►
Description
Tuesday, May 17, 2022 at 2:00 PM
A
Two
o'clock:
this
is
the
time
and
place
for
the
harris
ranch
community
infrastructure
district
number
one
board,
meeting
clerk.
Will
you
please
call
the
roll
agent
clegg
here?
Woodings
here
present,
one
absent
and
council
member
beijing,
or
I
guess
member
of
agent
is
not
able
to
join
us
today
because
he's
out
of
town.
The
next
item
on
the
agenda
is
approval
of
the
minutes.
A
C
I
am
sabrina
meredith.
I
am
the
controller
here
at
the
city
and
also
work
closely
with
the
community
infrastructure
district
financial
statements.
Each
year
we
put
together
financial
statements
of
the
district
we
compile
all
of
their
financial
information
for
the
year
put
together
these
statements,
we
bring
in
an
external
auditor
to
audit
these
financial
statements
this
last
year.
Our
eyed
bailey
was
our
financial
statement.
Auditor
they
completed
their
audit
findings.
C
Sorry,
they
completed
their
audit
with
no
findings.
Thank
you,
and
the
only
large
item
that
I
wanted
to
bring
to
your
attention
is
that
you
will
notice,
in
our
budget
to
actual
statements
that
the
revenues
and
expenditures
were
both
below
budget
because
of
the
pending
litigation
with
the
district.
There
was
no
bond
issue
during
this
current
year,
so
that
decreased
our
revenues
and
our
expenses.
D
B
B
D
So
there's
there's
two
different
components
where
interest
increases.
The
first
is
that
for
projects
that
are
not
purchased
by
the
district,
they
will
accrue
interest
and
that
interest
will
eventually
need
to
be
paid
via
the
the
bond
proceeds.
The
second
is,
as
you
are
aware,
the
federal
reserve
has
been
increasing
interest
rates
and
so
over
the
past
since
december.
D
B
B
A
D
All
right:
well,
madam
chair
board,
member
clegg,
it's
good
to
see
all
of
you
again
just
by
way
of
introduction.
My
role
again
is
the
administrator
for
the
district
and
the
remaining
resolutions
that
you're
going
to
see
here
today
are
to
provide
services
for
the
district.
So
there
are
agreements
that
provide
services
for
the
districts
and
the
district
does
not
have
its
own
staff.
Instead,
it
pays
the
city
of
boise,
as
well
as
external
vendors,
to
provide
its
staffing
and
services
for
its
operation.
D
These
services
are
paid
primarily
through
bond
proceeds
and
through
the
administrative
levy,
that's
paid
by
the
residents
of
the
district,
the
city
of
boise
provides
finance
administration,
engineering
and
legal
services.
The
vendors
provide
audit,
financial
advising
and
special
assessment
reporting.
D
D
The
district
is
now
engaged
in
litigation
and
if
litigation
continues,
then
I
estimate
that
the
district
will
use
up
that
250
000
before
the
end
of
this
calendar
year.
Therefore,
the
agreement-
that's
before
you
as
part
of
resolution
hr
cid
2-2022,
allows
for
an
increase
of
100
000
to
cover
legal
expenses
should
litigation
continue.
D
Additionally,
other
avenues
of
funding
either
cannot
be
used
or
cannot
be
scaled
up
to
meet
this
need,
namely
because
of
house
bill
389
that
bill
limits
the
amount
that
the
district
can
grow
its
administrative
levy.
Furthermore,
broad
proceeds
should
be
used
specifically
for
community
infrastructure
projects.
D
B
D
So,
madam
chair
board,
member
clegg,
that's
that's
a
great
question,
so
the
the
agreement
allowed
for
a
14-year
payback
period,
because
the
administrative
levy
for
the
district
is
is
not
very
high.
There's
there's
a
couple
of
of
things
I'm
at
this
time.
The
resolution
does
not
ask
for
an
expansion
of
that
14-year
period.
D
One
of
the
things
that
I
will
bring
before
the
board
at
the
budget
workshop
is
the
proposal
that
we
ask
for
to
claim
the
foregone
taxes
and
although
that
amount
will
be
very
small
in
this
year
over
a
14-year
period.
It
is
enough
by
the
forecasted
anyway
to
to
cover
the
expansion
of
that
additional
hundred
thousand.
B
B
Madam
chair,
I
move
that
we
approve
hrc
id
2
2022
a
resolution
approving
an
agreement
by
and
between
the
city
of
boise
and
the
harris
ranch
community
infrastructure
district
number
one
for
provision
of
professional
services
to
the
harris
ranch,
cid
and
authorizing
the
harris
ranch
cid
board.
President
and
district
clerk
to
execute
said
agreement.