Moscow Urban Renewal Agency

Under Idaho law, every Idaho city has the capacity to empower an Urban Renewal Agency, or URA. The City must appoint commissioners and take certain legal steps to allow a URA to function. Once empowered, the URA can use tax increment financing to generate revenue to fund infrastructure for use in Urban Renewal Projects. The URA is the agency responsible for the financing and creation of the Urban Renewal Plan and the Tax Increment Financing District. 

The URA approved the plan and obtained approval from the City Council to proceed with the plan and the financing. The URA sold the bonds and bid for a general contractor to improve the Alturas Park property with public infrastructure, including streets, sidewalks, utilities and a public park. The URA is charged with pledging the increased tax money for payment of the bonds. 

When a URA has designated a specific project and formulated a plan for its implementation, it may designate that project area, and any surrounding area that might reasonable be expected to benefit from the Urban Renewal Project, as a revenue allocation area.