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Urban Renewal Agency

In Idaho, Urban Renewal and related Tax Increment Financing are the most useful tools available for communities to generate employment opportunities and enhance private investment.          

Approximately 40 communities in Idaho have established an Urban Renewal Agency. Idaho Code has very specific requirements for the start-up, oversight and ongoing reporting by the agencies. 

An Urban Renewal Agency is a quasi-public entity that may help eliminate slum and blight as well as promote economic development through public infrastructure improvements. 

Urban Renewal Agencies have a maximum life of 24 years.  Our agency began in 2005 and will sunset no later than 2029.

 

Urban Renerwal Agency Miracle and Associates, Chtd.
Attn: Randy Valley
P.O. Box 1150
Mountain Home, Idaho 83647 Monday – Friday, 8am – 5pm
Closed Saturday - Sunday and Holidays


If you are inquiring about reports from previous years (i.e. agendas, financials, minutes) not listed, reach out and request via email.

Agenda & Monthly Minutes

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FAQ's

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  • Frequently Asked Questions

    Q:  How was the Agency formed?

    A:  The Mayor and City Council proposed forming the Urban Renewal Agency and adopting the agency boundary.  After public notices were printed in the paper a public hearing was held.  After the hearing the City Council approved a Resolution to form the agency.  The Agency boundary is reviewed and approved by the Idaho State Tax Commission and the Elmore County Assessor.  The physical size of the area and the total valuation within the area needed to be identified and certified.  All of these steps are required under Idaho Code.

     

    Q:  Who runs the Agency?

    A:  The Mayor names five Commissioners.  Those Commissioners are confirmed and then appointed by the City Council. The Commissioners have staggered, four year terms.  Not more than two Commissioners terms expire in the same year.  The Commissioners receive no payment for their service. The agency has a regular monthly business meeting.

     

    Q:  Does the City of Mountain Home provide money and oversight?

    A: No. The Urban Renewal Agency is independent.  The City provided initial funding for attorney, public notification and other start up fees.  The City was completely reimbursed when the agency received funds.  By Law, the agency gives a detailed financial report to the Mayor and City Council on or before March 31 each year.

     

    Q:  How is the Urban Renewal Agency funded?

    A: Tax Increment Financing, also called Revenue Allocation Financing, is a process governed under Idaho Code, Title 50.  The overall effort takes about a year to complete, and is briefly described as follows: The Agency, with assistance from an attorney and financial consultant develop the Plan.  It states what amount of money is needed, what the funds are to be spent on and what the repayment schedule will be.  It states the total amount of assessed valuation within the area and that amount becomes ‘The Base’.   It states the amount of growth expected because of the funds to be invested. The Plan is reviewed by the Tax Commission and each taxing entity within the jurisdiction (Elmore County in this instance).  At least one public hearing after proper public notice is required.  Upon approval of the Plan, by Resolution of the Urban Renewal Agency, various financial entities make offers to loan the amount requested and under the terms defined in the Plan.  After the funding is secured, the City is reimbursed and the project is designed, bid and completed.  The growth in Assessed Valuation is the ‘increment’.  Simply stated, the Agency receives property taxes from their "revenue zone".  With the funds received from the ‘increment’ the Agency repays the money borrowed initially and, if there is any money remaining after debt service, may enter into other projects within their mission.

About Us

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Mission

The mission of the Agency is to promote sustainable economic development and community enhancements through partnerships and public/private investment within the Urban Renewal Area.

What is Urban Renewal?

In Idaho, Urban Renewal and related Tax Increment Financing are the most useful tools available for communities to generate employment opportunities and enhance private investment.          

Approximately 40 communities in Idaho have established an Urban Renewal Agency. Idaho Code has very specific requirements for the start-up, oversight and ongoing reporting by the agencies. 

The Urban Renewal Agency is a quasi-public entity that may help eliminate slum and blight as well as promote economic development through public infrastructure improvements. 

Urban Renewal Agencies have a maximum life of 24 years.  Our agency began in 2005 and will sunset no later than 2029.

 

Projects

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  • Overview

    Since its inception in 2005, the Urban Renewal Agency of the City of Mountain Home has provided over $6,800,000 for infrastructure improvements and continues to invest in fiscally responsible projects that fit within the Idaho statutory requirements to relieve slum and blight and to provide economic development within the Urban Renewal Agency area.

     

  • Future Projects
       

    ADA Ramps & Sidewalks

    • Year: 2023
    • Funding: $110,000
    • Year: 2024
    • Funding: $230,000
    • Replacement and/or Repair Sidewalks Within URA not Included in Phase 1,2, or 3 of the Downtown Master Plan

    Railroad Park

    • Year: 2024, Site Plane Approved
    • Funding: $5.1M in Phases
    • City of Mountain Home and URA are Partnering in Developing Revitalization of RRP (Railroad Park)
    • Provide Gathering Place and Paved Parking
    • See "Railroad Park Plans" for additional renderings
    • GUHO Railroad Park proposal 
  • Past Projects

    Marathon Cheese:

    • Year: 2005
    • Funding: $2,200,000
    • Description: Infrastructure Improvements

    Railroad Park: 

    • Year: 2008
    • Funding: $12,000
    • Description: Park Improvements and Clock and Meandering Sidewalk Through the Park

    The Beall’s Building (295 North 2nd East):  

    • Year: 2011
    • Funding: $700,000
    • Description: Purchased Vacant Building, Renovation and Upgrades to Electrical and Plumbing to Meet Current Code Requirements

    Downtown Art  

    • Year: 2014
    • Funding: $6,000
    • Description: Continuing Downtown Alley Art Project

    ADA Ramps & Sidewalks  

    • Year: 2015-2020
    • Funding: $350,000
    • Description: Construct ADA Ramps and Sidewalk Improvements Within the Urban Renewal Agency Area

     

    Decorations, Flowers & Trees  

    • Year: 2014
    • Funding: $5,000
    • Description: Funding for Flowers and Christmas Decorations Within the Urban Renewal Agency Area

     

    Downtown Revitalization  

    • Year: 2018
    • Funding: $62,000
    • Description: Development and Completion of the Downtown Master Plan

     

    The Hub Building  

    • Year: 2018
    • Funding: $275,000
    • Description: Purchased Building to Encourage Downtown Development 
    • Sold in January 2024 for $230,000 to a private buyer

     

    The Hub Plaza  

    • Year: 2020
    • Funding: $40,000 - Vacant Lot
    • Funding: $875,000 – Design, Development & Construction
    • Description: Located Behind Dilly Deli June 2018 - Renamed Public Gathering Place (i.e. The Grove Plaza in Downtown Boise)

     

    Downtown Master Plan – Phase 1  

    • Year: 2019
    • Funding: $900,000
    • Description: Funding for Revitalization of Main Street

     

    Downtown Master Plan – Phase 3  

    • Year: 2021
    • Funding: $730,000
    • Description: Revitalization of North 2nd Street

     

    Railroad Park Pavilion/Gazebo

    • Year: 2021
    • Funding: $110,000
    • Description: Development of Gazebo and Sidewalks

     

    Antique Fire Truck

    • Year: 2022
    • Funding: $50,000
    • Refurbishing and Restoration of Antique Fire Truck Displayed at El Rancho Parking Lot

     

    The HUB

    • Year: 2022
    • An ERN (Exclusive Right to Negotiate) Signed in August of 2021 with Weitz and Company
    • Developer Purchases Building from URA, Raze and Construct New Multi-Story Building to Include Basque Restaurant, Commercial, Retail, and Residential Space
    • Estimated Construction Costs Exceeded $4,000,000
    • October 2022 Weitz and Company and URA Agreed to Terminate ERN
    • Future of Building Uncertain

    Mountain Home Sign

    • Year: 2022
    • Funding: $51,000
    • Installation and Lighting of “Mountain Home” Entry Sign on Main Street

     
    Mountain Home Training Academy
    • Year: 2023
    • Funding: $2,500,000 Investment from Private Developer (No URA Funding Provided)
    • DDA (Design Development Agreement) Signed by URA April 2021 with Elmore Development, LLC
    • Developer Fully Refurbished Building

     

Resources

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Commissioners

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Randy Valley

Chairman (Term Expires 1/1/2028)

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Skylar Jett

Commissioner (Term Expires 1/1/2028)


Hailey Owen

Commissioner (Term Expires 1/1/2027)


Alan Bermensolo

Commissioner (Term Expires 1/1/2026)


Laura Powell

Commissioner (Term Expires 1/1/2027)


HUB Building Auction & Sale Information

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On January 25th, 2024 the HUB building was sold at auction for $230,000

HUB Surplus Property Resolution 

HUB Sale Agreement

 

Railroad Park Renderings

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