new improvements within the Revenue Allocation Area. Under the Act, the Agency is allowed the revenue allocation generated from inflationary r Due to the timing of the assessment process and creation of this Plan, the 2019 values have been used to establish compliance with the 10% limitation . Using the 2019 values, the total adjusted base value of the existing and proposed revenue allocation areas combined with the value of this Project Area are less than 2% of the total taxable value of the City. Even assuming an increase in values for 2020, the combined adjusted base values of the revenue allocation areas would not exceed 10% of the current assessed taxable value for the entire City. Less area deannexed by the First Amendment to the Meridian Revitalization Plan Urban Renewal Project, adopted by City Council Ordinance No . on June , ) 2020 . 29 i increases and new development value. Increases have been assumed based upon the projected value of new development as that development occurs along with possible land reassessment based on a construction start. The Study, with the various estimates and projections, constitutes an economic feasibility study . Costs and revenues are analyzed , and the analysis shows the need for public capital funds during the project. Multiple financing sources including annual revenue allocations , developer contributions , City contributions , interfund loan , property disposition , and other funds are shown . This Study identifies the kind, number, and location of all anticipated public works or improvements , a detailed list of estimated project costs, a description of the methods of financing the estimated project costs, and the time when related costs or monetary obligations are to be incurred . See Tdaho Code § 50-2905 . Based on these funding sources , the conclusion is that the project is feasible . The Agency reserves the discretion and flexibility to use revenue allocation proceeds in excess of the amounts projected in the Shady for the purpose of funding the additional identified projects and improvements . The projections in the Study are based on reasonable assumptions and existing market conditions . However, should the Project Area result in greater than anticipated revenues , the Agency specifically reserves the ability to fiend the additional activities and projects identified in this Plan . Further, the Agency reserves the discretion and flexibility to use other sources of funds unrelated to revenue allocation to assist in the handing of the improvements and activities identified, including but not limited to owner participation agreements and disposition and development agreements . The Agency may also , re-prioritize projects pursuant to market conditions , project timing, funding availability, etc. as more specifically detailed in the annual budget. The proposed timing for the public improvements may very well have to be adjusted depending upon the availability of some of the funds and the Agency' s ability to finance any portion of the Project. Any adjustment to Project timing or funding Is technical or ministerial in nature and shall not be considered a modification of the Plan pursuant to Idaho Code § 504903A. Attachment 5 lists those public improvements the Agency intends to construct through the term of the Plan. The costs of improvements are estimates only as it is impossible to know with any certainty what the costs of improvements will be in future years . There is general recognition that construction costs fluctuate and are impacted by future unknowns, such as , the cost of materials and laborers . Final costs will be determined by way of construction contract public bidding or by an agreement between the developer/owner and Agency. The listing of public improvements does not commit the City or Agency to any particular level of funding, rather, identification of the activity in the Plan allows the Agency to negotiate the terms of any reimbursement with the developer and/or City . This Plan does not financially bind or obligate the City or Agency to any project or property acquisitions rather, for purposes of determining the economic feasibility of the Plan certain projects and expenditures have been estimated and included in the analysis . Agency revenue and the ability to fund reimbursement of eligible 30 Project Costs is more specifically detailed in any participation agreement and in the annual budget adopted by the Agency Board . The Agency reserves its discretion and flexibility in deciding which improvements are more critical for development, and the Agency intends to coordinate its public improvements with associated development by private developers/owners . The Agency also intends to coordinate its participation in the public improvements with the receipt of certain grants or loans which may require the Agency ' s participation in some combination with the grant and loan funding. Generally, the Agency expects to develop those improvements identified in Attachment 5 first, in conjunction with private development within the Project Area generating the increment as identified in Attachment 5 . The Plan has shown that the equalized valuation of the Revenue Allocation Area as defined in the Alan is likely to increase as a result of the initiation and completion of urban renewal projects pursuant to the Plan. 502 .5 Participation with Local Improvement Districts and Business Improvement Districts Under the Idaho Local Improvement ("LTD") District Code, Chapter 17 , Title 50 , Idaho Code, the City has the authority to establish local improvement districts for various public facilities , including, but not limited to , streets, curbs , gutters , sidewalks, storm drains, landscaping, and other like facilities . To the extent allowed by the Law and the Act, the Agency reserves the authority, but not the obligation , to participate in the funding of local improvement district facilities . This participation may include either direct funding to reduce the overall cost of the LID or to participate as an assessed entity to finance the LID project. Similarly, to the extent allowed by the Law and the Act, the Agency reserves the authority, but not the obligation, to participate in the funding of the purposes specified under the Business Improvement Districts, Chapter 26 , Title 50, Idaho Code . 502 . 6 Issuance of Debt and Debt Limitation Any debt incurred by the Agency as allowed by the Law and Act shall be secured by revenues identified in the debt resolution or revenue allocation funds as allowed by the Act. All such debt shall be repaid within the duration of this Plan, except as may be authorized by law . 502 . 7 Impact on Other Taxing Districts and Levy Rate An estimate of the overall impact of the revenue allocation project on each taxing district is shown in the Study through the new development projections set forth in Attachment 5 . The assessed value for each property in a revenue allocation area consists of a base value and an increment value. The base value is the assessed value as of January 1 of the year in 31 which a revenue allocation area is approved by a municipality, with periodic adjustments allowed by Idaho law. The increment value is the difference between the adjusted base assessed value and current assessed taxable value in any given year while the property is in a revenue allocation area. Under Idaho Code § 6M02, taxing entities are constrained in establishing levy rates by the amount each budget of each taxing district can increase on an annual basis . Taxing entities submit proposed budgets to the County Board of Commissioners , which budgets are required to comply with the limitations set forth in Idaho Code § 6M02. Therefore, the impact of revenue allocation is more of a product of the imposition of Idaho Code § 6M02 , than the effect of urban renewal . The County Board of Commissioners calculates the levy rate required to produce the proposed budget amount for each taxing entity using the assessed values which are subject to each taxing entity ' s levy rate . Assessed values in urban renewal districts which are subject to revenue allocation (incremental values) are not included in this calculation . The combined levy rate for the taxing entities is applied to the incremental property values in a revenue allocation area to determine the amount of property tax revenue which is allocated to an urban renewal agency. The property taxes generated by the base values in the urban renewal districts and by properties outside revenue allocation areas are distributed to the other taxing entities . Properties in revenue allocation areas are subject to the same levy rate as they would be outside a revenue allocation area. The difference is how the revenue is distributed . If the overall levy rate is less than assumed, the Agency will receive fewer funds from revenue allocation . In addition, without the Revenue Allocation Area and its ability to pay for public improvements and public facilities, fewer substantial improvements within the Revenue Allocation Area would be expected during the term of the .Plan; hence, there would be lower increases in assessed valuation to be used by the other taxing entities . The 5tudy ' s analysis is premised upon the fact the proposed development would not occur but for the ability to use revenue allocation funds to fund certain significant public infrastructure improvements . One result of new construction occuil ing outside the revenue allocation area (Idaho Code § § 63402 and 63 -301A) is the likely reduction of the levy rate as assessed values increase for property within each taxing entity ' s jurisdiction . From and after December 31 , 2006, Idaho Code § 63 -301A prohibits taxing entities fiorn including, as part of the new construction roll , the increased value related to new constriction within a revenue allocation area until the revenue allocation authority is terminated , Any new construction within the Project Area is not available in the short term for inclusion by the taxing entities to increase their budget capacity. Under current law, upon termination of this Plan or deannexation of area, the taxing entities will be able to include the accumulated new construction roll value in setting the following year' s budget and revenue from such value is not limited to the three percent increase allowed in Idaho Code § 63- 802 ( 1 ) (a) . 32 I I i As 2019 certified levy rates are not determined until late September 2020, the 2019 certified levy rates have been used in the Study for purposes of the analysis .3 Those taxing districts and rates area as follows : Taxing District Levies . Ada County 9002549212 Ada County Highway District . 000771526 City of Meridian 9003083910 West Ada School District .000014448 Ada County Ambulance .000121963 Mosquito Abatement District .000021765 College of Western Idaho .000128506 Meridian Cemetery . 000037985 Meridian Free Libraty . 000441567 Western Ada Recreation 9000042391 i TOTAL : . 007213273 The Study has made certain assumptions concerning the levy rate primarily based on the Idaho Legislature ' s intended study of the property tax system, as well as the recognition of the termination of the Meridian Revitalization Plan Urban Renewal Project during the life of this Plan and Project Area. For purposes of this Plan and the Study, the levy rate is estimated conservatively to be . 0065, which is an almost 10% reduction of the estimated applicable levy rate set forth above . The levy rate is estimated to stay level for the life of the revenue allocation area. If the overall levy rate is less than projected, or the land values do not increase as expected, or expected development fails to occur as estimated, the Agency shall receive fewer fiends from revenue allocation . Pursuant to Idaho Code § 50- 2908 , the Agency is not entitled to revenue allocation proceeds from certain levy increases which are allowed by either specific statutory authorization or approved by an election of the qualified electors of the particular taxing district. Therefore, for any levy election, the Agency will not receive revenue allocation funds which would have been generated by imposing that levy on the assessed valuation within the Project Area. The Study has taken this statute into account. 503 Lease Revenue, Parking Revenue, and Bonds Under the Law (Idaho Code § 50= 2012) , the Agency is authorized to issue revenue bonds to finance certain public improvements identified in the Plan . Under that type of financing, the public entity would pay the Agency a lease payment annually which provides certain funds to the Agency to retire the bond debt. Another variation of this type of financing is sometimes referred j to as conduit financing, which provides a mechanism where the Agency uses its bonding I 3 Due to the timing of the taxing districts ' budget and levy setting process, certification of the 2020 levy rates did not occur until after this Plan had been prepared and considered by the Agency , in order to provide a basis to analyze the impact on the taking entities, the 2019 levy rates are used. Use of the 2019 levy rates provides a more accurate base than estimating the 2020 levy rates. 33 authority for the Project, with the end user making payments to the Agency to retire the bond debt. These sources of revenues are not related to revenue allocation funds and are not particularly noted in the Study, because of the "pass through" aspects of the financing . Under the Act, the economic feasibility study focuses on the revenue allocation aspects of the Agency ' s financial model. These financing models typically are for a longer period of time than the 20-year period set forth in the Act. However, these financing models do not involve revenue allocation Rinds, but rather funds from the end users which provide a funding source for the Agency to continue to own and operate the facility beyond the term of the Plan as allowed by Idaho Code § 50 -2905 (8) as those resources involve funds not related to revenue allocation fluids . 504 Membership Dues and Support of Community Economic Development The Act is premised upon economic development being a valid public purpose. To the extent allowed by the Law and the Act, the Agency reserves the authority to use revenue allocation funds to contract with non-profit and charitable organizations established for the purpose of supporting economic development and job creation. Additionally, the Agency reserves the authority to expend revenue allocation funds to join, participate and support non- profit organizations established to support Agency best practices and administration . The District Operating Expenses identified in the Study shall be deemed to include expenditures for the purposes described in this section as may be deemed appropriate during the annual budgetary process . 600 ACTIONS BY THE CITY AND OTHER PUBLIC ENTITIES The City shall aid and cooperate with the Agency in carrying out this Plan and shall take all actions necessary to ensure the continued fulfillment of the purposes of this Plan and to prevent the recurrence or spread in the area of conditions causing deterioration. Actions by the City shall include, but not be limited to, the following . a . Institution and completion of proceedings necessary for changes and improvements in private and publicly owned public utilities within or affecting the Project Area. b . Revision of zoning (if necessary) within the Project Area to permit the land uses and development authorized by this Plan. I c . Imposition wherever necessary of appropriate controls within the limits of this Plan upon parcels in the Project Area to ensure their proper development and use. d. Provision for administrative enforcement of this Plan by the City after development. The City and the Agency may develop and provide for enforcement of a program for continued maintenance by owners of all real 34 property, both public and private, within the Project Area throughout the duration of this Plan. e . Building Code enforcement. f. Performance of the above actions and of all other functions and services relating to public peace, health, safety, and physical development normally rendered in accordance with a schedule which will permit the development and/or redevelopment of the Project Area to be commenced and carried to completion witliout unnecessary delays . g. The undertaking and completing of any other proceedings necessary to carry out the Project. h. Administration of Community Development Block Grant funds that may be made available for this Project. i . Appropriate agreements with the Agency for administration, supporting services, funding sources, and the like. j . Use of public entity labor, services, and materials for construction of the public improvements listed in this Plan . k. Coordination of the development agreements entered into by the City and developer with the goals of the Plan. 1. Assist with coordinating and implementing the public improvements in the Project Area identified in the Study. In addition to the above, the City may elect to waive hookup or installation fees for sewer, water, or other utility services for any facility owned by any public entity or Agency facility and waive any city impact fee for development within the Project Area . The foregoing actions to be taken by the City do not constitute any commitment for financial outlays by the City or other applicable public entity . 601 Maintenance of Public Improvements The Agency has not identified any commitment or obligation for Iong-tern maintenance of the public improvements identified . The Agency will need to address this issue with the appropriate entity, public or private, who has benefited from or is involved in the ongoing preservation of the public improvement , The Agency expects to dedicate public improvements to the City. I 'F j 35 700 ENFORCEMENT The administration and enforcement of this Plan, including the preparation and execution of any documents implementing this Plan , shall be performed by the Agency and/or the City. 800 DURATION OF THIS PLAN, TERMINATION, AND ASSET REVIEW The provisions of this Plan shall be effective, and the provisions of other documents formulated pursuant to this Plan, shall be effective for twenty (20) years from the effective date of the Plan subject to modifications and/or extensions set forth in Idaho Code § § 50-2904 and 50- 2905 (7) . The revenue allocation authority will expire on December 31 , 2040, except for any revenue allocation proceeds received in calendar year 2041 , as contemplated by Idaho Code § 50-2905 (7) . The Agency may use proceeds in 2041 to complete the projects set forth herein. As stated in the Plan , any owner participation agreement or disposition and development agreement obligations will cease as of December 31 , 2040 . Idaho Code § 50-2903 (5 ) provides the Agency shall adopt a resolution of intent to terminate the revenue allocation area by September 1 of the termination year. In order to provide sufficient notice of termination to the affected taxing districts to allow them to benefit from the increased budget capacity, the Agency will use its best efforts to provide notice of its intent to terminate this Plan and its revenue allocation authority by May 1 , 2041 , or if the Agency determines an earlier terminate date, then by May 1 of the early termination year ; a . When the Revenue Allocation Area plan budget estimates that all financial obligations have been provided for, the principal of and interest on such moneys, indebtedness , and bonds have been paid in full or when deposits in the special fund or funds created under this chapter are sufficient to pay such principal and M interest as they come due, and to fiord reserves , if any, or any other obligations of the Agency funded through revenue allocation proceeds shall be satisfied and the Agency has determined no additional project costs need be funded through revenue allocation financing, the allocation of revenues under Idaho Code § 50 - 2908 shall thereupon cease; any moneys in such fund or funds in excess of the amount necessary to pay such principal and interest shall be distributed to the affected taxing districts in which the Revenue Allocation Area is located by the County Clerk in the same manner and proportion as the most recent distribution to the affected taxing districts of the taxes on the taxable property located within the Revenue Allocation Area; and the powers granted to the urban renewal agency under Idaho Code § 50 -2909 shall thereupon terminate. b . In determining the termination date, the Plan shall recognize that the Agency shall receive allocation of revenues in the calendar year following the last year of the revenue allocation provision described in the Plan . c. For the fiscal year that immediately predates the termination date, the Agency shall adopt and publish a budget specifically for the projected revenues and 36 i expenses of the Plan and make a determination as to whether the Revenue Allocation Area can be terminated before January 1 of the termination year pursuant to the terms of Idaho Code § 50-2909 (4) . In the event that the Agency determines that current tax year revenues are sufficient to cover all estimated expenses for the current year and all future years, by May 1 , but in any event, no later than September 1 , the Agency shall adopt a resolution advising and notifying the local governing body, the county auditor, and the State Tax Commission, recommending the adoption of an ordinance for termination of the Revenue Allocation Area by December 31 of the current year, and declaring a surplus to be distributed as described in Idaho Code § 50-2909 should a surplus be determined to exist. The Agency shall cause the ordinance to be filed with the office of the county recorder and the Idaho State Tax Commission as provided in Idaho Code § t 63 -215 . Upon termination of the revenue allocation authority of the Plan to the extent the Agency owns or possesses any assets , the Agency shall dispose of any remaining assets by granting or conveying or dedicating such assets to the City. As allowed by Idaho Code § 50-2905 (8), the Agency may retain assets or revenues generated fi•om such assets as loans; the Agency shall have resources other than revenue allocation fiends to operate and manage such assets. Similarly, facilities which provide a lease income stream to the Agency for full retirement of the facility debt will allow the Agency to meet debt services obligations and provide for the continued operation and management of the facility . For those assets which do not provide such resources or revenues, the Agency will likely convey such assets to the City, depending on the nature of the asset. 900 PROCEDURE FOR AMENDMENT OR MODIFICATION To the extent there are any outstanding loans or obligations, this Plan shall not be modified pursuant to the provisions set forth in Idaho Code § 50- 2903A . Modification of this Plan results in a reset of the base value for the year immediately following the year in which the modification occurred to include the current year ' s equalized assessed value of the taxable property in the revenue allocation area, effectively eliminating the Agency ' s revenue stream as more fully set forth in Idaho Code § 50-2903A subject to certain limited exceptions contained therein, including the exception to allow an amendment to support growth of an existing commercial or industrial project. T. C . § 50-2903A( 1 )(a) (%v) . . As more specifically identified above, the Agency ' s projections are based on estimated values, estimated levy rates, estimated future development, and estimated costs of future construction/improvements . Annual adjustments as more specifically set forth in the Agency' s annual budget will be required to account for more/ less estimated revenue and prioritization of projects . Any adjustments for these stated purposes are technical and ministerial and are not deemed a modification under Idaho Code § 50-2903A ( 1 ) (a) (* 37 1000 SEVERABILITY If any one or more of the provisions contained in this Plan to be performed on the part of the Agency shall be declared by any court of competent jurisdiction to be contrary to law, then such provision or provisions shalt be null and void and shall be deemed separable from the remaining provisions in this Plan and shall in no way affect the validity of the other- provisions of this Plan. 1100 ANNUAL REPORT AND OTHER REPORTING REQUIREMENTS Under the Law, the Agency is required to file with the City, on or before March 31 of each year, a report of the Agency ' s activities for the preceding calendar year, which report shall include a complete financial statement setting forth its assets, liabilities, income, and operating expenses as of the end of such calendar year. This annual report shall be considered at a public meeting to report these findings and take comments from the public . Additionally, the Agency must comply with certain other reporting requirements as set forth in Idaho Code § 67450E, the local government registry portal , Idaho Code § 50-2913 , the I tax commission plan repository, and Idaho Code § 50-2903A , the tax commission ' s plan modification annual attestation . Failure to report the information requested under any of these fstatutes results in significant penalties , including loss of Increment revenue, and the imposition f of other compliance measures by the Ada County Board of County Commissioners. i i 1200 APPENDICES , ATTACHMENTS , EXHIBITS, TABLES All attachments and tables referenced in this Plan are attached and incorporated herein by their reference. All other documents referenced in this Plan but not attached are incorporated by their reference as if set forth fully. 38 doubt UNION DISTRrCT C17Y OF MERIDIAN, ADA COUNTY, IDAHO I i I j E PINE AVE z K I z m m m N W �1 > z 0 0 z 0 O z 1 . , . _.. —I �7 Q S 8°38'2-9 E 454.8 ' E IDAHO AVE -v . . ........ ...... .... . .. . . .. ..... real a, Dollars 14 bailout,, n, Able 011#1111141. 1. i i<, travelers" 11111flatlel n, M o ry Z steamer- I to Orator :; 010 co F8 42 24 E 380. 05 rn E B ROADWAY VE A 3 : :IIi ' :x';:::• ... . .. . ... ....•. , . I ... ... .... .......... ... ..... ... ... ............. . ... ............... .... .. rn :: ... ..:::: ::::::.: :.:::. :..:. :: :................... ry O N rr{�r Op I1 :.•Ross; O W 014,110 ,4144 _M M O PA Nod ad do sold *,444*014 Pool ::\':: .'4P4l4@dl*llLdl IIIIIII&IIIIIIV&4d I error I I O4410@6ql**6**qd1 11111 "error "Nab applies.* Nomura it.... .. y� Died do 41OOm k 4 *for% 4 'a gat % Name Op6t.b.m.&A.... 144 Nod Sol border I do ogdommobi assets i.saffit doadd.ams S a ; : :: : :it ` : ::: ;. . . : .. :.: . . :': > Q•:.ANN 88030 `19" W 831 , 04' /. �g/�9ti. 1 574 3 1jrsc4 12 17 OF Win all R _ VIP E FRANKLIN RD ? + OF Zp i W 8318?IZ' W 13 �18 - --- - " _ _ _ - - 1� y l F BEXG NTs pnOJECT; OWNEli/DEYeLOPER 2030 S. WASHINGTON AVE. DWG # UNION DISTRICT EMMETT; ID 83617 120018- Ex BILL TAN , I ANNEXATION EXHIBITA&-00Zpar208) 398-8104 paojecr# MERIDIAN , D. F; 208) 398-8105 120018 SEC , 7 , T3N , R1E, B . M . 208-914.6131 �/7OOr }�` ADA COUNTY , IDAHO SHEET Dare: 2r2020 LandSurvcJi /_LG WWW, SAWTOOTHLS, COM 1 OF 1 Attachment 1 Project Area and Revenue Allocation Area Boundary Map Attachment 2 Legal Description of Project Area and Revenue Allocation Area An area consisting of approximately 16 acres as more particularly described as follows : 5awtooth Land 5urveylne , LLC P : ( 208) 398 -8104 P : ( 208) 398 -8105 2030 5 . Wa5hin9ton Ave . , Emmett , ID 53G 17 De-Annexation & Annexation Legal Description for Union District A tract of land consisting of approximately 15 .90 acres being a portion of Section 7 , Township 3 North , Range 1 East, Boise Meridian, City of Meridian, Ada County, Idaho , more particularly described as follows : COMMENCING at the Section Corner common to Sections 12 and 13 of Township 3 North , Range I West and Sections 7 and 18 of Township 3 North, Range 1 East of the Boise Meridian, thence along the section line common to said Sections 12 and 13 , being the centerline of Franklin Road North 89°32' 43 " West 1328012 feet to the East 1 / 16th Corner on said section line; thence North 53 °01 ' 09" East, 2291 .26 feet to the intersection of the southerly right of way of Union Pacific Railroad and the westerly right of way of N . Main St. and the POINT OF BEGINNING ; thence North 0°33 ' 1 l " East, coincident with said westerly right of way of N. Main St. , 639. 69 feet to the northerly right of way of E . Broadway Ave. ; thence South 88 °42 ' 24" East, coincident with said northerly right of way of E , Broadway Ave. , 380. 05 feet to the westerly right of way of E. 2nd St . ; thence North 0°33 ' 15" East, coincident with said westerly right of way of E . 2nd St. , 336. 24 feet to the northerly right of way of E. Idaho Ave. ; thence South 88°38 ' 29" East, coincident with said northerly right of way of E. Idaho Ave . , 464. 82 feet to the easterly right of way of E. 3rd St . ; thence South l °2 P 54" West, coincident with said easterly right of way of E. 31 St. , 978 .24 feet to said southerly right of way of Union Pacific Railroad; thence North 88°30 ' 19 " West, coincident with said southerly right of way of Union Pacific Railroad , 831 ,04 feet to the POINT OF BEGINNING , 1+ 1574 4 01= �aP�+ Attachment 3 Properties (Public and/or Private) Which May Be Acquired by Agency 1 . Properties which may be subject to acquisition by the Agency included parcels to : a} assemble with adjacent parcels to facilitate development and/or redevelopment; b) assemble with adjacent rights- of-way to improve configuration and enlarge parcels for development and/or redevelopment, c) reconfigure sites for development and possible extension of streets or pathways d) assemble for future transfer to qualified developers to facilitate the development of mixed-use, residential, commercial, office and retail areas . e) assemble for the construction of certain public improvements , including but not limited to streets , streetscapes, water and sewer improvements , environmental and floodplain remediation/site preparation , public parking, community and recreation facilities, parks , pedestrian/bike paths and trails , and open space. 2 . The Agency reserves the right to acquire any additional right- of4ay or access routes near or around existing or planned rights-of way. 3 . The Agency reserves the right to acquire property needed to provide adequately sized sites for high priority projects for the development of public improvements (the exact location of which has not been determined) . 4 . Other parcels may be acquired for the purpose of facilitating catalyst or demonstration projects, constructing public parking, constructing new streets or pathways, enhancing public spaces , or to implement other elements of the urban renewal plan strategy and/or the Plan for the Project Area. Attachment 4 Map Depicting Expected Land Uses and Current Zoning Within Revenue Allocation Area and Project Area i L_1 � Lo. r o N ` IN , r- - AHiV - :1ST--1 --,- ------ -- �._ - v -- - 9 ' 3N �-i - - 3 C � H N ,n N -- 1S H19 3N — 3 /1b' u N - — H19. v ZD 3N N ]LU l --� ---- 1S Hit? 3N _ to o -- - w W i = I , tl ^ a'� a ■ awe ■ � _ hii _.._ w S , aZlE, 3N a( b a I ana �" +u i :r 1s GWAN ' LU l _ � 4a ® asa ® r ® a ® aw ® a 1'S Nlb'W&;N ui � _-- ._ l ,aa - Ndlala mN NNE _ if - - -- � - _ Eat: -- — ._ — � ffP - — -- lam W I a_.. .. _ , - — I ,►, m -- a — 1S 15 l MN -- - - - ----- -- - — � �� J II MN 14 f a ll III 11 1� a � I CA m O 3 d I t 21s ONE_MN �° I Ltz � N NI , / v - _dH1H : /y e — 1S , H19-: 3N 0 � N ,on N 70 - 1S Ht9 3N ❑ 3Ad U N H1S :` ° a 73N`� ui Q _ [Hill 3N Q lialt 0,�o _ go � - ! i-■-/- W f.■ /-■- / / ■ — y aas 3N -- -■ — W ax LU f— � W S$i?v.T.b W W �w L 1S 4NZ 3NIL. :;Fa• r. ; - -- — fFF 1S. C1NZ3N — � Y L _ _ f` "' W — 1S- NIdW- N = - ff/ � ■ 1 ■ / / ■ ■ a LU - � - WLLLL — l y -- F-• W Qi � W r > C Lill ffS a 1S 1S L MN �„ a 0 3 — O a 004 E �— _ag Nu 1S ONZ( MINLU _l Q 3ox m -- U 5 U O o 1S M MN MINN a � � 3 « LLM F�n F Attachment 5 Economic Feasibility Study 4840-3668A470 , v. 4 ECONOMIC FEASIBILITY STUDY ATTACHMENT 5 . 1 Public Improvements within the Revenue Allocation Area This Attachment includes a statement listing the kind , number, and proposed location of all proposed public works or improvements proposed to be installed within the Project Area , together with the estimated costs of such improvements pursuant to Idaho Code § 50-2905 . This Attachment also sets forth a finding as to the economic feasibility of the proposed Project recognizing the specific assumptions used in the modeling, including a description of the methods of financing the estimated project costs, the timing of development and cash flow analysis. As more fully set forth in the Plan , the proposed Project to be funded by revenue allocation funds includes fully improved streets, utilities, and other public rights- of-way amenities, as well as park and open spaces , a community center and associated public parking facilities and /or structures . The Meridian Development Corporation ( " MDC" ) Public Improvement List set forth below identifies with specificity needed investments to support private investment in capital facilities . Capital facilities generally have long useful lives and significant costs . The overall Project and the infrastructure to support it are all consistent with the vision articulated in the City of Meridian Comprehensive Plan and as required in City development regulations . The cost estimates provided by architects and consulting engineers are based upon prices for similar construction in the broader area for 2020 and have not been adjusted for inflation , Estimated costs proposed to be incurred in implementing the Plan are as follows : Public Improvement List Proposed Public Infrastructure, Including Engineering, Design , Installation, Construction, and/or Reconstruction of: Improvements to 3rd Street Improvements to Broadway Avenue Intersection Improvements and Rail Crossing Safety Enhancements Pedestrian Improvements Streetscape Improvements Sewer Infrastructure Improvements Water Infrastructure Improvements Electrical Distribution Improvements RigWof-Way Landscaping Improvements Utility Relocations Lateral Relocation and Improvements Attachment 5 - I i Irrigation and Drainage Improvements Sub -total $ 1, 215, 000 Additional Public Parking Facilities and Open Space $ 1, 510,000 Civic Block Improvements Civic Block Site Improvements $ 1, 615 000 Structured Public Parking 4 250 000 Sub-Total $ 50865 ,000 Community Center Construction $ 6j450, 000 City of Meridian Community Center Contribution ( $3 , 000 , 0001 Net Project Area Cost Construction $ 3,450,000 Total Civic Block and Structure Parking Cost $ 12, 31510001 Grand Total $ 12, 0401000 It is understood the estimated costs detailed above will change over the life of the Plan due to inflation, further project refinement, timing and bidding . The cost estimates are a necessary assumption in determining economic feasibility and are estimates for the purpose of financial planning . Based on the assumptions made in the Study, the Project Area is estimated to generate $ 16, 286,437 in tax increment/ revenue allocation proceeds between 2020 and 2040 . Initial urban renewal planning costs are estimated to be funded by a $75, 000 interfund loan from MDC. Additionally, the Study assumes a $3,000, 000 contribution from the City to support the construction of the proposed community center . The City's anticipated contribution is from Parks and Recreation impact fees that have been collected for a community center , At this time the City has not obligated any funds from impact fees or the general fund for the proposed community center. The estimated total resources for the Project are estimated to be $1913611437 . As identified above, there are presently $ 12, 040, 000 of estimated total Project Costs related to the Project after the City of Meridian ' s contribution . The feasibility analysis assumes Projects will be implemented and advance4unded by property owners and /or Includes City Community Center Contribution. Attachment 5 - 2 developers . For purposes of Idaho Code § 50-2905 and the Study, it is assumed that any owner or developer participant in the Project will be reimbursed with tax increment/revenue allocation proceeds through an owner participation agreement ( OPA) negotiated by and between MDC and any owner and /or developer participant. Based on information from MDC staff, MDC currently administers OPAs in existing project areas utilizing 75 % or 90% reimbursement to the owner or developer participant from tax increment/revenue allocation proceeds . In analyzing the economic feasibility of the proposed Project, an assumption of a 75/25 split is used recognizing the actual split will be subject to any negotiated OPA . For purposes of determining economic feasibility of the Project, administrative costs ( District Operating Expenses ) over the 20-year life of the Project Area are estimated to be $968, 105 or approximately 6% of total estimated revenue . This amount was calculated using the assumption of 10% of annual tax increment/revenue allocation proceeds for administration of the Project Area or $ 50, 000 per year. The actual amount of administrative costs will be set forth and determined in the MDC' s annual budget; however, for purposes of economic feasibility an estimate of costs is necessary . The initial interfund loan from MDC for preliminary Project Area costs is estimated in the Study to be repaid at 5 % simple interest for a total obligation of $ 112, 500 . Considering the estimated revenue allocation proceeds over the life of the Project Area less the estimated Project costs, there is estimated to be a $ 100, 000 positive balance of at the end of the 20-year term , rendering the Project economically feasible . Attachments 5 . 3 and 5 .4 provide detailed information concerning revenue estimates and cash flow analysis . In analyzing the methods of financing, secure funding includes revenue allocation funds and is money the MDC is highly likely to receive should private development occur within the Project Area . The funds may not be in the MDC' s possession at the beginning of the Plan period, but it is virtually certain MDC will receive the funds should private development proceed as proposed . MDC may need to take specific actions to generate the funding, but those actions are within its powers . Despite the high probability of secure funding, no Project can proceed until a specific, enforceable funding plan is in place . I Potential funding is money that might be received by the MDC over the life of the Project Area . It is funding the MDC is eligible for and exists under current law; however, each potential funding source requires one or more additional steps or decisions before the MDC can obtain the resources, and the ultimate decision is outside of the MDC's independent control . The proposed City capital contribution to the community center and grant funds are examples of potential funding . Additionally, the issuance of bonds is not anticipated in this analysis . Potential funding is not assumed in determining economic feasibility. Attachment 5 - 3 i I Unfunded Projects, or portions of Projects are those lacking secure or potential funding . Unfunded Projects are not considered or assumed in determining economic feasibility . It is generally understood , the amount of tax increment/ revenue allocation contributed to the Project will vary from the assumptions and estimates used in the economic feasibility study depending upon actual revenue and the actual cost of the Projects . Other sources of funding for Projects may include, but are not limited to , • Local Improvement Districts ( LID ) • Business Improvement Districts ( BID ) Development Impact Fees • Franchise Fees • Grants from federal, state, local , regional agencies and /or private entities • Other bonds, notes and/or loans Summary of Estimated Cost of Operations and Improvements by Year Based on Assumptions (2020-2041) �# . . 4,:rtc� � w,::hr ,� � 4At�r� ,s #� k� ra ii y q Y` f'' ''� � �� «w-fi-u r . �;�,�. q " .c rs n - .,�,�,..;f•• s � izy, • i,t - v'` ��:tp 1 .P��vZh is z'� z # S,. . C sue -3# + i r . df 3 �'.`�x a �.ei""� .,�'�' �:��. y y � .c tqr �� i a ,�. •''� 3 t } 'i ls.. v ,C � � dy,.+,r S� �� dd� r kf � Rss. �r v^Y'P2 �� {�; �' .�#" ����'� �it'' a� �'# �rif� }'�s r � Jxuf'�1�"� � � � s � '� F•"+� ,�� i"•y a '��3 �f. .b� ;�i� '7 � 'SSf � sr 2020 $75 , 000 $0 $25,000 $0 � " 2500�. p ; 4' L90 2021 $0 $ 0 $ 25 000 $0 2022 $ 0 $ 0 $ 25,000 $ 0 2023 $447, 366 $ 0 $44,737 $40,000 $335, 525 Ya . 7 411, $4 wee;C12`t 2024 $456, 578 $ 0 $48,368 $45,000 $342A34 1 2025 $823 ,4091 $ 0 $ 50,000 $27, 500 $ 617,557 $'65y;Q5?7 2026 $840, 141 $ 0 $ 50,000 $0 $ 630, 106 .' a. r 6 ;Q4' 2027 $857,207 $ 0 $ 50,000 $0 $ 643,475 2028 $874, 615 $ 0 $ 50,000 $0 $8241615 1 2029 $892,371 $ 0 $ 50,000 $0 $842,371 }kg/Mil3 2030 $910,482 $ 0 $ 50,000 $0 $8601482 `0 B`2 2031 $928,955 $ 0 $ 50,000 $0 $ 878,955 E92N.89`._5` 2032 $947, 797 $ 0 $ 50,000 $0 $ 897,797 1 $ w47;79Af 2033 $967, 016 $ 0 $ 50,000 $0 $917, 016 2034 $ 986, 619 $ 0 $ 50,000 $0 $936, 619866`1;9 2035 $ 1,006, 614 $ 0 $ 500000 $0 $956, 615 2036 $ 11027, 008 $ 0 $ 50,000 $0 $977, 008 2037 $ 1,047, 811 $ 0 $50,000 $0 $9974811 0:4 $1 2038 $ 1, 069, 029 $ 0 $500000 $0 $ 1,019, 029fi `$�:;Oa7� 2039 $ 1109072 $ 0 $50,000 $0 $ 11040, 672y $ : 9dEi;72 2040 $ 11112, 747 $ 0 $ 500000 $0 $ 1,462, 746 7 6 2041 $ 0 $0 0 $0WE % >Q - _ �4x.'.5 `. . .:y.�:.. ,:-.� �,:r';< „r//r . .. . n..:x� Yi.. - ..r . :• ; . ' . i+x "}�,•„ry -•✓ • _. .� . _ • .va�y�e'+- _ I Attachment 5 - 4 ATTACHMENT 5. 2 Determination of Economic feasibility Based on Assumptions Based upon reasonable assumptions and recognizing MDC' s ability to prioritize Projects in its budget and negotiate the terms of any owner participation agreement with an owner and/or developer, the Plan is deemed to be economically feasible as the estimated revenue in the Project Area exceeds the estimated Project costs . The economic feasibility of the Plan is based, in part, on the following factors : • The value of new taxable private development proposed in the Project Area • The timing of the proposed taxable development • The nature of the propose taxable development The amount of tax increment/ revenue allocation proceeds to be generated by proposed development • The estimated cost of public improvement projects in 2020 dollars • That the Projects are assumed to be advance funded by any owner or developer in the Project Area to be reimbursed with tax increment/ revenue allocation proceeds overtime pursuant to negotiated owner participation agreements . • If estimated revenue projections equal or exceed estimated project costs, the Plan is deemed to be economically feasible. The following is a summary of the analysis and estimates of the factors used to determine the economic feasibility of the MDC Union District Urban Renewal Plan . Attachments 5 . 3 and 5 .4 provide a more detailed outlook on the revenues and expenses I n determining economic feasibility. The following assumptions were used in Attachments 5 . 3 and 5 . 4 to support of finding the Project meets the requirements of economic feasibility . o Land Value Increases @ 1% / Yr . o Improvement Value Increases @ 2 % / Yr. o Applicable Levy Rate is reduced from the 2019 certified applicable levy rates by an estimated 10% and held constant through the life of the Plan and Project Area . The Applicable Levy Rate does not include any exempted levies as identified in Idaho Code § 50-2908 o Total estimated Cost of Improvements over the life of the project : $ 12, 040, 000, after the City of Meridian ' s contribution to the community center in the amount of $ 3 , 000, 000 o Attachment 5 . 4 assumes 75 % of the annual available tax increment/ revenue allocation will be committed to reimburse an owner Attachment 5 - 5 or developer for advance-funded public improvements. It is understood and recognized the actual reimbursement percentage is a term to be negotiated under any OPA o Attachment 5 .4 provides for "Additional Principal" payments to any owner or developer if sufficient funds are available and provided for in any OPA In summary, based on the assumptions as set forth in Attachments 5 . 1 and 5 . 2, and as supported by Attachments 5 . 3 and 5 .4, it is evident the Project will generate adequate revenue within the Project Area to fund the necessary Projects rendering the Project economically feasible . 486M500-2807, v. 7 �I Attachment 5 - 6 I r� .a-:'e��" to w m •-, n w .-� N to r tD m v w H m N r M to v H N t0 M V m n O l0 tD d w d tD n n Ul M O' r. %z r% O w t� n l0 lD r` N U (] N h m O N V w r M H M N r� m H V l0 - M ' r r r w w w w w w m m m O m O O 0 IA O O 6 pp O O Q O O O O O O O p O O O d d O O d p pp p N P C) O O O O O O O O 4 O O O O O O IQn m IOn m m m VO) m tdn tdn m Rn IQn VOI Ln Lnn UO'1 Ul V) V} VY Vl Vl V? to w m H r in H N an n tD m IT w .-+ m N r ''fry m r o v o H r w to m H H H 0 00 N r v M m V H N 1D M V' m h O tD m Q w O tP r �:• -ar ,a T t0 m O n 'V N d w r` 1` tD t0 r� n m O N _ - 'R to N O Vt n m H N 'U tD w O N V' t0 m H _ V V co w co 00 w m m Ol 01 O" O O O O O H VI V) VI V . try V). V} Vi N N V} VT F . w N to N In to to w m m m to N to In m to m ID to - 0 l0 l0 l0 0 l0 m m t0 0 0 IO l0 1p t0 l0 t0 0 0 Q t0 o P o 0 o O 0 0 0 0 0 0 0 0 0 0 0 0 o Q o , O O O O O O Q O p d O O O O O O C? t7 O O O o o O O O D o O O O O O O O O O h w lD V co H m w t0 H w tD tD tl' O 00 w r � M H to w ' t N O O %T O to O w m In V • .� m r� N ' r O H w H H m w to w m tD O tO Co O to N 06 N 06 lD n V w <j .ti r� m Ti rY w m N r In r m co r H H f� co Lei 0 r N 'V 1A 0)m f.n _ 00 N tD N w Ln N Q 00 1 00 O W O t0 m ri ar r (M N m 00 ri V' 00 t-1 V' n N _ tD h N N m M m V V V O to to to w w t0 r H H H H H H H H H H H H H H H H 3 V, V> aA to to V). to vn to to to V} V} V> V} V> V, V> V) V> to Q1 w v ry m o rn r� WIT"� v o w Iwo a o w ti w v m °H° o m m r m H to r v to N v v N 0 w 0 tD 0 m o N tD w' O Dl t` N tD N C N 00 O m ID H w Lr 1D' O O tD N tD 00 N m N O m H lD In H m O 'V a' H V m - N N N m M 00 fn O r� V' N O m m m O H M tD m rn V tD o N 00 1 (�fn7 ( l N to r� O r h O m kn Q1 M r r H t-1 H N H r�-f rat r�-I t�-1 H H H H H H tr-1 y� - N V) Vy V1 VF V1 VT V1 V) Vl V} VY to VT VF to Vf to V1 to VF U t3 O m N V M r 00 c0 m w m to N O lD r O (— O V r� w N m to w m m V' V O 'V w r O w O m H O V N to V' O Q r H w m r to w H Ln m Ol m m M ID H Oi H w N 0 v tD m l0 m w m r t-1 H t0 00 In m w to r r m H rn o %H m w r; to 0 00 0 m tD P • � ,{.I o N oo ni to M r v r o m 0 m ff tti e m r r N m m m 0't V Q C to to to In w w t0 r - L - H H H H r1 H H H H H H H H H H H Vl V! V)- Vy V4 VF V) VT V} VT VT VT V) N U4 N N O O *FWD W , . O O � £ +_ � t � r m O if rTL'c �� r U1 t/1 ih V1 to Vy V? vy to VF to to to VY V? VT VT ur N V? V} O V m r� to w N m m N w w N H m O m CDN H to w 'C N m w H m w Q m H O N 0 N H N w N H N 4. ?' m m r m H cr tD m M tD P '7 w N r N r; N w V O %D 00 o N to n 0) r a w m H m to Di ri m to w v H H N N N N N m m m m C V q V to to in to tD t0 N N N N N N N N N N N N N N N N N N N N N VF Vl N N V) VT V) V! V) V! V! -LA V! SA in VY V} V) V} V} to � t t t t t t • I i t i i I t i • t t i i ?�r.... N 4A VF to VF V} V} V} +/t V> iA to V? Vy to V> Vl VT to V1 V} '!' < O V m r w w N m m N w w N H m O M O N H m w V N m w r m w O to H O N tP N H N tD N H N m m r m H V lD m m t0 O V w N r N !� N 00 "1 O y to 06 O N tff n Ol .-i V tD m N m t0 00 H N tD co r1 a ."1 H N N N N N m m m M Q V V V' to to m to tO t0 J� r •�` � � VT N VT M VL VT V} V} VT N N VS VS VT VI Vr V) � VY V1 Vf O H N (n V to w r 00 m O H N m V m w 1n w m O N N N N N N N N N N m m m m m ftt M M m m O N N 0 0 N 0 0 0 0 0 0 0 0 0 0 N N N N N 0 Attachment 5.3 Union District Urban Renewal Project Estimated Tax Increment Yield Assumptions: Values based on Ada County Assesor 2019 Data (latest certified numbers) 20%of Parcel R596000545 included in development parcel Included portion of Parcel R7596000545 rezones to Old Town from Light Industrial to be consistent with other included parcels Value of included portion of R7596000545 adjusted to reflect average assessed value of other two parcels($8.63/sq.ft.) Land values inflate at 1% per year Existing structures will be demolished and have no value Improvement values inflate at 2% per year Tax rate remains constant through life of the District with 10% reduction from 2019 rate New construction values based upon estimates Residential units will not be owner occupies and thus not subject to the Homeowners Property Tax Exemption Residential units will all be market rate rental units District Operating Expenses estimated at$50,000/year Balance of Revenue Allocation Yield will be available for capital investment and/or debt service Total balance($12.39 m) not necessarily available for reimbursement to any developer—subject to negotiated OPA 0 m N P '�W O 1 =e� M O M O N fN�l O siM m n b O l m n �C b b m l0 o in m of f� y+t -SG rt Rio: o r S n n "'n a. O O tl1 M O M N O �M• ,� q O n n O �1p; U1 f {MV O UPI Oa0 Igll '""a4' N M 1bp .n1 m �� N �q IPtI N , b N Ill pJ V = Yf H Y H � I-1 N ti ti K RN P�h 0 .mi Ip N ei $ r. n $ n O w n O R m lu o b N m w o $ 6 . ro O O v M. o a Iri of v yz ' m p o 0 0 0 N Ip W �a Ul N ti W ' 4n' $ N �ry ��-' m UI G1 UI O M x w N AA » N N » � O ID N O U1 Ul O O N N O O 60}I P n 0 I� n n o j O O O O O UwI C O O r'^yy N N v :.•:4 O C Cl N d Y' O 'Kr � fV Kn< 10 M fn vN M • �'M o m O N c; o Oti ri Oi , L2'-O� G t0 M w Nvl Ip Z01 O M O b b h H O 7b O KN b Ul 4K N O U1 N w N O 30 N N N N N ,.j�' pN N �Np N 1 0 N 5&.{p N % N yN N N N N N N K N N M �SQQHy�'{(� 1� }wG O M OO 100 N O 7� I W �I J. S CO W 0�1� W 4g&?}AHA O nP N h b IIPI Il ' `3w TM On1 n ';�: h N V 3 pp OI O 5'fC^; O O n n O 4 r M q m w O m UN� NCpO' v N w ? I NG•. o N If'�l INl1 N ?O O I O In C A Igi1 N N eni N 4 N NM O ri n O 1� O O pNo Y• Ny U 1 In O d .Q PfU w w b m FW. .na !c N N n N N %O m :s55ti y F v $ $ m § o e w $ e e e l3 $ I� 1Q CI S t0 N N t`7 Nrl1 f� O b ID O IO v N p UI O N br.'Y q m w o m lyy vI a 9m P b . :T` M N N O b N $ Ip m O IHD N b 10CYD O L V n 7� r% �};, i Q N N UI /ro, vry Y' o M m v ln',Np C! � ul VMS n .Pa N IVmi UI V � f.�a] N Mr N N ' » �� �`L }rvi.i O O P s0 O O Q L ;fir N Vf MM O N I I N :�;_ O C V tfq 0y4,,� ,',ter!. '^ °' a n O N N N N xy VI N N $ $ $ 8 nm m 8 m v a nm �: o ? ., o ' R R N o ui i o ri o ri o O V1 N f 4 N I I I in N ' U' m 1� H mLn PA N n a N 1 H H N =�? N N yN N N N N N N N N N N N N Op 3 lS V NIs y o g.j dd � ,� aw gti Nsd zy ® I�. ra �I C. Y qc w C Y N c C a kl X a n otN 0. A D _ } 6 W a .l V y bl UI C V SIN t e U V U V 3 S C p i Y C G 6 C r_3a o E E t f >" B am E w =� O M 6i C s5t as a s yam , b d a C > V }hcw Ci y b to q .�-.d„- P W r a Ps d 8 pOf %i,, c xvi o r'eM a - t ' u u Attachment 5.4 Union District Urban Renewal Project Cash Flow Analysis - Current Tax Rate Reduced by 10% AssuMerin,1 FnnWl RrvIc Area costs s uppo rttd by HOC Ifrte-qund Loar1 at ST5,000 to bL repaid at S%Interei[ Erilma"E lstrict(3 ptr at'rig EkpenSGS PS 550roN f Yr. Land Valws7 w1JI 1rirrease at a n arKrapenFI%■nfkuallp abler erM pfa or We al;trlcl•[anse Mali WE Emma" tmprovernrnt Values srll I Increase at an awvragir of 2%annvaLlY over•the lifo of the dlsItim-Conser vnVve Eslimahe Eglimlirtq mart Prgjr*ts will bC d S6pfrf8WrICr�4rALl1[CdYr4nCd tG be relmbµrs"wkh aealtahle revenum purauanl to nege#1i8c4 9PA CsOrcmud nWft brdevelap1-hFJ6*hef Ad,ranc-a-NnOed to be r6nibursed viith axa1L0biIt rerenuls pursuEh[to Vmpbtiated OPA PFoomecl PIANIc xnlm:61ructurc SS,27 4,Van Addkronal Yubllc Parklnq Fte lStrfsAnd Coco Spact ' $l,tijd',bdb {Wic,Imock�,SY�rpvf hCnt# Click Vack SLtm Impr&wcTne hts $1,hl},0134 Strwctut a INVIC Pafkktp $4rZSW0Q0 Sub-'feral $5,abs,oaf) r' rogdOnlhg CeiNer Car1111M !!on Y't.4Istlmated{4estructInn Car! #s,a5a,odo Lass Propq We!♦ritlr Capital CaotrlbulJai4 {33,oafl,oqa} Met a Istrrc[Cast 1,3,ai o,aCM Estlrna"Grand ToOl S1ibJ RGt tR Re;rn bu-mmf n# $7�,Oa6,904 fah P4 rpos"of dcgc{ Lmkmg e w om14;fcastbll ty,It rs olsumed lm m"pYlents+aril be,Ovance irindt0 bif Cwrlerz vndJcw devclapars to be■clm9porwd troml AvNl pbla reyemua. The sPrSiI%CRrFml of arty QPA trill be rm9ollaWO IFyancf b'"cen dalrelaper and/ar awner and FILL P,pSFtrtrg FU1YA H71aricc t5#4rmeWd Ia be-S100,1300 avaiGhle at Ql€tritt Trrt'IYithMkan MERIDIAN 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 - e 1 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 - 00E accepting the Report and authorized the MDC Chair, Vlce- 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 , 20201 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 i 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. I 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 I 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 . (c) The Union District Plan provides a feasible method for relocation of any displaced families residing within the Union District Project Area . ( d ) The portion of the Union District Project Area which is identified for residential uses is necessary and appropriate as there is a shortage g 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 p Y� acquisition of the area of residential uses is an integral part of and essential to the program of the City. (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- - 7 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 Chair of the Board ATTEST: ja �- 5ecret 4832- 1165- 1255 , v . 1 RESOLUTION NO . 20 - - 8 EXHIBIT 4 SUMMARY OF ORDINANCE URBAN RENEWAL DISTRICT ORDINANCE - 204 882 1 I NOTICE AND PUBLISHED SUMMARY OF ORDINANCE PURSUANT TO I.C. § 50-901 (A) CITY OF MERIDIAN ORDINANCE NO. 204882 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF MERIDIAN , APPROVING THE URBAN RENEWAL PLAN FOR THE UNION DISTRICT URBAN RENEWAL PROJECT, WHICH PLAN INCLUDES REVENUE ALLOCATION FINANCING PROVISIONS ; AUTHORIZING THE CITY CLERK TO TRANSMIT A COPY OF THIS ORDINANCE AND OTHER REQUIRED INFORMATION TO THE COUNTY, AFFECTED TAXING ENTITIES , AND STATE OFFICIALS ; PROVIDING SEVERABILITY; APPROVING THE SUMMARY OF THE ORDINANCE ; AND PROVIDING AN EFFECTIVE DATE, SUMMARY OF UNION DISTRICT PLAN The Urban Renewal Plan for the Union District Urban Renewal Project ("Union District Plan") was prepared by the urban renewal agency of the city of Meridian aka the Meridian Development Corporation (the "Agency") pursuant to the Idaho Urban Renewal Law of 1965 , Chapter 20 , Title 50, Idaho Code, as amended (the "Law") , the Local Economic Development Act, Chapter 29, Title 50, Idaho Code, as amended (the "Act") , and all applicable laws and ordinances and was approved by the Agency. The Union District Plan provides for the Agency to undertake urban renewal projects pursuant to the Law and the Act. The Union District Plan contains a revenue allocation financing provision pursuant to the Act that will cause property taxes resulting from any increases in equalized assessed valuation in excess of the equalized assessed valuation as shown on the original base assessment roll as of January 1 , 2020, to be allocated to the Agency for the urban renewal purposes . The duration of the Union District Plan is for twenty (20) years and includes a termination process for the Plan. The general scope and objectives of the Plan include but are not limited to roadway improvements, sidewalks and pedestrian ways, drainage improvements, public and private utilities such as sewer and water, irrigation facility improvements, right- of-way acquisition, remediation of environmental issues, enhancement of open areas and public recreation facilities, and such other elements required for the project and authorized by Idaho Code Section 50 -2007 and 50-2903 ( 13 ) . Any such land uses as described in the Plan will be in conformance with zoning for the City of Meridian and the Meridian Comprehensive Plan. The Plan identifies various public and private improvements which may be made within the Project Area, including the engineering, design, installation, and/or construction of a community/recreation facility, and related public improvements ; and the engineering, design, installation and/or construction of a public parking structure or structures and/or public surface parking lot and related public improvements . IDAHO PRESS-TRIBUNE EMMETT MERIDIAN KUNA BOISE WKLY C/O ISJ PAYMENT PROCESSING CENTER PO BOX 1570 POCATELLO ID 83204 (208) 467-9251 Fax (208) 475-2321 ORDER CONFIRMATION (CONTINUED) Salesperson: LEGALS Printed at 06/15/20 09 : 12 by sje14 ----------------------------------------------------------------------------- Acct # : 351462 Ad # : 2020247 Status : New LEGAL NOTICE ORDINANCE PURISUANT TO JBC.g 60.901(A)CITY OF MERIDIAN ORDINANCE NO.Z.— AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF MERIDIAN.APPROVING THE URBAN R E AL PLAN FOR THE UNION DISTRICT URBAN RENEWAL PROJECT.WICCH PLAN INCLUDES REVENUE ALLOCA- CLERK TO TRAFINANCINNSMIT PROVIAIOORpy AUTHORIZING THISI ORDINANCE THE AND OTHER REQUIRED INFORMATION TO TE COUN- TY,AFFECTED TAXING ENTITIES AND STATE OFFI- SUMMARY OFIDTHE ORDINANCE;;A APPROVING THE ND PROVIDING AN EFFECTIVE DATE. SDNNARY OF UNION DISTRICT PLAN The Jb Renewal Plan for me Union G-St Uroan F.- ­al Project('Union District PI.,,was p,e d byy me ur- "n renew.)agency of the city of Merid`aka the M dtlian e npment CORoralion(1M1e'Agency")pursuant fo Me... ho Uroan Renewal Law of 1865 CM1apt r 0,Tifle ,Id Catle,es amrentled(m T..A),tie Local Economic Develop ArrlA na"a"Vlkelwe1easwe'aana ommancea ana wsatap- provetl by me Agency.The Union Dlatnycyl Plan pyyroWtlea I" Me Lawnantl rM1. ,a_U.I.District Plan�'N'n,al bus rev will ca nc� s�pmpeityvrovlslling Irpm ofM1 Y Increases In izeltl assessetl valuation9n excess of e squalizetl as- u�aryat,2020.Ko all—d to meaAgency for M1e tl Union DIs- twenry(20f years an Inclutlas eterminetlon p TM1es e P generalscope and oblectives of the Plan inclutle but mbe0 to roadway im s'ltlewalks antl petles ys,tlrai smpublic antl private utildiesnsgh�es sewer'ena we er,Im9enon teamty improve- s,rigMoi-way acRuisi4m,remedlat'lon of envlranmenlel enhencemem of open areas antl public rcreaton fe- cslilles,antl sucM1 dher elemen6 raqulretl forme project antl authorized III Code Section 50-200T and 5O29D0(13). AnY such Jana us S.tl—n—m the Plan will be in tort folamce w'llh Iva Plain r the Ciry of Meritlian end the Merbi- pre ens Th;Plan itlentit' iou public M rate imprave- Me es Ineerin ay be made wimin the Projeq Area,inclutling munirylreneagpng feclliy,lletbn,anN�cPnblic ction al a mprp e- ana me en in.eatro,dearg win:tN�apnwtmmr pon- Po""" a prcbRa partsr�p re r red raa sorter public)auaace parkitg lot antl relafetl public Improvemanta. gehuroan Rened al PA.A c h e R..—Allocation AAn area—.1ng olseppreximately o15 saes al un— vNapea)antl antl rOM1I-oi way near me Glry's tlownown core TM1is aeerelly bonndea by E mahp A.<npe m me noon,E. ird S1reef to the esaL a p0alon of the reilroad aght-oi-way ana N.Main srceetro Inewest.T pan nI.Ily --d in the Plan antl is ep d m the map arv6iAMµm�,mp uuuuL ❑ J L] f O Mewrawrwo I1 ` 1 74 1 EXHUNTS TO THE ORDINANCE xhibitI Findings of the Planning a me Cgy of MerlHan,ltlaho,Valinatingnconmrmiry of menuroan Renewal Plan forme Unbn Dislrict Uroan Renew al Project wim me Ciry of Meritlian's CompreM1ensive Plan Merkian Press antl the ltlaho Statesmang Pubh.M1etl In N. EXhibit 9 Uk Renewal Pmn mr me U.I.District Ur- Reewal Projeef E.hibit4 ONire Summary This Ordinance shall be m lull force end eXect immediately rve ro January tpr P020 todmeue lxtec nt pe m d by IM1e Aq�m Upon ma enective seta M this Ordinance,th��eryryCiry Clerk'ls Atle Co my AsselasortlaTE IonMe epproprpa a oXklals of Ada Courtly Boazd M CouMy Cammiesionem,Ciry al Meritlian, Atle Count,Hghwey District."t School District Ada f WeatemXdth Mmd—Llbre'CPlatnt'ciry`A UI,CA--h nt DiatricL the Western Ada Recreation DiatrlcL aM the Stets Tex Commiasian a c, M mis Ordinance,.coFY al e legal tleaipbon of me bound"'of me Revenue Nb Area,antl A map ur plat malcatlng me Eountlaries of the Project Are.. In. at City'Hv Cgy of M...,aSS Ea ivBlroadway Avenue,Meridian,ltlaho. rr��pp.0 SSS20;Second R pp H.g BI02120 ;Thl,d Rearing antl tlP%,,i Hearitg: N092020 STATEMENT OF MERIDIAN Clry ATTORNEY AS TO ADEQUACY OF SUMMARY OF ORDINANCE NO.2-BU The undersigned,WMI.m L.M.Nary,Clry Attorney ai 1he Ciry Di Meridi.n,dlyyldaho,hereby ceatlles thppaYYt M1e is the Ie9N OMlneocetN 21,..Eho1 .C'dot V.,d anmld t And haespbUMJ its ems m be Ime end compM.and provides eotpa131.1K.tc ins pudic Wrsuant to Idaho Catle¢SD DATED this 10m day of June,2020. illlam.LM.Nary,ON Atmrney June 19,2020 IDAHO PRESS-TRIBUNE EMMETT MERIDIAN KUNA BOISE WKLY C/O ISJ PAYMENT PROCESSING CENTER PO BOX 1570 POCATELLO ID 83204 (208) 467-9251 Fax (208) 475-2321 ORDER CONFIRMATION Salesperson: LEGALS Printed at 06/15/20 09 : 12 by sje14 ----------------------------------------------------------------------------- Acct # : 351462 Ad # : 2020247 Status : New 1 MERIDIAN, CITY OF Start : 06/19/2020 Stop: 06/19/2020 33 E . BROADWAY AVENUE Times Ord: 1 Times Run: *** MERIDIAN ID 83642 LEG 2 . 00 X 176 . 00 Words : 838 Total LEG 352 . 00 Class : 0006 GOVERNMENT NOTICES Rate : L2 Cost : 308 . 78 # Affidavits : 1 Contact : MACHELLE HILL Ad Descrpt : ORD 20-1882 + MAP Phone : Given by: ADRIENNE WEATHERLY Fax# . P.O. # . Email : accountspayable@meridiancity Created: sje14 06/12/20 11 : 55 Agency: Last Changed: sje14 06/15/20 09 : 12 ----------------------------------------------------------------------------- PUB ZONE EDT TP RUN DATES MP A 96 S 06/19 ----------------------------------------------------------------------------- AUTHORIZATION Under this agreement rates are subject to change with 30 days notice . In the event of a cancellation before schedule completion, I understand that the rate charged will be based upon the rate for the number of insertions used. Name (print or type) Name (signature) (CONTINUED ON NEXT PAGE) i i UNION DISTRICT CITY OF MERIDIAN, ADA COUNTY, IDAHO E PINE AVE z 9: z m IT D z z 0 z -A ;a O S 8°38'29" E 46498 E IDAHO AVE M .. .. . ; ._c . . . . . .. . . . .. . :. . _ .. . ... . . F I w : : i :<: ?:>y ; a: `' :II ; is: ''':-ri`:: ; >:> ' :'?: ; : : % %%II% t: ;: 1.. II : `-?3a' >sii: i ;»:`<ii: : .... S 68°42'24" E 380.05' .. .: . . . _ .... . . . .. a::; : :: ;: ::;; c•;::::: E BROADWAY AVE . ` ,. ` '. . . . . ; 3 d .vNIQN 011. 1p .9 A F. 5 +p5 Alt1 s , N YI. ry �. 7. V / . UJIF . . . . .. .. . :: .. + . . . .: . . . . :: . . . . . .% . 0 .. . - .. - :.'. Z ., . ttloN ter>✓ic.: A� LcQ: 4 . / N 88030119" W 831 , 04 ' LL / � A V /' y�oq;n6Lu t 574 z , , a o 2'R 12 2 E FRANKLIN RDOF 89°32'43" W 13 18 1328. 1r - - - - - - - - - - - - - �'F BEAG1' NTs PROJECT: OWNERIDEVELOPER: 2030 S. WASHINGTON AVE. DWG # UNION DISTRICT EMMEIT, ID 83617 120018-EX ANNEXATION EXHIBIT BILL TRUAX „ P; 208 398-8104 PROTECT# MERIDIAN , ID. F; 208 398-8105 120018 SEC , 7 , T3N , R1E , B . M . 208-914 -6131 ADA COUNTY, IDAHO SHEET DATE: 2/2020 LanSSuveyirq LLG WWW. SAWTOOTHLS. COM 1 OF 1 The Urban Renewal Project Area and Revenue Allocation Area herein referred to is described as follows : An area consisting of approximately 16 acres of underdeveloped land and right- of- way near the City ' s downtown core and is generally bounded by E . Idaho Avenue to the north, E . Third Street to the east, a portion of the railroad right-of-way to the south and N . Main Street to the west . The area is more particularly described in the Plan and is depicted in the map below. EXHIBITS TO THE ORDINANCE Exhibit 1 Findings of the Planning and Zoning Commission for the City of Meridian, Idaho , Validating Conformity of the Urban Renewal Plan for the Union District Urban Renewal Project with the City of Meridian ' s Comprehensive Plan Exhibit 2 Notices of Public Hearing Published in the Meridian Press and the Idaho Statesman Exhibit 3 Urban Renewal Plan for the Union District Urban Renewal Project Exhibit 4 Ordinance Summary This Ordinance shall be in full force and effect immediately upon its passage, approval , and publication and shall be retroactive to January 1 , 2020 , to the extent permitted by the Act. Upon the effective date of this Ordinance , the City Clerk is authorized and directed to transmit to the County Auditor and Ada County Assessor, and to the appropriate officials of Ada County Board of County Commissioners , City of Meridian, Ada County Highway District, Joint School District No 2 , Ada County Ambulance/EMS , Meridian Cemetery District, College of Western Idaho , Meridian Library District, Mosquito Abatement District, the Western Ada Recreation District, and the State Tax Commission a copy of this Ordinance a copy of the legal description of the boundaries of the Revenue Allocation Area, and a map or plat indicating the boundaries of the Project Area. A full text of this ordinance and the Plan are available for inspection at City Hall , City of Meridian, 33 East Broadway Avenue , Meridia�Q� +CAI Qt2 rf �" i City of Cit erMili Mayor andCouncil �F� SEAL 4 By : Chris Johnson, City Clerk First Reading : 5/26/2020 ; Second Reading and Public Hearing : 6/02/2020 ; Third Reading and Public Hearing : 6/09/2020 STATEMENT OF MERIDIAN CITY ATTORNEY AS TO ADEQUACY OF SUMMARY OF ORDINANCE NO . 204882 The undersigned, William L . M . Nary, City Attorney of the City of Meridian, Idaho , hereby certifies that he is the legal advisor of the City and has reviewed a copy of the attached Ordinance No . 20- 18 82 of the City of Meridian, Idaho , and has found the same to be true and complete and provides adequate notice to the public pursuant to Idaho Code § 50M901A (3 ) . DATED this day of June , 2020 . \l/ William . L . M . Nary, City Attor y