LEGAL NOTICE
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, 2022, and ends September 30, 2023 will be held in Council Chambers, located at 290 E. Linden Ave, Chubbuck, Idaho, on August 16, 2022, 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 2023 budget. The proposed expenditures and revenues for FY 2023 have been tentatively approved by the Chubbuck Urban Renewal Agency Board of Commissioners on July 19, 2022. City Hall is accessible to persons with disabilities.
| Estimated Revenues | ||||||
| Fund Name | FY 2021 Budgeted Revenues | FY 2022 Budgeted Revenues | FY 2023 Proposed Revenues | |||
| Property Tax Revenue (Increment) | ||||||
| Chubbuck Improvement Revenue Allocation Fund | $2,575,000 | $2,980,000 | $ 2,575,000 | |||
| Pine Ridge Revenue Allocation Fund | 175,000 | 175,000 | 297,000 | |||
| Northside Crossing Revenue Allocation Fund | – | 90,000 | 170,000 | |||
| Harvest Springs Revenue Allocation Fund | – | – | 20,000 | |||
| Total Property Tax Revenue | $2,750,000 | $3,245,000 | $3,062,000 | |||
| Revenue Sources Other Than Property Taxes | 50,000 | 55,000 | 55,000 | |||
| Fund Balance Carryover | – | – | – | |||
| Total Revenues- All Sources | $ 2,800,000 | $ 3,300,000 | $ 3,117,000 | |||
| Proposed Expenditures | ||||||
| Fund Name | FY 2021 Budgeted Expenditures | FY 2022 Budgeted Expenditures | FY 2023 Proposed Expenditures | |||
| Former categories (unused in FY23) | ||||||
| Admin & Prof Services | 300,000 | 95,500 | – | |||
| Dues & Subscriptions | 5,000 | 4,600 | – | |||
| Other | 3,000 | 3,000 | – | |||
| Capital Outlays | 2,492,000 | 3,196,900 | – | |||
| Chubbuck Improvement Revenue Allocation Fund | ||||||
| Professional Services, Insurances, & Publications | – | – | $ 65,200 | |||
| Owner Participation Agreements or other Agreements | – | – | 376,879 | |||
| Debt Service | – | – | 420,000 | |||
| Capital Improvements | – | – | 1,727,921 | |||
| Administrative Expenses | – | – | 35,000 | |||
| Fund Total | – | – | $ 2,625,000 | |||
| Pine Ridge Revenue Allocation Fund | ||||||
| Administrative Expenses | – | – | 15,000 | |||
| Bond Obligations | – | – | 287,000 | |||
| Fund Total | – | – | 302,000 | |||
| Northside Crossing Revenue Allocation Fund | ||||||
| Administrative Expenses & Capital Improvements | – | – | 34,000 | |||
| Owner Participation Agreements or other Agreements | – | – | 136,000 | |||
| Fund Total | – | – | 170,000 | |||
| Harvest Springs Revenue Allocation Fund | ||||||
| Administrative Expenses & Capital Improvements | – | – | 5,000 | |||
| Owner Participation Agreements or other Agreements | – | – | 15,000 | |||
| Fund Total | – | – | 20,000 | |||
| Total All Expenditures | $ 2,800,000 | $ 3,300,000 | $ 3,117,000 | |||
Publish: August 5th and 12th, 2022.