LCDC to spend $6.4M in 2012

COEUR d’ALENE - Breaking ground on the McEuen Field redevelopment project is one of the bigger anticipated expenses Lake City Development Corp. expects to fund in fiscal year 2012.

The urban renewal agency penciled in around $6.4 million for anticipated capital projects, namely the McEuen Field redevelopment project, in its 2012 financial plan.

The proposed budget anticipates collecting $5.1 million in tax increment revenue between its two districts. The $6.4 million amount would be taken from the $16 million the agency borrowed from Washington Trust Bank for projects inside its Lake District, in which the downtown park sits. Read more. Tom Hasslinger, Cda Press

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