CDA to ask urban renewal for more funds to build city park


A government watchdog group says Idaho's public pension retirement system needs $3.5 billion to fully cover obligations.

On a split vote in which the mayor of Coeur d’Alene  broke the tie, the city plans to ask Lake City Development Corporation (LCDC), an urban renewal district, for another $4.2 million to build a new park, according to a story in the Coeur d’Alene Press.

LCDC has already pledged $12 million for the project, but that amount and the funds contributed by the city are not enough to fund the park without reductions to the overall park project. Thus came the vote by the City Council requesting more financial support from the urban renewal district. One councilman who voted against the proposal called it an abuse of urban renewal funds.

One fallout from LCDC granting the funding request, says the story, is that the added burden will not allow LCDC to fund other requests.

 

 

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