Urban renewal agency shares 'great story'

COEUR d'ALENE — Coeur d'Alene's urban renewal agency, ignite cda, had a successful 2016 and is prepared for a busy 2017, said Executive Director Tony Berns.

A draft report detailing the agency's efforts in 2016 will be presented this week to ignite cda's board of commissioners for approval, prior to Berns presenting the completed document to the Coeur d'Alene City Council in February. In an interview with The Press Monday, Berns said the annual report, which focuses on major projects and long-term goals, provides council members and the public with a snapshot of ignite's work.

"We've got a great story to tell the community regarding our success," Berns said. "Hopefully the council feels the same way."

One of the most important elements of the agency's efforts in 2016, according to Berns, was the completion of a partial de-annexation of property in both of ignite's urban renewal districts, the Lake District and River District. It was the first de-annexation of its kind in the state, and Berns said it returned approximately $1.3 million to local taxing entities.

Multiple funding agreements, according to the report, were made between the agency and the city of Coeur d'Alene during 2016. Among those agreements was an additional $1.5 million for the next phase of the Four Corners Master Plan project, which includes construction of public improvements between Memorial Field and River Avenue.

The agency also agreed to provide more than $4 million for the revitalization of Seltice Way, and is the primary funder of the project that aims to repave the old highway and add two separate roundabouts. Work on the project is scheduled to begin this year.

This year, Berns added, will also see the agency work closely with city officials to potentially break ground on a new parking structure in downtown Coeur d'Alene.

"We're ready for a busy 2017," Berns said.

The report ends with two documents detailing the agency's finances in fiscal year 2017. According to the report, ignite ended the fiscal year in control of assets worth $12.2 million, and a reported fund balance of $11.8 million. In addition, $6.8 million in revenue came into the agency through tax increment financing.

Ignite cda, according to the report, had $5.4 million in expenditures for the fiscal year.

"The agency is in great financial shape," Berns said. "We have resources we can invest back in the community, which is one of the most rewarding aspects of urban renewal."

A complete copy of the draft report can be found on the agency's website, www.ignitecda.org. Wednesday's meeting of the ignite cda board of commissioners, which takes place in the community room of the Coeur d'Alene Public Library at 4 p.m., is open to the public.