Idaho State Statutes - Idaho Attorney Directory

(1) To adopt a new urban
renewal plan or create a competitively disadvantaged border community area
containing a revenue allocation financing provision, the local governing body
of an authorized municipality must enact an ordinance in accordance with
chapter 9, title 50, Idaho Code, and section 50-2008, Idaho Code. To modify an
existing urban renewal plan, to add or change a revenue allocation, an
authorized municipality must enact an ordinance in accordance with chapter 9,
title 50, Idaho Code, and conduct a public hearing as provided in section
50-2008(c), Idaho Code. No urban renewal project, plan, competitively
disadvantaged border community area or modification thereto, or revenue
allocation financial provision shall be held ineffective for failure to comply
with the requirements of this section if compliance with the section is
substantial and in good faith and administrative authority of both the local
governing body and urban renewal agency does not extend beyond the municipal
boundary of the authorized municipality. Urban renewal plans and revenue
allocation financing provisions may be held ineffective if an urban renewal
area or revenue allocation area extends outside the municipal boundary of an
authorized municipality and a transfer of powers ordinance has not been
adopted by the cooperating county.
(2) A revenue allocation financing provision adopted in accordance with
this chapter shall be effective retroactively to January 1 of the year in
which the local governing body of the authorized municipality enacts such
ordinance.
(3) The local governing body of an authorized municipality shall prepare
a notice stating: (a) that an urban renewal plan or modification thereto or a
competitively disadvantaged border community area has been proposed and is
being considered for adoption, and that such plan or modification thereto or
proposal to create a competitively disadvantaged border community area
contains a revenue allocation financing provision that will cause property
taxes resulting from any increases in equalized assessed valuation in excess
of the equalized assessed valuation as shown on the base assessment roll to be
allocated to the agency for urban renewal and competitively disadvantaged
border community area purposes; and (b) that an agreement on administration of
a revenue allocation financing provision extending beyond the municipal
boundary of the authorized municipality has been negotiated with the
cooperating county having extraterritorial power and that the agreement has
been formalized by a transfer of power ordinance adopted by that county; and
(c) that a public hearing on such plan or modification will be held by the
local governing body pursuant to section 50-2008(c), Idaho Code. The notice
shall also state the time, date, and place of the hearing. At least thirty
(30) days but not more than sixty (60) days prior to the date set for final
reading of the ordinance, the local governing body shall publish the notice in
a newspaper of general circulation and transmit the notice, together with a
copy of the plan and recommendation of the urban renewal agency or the
municipality which by ordinance created the competitively disadvantaged border
community area, to the governing body of each taxing district which levies
taxes upon any taxable property in the revenue allocation area and which would
be affected by the revenue allocation financing provision of the urban renewal
plan proposed to be approved by the local governing body.

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