Meeting Minutes – October 27, 2021

Rexburg Urban Renewal Agency
Meeting Minutes – October 27, 2021
Rexburg, Idaho

Attendance
Members: Williams Riggins, Tisha Flora, Randall Porter, Doug Hancey, and Doug Smith via Zoom Robert Chambers, Traci Peterson
City: Scott Miller, Mayor Merrill, Alan Parkinson, Scott Johnson, Matt Neilson
Visitors: Amanda Larese, Shawn Boyce and via Zoom Sephlin Hepworth, Cameron Arial and Brian Mclure
Administrative Support: Krisi Staten from ECIPDA

Welcome
Chairman William Riggins called the meeting to order.

Administrative Items
The July 21, 2021 meeting minutes were reviewed. A motion to approve the minutes was made by Tisha Flora and a second by Doug Hancey. The motion was approved with all members saying “Aye.”

The invoices listed were motioned to approve and pay by Doug Hancey and a second by Tisha Flora. The motion passed with all members saying “Aye.”
1. Bank of Commerce: $450,022.77
2. DL Evans Bank: $98,495.09
3. ICRMP: $1,715.00
4. ECIPDA: $1,241.00
5. Clearwater Financial: $7,000.00
6. Redevelopment Association: $2,600.00
7. Elam & Burke: $83.00

North Highway District:
No discussion

Washington School District:
No discussion

Downtown District:
Cameron Arial with Clearwater Financial presented the draft market analysis report. Their firm took an outside in approach, meaning they gathered data regionally, locally, and then at the specific project. In summary the best viable option of the property would be mixed housing and retail with parking included. Upper class hospitality would be an optimal fit as well. They also looked at the option of a TIF district, but a deeper dive needs to be completed there. A short discussion of de-annexation of the property or sunset of the district was had. They recommend the agency move forward with an RFP for development services.

The site has a high walkability score due to it’s location to BYU-I, Broulims, and retail shopping. The market analysis looked at vacancies and sales of housing units, student housing, office, retail, and hospitality.

Krisi will send the draft market analysis out to the members for each to review in detail before the next meeting at which time the board will review the document in a working meeting.

University Boulevard District:
No discussion

North Interchange District:
No discussion

North Central District:
No discussion

General Discussion:
No discussion.

Next Meeting Date and Adjournment
The next meeting will be held November 17, 2021 at 12:30pm. This will be a working meeting to review the market analysis document.

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 ___________________________________________

X________________________________________________________________________
William Riggins, Chair