Twin Falls, Idaho (KMVT-TV) You will be seeing improvements in the Twin Falls Downtown area by next year.

The Twin Falls Urban Renewal Agency approved its annual budget for the 2013 fiscal year.

The 12.2 million dollar budget will set aside $2 Million for investment infrastructure in the downtown area and the assistance to the Chobani Yogurt Company.

More than $1 million than last year’s budgets.

The money doesn't increase property taxes for citizens.

"The urban renewal agency is not a taxing district, so as the city, the county, the school district, and any of the other ones.
What happens is the agency gets their funding from increase value from the property owners.
So as an example the reason the agency is able to spend between24-25 Million for infrastructure for Chobani is because it's paid by the property taxes that Chobani will be paying” said Melinda Anderson, Executive Director Urban Renewal Agency.

The increase investment will help the agency further its mission to revitalize deteriorating or underused property in downtown by encouraging growth and development in the area.