[00:00:07]
          THE IDAHO FALLS REDEVELOPMENT AGENCY. I AM NOT LEE RADFORD. I'M BRANT THOMPSON, AND UNBEKNOWNST TO ME, I'M GOING TO CHAIR THIS MEETING TODAY. WE DO HAVE A QUORUM. WE HAVE LEE RADFORD, OUR CHAIR ON ON VIDEO CALL. SO. I GUESS AT THIS TIME I'D ASK FOR ANY MODIFICATIONS 
          [1. ACTION ITEM: Modifications, Additions, Changes to the Agenda]
TO THE AGENDA. HEARING NONE, WE'LL MOVE ON TO THE. APPROVAL OF THE MINUTES FROM OUR MEETING 
          [2. ACTION ITEM: Approval of Minutes: March 19, 2026]
ON MARCH 19TH. ARE THERE ANY CHANGES TO THE MINUTES? HEARING NONE, I'LL ACCEPT THE MOTION THAT THE MINUTES BE ACCEPTED. I MOVE WE APPROVE THE MINUTES OF THE MARCH 19TH MEETING. IS THERE A SECOND? SECOND. OKAY. IT'S BEEN SECONDED, MOVED AND SECONDED. ALL IN FAVOR, SAY AYE. 
          AYE, AYE. OPPOSED. ALL RIGHT. THANK YOU. HEARING NO OPPOSITION WILL MOVE ON TO THE 
          [3. ACTION ITEM: Approval of Expenditures and Finance Report]
FINANCE REPORT. I'M NOT. I MEAN, I CAN SEE WHAT THESE THE CATEGORIES THEY ARE. WE HAVE BECKY THOMPSON FOR HER SERVICES. BRAD KRAMER FOR WORK ON THE RIVER COMMONS REVENUE ALLOCATION FUND PROJECT. AND BRAD, WHAT EXACTLY IS THAT? THAT'S ACTUALLY MOSTLY FOR ADMINISTRATION WORK. SO STARTING NEXT MONTH, I'M GOING TO BREAK OUT THOSE INVOICES FOR THE EXECUTIVE DIRECTOR VERSUS THE OTHER PROJECTS. ADMINISTRATIVE TO THROUGH YOU TO THE CITY OR JUST TO YOU. IT'S MOST OF THAT IT'S EXECUTIVE DIRECTOR SERVICES. 
          OKAY. ALL RIGHT. THANK YOU. THAT WAS $3,442.50. CITY OF IDAHO FALLS $880 FOR ADMINISTRATIVE SERVICES. THOSE ARE ALL UNDER THE RIVER COMMONS AREA. WE HAVE. AN ADDITIONAL EXPENSE FOR ADMINISTRATIVE EXPENSES FOR THE CITY OF $100 FOR EAGLE RIDGE AND $300 FOR THE CITY OF IDAHO FALLS, FOR ADMINISTRATIVE SERVICES FOR THE JACKSON HOLE JUNCTION DISTRICT. 
          ARE THERE ANY CORRECTIONS OR ADDITIONS TO THE FINANCE REPORT? YES, CASSIE, I WANT TO TALK ABOUT THAT. YEAH. THANK YOU, MISTER CHAIR AND BOARD OF COMMISSIONERS. SO MOVING FORWARD, I'M MORE THAN HAPPY TO KIND OF PROVIDE MORE DETAILS ABOUT THE FINANCE REPORT AND THE BUDGET TO ACTUAL REPORTS. I'M HAPPY TO GET UP AND KIND OF EXPLAIN A LITTLE BIT ABOUT THE INVOICES AND ANY CHANGES OR MODIFICATIONS THAT WE HAD, SO I CAN PLAN ON DOING THAT MOVING FORWARD, IF THE BOARD WOULD LIKE THAT. SO ONE OF THE THINGS I WANTED TO POINT OUT IS WE DID OPEN UP A NEW BANK ACCOUNT FOR YELLOWSTONE SQUARE. YOU'LL NOTICE THAT THAT IS ON THE FINANCIAL REPORT. WE ARE WORKING ON ORDERING CHECKS FOR THAT ACCOUNT SO THAT WE CAN KIND OF GET THE BALL ROLLING ON THAT, BUT WANTED TO MAKE YOU AWARE THAT THAT ACCOUNT HAS BEEN OPENED WITH THE BANK OF COMMERCE. ONE THING I ALSO DID WANT TO POINT OUT TO THE BOARD AS WELL, IS THAT WE DO HAVE AN L, G, P ACCOUNT FOR STANLEY. NOW, THAT'S KIND OF BEEN OVER THE LAST COUPLE OF MONTHS THAT WE'VE HAD THAT. SO SOMETHING TO NOTE THERE THIS MONTH WE ACTUALLY WE ONLY HAVE A FEW BILLS THAT WE'RE PAYING. REBECCA THOMPSON FOR HER SERVICES. AS WE HAD STATED WITH BRAD, HIS SERVICES FOR BEING THE EXECUTIVE DIRECTOR AND THEN OUR ADMINISTRATIVE COSTS TO OUR CITY EMPLOYEES COVERING THOSE. ONE THING I DID WANT TO POINT OUT, YOU'LL SEE BELOW THERE IS. SOME IF YOU WANT TO SCROLL DOWN A LITTLE BIT AND THERE IS SOME INVOICES THAT DID GET MISSED FOR ELAM AND BURKE. AND SO YOU'LL SEE THAT ON THE BOTTOM THERE. THAT WAS FOR A PRIOR MONTH THAT WE WENT AHEAD AND PAID THOSE INVOICES AND RECORDED THOSE THERE. SO. THANK YOU. YEP. SO THAT'S REALLY ALL OF THE MAJOR CHANGES AND THINGS 
          [00:05:03]
THAT WE ARE COVERING FOR THE FINANCIAL REPORT FOR THIS MONTH. ARE THERE ANY QUESTIONS ABOUT THAT? WELL, I DON'T I DON'T THINK I WAS LOOKING FOR, YOU KNOW, EVERY INVOICE THAT WE EVER SIGNED OFF ON. I'M JUST I WAS JUST KIND OF CURIOUS ABOUT THE GENERAL CATEGORIZATION OF THAT ONE NUMBER. YEAH. SO I DON'T NEED, YOU KNOW, ALL THE, THE DETAILS. OKAY. NOT A LOT OF BUSY WORK. THAT SOUNDS GOOD. OKAY. AND THEN NO MAJOR CHANGES TO THE BUDGET TAX REPORT AT THIS TIME. SO. OKAY. THANK YOU. WITH THAT, IS THERE A MOTION TO APPROVE THE FINANCIAL REPORT? I BELIEVE? BOARD APPROVED THE REDEVELOPMENT AGENCY FINANCE REPORT DATED APRIL 1626 AS PRESENTED. THANK YOU FOR A SECOND. OKAY. THANK YOU. MOVED AND SECONDED. IS THERE IS THERE IS THERE A CAN WE HAVE A VOTE ON THE APPROVAL OF IT? ALL IN FAVOR, SAY AYE. AYE. OPPOSED. 
          [4. ACTION ITEM: Accept the FY2025 Audit and Authorize Filing with the State Controller’s Office, Legislative Services Office and Other Locations as May be Required by Statute]
OKAY. OKAY. NEXT WE HAVE. DO WE HAVE SOMEBODY HERE FROM FROM RUNNING COMPANY. ALL RIGHT. 
          THANK YOU. WE HAVE A REPORT ON THE AUDIT. HELLO, EVERYBODY. SO YOU SHOULD ALL HAVE A REPORT ON YOUR DESK. I'LL JUST GIVE YOU GUYS A HIGH LEVEL. OH, SORRY. LET'S GIVE YOU GUYS A HIGH LEVEL OVERVIEW KIND OF WHAT WE WENT THROUGH OVER THE YEAR TO START OUT. ON PAGE ONE, YOU'LL SEE ESSENTIALLY OUR OPINION. AND THE MAIN PORTION OF THIS IS JUST THE SECOND PARAGRAPH. AND IN OUR OPINION, THE FINANCIAL STATEMENTS REFERRED TO ABOVE PRESENT FAIRLY IN ALL MATERIAL RESPECTS WITH RESPECT TO FINANCIAL POSITION OF THE GOVERNMENTAL ACTIVITIES AND EACH MAJOR FUND AND THE AGGREGATE REMAINING FUND. INFORMATION OF IDAHO FALLS REDEVELOPMENT AGENCY AS OF SEPTEMBER 30TH, 2025, AND THE RESPECTIVE CHANGES IN FINANCIAL POSITION FOR THE YEAR THEN ENDED IN ACCORDANCE WITH ACCOUNTING PRINCIPLES GENERALLY ACCEPTED UNITED STATES OF AMERICA. SO OVERALL, JUST CLEAN AUDIT OPINION, UNMODIFIED. AND THEN IF YOU'LL GO TO PAGE FOUR, THIS IS THE NDA, WHICH IS JUST ESSENTIALLY VERY, YOU KNOW, DISCUSSION OF THE FINANCIALS FOR THE YEAR. THE MAIN PORTION I WANT TO HIGHLIGHT IS THE FINANCIAL HIGHLIGHTS. THIS IS THE AGENCY ENDED THE YEAR WITH A DEFICIT OF ABOUT 9.2 MILLION IN THAT POSITION. THIS REPRESENTS A DECREASE IN THE DEFICIT OF 1.9 MILLION OVER THE PRIOR YEAR. THE AGENCY ENDED THE YEAR WITH TOTAL CASH AND INVESTMENTS OF 3.1 MILLION, AND THIS REPRESENTS AN INCREASE OF 405,000 FROM THE PRIOR YEAR. AND DURING THE YEAR, THERE WAS THE TWO NEW URBAN RENEWAL DISTRICTS THAT WERE APPROVED IN 2025 THE STANLEY BOGUE AND THE ANDERSON BUSH. THE NEXT PAGE JUST KIND OF BREAKS OUT ALL OF OUR GOVERNMENTAL FUNDS. AND THERE'S NO BUSINESS TYPE ACTIVITY FUNDS. AND THEN IF YOU GUYS WANT TO SKIP TO PAGE EIGHT, PAGE EIGHT HAS THE MAIN THING I WANT TO POINT OUT HERE IS THE LONG TERM DEBT. AT SEPTEMBER 30TH, 2025, THE AGENCY HAD A TOTAL LONG TERM DEBT OF 9 MILLION AND OPA OBLIGATIONS OF 3.3 MILLION, WHICH IS A DECREASE OF 1.1 MILLION FROM THE PRIOR YEAR. THEN SKIPPING AHEAD, THE ONE THING ON PAGE 21, WHICH IS FOR THE CASH AND INVESTMENTS, THE MAIN THING I WANT TO HIGHLIGHT HERE IS JUST THE CUSTODIAL CREDIT RISKS AND DEPOSITS. THE CUSTODIAL CREDIT RISK IS THE RISK THAT AN EVENT OF BANK FAILURE, THE GOVERNMENT'S DEPOSITS MAY NOT BE RETURNED. AS OF SEPTEMBER 30TH, 2025, 75,000 OF THE AGENCY'S DEPOSITS WERE NOT COVERED BY FEDERAL DEPOSIT INSURANCE OR THE SECURITIES INVESTOR PROTECTION CORPORATION, AND THUS WERE EXPOSED TO CUSTODIAL CREDIT RISK. AND THEN THE MAIN THING I WANT TO HIGHLIGHT TO ON PAGE 29, PROBABLY THE LARGEST THING THAT HAPPENED IN 2025 IS THE NEW GRANT PARTICIPATION AGREEMENT WITH S.R.L. DEVELOPMENT. IN AUGUST 2025, THE AGENCY ENTERED INTO A GRANT PARTICIPATION AGREEMENT WITH A PRIVATE DEVELOPER RELATED TO THE IMPROVEMENTS WITHIN APPROXIMATELY EIGHT ACRES LOCATED SOUTH AND WEST OF MILLIGAN ROAD, ADJACENT TO THE SNAKE RIVER WITH THE CITY OF IDAHO FALLS COMMONLY REFERRED TO AS THE BONEYARD. UNDER THE TERMS OF THE AGREEMENT, THE AGENCY MAY REIMBURSE THE DEVELOPER FOR ELIGIBLE PUBLIC SITE IMPROVEMENT COSTS ASSOCIATED WITH DEVELOPMENT PROJECT UP TO A MAXIMUM AMOUNT OF APPROXIMATELY 2.5 MILLION. THAT WAS, REIMBURSEMENTS ARE NON-INTEREST BEARING OR PAYABLE ONLY AFTER COMPLETION OF THE ELIGIBLE IMPROVEMENTS AND SUBMISSION OF REQUIRED DOCUMENTATION IN ACCORDANCE TO THE AGREEMENT. THOSE ARE THE MAIN HIGHLIGHTS FOR THE FOOTNOTES. AND THEN IF YOU GO TO PAGE 36, THAT'S WHERE WE KIND OF DOCUMENT THE REQUIRED SUPPLEMENTARY INFORMATION, WHICH IS THE BUDGET ACTUALS FOR 
          [00:10:02]
THE MAJOR GOVERNMENT FUNDS. AND THE MAJOR FUNDS THIS YEAR WERE THE RIVER COMMONS, AS WELL AS THE JACKSON HOLE. AND THEN GOING FROM THERE, THE OTHER NON REQUIRED SUPPLEMENTARY INFORMATION, WHICH WHICH IS JUST THE COMBINED BALANCE SHEET FOR ALL FUNDS, AS WELL AS THE CHANGES IN FUND BALANCE. SO THAT'S PRETTY MUCH EVERYTHING. AND THEN ON THE LAST PAGE IS OUR INTERNAL CONTROL OVER FINANCIAL REPORTING LETTER. THE TWO MAIN THINGS I WANT TO HIGHLIGHT HERE IS THE LAST PARAGRAPH ON THE FIRST PAGE OF THE LETTER, WHICH IS OUR CONSIDERATION OF INTERNAL CONTROLS FOR THE LIMITED PURPOSE DESCRIBED IN THE FIRST PARAGRAPH OF THIS SECTION, AND WAS NOT DESIGNED TO IDENTIFY ALL DEFICIENCIES IN INTERNAL CONTROL THAT MIGHT BE MATERIAL WEAKNESSES OR SIGNIFICANT DEFICIENCIES. GIVEN THESE LIMITATIONS, DURING OUR AUDIT, WE DID NOT IDENTIFY ANY DEFICIENCIES IN INTERNAL CONTROL THAT WE CONSIDERED TO BE MATERIAL WEAKNESSES. HOWEVER, MATERIAL WEAKNESSES MAY EXIST THAT ANOTHER IDENTIFIED. AND THEN LASTLY IS THE COMPLIANCE. THE RESULTS OF OUR TESTS DISCLOSED NO INSTANCES OF NONCOMPLIANCE OR OTHER MATTERS THAT ARE REQUIRED TO BE REPORTED UNDER GOVERNMENT AUDIT STANDARDS. SO WITH THAT, THAT'S EVERYTHING I HAVE TO SAY. THANK YOU. IF THERE'S ANY QUESTIONS, DID WE GET YOUR NAME? SORRY, ANDREW. OKAY. YEAH. I'M A NEW FACE. DOES ANYBODY HAVE ANY QUESTIONS FOR ANDREW? I JUST I'M SURE IT'S JUST REALLY A SMALL ISSUE. BUT ON THE ON THE LETTER. YEAH, ON PAGE TWO OF THE LETTER SAYS MANAGEMENT IS CORRECTED. ALL SUCH MISSTATEMENTS. I JUST KIND OF ASSUME THAT'S NOT ANYTHING OF SIGNIFICANCE, IS IT? NO, IT'S, IT'S THINGS THAT WE HAVE EVERY YEAR, MOSTLY RELATED TO, TO MOVING THINGS TO APPROVAL BASIS AND STUFF LIKE THAT. SO THERE WAS NOTHING, NOTHING MAJOR. 
          THEY'RE ALL SMALL THIS YEAR. YEAH. NO ISSUES THERE. OKAY. HEY, BRANT, CAN I ASK YOU A QUESTION? YOU BET. YOU MENTIONED THERE WAS ONE FUND OF 75,000 THAT WASN'T PROTECTED BY FEDERAL DEPOSIT INSURANCE. MAYBE. CAN THAT BE EXPLAINED IF MAYBE CASSIE KNOWS? YEAH, THAT'S A TALKING ABOUT THEM. YEAH. THAT'S ESSENTIALLY JUST, YOU KNOW, BANK DEPOSITS. SO, YOU KNOW, I THINK THE THE FDIC LIMITS 250,000. SO WE ESSENTIALLY BREAK EVERYTHING OUT AND SEE WHAT ISN'T INSURED IN CASE OF A BANK FAILURE, WHICH WOULD BE VERY RARE. AND HONESTLY, HAVING HAVING SOME FUN, SOME BALANCE UNINSURED IS VERY COMMON. I MEAN, YOU GUYS HAVE A VERY SMALL AMOUNT COMPARED TO WHAT WE USUALLY SEE WITH THE 3.1 MILLION YOU GUYS HAVE IN CASH AS OF SEPTEMBER 30TH. SO BUT THAT'S JUST ESSENTIALLY THE FDIC INSURANCE AT THE DIFFERENT BANK INSTITUTIONS. DO BUSINESSES COMMONLY HAVE INSURANCE PROTECTING THEMSELVES IN THOSE KIND OF SITUATIONS, OR IS THAT NOT PRACTICAL? IT'S IT'S SOMETIMES FOR THE MOST PART, IT'S NOT PRACTICAL. I THINK IT DEPENDS ON THE BALANCE AND WHAT BANKS ARE BEING USED. I WOULD SAY I COMMONLY THERE'S ALWAYS A BALANCE THAT'S SITTING THERE, EVEN FOR PROFIT ENTITIES OR NONPROFIT ENTITIES OR GOVERNMENTAL. THERE'S USUALLY SOMETHING, BUT IT'S SOMETHING WE LIKE TO POINT OUT JUST BECAUSE, YOU KNOW, MOVING MONEY AROUND MIGHT COVER YOU IN THE EVENT OF A BANK DEFAULT, WHICH I'M SURE THAT'S VERY GOOD. 
          THANK YOU. OPEN AN ACCOUNT AT ANOTHER INSTITUTION. YEAH. ESSENTIALLY. YEP. MOVE CASH OVER TO YOUR ACCOUNT AND THEN YOU THEN HAVE THE 250,000 OR WHATEVER THE FDIC INSURANCE IS. 
          SO THAT'S JUST A DECISION WE WOULD MAKE IF WE'RE COMFORTABLE, WHETHER OR NOT WE'RE COMFORTABLE WITH THE LENDER THAT WE'VE GOT NOW FOR THE BANK THAT WE'VE GOT NOW. YEP, EXACTLY. YEP. OKAY. THANK YOU. DOES ANYBODY ELSE HAVE ANY OTHER QUESTIONS FOR ANDREW? OKAY. THANK YOU VERY MUCH. NOW. DO WE HAVE TO. HAVE A VOTE TO ACCEPT THIS? MEGAN? YES. YES AND YES, PLEASE. IT IS A VOTE TO ACCEPT THE AUDIT AND AUTHORIZE FILING WITH CERTAIN ENTITIES AS REQUIRED BY STATUTE. OKAY. I WOULD ENTERTAIN A MOTION TO THAT EFFECT. IS THIS A ROLL CALL MOTION? A ROLL CALL VOTE? THIS DOES NOT NEED TO BE A ROLL CALL VOTE. BUT BECAUSE THE CHAIR IS ONLINE, I THINK I THINK IT CAN BE HELPFUL FOR RECORD KEEPING. OKAY, I MOVE WE ACCEPT THE 2025 AUDIT AND AUTHORIZE FILING OF THE STATE COMPTROLLER'S OFFICE, LEGISLATIVE SERVICES OFFICE AND OTHER LOCATIONS AS MAY BE REQUIRED BY THE STATE. VERY GOOD. THANK YOU. IS THERE A SECOND? SECOND, SECOND. WE'LL HAVE A ROLL CALL. VOTE FOR THAT FOR APPROVAL OF THAT MOTION. AND. WELL, ANNA. BRAD. KIRK LARSEN YES. CHRISTOPHER HARVEY. 
          [00:15:13]
YES. CHRIS PAUL KHALALI. YES. BRADFORD. YES. BRANT THOMPSON. YES. CARL CASPERSEN. YES. 
          MOTION PASSES. THANK YOU, THANK YOU. OKAY. THANK YOU, MEGAN. AND THANK YOU, ANDREW. BRAD, 
          [5. ACTION ITEM: Review of Owner Participation Agreement for Anderson Bush RAA]
CAN YOU HELP ME OUT WITH THE THE OPA THAT WE'RE LOOKING FOR? LOOK AT LOOKING AT FOR ANDERSON BUSH. SURE. YEAH, I CAN START AND MEGAN MAY HAVE SOME INFORMATION TO FILL IN SOME OF MY GAPS HERE, BUT A WHILE BACK, THE DEVELOPER OVER IN THE ANDERSON BUSH AREA THAT'S ALREADY DONE. THE TWO COMPLEXES THAT ARE CONSTRUCTED REACHED OUT FOR A POTENTIAL THIRD OPA. 
          THE SITE PLAN FOR THAT WAS IN YOUR PACKET. IT'S FOR SOME SENIOR APARTMENTS. HE HAD SENT SOME ESTIMATES FOR THE POTENTIAL COSTS ASSOCIATED WITH THAT DEVELOPMENT. MOST OF THAT IS ROCK BLASTING AND REMOVAL AMOUNTING TO JUST UNDER $1 MILLION. AS WE STARTED LOOKING AT THAT, WE HAD SEVERAL QUESTIONS. AND SO ALTHOUGH WE HAD HOPED TO BRING TO YOU AN OPA FOR CONSIDERATION, WE WANT TO EXPLORE A FEW OF THOSE QUESTIONS FIRST. AND SO MEGAN AND I HAVE A PHONE CALL SCHEDULED WITH THE DEVELOPER NEXT WEEK, WITH THE HOPES THAT WE'LL HAVE AN OPA IN FRONT OF YOU AT YOUR MAY MEETING. AND SO THIS THIS, ALTHOUGH THIS IS LABELED AS AN ACTION ITEM AT THIS TIME, WE'RE NOT LOOKING FOR ANY ACTION MORE OR LESS, MAKING YOU AWARE THAT THE REQUEST HAS BEEN MADE THAT WE'RE AND THAT WE'RE AGAIN, CONTINUING TO DIG IN ON SOME OF THE DETAILS TO MAKE SURE IT'S ACCURATE AND READY TO GO BY NEXT MONTH. I LOOKED THROUGH THESE. THEY ALL MAKE SENSE, EXCEPT I'M NOT SURE WHAT THE BIGGEST ONE IS. WHAT IS MASS ROCK EXCAVATION TO SUBGRADE? THOSE ARE THE KINDS OF QUESTIONS WE WANT TO ASK NEXT WEEK. YEAH. ALL RIGHT. WELL IT JUST LOOKED LIKE IT WAS THE BIGGEST ONE. IT MIGHT BE IMPORTANT TO UNDERSTAND EXACTLY WHAT THAT WAS. ALL THE OTHERS LOOK LIKE THEY'RE ARE TYPICAL EXCAVATIONS. EXCEPT FOR. I JUST DIDN'T UNDERSTAND THAT. ITEM 70. 
          YEAH, THAT WAS ONE OF THE QUESTIONS. WE WERE CURIOUS WHY SOME OF THE UNIT PRICES WERE DIFFERENT. WE'RE CURIOUS IF THERE'S ANY FILL MATERIAL. YOU KNOW, ASSUMED IN ANY OF THESE NUMBERS OR IF IT REALLY IS JUST BLASTING AND EXCAVATION. JUST WANT TO MAKE SURE WE'RE CLEAR ON A FEW OF THOSE THINGS. WHAT HAVE WE HISTORICALLY DONE WITH BACKFILL? MY MEMORY IS THAT TYPICALLY, IF NOT PAID FOR IT, UNLESS IT'S INSIDE OF A PUBLIC RIGHT OF WAY. AND I COULD BE MISREMEMBERING, BUT THAT SEEMS TO BE. I KNOW WE'VE HAD THIS DISCUSSION BEFORE ON BACKFILL, AND I THINK IT HAD SOMETHING TO DO WITH GETTING IT UP TO. ALL THE COSTS, GETTING UP TO A RAW LAND OF OTHERWISE DEVELOPABLE GROUND, AND WHETHER OR NOT BLACK BACKFILL WAS COMPENSABLE OR NOT. SO YEAH. AND SO MAYBE, MAYBE PART OF OUR TASK BETWEEN NOW AND NEXT MONTH IS TO LOOK INTO SOME OTHER REVIEW THAT OTHER AGREEMENTS ALONG THOSE LINES. OKAY, SURE. OKAY. SO WE'LL JUST TABLE THAT FOR NOW AND DISCUSS IT NEXT MONTH. AND THEN. WE HAVE A DIRECTOR'S 
          [6. DISCUSSION ITEM: Directors Report]
REPORT. YEAH. SO THIS ONE'S MUCH SHORTER THAN LAST TIME. I JUST WANTED TO GIVE YOU A FEW UPDATES ON SOME OF THE DISTRICTS AND CONVERSATIONS THAT WE'RE HAVING IN BETWEEN MEETINGS. AND SO IF THE BOARD WOULD LIKE, I CAN CERTAINLY INCLUDE ALL DISTRICTS IN THE FUTURE. FOR THIS ONE, I JUST INCLUDED ANYTHING WHERE THERE WAS AN ACTUAL UPDATE OF INFORMATION. SO JUST SO YOU'RE AWARE IN THERE, I SHOULD HAVE NOT LABELED THAT TO RIVER COMMONS. OH YES IT IS. IT'S RIVER COMMONS. THERE'S TOO MANY RIVERS. RIVER COMMONS CLEANUP OF THE BONEYARD THAT IS ON TRACK TO BE COMPLETED AT THE END OF APRIL, AND WE WILL START SEEING INVOICES AROUND THE FIRST PART OF MAY. I'M NOT SURE IF THAT'LL BE QUITE READY FOR REIMBURSEMENT. IT WILL BE ABLE TO REVIEW THOSE QUICKLY ENOUGH, BUT THEY WERE ABLE TO EXPEND ALL OF THE FUNDS. THEY WERE HOPING THEY WERE ACTUALLY GOING TO COME IN UNDER BUDGET, BUT THEY HIT A PRETTY DEEP POCKET OF THE DEBRIS THAT THEY THEY WEREN'T EXPECTING. AND THAT TOOK UP THE REST OF THE FUNDS. SKYLINE BROADWAY ELIGIBILITY STUDY THAT DID GO TO CITY COUNCIL AND WAS APPROVED ON APRIL 9TH. AND SO CURRENTLY IN CONVERSATIONS WITH THE THE 
          [00:20:05]
APPLICANT, THE DEVELOPER ABOUT THE NEXT PAYMENT FOR THE MOU SO THAT THE ECONOMIC FEASIBILITY STUDY CAN BE STARTED AS WELL AS THE PLAN. WE HAVE A CALL TOMORROW SCHEDULED WITH THEM. 
          AND THEN FINALLY ON THE WILLOW CREEK PLAN, JUST SO YOU KNOW WHY THAT WAS NOT ON THE AGENDA. 
          WE HAD HOPED TO BE READY FOR THAT, BUT THE LEGAL DESCRIPTION AND MAP WEREN'T QUITE COMPLETED. 
          I'M SUPPOSED TO HAVE IT NEXT WEEK, BUT WE ARE TRYING TO BE A LITTLE BIT MORE FIRM ON HAVING THOSE ITEMS BEFORE WE BRING THOSE PLANS AND DOCUMENTS TO YOU TO APPROVE, SO THAT EVERYTHING IS CLEAN AND READY TO GO AND PROCEED FORWARD. SO YOU WILL HAVE THAT IN THE MAIN MEETING FOR SURE. NEXT MONTH WILL BE BUSY. DO WE NEED A QUORUM? YEAH, I THINK THIS IS A GREAT IDEA FOR MEMORANDA. I DON'T KNOW, WE NEED TO HAVE COMMENTS ABOUT PLANS THAT DON'T HAVE ANYTHING, YOU KNOW, SIGNIFICANT GOING ON. BUT JUST JUST THESE BULLET POINT THOUGHTS. THIS IS GREAT, I THINK. OKAY. LEE, WE HAVEN'T HEARD MUCH FROM YOU. HAVE YOU GOT ANYTHING TO ADD TO. THE DIRECTOR'S REPORT OR. THAT THAT BRAD'S PUT TOGETHER? NO, THAT SOUNDS GREAT. OKAY. THANK YOU. THAT'S VERY HELPFUL. OKAY. I GUESS OUR NEXT ITEM IS THE 
          [7. DISCUSSION ITEM: RAI and Legislative Update]
REDEVELOPMENT AGENCY AND THE LEGISLATIVE REPORT. MEGAN, CAN YOU. CHIME IN ON THAT? YES. 
          THANK YOU, MISTER CHAIR. COMMISSIONERS, I DON'T HAVE ANYTHING TO REPORT ON TODAY. 
          THE SESSION ENDED. CURRENTLY DEBRIEFING AND TRYING TO FIGURE OUT WHAT ENDED UP GETTING THROUGH IN THE LAST WEEK OF THE SESSION AND WHAT'S BEEN SIGNED INTO LAW. THAT MAY HAVE IMPACT, BUT OTHERWISE, JUST STARTING TO LOOK AT SOME STRATEGIC PLANNING FOR THE NEXT SESSION. OKAY. 
          THANK YOU VERY MUCH. CAN I QUESTION I KNOW THE SPEAKER OF THE HOUSE WASN'T VERY HAPPY WITH SOME OF THE VETOES AND KIND OF HINTED AT MAYBE CALLING A SPECIAL SESSION. HAVE YOU HEARD ANYTHING ON THAT? THANK YOU, MR. CHAIR. COMMISSIONER, I HAVE NOT HEARD AN UPDATE ON THAT. I HAD SEEN THAT REPORTED OUT AS WELL, BUT I DON'T HAVE ANY DETAILS. THANK YOU. OKAY 
          [8. Next Meeting: April 16, 2026]
WITH THAT? WITH THAT BEING SAID, WE HAVE ANOTHER MEETING. SORRY, THAT'S A LITTLE BIT INCORRECT. 
          THAT WOULD BE TODAY'S DATE. OUR NEXT MEETING IS ACTUALLY MAY 21ST. OKAY. THANK YOU. ALL 
          [9. ACTION ITEM: Executive Session: Called pursuant to the provisions of Idaho Code Section 74- 206(1)(d) to consider records that are exempt from disclosure as provided in chapter 1, title 74, Idaho Code.]
RIGHT. AND SO NOW WE ARE GOING TO MOVE TO EXECUTIVE SESSION. WE HAVEN'T DONE ONE OF THESE FOR A WHILE. FIRST OF ALL, WE NEED TO CONCLUDE THIS MEETING. IS EXECUTIVE SESSION WITH YEAH, WE DON'T NEED TO FORMALLY ADJOURN THIS MEETING. SO I DON'T KNOW IF THERE'S SOME GUIDANCE IN FRONT OF YOU, BUT IT'S THERE WILL BE A MOTION TO MOVE INTO EXECUTIVE SESSION, AND YOU'LL NEED TO READ EVERYTHING THAT'S ON THE AGENDA AS THE BASIS FOR THE EXECUTIVE SESSION. THEN TO THE EXTENT YOU'RE INCLINED, THERE WOULD BE A SECOND AND THEN THERE'S A ROLL CALL VOTE. AND THEN AFTER THAT WE MOVE INTO EXECUTIVE SESSION. OKAY, MR. CHAIR, I MOVE WE MOVE TO EXECUTIVE SESSION PURSUANT TO THE PROVISIONS OF IDAHO CODE SECTION 74 2061D, TO CONSIDER RECORDS THAT ARE EXEMPT FROM DISCLOSURE AS PROVIDED IN CHAPTER ONE, TITLE 74, IDAHO CODE. THANK YOU. IS THERE A SECOND? SECOND? THAT MOTION HAS BEEN MADE AND SECONDED. AND COULD YOU CONDUCT A ROLL CALL VOTE? CARL CASPERSEN I BRANT THOMPSON YES. LEE RADFORD YES. CHRIS PAKULA YES. CHRISTOPHER HARVEY. YES. KURT CLARKSON YES. 
          MOTION PASSES. OKAY. THANK YOU. OKAY WITH THAT? SO WE WE'RE ACTUALLY GOING TO LEAVE THIS ROOM AND GO INTO A CONFERENCE ROOM THAT'S DOWN THE HALL, HAVE THE DISCUSSION AND THEN DEPENDING ON WHAT HAPPENS THERE, COME BACK IN. OKAY. CONCLUDED THIS MEETING SO WE COULD RECONVENE. YES, WE COULD RECONVENE. SO TO DO THAT, IF YOU'LL JUST SHUT OFF THE TWO BUTTONS SO IT OKAY. OKAY, WE'RE BACK IN SESSION. AND MEGAN, DID YOU HAVE SOME 
          [10. ACTION ITEM: Approve Confirmation of Reimbursement for Eagle Ridge RAA]
          [00:25:05]
COMMENTS TO MAKE? YES. THANK YOU, MR. CHAIR. COMMISSIONERS, I THINK WE'RE MOVING ON TO THE ITEM RELATED TO THE CONFIRMATION OF REIMBURSEMENT FORM. THAT'S THE LAST ITEM ON THE AGENDA. SO AS YOU KNOW, THERE IS AN OWNER PARTICIPATION AGREEMENT WITH A DEVELOPER IN THE EAGLE RIDGE PROJECT AREA WHO HAD PERFORMED SOME WORK UNDER THE OPA AND SUBMITTED COSTS IN THE AMOUNT OF $1.4 MILLION. UPON REVIEW. THERE WERE SOME PIECES OF THAT PROJECT THAT WERE REIMBURSED TO A THIRD PARTY UNDER A DEVELOPMENT AGREEMENT. AND SO AS A RESULT OF THAT, $454,207.58 IS REDUCED FROM THE AMOUNT SOUGHT BY OUR OPA DEVELOPER. AND BECAUSE OF THAT REDUCTION, THERE'S A REDUCTION IN THE PERCENTAGE THAT IS REIMBURSED FOR ENGINEERING FEES IN GENERAL CONDITIONS. AND SO THE ACTUAL TOTAL ELIGIBLE COSTS THAT ARE CONTEMPLATED FOR REIMBURSEMENT ARE $933,363.59, WHICH THOSE AMOUNTS ARE PROPOSED TO BE REIMBURSED, CONSISTENT WITH THE TERMS OF THE OWNER PARTICIPATION AGREEMENT. AND FOLLOWING YOUR REVIEW AND COMMENT, I WOULD JUST LIKE SOME DIRECTION TO CIRCULATE THIS DRAFT TO THE OPA DEVELOPER. OKAY. SO. THROUGH YOU, BRAD, THAT WILL BE DONE CIRCULATED THROUGH THE CITY AND THE DEVELOPER, I THINK BETWEEN MEGAN AND I WILL MAKE SURE THAT HAPPENS. OKAY? AND THEN IT WILL BE PRESENTED TO US AT THE NEXT MEETING, CORRECT? YES. OKAY. 
          THAT'S GREAT. OKAY. IS THERE ANY OTHER COMMENT ON THAT ISSUE AT THIS TIME? OKAY. OUR NEXT MEETING IS GOING TO BE MAY 21ST, AND I'D ENTERTAIN A MOTION TO ADJOURN. MR. CHAIR, CAN WE GET A MOTION ON THE CONFIRMATION OF REIMBURSEMENT, PLEASE, TO JUST AND NOT TO APPROVE? ACTUALLY, NEVER MIND. YOU PROVIDED DIRECTION. I'M GOOD WITH THAT EMOTION. OKAY. THANK YOU. IS THERE A MOTION TO ADJOURN? I MOVE TO ADJOURN. OH, SECOND. OKAY. SO MOVED. ALL IN FAVOR, SAY AYE. OPPOSED? OKAY. HEARING NONE, WE'LL ADJOURN. THANK YOU.
* This transcript was compiled from uncorrected Closed Captioning.