Notice of Public Hearing River Front East Urban Renewal Project Garden City Urban Renewal Agency Proposed Budget for Fiscal Year 2026 A public hearing for consideration of the proposed River Front East Urban Renewal Project budget for the fiscal year that begins October 1, 2025, and ends September 30, 2026, will be held at City Hall, Mayor’s Conference Room, 6015 Glenwood Street, Garden City, Idaho, on August 18, 2025, at 12:00 p.m., pursuant to Idaho Code §§ 50-2903(5) and 50-1002. Written or oral comments about the proposed budget are welcome. Written comment is strongly encouraged and may be submitted prior to the meeting, on or before August 18, 2025, at 8:00 a.m. by emailing Cynthia Rose, Program Administrator at cynthia.rose@gcura.org or by mail at Garden City Urban Renewal Agency, City Hall, 6015 Glenwood Street, Garden City, Idaho 83714. The Agency budget funds the programs, services, and capital projects that the Agency Board has determined to be important to meet the Agency’s strategic goals. This public hearing on the proposed budget is required for formal adoption of the FY 2026 budget. The proposed expenditures and revenues for FY 2026 have been tentatively approved by the Garden City Urban Renewal Agency Board of Commissioners at its regular meeting on July 21, 2025. The City Hall is accessible to persons with disabilities. GARDEN CITY URBAN RENEWAL AGENCY: FY2026 RIVER FRONT EAST BUDGET T entatively Approved Fiscal Year is October 1, 2025 through September 30, 2026 Dates Covered 10/1/23 - 9/30/24 10/1/24- 9/30/25 10/1/24 - 9/30/25 10/1/2025 - 9/30/2026 FY2024 ACTUAL Budget FY25 Projected FY25 Proposed FY26 REVENUE CASH CARRYOVER 1,393,712 3,526,723 3,684,000 5,000,000 TAX INCREMENT REVENUE 1,976,822 1,600,000 2,100,000 2,100,000 INTEREST INCOME 135,081 50,000 220,000 150,000 TOTAL REVENUE 3,505,615 5,176,723 6,004,000 7,250,000 EXPENDITURES: OPERATING UTILITIES 279 270 300.00 ADMIN. SERVICES 31,374 40,000 32,000 42,000 ACCTG SERVICES 4,504 5,000 5,000 7,500 AUDIT EXPENSE 3,500 3,900 3,800 4,000.00 ECONOMIC DEVELOPMENT 0 15,000 15,000 15,000.00 INTEREST EXPENSE 0 0 0 0 LEGAL 2,394 25,000 22,000 25,000.00 LIABILITY INSURANCE 2,172 2,700 2,620 2,800.00 MISC. BUSINESS EXPENSE 4,587 6,000 7,000 7,000 OFFICE SUPPLIES 464 500 1,200 700 NEW DISTRICT CONSULTANT 0 50,000 0 15,000.00 RENT 4,800 4,800 7,800 8,400 SECRETARIAL 882 4,500 1,200 2,500 CONTRACTED FACILITATOR 0 0 - TRAINING/MEETINGS 0 800 290 800 TOTAL OPERATING EXPENSE 54,956 158,200 98,180 131,000 COMMUNITY ACTIVITIES 0 10,000.00 10,000.00 10,000.00 TOTAL COMMUNITY ACTIVITIES 10,000 10,000 10,000 PUBLIC FACILITY IMPROVEMENTS GREENBELT/PARK IMPROVEMENTS 153,940 926,661 150,000 844,250.00 PUBLIC FACILITIES 452,915 1,899,856 450,000 3,629,507.00 STREETSCAPE/LANDSCAPE 3,923 659,690 150,000 505,805.00 TOTAL PUBLIC FACILITIES 610,778 3,486,207 750,000 4,979,562 PRIVATE DEVELOPER PROJECTS: In Process 393,114 0 393,114 TOTAL PROJECTS: PUBLIC & PRIVATE 5,372,676 TOTAL OPERATING/ PROJECT EXPENSES 0 3,654,407 858,180 5,513,676 OTHER EXPENSE Debt Reduction - - - TOTAL DEBT REDUCTION 0 0 0 0 TOTAL EXPENSES 665,734 3,654,407 858,180 5,513,676 NET EFFECT ON RETAINED EARNINGS 2,839,881 1,522,316 5,145,820 1,736,324