Year of creation: 2002
Size: 335 acres
Base-assessed value (pre-urban renewal): $1,395,916
Increment value 2021: $94,843,716
Projected termination date: 2022
The Center Point District consisting of 287 acres was created in 2002 under the “disadvantaged border community” provisions of the Urban Renewal Act to create jobs, address road and traffic control issues and extend infrastructure. The District has a 20-year life and will close in 2022.
Greenstone-Kootenai of Liberty Lake, Washington, was the original proponent. In 2005, the district expanded by 48 acres to add the Stateline Business Park, LLC of Amity, Oregon. In 2006, Greenstone-Kootenai sold approximately 240 acres to FourSquare Properties, of Carlsbad, California. FourSquare Properties formed The Pointe which now is home to Cabela’s and Walmart. The remaining open land is being developed as retail, manufacturing and light industrial uses.
The Post Falls URA assisted in the extension of sewer, water and public utilities to serve this District. Improvements have been made to Seltice Way and interior thoroughfares, and circulation streets have been constructed, including sidewalks, drainage and other public improvements to support major commercial development in this District. The Agency provided one third of the funding to assist the City to construct a new water reservoir to improve water services and water pressure throughout the western portion of the City. The Agency has agreed to reimburse developer partners for the construction of several new sewer lift stations that serve the overall District.
The District has attracted three large employers who have built new buildings to accommodate their commercial and service operations. These include: SYSCO, a major food distributor which opened a 146,000 sq. ft. facility in 2005 and currently has 110 employees. Cabela’s opened a 250,000 sq. ft. retail and distribution facility in November of 2007 and has 185 employees. Walmart opened in August 2010. It boasts 154,000 sq. ft. of retail space and employs 230.
A portion of the plan for this District includes the construction of support and frontage roadways to accommodate the planned interchange at Beck Road and Interstate 90 which the proponent will construct in partnership with the State Department of Transportation pursuant to the STAR legislation.
As of 3/22/2021 the District’s assessed value has increased over $86.6 million.
CENTER POINT PLAN BOOK
Resolutions and Ordinances
District Review – July 2014