Wednesday, November 26, 2008
THE GUARDIAN learned today Caldwell Urban Renewal board will be meeting to issue $8.5 million in revenue bonds to fund TVCC. (These bonds will not require a vote of taxpayers.)
TVCC Caldwell developer, Norfleet Development Company, may be having difficulty finding financing in today's credit market. Caldwell East Urban Renewal District will likely issue revenue bonds for the project.
Caldwell Urban Renewal is funded by $6 million dollars of property taxes (tax increment dollars) diverted to urban renewal. It represents one third of all property taxes collected each year in Caldwell. Your property tax bills went out this week from the County Treasurer.
Wednesday afternoon a message was sent to Caldwell City Finance Director, Eljay Waite for comment. We have not received a reply, probably due to the timing of the request late today and the Thanksgiving Holidays.
Nampa Urban Renewal court decision last week has opened the flood gates for revenue bonding all over the State of Idaho. Voters will be prevented from any approvals of the revenue bonding in their communities.
A meeting was held today to discuss funding an appeal of the Nampa Urban Renewal court decsion handed down late last week. Appeal organizers are getting their financial ducks in a row. A meeting with the attorney spearheading a Rexburg, Idaho urban renewal appeal is scheduled for next week.
If you are feeling abused by high property taxes and urban renewal laws in Idaho contact me at 208-459-9482 your help to end this abuse of taxpayer's will be welcomed by appeal organizers.
City Finance Director Eljay Waite sent a comment and the project will move forward with the move to issue revenue bonds at the Caldwell Urban Renewal Board meeting. Meeting will be held noon Tuesday 12-2-2008 at the Caldwell police station meeting room.
Posted by Paul Alldredge at 6:44 PM