2026/10/26 - Special Urban Renewal Meeting

The City of Caldwell Urban Renewal Agency held a special meeting on October 26, 2026, to consider proposals under an RFP for a downtown boutique hotel. Commissioners discussed the project’s fit with the Envision Caldwell plan, city development approvals, parking, and whether either proposal could proceed without public financial assistance. The Borum team said its proposal was not feasible without government funding, gap financing, public participation in parking, and a five-year tax break; its cost estimate was initially stated as $15–20 million and later described as approximately $28 million for the full project, with a hybrid design potentially reducing costs by about $3 million. The other proposer also said it would need assistance, including a zero ground valuation and support for public infrastructure. Agency staff cautioned that the URA did not currently have the additional funds requested and could not commit city funds; any selection would lead to negotiations, not final project or construction approval.

On a motion by Commissioner Warwick, seconded by Commissioner Moore, the agency approved a resolution selecting Chase Mixes as the preferred developer for the Main Street boutique hotel; the roll-call record shows multiple yes votes, though one response is unclear in the transcript. The selection would direct staff to negotiate with that proposer and, under the RFP process, foreclose other developers from proposing for the same site. Separately, action on a development agreement with Zion Ventures was postponed because the agreement was missing from the meeting packet; commissioners discussed holding a special meeting later that week. No funding amount or public financial commitment was approved.