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Next Commissioner Meeting:

 August 19, 2010

7:00 am

FY 2011 Budget Hearing   August 19, 2010

 

 

 

 

East Post Falls Urban Renewal District

District Summary | Riverbend | Expo | City Center | West Seltice II | East Post Falls | Center Point
West Seltice (closed)


View Detailed East Posf Falls URD Map
East Post Falls - Large Map

District Year of
Creation
Size (acres) Base assessed value
(Pre-urban renewal/TIF)
"Increment value"(assessed value generated through urban renewal) Projected
Termination
Date
East Post Falls 2002 469 $66,362,130 $64,922,410 2015
East Post Falls East Post Falls East Post Falls

The East Post Falls has three sub-districts that have formed to accommodate either different proponents or different objectives.

The East Post Falls District was established in 2002, with 469 gross acres. The City of Post Falls is the proponent. Goals for this District's infrastructure improvements are primarily traffic-related. Modifications have been made to the Highway 41/Interstate 90 area already. Many more improvement projects are identified, however, as this District is a regional traffic hub. The East Post Falls District plan will terminate in 2015. At the request of the City of Post Falls, the District boundaries have been expanded north along Highway 41 to encompass 972 total acres.

The Post Falls URA extended sewer lines throughout this District and enhanced water distribution. Additional streets were constructed in the District to enhance circulation and expand the opportunity for frontage commercial development (along Highway 41). Additional traffic improvements and major circulation roadways are planned, including the possibility of an enhanced Highway 41 / Interstate 90 interchange and an additional interchange or "fly-over" at Greensferry Road and Interstate 90. Improvements to date have generated a total of 522 new service, medical, manufacturing and financial jobs in the District, including the development of several major retail facilities and the North Idaho Advanced Care Rehabilitation Hospital. All public improvements completed to date have been dedicated to the City of Post Falls.

Other improvements currently underway include infrastructure and public roadways to accommodate a major commercial and housing development. The URA is only providing TIF reimbursement for the commercial development, however the commercial development will support one assisted living facility for senior citizens and two workforce housing developments (one consisting of small lot single family homes and one consisting of an 80 condominium units selling in the $130,000 range) within the District. The proponent, in working with the Agency, has agreed to provide a large site for a new school (site to be donated to the Post Falls School District) and a site for a new fire station.

Private Sector Employers - Number of Employees attracted to the East Post Falls Urban Renewal District

The East Post Falls Urban Renewal District (created to address blight, provide sewer extension and address traffic issues along the Highway 41 corridor): This District was created in 2005 and has a ten year life (close in 2015). To date employers providing a total of 522 new jobs have located into this District in newly constructed buildings:

Job Type Number of Jobs
Service 273
Medical 180
Manufacturing 40
Financial 29
TOTAL 522

A total of 52 new service, medical and manufacturing employers have built or leased newly constructed commercial space in this District over the past two years. Major employers include Spokane Teacher's Credit Union, Stan-Craft Boat, North Idaho Advanced Care Rehabilitation Hospital, Steel Structures of America and Wal-Mart. Additionally Life Care Centers, Inc. has just started construction on a major housing and care development for senior citizens within the District.

In addition 80 new "workforce" condominium units selling for an average price of $130,000 (lowest price for a unit is $123,900 have been built. One additional workforce housing development is under construction.