Rexburg Urban Renewal Agency
Meeting Minutes – June 24, 2021
Rexburg, Idaho
Attendance
Members: Williams Riggins, Tisha Flora, Randall Porter, Doug Hancey, via Zoom Robert Chambers, and Doug Smith
City: Scott Miller, Scott Johnson
Visitors: Nicholas Miller and via Zoom Christian Anderson, Cameron Arial, and Sephlin Hepworth
Administrative Support: Krisi Staten from ECIPDA
Welcome
Chairman William Riggins called the meeting to order.
Administrative Items
The May 26, 2021 meeting minutes were reviewed. A motion to approve the minutes was made by Doug Hancey and a second by Tisha Flora. The motion was approved with all members saying “Aye.”
There were no invoices to approve and pay.
North Highway District:
The exclusive negotiation agreement was delivered to the developers last week. Once it’s signed the board members will be made aware.
Washington School District:
No discussion
Downtown District:
The contract for the downtown market analysis was reviewed for approval. The goal is to ensure the needs of the agency, City, and community are met with this mixed used parking structure. This analysis will also assess the demand, by whom, and a charging structure. Cameron Arial stated they should have a finished product in about 3 months. A motion to approve the downtown market analysis contract and amendment #1 was made by Tisha Flora and a second by Robert Chambers. The motion was approved with all members saying “Aye.”
University Boulevard District:
No discussion
North Interchange District:
Nicholas Miller with Hawley Troxell discussed the bond refinance. The original bond was for $3,500,000 at 3.32% variable interest, with rate reset every 3 years, with 3.32% being the floor. The bond is now at $3,257,799.89 at 3.05% fixed rate. July 1, 2021 the bond will reduce by approximately $50,000 with the reduction in debt reserve.
A motion to accept resolution 2021-2 bond amendment was made by Randall Porter and a second by Doug Hancey. The motion passed with all members saying “Aye.”
North Central District:
No discussion
General Discussion:
Scott reviewed the draft budget for FY2022. The budget hearing will be held at the next meeting. There are some legal changes within the State that will impact urban renewal districts revenue. Scott prepared the draft budget progressively considering projects that will happen in the next fiscal year. He will have a detailed presentation at the next meeting.
Next Meeting Date and Adjournment
The next meeting will be held June 16, 2021 at 12:30pm.
A motion to adjourn the meeting was made by Doug Hancey and a second by Tisha Flora. The motion passed with all members saying “Aye.”
Minutes prepared and submitted by Krisi Staten
Approved by: Board on ___________________________________________
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William Riggins, Chair