2005 Idaho Code - 50-2905 — RECOMMENDATION OF URBAN RENEWAL AGENCY

                                  TITLE  50
                            MUNICIPAL CORPORATIONS
                                  CHAPTER 29
                        LOCAL ECONOMIC DEVELOPMENT ACT
    50-2905.  RECOMMENDATION OF URBAN RENEWAL AGENCY. In order to implement
the provisions of this chapter, the urban renewal agency of the municipality
shall prepare and adopt a plan for each revenue allocation area and submit the
plan and recommendation for approval thereof to the local governing body. The
plan shall include a statement listing:
    (1)  The kind, number, and location of all proposed public works or
improvements within the revenue allocation area;
    (2)  An economic feasibility study;
    (3)  A detailed list of estimated project costs;
    (4)  A fiscal impact statement showing the impact of the revenue
allocation area, both until and after the bonds are repaid, upon all taxing
districts levying taxes upon property on the revenue allocation area; and
    (5)  A description of the methods of financing all estimated project costs
and the time when related costs or monetary obligations are to be incurred.
    (6)  A termination date for the plan and the revenue allocation area as
provided for in section 50-2903(20), Idaho Code. In determining the
termination date, the plan shall recognize that the agency shall receive
allocation of revenues in the calendar year following the last year of the
revenue allocation provision described in the urban renewal plan.
    (7)  A description of the disposition or retention of any assets of the
agency upon the termination date. Provided however, nothing herein shall
prevent the agency from retaining assets or revenues generated from such
assets as long as the agency shall have resources other than revenue
allocation funds to operate and manage such assets.