The urban renewal area that covers much of downtown and the west bank of the Snake River has been closed.
The Idaho Falls City Council voted unanimously Thursday to close the Snake River Project Area, which has been around for 30 years. Projects within the area have included the development of Lindsay Boulevard, Memorial Drive, improvements to the Riverwalk and downtown streets and the redevelopment of the Bonneville Hotel. The taxable value of the project area has gone up by about $190 million since 1988.
The area has been used statewide as an example of how to run an urban renewal area right, said Councilwoman Shelly Smede.
"The Idaho Falls Redevelopment Agency has worked to spend funds responsibly and effectively and is proud of the many accomplishments and projects within the project area," she said.
The area's taxable value will now return to local tax rolls.