Notice of Public Hearing
Urban Renewal Agency of the City of Chubbuck, Idaho
a/k/a Chubbuck Development Authority
Proposed Budget for Fiscal Year 2023
A public hearing for consideration of the proposed Urban Renewal Agency Project budget for the fiscal year that begins October 1, 2023, and ends September 30, 2024 will be held in Council Chambers, located at 290 E. Linden Ave, Chubbuck, Idaho, on July 18, 2023, at 5:30 p.m., pursuant to Idaho Code §§ 50-2006(d), 50-2903(5) and 50-1002. Written or oral comments about the proposed budget are welcome. Written comments may be submitted prior to the meeting to: Chubbuck Development Authority, c/o Devin Hillam, 290 E Linden Ave., Chubbuck, ID 83202.
The Agency budget funds the programs, services, and capital projects that the Agency Board and the City Council have determined to be important to meet the Agency’s strategic goals as described in the adopted urban renewal plans. Agency does not levy property taxes but rather, collects increment revenues generated in accordance with the urban renewal plans.
This public hearing on the proposed budget is required for formal adoption of the FY 2024 budget. The proposed expenditures and revenues for FY 2024 have been tentatively approved by the Chubbuck Urban Renewal Agency Board of Commissioners on May 16, 2023.
City Hall is accessible to persons with disabilities.
| Fund Name | FY 2022 Budgeted Revenues | FY 2023 Budgeted Revenues | FY 2024 Budgeted Revenues | ||||
| Property Tax Revenue (Increment) | |||||||
| Chubbuck Improvement Revenue Allocation Fund | $ 2,980,000 | $ 2,575,000 | – | ||||
| Pine Ridge Revenue Allocation Fund | 175,000 | 297,000 | $ 315,000 | ||||
| Northside Crossing Revenue Allocation Fund | 90,000 | 170,000 | 170,000 | ||||
| Harvest Springs Revenue Allocation Fund | – | 20,000 | 40,000 | ||||
| Total Property Tax Revenue | $3,245,000 | $3,062,000 | $525,000 | ||||
| Revenue Sources Other Than Property Taxes | |||||||
| Chubbuck Improvement Revenue Allocation Fund | 55,000 | 50,000 | – | ||||
| Pine Ridge Revenue Allocation Fund | – | 5000 | 5000 | ||||
| Northside Crossing Revenue Allocation Fund | – | – | – | ||||
| Harvest Springs Revenue Allocation Fund | – | – | – | ||||
| Fund Balance Carryover from FY23 | 44,800 | ||||||
| Total Revenues- All Sources | $3,300,000 | $3,117,000 | $574,800 | ||||
| Fund Name | FY 2022 Budgeted Expenditures | FY 2023 Proposed Expenditures | FY 2024 Proposed Expenditures | ||||
| Former Categories (Unused in FY23 and FY24) | |||||||
| Admin & Prof Services | $ 95,500 | – | – | ||||
| Dues & Subscriptions | $ 4,600 | – | – | ||||
| Other | $ 3,000 | – | – | ||||
| Capital Outlays | $ 3,196,900 | – | – | ||||
| Chubbuck Improvement Revenue Allocation Fund | |||||||
| Professional Service, Insurance, & Publications | $ 65,200 | – | |||||
| Owner Participation Agreements or other Agreements | – | 376,879 | – | ||||
| Debt Service | – | 420,000 | – | ||||
| Capital Improvements | – | 1,727,921 | – | ||||
| To Administrative Fund | – | 35,000 | – | ||||
| Fund Total | – | $ 2,625,000 | – | ||||
| Pine Ridge Revenue Allocation Fund | |||||||
| Administrative Expenses | – | 15,000 | $ 15,000 | ||||
| Bond Obligation | – | 287,000 | 300,000 | ||||
| Fund Total | 302,000 | 315,000 | |||||
| Northside Crossing Revenue Allocation Fund | |||||||
| Administrative Expenses & Capital Improvements | – | 34,000 | 34,000 | ||||
| Owner Participation Agreements or other Agreements | – | 136,000 | 136,000 | ||||
| Fund Total | – | 170,000 | 170,000 | ||||
| Harvest Springs Revenue Allocation Fund | |||||||
| Administrative Expenses & Capital Improvements | – | 5,000 | 8,000 | ||||
| Owner Participation Agreements or other Agreements | – | 15,000 | 32,000 | ||||
| Capital Improvements | – | – | |||||
| Fund Total | – | 20,000 | 40,000 | ||||
| Administrative Fund | |||||||
| Office & Financial Administration | – | 14,000 | |||||
| City Administrative Reimbursement | – | 15,000 | |||||
| Legal | – | 18,000 | |||||
| Publications | – | 1000 | |||||
| Dues & Subscriptions | – | 1,800 | |||||
| Fund Total | – | 49,300 | |||||
| Total All Expenditures | $ 3,300,000 | $ 3,117,000 | $574,800 | ||||
Published: July 7th and 14th, 2023.