TWIN FALLS — The Urban Renewal Agency received a $102,250 bid for what are currently vacant lots at 215 Shoshone Street South, formerly the site of Red’s Trading Post.
The bid by Eagle Financial comes with a proposal to build housing on the property. Chris Jones, owner of Plant Therapy in Twin Falls, is the principal of Eagle Financial. There were two bids for the property, but Eagle Financial’s was the highest by about $75,000.
The Sun Valley-based developers who had discussed building an $8 million apartment complex that would have used both 215 Shoshone Street South and a neighboring property did not make a bid for the site. Their proposal had included a request that the URA buy a neighboring property for $425,000, then hold that property until the apartment proposal had received the necessary city approvals.
It may not have been legal for the URA to fulfill that request since Idaho state law does not allow URAs to flip properties to specific buyers — generally speaking, the URA has to put properties out to public bid. The URA decided to solicit new proposals for some of the vacant lots.
The URA will make a decision on the bids at an upcoming special meeting.
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