Twin Falls Urban Renewal Seek Line of Credit for Clif Factory
TWIN FALLS, Idaho (KLIX)- The Twin Falls Urban Renewal Agency is moving forward on plans to help Clif Bar build its plant in Twin Falls. On Tuesday the board voted to approve a document seeking up to $19 million line of credit with Clif.
The funds will be used to make infrastructure improvements to the land where the energy bar company wants to build its plant just south of the Chobani yogurt plant. Funds will pay for pipelines, water storage and other necessary improvements to the 90,000 acres. URA Board Chair Cindy Bond says the line of credit probably won’t be used until December or later and not all of it will be used at one time.
Clif bar is essentially loaning the money to the Twin Falls URA to do the property improvements. Later bonds will be sold to repay the funds as well as a Tax Increment Financing District.