Kootenai County Clerk Cliff Hayes has released figures showing the amount of incremental tax dollars which will be flowing to urban renewal agencies this year. $10,780,449 will be diverted from 18 different taxing entities, and will flow to four urban renewal agencies instead. Totals by urban renewal agency are:
- Hayden Urban Renewal Agency $ 470,557
- Lake City Development Corporation $ 5,621,041
- Post Falls Urban Renewal Agency $ 4,500,329
- Spirit Lake Urban Renewal Agency $ 188,522
- Total $10,780,449
“My office has been asked by several citizens to tally the funds flowing to urban renewal agencies”, Hayes said. “These two reports show the same information in two ways: incremental property tax funds that will flow to Kootenai County’s urban renewal agencies during this current tax year, and from what taxing authorities the moneys are being diverted.” More here. And: here and here.
Question: What do you make of this report that shows $10.8 million is being diverted from tax districts to four urban renewal agencies?