The intent and purpose of Urban Renewal Agencies are to revitalize underutilized and blighted land by building needed infrastructure to encourage development. They are funded by incremental increases in property taxes in designated districts. Those increased taxes are diverted from other taxing districts for the life of the URA, a maximum of 24 years. In the case of the Ketchum Urban Renewal Agency (KURA), the County, Ambulance, BCRD, Ketchum Cemetery, Jail, even the City of Ketchum are the taxing districts affected. The idea is that once the KURA is retired, those taxing districts will have benefitted with greater increased taxes created by the work of KURA.
So the question is; Is KURA fulfilling their obligation to the deferred taxing districts to get maximum taxation from the development they are enabling/encouraging with their infrastructure improvements?
You make an excellent point. If the property they develop on the Washington Lot is a tax-exempt entity, it won't pay property taxes. So, how is there any "increment" from KURA's investment in that property?
Thank you Perry for explaining the KURA that is understandable! I have gone to several meetings of these people and couldn’t figure out where they came from and how! Not voted on by the taxpayers except thru mayor I guess?
I certainly think they should be required to work or own business in Ketchum and live in or close to Ketchum, as there are many Ketchum business owners but live north of Ketchum, Sun Valley, and Gimlet, and are all involved with what happens to Ketchum!
Interesting information. Who owns the large lot at the bottom of Warm Springs Road on the corner of Lewis? That seems like it would be ideal for affordable housing.
The intent and purpose of Urban Renewal Agencies are to revitalize underutilized and blighted land by building needed infrastructure to encourage development. They are funded by incremental increases in property taxes in designated districts. Those increased taxes are diverted from other taxing districts for the life of the URA, a maximum of 24 years. In the case of the Ketchum Urban Renewal Agency (KURA), the County, Ambulance, BCRD, Ketchum Cemetery, Jail, even the City of Ketchum are the taxing districts affected. The idea is that once the KURA is retired, those taxing districts will have benefitted with greater increased taxes created by the work of KURA.
So the question is; Is KURA fulfilling their obligation to the deferred taxing districts to get maximum taxation from the development they are enabling/encouraging with their infrastructure improvements?
You make an excellent point. If the property they develop on the Washington Lot is a tax-exempt entity, it won't pay property taxes. So, how is there any "increment" from KURA's investment in that property?
Good point. Albertsons owns it.
Thank you Perry for explaining the KURA that is understandable! I have gone to several meetings of these people and couldn’t figure out where they came from and how! Not voted on by the taxpayers except thru mayor I guess?
I certainly think they should be required to work or own business in Ketchum and live in or close to Ketchum, as there are many Ketchum business owners but live north of Ketchum, Sun Valley, and Gimlet, and are all involved with what happens to Ketchum!
Excellent points. Thanks!
Interesting information. Who owns the large lot at the bottom of Warm Springs Road on the corner of Lewis? That seems like it would be ideal for affordable housing.