URA Sells Land for $100-Glanbia to Start Building

(KLIX)- The  Twin Falls Urban Renewal Agency just sold a piece of land to Uptown Developers LLC for $100 bucks. This is part of an agreement between the URA and the developers for the new home of Glanbia’s Headquarters and Cheese Innovation Center. The site is the former location of Kruzer’s night club. It was torn down several weeks ago. Crews have been preparing the site for the Glanbia construction. URA officials say this will be the largest capital improvement to the downtown area so far. Total cost of investment is estimated anywhere from $10 to $15 million dollars. URA Executive Director Melinda Anderson says the URA is only investing a relatively small chunk of money. The money should be returned in a ten year period through tax increment financing. The Glanbia Headquarters and Innovation Center is expected to be a three story office building,  150 professionals and research staff are expected to move to the downtown area.