In a recent meeting of the Idaho Falls City Redevelopment Agency, officials took significant steps towards revitalizing the Riverwalk area, a key site for future urban development. The agency approved a resolution to conduct an eligibility study for the proposed Riverwalk Urban Renewal District, which aims to attract new businesses, including a hotel, to the area along the river.

The meeting highlighted the financial report for June, detailing expenditures related to various redevelopment projects, including payments for consulting and legal services. Notably, the agency is working with Ball Ventures on the River Commons project, which is part of a broader effort to enhance the city’s infrastructure and economic landscape.

The eligibility study, conducted by consultant Brad Kramer, assessed the Riverwalk area against 15 criteria set by state regulations. The findings indicated that while some criteria were not met, the area is eligible for urban renewal designation primarily due to unsuitable topography, which complicates development. The report emphasized the need for assistance in addressing geological challenges, such as shallow basalt, which has hindered previous construction efforts.

The proposed hotel project is seen as a catalyst for economic growth, promising to generate tax increment revenue that could fund necessary infrastructure improvements. The agency aims to leverage existing resources to minimize taxpayer burden by utilizing established infrastructure rather than expanding into undeveloped areas.

The resolution passed unanimously and will now be forwarded to the city council for further consideration. If approved, the next steps will involve developing a detailed urban renewal plan that outlines how the agency will support the hotel project and other developments in the Riverwalk area.

This initiative reflects the agency's commitment to preserving and enhancing the urban core of Idaho Falls, ensuring that new developments align with community needs and contribute to the city's overall growth. As discussions progress, residents can expect updates on how these plans will unfold and their potential impact on the local economy.