CAPITAL CITY DEVELOPMENT CORPORATION
2011 ANNUAL REPORT
WHAT IS CCDC? CCDC is Boise’s redevelopment agency, providing public improvements in the city’s urban renewal districts. It serves as a catalyst for high-quality private development through urban design, infrastructure investment and economic development. CCDC designed, owns and manages the downtown public parking garages and important public open spaces like the Grove Plaza and the 8th Street café zone. It provides most of downtown’s brick sidewalks, street trees, public art and sidewalk furnishings. It has assisted with nearly every major new or renewed building in downtown since the mid-seventies. CCDC partners with the private sector and the City of Boise, Ada County, the Downtown Boise Association, the Ada County Highway District and many other agencies to help make downtown a world-class place to be.
BOISE’S URBAN RENEWAL DISTRICTS
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A letter from John May, CCDC Board Chairman The year 2011 marks a period of great change for Capital City Development Corp. As the nation and Boise continue to emerge slowly from the Great Recession, CCDC anticipates the recovery with a new executive director, two new board members and a new sense of optimism about the future. Before I introduce the new people, let me take this opportunity to acknowledge the service and leadership of Phil Kushlan, who announced his retirement after nearly 40 years in public service, effective in June. When I agreed to serve as CCDC board chairman two years ago, overseeing the resignation and replacement of Phil was the farthest thing from my mind. Phil came to the helm of CCDC in 1999, following a career in city management in Washington and Oregon, and he steered the agency into the 21st century with a steady hand. During his tenure, CCDC played a key role in many major projects, including BoDo, the Ada County Courthouse Corridor, the Boise Smart City Initiative, Pioneer Corridor, City Side Lofts and Aspen Lofts among many others. Phil oversaw the building of four public parking garages, and the agency participated in mixed-use projects that doubled the number of rental apartments in downtown and more than quadrupled the number of owner-occupied condominiums. CCDC’s critical planning and redevelopment tools were deployed in additional underdeveloped parts of downtown that more than doubled the previous district area. Boise had “arrived,” and our downtown is a source of great pride for those of us who live here, and the envy of nearly everyone who visits. Phil doesn’t get all the credit, of course, but he deserves a large share of it. I want to thank him for his vision, leadership and friendship. Phil and his wife Diane remain in Boise and active in the community, and I speak for the board and staff in wishing them the best. While I was not happy about Phil’s retirement and presiding over the search process for a replacement, I have to say that I am very excited to introduce Anthony Lyons as CCDC’s new executive director. The board chose Anthony after a national search that lasted nearly half the year. Our search consultants considered more than 100 candidates and looked closely at more than 30 of them. The board and I were closely involved in the process, and interviewed five excellent finalists, two of whom were from Boise. In the end we selected Anthony because his unique combination of experience and expertise fits with the direction we see CCDC moving. Anthony has strong city government experience, most recently serving as the director of the redevelopment agency in Gainesville, Florida, where he led a period of very successful growth. His experience in government has been especially rich in the area of developing the creative economy. He also has an entrepreneurial background of his own as founder and president of two phone card and gift card companies. We believe this experience will serve us well in the Boise of the future. The CCDC Board of Commissioners experienced some change this year as well. Alan Shealy resigned from the board in March after serving since 2006. Chuck Hedemark departed at the end of the year after serving two five-year terms, including a stint as vice-chairman in 2005-6. In May Boise Mayor David Bieter appointed and the Boise City Council approved City Council member Lauren McLean to fill Alan’s remaining term and Dana Zuckerman to fill a vacant seat. At the end of the year the board voted a new slate of officers, re-electing me as chairman and Phil Reberger as vice-chairman, and Dana as secretary-treasurer. I’d like to thank this excellent board for their help and support in selecting the new executive director. I’d also like to thank all the staff for their continued hard work during the long period without a director. CCDC is in good hands as we move forward.
A letter from Anthony Lyons, CCDC Executive Director I knew I was going to like Boise before the plane even touched down. It seemed both familiar and surprising, a mix of feelings that continues as my family and I enjoy settling in. I feel the same way about working at CCDC: some of the programs and challenges I’ve encountered here are similar to what I’ve worked with elsewhere. But many of the specifics here are unlike anywhere else. The people—the board and staff, the agency partners and the members of the community I’ve met so far—are warm and welcoming in a way that is extremely rare in the world. The work that CCDC and the community have done in downtown is impressive. I tell my friends who haven’t been here that Boise is surprisingly cool. It has a lovely, compact downtown that is highly walkable. Street trees, public art and highquality sidewalk furnishings, mostly free of litter and graffiti, reflect the civic pride and hospitable nature of Boiseans. Downtown has many little neighborhoods, each with a distinctive character. As the recession ebbs, several major new redevelopment projects are under way. There is still much to be done. We are looking to put surface parking lots and underperforming buildings to better use. We are rebuilding more sidewalks beyond the core with new trees and streetscape treatments to encourage pedestrians and retail activity. We are expanding on recent gains and helping to create more options for people to live downtown. Most importantly, we are working to build an environment where creative people and businesses want to be, where their innovations are sparked and nurtured. We are reaching out to the universities to build on the many economic development contributions that higher education provides. Downtown is the best place to do that. We want the agency to be a nimble, can-do organization that can put public investment to work quickly and visibly. We want to position the agency as a strong partner with the private sector as well as educational and cultural institutions. Every day brings interesting opportunities. I am happy to be here and I’m looking forward to tomorrow.
CCDC BOARD OF COMMISSIONERS
From Left: Pat Shalz: Broker, Thornton, Oliver Keller; Cheryl Larabee: Dir. of External Relations, Boise State Univ. School of Business; David Eberle, City Council Member, Dir. Environmental Finance Center, Boise State Univ.; Phil Reberger - Vice Chair: Principal, Sullivan & Reberger, Lauren McLean, City Council Member, Pres., Confluence Group; John Hale: Managing Partner, KPMG LLP Boise; Dana Zuckerman - Secretary/Treasurer, and John May - Chair: General Manager, Owyhee Plaza Hotel
GROVE BEFORE
GROVE AFTER
8th STREET BEFORE
8th STREET AFTER
8th STREET BEFORE
8th STREET AFTER
FOCUS ON REDEVELOPMENT & JOB CREATION
8TH STREET & THE GROVE “When we founded Bitter Creek Ale House, my brother wanted to locate in the Seattle-Tacoma area; I liked it here in Boise. The determination was what CCDC had done on 8th Street. There’s no way we would have opened here without the work CCDC had done.” Dave Krick, restaurateur and business owner
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WATER COOLER BEFORE
WATER COOLER AFTER
NOAH BRYAN
WATER COOLER EXTERIOR
FOCUS ON REDEVELOPMENT & JOB CREATION
THE WATER COOLER The Water Cooler is a business innovation development center housed in CCDC-owned property at 14th and Idaho streets. CCDC acquired the empty warehouse in 2003 in a property exchange that led to the Banner Bank Building development. In 2008, CCDC agreed to lease the property to the Water Cooler, a nonprofit corporation founded by BoDo developer Mark Rivers. Rivers brought his own private funds to improve the building, which now houses about ten small technology businesses. In 2010, to support the project goals of business and job creation, CCDC applied funds from a federal appropriation for further building improvements and to expand the capacity of the conference room. The Water Cooler has emerged as one of the success stories in Boise’s creative economy, partly owing to its downtown location. Noah Bryan, left, founder of Core Concepts, a performance outerwear clothing company, says being in the Water Cooler with a mix of new businesses builds synergy. “Here we share ideas, resources. If I need a software app I can just go down the hall. Or they might ping me for recommendations on lawyers or accountants.”
“We’ve been here since the beginning. The interaction with other startups is key: when you say you work at the Water Cooler, people know where you are.” Tony DuPont, founder, Io Dupont high-end technology products. Bottom left l-r: Jim Blythe, director of business development; Ben Donahue, brand manager; Tony DuPont; Thomas Schoeck, operations manager.
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CONDITIONS BEFORE INVESTMENTS
WALKWAY AFTER INVESTMENTS
PIONEER CORRIDOR PROJECT
ATTRACTS $100M IN INVESTMENT The Pioneer Corridor redevelopment project is a vision to reconnect downtown Boise with the Boise River along a historic pathway through the River Street neighborhood. A significant milestone was passed in 2011 with the completion of the Pioneer Corridor walkway portion between Myrtle and Miller streets. The Phase 1 segment showcases the new pedestrian/bicycle passageway design, featuring distinctive paving, lighting, trees and landscape materials. The segment was completed by CCDC using federal grant funding from the Idaho Transportation Department’s Enhancement program. Completing Phase 1 sets the stage for the rest of the connection to the river, and development of Phase 2, between Grand Avenue and River Street, is currently underway. Nearby development CCDC’s investment in the Pioneer Corridor has encouraged nearby private development: so far, approximately $100 million in new private investment is complete or underway within a few blocks. CCDC has collaborated with the developments on design issues, utilities relocation, construction access or other assistance. CCDC purchased two properties on Ash Street in 2011 when they became available for sale. The former Erma Hayman house, at the corner of Ash and River streets, is a small residence built in 1907 of Boise sandstone owned by longtime Boise resident Erma Hayman for over 60 years. It is considered an outstanding example of the architectural and cultural heritage of the River Street neighborhood. Long-term plans are under consideration for the property, including possible relocation within the neighborhood. CCDC also purchased a disinvested property at 511 Ash Street which will be added to the temporary open space known as the Pioneer Street Green, adjacent to Phase 2 of the walkway.
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CITY CENTRE STAIR TOWER
FINISHED STAIRS
STAIRS DURING RECONSTRUCTION
PRESERVING A DOWNTOWN RESOURCE
CITY CENTRE STEPS UP When routine engineering inspection of the City Centre Garage stair towers in late 2010 showed advanced weather-caused deterioration in the steel structure, CCDC moved immediately to address the issue. These stair towers provide critical service to the 8-level parking garage and the Aspen Lofts condominiums and retail businesses as well as the shops and offices in BoDo. The solution required complete removal of the existing tower stairs and replacement with construction using precast reinforced concrete to withstand weather impacts. The project was complicated by the fact that after the garage was built, the Aspen Lofts building was inserted between the two stair towers in 2008. Because the stairs bookend the condos, it was important to minimize disturbances as well as maintain occupant safety and convenience. CCDC worked with all parties to mitigate impacts, and the towers were replaced one at a time, with a design that is visually almost identical to the originals. The $1.5 million project began in May and was substantially complete by year end.
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MAIN STREET BEFORE
MAIN STREET AFTER
ON THE STREET
PUBLIC IMPROVEMENTS Downtown Streetscape Project One of CCDC’s goals is to create an attractive downtown environment, and in 2011 major streetscape improvements were completed on a total of four block faces on 9th and 10th streets, at Main Street and near Jefferson Street. The work consists of new concrete sidewalks, brick furnishing zones, ADA-accessible corners, and a total of 21 new trees and 16 historic street lights. Additionally, new sidewalk mini-plazas were added on the south side of Main Street and at the northwest corner of 10th and Main streets. These plazas are furnished with tables and seating to provide a refuge for pedestrians and patrons of nearby businesses. Included are a total of six new traffic-control boxes “wrapped” by local artists as part of the city’s highly successful traffic box art project, which also serves to discourage graffiti. Improvement costs totaled $650,000. Biomark Project Biomark is a Boise company that specializes in fish and wildlife research technology. In 2011 the firm renovated and relocated to an unoccupied warehouse owned by Boise City at River and 9th streets. Biomark’s relocation represents a smart adaptive reuse of an old building and it brings a number of creative high-tech jobs downtown. This new energy helps transform an underperforming part of the River Myrtle–Old Boise district. The project includes a pedestrian plaza at the corner with special landscape plantings and a low bench wall. CCDC will reimburse up to $26,500 for the streetscape improvements at the site. Additionally, CCDC is funding $18,000 in accompanying public art by Boise artist Anna Webb, as a mosaic work installed on the wall and an adjacent traffic box. Idaho Street Parking Lot The site of the former Eliot’s Tavern, adjacent to the Water Cooler business development center on Idaho Street, had been an empty gravel lot since the agency acquired the property and removed the building in 2005. In 2011, CCDC paved the .18-acre site, added bioswales, trees and other drainage and streetscape investments creating 24 parking spaces and a large bicycle parking corral that are available to nearby businesses and for events at the Water Cooler. Total project cost was $105,000. 15
CONCORDIA DEAN CATHY SILAK
WHOLE FOODS (under construction) WHOLE FOODS & WALGREENS IN PROGRESS
CONCORDIA UNIVERSITY
IN OTHER DEVELOPMENTS Concordia University A significant redevelopment success story in 2011 was the completion of the Concordia University School of Law. CCDC met with the Portland-based university officials throughout their search for a downtown location. Concordia ultimately purchased an existing LEEDcertified 19,069-square-foot building at Front and 5th streets and added another 35,192 square feet in a three-story expansion. The approximately $10 million project opened in September 2011 and classes will begin in the fall of 2012. The law school expects to begin with approximately 75 students in the first class, ultimately expanding to around 300 students. Concordia continues its commitment to green building and the project is in review for LEED-NC Gold certification. Whole Foods & Walgreens A major development broke ground in 2011 on long-neglected property at the junction of Broadway, Front and Myrtle streets. The project consists of a 47,000-square-foot Whole Foods grocery store, a 15,000-square-foot Walgreen’s pharmacy with a driveup window and a pad for a future phase of development. These projects will bring a welcome retail presence to this entrance to downtown across from the Idaho Water Center and the Ada County Courthouse complex. CCDC worked with the developer to improve site access and stormwater mitigation, and has budgeted up to $300,000 for streetscape improvements and a separate public art component. Walgreen’s expects to open in 2012 and Whole Foods in 2013.
“A law school serves as an important incubator for leaders in law, government, and business. Locating the law school in the core of downtown Boise allows Concordia students to be deployed throughout the community to volunteer and intern.” Cathy Silak, Dean, Concordia University School of Law
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JUMP (model)
8th & MAIN BUILDING RENDERING
8th & MAIN NOW
JUMP Starts The Simplot Family Foundation’s multiuse development known as Jack’s Urban Meeting Place (JUMP) between Front, Myrtle, 9th and 11th streets began work in 2011. The approximately $60 million development will initially consist of the foundation’s offices, an antique tractor museum, arts center, six-acre urban park and 500 parking spaces both underground and in a structure along Myrtle Street. The site plan includes a continuation of the Pioneer Corridor pedestrian connection between downtown and the finished walkway corner at 11th and Myrtle streets. JUMP represents a dramatic transformation of a large inactive property in the downtown core, and a significant philanthropic gesture by the Simplot family. 8th & Main Building The 8th & Main Building is a major new development underway for the long-blighted property at this prime downtown location. The Gardner Company of Eagle and Salt Lake City is creating a 15-20 floor Class-A office building with over 230,000 rentable square feet, 181 structured parking stalls and an estimated value of $50-$60 million. The project features two floors of pedestrian-friendly retail space at ground level and LEED certification. The 8th & Main Building will be an impressive turnaround for this premier downtown corner property that has been vacant since 1987 and compromised by unsuccesful prior ventures. CCDC entered into a development agreement in November to provide project reimbursements of up to $4 million dollars focused on site remediation, parking garage access and other public improvements. The Gardner Company expects to complete the project in 2014. River 8 CCDC is in preliminary negotiation with the Hosac Company of Boise regarding CCDC property at 9th and River streets, for a mixed-use project consisting of approximately 6,300 square feet of commercial and 3,200 square feet of office space, 160 condominiums and 160 parking stalls. The project would bring needed residential options to the lower Cultural District part of downtown. CCDC and the Hosac Company are proceeding with the schedule of conditions outlined in the one-year exclusive right to negotiate agreement signed in April of 2011.
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CCDC improved transit with new transit shelters and public art.
SUSTAINABILITY UPDATE CCDC’s Sustainable Development Policy guides all agency activities and will help conserve money and natural resources and improve the downtown environment. The policy includes regular analysis, and in 2011 CCDC’s facility energy-use review covered three years of study of the CCDC parking garages, two years of CCDC-owned facilities (Grove Plaza, 8th St., Associated Warehouse and the Water Cooler), and a baseline analysis of the new Pioneer Corridor property at 617 Ash St. The analysis includes recommendations for improvements. Lighting retrofits in Capitol Terrace Garage resulted in an annual electricity use reduction of over 28%; in Boulevard Garage a reduction of 42% is expected. Improvements in 2011 to the Water Cooler building included insulation, HVAC upgrades and other energy-saving measures. Occupant comfort and satisfaction has improved, and the building is now fully occupied with start-up technology businesses. Overall, the building’s energy use per square foot is 17% lower than the average office building. In 2011 CCDC planted approximately 17 new street trees and replaced 12; installed 25 more bike racks, completed a bike lane for 8th Street and installed a bike tire air pump in the Capitol Terrace Building on 8th St.; CCDC office staff recycled over 3,000 liters of mixed materials (paper, plastic, glass and metal) along with the equivalent of 14 “trees” of shredded paper.
PARTNERSHIPS 30th Street Area The 30th Street Master Plan produced by the city with ACHD and CCDC collaboration was adopted in 2011 as part of the city’s Blueprint Boise comprehensive plan update. This master plan was spurred by discussion of a 30th Street extension and a whitewater park. CCDC is managing the steering committee charged with making recommendations for implementation of the 30th Street plan. An economic feasibility study is underway, including an evaluation of the potential for an urban renewal area to assist with redevelopment plans. The committee’s recommendations will be released in early 2012. Looking Both Ways One-way streets facilitate automobile traffic passing through downtown rather than navigating within it. A five-agency work group was formed in July to consider converting traffic patterns back to two-way on several downtown streets to aid both vehicle and pedestrian mobility and to improve the retail environment. CCDC leads the effort and contracted with traffic engineers Kittleson & Associates to analyze impacts to the overall traffic system. The $45,000 study is coming to an end and recommendations are expected in 2012. Transportation In 2011 CCDC collaborated with other agencies in three land-use and transportation planning efforts involving downtown. CCDC is engaged to improve downtown mobility and to ensure that economic vitality remains a goal. First, Valley Regional Transit and partners continue work to design and locate a downtown multimodal transit center. CCDC has assisted with the project and will provide the $2.4 million local match required for the $9.6 million federal grant. Second, Boise City received a federal alternatives analysis grant for $375,000 to analyze downtown circulator route and mode options; CCDC has budgeted $62,000 as local match. Third, CCDC joined an eight-agency partnership working to implement the vision of the State Street high-capacity transit corridor linking downtown to developments and communities to the west.
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Traffic box art on Capitol Boulevard
ARTS & CULTURE UPDATE CCDC’s Cultural Investment Policy notes that investments in cultural resources are valuable tools for urban economic revitalization. In 2011, CCDC and the City of Boise concluded a national public art competition for the Linen District with the selection of a proposal by Brown & Cole of San Francisco for “Bicycle Trio,” an interactive piece featuring three bicycle sculptures that can produce music when “ridden.” The work, which will help build identity and interest in the Linen District, is in fabrication and will be installed on Grove Street in the fall. Funding is $30,000 from CCDC and $10,000 from the City of Boise. CCDC funding assisted the city’s Department of Arts & History in the production of its Cultural Resource Guide, a comprehensive list of arts, cultural and historical organizations in the Boise. The guide, printed as a small brochure, has a multiyear life span, including a smart phone application that can be updated regularly. The guide is a useful tool for both visitors and long-time residents, and it features a map of cultural locations in downtown. CCDC also commissioned Arts & History to create an inventory of the agency’s historical records. A&H staff searched CCDC’s records and focused on documents that predated the year 2000. The report provides a descriptive listing of 35 years of materials with recommendations for archival preservation priorities, plus locations of other relevant documents.
PARKING & FACILITIES CCDC owns and operates six downtown parking garages with 2,561 spaces, known as the Downtown Public Parking System. Garages reduce the need for surface parking lots, triggering denser downtown development. Real progress was made this year in the planned renovations of the Parking Reinvestment Program started in 2008. The most important advance is the selection of an advanced garage entry and exit technology made by Skidata—one of only four worldwide. The technology provides improved data on customer use and allows for innovative new parking options. It was initiated in Capitol Terrace Garage in the fall and will be installed in other garages beginning in the summer. Other reinvestment projects accomplished in 2011 include painting, deck waterproofing and other preventive maintenance in Eastman Garage. This work totaled $230,000 and was accomplished with a local contractor; three more garages will be waterproofed in 2012. These extensive maintenance efforts are part of CCDC’s commitment to stewardship and safety and will extend the useful life of the garages by many years. Another safety-related improvement this year was the addition of a “contra” bike lane on 8th street, designed to accommodate bicycle traffic. In collaboration with ACHD, the City of Boise and citizen bicycling representatives, CCDC painted a northbound bike-only lane that runs contra to the one-way (southbound) flow of 8th Street between Bannock and Main streets. This section of the street is owned by CCDC and managed to maximize access and safety for all who use the street: the nearby businesses, residents, patrons, pedestrians, automobiles, fire trucks, delivery vehicles, bicyclists and others. The response from most people has been very positive.
CCDC garages
8th Street contra bike lane
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CCDC FINANCES
FINANCIAL STATEMENT A major accomplishment of 2011 was the restructuring of CCDC’s entire portfolio of bond debt for building public parking garages, dating back over 30 years. More than $30 million in bonds, many at variable interest rates, were refinanced at today’s low fixed interest rates. Refinancing the agency’s debt is not a high-profile accomplishment, but it provides much greater financial stability and predictability. The significant savings that result are now being put into projects on the ground under the new Capital Investment Plan. The debt restructuring involved a renegotiation of the complex Ada County Courthouse project agreement, including the courthouse, public parking garages, apartment buildings and the settling of a lawsuit with a third party that was blocking further development. The new agreement, beneficial and equitable to both Ada County and CCDC, included the accelerated transfer of two parking garages to the county. Before the new agreement CCDC accounted for the Courthouse garage financing as operating lease expense, now it is recorded as a bond obligation, with CCDC accounting for the full liability this year as an “expense” of $15.1 million. This is a one-time accounting adjustment: there is no actual monetary loss. In fact, apart from the Courthouse adjustment, the agency’s net assets increased about $3 million in 2011. Revenue allocation is the agency’s primary source of revenue, comprising 67% of operating revenues. Revenue allocation revenues grew slightly, increasing 1.6% over 2010. The modest growth reflects the decline in property values and subdued development climate throughout the valley. Parking is the agency’s other major category of revenues, comprising 28% of operating revenues. The transfer of garages to Ada County resulted in a decrease in parking revenues, and a corresponding decrease in expenses. (The agency continues to operate six parking garages with a total of 2,561 spaces.) Expenditures for capital improvements increased more than 50% compared with 2010 as the agency made significant investments in streetscapes and in the Parking Reinvestment Program. However, expenses for operations and maintenance decreased about 12% compared to 2010, contributing to the overall increase in net assets apart from the Courthouse adjustment.
Statement of Net Assets (Balance Sheet) (Balance Sheet) FY 2010 FY 2010
FY 2011 FY 2011
Assets Cash Receivables and prepaids Restricted cash and investments Property held for resale Capital assets, net of depreciation
$ 9,110,141 11,723,225 4,854,043 3,637,764 26,052,645
$ 5,695,450 8,851,975 12,060,771 3,613,088 23,389,233
Total assets
$ 55,377,818
$ 53,610,517
49,716,409
47,387,823
Total assets including courthouse project
Receivable & prepaids, courthouse project
$ 105,094,227
$ 100,998,340
Liabilities Payables & accrued liabilities Deferred revenue Bonds and notes payable
$ 2,760,972 10,438,487 15,008,508
$ 1,057,408 9,867,097 27,622,764
Total liabilities
$ 28,207,967
$ 38,547,269
48,712,846
46,032,917
Bonds payable, courthouse project Total liabilities including courthouse project
76,920,813
84,580,186
$ 28,173,414
$ 16,418,154
$ 105,094,227
$ 100,998,340
FY 2010
FY 2011
Revenues Revenue allocation, central Revenue allocation, river myrtle Revenue allocation, westside Parking Other revenues Courthouse project lease revenue Interfund transfers
$ 2,691,906 4,678,744 1,884,534 5,018,246 770,560 2,327,497 ‐
$ 2,803,594 4,733,642 1,872,076 3,929,238 711,000 2,285,715 ‐
Total revenues
$ 17,371,487
$ 16,335,265
Expenditures Capital improvements Parking operations Operations and maintenance Depreciation Interest on long term debt Interest on long term debt, courthouse Courthouse project restructure
2,206,172 3,140,538 3,754,974 825,831 1,033,196 2,471,788 ‐
3,061,800 2,229,349 3,293,986 726,032 1,144,719 2,544,401 15,090,238
Total expenditures
$ 13,432,499
$ 28,090,525
Change in net assets
3,938,988
(11,755,260)
‐
15,090,238
$ 3,938,988
$ 3,334,978
Net assets Total liabilities and net assets
Statement of Activities (Income/Expense)
(Income/Expense) FY 2010
Courthouse project restructure adjustment Change in net assets (excluding courthouse project restructure)
FY 2011
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CCDC FINANCES
REDEVELOPMENT PROPERTIES Idaho law requires that urban renewal agencies report properties held for rehabilitation or resale in excess of three years, stating the reasons the property remains unsold and indicating plans for its disposition. Below is a list of properties owned by CCDC with the status and plans for disposition; it does not include properties dedicated as public facilities or open space such as parking garages, the Grove Plaza and the 8th Street cafĂŠ zone. 620 S 9th/611 S 8th/ROW; 1.206 acres. Acquired in 2001 as a Cultural District redevelopment catalyst property; a development agreement for residential project was reached through RFP but terminated due to recession. Currently in negotiation for a different mixed-use residential development. 429 S 10th; 0.08 acres. Acquired in 2001 to help bundle property for private mixed-use private development in River Street neighborhood. Held for redevelopment catalyst related to nearby JUMP project. 1401/1413 W Idaho; 0.37/0.18 acres. Acquired in 2003 and 2005 for catalyst project in new Westside URD. Currently leased to a business development center comprising 10 private tecnology businesses. Front St remnant; 0.32 acres. Leftover parcel from street realignment; acquired in 2007 to bundle with adjacent Old Boise private mixed-use development, on hold due to recession. Myrtle St remnant; 0.05 acres. Leftover parcel from street realignment; acquired in 2000 for the Pioneer Corridor redevelopment project. Property is part of the new public plaza at Myrtle Street. 503/509 S Ash; 0.09/0.119. Acquired in 2006 and 2007 for the Pioneer Corridor redevelopment project. Property is currently used as temporary public open space adjacent to the Pioneer Walkway. 511 S Ash; 0.158 acres. Acquired in 2011 for the Pioneer Corridor redevelopment project. Property will be rehabilitated as part of the temporary public open space adjacent to the Pioneer Walkway. 617 S Ash; 0.14 acres. Acquired in 2011 for the Pioneer Corridor redevelopment project. Includes a 100-year-old house of historical and cultural value to be preserved for future River Street neighborhood adaptive reuse.
photo credits: pg. 12, top left and bottom: courtesy of Keri Anderson; pg. 18, top right: JUMP website, bottom: 8th & Main brochure. All others by CCDC.
© 2012 CCDC / 121 N. 9th St., #501 / Boise, ID 83702 / www.ccdcboise.com