Disadvantaged Status Sought Developer Of Riverbend Park Requests Tax Assistance

The developer of Riverbend Commerce Park is seeking special tax assistance under a new law tailor-made for Post Falls.

Pat Leffel, manager of the business park owned by Jacklin Seed Co., requested Tuesday that the city’s Urban Renewal Commission declare the Riverbend development a competitively disadvantaged area.

“It will make us more competitive with our neighboring states, which would lead to increased employment and additional tax revenue for the city and other taxing districts,” Leffel said.

The designation qualifies Riverbend Commerce Park for taxincrement financing, a method of financing that pays off debt using the tax revenue that the new development creates.

Once the bonds sold to help pay for development are paid off, the increased tax revenue then is funneled to taxing districts, such as the city and highway district.

The Idaho Legislature passed a law in 1994 that allows “disadvantaged border communities” such as Post Falls to use tax-increment financing to attract development.

Opponents, the most outspoken being the Kootenai County Property Owner’s Association, called the financing method “corporate welfare for developers.”

An attempt to limit the city’s power to use tax increment financing failed in an election last winter.

Post Falls declared itself a disadvantaged border community last summer. Jacklin Seed wants Riverbend Commerce Park to be included in that area.

Bob Potter, director of the business recruiting agency Jobs Plus, said the designation will help him attract business to Riverbend.

“We have very few incentives to be competitive,” Potter said. “It’s going to be an excellent tool.”

The city’s Urban Renewal Commission has asked the city staff to provide more information on Jacklin Seed’s request before making a decision.

, DataTimes