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RESOLUTION No. 95,_ - A RESOLUTION OF THE CITY OF MOSCOW, A MUNICIPAL CORPORATION OF IDAHO; FINDING THAT THE CITY IS A COMPETITIVELY DISADVANTAGED BORDER COMMUNITY; CREATING AND EMPOWERING THE MOSCOW URBAN RENEWAL AGENCY; DESCRIBING THE MOSCOW URBAN RENEWAL AGENCY; MAKING FINDINGS OF FACT AND DECLARATIONS OF NECESSITY REGARDING THE NEED FOR THE URBAN RENEWAL AGENCY; PROVIDING FOR THIS RESOLUTION TO BE EFFECTIVE UPON ITS PASSAGE AND APPROVAL. WHEREAS, the City of Moscow desires to implement and empower the Urban Renewal Agency which was created by the Idaho Urban Renewal Law of 1965 (codified as Chapter 20, Title 50, Idaho Code); and WHEREAS, the City anticipates that the Urban Renewal Agency will prepare an Urban Renewal Plan containing a revenue allocation financing provision, pursuant to the local Economic Development Act (codified as Chapter 29, Title 50, Idaho Code); and WHEREAS, the City recognizes that there are certain factual prerequisites to the empowerment of the Agency and the ultimate adoption of an Urban Renewal Plan containing revenue allocation financing provisions; NOW THEREFORE BE IT RESOLVED BY THE MAYOR AND CITY COUNCIL AS FOLLOWS: SECTION 1. That the City of Moscow is in its entirety a "competitively disadvantaged border community area" as defined by Idaho Code§ 50-2903(6) and a "deteriorated area" as defined by Idaho Code§ 50-2903(7e). SECTION 2. That the City Council hereby makes the following findings and declarations of necessity: a. The City's competitive disadvantage as a border community hinders its ability to engender a diversified economy through promotion of locally originated businesses based on emerging technologies. b. This competitive disadvantage impairs the City's ability to nurture and manage its potential for growth. c. Diversification of the local economy and the orderly management of growth are essential undertakings in the promotion of the public welfare. d. Through its proven ability to generate viable high-technology businesses, the North Central Idaho Business Technology Incubator (NCIBTI) constitutes a valuable tool for economic diversification and orderly growth. e. Retaining locally originated businesses such as those generated by the NCIBTI is conducive to the public welfare of the City of Moscow; ---PAGE BREAK--- competing with other municipalities for businesses originated elsewhere generally is not. f. The City of Moscow is compromised in its ability to retain locally originated, business technology-based companies, in particular those which have graduated from the NCIBTI, by the non-existence of available developed properties. g. The City of Moscow requires a means by which it may promote development of properties suitable for the permanent location of local! y originated companies. This need is made more acute by Moscow's proximity to the Idaho border, which facilitates competitive offers to those companies from other locations outside Idaho. Revenue allocation financing is the only tool available to the City for the promotion of such development. SECTION 3. That the use of revenue allocation financing is necessary and appropriate to facilitate the proper growth and development of the City of Moscow in accordance with sound planning standards and local community objectives. SECTION 4. That based upon the conditions described above, and pursuant to Idaho Code § 50-2001 et. seq. and § 50-2901 et seq., there is a need for an Urban Renewal Agency to function in the City. SECTION 5. That the Moscow Urban Renewal Agency is hereby authorized and the Mayor shall appoint three commissioners for said district as provided by Idaho Code § 50-2006. The Moscow City Supervisor is directed to cause City staff to assist in carrying out the Agency's work. SECTION 6. That this resolution shall be in full force and effect immediately upon its adoption and approval. RESOLVED by the City Council and APPROVED by the Mayor this 19th day of June 1995. ATTEST: Elaine Russell City Clerk . . Paul C. Agidius Mayor