2005 Idaho Code - 50-2903 — DEFINITIONS

                                  TITLE  50
                            MUNICIPAL CORPORATIONS
                                  CHAPTER 29
                        LOCAL ECONOMIC DEVELOPMENT ACT
    50-2903.  DEFINITIONS. The following terms used in this chapter shall have
the following meanings, unless the context otherwise requires:
    (1)  "Act" or "this act" means this revenue allocation act.
    (2)  "Agency" or "urban renewal agency" means a public body created
pursuant to section 50-2006, Idaho Code.
    (3)  "Authorized municipality" or "municipality" means any county or
incorporated city which has established an urban renewal agency, or by
ordinance has identified and created a competitively disadvantaged border
community.
    (4)  "Base assessment roll" means the equalized assessment rolls, for all
classes of taxable property, on January 1 of the year in which the local
governing body of an authorized municipality passes an ordinance adopting or
modifying an urban renewal plan containing a revenue allocation financing
provision, except that the base assessment roll shall be adjusted as follows:
the equalized assessment valuation of the taxable property in a revenue
allocation area as shown upon the base assessment roll shall be reduced by the
amount by which the equalized assessed valuation as shown on the base
assessment roll exceeds the current equalized assessed valuation of any
taxable property located in the revenue allocation area, and by the equalized
assessed valuation of taxable property in such revenue allocation area that
becomes exempt from taxation subsequent to the date of the base assessment
roll. The equalized assessed valuation of the taxable property in a revenue
allocation area as shown on the base assessment roll shall be increased by the
equalized assessed valuation, as of the date of the base assessment roll, of
taxable property in such revenue allocation area that becomes taxable after
the date of the base assessment roll.
    (5)  "Budget" means an annual estimate of revenues and expenses for the
following fiscal year of the agency. An agency shall, by September 1 of each
calendar year, adopt and publish, as described in section 50-1002, Idaho Code,
a budget for the next fiscal year. An agency may amend its adopted budget
using the same procedures as used for adoption of the budget. For the fiscal
year that immediately predates the termination date for an urban renewal plan
involving a revenue allocation area or will include the termination date, the
agency shall adopt and publish a budget specifically for the projected
revenues and expenses of the plan and make a determination as to whether the
revenue allocation area can be terminated before the January 1 of the
termination year pursuant to the terms of section 50-2909(4), Idaho Code. In
the event that the agency determines that current tax year revenues are
sufficient to cover all estimated expenses for the current year and all future
years, by September 1 the agency shall adopt a resolution advising and
notifying the local governing body, the county auditor, and the state tax
commission and recommending the adoption of an ordinance for termination of
the revenue allocation area by December 31 of the current year and declaring a
surplus to be distributed as described in section 50-2909, Idaho Code, should
a surplus be determined to exist. The agency shall cause the ordinance to be
filed with the office of the county recorder and the Idaho state tax
commission as provided in section 63-215, Idaho Code. Upon notification of
revenues sufficient to cover expenses as provided herein, the increment value
of that revenue allocation area shall be included in the net taxable value of
the appropriate taxing districts when calculating the subsequent property tax
levies pursuant to section 63-803, Idaho Code. The increment value shall also
be included in subsequent notification of taxable value for each taxing
district pursuant to section 63-1312, Idaho Code, and subsequent certification
of actual and adjusted market values for each school district pursuant to
section 63-315, Idaho Code.
    (6)  "Clerk" means the clerk of the municipality.
    (7)  "Competitively disadvantaged border community area" means a parcel of
land consisting of at least forty (40) acres which is situated within the
jurisdiction of a county or an incorporated city and within twenty-five (25)
miles of a state or international border, which the governing body of such
county or incorporated city has determined by ordinance is disadvantaged in
its ability to attract business, private investment, or commercial
development, as a result of a competitive advantage in the adjacent state or
nation resulting from inequities or disparities in comparative sales taxes,
income taxes, property taxes, population or unique geographic features.
    (8)  "Deteriorated area" means:
    (a)  Any area, including a slum area, in which there is a predominance of
    buildings or improvements, whether residential or nonresidential, which by
    reason of dilapidation, deterioration, age or obsolescence, inadequate
    provision for ventilation, light, air, sanitation, or open spaces, high
    density of population and overcrowding, or the existence of conditions
    which endanger life or property by fire and other causes, or any
    combination of such factors, is conducive to ill health, transmission of
    disease, infant mortality, juvenile delinquency, or crime, and is
    detrimental to the public health, safety, morals or welfare.
    (b)  Any area which by reason of the presence of a substantial number of
    deteriorated or deteriorating structures, predominance of defective or
    inadequate street layout, faulty lot layout in relation to size, adequacy,
    accessibility or usefulness, insanitary or unsafe conditions,
    deterioration of site or other improvements, diversity of ownership, tax
    or special assessment delinquency exceeding the fair value of the land,
    defective or unusual conditions of title, or the existence of conditions
    which endanger life or property by fire and other causes, or any
    combination of such factors, results in economic underdevelopment of the
    area, substantially impairs or arrests the sound growth of a municipality,
    retards the provision of housing accommodations or constitutes an economic
    or social liability and is a menace to the public health, safety, morals
    or welfare in its present condition and use.
    (c)  Any area which is predominately open and which because of obsolete
    platting, diversity of ownership, deterioration of structures or
    improvements, or otherwise, results in economic underdevelopment of the
    area or substantially impairs or arrests the sound growth of a
    municipality. The provisions of section 50-2008(d), Idaho Code, shall
    apply to open areas.
    (d)  Any area which the local governing body certifies is in need of
    redevelopment or rehabilitation as a result of a flood, storm, earthquake,
    or other natural disaster or catastrophe respecting which the governor of
    the state has certified the need for disaster assistance under any federal
    law.
    (e)  Any area which by reason of its proximity to the border of an
    adjacent state is competitively disadvantaged in its ability to attract
    private investment, business or commercial development which would promote
    the purposes of this chapter.
    (9)  "Facilities" means land, rights in land, buildings, structures,
machinery, landscaping, extension of utility services, approaches, roadways
and parking, handling and storage areas, and similar auxiliary and related
facilities.
    (10) "Increment value" means the total value calculated by summing the
differences  between the current equalized value of each taxable property in
the revenue allocation area and that property's current base value on the base
assessment roll, provided such difference is a positive value.
    (11) "Local governing body" means the city council or board of county
commissioners of a municipality.
    (12) "Plan" or "urban renewal plan" means a plan, as it exists or may from
time to time be amended, prepared and approved pursuant to section 50-2008,
Idaho Code, and any method or methods of financing such plan, which methods
may include revenue allocation financing provisions.
    (13) "Project" or "urban renewal project" or "competitively disadvantaged
border areas" may include undertakings and activities of a municipality in an
urban renewal area for the elimination of deteriorated or deteriorating areas
and for the prevention of the development or spread of slums and blight, and
may involve slum clearance and redevelopment in an urban renewal area, or
rehabilitation or conservation in an urban renewal area, or any combination or
part thereof in accordance with an urban renewal plan. Such undertakings and
activities may include:
    (a)  Acquisition of a deteriorated area or a deteriorating area or portion
    thereof;
    (b)  Demolition and removal of buildings and improvement;
    (c)  Installation, construction, or reconstruction of streets, utilities,
    parks, playgrounds, open space, off-street parking facilities, public
    facilities, public recreation and entertainment facilities or buildings
    and other improvements necessary for carrying out, in the urban renewal
    area or competitively disadvantaged border community area, the urban
    renewal objectives of this act in accordance with the urban renewal plan
    or the competitively disadvantaged border community area ordinance.
    (d)  Disposition of any property acquired in the urban renewal area or the
    competitively disadvantaged border community area (including sale, initial
    leasing or retention by the agency itself) or the municipality creating
    the competitively disadvantaged border community area at its fair value
    for uses in accordance with the urban renewal plan except for disposition
    of property to another public body;
    (e)  Carrying out plans for a program of voluntary or compulsory repair
    and rehabilitation of buildings or other improvements in accordance with
    the urban renewal plan;
    (f)  Acquisition of real property in the urban renewal area or the
    competitively disadvantaged border community area which, under the urban
    renewal plan, is to be repaired or rehabilitated for dwelling use or
    related facilities, repair or rehabilitation of the structures for
    guidance purposes, and resale of the property;
    (g)  Acquisition of any other real property in the urban renewal area or
    competitively disadvantaged border community area where necessary to
    eliminate unhealthful, insanitary or unsafe conditions, lessen density,
    eliminate obsolete or other uses detrimental to the public welfare, or
    otherwise to remove or to prevent the spread of blight or deterioration,
    or to provide land for needed public facilities or where necessary to
    accomplish the purposes for which a competitively disadvantaged border
    community area was created by ordinance;
    (h)  Lending or investing federal funds; and
    (i)  Construction of foundations, platforms and other like structural
    forms.
    (14) "Project costs" includes, but is not limited to:
    (a)  Capital costs, including the actual costs of the construction of
    public works or improvements, facilities, buildings, structures, and
    permanent fixtures; the demolition, alteration, remodeling, repair or
    reconstruction of existing buildings, structures, and permanent fixtures;
    the acquisition of equipment; and the clearing and grading of land;
    (b)  Financing costs, including interest during construction and
    capitalized debt service or repair and replacement or other appropriate
    reserves;
    (c)  Real property assembly costs, meaning any deficit incurred from the
    sale or lease by a municipality of real or personal property within a
    revenue allocation district;
    (d)  Professional service costs, including those costs incurred for
    architectural, planning, engineering, and legal advice and services;
    (e)  Direct administrative costs, including reasonable charges for the
    time spent by municipal employees in connection with the implementation of
    a project plan;
    (f)  Relocation costs;
    (g)  Other costs incidental to any of the foregoing costs.
    (15) "Revenue allocation area" means that portion of an urban renewal area
or competitively disadvantaged border community area the equalized assessed
valuation (as shown by the taxable property assessment rolls) of which the
local governing body has determined, on and as a part of an urban renewal
plan, is likely to increase as a result of the initiation of an urban renewal
project or competitively disadvantaged border community area. The base
assessment roll or rolls of revenue allocation area or areas shall not exceed
at any time ten percent (10%) of the current assessed valuation of all taxable
property within the municipality.
    (16) "State" means the state of Idaho.
    (17) "Tax" or "taxes" means all property tax levies upon taxable property.
    (18) "Taxable property" means taxable real property, personal property,
operating property, or any other tangible or intangible property included on
the equalized assessment rolls.
    (19) "Taxing district" means a taxing district as defined in section
63-201, Idaho Code, as that section now exists or may hereafter be amended.
    (20) "Termination date" means a specific date no later than twenty-four
(24) years from the effective date of an urban renewal plan or as described in
section 50-2904, Idaho Code, on which date the plan shall terminate. Every
urban renewal plan shall have a termination date that can be modified or
extended subject to the twenty-four (24) year maximum limitation. Provided
however, the duration of a revenue allocation financing provision may be
extended as provided in section 50-2904, Idaho Code.