Rexburg Urban Renewal Agency
Meeting Minutes – February 15, 2023
Attendance
Members: Williams Riggins, Tisha Flora, Mike Glasscock, and Dustin Parkinson.
Members via Zoom: Traci Peterson
City of Rexburg: Matt Nielson
Administrative Support: Taylor Carr
Guests: Chief Corey Child
Welcome
Chairman William Riggins called the meeting to order. Chairman Riggins formally welcome Madison County Commissioner Dustin Parkinson who was appointed to the Board after the November 2022 election.
Administrative Items
- The January 18th Meeting Minutes were reviewed. A motion to approve the minutes was made by Tisha Flora and a second was made by Traci Peterson. The motion passed unanimously with all members saying “aye.”
- Matt Nielson presented the invoices listed below, which totaled $3,004.50. Mike Glasscock made a motion to approve the invoices listed as of February 14th. The second was made by Tisha Flora. The motion passed unanimously with all members saying “aye.”
- Clearwater Financial: $2,600
- Altura Community Consulting: $292
- Services rendered for the first quarter of the 2023 Fiscal Year.
- Elam & Burke: $112.50
- Services rendered for the dissolvement of the Washington District.
Potential Fire Station Project
Chairman Riggins welcomed and turned the time over to Madison Fire Department Chief Corey Child to present. Chief Child informed the Board of the current need of administrative office space for emergency aid, especially for the 911 Dispatch Center, which is currently housed in 700 square feet of space. Chief Child presented the idea of adding a second floor over the current engine bays at the Downtown station to provide a new, larger location for the 911 Dispatch Center, training space, and administrative office space for the Department. The building was built in 2015 and prepared to eventually build a second floor above the current station’s truck bays.
Chief Child explained the makeup of the current employees and board of the Department, which include the county, city, and medical director. The Department is unique because it has three entities functioning under one creating a unified, efficient emergency service operation.
Aside from the current needs of Madison County, there is a desire for a regional dispatch station with Clark, Jefferson, Fremont, Madison, and Teton counties. The regional Dispatch would be located in Madison County because of its large population area. The addition on the Station would allow for the Regional Dispatch Center to be located at the fire station, if it comes to fruition. The expansion would add 5,700 square feet of office space to the current fire station. For the time being, for the current local 911 Dispatch Center needs, only 1,900 square feet would be finished to be used, leaving the remaining 3,800 square feet for any future needs. The expansion would total $1.75 million.
Chief Child presented three other projects that are also in development to meet the needs of the County. The Department has purchased land at the Thornton exit to build a station and deep well to accommodate the area’s growth. The Madison School District has donated 3 acres of land for an accredited training program through the school. The Department would also like to purchase land in Hibbard to accommodate future growth in that area, as well.
The highest priority project is the second-floor addition at the Fire Station. Other options have been presented to accommodate the current 911 Dispatch Center like converting jail cells into office space. Chief Child shared his thoughts that converting the unused space at the station would benefit the Downtown Urban Renewal District, would be cheaper than purchasing new land, and would boost morale for Dispatch employees because of the new, brightly lit space.
Projects were presented to inform the Agency of opportunities they could potentially invest in.
Chairman Riggins thanked Chief Child for his extensive research and effort that was put into the presentation. Discussion was had about what money was put into the project when the station was originally built. At the time, in 2015, the Agency gave $870,000 to the project. For the Agency to donate the money to this project, however, a new statute (50-2905A) requires a public vote to occur if public resources are put towards a project that will cost more than $1 million. It was decided that Agency Members would do their research on the statute and any alternative options available. Matt reminded the members and Chief Child that the Downtown District will be expiring in 2028, and to keep that in mind for project development.
Questions were again asked about the future regional Dispatch Center and its logistics. Chief Child reminded members that the need is still now, but there would be room in the expansion for the dream of a regional Dispatch Center.
Financial Review
Matt Nielson presented the current balance sheet for each of the Agency’s Urban Renewal Districts. Washington Blvd District has been removed. The State Treasurer LGIP, Diversified Bond Fund, and TVI have been making good returns around 3-5% overall. The Agency has $8,124,136 in its accounts. Mike Glasscock had a concern that the University has a negative number under DBF Unrealized Gain/Loss. Matt explained that as the Agency goes out and invests, every month a statement is received and the investment is valued according to the market worth, per month. Although these investments will not be sold and were purchased to hold to maturity, Governmental Accounting requires the market worth to be booked. It would only be important if the Agency’s standing needed to be known because they were selling.
Matt presented the proposed budget, current standing, and forecast of each District.
North Highway: Has only $68 in its account, so it will be closed.
Washington Blvd: Now closed but is shown on the budget to show what occurred last year. Downtown District: $900,000 in taxes last year, with better interest returns than previous years. Budget shows what is available.
University District: Had a larger carryover from previous years – close to $2 million and brought in $464,000 from taxes. $1.6 million is budgeted for projects with fiber and railroad. It was noted that fiber will be drawn from all Districts, overall.
North Interchange District: revenue came from a bond and carried over $1.5 million from last year. The district received less taxes last year because Walmart was revalued, and taxes were lowered, resulting in lower income for the District. Tisha raised a concern that projects should be evaluated because the proposed carwash may not be occurring anymore, which was going to receive sewer and water from the Agency.
North Central District: There will be an increase in property tax received because a five-year tax exemption Basic American had after a recent expansion, has expired. The fairground study is still budgeted for, which would determine what the land could be developed into.
Other Business
The proposed Fire Station expansion was brought up. Concerns were expressed about not having enough money in the District to accommodate the project, along with all the other projects planned. Concerns were expressed about timelines for projects and that there may not be room for more in that District. Chairman Riggins explained how much further projects have moved in the last month, compared to the last year. Traci thanked Matt for the report he presented. She mentioned that since joining the board 5 years ago, the City has taken such good care of the Agency to make sure that no project was ever unsuccessful. An executive session was requested for the next meeting to discuss the Downtown District.
Minutes prepared and submitted by Taylor Carr.
Minutes approved by the Board on March 15, 2023.
Signed: William Riggins, Chair