Engaged citizens usually have plenty to chew on with ample media coverage of the Idaho budget process, and a moderate amount of reporting on the city of Boise's annual spending plan. Little, if any, ink is spilled regarding the Capital City Development Corporation's annual budget. Yet, Boise's urban renewal agency collects and spends tens of millions of dollars annually, and is ultimately responsible for many of the region's most visible properties and projects.
For Fiscal Year 2015, which starts Oct. 1, CCDC board of commissioners, which includes Boise Mayor Dave Bieter and City Council members David Eberle and Lauren McLean, have given their blessing to a $66.8 million budget.
The financial blueprint represents a $40.1 million one-time pass-through from Ada County to pay off a bond to pay for its county courthouse. But the remaining $29.3 million reveals some interesting line items.
On the revenue side of the ledger:
: • CCDC is anticipating more than $5 million in annual revenue from its six parking garages.
: • The budget also includes a $7 million revolving line of credit for capital expenses, i.e. matching funds toward the under-construction downtown multimodal center and purchase of "strategic properties that may come on the market during the year."
On the expense side of the ledger:
: • Dozens of capital improvement projects, totaling $11 million, including streetscaping on Idaho Street in Old Boise ($1.1 million) and for the multimodal center ($770,000).
: • New property development projects in CCDC's River/Myrtle and Westside districts ($1.9 million).
: • Paying the contract operators of the parking garages ($1.9 million).
: • Personnel costs, including salaries ($1.5 million).
: • Installing new signage at downtown parking garages ($454,000).
: • Office rent and parking ($172,000)
: • Memberships and fees ($122,000) to partners such as the Downtown Boise Association and Boise Valley Economic Partnership.
: • Continued funding for the downtown wayfinding project ($40,000).
: • Travel and training, aka "professional development ($26,000).
In total, the expenses of $29.2 million (minus the massive pass-through for the county courthouse), includes 21 percent for operations, the lion's share for salaries and the garage operations contractor.