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Announcement
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Idaho Falls Attracting Development Along the Snake River
Idaho Falls Looks to Attract Development Along Snake River
by Andrew Del Greco, Newschannel 6
Nov 15, 2007
The Snake River Urban Renewal District, which now extends into downtown, has been a success. About 20 years ago, there was an assessed value of $67 million in the area, and today, it's at $165, with about 1,000 new jobs. The city is now looking to expand the district even further.
The scene along the Snake River near Pancheri Drive and Taylor Crossing is one of building construction and commercial development - an emerging symbol of a new Idaho Falls. And then there's the scene along the opposite side of the river, between Yellowstone Highway - deteriorated buildings are a sign of the "old" days... a symbol of an industrial Idaho Falls.
Renee Magee, Idaho Falls Planning & Building: "I would describe it as an area that illustrates its past history, which has been primarily open storage, transportation and distribution."
Ida Hardcastle, Idaho Falls City Council: "In the old days, in times past, the river was used for commerce -- people didn't see it way the people see it now."
And the way people see it now is similar to how they saw Lindsay Boulevard - once an undeveloped land of trees, now a land of hotels.
Idaho Hardcastle: "My opinion is that would not have happened without Tax Increment Financing."
Renee Magee: "Tax Increment Financing is a mechanism by which you freeze an area, literally almost, in terms of taxes at a certain time... then any additional taxes that come into the area due to growth and development, those tax dollars go to the redevelopment agency to reinvest into that area."
And that is the city's plan for the Pancheri-Yellowstone renewal along the river - to encourage and entice developers by building infrastructure for them and demolishing heavy loads of rock.
Renee Magee: "By offering an opportunity for assistance to the developers, this area will develop into an area that recognizes that the Snake River is an asset... we could move toward services such as motels, restaurants, maybe even residential."
Hardcastle: "One of the things that every developer says that comes into our area is that we underutilize the river, the greatest asset as far as I'm concerned that we have in Idaho Falls is that the river runs through it."
The city council will meet on this again in December and if adopted the building of infrastructure on 30 acres along the Snake River will happen sometime in 2008.
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