The Nampa Development Corporation is Nampa's Urban Renewal Agency, a redevelopment corporation independent of the City of Nampa. The NDC is charged with overseeing Nampa's revitalization efforts.
The NDC was established in 2006 when the Nampa City Council, under the leadership of Mayor Tom Dale, created an Urban Renewal District in Nampa (Nampa Economic Development/Redevelopment Plan 2006). In 2012, a 2nd Urban Renewal District (Historic Mercy Hospital) was created from one single parcel to allow for the redevelopment & rehabilitation of a historic building and site.
The mission of an Urban Renewal District is to revitalize the city, as the NDC and private developers strategically invest in the Urban Renewal District. This tool can provide a dedicated source of funding and a specialized funding mechanism for infrastructure improvements that may not otherwise be recognized, and provide financing for activities in designated areas to spur redevelopment where it might not otherwise occur without the partnership of public investment.
The NDC Board of Commissioners, with the assistance of City of Nampa staff and input from Nampa's citizens, identifies needed projects within the Urban Renewal District(s). Urban Renewal projects can be paid for with Urban Renewal bonds, issued by NDC, or agencies can simply spend the revenues as they come in, which is known as "pay-as-you-go Tax Increment Financing (TIF)".
Click Here to see how Urban Renewal Funds are Calculated.
