Hearings will cover ignite cda property de-annexations

COEUR d'ALENE — Public hearings will be held at 8 a.m. Wednesday on two proposed Coeur d'Alene City Council ordinances that will, if approved, complete the process of removing certain properties from two of the city’s urban renewal districts.

Each ordinance represents one of the two urban renewal districts, the Lake District and River District, where property is controlled by ignite cda, the city’s urban renewal agency.

According to a staff report by City Administrator Jim Hammond, the de-annexation effort, if successful, would bring an additional $500,000 of revenue to the city.

"Under the direction of Mayor (Steve) Widmyer and with council approval, staff has been working with ignite cda to remove properties within both of the city's URDs in order to direct some of the tax revenue generated within the two districts to the affected taxing districts," Hammond wrote. "This will enable the use by the city of some of the enhanced revenue prior to closure of the districts."

A financial analysis, Hammond wrote, was completed and found that there is still sufficient cash flow in both districts going to ignite cda which will allow the organization to meet their current and future obligations.

Other local taxing districts, including Kootenai County and North Idaho College, would receive additional revenue should the urban renewal district de-annexations occur.

The meeting, which is open to the public, will be held in the old council chamber in City Hall, 710 East Mullan Avenue, Coeur d'Alene.